Don Cornelius Confirmed Dead In An Apparent Suicide

 

Don Cornelius -- who famously created "Soul Train" was found dead in his Sherman Oaks, CA home this morning ... and law enforcement sources tell us it appears he committed suicide.

We're told cops discovered the body at around 4 AM PT.  Law enforcement sources tell us ... Cornelius died from a gunshot wound to the head and officials believe the wound was self-inflicted.

We're told Cornelius was taken to the hospital where he was pronounced dead.

"Soul Train" changed the landscape of television when it debuted in 1971 and ran until 2006.



Officials have notified Don's family.

Cornelius was 75.

During Don's bitter divorce proceedings in 2009, he told an L.A. judge he was suffering from "significant health issues" and wanted to "finalize this divorce before I die."

Cornelius was arrested in 2008 for beating up his wife.  He pled no contest to misdemeanor domestic violence and was placed on 3 years probation.  His probation just terminated.

The divorce was granted in 2010.

Sources close to Don tell us ... the TV icon was plagued with health issues for years ... including a stroke and a condition that required brain surgery.

Story developing...

 

Credit : TMZ

Steve Jobs resigns as CEO of Apple

In a shocking development out of Cupertino, Apple CEO Steve Jobs has stepped down, the board naming Tim Cook as his replacement. The company said "Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company."

Steve himself published the following letter:

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. 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.

Steve

Apple has confirmed that Jobs will stay on as Chairman.

 

Press Release

Steve Jobs Resigns as CEO of Apple

Tim Cook Named CEO and Jobs Elected Chairman of the Board

CUPERTINO, Calif.--(BUSINESS WIRE)--Apple's Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple's Chief Operating Officer, as the company's new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

"Steve has made countless contributions to Apple's success, and he has attracted and inspired Apple's immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration."
"Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company," said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. "Steve has made countless contributions to Apple's success, and he has attracted and inspired Apple's immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration."

"The Board has complete confidence that Tim is the right person to be our next CEO," added Levinson. "Tim's 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does."

Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.

As COO, Cook was previously responsible for all of the company's worldwide sales and operations, including end-to-end management of Apple's supply chain, sales activities, and service and support in all markets and countries. He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.

Breaking News!! Macho Man Randy Savage Dies In Car Accident

Macho Man Randy Savage -- one of the greatest wrestlers of all-time -- died today in a car accident in Tampa, Florida ...



TMZ spoke with Randy's brother, Lanny Poffo, who tells us the wrestling legend suffered a heart attack while he was behind the wheel around 9:25 AM ... and lost control of his vehicle.

Earlier this month, Savage celebrated his 1-year anniversary with his new wife Lynn.

Savage was 58.

Macho Man began wrestling in the WWF in 1985 and became a superstar with his trademark catchphrase "Ooooooh Yeaahhhhh."

UPDATE: Florida Highway Patrol - Savage was driving his 2009 Jeep Wrangler when he veered across a concrete median ... through oncoming traffic ... and "collided head-on with a tree."

Savage was transported to Largo Medical center, where he died from his injuries.

Savage's wife was a passenger in the vehicle during the collision -- but survived with "minor injuries." She was transported to a different local hospital where she was treated. 



According to officials, Randy and Lynn were both wearing their seatbelts at the time of the accident.

Cops say alcohol was NOT a factor. 

An investigation into the accident is underway. 

 

Credit : TMZ

Update : Sony, Subaru, and Toyota close factories in wake of earthquake, other companies check in

Our thoughts this morning are with the folks in Japan and the other Pacific areas affected by the massive 8.9 earthquake that struck about 230 miles East of Tokyo. Reports of damage are flooding in from the country, and indeed many familiar manufacturers are checking in. Sony and Toyota have both stopped operations in their factories due to damage. Tragically, one Honda worker lost his life after a wall collapsed, while several Panasonic workers are said to have suffered minor injuries. It remains to be seen exactly what impacts this will have on consumers, but Sony's closed factories were responsible for the production of Blu-ray discs and batteries, while the numerous automotive shutdowns could result in short-term shortages. This bad news sent stocks downward, with German share prices for Sony dropping 2.5 percent and Honda 4.5 percent. We're still watching with concern to see what other impacts the resultant tsunamis could have, but for now we'll keep hoping for the best.

Breaking News!! Larry Brown Steps Down as Head Coach of Charlotte Bobcats

Letter from Bobcats Chairman Michael Jordan to fans (PDF)

Charlotte Bobcats Chairman and CEO Michael Jordan announced today that Larry Brown is stepping down as head coach of the team, effective immediately.

"I met with Coach Brown two weeks ago about the team’s performance and what we could do to improve it. We met again this morning after practice. The team has clearly not lived up to either of our expectations and we both agreed that a change was necessary," Jordan said.

"This was a difficult decision for both of us, but one that needed to be made. I want to thank Larry for everything he has done for our team. He has played a key role in this organization’s development, including coaching us to our first playoff appearance last season. Larry will continue to be a valuable advisor to me regarding the team. The search for a successor will begin immediately."

Brown was named the third head coach in team history on April 29, 2008, and compiled a record of 88-104 (.458) in two-plus seasons with the Bobcats.

Breaking News!! Senate Passes Controversial Tax Cut Deal

Washington (CNN) -- The Senate approved a controversial $858 billion tax cut package Wednesday, overwhelmingly voting to extend the Bush-era tax reductions despite a series of objections from both the left and the right.

The measure, which passed 81-19, now advances to the House of Representatives.

The House will take up the bill Thursday, according to Majority Leader Steny Hoyer, D-Maryland.

The package includes a two-year extension of the Bush-era tax cuts set to expire December 31. It also would extend unemployment benefits for 13 months, cut the payroll tax by 2 percentage points for a year, restore the estate tax at a lower level and continue a series of other tax breaks.

The estate tax -- currently scheduled to exempt inheritances up to $1 million and tax amounts above that at a rate of 55% -- would be reduced under the tax package to a rate of 35% on amounts above a $5 million individual exemption.

New bill has billions in new earmarks

The estate tax impact

Obama makes case for tax plan

The vote came hours after President Barack Obama urged lawmakers Wednesday to approve the deal, which the White House negotiated with Senate GOP leaders.

"I am absolutely convinced that this tax cut plan, while not perfect, will help our economy and create jobs in the private sector," Obama said. "It will help lift up middle-class families who will no longer have to worry about a New Year's Day tax hike."

House Democrats, however, have repeatedly warned that they may change the measure, particularly provisions dealing with the estate tax.

Conservatives argue that a full return of the estate tax would, among other things, make it nearly impossible for many family-owned small businesses to be passed down from one generation to the next. Liberals contend that a lower or nonexistent estate tax would merely benefit the wealthy while doing little to aid the economy.

A number of House Democrats want to change the estate tax to levels previously approved in a separate House bill that would exempt inheritances up to $3.5 million and tax amounts above that at a 45% rate.

However, more than two dozen moderate House Democrats submitted a letter to their House leadership Tuesday, calling for the tax package to be passed unchanged so it can go directly to Obama to be signed into law.

"This bipartisan compromise is by design a temporary measure and, with its passage, we must acknowledge that our work is not done," said the letter signed by 27 House Democrats as of Tuesday evening. "We must continue to work together in a bipartisan fashion -- with a sense of shared responsibility -- toward solutions that address our economic and fiscal challenges. It is time for us to put aside the partisan talking points and accomplish what the American people sent us here to do."

Republicans involved in the negotiations with the White House on the package have warned that any changes by the House could derail the entire proposal, causing tax rates to increase in 2011.

"If the House Democratic leadership decides to make partisan changes, they will ensure that every American taxpayer will see a job-killing tax hike on January 1st," Senate Minority Leader Mitch McConnell, R-Kentucky, said in a statement Monday.

If the House passes a bill that differs from the Senate version, the revised package would need to return to the Senate for another vote. The Senate, in turn, could send back the original bill without any changes to the estate tax provision for a second House vote. Such a scenario, analysts note, would give House liberals unhappy with the president's plan a chance to say they tried to change it.

With the Bush tax cuts set to expire at the end of the year, Obama and Democrats face a fast-approaching deadline to reach a deal. Republicans won control of the House and reduced the Democratic majority in the Senate in the new Congress convening in January, which would give Democrats less leverage to negotiate after the current lame-duck session.

House liberals are not the only ones objecting to the agreement. A number of conservatives, including likely 2012 GOP presidential candidate Mitt Romney, are challenging the deal because it doesn't permanently extend the Bush tax cuts and would add to the deficit.