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Although Apple shares were trading slightly lower Thursday, after falling 7 percent in after-hours trading on Wednesday, Steve Jobs' departure from his CEO role at the tech company will not materially affect the company, one analyst believes.
"I don't think this changes anything," Jason Maynard, analyst and managing director at Wells Fargo, told CNBC. "I don't think it's going to change product strategy. I don't think it's going to change how they allocate capital. I think Apple's going to keep being Apple, which is make amazing products."
Jobs resigned as CEO on Wednesday in a brief letterin which he named his successor, Tim Cook, who has stepped in as interim CEO numerous times while Jobs battled pancreatic cancer. Jobs will remain chairman of the tech giant's board.
Maynard compared Jobs' departure to the retirement of basketball superstar Michael Jordan. Although neither is replaceable, he said there is no reason why Apple cannot carry on its same vision with Jobs as chairman and the "world-class talent" that work at the company.
Maynard added that he is not surprised that there is a little bit of weakness in the stock's price after the announcement of Jobs' resignation, although he still thinks Apple is a buying opportunity.
"Most institutional investors have already thought about, considered, and, if you will, valued Apple assuming there is a post-Steve Jobs era," Maynard said.
Jobs' departure will not make it any easier for companies to compete with Apple, Maynard said.
Some of Apple's competitors include Google , Nokia and Hewlett-Packard.
WATCH: How will Apple competitors fare in the wake of Jobs resignation?
CNBC Data Pages:
CNBC Slideshows:
Disclosure information was not available for Jason Maynard or his company.

subset: commoncrawl


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What is your opinion about the different Greek New Testaments and translations? Do you think it is correct to use, for instance, Nestle Aland 27 instead of Textus Receptus for translation? Do you recommend the English Standard Version (ESV) or New American Standard (NAS) version above the King James version?
I've long had an interest in the debates about the correct Greek text of the New Testament. I remember, years ago, my many discussions with Dr. Edward F. Hills who is well-known for writing The King James Version Defended. He convinced me that there is much to be said for the majority Greek text (which is not quite identical with the so-called textus receptus) used by the 16th century reformers. But after some sixty years working with the Greek text of the New Testament as a pastor, I came more and more to the conclusion that B. B. Warfield (the famous Princeton theologian of a previous generation) was right. We should not spend too much time and energy worrying about the extremely small amount of the Greek text of the New Testament that is debatable because the overwhelming majority of the text is certain. I've never yet found anything in the realm of textual problems that casts even the slightest doubt on the great doctrines of our faith.
As for versions, I am in complete agreement with the decision of Great Commission Publications (which is jointly owned and operated by the OPC and the PCA) in choosing the ESV as the preferred version. No version is perfect, as our own Westminster Confession of Faith (1:8) makes clear. That is why our pastors are required to know enough Greek and Hebrew to go behind the translation to the original. But, as that same Confession of Faith rightly says (in that same section), the original text needs to be "translated into the vulgar language of every nation unto which they come." And here the word "vulgar" means simply the language that the people use and understand. And there is nothing better, in the English language, in my opinion, than the ESV.
Thanks for your excellent question.
"Questions and Answers" is a weekly feature of the OPC website. The answers come from individual ministers in the Orthodox Presbyterian Church expressing their own convictions and do not necessarily represent an "official" position of the Church, especially in areas where the Standards of the Church (the Scriptures and the Westminster Confession of Faith and Catechisms) are silent.
The questions come from individuals like yourself. If you have questions about biblical and theological matters, you are invited to send them by e-mail by using the "Pose a Question" link on the OPC home page or by clicking here.
At least one new question is posted each week, so there should always be something new here for you to read. (For those people who would like to look at previous questions and answers, they will continue to be available as well.)
The purpose of the OPC website's "Questions and Answers" is to respond to biblical and theological questions. Matters of church discipline, disputes, or debates go beyond the scope of our work. We recommend that you present your concerns in these areas to the appropriate judicatory. In most cases this will be to a local pastor, elder, or session. We do not want the website to replace personal involvement in, or commitment to, the local, visible church.
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Chaplains and Military Personnel


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Organized by: Julie Sutsko
This frigid trip to the Adirondacks took place during the 2007 Thanksgiving break. The Adirondacks were covered with snow during the group's adventure and while was mostly sunny the temperatures were not above freezing. The first night the group spent in the wild the temperature plummeted to below zero causing various butts to be frozen. Other misadventures included: frozen boots, salami water, eating snow, wild snow leopards loose from the Adirondack zoo, sketchy lake crossings, the Loj, too many Clif Bars, frozen food (all of it), crossing Marcy Dam, one group climbing Mt. Algonquin, and of course the penis cards(?). Despite the seemingly horrible conditions the group had a blast of a trip. If any groups are wanting to revisit the area they should plan to avoid the cold season but if you do go in the cold seasons, be prepared. Gaiters, insulated waterproof boots, and adequate sleeping gear are all MUSTS. Fun was had by all, and no one died.
Members in Attendance:
- Julie Sutsko
- Lauren Reed
- Johnson Martin
- Kaitlin Pope
- Nick Clabbers
- Zack Haas
- Brian Sabri
- Amanda Morrow
- Brian Newman
- Brooke Osborne
- James Basham


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The Tri-state Oversight Committee (TOC) is the State Safety Oversight (SSO) agency for the Washington Metropolitan Area Transit Authority (WMATA) Metrorail system.
Under Federal Transit Administration (FTA, an agency within the USDOT) regulation 49 CFR Part 659, which went into effect in 1997, all states with a defined rail transit system that is not under the jurisdiction of the Federal Railroad Administration (FRA) must develop and maintain a SSO agency. In general, almost all heavy rail rapid transit system such as WMATA, the New York City Subway system and other large city subway and light rail systems are outside of the jurisdiction of the FRA and as such come under the jurisdiction of the SSO, if they are funded by the FTA.
Under the regulation, each state is responsible for designating an agency to carry out the SSO requirements. The states have latitude to determine which entity can conduct the oversight, as long as it is not the transit agency itself. At a minimum, the regulation requires that the SSO agencies do the following: develop a program standard for the transit system's safety and security plans; approve these plans; investigate accidents and hazardous conditions which meet certain criteria prescribed in 49 CFR Part 659; require the transit system to develop corrective action plans to address safety deficiencies; approve the corrective action plans; and conduct independent reviews of the implementation of the safety and security plans on at least a triennial basis. The SSO agencies can also conduct other activities as they deem appropriate based upon state specific requirements. If the FTA determines that a state is in non-compliance with the SSO requirements, it can withhold up to five percent of the grant funds to that state transportation/rail system.
Unlike the FRA or FAA, however, SSOs have no authority under 49 CFR part 659 or by any other FTA regulations to enforce their findings with fines, civil actions or other penalties. Any such authority must come from state legislatures. The FTA intended the SSO program to function as a "cooperative" effort with the transit agencies and as such it was not designed to operate under the traditional regulatory framework of fines and penalties.
In Washington DC, the TOC's SSO program is a joint effort of the DC Department of Transportation, the Maryland Department of Transportation and the Virginia Department of Rail & Public Transportation. This arrangement was based upon the fact that WMATA's rail system operates in the three jurisdictions and it would be inefficient to have three distinct SSO agencies. Each agency designates two members as well as alternate members if needed, and the Chair of the TOC rotates annually between jurisdictions. DC currently holds the Chair, with Virginia holding the Vice Chair. The TOC was organized in 1997 and its membership has included fire chiefs, emergency managers, transportation planners and transit specialists. In addition, the TOC retains specialized technical skills from an experienced on-call consultant.
To provide safety oversight of the Metrorail system.
Program at a Glance
Program Title: Tri-state Oversight Committee (TOC) - State Safety Oversight (SSO)
Agency: District Department of Transportation
Office: Progressive Transportation Services Administration (PTSA)
Type: Planning and Strategy


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DOUGLAS COUNTY PUBLIC WORKS DEPARTMENT consists of six divisions: Administration, Administrative Services, Engineering and Construction, Natural Resources, Operations and Maintenance, and Work Crew. Administration provides direction and support to all divisions. The Administrative Services Division is a centralized cost accounting and budgeting division that is responsible for accounts payable/receivable, personnel/time records, and special waste permits. The Engineering and Construction Division is responsible for design of all road and bridge projects within the County, construction contract administration, asset management, and right of way services. The Natural Resources Division is responsible for all water projects and water resources management within the County, including operation of the Galesville and Berry Creek dams. The Operations and Maintenance Division is responsible for operating and maintaining the County road system, the County landfill, and 11 solid waste transfer stations. This includes road maintenance, signing, striping, vegetation control, solid waste operations, recycling, and the Adopt-A-Highway program. The Work Crew Division is responsible for parole and probation work crew operations and solid waste transfer station attendants.
Responsible for:
- Approximately 1,200 miles of County-Maintained Roadway
- 299 County-Maintained Highway Bridges
- Galesville and Berry Creek Dams
- County Landfill and 11 Transfer Stations


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HARRISBURG - Despite pessimistic projections that a tax swap will not cover the $13 billion annual cost of public education in Pennsylvania, at least one lawmaker says the battle to eliminate school property taxes is far from over.
Rep. Tom Quigley, R-146th Dist., who chairs the House Select Committee on Property Tax Reform, said he still believes there are alternatives to fund public education in Pennsylvania other than school property taxes.
Quigley spoke after a joint hearing of his committee and the House and Senate finance committees, which are reviewing legislation that would swap the school property tax with a higher and expanded sales tax and an increase in the personal income tax.
An analysis from the Legislature's Independent Fiscal Office found that the proposed swap would leave a shortfall of $1.51 billion in fiscal year 2013-14, growing to $2.02 billion in fiscal year 2017-18.
'While this is a setback, it is not the end of the property tax elimination movement,' Quigley said. 'Proponents will continue to update the legislation until the numbers add up. The reports presented (Monday) exhibit how more work needs to be done on these proposals to ensure they are fiscally sound.'
Eliminating school property taxes in Pennsylvania means some will win, others will lose.
The winners are retired homeowners, who could see a 37-percent decrease in their tax liability, according to the latest analysis of the most visible proposal on the table.
The losers are working renters, who could see a nearly 11-percent increase in tax spending.
The tax reform proposal spelled out in House Bill 1776 and Senate Bill 1400 aims to swap about $13 billion in school property taxes annually with increases in sales tax, an expanded sales tax base and an increase in personal income taxes.
The latest figures, from a much-anticipated analysis by the state Legislature's Independent Fiscal Office, show a windfall gain for homeowners but inconclusive results for the rest.
Some two-dozen lawmakers heard the analysis Monday morning at a joint meeting of the House and Senate finance committees and the Select Committee on Property Tax Reform.
The tax swap could save homeowners thousands of dollars each year, while renters would pay more initially until landlords pass savings down to them.
Matt Knittel, director of the IFO, said it could take several years to realize any rent savings, noting that leases take time to expire. Beyond that, the proposed increases in sales and personal income taxes would be greater than the potential reduction in rent.
Another effect: Residents who use property tax as a deduction on their federal income tax filings would no longer be eligible. Statewide, federal income taxes would increase by $550 million annually without school property tax deductions, Knittel said.
Rep. Jim Cox, R-Berks, who is the primary sponsor of HB 1776, said renters would see benefits in other realms. Some may be able to buy a house, affording a monthly mortgage minus the property tax bill, he said, while other landlords would have extra capital to spruce up properties.
The IFO analysis showed the tax swap would create a $1.5 billion shortfall to school districts in the first year. Cox said the predicted shortfall isn't 'a death knell' for the bill, and he would suggest an increase in the personal income tax rate to close the gap.
As written, House Bill 1776 would raise the PIT from 3.01 percent to 4.07 percent, but Cox said a rate of about 4.4 percent would fill the gap. He said he plans to file that amendment and is working with House leadership so the bill is addressed.
Though only several session days remain, Cox said he's determined to get the proposal out for a floor vote – his proposal stalled in the House Finance Committee earlier this summer after lawmakers expressed uncertainty about the revenue numbers.
Cox said lawmakers and state officials can figure out the numbers, but it comes down to one question, he said.
'Do you want to replace property taxes with a broader sales tax a little bit higher with a higher PIT of about 4.4 percent?' Cox said. 'Give us the answer to our question and we'll go away, but for now people haven't had the opportunity see their reps or senators vote on this.'
In the likely event no action is taken this session, the issue could be pushed to the next crop of legislators come January.
The Select Committee on Property Tax Reform will draft a report on recommended legislation for property tax reform by Nov. 30.
Quigley said he envisions recommending a multitude of options for tax reform, whether that's a statewide change or enabling local reform. He said potential changes to the school funding formula could complement any property tax reform.
But the IFO analysis gives a blueprint for those changes, Quigley said. He said he believes relying on sales tax instead of property taxes for school funding is a fair distribution, as it comes down to consumption.
Families with children in schools are out there spending the most, he said, whereas the retired homeowners who would save the most money could decide how much to spend on consumer goods.
'The senior citizens, that's who you hear the most from,' Quigley said, 'someone who owns a home being taxed out of a home because they can't keep up with those tax payments.'
Quigley also noted lawmakers also spoke with Jason Horowitz, a consultant with the Anderson Economic Group, which was commissioned to study the property tax elimination plans by the Pennsylvania Association of Realtors.
Horowitz relayed a projected shortfall of more than $750 million to school districts if House Bill 1776 or Senate Bill 1400 were implemented. That's significantly lower than the shortfall projected by the IFO.


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26 February, 2013 | (01 hr)
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Have you ever been led by someone who cared about you, and dared you to achieve more than you ever thought possible for yourself, your team and your organization?
Join us for this webcast as the author, George Kohlrieser, gives us unique insight into his new book: 'Care to Dare'. His latest work explains how becoming a secure base leader releases extraordinary potential in others and frees them from the fears that hold them back. From extensive interviews with executives from all over the world, as well as from surveys with more than a thousand executives, the book reveals the nine characteristics that Secure Base Leaders display on a daily basis. The research shows that a primary difference between a successful leader and a failed leader is the presence or absence of secure bases in his or her life.
Explaining the thinking behind secure bases and its roots in attachment theory, the book refers to the need for a person to have both people and goals as secure bases to ensure a healthy approach to life. Part of the Warren Bennis leadership series, Care to Dare will take you on a journey where you will discover your own secure bases, past and present, and determine how you can be a secure base for other people in your life at work and at home.
The message for leaders is that by valuing both relationships and results, by caring enough to dare, you, your teams and your organization can Play to Win.
George Kohlrieser
George Kohlrieser is an organizational and clinical psychologist. He is Professor of Leadership and Organizational Behaviour at IMD and consultant to several global companies including Accenture, Alcan, Amer Sports, Barclays Global Investors, Cisco, Coca-Cola, HP, IBM, IFC, Morgan Stanley, Motoro...Full Bio
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Highly skilled strategic commercial and business development director with over 20 years of experience leading worldwide sales and business management programs for global companies. Pierre has taken a pivotal role in driving business success as the pioneer behind development and launch of i...Full Bio


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Easter basket tiff blamed as woman stabbed in face
An argument over Easter baskets early Sunday escalated when a man stabbed a woman in the face, head, chest and back, police said.
Police were summoned to a mobile home in the 7600 block of U.S. 90 West about 2:40 a.m. by a caller who said they heard a woman screaming for help.
A responding officer found Virginia Preciado, 43, lying in a pool of blood next to a knife with a broken blade.
She said she'd been arguing over Easter baskets with Felix Villarreal, 44, an incident report says.
Villarreal, who answered the door when police arrived, was arrested at the scene.
The officer said Preciado was crying and having difficulty breathing, according to the report. She was scared she was going to die and begged the officer not to let Villarreal back into the room because "he's crazy," the report says.
Villarreal apparently didn't call to get help for Preciado, who was taken to University Hospital with serious injuries. Officers placed an emergency protective order on her behalf.
Hospital staff said she remained in critical condition Monday morning.
Villarreal was charged with attempted murder, a second-degree felony. Bail was set at $75,000.
Police wouldn't comment on the pair's relationship.
Hollie O'Connor contributed to this report. email@example.com
Hollie O'Connor contributed to this report.


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Wright Op-Ed Featured on Bloomberg, Huffington Post
An op-ed that explores the early influence of the U.S. banking industry by Dr. Robert Wright, Nef Family Chair of Political Economy and director of the Thomas Willing Institute at Augustana College, and Richard Sylla is featured in "Echoes," the business history blog of Bloomberg's Views, and on the business section of The Huffington Post.
'Fortune 500' of 1812 Shows U.S. Banks' Early Influence
Fortune magazine began publishing annual rankings of U.S. corporations by revenue in 1955. Ever since, scholars and forecasters have analyzed changes in the Fortune 500 to help inform their judgments about industry concentration and the relative importance of different sectors of the economy.
Historians would love to have snapshots of the nation's largest corporations at earlier dates. Unfortunately data are scarce, especially before the Civil War. Based on our research, however, it is now possible to create a sort of historical "Fortune 500" ranked by corporate capitalization — the total sum stockholders were supposed to pay for their shares.
Conveniently for us, states regulated corporate equity capital, sometimes by specifying a precise amount of capital but other times indicating an acceptable range. They usually published the figure or range as part of the laws that incorporated each company. We have compiled that data here to provide a snapshot of the U.S. economy in 1812.
Finance Dominates
Banks and insurance companies dominate the list, reflecting the financial revolution launched two decades earlier by Alexander Hamilton and the Federalists. In 1812, all of the top five companies, and nine of the top 10, were banks. John Jacob Astor's American Fur Co., coming in at No. 9, completed the top 10. The finance sector made up 44 percent of the 500 largest corporations and 72 percent of all the authorized capital that year.
In transportation, most non-trivial bridges, canals and long-distance roads were then privately owned corporations. Usually they weren't extensive affairs, thus explaining their conspicuous presence in the bottom part of the rankings. The transportation sector comprised 32 percent of the companies, but only 14 percent of the capital.
Manufacturing, often thought to be a later development in the U.S., actually had a strong presence in 1812. Manufacturers accounted for 20 percent of the 500 largest companies. But like transportation, manufacturing's share of corporate capital was far lower, only 11 percent; large-scale manufacturing was still in America's future.
The biggest American corporation in 1812 was the Bank of the United States, chartered by Congress in 1791. Ironically, Congress refused to renew the bank's charter in 1811, so in 1812 it was in the process of being liquidated. In 1816, Congress would charter an even larger central bank, which would meet the same fate in the 1830s at the hands of President Andrew Jackson.
Two other banks in the top 10 are still with us. The City Bank of New York (No. 5), founded in 1812, is today's Citigroup Inc. (C), observing its 200th anniversary this year. And the Manhattan Co. (No. 8), more recently known as Chase Manhattan, survives as part of JPMorgan Chase & Co. (JPM) Bank of New York (No. 37) is also still around, with Mellon added to its name.
Economic activity at the time was still heavily concentrated in the Northeast. New York, Massachusetts and Pennsylvania had chartered the most corporations in our 500. Together they account for 63 percent of the companies and 56 percent of corporate capital.
A few caveats call for attention. Although some of the companies in the list, such as Bank of New York, exist in substantially the same form today, others, such as Bank of America (No. 2), aren't related to extant businesses other than in name. Some surviving companies have long since lost their original identities in mergers; for example, Bank of North America (No. 36), the DNA of which is now a part of Wells Fargo & Co. (WFC) The fate of many smaller companies in the list, particularly the turnpikes, is unknown; in many cases, their facilities eventually became part of the public-road network.
Corporation Nation
The larger significance of being able to come up with a Fortune 500 for 1812 demands some reflection. The country's population then was about 7.5 million, less than that of New York City today, and far less than the populations of leading European nations. Yet international comparisons, to the extent we can make them, indicate that the U.S. already had more business corporations than any other country, and possibly more than all other countries put together.
France had chartered 13 corporations by 1812, and Prussia had chartered eight. An old source indicates that England had only 156 joint-stock companies before 1824, and so the entire U.K. probably had no more than 200 to 300. In contrast, our U.S. data show more than a thousand charters by 1812.
The U.S. was the world's first "corporation nation," and the ease of incorporating businesses released a lot of entrepreneurial energy that helped to build an ever-expanding economy. By the end of the 19th century, the U.S. would be the world's largest national economy with tens of thousands of corporations.
Americans continue to have mixed feelings about corporations, just as they did in 1812 and throughout our history. But there's no denying that the corporation played a large role in making Americans who they were — and are.
(Richard Sylla is Henry Kaufman Professor of the History of Financial Institutions and Markets and a professor of economics at New York University. Robert E. Wright is the Nef Family Chair of Political Economy at Augustana College in South Dakota. The opinions expressed are their own.)