Thursday 31 May 2012

Principles

Insurance involves pooling funds from many insured entities (known as exposures) to pay for the losses that some may incur. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring. In order to be insurable, the risk insured against must meet certain characteristics in order to be an insurable risk. Insurance is a commercial enterprise and a major part of the financial services industry, but individual entities can also self-insure through saving money for possible future losses.

Insurability

Main article: Insurability Risk which can be insured by private companies typically share seven common characteristics. 1.Large number of similar exposure units: Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the law of large numbers in which predicted losses are similar to the actual losses. Exceptions include Lloyd's of London, which is famous for insuring the life or health of actors, sports figures and other famous individuals. However, all exposures will have particular differences, which may lead to different premium rates. 2.Definite loss: The loss takes place at a known time, in a known place, and from a known cause. The classic example is death of an insured person on a life insurance policy. Fire, automobile accidents, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory. Occupational disease, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable. Ideally, the time, place and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements. Accidental loss: The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be pure, in the sense that it results from an event for which there is only the opportunity for cost. Events that contain speculative elements, such as ordinary business risks or even purchasing a lottery ticket, are generally not considered insurable. Large loss: The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses these latter costs may be several times the size of the expected cost of losses. There is hardly any point in paying such costs unless the protection offered has real value to a buyer. Affordable premium: If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that the insurance will be purchased, even if on offer. Further, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If there is no such chance of loss, the transaction may have the form of insurance, but not the substance. (See the US Financial Accounting Standards Board standard number 113) Calculable loss: There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim. Limited risk of catastrophically large losses: Insurable losses are ideally independent and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base. Capital constrains insurers' ability to sell earthquake insurance as well as wind insurance in hurricane zones. In the US, flood risk is insured by the federal government. In commercial fire insurance it is possible to find single properties whose total exposed value is well in excess of any individual insurer's capital constraint. Such properties are generally shared among several insurers, or are insured by a single insurer who syndicates the risk into the reinsurance market.

Insurance

This article is about risk management. For Insurance (blackjack), see Blackjack. For Insurance run (baseball), see Insurance run. Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. Contents [hide] 1 Principles 1.1 Insurability 1.2 Legal 1.3 Indemnification 2 Effects 3 Insurers' business model 3.1 Underwriting and investing 3.2 Claims 3.3 Marketing 4 History of insurance 5 Types of insurance 5.1 Auto insurance 5.1.1 Gap insurance 5.2 Home insurance 5.3 Health insurance 5.4 Accident, sickness and unemployment insurance 5.5 Casualty 5.6 Life 5.6.1 Burial insurance 5.7 Property 5.8 Liability 5.9 Credit 5.10 Other types 5.11 Insurance financing vehicles 5.12 Closed community self-insurance 6 Insurance companies 7 Across the world 7.1 Regulatory differences 8 Controversies 8.1 Insurance insulates too much 8.2 Complexity of insurance policy contracts 8.3 Limited consumer benefits 8.4 Redlining 8.5 Insurance patents 8.6 The insurance industry and rent-seeking 8.7 Religious concerns 9 See also 10 Notes 11 Bibliography 12 External links

Today's featured picture

Sheet music for the Polonaise in A-flat major, Op. 53, a solo piano piece written by Frédéric Chopin in 1842. This work is one of Chopin's most admired compositions and has long been a favorite of the classical piano repertoire. The piece, which is very difficult, requires exceptional pianistic skills and great virtuosity to be interpreted. A typical performance of the polonaise lasts seven minutes. Recently featured: Australian spotted jellyfish – Wadi Rum, Jordan – Sceliphron spirifex

On this day...

June 1: International Children's Day 1648 – Second English Civil War: Parliamentarian troops defeated Royalist forces in the Battle of Maidstone. 1794 – The Glorious First of June (pictured), the first and largest fleet action of the naval conflict between the Kingdom of Great Britain and the First French Republic during the French Revolutionary Wars, was fought. 1813 – War of 1812: Mortally wounded during a battle against the Royal Navy frigate HMS Shannon, American naval commander James Lawrence of the USS Chesapeake ordered his crew "Don't give up the ship!", today a popular battle cry. 1942 – Second World War: The crews of three Japanese Ko-hyoteki class submarines scuttled and committed suicide after entering Sydney Harbour and launching a failed attack. 2009 – En route from Rio de Janeiro to Paris, Air France Flight 447 crashed into the Atlantic Ocean, killing all 228 aboard.

Did you know..

.. that the Monmouth Regimental Museum displays a variety of objects, including a mediaeval "crock pot" and a baby gas mask (pictured)? ... that Lucio Fulci's 1977 film Sette note in nero has been compared to the later American film Eyes of Laura Mars? ... that although ROCOSes are visible astronomical objects, it is impossible to determine whether or not they belong to our galaxy? ... that Nikolai Ramm Østgaard served as president of the International Ski Federation for 17 years, from 1934 to 1951? ... that Reformed theologian G. I. Williamson, in the tradition of Puritan Sabbatarianism, says viewing television, newspapers or magazines is improper for Sunday Sabbath? ... that according to Rap-Up magazine, the double-sided poster included in Rihanna's 2009 box set 3 CD Collector's Set is worth the price of the album alone? ... that Snurge was the first maiden to win the St. Leger Stakes for 77 years and retired as the biggest money winner in European horseracing?

In the news

Viswanathan Anand (pictured) defeats Boris Gelfand to win a fourth consecutive World Chess Championship. American author Madeline Miller wins the Orange Prize for Fiction for her novel The Song of Achilles. Former Liberian President Charles Taylor is sentenced to 50 years in prison for his role in atrocities committed during the Sierra Leone Civil War. In response to the Houla massacre, high-ranking Syrian diplomats are expelled from several countries. Renato Corona, Chief Justice of the Supreme Court of the Philippines, is convicted in an impeachment trial for non-disclosure of assets. Two earthquakes hit Northern Italy, leaving 24 people dead and 14,000 more homeless. The incumbent Democratic Congress gains a plurality in the Lesotho general election.

Today's featured article

Steve Dodd (born 1928) is an Indigenous Australian actor, notable for playing indigenous characters across seven decades of Australian film. After beginning his working life as a stockman and rodeo rider, Dodd was given his first film roles by prominent Australian actor Chips Rafferty. His career was interrupted by six years in the Australian Army during the Korean War, and limited by discrimination and typecasting. Despite this, by 1985 he had appeared in 55 movies or television features. Dodd has performed in some of Australia's most prominent movies, including Gallipoli and The Chant of Jimmie Blacksmith, in which he played Tabidgi, the murdering uncle of the lead character. He has also held minor parts in Australia-based international film productions including The Coca-Cola Kid, Quigley Down Under and The Matrix. He has appeared in minor roles in early Australian television series, such as Homicide and Rush, as well as more recent series including The Flying Doctors. (more...) Recently featured: Chadderton – Louis Slotin – Timor Leste Defence Force
Wednesday 30 May 2012

Honors and public recognition

After Apple's founding, Jobs became a symbol of his company and industry. When Time named the computer as the 1982 "Machine of the Year", the magazine published a long profile of Jobs as "the most famous maestro of the micro".[257][258] Jobs was awarded the National Medal of Technology by President Ronald Reagan in 1985, with Steve Wozniak (among the first people to ever receive the honor),[259] and a Jefferson Award for Public Service in the category "Greatest Public Service by an Individual 35 Years or Under" (also known as the Samuel S. Beard Award) in 1987.[260] On November 27, 2007, Jobs was named the most powerful person in business by Fortune magazine.[261] On December 5, 2007, California Governor Arnold Schwarzenegger and First Lady Maria Shriver inducted Jobs into the California Hall of Fame, located at The California Museum for History, Women and the Arts.[262] In August 2009, Jobs was selected as the most admired entrepreneur among teenagers in a survey by Junior Achievement,[263] having previously been named Entrepreneur of the Decade 20 years earlier in 1989, by Inc. magazine.[264] On November 5, 2009, Jobs was named the CEO of the decade by Fortune magazine.[265] In November 2010, Jobs was ranked No.17 on Forbes: The World's Most Powerful People.[266] In December 2010, the Financial Times named Jobs its person of the year for 2010, ending its essay [267] by stating, "In his autobiography, John Sculley, the former PepsiCo executive who once ran Apple, said this of the ambitions of the man he had pushed out: 'Apple was supposed to become a wonderful consumer products company. This was a lunatic plan. High-tech could not be designed and sold as a consumer product.'".[268] The Financial Times closed by rhetorically asking of this quote, "How wrong can you be."[267] At the time of his resignation, and again after his death, Jobs was widely described as a visionary, pioneer and genius[269][270][271][272]—perhaps one of the foremost—in the field of business,[265][273] innovation,[274] and product design,[275] and a man who had profoundly changed the face of the modern world,[269][271][274] revolutionized at least six different industries,[270] and who was an "exemplar for all chief executives".[270] His death was widely mourned[274] and considered a loss to the world by commentators across the globe.[272] After his resignation as Apple's CEO, Jobs was characterized as the Thomas Edison and Henry Ford of his time.[276][277] In his The Daily Show eulogy, Jon Stewart said that unlike others of Jobs's ilk, such as Thomas Edison or Henry Ford, Jobs died young. He felt that we had, in a sense, "wrung everything out of" these other men, but his feeling on Jobs was that "we're not done with you yet."[278] Statue of Jobs at Graphisoft Park, Budapest[279] On December 21, 2011, Graphisoft company in Budapest presented the world's first bronze statue of Steve Jobs, calling him one of the greatest personalities of the modern age.[279] In January 2012, when young adults (ages 16 – 25) were asked to identify the greatest innovator of all time, Steve Jobs placed second behind Thomas Edison.[280] On February 12, 2012, Jobs was posthumously awarded the Grammy Trustees Award, an award for those who have influenced the music industry in areas unrelated to performance.[281] In March 2012, global business magazine Fortune named Steve Jobs the "greatest entrepreneur of our time", describing him as "brilliant, visionary, inspiring", and "the quintessential entrepreneur of our generation".[282] The Disney movie John Carter is dedicated to Jobs.[283]

Media coverage

Steve Jobs's death broke news headlines on ABC, CBS, and NBC. [244] Numerous newspapers around the world carried news of his death on their front pages the next day. Several notable people, including US President Barack Obama,[245] British Prime Minister David Cameron,[246] Microsoft founder Bill Gates,[247] and The Walt Disney Company's Bob Iger commented on the death of Jobs. Wired News collected reactions and posted them in tribute on their homepage.[248] Other statements of condolence were made by many of Jobs's friends and colleagues, such as Steve Wozniak and George Lucas.[249][250] Major media published commemorative works. Time published a commemorative issue for Jobs on October 8, 2011. The issues cover featured a portrait of Jobs, taken by Norman Seeff, in which he is sitting in the lotus position holding the original Macintosh computer, first published in Rolling Stone in January 1984. The issue marked the eighth time Jobs has been featured on the cover of Time.[251] The issue included a photographic essay by Diana Walker, a retrospective on Apple by Harry McCracken and Lev Grossman, and a six-page essay by Walter Isaacson. Isaacson's essay served as a preview of his biography, Steve Jobs.[252] Bloomberg Businessweek also published an commemorative, ad-free issue, featuring extensive essays by Steve Jurvetson, John Sculley, Sean Wisely, William Gibson, and Walter Isaacson. On its cover, Steve Jobs is pictured in gray scale, along with his name and lifespan. Although reporters wrote glowing elegies after Jobs died, Los Angeles Times media critic James Rainey reported that they "came courtesy of reporters who—after deadline and off the record—would tell stories about a company obsessed with secrecy to the point of paranoia. They remind us how Apple shut down a youthful fanboy blogger, punished a publisher that dared to print an unauthorized Jobs biography and repeatedly ran afoul of the most basic tenets of a free press."[253] Free software pioneer Richard Stallman drew attention to the tight corporate control Apple exercised over consumer computers and handheld devices, how Apple restricted news reporters, and persistently violated privacy: "Steve Jobs, the pioneer of the computer as a jail made cool, designed to sever fools from their freedom, has died".[254][255] Malcolm Gladwell in The New Yorker asserted that "Jobs's sensibility was editorial, not inventive. His gift lay in taking what was in front of him ... and ruthlessly refining it."[256] Apple "has taken stances that, in my opinion, are outright hostile to the practice of journalism," said longtime Silicon Valley reporter Dan Gillmor.[253] Under Jobs, Apple sued three "small fry" bloggers who reported tips about the company and its unreleased products and tried to use the courts to force them to reveal their sources. Under Jobs, Apple even sued a teenager, Nicholas Ciarelli, who wrote enthusiastic speculation about Apple products beginning at age 13. His popular blog, ThinkSecret, was a play on Apple's slogan "Think Different." [253] Rainey wrote that Apple wanted to kill ThinkSecret as "It thought any leaks, even favorable ones, diluted the punch of its highly choreographed product launches with Jobs, in his iconic jeans and mock turtleneck outfit, as the star." [253]

Death

Jobs died at his California home around 3 p.m. on October 5, 2011, due to complications from a relapse of his previously treated islet-cell neuroendocrine pancreatic cancer,[2][221][222] resulting in respiratory arrest.[223] He had lost consciousness the day before, and died with his wife, children and sister at his side.[224] Both Apple and Microsoft flew their flags at half-staff throughout their respective headquarters and campuses.[225][226] Bob Iger ordered all Disney properties, including Walt Disney World and Disneyland, to fly their flags at half-staff, from October 6 to 12, 2011.[227] His death was announced by Apple in a statement which read: We are deeply saddened to announce that Steve Jobs passed away today. Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve. His greatest love was for his wife, Laurene, and his family. Our hearts go out to them and to all who were touched by his extraordinary gifts.[228] For two weeks following his death, Apple's corporate Web site displayed a simple page, showing Jobs's name and lifespan next to his grayscale portrait.[229] Clicking on the image led to an obituary, which read: Apple has lost a visionary and creative genius, and the world has lost an amazing human being. Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple.[229] An email address was also posted for the public to share their memories, condolences, and thoughts.[230][231] Over a million tributes were sent, which are now displayed on the Steve Jobs memorial page. Also dedicating its homepage to Jobs was Pixar, with a photo of Jobs, John Lasseter and Edwin Catmull, and the eulogy they wrote:[232] Steve was an extraordinary visionary, our very dear friend, and our guiding light of the Pixar family. He saw the potential of what Pixar could be before the rest of us, and beyond what anyone ever imagined. Steve took a chance on us and believed in our crazy dream of making computer animated films; the one thing he always said was to 'make it great.' He is why Pixar turned out the way we did and his strength, integrity, and love of life has made us all better people. He will forever be part of Pixar's DNA. Our hearts go out to his wife Laurene and their children during this incredibly difficult time.[232] A small private funeral was held on October 7, 2011, of which details were not revealed out of respect to Jobs's family.[233] Apple announced on the same day that they had no plans for a public service, but were encouraging "well-wishers" to send their remembrance messages to an email address created to receive such messages.[234] Sunday, October 16, 2011, was declared "Steve Jobs Day" by Governor Jerry Brown of California.[235] On that day, an invitation-only memorial was held at Stanford University. Those in attendance included Apple and other tech company executives, members of the media, celebrities, close friends of Jobs, and politicians, along with Jobs's family. Bono, Yo Yo Ma, and Joan Baez performed at the service, which lasted longer than an hour. The service was highly secured, with guards at all of the university's gates, and a helicopter flying overhead from an area news station.[236][237] A private memorial service for Apple employees was held on October 19, 2011, on the Apple Campus in Cupertino. Present were Cook, Bill Campbell, Norah Jones, Al Gore, and Coldplay, and Jobs's widow, Laurene, was in attendance. Some of Apple's retail stores closed briefly so employees could attend the memorial. A video of the service is available on Apple's website.[238] Jobs is buried at Alta Mesa Memorial Park, the only non-denominational cemetery in Palo Alto.[239][240]. He is survived by Laurene, his wife of 20 years, their three children, and Lisa Brennan-Jobs, his daughter from a previous relationship.[241] His family released a statement saying that he "died peacefully".[242][243] He "looked at his sister Patty, then for a long time at his children, then at his life's partner, Laurene, and then over their shoulders past them" (Mona Simpson). His last words, spoken hours before his death, were: "Oh wow. Oh wow. Oh wow."[161]

Personal life

Jobs's birth parents met at the University of Wisconsin. Abdulfattah "John" Jandali, a Syrian Muslim,[155] taught there. Joanne Carole Schieble was his student; they were the same age because Jandali had "gotten his PhD really young." [156][157][158] Schieble had a career as a speech language pathologist. Jandali taught political science at the University of Nevada in the 1960s, and then made his career in the food and beverage industry, and since 2006, has been a vice president at a casino in Reno, Nevada.[159][160] In December 1955, ten months after giving up their baby boy, Schieble and Jandali married. In 1957 they had a daughter, Mona. They divorced in 1962, and Jandali lost touch with his daughter.[161] Her mother remarried and had Mona take the surname of her stepfather, so she became known as Mona Simpson.[157] In the 1980s, Jobs found his birth mother, Joanne Schieble Simpson, who told him he had a biological sister, Mona Simpson. They met for the first time in 1985[161] and became close friends. The siblings kept their relationship secret until 1986, when Mona introduced him at a party for her first book.[35] After deciding to search for their father, Simpson found Jandali managing a coffee shop. Without knowing who his son had become, Jandali told Mona that he had previously managed a popular restaurant in the Silicon Valley where "Even Steve Jobs used to eat there. Yeah, he was a great tipper." In a taped interview with his biographer Walter Isaacson, aired on 60 Minutes,[162] Jobs said: "When I was looking for my biological mother, obviously, you know, I was looking for my biological father at the same time, and I learned a little bit about him and I didn't like what I learned. I asked her to not tell him that we ever met...not tell him anything about me."[163] Jobs was in occasional touch with his mother Joanne Simpson,[151][164] who lives in a nursing home in Los Angeles.[157] When speaking about his biological parents, Jobs stated: "They were my sperm and egg bank. That's not harsh, it's just the way it was, a sperm bank thing, nothing more."[36] Jandali stated in an interview with the The Sun in August 2011, that his efforts to contact Jobs were unsuccessful. Jandali mailed in his medical history after Jobs's pancreatic disorder was made public that year.[165][166][167] In her eulogy to Jobs at his memorial service, Mona Simpson stated: I grew up as an only child, with a single mother. Because we were poor and because I knew my father had emigrated from Syria, I imagined he looked like Omar Sharif. I hoped he would be rich and kind and would come into our lives (and our not yet furnished apartment) and help us. Later, after I'd met my father, I tried to believe he'd changed his number and left no forwarding address because he was an idealistic revolutionary, plotting a new world for the Arab people. Even as a feminist, my whole life I'd been waiting for a man to love, who could love me. For decades, I'd thought that man would be my father. When I was 25, I met that man and he was my brother.[161] Jobs's first child, Lisa Brennan-Jobs, was born in 1978, the daughter of his longtime partner Chris Ann Brennan, a Bay Area painter.[151] For two years, she raised their daughter on welfare while Jobs denied paternity by claiming he was sterile; he later acknowledged Lisa as his daughter.[151] Jobs later married Laurene Powell on March 18, 1991, in a ceremony at the Ahwahnee Hotel in Yosemite National Park. Presiding over the wedding was Kobun Chino Otogawa, a Zen Buddhist monk. Their son, Reed, was born September 1991, followed by daughters Erin in August 1995, and Eve in 1998.[168] The family lives in Palo Alto, California.[169] Jobs demonstrating the iPhone 4 to Russian President Dmitry Medvedev on June 23, 2010 In the unauthorized biography, The Second Coming of Steve Jobs, author Alan Deutschman reports that Jobs once dated Joan Baez. Deutschman quotes Elizabeth Holmes, a friend of Jobs from his time at Reed College, as saying she "believed that Steve became the lover of Joan Baez in large measure because Baez had been the lover of Bob Dylan" (Dylan was the Apple icon's favorite musician). In another unauthorized biography, iCon: Steve Jobs by Jeffrey S. Young & William L. Simon, the authors suggest that Jobs might have married Baez, but her age at the time (41) meant it was unlikely the couple could have children. Jobs was also a fan of The Beatles. He referred to them on multiple occasions at Keynotes and also was interviewed on a showing of a Paul McCartney concert. When asked about his business model on 60 Minutes, he replied: My model for business is The Beatles: They were four guys that kept each other's negative tendencies in check; they balanced each other. And the total was greater than the sum of the parts. Great things in business are never done by one person, they are done by a team of people.[170] In 1982, Jobs bought an apartment in The San Remo, an apartment building in New York City with a politically progressive reputation, where Demi Moore, Steven Spielberg, Steve Martin, and Princess Yasmin Aga Khan, daughter of Rita Hayworth, also had apartments. With the help of I.M. Pei, Jobs spent years renovating his apartment in the top two floors of the building's north tower, only to sell it almost two decades later to U2 singer Bono. Jobs never moved in.[171][172] In 1984, Jobs purchased the Jackling House, a 17,000-square-foot (1,600 m2), 14-bedroom Spanish Colonial mansion designed by George Washington Smith in Woodside, California. Although it reportedly remained in an almost unfurnished state, Jobs lived in the mansion for almost ten years. According to reports, he kept a 1966 BMW R60/2 motorcycle in the living room, and let Bill Clinton use it in 1998. From the early 1990s, Jobs lived in a house in the Old Palo Alto neighborhood of Palo Alto. President Clinton dined with Jobs and 14 Silicon Valley CEOs there on August 7, 1996, at a meal catered by Greens Restaurant.[173][174] Clinton returned the favor and Jobs, who was a Democratic donor, slept in the Lincoln bedroom of the White House.[175] Jobs allowed Jackling House to fall into a state of disrepair, planning to demolish the house and build a smaller home on the property; but he met with complaints from local preservationists over his plans. In June 2004, the Woodside Town Council gave Jobs approval to demolish the mansion, on the condition that he advertise the property for a year to see if someone would move it to another location and restore it. A number of people expressed interest, including several with experience in restoring old property, but no agreements to that effect were reached. Later that same year, a local preservationist group began seeking legal action to prevent demolition. In January 2007, Jobs was denied the right to demolish the property, by a court decision.[176] The court decision was overturned on appeal in March 2010, and the mansion was demolished beginning in February 2011.[177] Jobs usually wore a black long-sleeved mock turtleneck made by Issey Miyake (that was sometimes reported to be made by St. Croix), Levi's 501 blue jeans, and New Balance 991 sneakers.[178][179] Jobs told Walter Isaacson "...he came to like the idea of having a uniform for himself, both because of its daily convenience (the rationale he claimed) and its ability to convey a signature style." [180] He was a pescetarian.[181] Jobs's car was a silver Mercedes-Benz SL 55 AMG, which did not display its license plates, as he took advantage of a California law which gives a maximum of six months for new vehicles to receive plates; Jobs leased a new SL every six months.[182] In a 2011 interview with biographer Walter Isaacson, Jobs revealed at one point he met with U.S. President Barack Obama, complained of the nation's shortage of software engineers, and told Mr. Obama that he was "headed for a one-term presidency." Jobs proposed that any foreign student who got an engineering degree at a U.S. university should automatically be offered a green card. After the meeting, Jobs commented, "The president is very smart, but he kept explaining to us reasons why things can't get done.... It infuriates me." [183] Jobs contributed to a number of political candidates and causes during his life, giving $209,000 to Democrats, $45,700 to associated special interests and $1,000 to a Republican.[184]

Philanthropy

Arik Hesseldahl of BusinessWeek magazine stated that "Jobs isn't widely known for his association with philanthropic causes", compared to Bill Gates's efforts.[147] In contrast to Gates, Jobs did not sign the Giving Pledge of Warren Buffett which challenged the world’s richest billionaires to give at least half their wealth to charity.[148] In an interview with Playboy in 1985, Jobs said in respect to money that “the challenges are to figure out how to live with it and to reinvest it back into the world which means either giving it away or using it to express your concerns or values.”[149] Jobs also added that when he has some time we would start a public foundation but for now he does charitable acts privately.[150] After resuming control of Apple in 1997, Jobs eliminated all corporate philanthropy programs initially.[151] Jobs’s friends told The New York Times that he felt that expanding Apple would have done more good than giving money to charity.[152] Later, under Jobs, Apple signed to participate in Product Red program, producing red versions of devices to give profits from sales to charity. Apple has gone on to become the largest contributor to the charity since its initial involvement with it. The chief of the Product Red project, singer Bono cited Jobs saying there was "nothing better than the chance to save lives," when he initially approached Apple with the invitation to participate in the program.[153] Through its sales, Apple has been the largest contributor to the Global Fund to fight AIDS, Tuberculosis and Malaria, according to Bono.[154]

iPhone

Jobs began work on the first iPhone in 2005 and the first iPhone was released on June 29, 2007. The iPhone created such a sensation that a survey indicated six out of ten Americans were aware of its release. Time magazine declared it "Invention of the Year" for 2007.[143] The Apple iPhone is a small device with multimedia capabilities and functions as a quad-band touch screen smartphone.[144] A year later, the iPhone 3G was released in July 2008 with the key feature was support for GPS, 3G data and quad-band UMTS/HSDPA. In June 2009, the iPhone 3GS, added voice control, a better camera, and a faster processor was introduced by Phil Schiller.[145] iPhone 4 was thinner than previous models, had a five megapixel camera which can record videos in 720p HD, and added a secondary front facing camera for video calls.[146] A major feature of the iPhone 4S, introduced in October 2011, was Siri, which is a virtual assistant that is capable of voice recognition.[143]

iPod

The first generation of iPod was released October 23, 2001. The major innovation of the iPod was its small size achieved by using a 1.8" hard drive compared to the 2.5" drives common to players at that time. The capacity of the first generation iPod ranged from 5G to 10 Gigabytes.[141] The iPod sold for US$399 and more than 100,000 iPods were sold before the end of 2001. The introduction of the iPod resulted in Apple becoming a major player in the music industry.[142] Also, the iPod’s success prepared the way for the iTunes music store and the iPhone.[131] After the 1st generation of iPod, Apple released the hard drive-based iPod classic, the touchscreen iPod Touch, video-capable iPod Nano, screenless iPod Shuffle in the following years.[142

iMac

Apple iMac was introduced in 1998 and its innovative design was directly the result of Jobs's return to Apple. Apple boasted "the back of our computer looks better than the front of anyone else's".[138] Described as "cartoonlike" the first iMac, clad in Bondi Blue plastic, was unlike any personal computer that came before. In 1999, Apple introduced Graphite gray Apple iMac and since has switched to all-white. Design ideas were intended to create a connection with the user such as the handle and a breathing light effect when the computer went to sleep..[139] The Apple iMac sold for $1,299 at that time. There was some technical revolutions for iMac too. The USB ports being the only device inputs on the iMac. So the iMac’s success helped popularize the interface among third party peripheral makers, which is evidenced by the fact that many early USB peripherals were made of translucent plastic to match the iMac design.[140]

The NeXT Computer

After Jobs was forced out of Apple in 1985, he started a company that built workstation computers. The NeXT Computer was introduced in 1989. The world’s first web browser was created on the NeXT Computer. The NeXT Computer was the basis for today’s Macintosh OS X and iPhone operating system (iOS).[137]

The Macintosh Computer

The Macintosh was introduced in January 1984. The computer had no “Mac” name on the front, but rather just the Apple logo.[130] The Macintosh have a friendly appearance since it was meant to be easy to use. The disk drive is below the display, the Macintosh was taller, narrower, more symmetrical, and far more suggestive of a face. The Macintosh was identified as a computer that ordinary people could understand.[136]

Apple II Computer

During 1976, Steve Wozniak began work on the Apple II, and left HP to join Apple computer. In March 1977, Apple Computer moved from Jobs's garage to an office in Cupertino. Apple Computer delivered its first Apple II system, for US$1295 in April 1977.[132] Steve Jobs once said the Apple II could be described as an "appliance" computer. The Apple II was the first computer to be enclosed in plastic.[133] Jobs insisted that molded plastic was essential to the computer as a consumer item. The desired effect was evidently achieved. The Apple II was “elegantly styled" and it became compared to an "overgrown pocket calculator".[134] Ten months after its introduction, Apple Computer began work on an enhanced Apple II with custom chips, code-named Annie, in 1978. At the same year, they began work on a supercomputer named Lisa; it featured a bit-sliced architecture. After two and a half years, 50,000 Apple II units had been sold until 1979. Nearly one-third of Canadians credited the Apple II as the first personal computer which having the most impact on society.[135]

Apple I Computer

The first significant invention that Steve Jobs was involved in was the Apple I which came along in 1976. Steve Jobs and Steve Wozniak, who was at the time working for HP, scraped together some cash for printed circuit boards. Then they planned to sell the machine as a kit for $666.66. A store called the Byte Shop ordered 50 fully assembled devices, and sold them all.[130] The Apple’s first computer was for hobbyists and engineers so it was made in small numbers.[131]

Inventions and designs

His design sense was greatly influenced by the Buddhism which he experienced in India while on a seven-month spiritual journey.[124] His sense of intuition was also influenced by the spiritual people with whom he studied.[124] As of October 9, 2011, Jobs is listed as either primary inventor or co-inventor in 342 United States patents or patent applications related to a range of technologies from actual computer and portable devices to user interfaces (including touch-based), speakers, keyboards, power adapters, staircases, clasps, sleeves, lanyards and packages. Most of these are design patents (specific product designs) as opposed to utility patents (inventions).[125][126] He has 43 issued US patents on inventions.[127] The patent on the Mac OS X Dock user interface with "magnification" feature was issued the day before he died.[128] Applying his Triple F Model to Apple under Steve Jobs, Anand Kurian opines that Job's contribution in the area of pure ‘Function’ are less significant, but that his contribution in the areas of ‘Functionality’ and ‘Form’ are major and substantial.[129]

Reality distortion field

Apple's Bud Tribble coined the term "reality distortion field" in 1981, to describe Jobs's charisma and its effects on the developers working on the Macintosh project.[120] Tribble claimed that the term came from Star Trek.[120] Since then the term has also been used to refer to perceptions of Jobs's keynote speeches.[121] The RDF was said by Andy Hertzfeld to be Steve Jobs's ability to convince himself and others to believe almost anything, using a mix of charm, charisma, bravado, hyperbole, marketing, appeasement, and persistence. Although the subject of criticism, Jobs's so-called reality distortion field was also recognized as creating a sense that the impossible was possible. Once the term became widely known, it was often used in the technology press to describe Jobs's sway over the public, particularly regarding new product announcements.[122][123]

Management style

Jobs was a demanding perfectionist[107][108] who always aspired to position his businesses and their products at the forefront of the information technology industry by foreseeing and setting trends, at least in innovation and style. He summed up that self-concept at the end of his keynote speech at the Macworld Conference and Expo in January 2007, by quoting ice hockey player Wayne Gretzky There's an old Wayne Gretzky quote that I love. 'I skate to where the puck is going to be, not where it has been.' And we've always tried to do that at Apple. Since the very very beginning. And we always will.[109] Steve Jobs announcing the transition to Intel processors in 2005. Much was made of Jobs's aggressive and demanding personality. Fortune wrote that he was "considered one of Silicon Valley's leading egomaniacs".[110] Commentaries on his temperamental style can be found in Michael Moritz's The Little Kingdom, The Second Coming of Steve Jobs, by Alan Deutschman; and iCon: Steve Jobs, by Jeffrey S. Young & William L. Simon. In 1993, Jobs made Fortune's list of America's Toughest Bosses in regard to his leadership of NeXT. NeXT Cofounder Dan'l Lewin was quoted in Fortune as saying of that period, "The highs were unbelievable ... But the lows were unimaginable", to which Jobs's office replied that his personality had changed since then.[111] In 2005, Jobs banned all books published by John Wiley & Sons from Apple Stores in response to their publishing an unauthorized biography, iCon: Steve Jobs.[112] In its 2010 annual earnings report, Wiley said it had "closed a deal ... to make its titles available for the iPad."[113] Jef Raskin, a former colleague, once said that Jobs "would have made an excellent king of France", alluding to Jobs's compelling and larger-than-life persona.[114] Floyd Norman said that at Pixar, Jobs was a "mature, mellow individual" and never interfered with the creative process of the filmmakers.[115] Jobs had a public war of words with Dell Computer CEO Michael Dell, starting in 1987 when Jobs first criticized Dell for making "un-innovative beige boxes".[116] On October 6, 1997, in a Gartner Symposium, when Michael Dell was asked what he would do if he ran then-troubled Apple Computer, he said "I'd shut it down and give the money back to the shareholders."[117] In 2006, Jobs sent an email to all employees when Apple's market capitalization rose above Dell's. The email read: Team, it turned out that Michael Dell wasn't perfect at predicting the future. Based on today's stock market close, Apple is worth more than Dell. Stocks go up and down, and things may be different tomorrow, but I thought it was worth a moment of reflection today. Steve.[118] Jobs was also a board member at Gap Inc. from 1999 to 2002.[119]

Stock options backdating issue

In 2001, Jobs was granted stock options in the amount of 7.5 million shares of Apple with an exercise price of $18.30. It was alleged that the options had been backdated, and that the exercise price should have been $21.10. It was further alleged that Jobs had thereby incurred taxable income of $20,000,000 that he did not report, and that Apple overstated its earnings by that same amount. As a result, Jobs potentially faced a number of criminal charges and civil penalties. The case was the subject of active criminal and civil government investigations,[103] though an independent internal Apple investigation completed on December 29, 2006, found that Jobs was unaware of these issues and that the options granted to him were returned without being exercised in 2003.[104] On July 1, 2008, a $7-billion class action suit was filed against several members of the Apple Board of Directors for revenue lost due to the alleged securities fraud.[105][106]

Wealth

Jobs earned only $1 a year as CEO of Apple,[98] Jobs held 5.426 million Apple shares worth $2.1 billion, as well as 138 million shares in Disney (which he received in exchange for Disney's acquisition of Pixar) worth $4.4 billion.[99][100] Jobs quipped that the $1 per annum he was paid by Apple was based on attending one meeting for 50 cents while the other 50 cents was based on his performance.[101] Forbes estimated his net wealth at $8.3 billion in 2010, making him the 42nd wealthiest American.[102]

Resignation

In August 2011, Jobs resigned as CEO of Apple, but remained with the company as chairman of the company's board.[92][93] Hours after the announcement, Apple Inc. (AAPL) shares dropped five percent in after-hours trading.[94] This relatively small drop, when considering the importance of Jobs to Apple, was associated with the fact that his health had been in the news for several years, and he had been on medical leave since January 2011.[95] It was believed, according to Forbes, that the impact would be felt in a negative way beyond Apple, including at The Walt Disney Company where Jobs served as director.[96] In after-hours trading on the day of the announcement, Walt Disney Co. (DIS) shares dropped 1.5 percent.[97]

Return to Apple

See also: "1998–2005: Return to profitability" in Apple, Inc. Logo for the Think Different campaign designed by TBWA\Chiat\Day and initiated by Jobs after his return to Apple Computer in 1997. In 1996, Apple announced that it would buy NeXT for $427 million. The deal was finalized in late 1996,[85] bringing Jobs back to the company he co-founded. Jobs became de facto chief after then-CEO Gil Amelio was ousted in July 1997. He was formally named interim chief executive in September.[86] In March 1998, to concentrate Apple's efforts on returning to profitability, Jobs terminated a number of projects, such as Newton, Cyberdog, and OpenDoc. In the coming months, many employees developed a fear of encountering Jobs while riding in the elevator, "afraid that they might not have a job when the doors opened. The reality was that Jobs's summary executions were rare, but a handful of victims was enough to terrorize a whole company."[87] Jobs also changed the licensing program for Macintosh clones, making it too costly for the manufacturers to continue making machines. With the purchase of NeXT, much of the company's technology found its way into Apple products, most notably NeXTSTEP, which evolved into Mac OS X. Under Jobs's guidance, the company increased sales significantly with the introduction of the iMac and other new products; since then, appealing designs and powerful branding have worked well for Apple. At the 2000 Macworld Expo, Jobs officially dropped the "interim" modifier from his title at Apple and became permanent CEO.[88] Jobs quipped at the time that he would be using the title "iCEO".[89] Jobs on stage at Macworld Conference & Expo, San Francisco, January 11, 2005 The company subsequently branched out, introducing and improving upon other digital appliances. With the introduction of the iPod portable music player, iTunes digital music software, and the iTunes Store, the company made forays into consumer electronics and music distribution. On June 29, 2007, Apple entered the cellular phone business with the introduction of the iPhone, a multi-touch display cell phone, which also included the features of an iPod and, with its own mobile browser, revolutionized the mobile browsing scene. While stimulating innovation, Jobs also reminded his employees that "real artists ship".[90] Jobs was both admired and criticized for his consummate skill at persuasion and salesmanship, which has been dubbed the "reality distortion field" and was particularly evident during his keynote speeches (colloquially known as "Stevenotes") at Macworld Expos and at Apple Worldwide Developers Conferences. In 2005, Jobs responded to criticism of Apple's poor recycling programs for e-waste in the US by lashing out at environmental and other advocates at Apple's Annual Meeting in Cupertino in April. A few weeks later, Apple announced it would take back iPods for free at its retail stores. The Computer TakeBack Campaign responded by flying a banner from a plane over the Stanford University graduation at which Jobs was the commencement speaker.[43] The banner read "Steve, don't be a mini-player—recycle all e-waste". In 2006, he further expanded Apple's recycling programs to any US customer who buys a new Mac. This program includes shipping and "environmentally friendly disposal" of their old systems.[91]

Pixar and Disney

In 1986, Jobs bought The Graphics Group (later renamed Pixar) from Lucasfilm's computer graphics division for the price of $10 million, $5 million of which was given to the company as capital.[78] The first film produced by the partnership, Toy Story, with Jobs credited as executive producer,[79] brought fame and critical acclaim to the studio when it was released in 1995. Over the next 15 years, under Pixar's creative chief John Lasseter, the company produced box-office hits A Bug's Life (1998); Toy Story 2 (1999); Monsters, Inc. (2001); Finding Nemo (2003); The Incredibles (2004); Cars (2006); Ratatouille (2007); WALL-E (2008); Up (2009); and Toy Story 3 (2010). Finding Nemo, The Incredibles, Ratatouille, WALL-E, Up and Toy Story 3 each received the Academy Award for Best Animated Feature, an award introduced in 2001.[80] Steve Jobs on computer graphics Steve Jobs on computer graphics. Interview excerpt from 1995.[81] In the years 2003 and 2004, as Pixar's contract with Disney was running out, Jobs and Disney chief executive Michael Eisner tried but failed to negotiate a new partnership,[82] and in early 2004, Jobs announced that Pixar would seek a new partner to distribute its films after its contract with Disney expired. In October 2005, Bob Iger replaced Eisner at Disney, and Iger quickly worked to patch up relations with Jobs and Pixar. On January 24, 2006, Jobs and Iger announced that Disney had agreed to purchase Pixar in an all-stock transaction worth $7.4 billion. When the deal closed, Jobs became The Walt Disney Company's largest single shareholder with approximately seven percent of the company's stock.[12] Jobs's holdings in Disney far exceeded those of Eisner, who holds 1.7 percent, and of Disney family member Roy E. Disney, who until his 2009 death held about one percent of the company's stock and whose criticisms of Eisner — especially that he soured Disney's relationship with Pixar — accelerated Eisner's ousting. Jobs joined the company's board of directors upon completion of the merger and also helped oversee Disney and Pixar's combined animation businesses from a seat on a special six-person steering committee.[83] Upon Jobs's death his shares in Disney were transferred to the Steven P. Jobs Trust led by Laurene Jobs.[84]

NeXT Computer

After leaving Apple, Jobs founded NeXT Computer in 1985, with $7 million. A year later, Jobs was running out of money, and with no product on the horizon, he appealed for venture capital. Eventually, he attracted the attention of billionaire Ross Perot who invested heavily in the company.[72] NeXT workstations were first released in 1990, priced at $9,999. Like the Apple Lisa, the NeXT workstation was technologically advanced, but was largely dismissed as cost-prohibitive by the educational sector for which it was designed.[73] The NeXT workstation was known for its technical strengths, chief among them its object-oriented software development system. Jobs marketed NeXT products to the financial, scientific, and academic community, highlighting its innovative, experimental new technologies, such as the Mach kernel, the digital signal processor chip, and the built-in Ethernet port. Tim Berners-Lee invented the World Wide Web on a NeXT computer at CERN.[74] The revised, second-generation NeXTcube was released in 1990, also. Jobs touted it as the first "interpersonal" computer that would replace the personal computer. With its innovative NeXTMail multimedia email system, NeXTcube could share voice, image, graphics, and video in email for the first time. "Interpersonal computing is going to revolutionize human communications and groupwork", Jobs told reporters.[75] Jobs ran NeXT with an obsession for aesthetic perfection, as evidenced by the development of and attention to NeXTcube's magnesium case.[76] This put considerable strain on NeXT's hardware division, and in 1993, after having sold only 50,000 machines, NeXT transitioned fully to software development with the release of NeXTSTEP/Intel.[77] The company reported its first profit of $1.03 million in 1994.[72] In 1996, NeXT Software, Inc. released WebObjects, a framework for Web application development. After NeXT was acquired by Apple Inc. in 1997, WebObjects was used to build and run the Apple Store,[77] MobileMe services, and the iTunes Store.

Early life and education

Steven Paul Jobs was born in San Francisco on February 24, 1955 to two university students, Joanne Carole Schieble and Syrian-born Abdulfattah "John" Jandali (Arabic: عبدالفتاح جندلي‎), who were both unmarried at the time.[32] Jandali, who was teaching in Wisconsin when Steve was born in 1955, said he had no choice but to put the baby up for adoption because his girlfriend's family objected to their relationship.[33] The baby was adopted at birth by Paul Reinhold Jobs (1922–1993) and Clara Jobs (1924–1986), an Armenian-American[3] whose maiden name was Hagopian.[34] Later, when asked about his "adoptive parents," Jobs replied emphatically that Paul and Clara Jobs "were my parents."[35] He stated in his authorized biography that they "were my parents 1,000%."[36] Unknown to him, his biological parents would subsequently marry (December 1955), have a second child Mona Simpson in 1957, and divorce in 1962.[36] The Jobs family moved from San Francisco to Mountain View, California when Steve was five years old.[1][2] The parents later adopted a daughter, Patti. Paul was a machinist for a company that made lasers, and taught his son rudimentary electronics and how to work with his hands.[1] The father showed Steve how to work on electronics in the family garage, demonstrating to his son how to take apart and rebuild electronics such as radios and televisions. As a result, Steve became interested in and developed a hobby of technical tinkering.[37] Clara was an accountant[35] who taught him to read before he went to school.[1] Clara Jobs had been a payroll clerk for Varian Associates, one of the first high-tech firms in what became known as Silicon Valley.[38] Jobs's youth was riddled with frustrations over formal schooling. At Monta Loma Elementary school in Mountain View, he was a prankster whose fourth-grade teacher needed to bribe him to study. Jobs tested so well, however, that administrators wanted to skip him ahead to high school—a proposal his parents declined.[39] Jobs then attended Cupertino Junior High and Homestead High School in Cupertino, California.[2] At Homestead, Jobs became friends with Bill Fernandez, a neighbor who shared the same interests in electronics. Fernandez introduced Jobs to another, older computer whiz kid, Stephen Wozniak (also known as "Woz"). In 1969 Woz started building a little computer board with Fernandez that they named “The Cream Soda Computer”, which they showed to Jobs; he seemed really interested.[40] Jobs frequented after-school lectures at the Hewlett-Packard Company in Palo Alto, California, and was later hired there, working with Wozniak as a summer employee.[41] Following high school graduation in 1972, Jobs enrolled at Reed College in Portland, Oregon. Reed was an expensive college which Paul and Clara could ill afford. They were spending much of their life savings on their son’s higher education.[40] Jobs dropped out of college after six months and spent the next 18 months dropping in on creative classes, including a course on calligraphy.[42] He continued auditing classes at Reed while sleeping on the floor in friends' dorm rooms, returning Coke bottles for food money, and getting weekly free meals at the local Hare Krishna temple.[43] Jobs later said, "If I had never dropped in on that single calligraphy course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts."[43]

Early career

In 1974, Jobs took a job as a technician at Atari, Inc. in Los Gatos, California.[44] He traveled to India in mid-1974[45] to visit Neem Karoli Baba[46] at his Kainchi Ashram with a Reed College friend (and, later, an early Apple employee), Daniel Kottke, in search of spiritual enlightenment. When they got to the Neem Karoli ashram, it was almost deserted as Neem Karoli Baba had died in September 1973.[44] Then they made a long trek up a dry riverbed to an ashram of Hariakhan Baba. In India, they spent a lot of time on bus rides from Delhi to Uttar Pradesh and back, then up to Himachal Pradesh and back.[44] After staying for seven months, Jobs left India[47] and returned to the US ahead of Daniel Kottke.[44] Jobs had changed his appearance; his head was shaved and he wore traditional Indian clothing.[48][49] During this time, Jobs experimented with psychedelics, later calling his LSD experiences "one of the two or three most important things [he had] done in [his] life".[50] He also became a serious practitioner of Zen Buddhism, engaged in lengthy meditation retreats at the Tassajara Zen Mountain Center, the oldest Sōtō Zen monastery in the US.[51] He considered taking up monastic residence at Eihei-ji in Japan, and maintained a lifelong appreciation for Zen.[52] Jobs would later say that people around him who did not share his countercultural roots could not fully relate to his thinking.[50] Jobs then returned to Atari, and was assigned to create a circuit board for the arcade video game Breakout. According to Atari co-founder Nolan Bushnell, Atari offered $100 for each chip that was eliminated in the machine. At that time, Jobs had little specialized knowledge of circuit board design and made a deal with Wozniak to split the fee evenly between them if Wozniak could minimize the number of chips. Much to the amazement of Atari engineers, Wozniak reduced the number of chips by 50, a design so tight that it was impossible to reproduce on an assembly line.[further explanation needed] According to Wozniak, Jobs told him that Atari gave them only $700 (instead of the offered $5,000), and that Wozniak's share was thus $350.[53] Wozniak did not learn about the actual bonus until ten years later, but said that if Jobs had told him about it and had said he needed the money, Wozniak would have given it to him.[54] In the early 1970s, Jobs and Wozniak were drawn to technology like a magnet. Wozniak had designed a low-cost digital "blue box" to generate the necessary tones to manipulate the telephone network, allowing free long-distance calls. Jobs decided that they could make money selling it. The clandestine sales of the illegal "blue boxes" went well, and perhaps planted the seed in Jobs's mind that electronics could be fun and profitable.[55] In 1976, Jobs and Wozniak formed their own business, which they named “Apple Computer Company” in remembrance of a happy summer Jobs had spent picking apples. At first they started off selling circuit boards, but eventually they produced a complete computer prototype.[56] Jobs began attending meetings of the Homebrew Computer Club with Wozniak in 1975.[2] He greatly admired Edwin H. Land, the inventor of instant photography and founder of Polaroid Corporation, and would explicitly model his own career after that of Land's.[57][58]

Career

Apple Computer See also: History of Apple Home of Paul and Clara Jobs, on Crist Drive in Los Altos, California. Steve Jobs formed Apple Computer in its garage with Steve Wozniak and Ronald Wayne in 1976. Wayne stayed only a short time, leaving Jobs and Wozniak as the primary co-founders of the company. Jobs and Steve Wozniak met in 1971, when their mutual friend, Bill Fernandez, introduced 21-year-old Wozniak to 16-year-old Jobs. In 1976, Wozniak invented the Apple I computer. Jobs, Wozniak, and Ronald Wayne founded Apple computer in the garage of Jobs's parents in order to sell it.[59] They received funding from a then-semi-retired Intel product-marketing manager and engineer Mike Markkula.[60] In 1978, Apple recruited Mike Scott from National Semiconductor to serve as CEO for what turned out to be several turbulent years. In 1983, Jobs lured John Sculley away from Pepsi-Cola to serve as Apple's CEO, asking, "Do you want to sell sugar water for the rest of your life, or do you want to come with me and change the world?"[61] In the early 1980s, Jobs was among the first to see the commercial potential of Xerox PARC's mouse-driven graphical user interface, which led to the creation of the Apple Lisa. One year later, Apple employee Jef Raskin invented the Macintosh.[62][63] The following year, Apple aired a Super Bowl television commercial titled "1984". At Apple's annual shareholders meeting on January 24, 1984, an emotional Jobs introduced the Macintosh to a wildly enthusiastic audience; Andy Hertzfeld described the scene as "pandemonium".[64] Apple logo in 1977, created by Rob Janoff with the rainbow color theme used until 1998. While Jobs was a persuasive and charismatic director for Apple, some of his employees from that time described him as an erratic and temperamental manager. Disappointing sales caused a deterioration in Jobs's working relationship with Sculley and it eventually became a power struggle between Jobs and Sculley.[65] Jobs kept meetings running past midnight, sent out lengthy faxes, then called new meetings at 7:00 am.[66] Sculley learned that Jobs—believing Sculley to be "bad for Apple" and the wrong person to lead the company—had been attempting to organize a boardroom coup, and on May 24, 1985, called a board meeting to resolve the matter.[65] Apple's board of directors sided with Sculley and removed Jobs from his managerial duties as head of the Macintosh division.[67][68] Jobs resigned from Apple five months later[65] and founded NeXT Inc. the same year.[66][69] In a speech Jobs gave at Stanford University in 2005, he said being fired from Apple was the best thing that could have happened to him; "The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life." And he added, "I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful-tasting medicine, but I guess the patient needed it."[43][70][71]

Steve Jobs

Steven Paul "Steve" Jobs (/ˈdʒɒbz/; February 24, 1955 – October 5, 2011)[5][6] was an American businessman, designer and inventor. He is best known as the co-founder, chairman, and chief executive officer of Apple Inc. Through Apple, he was widely recognized as a charismatic pioneer of the personal computer revolution[7][8] and for his influential career in the computer and consumer electronics fields. Jobs also co-founded and served as chief executive of Pixar Animation Studios; he became a member of the board of directors of The Walt Disney Company in 2006, when Disney acquired Pixar. In the late 1970s, Apple co-founder Steve Wozniak engineered one of the first commercially successful lines of personal computers, the Apple II series. Jobs was among the first to see the commercial potential of Xerox PARC's mouse-driven graphical user interface, which led to the creation of the Apple Lisa and, one year later, the Macintosh. During this period he also led efforts that would begin the desktop publishing revolution, notably through the introduction of the LaserWriter and the associated PageMaker software.[9] After losing a power struggle with the board of directors in 1985, Jobs left Apple and founded NeXT, a computer platform development company specializing in the higher-education and business markets. In 1986, he acquired the computer graphics division of Lucasfilm, which was spun off as Pixar.[10] He was credited in Toy Story (1995) as an executive producer. He remained CEO and majority shareholder at 50.1 percent until its acquisition by The Walt Disney Company in 2006,[11] making Jobs Disney's largest individual shareholder at seven percent and a member of Disney's Board of Directors.[12][13] After difficulties developing a new Mac operating system, Apple purchased NeXT in 1996 in order to use NeXTSTEP as the basis for what became Mac OS X.[14] As part of the deal Jobs was named Apple advisor. As Apple floundered, Jobs took control of the company and was named "interim CEO" in 1997, or as he jokingly referred to it, "iCEO". Under his leadership, Apple was saved from near bankruptcy, and became profitable by 1998.[15][16] Over the next decade, Jobs oversaw the development of the iMac, iTunes, iPod, iPhone, and iPad, and on the services side, the company's Apple Retail Stores, iTunes Store and the App Store.[17] The success of these products and services, providing several years of stable financial returns, propelled Apple to become the world's most valuable publicly traded company in 2011.[18] The reinvigoration of the company is regarded by many commentators as one of the greatest turnarounds in business history.[19][20][21] In 2003, Jobs was diagnosed with a pancreas neuroendocrine tumor. Though it was initially treated, he reported a hormone imbalance, underwent a liver transplant in 2009, and appeared progressively thinner as his health declined.[22] On medical leave for most of 2011, Jobs resigned as Apple CEO in August that year and was elected Chairman of the Board. He died of respiratory arrest related to his metastatic tumor on October 5, 2011. Jobs has received a number of honors and public recognition for his influence in the technology and music industries. He has widely been referred to as "legendary", a "futurist" or simply "visionary",[23][24][25][26] and has been described as the "Father of the Digital Revolution",[27] a "master of innovation",[28][29] and a "design perfectionist".[30][31] Contents [hide] 1 Early life and education 2 Early career 3 Career 3.1 Apple Computer 3.2 NeXT Computer 3.3 Pixar and Disney 3.4 Return to Apple 3.5 Resignation 4 Business life 4.1 Wealth 4.2 Stock options backdating issue 4.3 Management style 4.3.1 Reality distortion field 4.4 Inventions and designs 4.4.1 Apple I Computer 4.4.2 Apple II Computer 4.4.3 The Macintosh Computer 4.4.4 The NeXT Computer 4.4.5 iMac 4.4.6 iPod 4.4.7 iPhone 4.5 Philanthropy 5 Personal life 5.1 Health issues 6 Death 6.1 Media coverage 7 Honors and public recognition 8 Portrayals and coverage in books, film, and theater 8.1 Books 8.2 Documentaries 8.3 Films 8.4 Theater 9 References 10 Further reading 11 External links 11.1 Articles 11.2 Interviews

Today's featured picture

The Australian spotted jellyfish (Phyllorhiza punctata) is a species of jellyfish native to the southwestern Pacific, but has also been found in the Gulf of Mexico and the western Atlantic. It feeds primarily on zooplankton and grows to an average of 45–50 cm (18–20 in) in diameter. They have only a mild venom and are not considered a threat to humans. Photo: Nick Hobgood Recently featured: Wadi Rum, Jordan – Sceliphron spirifex – Lockheed Martin F-22 Raptor

Did you know

.. that the Požega Valley is home to the oldest continuously operating wine cellar in Croatia, built by Cistercians in Kutjevo (pictured) in 1232? ... that actress Lisa George was told by a singing teacher at the Royal Welsh College of Music & Drama that she was "too big" to be successful in musical theatre? ... that in 1983, in the Russian military town Serpukhov-15, the system controlling the Soviet Union's Oko satellites received warning of American ICBMs being launched? ... that the American film All the Vermeers in New York was created as a tribute to the director's father? ... that the ringback tone for the Indonesian music duo Ratu's song about friends with benefits was downloaded more than a million times? ... that the Annaberg hill (Góra Świętej Anny) in Silesia has a pilgrimage church that remained popular despite Nazi efforts to draw attention away with an open-air theatre and a heroes' mausoleum? ... that Duke Zhuang II of Qi ascended the throne with the help of minister Cui Zhu, but was later killed by Cui for having an affair with his wife?

On this day

May 31: World No Tobacco Day; Feast of the Visitation (Roman Catholicism and Anglicanism) 455 – Emperor Petronius Maximus of the Western Roman Empire was stoned to death by an angry mob after only 78 days upon the throne. 1669 – Citing poor eyesight, English naval administrator and Member of Parliament Samuel Pepys recorded his last entry in his diary, one of the most important primary sources for the English Restoration period. 1916 – The German Kaiserliche Marine and British Royal Navy clashed in the Battle of Jutland, the largest naval battle of the First World War. 1921 – A large-scale race riot began in Tulsa, Oklahoma, US, in which the wealthiest African-American community in the United States, the Greenwood District, was destroyed by fire. 1941 – The United Kingdom completed its re-occupation of Iraq, returning 'Abd al-Ilah to power as regent for Faisal II

In the news

Former Liberian President Charles Taylor is sentenced to 50 years in prison for his role in atrocities committed during the Sierra Leone Civil War. In response to the Houla massacre, high-ranking Syrian diplomats are expelled from several countries. Renato Corona (pictured), Chief Justice of the Supreme Court of the Philippines, is convicted in an impeachment trial for non-disclosure of assets. Two earthquakes hit Northern Italy, leaving 24 people dead and 14,000 more homeless. The discovery of Flame, a complex malware program targeting computers in Middle Eastern countries, is announced.

Today's featured article

Chadderton is a town within the Metropolitan Borough of Oldham, in Greater Manchester, England, historically a part of Lancashire. It lies along the course of the River Irk and the Rochdale Canal, on undulating land in the foothills of the Pennines. During the Middle Ages, Chadderton was chiefly distinguished by its two mansions, Foxdenton Hall and Chadderton Hall, and by the prestigious families who occupied them. Its early history is marked by its status as a manorial township, with its own line of lords and overlords. Farming was the main industry of the area, with locals supplementing their incomes by hand-loom woollen weaving in the domestic system. Chadderton's urbanisation and expansion largely coincided with developments in textile manufacture during the Industrial Revolution and the Victorian era. A late 19th-century factory-building boom transformed Chadderton from a rural township into a major mill town and the second most populous urban district in the United Kingdom. Although Chadderton's industries declined during the mid-20th century, the town continued to grow as a result of suburbanisation and urban renewal. The legacy of the town's industrial past remains visible in its landscape of red-brick cotton mills, now used as warehouses or distribution centres. (more...) Recently featured: Louis Slotin – Timor Leste Defence Force – "The Last Temptation of Krust"
Tuesday 29 May 2012

Happy Days

For years during its run, producer Garry Marshall was fond of joking that Love, American Style was where failed sitcom pilots went to die. At the time, if a TV producer could not interest a network in a sitcom pilot, the producer would then sell the unused script to Spelling, who would extract the funniest bits of the pilot and use them as a segment on Love, American Style. When Marshall came up with a sitcom concept originally titled New Family In Town, shot a pilot for it in 1971, and couldn't interest any of the three major networks in a show about teenagers growing up in the 1950s, he finally took advantage of the well-known anecdote for Hollywood writers and producers. After the completed pilot was sold to Spelling, the show aired in February 1972 as one-half of the episode known as "Love and the Happy Days", starring Ron Howard as Richie, Marion Ross as Richie's mother, and Anson Williams as Potsie, Richie's friend, along with Harold Gould, Susan Neher and Ric Carrott in supporting roles as Howard, Richie's father, Joanie, Richie's sister, and Chuck, Richie's older brother, respectively. However, when the 1971 musical Grease became a huge hit on Broadway in early 1972, a wave of 1950s nostalgia was born. That fall, CBS tried out a sitcom of its own, also based in the `50s, entitled M*A*S*H, but the series struggled in its first season, narrowly escaping cancellation. When American Graffiti became another huge hit in Hollywood the following summer, CBS picked up the show for a second season, beginning its eleven-year reign as the longest running and most successful sitcom in the history of American television. Not wishing to be left behind, ABC executives picked up Marshall's pilot after all, replacing Gould, Neher, and Carrott in the process and truncating its name to Happy Days. With an eleven-year run of its own, the show became the second biggest sitcom success of the `70s after M*A*S*H and spawned numerous successful spinoffs. Hanna-Barbera's animated Wait Till Your Father Gets Home was another series pilot which originally aired on Love, American Style. Paramount declined to be involved in that series, but

Format

Each week, the show featured unrelated stories of romance, usually with a comedic spin. Episodes featured different characters, stories, and locations. The show often featured the same actors playing different characters in many episodes. In addition, a large, ornate brass bed was a recurring prop in many episodes. Charles Fox's delicate yet hip music score, featuring flutes, harp, and flugelhorn set to a contemporary pop beat, provided the "love" ambiance which tied the stories together as a multifaceted romantic comedy each week. For its first season, the theme song was performed by The Cowsills. Beginning in the second season, the same theme song was sung by the Ron Hicklin Singers featuring the Bahler Brothers John and Tom, (billed as The Charles Fox Singers). This second version of the theme was carried on for the remainder of the series, as well as on most episodes prepared for syndication. In many ways, the show initiated the "mini comedic soap opera" form used and "perfected" later on by Aaron Spelling for The Love Boat. While it lacked the connective threads that The Love Boat used, it generally told the same sort of "cotton candy" light, emotional stories about underlying aspects of love, romance, and human relationships. The title is loosely derived from a 1961 Italian comedy film called Divorzio all'italiana (Divorce, Italian Style), which received Academy Award nominations in 1962 for Best Director for Pietro Germi and for Best Actor for star Marcello Mastroianni. The film was later spoofed in 1967 by Divorce, American Style, starring Dick Van Dyke. The snowclone "(xxx), (nationality) Style" became a minor cultural catch-phrase as the 1960s progressed. The troupe in 1973. The original series was also known for its 10–20-second drop-in silent movie-style "joke clips" between the featured segments. This regular troupe featured future Rockford Files cast member Stuart Margolin, future Vega$ leading lady Phyllis Davis, and a young character actor, James Hampton (F Troop, The Longest Yard). These clips allowed the show to be padded to the required length without padding the main segments. They generally consisted of then-risque, burlesque-style comedy of manners visual jokes. During its first four years on ABC, Love, American Style was popular with viewers and received decent ratings, although it never ranked among the top thirty shows in the Nielsens. For a few seasons, it was part of a power-house line-up of ABC programs on Friday, which included The Brady Bunch, The Partridge Family, Room 222, and The Odd Couple. At the start of the 1973-1974 fall season, the ratings for Love, American Style, and Room 222 had plummeted. As a result, both shows were canceled at midseason. The series received several Emmy nominations, including two for Best Comedy Series for 1969–1970 and 1970–1971. The show subsequently became a daytime standard in syndication, since it was readily edited down to a half-hour by the proper interweaving of the clips with a main segment, effectively making ten seasons out of five. This allowed for heavy stripping.

History and availability

Development of the iPhone began in 2005 with Apple CEO Steve Jobs' direction that Apple engineers investigate touchscreens.[7] He also steered the original focus away from a tablet, like the iPad, and towards a phone.[8] Apple created the device during a secretive collaboration with AT&T Mobility—Cingular Wireless at the time—at an estimated development cost of US$150 million over thirty months.[9] Apple rejected the "design by committee" approach that had yielded the Motorola ROKR E1, a largely unsuccessful[10] collaboration with Motorola. Instead, Cingular gave Apple the liberty to develop the iPhone's hardware and software in-house[11][12] and even paid Apple a fraction of its monthly service revenue (until the iPhone 3G),[13] in exchange for four years of exclusive U.S. sales, until 2011. Jobs unveiled the iPhone to the public on January 9, 2007, at the Macworld 2007 convention at the Moscone Center in San Francisco. The iPhone went on sale in the United States on June 29, 2007, at 6:00 pm local time, while hundreds of customers lined up outside the stores nationwide.[14] The passionate reaction to the launch of the iPhone resulted in sections of the media christening it the 'Jesus phone'.[15][16] The original iPhone was made available in the UK, France, and Germany in November 2007, and Ireland and Austria in the spring of 2008. Worldwide iPhone availability: iPhone was available since its original release iPhone was available since the release of iPhone 3G Coming soon On July 11, 2008, Apple released the iPhone 3G in twenty-two countries, including the original six.[17] Apple released the iPhone 3G in upwards of eighty countries and territories.[18] Apple announced the iPhone 3GS on June 8, 2009, along with plans to release it later in June, July, and August, starting with the U.S., Canada and major European countries on June 19. Many would-be users objected to the iPhone's cost,[19] and 40% of users have household incomes over US$100,000.[20] In an attempt to gain a wider market, Apple retained the 8 GB iPhone 3G at a lower price. When Apple introduced the iPhone 4, the 3GS became the less expensive model. Apple reduced the price several times since the iPhone's release in 2007, at which time an 8 GB iPhone sold for $599. An iPhone 3GS with the same capacity now has no cost to the customer, as of the release of the iPhone 4S. However, these numbers are misleading, since all iPhone units sold through AT&T require a two-year contract costing several thousand dollars, including an early termination fee,[21] and a SIM lock. Apple sold 6.1 million original iPhone units over five quarters.[22] Recorded sales have been growing steadily thereafter, and by the end of fiscal year 2010, a total of 73.5 million iPhones were sold.[23] By 2010/2011, the iPhone had a market share of barely 4% of all cellphones, but Apple still pulls in more than 50% of the total profit that global cellphone sales generate.[24] Sales in Q4 2008 surpassed temporarily those of RIM's BlackBerry sales of 5.2 million units, which made Apple briefly the third largest mobile phone manufacturer by revenue, after Nokia and Samsung.[25] Approximately 6.4 million iPhones are active in the U.S. alone.[20] While iPhone sales constitute a significant portion of Apple's revenue, some of this income is deferred.[26] Three generations of iPhone, shown from behind. Left to right: original, white 3G, black 4. The back of the original iPhone was made of aluminum with a black plastic accent. The iPhone 3G and 3GS feature a full plastic back to increase the strength of the GSM signal.[27] The iPhone 3G was available in an 8 GB black model, or a black or white option for the 16 GB model. They both are now discontinued. The iPhone 3GS was available in both colors, regardless of storage capacity. The white model was discontinued in favor of a black 8 GB low-end model. The iPhone 4 has an aluminosilicate glass front and back with a stainless steel edge that serves as the antennas. It was at first available in black; the white version was announced, but not released until April 2011, 10 months later. The iPhone has garnered positive reviews from such critics as David Pogue[28] and Walter Mossberg.[29][30] The iPhone attracts users of all ages,[20] and, besides consumer use, the iPhone has also been adopted for business purposes.[31] Users of the iPhone 4 reported dropped/disconnected telephone calls when holding their phones in a certain way. This became known as antennagate. [32] On January 11, 2011, Verizon announced during a media event that it had reached an agreement with Apple and would begin selling a CDMA2000 iPhone 4. Verizon said it would be available for pre-order on February 3, with a release set for February 10.[33][34] In February 2011, the Verizon iPhone accounted for 4.5 percent of all iPhone ad impressions[vague] in the U.S. on Millennial Media's mobile ad network.[35] On March 2, 2011, at the iPad 2 event, Apple announced that they have sold 100 million iPhones worldwide.[36] On Tuesday, September 27, Apple sent invitations for a press event to be held October 4, 2011 at 10:00 am at the Cupertino Headquarters to announce details of the next generation iPhone, which turned out to be iPhone 4S. Over 1 million 4S models were sold in the first 24 hours after its release in October 2011.[37] Due to large volumes of the iPhone being manufactured and the its high selling price, Apple became the largest mobile handset vendor in the world by revenue, in 2011, surpassing long-time leader Nokia;[38] however, later that year, it was surpassed by Samsung, a major manufacturer of Android phones.[39] American carrier C Spire Wireless announced that it would be carrying the iPhone 4S on October 19, 2011.[5] In February 2012, ComScore reported that 12.4% of US mobile subscribers use an iPhone.[40] The iPhone 4S launch was also the biggest launch[41] for any smartphone in the history of mobile device market.

The iPhone

The iPhone ( /ˈaɪfoʊn/ eye-fohn) is a line of smartphones designed and marketed by Apple Inc. The first iPhone was unveiled by Steve Jobs, then CEO of Apple, on January 9, 2007,[1] and released on June 29, 2007. The 5th generation iPhone, the iPhone 4S, was announced on October 4, 2011, and released 10 days later. An iPhone can function as a video camera (video recording was not a standard feature until the iPhone 3GS was released), a camera phone, a portable media player, and an Internet client with email and web browsing capabilities, can send texts and receive visual voicemail, and has both Wi-Fi and 3G connectivity. The user interface is built around the device's multi-touch screen, including a virtual keyboard rather than a physical one. Third-party as well as Apple application software is available from the App Store, which launched in mid-2008 and now[when?] has over 500,000[2] "apps" approved by Apple. These apps have diverse functions, including games, reference, GPS navigation, social networking, security, and advertising for television shows, films, and celebrities. There are five generations of iPhone models, each accompanied by one of the five major releases of iOS (formerly iPhone OS). The original iPhone was a GSM phone, and established design precedents, such as screen size and button placement, that have persisted through all models. The iPhone 3G added 3G cellular network capabilities and A-GPS location. The iPhone 3GS added a compass, faster processor, and higher resolution camera, including video recording at 480p. The iPhone 4 has a rear-facing camera (720p video) and a front facing camera (at a lower resolution) for FaceTime video calling and for use in other apps like Skype. The iPhone 4 featured a higher-resolution 960 × 640 display; it was released on June 24, 2010. In the U.S., AT&T was the only authorized carrier until February 10, 2011, when a CDMA version of the iPhone 4 launched for Verizon. On October 4, 2011, Apple announced the iPhone 4S.[3] The iPhone 4S added a higher resolution camera (8 megapixel) with 1080p video recording, face detection, and video stabilization, a faster, dual core processor, support for both GSM/UMTS and CDMA on one chip, GLONASS support and a natural language voice control system called Siri.[4] It is available in 16 GB and 32 GB, as well as a new 64 GB capacity. In the United States, it was announced that two new carriers, Sprint and C Spire, would begin carrying the iPhone 4 and iPhone 4S in October and November 2011, respectively.[5] On April 20, 2012, 6 more regional US carriers (Cellcom, Appalachian Wireless, Alaska Communications, GCI, MTA Solutions, and nTelos) have been added in to the list of iPhone service providers.[6]