It's official: Let's blame everyone but Apple

Over the years, I've become inured to the rah-rah pumpathon that is CNBC. With the notable exception of the delightful curmudgeon Mark Haynes, the channel's anchors and correspondents dutifully perform their function as glorified cheerleaders for Wall Street.

But now CNBC's Silicon Valley bureau chief, Jim Goldman, can add to his impressive credentials the title of media apologist for both Apple and Steve Jobs

(Credit: CNET News)

In a postearlier Wednesday, Goldman came out swinging against unnamed market "manipulators" responsible for punishing Apple stock, especially in the aftermath of Apple's abrupt announcement that Steve Jobs would not keynote January's Macworld. Taking his lead from MacDailyNews, which lamented that "there's only so much Apple shareholders can take," Goldman wants the Securities and Exchange Commission to impose an "uptick" rule ,which prevents you from just shorting with abandon and supposedly would slow down future bear raids against Apple.

"MacDailyNews cites a great comment from John McCain last September: 'The regulators were asleep, my friends, they were not working for you. (The SEC has allowed abusive short-selling to turn) our markets into a casino.' Great point. And consider that if Bernie Madoff clients can be killed by massive market manipulation, how can the little guy expect to compete on a level playing field?"

Bernie Madoff?

Goldman depicts MacDaily News as being "Apple-centric." That's understatement. The Fox News of Appledom is more like it. That MacDaily News would push for SEC intervention on Apple's behalf should surprise no one. But before descending on Chris Cox's office, let's consider how we arrived at this juncture.

More than any other CEO, Steve Jobs has become synonymous with his company. Is there a more accomplished executive in the contemporary business world? At the very least, Jobs deserves a place among the Top Three with Sam Walton and Warren Buffett.

I won't speculate on his health but Jobs is a pancreatic cancer survivor. Let's not pretend. So when Apple drops its PR bombshell less than a month before Macworld, you have to wonder what's behind that decision. Maybe he's burned out or maybe he's in the middle of writing the Great American Novel. Who knows? Apple has since imposed its famous cone of silence.

But with Apple shares getting shellacked on Wednesday as the rumors flew, Goldman was downright incensed how "any momentum Apple enjoys is quickly, electronically dashed by those betting against the company."

"The web lights up with concerns about Steve Jobs' health; whether he's dying; or will be incapacitated; or will be resigning or retiring. And shares get destroyed, no matter how fundamentally solid Apple might be...The fact is, posting "gaunt," or "frail," or "Steve Jobs is ill" is the financial equivalent of yelling fire in a crowded movie house. And if that kind of thing is going to be tolerated, government should step in and either investigate the manipulators, or bring back the Uptick Rule."

To be sure, Apple's stock has been the target of unsavory shorts from time to time, but you want to talk about market manipulation? Ask Goldman's colleague Jim (Booyah) Cramer. The guy's apparently an expert.

Fact is that Apple brought on this mess. After the June developers' conference, questions got raised about Jobs' appearance. The company said his health was a private matter. Some argued that the demands of corporate governance or greater transparency should require Apple to be more forthcoming. But that was the final word from corporate.

So now what to think about Jobs' mysterious withdrawal from Macworld?

This is not the way a company as PR savvy as Apple usually rolls out the news. We don't know whether Jobs is feeling punk or whether he was dumped in a power struggle. That makes it a rumor monger's field. No surprise there. In blaming dark forces for spreading rumor and innuendo for financial gain, Goldman misses the bigger point. Apple could have avoided all of this by opening up. Instead, its communications with the outside world continue to assume the contours of a raised middle finger.

[peeweehoi]

It must really **** off Charlie Cooper that so many people care about Steve Jobs and Apple, and so few care about Charlie and CNet. CNet's a dead media company, Charlie, perhaps it's time for you to move on, just like your readers. $15b writedowns are just plain embarassing for you and your company.

[Everlovin G]

peeweehoi: "...Charlie, perhaps it's time for you to move on..."

Agreed, Charlie, and take your 'objective' buddy, Tom Krazit, with you.

[Mam00th]

Yet you comment on a dead media company about someone so few care about...

[ducttape36]

haha agreed mam00th. for someone who doesnt care about cnet he took the time to come here, read the article (although judging by his post he didnt really understand it,) create an account, and post about it.

[charlie cooper]

To "Peeweehoi" et al....A reader sent me a private email about my post & what I wrote him applies here: I'm not a stock picker and have no idea whether Apple shares deserve to be 9, 90 or 900. But Apple has made a conscious decision not to detail Steve Jobs' health condition. It has its reasons. But you knew that when the Macworld announcement hit the wires, the news obviously would reignite the rumor mill. You can't have it both ways. If instead you're more comfortable shooting the messenger, that's your problem.

[AppleSuxLeo]

Smug , secretive Apple. One of many reasons I steer people away from Mr Popeil`s company.
Apple always knows what is best for their minions , right ? WRONG ! PC`S forever.
Now back to Crysis ;)

[Perry_Clease]

When are you going to stop playing games and become an adult?

[renGek]

Hey Perry_clease, my mom used to say the same to me years ago when all I did was fiddle on the atari day and night. Then I became a programmer and did very well for myself years later. Now I do very well for myself and my mom doesn't think video games are all that bad. Imagine that. Force someone to "conform" to the notion of what you think an adult is.....and you get old fast.

[myles taylor]

I didn't know you had any reasons, Leo. I'd like to see a list of them sometime.

[Dalkorian]

I have to ask because of the way you phrased that - do you like Linux or do you just hate everything that isn't M$. It was the "PC'S forever" comment that sparked my curiosity, since that could include Linux boxes as well, but then you mention playing Crysis, which implies winblows (at least to me, because winblows is nothing but a game console to me - useless for anything serious unless you like being a slave to the Bill).

I don't agree with your rabid hatred of all things Apple, but many people don't agree with MY rabid hatred of all things M$ either. I'm just trying to understand where you're coming from.

[Thomas, David]

Just change your name to "Super-Troll", and "Anti Apple Lobbyist Supreme" ... the less enamoring names, others call you, are self generated.

Why am I commenting? Normally I never reply to your posts, but I tend to read all the comments, and you have remained consistent, and entirely without rationale.

[1travlr]

Mr. Cooper please grow up.

[AppleSuxLeo]

Mr Jobs will go down in history as the biggest SHYSTER in computer industry history.

[aaydogan]

Right after the Yang from Yahoo, Gates form Microsoft, the entire gang at Sun, Cisco and all of the other tech companies that have been making half baked garbage for over two decades. Selling snake oil is part of what it takes to be an entrepreneur. Being a smart consumer is learning to wade through the BS and buy what makes sense. These people, Jobs included, are successful because millions buy their products.

[ckh1272]

"Mr Jobs will go down in history as the biggest SHYSTER in computer industry history.

As will troll bloggers. Now please, go back to crysis!!

[Dalkorian]

Why?

Anyone willing to ask me why I hate M$ so much will get a direct answer (Winblows Genuine DISadvantage, Malicious Software Removal Tool, DRM, IE so tied into the OS it can't be uninstalled, licensing bull, assuming your customers are criminals until they can prove otherwise, swiss cheese security tacked on as an afterthought).

Can you name the reasons for your hate?

[alegr]

Dalkorian,

Good luck to you with uninstalling Webkit from OS X. That's pretty much an equivalent of IE part you can't remove from Windows. For the same reason, by the way.

[kboateng]

And also good luck removing all the various components that comes preinstalled with iTunes for PC...things that include files for an iPhone people do not have or networking programs when all one wants to do is listen to music.

[Chapmaniac]

Perry, you mean an adult that pays twice as much for a laptop computer because it has an apple logo on it? How about an adult that doesn't question why (laptop) parts are being used in a desktop (iMac) computer? I tend to think it's Apple Computer who is playing the games here.

[Perry_Clease]

No to all of your questions

[solitare_pax]

Of course, two chefs can take the same ingredients to make a stupid salad - but you'd pay more for that salad at a nice sit-down restaurant that has excellent service as opposed to the fast food joint where they will have forgotten the onions (again) and they'll stiff you for your change if you don't watch it.

That's the difference between Apple and PC as far as the hardware argument goes.

[Seaspray0]

@solitare_pax: so.... you pay more for a stupid salad with onions?

[Dalkorian]

That's not how I read it Seaspray0. He pays more for a stupid salad with onions AND EXCELLENT SERVICE.

Why do winblows apologists have such bad reading comprehension skills?

[dennisl59]

This comment might be "slightly" off topic, but I find it interesting that neither the main and news webpages here on CNET(owned by CBS) are reporting the MASSIVE patch issue with the latest revision of Apple's Macintosh Operating System (It's named after some kind of feline...little joke)

Maybe I missed it somewhere. Anyone have a fresh link?

Thanks, Caio'

[Dalkorian]

I've heard about an issue where Software Update doesn't complete the download and freezes when trying to install the incomplete update, but grabbing the combo updater from Apple's site works fine. I didn't suffer the problem myself (Software Update worked perfectly for me, but it was nice to be aware of the potential problem before doing the update), but from what I've heard people who did suffer it simply rebooted the machine to get by the freeze (the update isn't installed at this point of course, but the OS is running and stable again). I don't think anyone ever has been able to abort an update in winblows and have a functional machine afterward without reinstalling the entire OS (but admit I *could* be wrong on that).

The OS in question is 10.5, the update is to 10.5.6 and the OS "nickname" is Leopard.

A quick Google search returned this:
http://arstechnica.com/journals/apple.ars/2008/12/16/os-x-10-5-6-roundup-a-deeper-look-and-post-install-problems

[Dylan_Wisor]

*sigh* Does stuff like this really matter to people? Maybe I've got ADD or something, but I got bored and stopped reading in the middle of the third paragraph.

[myles taylor]

Yes. :P

Call me crazy (you probably will) but I do care. It keeps me entertained. If you don't care about stuff like this, maybe you should look for another site. I of course don't care about every article on here, but you got to weed through them.

[websterphreaky]

@ peeweehoi

I couldn't give a rats a$$ about Stevie Gods.

I'd love to dance on his grave. It would be the Microsoft Polka.

[freemarket--2008]

Wow! So much hate! You really should get some counseling.

[myles taylor]

Then why did you click on an article with his name in the title, take the time to read it (possibly?), and then take the time to post some comment expressing your opinion which no one cares about? Trying to get attention?

[Dalkorian]

I agree with Freemarket--2008. Get help. Before your irrational hatred ruins your life. Or before your master turns on you. Slavery is not a position of power, you know.

[dougied-76]

1.) if Apple were to announce it's intentions more than 3 weeks ago it would have killed the rest of the conference. By waiting until now they allowed MacWorld 2009 to proceed without other major vendor pullouts. This was about the most respectful thing they could have done for this year's show.

2.) Job very well may be sick - and as an Apple shareholder (so I do drink the koolaide) it is none of my business. Jobs isn't a one man show - he has a very capable team around him. Anyone who invests in a company has to understand the risk of management not preforming or experiencing a sudden change. Do I think the analysts are doing me a dis-service - yes - but so is the economy as a whole.

3.) Apple doesn't need MacWorld. Apple will still do WWDC - that will become the event of the year. Apple can also get all you journalists at their door with their special events on their time frame - and you'll keep coming - because Apple brings you eyeballs.

4.) Speaking of eyeballs - you just went all Dvorack on us. Nice link baiting. I hope you get a special kickback for the extra eyes you got to read this article.
4.) Finally

[DrtyDogg]

as an apple shareholder myself(I don't drink the koolaid). I would be very worried if SJ left Apple, history has shown us what happens to them when he is not at the helm. It may work out different whenever he decides to step down, but my money isn't staying on board.

[Penguinisto]

"History has shown"?

He left once. His replacement wasn't picked by him (he was ousted by the board at that time).

I suppose you can sell your 10 shares and all, but seriously? I wouldn't hold my breath waiting for an explosion, even if if Jobs were hit by a meteor tomorrow.

[Dalkorian]

Peng, remember what happened to Apple after they ousted Steve? Remember what happened when they took him back? Remembering something implies it's in the past - by definition "history".

History has shown what happens to Apple without Jobs at the helm. I'm not a Jobs worshipper by any means, but I can recognize history and reality and I respect Jobs for what he has done.

[kboateng]

I have to agree that no matter how much you hate the guy or love him/hate his products or vice versa, he is the company. Steve Jobs not being a part of Apple can be a very serious blow. That said the company might bounce back because of its fanboys but who really wants to take that chance? Even most of the fanboys are around because of Mr. Jobs.

[Brian]

Apple used to by synonymous with QUALITY.

Unfortunately, for the past year Apple has been synonymous with GREED.

Switching from one brand to another is no big deal, really.

How many of us has switched from a Chevy to a Ford for example?

How many of us has switched from a Sony to a Panasonic?

No big deal until you switch from a PC to a Mac.

Now you make huge investments in software, hardware (they are NOT 100% compatible), etc.

But when Apple (many years ago) accused Microsoft of producing "third rate products", it seems that Apple is doing just that!

[M C]

Then why are so many switching to Mac?

Kind of flushes your whole position down the bog, eh?

[kelmon]

There's a lot of truth in this comment. Right now I certainly would not consider moving back to Windows from the Mac but it is certainly true that Apple's products have not been as good as they should have been at release and customers are being "nickeled and dimed". For example, my current MacBook Pro that I purchased back in 2006 came with both the Apple Remote and DVi-to-VGA connectors in the box. These days you have to buy all these things separately yet the price of the overall computer has not decreased. Sure, it's not a major expense but it's one that was not necessary before and it just seems that the company is trying to find new methods to milk its customers.

Apple has never been synonymous with "value". However, I will argue that Apple's products represent worse value today than they did previously. Since I've switched and invested in the platform the decision to switch to another platform is very difficult. However, I certainly would not be so quick to switch to the Mac these days.

[freemarket--2008]

@kelmon:

How does that relate to the quality issue? Not everyone needs or wants a remote or a VGA adapter. Everyone screams that Apple is so expensive, but when they do what's necessary to get costs down people scream about something else.

@brian:

Exactly what makes Apple's products "third rate" as you claim? You make blanket statements, but give no explanation whatsoever.

My personal experience has been just the opposite so far.

[kboateng]

It is not a matter of people needing it or not, it's a matter of options. It's similar to a phone having Wifi...some might have an essential need for it, others might never use it in their life. Does that mean that Wifi should not be offered because some do not need it? No, it just means that the option should always be readily available to the consumer. You cannot offer things just to take them away and say it is ok because it is to cut costs...makes no sense. What about the people who came to depend on those things you offered? The consumer should always come first and Apple seems to have lost its way in that respect...just look at the prices of their products.

[davidmcelroy_dotmac]

People who complain about short selling of stocks either don't really understand why the market NEEDS short-sellers or else they're just looking for a convenient scapegoat. Someone who goes long (buys stock in the traditional sense) is betting that a stock will go up. Someone who goes short is simply betting that a stock will go down. A market is kept in equilibrium when we have both types of traders. It's ignorance to suggest that we short-circuit the market even further to bring about a supposedly desirable result.

[mouseclick]

The party is slowly going to be over. It's not just Jobs, it is the products too. Apple has done a good job delighting folks with new great (supposedly) products over the past few years but, the bigger they get the worst the products get. We all remember the iPod battery problems and today it is the iPhone and its plethora of problems. I walked into an Apple store tonight because I just baught an iPhone 3G less than a month ago (it has all kinds of shortcomings, one being its inability to stay connected to the 3G network despite the fact I live in the middle of the LA area) and I asked them about the problem. I know there is no fix and the fingers are pointing everywhere from the chipset to AT&T. The sales guys says to me "don't talk to us. It's an AT&T problem. Talk to them." This is a similar answer I got when I went in a few years ago that my iPod was suddenly pausing songs on its own. They saw it themselves and gave me many reasons why it was not their fault (you have MP3 format songs on it and that could be the problem... It doesn't do it every song so, does it really do it at all...). I'm not the only one - there are so many complaints about Apple - that darling - products online. It is growing and growing. As Apple also grows, they are mismanaging the one thought they own in our minds - simple, nice-looking products that work... If Apple doesn't take customer satisfaction more seriously, they will lose that darling status of theres. I get far better product support from Microsoft (Windows, Xbox, etc.) than Apple and if Apple is what everyone thinks they are, it should not be that way. Slowly but surely, Apple is imploding primarily from a small but growing base of customers frustrated with their product quality...

[Brian]

@mouseclick

I agree 100% with your post!

As a consumer, I have expectations when I purchase a product.

It doesn't matter what - a DVD player, a digital camera, an automobile, a cell phone --- those products just work!

Why? Because they are not manufactured by Apple!

As an Apple customer, I had to have the circuit board in my iMac replaced (within the lousy 3 year extended warranty I had to pay extra for) --- I get a better warranty for the new automobile I bought last year!

Why did Apple drop the Firewire port on the new 13" Macbooks?

How come MobileMe wasn't working as advertised for many months after it was released?

Why the heck does Apple point fingers for the major issues of their new iPhone 3G users experience?

How come Apple charges me for updating my iPod Touch when updating any other product is usually free?

*** Apple?

Imagine if consumers switched back to PC's in revolt.

Knock, knock Apple!

[freemarket--2008]

@Brian:

Let's see, your iMac had a bad circuit board and they fixed it. It's bad that it failed, but what company has 100% perfection. Hopefully, they will analyze the board and adjust the process or maybe they already have.

Was the failure outside of the standard warranty? If not, then you chose to pay the extra fee for your own peace of mind and are fully to blame. If it was, then you made a good call and got your money's worth. It's unreasonable to compare a computer warranty to an automobile's. They are two entirely different technologies and you pay an awful lot more for a new car.

How many people actually use Firewire these days with USB 2.0 everywhere?

As to the iPod touch update: http://www.macworld.com/article/131991/2008/02/ipodtouch.html

I'm sorry you had bad experiences, but if there's a company out there that's perfect I haven't heard about it.

Overall, I think Apple is one of the few companies that want's to make a great product. They are willing to take risks and try something new. Sometimes it works and they have wild success and sometimes it's a flop. At least they are willing to keep trying.

[rawhead909]

So what, now because Jobs is a cancer surviver, every single Apple press release has to be prefaced with "Steve's health is fine, and the following has got nothing to do with it" ??


Please, you're a disgrace.

[Seaspray0]

I'm not the one saying it. The stock investors are making it obvious what they want with their reaction.

[dhavleak]

Wow -- Charles Cooper got it dead right -- MacDailyNews really *is* Fox news for Apple. I can't stop laughing at their suggestions that the SEC should get involved to prevent shorts over news like this.

Simple advice for MacDailyNews -- stop hyping up Jobs, stop spreading Job's reality distortion field dogma, and the impact to the stock will be less when Jobs becomes less visible. If you're not able to do that then perhaps Jobs really *is* all that he's cranked up to be, and maybe the stock *should* fall if his health is an issue. It's really that simple.

[panchovilla81]

@mouseclick

it seems difficult to suggest that APPL has lousy customer satisfaction when they continuously have the highest customer satisfaction surveys. I too have a iPhone and yes it has problems. I live in OC and there are 3G issues, WiFi problems and no MMS or copy and paste (haha)... BUT... Apple has helped me out when things went totally south. They replaced my first iphone relatively hassle free when suddenly my phone started to lose its charge... Would Motorola do that? Nokia? RIM?!?! Nope. I also have a Sony Desktop running Vista... Top of the line with Blu-Ray and all that other jazz... what happens when things go wrong there?? BestBuy wont want it. Sony customer service? a website or MAYBE a telephone number?? hmph... There are no guarantees in life... especially when it comes to technology.

So yes, maybe Apple products are becoming crappier quality... but they are also getting less expensive. (kinda) Maybe it's about time we come to terms with the fact that all computers will need to be replaced after five years and iPods will only last 2-3....

Whether its a Ford, Chevy, Apple or PC... we are dealing with business... None of these companies have ever claimed to be Non-Profit organizations.

I understand wanting to keep the new iPhone a secret until the big day, but this is a bit much.

[JKDPunk]

The only thing worse than blindly loyal Mac followers are insecure PC sheep.

[M C]

Unfortunately "Coop" exemplifies the post-Web-1.0-bubble CNet:

1. Stoke page views with outrageous/inflammatory/self-righteous positions.
2. ????
3. Profit.

They're still waiting on the underwear gnomes to work out #2. Until then we're left with stuff like this.

[jscott418]

This can be really bad for Apple because Apple fans have made Steve Jobs their cult leader. It would appear to them anyway that much of Apple's products have been bought not because they are good solid products that they want and need. But rather because Steve told us to buy them. I have seen CEO's respected warmly by their employee's before but never so much by their devoted customers.
That does pose a problem, because Jobs is a marketing spokesmen for the company and many have probably been persuaded to buy a Apple product through his speeches. What's not normal here is that many are already believing that Apple may suffer sales lose simply because of a different pitchman.
If this is true? Then what kind of products does Apple sell? This reminds me of the late night slicer and dicer guy years ago who could convince you to buy the machine that does everything. Sure it was over priced, but he made many believe it was worth it. Is that was Steve has become to Apple?
Frankly, if I were 2nd or 3rd on the totem pole at Apple I would be taken back that I could go out at Macworld and present a new product and have as much interest in it as Steve Jobs would get.
That to me is saying that Apple has some very shaky products.

[kelmon]

Well, I have no idea why people are having a problem with the article. It's ridiculous that the health of Apple's CEO is such a big deal but it is and you can see that reflected in the company's share price any time there is a mention that he's not well. Exactly why Phil is doing the job this year is anyone's guess but it is no surprise that speculation is rampant and the suddenness of the announcement is odd. Time will no doubt tell...

Good job and keep it up.