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In a bit of news that managed to be both shocking and expected at the same time -- we've all been waiting for this day, it had to come eventually -- Steve Jobs resigned from his post as the CEO of Apple in a letter to his company's board of directors. His note, brief but moving, reminded Apple watchers that, among his many talents, Jobs can write. CUPERTINO, Calif.-August 24, 2011-To the Apple Board of Directors and the Apple Community: I have always said 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. Unfortunately, that day has come. I hereby resign as CEO of Apple. air yeezy 2011 I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee. As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple. 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. I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you. Israel's largest bank Leumi said on Wednesday it had reached a settlement with the trustees of Lehman Brothers in a suit in which Leumi was seeking to recoup $100 million from the failed investment bank. Following its collapse in 2008, Lehman owed Leumi $100 million and the Bank of Israel filed a claim in U.S. Bankruptcy Court in Manhattan to recoup the funds. Lehman countersued but the two sides have now reached a settlement and Leumi has received 210 million shekel ($58 million) from the sale of the Leumi-owned securities which Lehman had been holding. Leumi filed the claim in 2009 in the case In Re: Lehman Brothers Holding Inc et al, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555. Brian Trust of Mayer Brown was listed on the claim for Leumi.
