Steve Jobs RIP?

An obituary for Apple Inc. CEO Steve Jobs was mistakenly published by Bloomberg News on Thursday, according to several reports.
The stock story detailing the death of the Cupertino, Calif.-based Apple (NASDAQ: AAPL) founder, who is still alive, appeared “momentarily” after a reporter had updated it, Bloomberg said. The incomplete obit was distinctly marked “Hold for release — Do not use,” the reports said
Following is the opening paragraph as it appeared on the Bloomberg wire:
“Steve Jobs, who helped make personal computers as easy to use as telephones, changed the way animated films are made, persuaded consumers to tune into digital music and refashioned the mobile phone, has XXXX. He was TK. Jobs XXXX, TK said XXXXX.”
Bloomberg, which was founded by New York Mayor Michael Bloomberg and prides itself on its accuracy and transparency, later published a note acknowledging the story's retraction on its wire.
“An incomplete story referencing Apple Inc. was inadvertently published by Bloomberg News at 4:27 p.m. New York time today,” the message read. “The item was never meant for publication and has been retracted.”

Firms Pay More for Outside CEOs

Chief executives hired outside a company are paid significantly more than chief executives hired in-house, according to a new study.

CEOs hired externally at Standard & Poor's 500 companies, for example, received a median total compensation package of roughly $12.2 million in 2007, or 51 percent more than CEOs with at least two years of tenure, who recorded a median pay of approximately $8 million, according to a study by Equilar, an executive compensation research firm based in Redwood Shores, Calif.

Internally promoted CEOs made less than both groups, earning a median pay package of roughly $6.9 million.

Motorola has tapped former-Qualcomm COO Sanjay Jha as CEO

"Motorola has tapped former-Qualcomm COO Sanjay Jha to run its Mobile Devices business, which has suffered six straight quarters of slumping sales.
The move comes less than five months after Motorola said it would split into two separate companies fueled by increasingly poor performance by its Mobile Devices business.
According to the Schaumberg, Ill.-based communications vendor, the board of directors on Monday named Jha as co-CEO of Motorola and CEO of its Mobile Devices Business, effective immediately.
In his new role, Jha will oversee all aspects of Motorola's Mobile Devices business, which accounts for about 41 percent of Motorola's overall revenue, and report to the board.
Greg Brown, CEO of Motorola since January, will also serve as co-CEO and has been named CEO of Motorola's Broadband Mobility Solutions business, which consists of Home and Networks Mobility and Enterprise Mobility Solutions. Motorola said that Brown and Jha will share responsibility as Motorola transitions from one company to two independent, publicly traded entities. "

Mover:Dow Kim - Diamond LakeInvestment Group LP

Dow Kim, the former head of tradingand investment banking at Merrill Lynch & Co., abandoned plans to start a hedge fund after investors backed out, according totwo people with knowledge of the matter. Kim had been in discussions with institutions that hadagreed to invest about $1 billion combined in his Diamond LakeInvestment Group LP, said the people, who asked not to beidentified because the talks were private. The New York-basedfirm had hired 30 people based on the commitments. The evaporation of credit and declines surpassing20 percent in some stock markets caused the initial investors tochange their minds, said the people. Kim had planned amultistrategy hedge fund that would trade everything fromequities to bonds to currencies. New money coming into hedge fund slowed to $29 billion inthe first half of the year, compared with $118 billion in thesame period last year, according to Chicago-based Hedge FundResearch Inc. Kim, 45, declined to comment. He was the second-highest-paid executive at New York-based Merrill in 2006, when he made$37 million. He left in May 2007 after 13 years at the third-biggest U.S. securities firm. Diamond Lake hires included David Milch, former head ofprime-brokerage services at Merrill Lynch, as chief operatingofficer; Karl Wachter, former general counsel at AmaranthAdvisors LLC, as general counsel; and Bernd Wuebben, former headof fixed income trading strategies at Bear Stearns.