Inevitable, alas

Rico says that Nick Bilton has the regrettable story in The New York Times about the resignation (again) of Steve Jobs:

Apple announced late on Wednesday that Steven P. Jobs, its co-founder and chief executive, would step down. Tim Cook, the chief operating officer, will take over the position. In a letter sent to Apple’s board of directors and “the Apple community,” Jobs said he would like to remain as chairman of the board and an Apple employee, if the board sees fit. “I have always said that, if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know,” Jobs wrote. “Unfortunately, that day has come.” Though he has appeared at some Apple events, Jobs has officially been on a medical leave of absence since late January, a year and a half after his return following a liver transplant. “I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role,” Jobs said in the letter.

Rico says that not retaining him as chairman would be idiocy, and drive Apple's stock down even more... (And notice, no fools they, that Apple reported this after the markets closed.)