Laurene Powell Jobs might never find a better time to sell her late husband Steve’s $6.78 billion stake in Apple and Walt Disney Co., according to wealth management experts who talked to Bloomberg News. Jobs’ heirs could sell all their shares now and avoid $867 million in capital gains taxes. If Steve Jobs left everything to his wife, the family wouldn’t be liable for the 35% estate tax until she dies or gives money to others. “I can’t see any reason not to sell all of it,” said Kacy Gott of wealth-management firm Aspiriant. Another reason advisers said Jobs’ heirs should sell some stock to reduce the estate’s risks is that the capital gains tax is set to rise to 20% percent in 2013 from 15%. High-income Americans will also be subject to a 3.8% levy on unearned gains.
Now that Sony Pictures is planning a movie based on the new authorized biography of Steve Jobs, attention has focused anew on the last film about the Apple icon. Actor Noah Wyle talks about playing Jobs in TNT’s 1999 made-for-TV movie Pirates of Silicon Valley that the cable channel is re-scheduling. …
EXCLUSIVE: I’ve just learned that Sony Pictures is making a hefty deal to acquire feature rights to Steve Jobs, the upcoming authorized biography by former CNN chairman and Time Magazine managing editor Walter Isaacson. I’m hearing the deal is $1 million against $3 million and that Mark Gordon will be the biopic’s producer. But this will be an MG360 project, which is the movie production partnership between Gordon and Management 360. ICM reps both Isaacson and Gordon. Sony Pictures would not comment. The studio seems a good fit for the book, having boiled business books into compelling dramas with both the Oscar-nominated The Social Network and Moneyball. The Isaacson book was supposed to be published on November 21st by Simon & Schuster, but now the release date has moved up to October 24th, according to a spokeswoman for the publisher. This was the hottest about-to-be biopic in Hollywood. [Will Hollywood Book Biopic Of Steve Jobs?] The 448-page profile is based on over 40 interviews with the Apple co-founder and over 100 conversations with friends, family members, colleagues and competitors. And it’s a compelling story: the building of the world’s most valuable technology company by creating the devices that changed how people use electronics and revolutionized the computer, music, and mobile phone industries. Jobs gave his full cooperation but had not read it as of mid-August. At first titled iSteve: the Book Of Jobs, Isaacson had second thoughts about what was appropriate for the first biography to get Jobs’ blessing and cooperation. Even when it wasn’t even finished, it made it (briefly) into the top 50 on Amazon’s bestseller list. Isaacson eventually persuaded his publisher Simon & Schuster to go with the simple title of Steve Jobs. First planned for 2012, the book’s release date was moved up.
UPDATE: Apple just wrapped up its press conference announcing the upgraded iPhone. Better hardware, new operating system, and available on Sprint as well as AT&T and Verizon — but not the revolutionary iPhone 5 that some predicted. Available Oct. 14, wireless subscribers will be able to score a 64 gig version of the iPhone 4S for $399, a 32 GB model for $299, and 16 GB for $199. But the price for the 8 GB iPhone 4 has been cut to $99 while the 3GS is free. The 4S will look a lot like previous iPhones but will have a dual core processor that handles graphics about seven times faster — good news for gamers. It will be a world phone, capable of handling wireless calls transmitted via GSM or CDMA technologies. The camera has been upgraded: 8 megapixels with more sensitive light processing and face detection. The company also talked up the speed; just a half-second lag between shots. It will handle 1080p high-definition video with image stabilization. Apple’s also excited about a new feature called Siri: It will answer verbal inquiries about, say, the weather, stock prices, and restaurant reviews — and handle tasks such as making appointments in your calendar. As expected, the company said that it will launch its iCloud service on Oct. 12. No talk about Facebook integration. Investors apparently expected more: The value of Apple shares declined during the presentation and are down about 4.7% about an hour before the end of the trading day.
PREVIOUS 2:10 AM: Super-secretive Apple e-mailed “Let’s Talk iPhone” invitations to a 10 AM PT media event at its headquarters in Cupertino this morning. But it’s the first major product unveiling that won’t be introduced by Steve Jobs. Instead, his successor Tim Cook is expected to present what may be the iPhone 5 and/or the iPhone 4S and/or Apple’s latest iOS mobile software — iOS 5. According to The AP, the latest iPhone will include wireless device setup and content syncing, a better 8-megapixel camera, as well as email and Web-browsing apps. But the new smartphone isn’t expected to look much different from the iPhone 4, though it could be thinner and have a bigger screen. Deadline’s sibling site BGR.com says some industry watchers had hoped for a brand new teardrop-shaped iPhone 5 with larger display, insanely thin design, and more. Now it’s looking like Apple might be set to introduce an upgraded iPhone 4 instead. Bummer, right? Not if Apple’s iPhone 4S is a pretty substantial bump as opposed to just an incremental update, as many are speculating. Some even think Apple is set to unveil about a dozen various iPhone models this week, ranging from a modest update on the cheap to a teardrop-shaped overhaul that will feature a 4-inch display and a unibody aluminum design.
The latest target for the pranksters from Comedy Central’s South Park: Apple CEO Steve Jobs. In a clip from the upcoming 15th season premiere of the politically incorrect animated series, Jobs is introducing a new revolutionary product. Let’s just say that the Apple research team won’t be taking notes….