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    Tech Giant

    A great American loss: Apple visionary Steve Jobs dies at age 56

    Chris Baldwin
    Oct 5, 2011 | 7:05 pm
    • Steve Jobs
      Photo via International Business Times
    • The front page of the Apple.com website

    Apple visionary Steve Jobs died on Wednesday at the age of 56. The man who changed the world of computers and spearheaded innovations like the iPhone and iPad was battling pancreatic cancer and only resigned from Apple on Aug. 24.

    Jobs co-founded Apple in 1976. And his influence would extend even beyond computers to revolutionizing the worlds of music and movies.

    Jeffrey Katzenberg, chairman and CEO of DreamWorks, calls Jobs as "the Thomas Edison of our time. And in the way that Edison affected so many businesses, so did Steve Jobs."

    Jobs has been battling cancer for eight years, but the suddenness of his death — coming less than two months after he stepped down — has shocked many.

    Jobs has been battling cancer for eight years, but the suddenness of his death — coming less than two months after he stepped down — has shocked many and made the impact even greater. Jobs' story is in many ways an all-American success tale. He dropped out of college, but ended up being regarded as "The Father of the Computer Revolution" by age 29.

    But his comeback, returning to save Apple after being forced out of the company and bringing it to its current wow-factor heights may have been an even greater accomplishment.

    Jobs was anything but a mild-mannered computer nerd. Even his competitors cited his charisma and he was known for often ignoring the advice of others and following his instincts, building a reputation as being much more of a dictator leader than some new-age consensus builder. Jobs also turned product unveilings into Internet shows, commanding the stage in his distinctive black turtlenecks and jeans.

    "We are deeply saddened to announce that Steve Jobs passed away today," Apple's board of directors said in a statement. "Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve. His greatest love was for his wife, Laurene, and his family. Our hearts go out to them and to all who were touched by his extraordinary gifts."

    Soon the tributes would come rolling in at the speed of the technology Jobs helped create.

    "I’m truly saddened to learn of Steve Jobs’ death," Microsoft co-founder Bill Gates said in a statement. "Melinda and I extend our sincere condolences to his family and friends, and to everyone Steve has touched through his work. Steve and I first met nearly 30 years ago, and have been colleagues, competitors and friends over the course of more than half our lives.

    "The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come.

    For those of us lucky enough to get to work with him, it’s been an insanely great honor. I will miss Steve immensely."

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    news/innovation
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    big business

    Houston food giant Sysco will acquire Restaurant Depot for $29 billion

    Associated Press
    Mar 31, 2026 | 9:00 am
    Sysco Headquarters In Houston
    Photo by Brandon Bell/Getty Images
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    Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

    The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

    Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

    Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

    It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

    Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

    Restaurant Depot was founded in Brooklyn in 1976. The family run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

    The boards of both companies have approved the acquisition, but it would still need regulatory approval.

    Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

    news/innovation

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