BANZAI7 NEWS--Apple Inc.'s (AAPL) limited disclosures of Chief Executive Steve Jobs' health issues have stirred controversy among corporate governance experts and other financial market observers. One constituency that doesn't seem overly concerned: Apple shareholders.
Shares of the consumer electronics giant have fallen less than a 10th of a percent since The Wall Street Journal reported last week that Jobs, on a six-month medical leave from his duties at the company, received a liver transplant two months ago. On Wednesday, shares rose 1.7% to $136.22.
Portfolio managers say the reason for the stock market's shrug-off is simple. Since Jobs went on medical leave in January, Cupertino, Calif.-based Apple has delivered strong earnings and rolled out a slew of hit products. Last week, the company launched the latest generation of its iPhone smartphone, the iPhone 3GS, selling roughly one million units - double the expectations - over the weekend.
Corporate governance experts and financial market observers question whether Apple has shared enough information about its co-founder's condition.
WB7: Perhaps the so called governance experts should spend more of their precious time worrying about real problems such as how an old coot like Hank Greenberg could be allowed to build an FWMD battleship too big for his feckless proteges to pilot after he was unceremoniously forced to walk the plank.
Governance experts should be haranguing the former members of AIG's board instead of wondering how Apple can be such a well run company, that continues to run well when the boss takes time off to have a liver transplant.
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