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Steve Jobs Snubbed as TIME Magazine Announces Its Person of the Year

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It’s the end of the year, the time when news organizations start compiling lists: top 10 movies or songs of the year, top 10 news stories of the year, and of course, a perennial favorite, TIME Magazine’s Person of the Year.
Before the list was announced, there had been speculation that former Apple (AAPL) CEO Steve Jobs, who passed away in October, might become the first person to be given this honor posthumously.
A panel of TIME magazine experts had spoken about the possibility of nominating Jobs at a discussion in November. Panelist Brian Williams, host of Comcast (CMCSK) subsidiary NBC’s Nightly News, said, “Not only did he change the world, but he gave us that spirit again that something was possible, that you could look at a piece of glass or plastic and move your finger, that’s outlandish… may he rest in peace.”
Another panelist, celebrity chef Mario Batali, concurred, saying, “I’m definitely a part of the fact and the belief that smartphones, the cell phone with photographic capability, has changed the world as much as the Bible has,” Mashable reported.
Ultimately though, the panel of experts does not decide on the magazine’s Person of the Year. TIME’s editors have anointed the Protestor as its Person of the Year, after the regime-toppling Arab Spring that occurred in Tunisia, Egypt, and other parts of the Middle East, as well as the Occupy Wall Street movement that has swept America and the rest of the world. According to the publication:

The nonleader leaders of Occupy are using the winter to build an organization and enlist new protesters for the next phase. They have shifted the national conversation. As Politico recently reported, the Nexis news-media database now registers almost 500 mentions of "inequality" each week; the week before Occupy Wall Street started, there were only 91. But what would count, a few years hence, as success? According to gung-ho Adbusters editors Kalle Lasn and Micah White, it's already "the greatest social-justice movement to emerge in the United States since the civil rights era." Yet it took a decade to get from the Montgomery bus boycott to the federal civil rights acts, which were just the end of the beginning.

The wisest Occupiers understand that these are very early days. But as long as government in Washington — like government in Europe — remains paralyzed, I don't see the Occupiers and Indignados giving up or losing traction or protest ceasing to be the defining political mode. After all, the Tea Party protests subsided only after Tea Partyers achieved real power in 2010 by becoming the tail wagging the Republican Party dog. When radical populist movements achieve big-time momentum and attention, they don't tend to stand down until they get some satisfaction.

The protestor succeeds Facebook founder CEO Mark Zuckerberg, who was last year’s honoree. In 2009, Fed chairman Ben Bernanke got the award. Other previous winners include President Obama, Amazon's (AMZN) Jeff Bezos, and U2 Frontman Bono.
Placing second behind those at Tahrir Square and Occupy emcampments is congressional Republican Paul Ryan, who burst into national prominence with his austere budget plan. And while Steve Jobs was snubbed as Person of the Year, his successor Tim Cook was named as one of TIME’s people who matter. Other business leaders in the list include Berkshire Hathaway (BRK A) head, Warren Buffett, famous for exhorting fellow super-rich Americans to pay more taxes. Netflix (NFLX) honcho Reed Hastings and News Corp.(NWS) chief Rupert Murdoch, who is still mired in the phone hacking scandal, were also mentioned along with ousted Olympus chief and whistle blower Michael Woodford.
POSITION:  No positions in stocks mentioned.