“Two pandering sensationalists are sinking to new lows in their bottom feeding efforts to vilify Steve Job: Ryan Tate of Gawker Media, the company that paid for stolen Apple merchandise [Gizmodo and the next-gen Apple iPhone], and Brett Arends of TheStreet, a fraud blog that regularly seeds misinformation to foment the market,” Daniel Eran Dilger writes for RoughlyDrafted. “It’s not surprising that Arends spun a ridiculous story suggesting Steve Jobs made ‘the dumbest trade ever’ and subsequently lost around $10 billion. His job at the Street was to make up absurdly moronic tales, as is the job of everyone who’s ever worked there: Troy Wolverton, Scott Moritz, and so on. What’s really idiotic is that his bit of ignorant ‘reporting’ was picked up and widely syndicated, making him neck and neck with Tate for the Troll of the Day award.”
MacDailyNews Take: Not only that, but it’s simply a lazy regurgitation of a story (please see: How Apple CEO Steve Jobs traded away over $2.5 billion – March 05, 2007) that only weak-minded losers like Brett Arends would stoop to recycling. The more Apple’s share price increases the bigger the “loss” that sad little losers like Brett Arends can try and fail to peg on Steve Jobs. Never mind that Steve Jobs has “lost” more money in his couch cushions than loser hack like Brett Arends could make in ten of his pathetic wasted lifetimes.
Dilger continues, “Nobody repeating the story seemed to remember that Jobs didn’t “trade” anything. He was forced to distance himself from options tainted by a somewhat overblown backdating scandal. Rather than being some foolish gamble or excessively safe play that left billions on the table, the reality was that Jobs rather shrewdly responded to shareholder outrage by giving up the tainted options and instead granting himself new options that were worth considerably less. The fact that Apple’s stock greatly appreciated in value after that was not independent from the fact that shareholders have grown confident in Jobs’ ability to run the company. Had he insisted on keeping options mired in scandal, Apple might have been sidetracked by the issue and distracted enough to perform poorly, meaning there may never have been $13 billion of appreciation on the shares Jobs had an option to buy.”
“Trying not to be overshadowed, Tate spun the sob story of a disabled woman who ‘saved from her fixed income’ to buy an iPad, only to find that Apple Retail has a credit card policy for iPad sales. This was spun as Apple ‘refusing a poor disabled woman’s business,’ as if women are some special class of pitied humans who, along with the disabled, are unable to obtain credit cards,” Dilger writes. “The reality is that Apple has an limited inventory of iPads, and so has set up a two item maximum per person. If it allowed cash sales, it would be rather easy to get around that, wouldn’t it?”
MacDailyNews Take: Tate, not to be outdone in the regurgitation department by loser Brett Arends, recycled his story, too. Please see: Apple’s reported no cash stance on iPhone sales is legal in U.S. – October 29, 2007.
Full article here.
MacDailyNews Take: Ryan Tate and Brent Arends: a sleaze bag and a loser; nothing more, couldn’t be any less.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]