The New York Post reports on Corporate Leader magazine's poll of the top CEOs based on a survey of analysts and investors. Here's my assessment of the top five:

• Steve Jobs, Apple Inc. (NASDAQ: AAPL). With its stock up 94.4% in the last year -- though 13% below its 52-week high -- Apple's new products this year have been outstanding. But it's a pretty pricey stock; it trades at a Price/Earnings to Growth (PEG) ratio of 1.56 on a P/E ratio of 42.3 and Earnings Per Share (EPS) growth of 27.2% to $6.26 in fiscal 2009.
• Eric Schmidt, Google Inc. (NASDAQ: GOOG). With its stock up 27.8% in the last year -- though 15% below its 52-week high -- Google continues to take share from traditional advertisers while struggling somewhat to profit from all its innovations. But it's a somewhat pricey stock; it trades at a PEG ratio of 1.39 on a P/E ratio of 49.6 and EPS growth of 35.8% to $18.19 in 2008.

During the market disruptions of the past couple of months, we saw Apple (NASDAQ: AAPL) fall from a high of $148 to a low of $118 ( man, what an opportunity that was!!). The stock is now back up to $141 and this may be your last chance to buy it here under $150. Why? A lot of catalysts are on the near term horizon.

Apple finishes its fiscal year in 11 days. The September 30 quarter and year-end will wrap up an exceptional year for Apple, yet many would argue that the best is yet to come. I expect the year finishing in 11 days to have final revenue numbers of $24 billion with earnings per share coming in at $3.75. iPhone revenues will be somewhat relevant, but that piece of the Apple story is JUST BEGINNING. As Apple exits fiscal year 2007, the more relevant story is still the overwhelming success of the iPod with the corresponding iTunes store, and of course, the newly revamped Mac computer. Mac is gaining market share in a fairly fluid market.

The iPhone production is ramping up. For the year (calendar year), Apple had planned to produce 3.6 million iPhone units. That number is now at 4.8 million units in planned production. European nations will be rolled out for iPhone availability beginning in the calendar fourth quarter with the UK and Germany getting ready for the onslaught.

ABC News reports that consumers are using web video to voice their complaints with products and services. I am wondering whether this could be the killer application that will open consumers' wallets to buy Web cameras and related software.

Michael Whitford, a systems engineer from Chandler, AZ, posted a smash-and-bash video titled "Macbook Destruction" in which he demolishes his malfunctioning laptop. Whitford was upset when his new Apple, Inc. (NASDAQ: AAPL) Macbook conked out only six months after he purchased it. When Apple refused to fix the computer for free under his extended warranty, Whitford took matters into his own hands.

With a camera and a sledgehammer, Whitford explained his gripe to the audience before systematically smashing the Macbook to bits. He posted the video on the Web site consumerist.com and within four days Apple contacted him, apologizing for the problem and offering up a brand new $1,700 computer.

When Apple Inc.(NASDAQ: AAPL) introduced the Apple TV product earlier this year, fans came out of the woodwork on how this system would finally bridge the divide between PC content and all the viewing and listening greatness on newer flat-panel televisions and surround sound systems There were other choices, but they were largely considered inelegant and not easy to use. Apple, by reputation alone, always makes things that are easy to use, right?

Although the masters of marketing in Cupertino steal the thunder from most other companies, there are success stories outside of that universe. One appears to be from Microsoft (NASDAQ: MSFT), which has stated that downloads of video content (movies) from its Xbox 360 video on-demand service are now growing by double-digits every month. That is growth, folks.

The one minor thorn is that some customers are complaining (naturally) that high-definition downloads are taking hours to complete, which is more of a broadband internet problem than a Microsoft problem, I would surmise. Still, the growth rate of video on-demand content for the Xbox 360 platform is very impressive thus far, so perhaps Microsoft's strategy of making the Xbox 360 a central, living-room entertainment hub may work after all. That is, as long as those internet pipes get faster and faster. Right now, consumer internet, for the most part, is way too slow to start pushing hi-def content to millions of customers.

Today's launch of Apple Inc.'s(NASDAQ:AAPL) iPhone (actually, this evening's launch) is sure to set many mobile hands on fire just like every Apple product seems to do these days. In what could arguably be called the most anticipated consumer electronics product launch ever, the iPhone buzz is churning up all kinds of racket, from double-digit percentages of mobile customers leaving current wireless carriers to AT&T (NYSE:T)(just to get the iPhone) to AT&T having a whole army of support and sales personnel ready to face the customer onslaught expected later today and into the weekend. Standard Apple madness, right?

What about the effect all those new subscribers (if they materialize) are going to have on the other wireless carriers in the U.S.? Specifically, Verizon Wireless, Sprint Nextel(NYSE:S), T-Mobile and Alltel(NYSE:AT)? These carriers are the ones that are going to face customer defections en masse if iPhone fever gets wireless subscribers dumping existing carriers for AT&T just to get the iPhone. Who could be the biggest loser here? We're not talking reality shows, but the wireless companies that stand to get hurt the most by not having an iPhone to offer.

Sprint Nextel may have the most to lose, as a Bear Stearns analyst predicts that AT&T will lure almost 1.1 million customers from the carrier to AT&T by next year just due to the iPhone. Sprint Nextel has had three quarters of customer declines (mostly due to the mismanagement of the Nextel customer base and brand), and at the worst possible time, more customers could leave in droves not for service offered, but for a product. Is the iPhone really going to be that revolutionary? The customers who buy it will tell the tale, and if they do believe that it will change the mobile landscape forever, Sprint Nextel will be the first to hear about it-- in the worst possible way.

In what looks like a strategy from 1998, Microsoft Corp. (NASDAQ: MSFT) has announced that it's taken a $12 million stake in a Chinese television set manufacturer, Changdong, so that both companies can jointly develop entertainment products linking television and the Internet. That, umm, sounds so last century that it isn't even funny. Remember WebTV, Microsoft?

But this time there is a slight twist to the story. The web is rapidly becoming the mode of choice for distributing movies, music and other entertainment content. Part of Apple Inc. (NASDAQ: AAPL)'s strategy right now with iTunes is to make it a one-stop shop for television shows, recent movies and an entire universe of music available just by using a mouse click and, of course, and Apple iPod. Add the newer AppleTV into the mix, and you're now allowing all that same content to be served right up to newer TV with a simple remote and a high-speed internet connection.

So, perhaps Microsoft's strategy here is to go beyond the current Xbox entertainment content channel and try to bridge this newer distribution model with television content using a TV set maker as a partner. Microsoft, though, has done this before and the resultant splintering of manufacturers, difference in user interfaces and inconsistent user ecosystems caused chaos over time. Apple gets it, though -- the company provides a unified, branded and incredibly easy-to-use front for all this content, whether you're loading it from a PC onto an iPod or downloading that same content to your TV set with a remote control.

Audio content provider Audible Inc. (NASDAQ: ADBL) on May 3 posted 1Q 2007 earnings that finally begin to generate some noise. The company has signed up 72,000 new members in 1Q 2007 alone, although most of these were through an introductory membership offer that does not generate substantial cash flow. Net revenue for for the quarter was up 28% to $25.3 million compared to 1Q 2006, and up 9% from 4Q 2006. More importantly, (though not as nice sounding in print) is that the net loss for 1Q 2007 was half of the net loss for 1Q 2006, $1.2 million in 1Q 2007 vs. net loss of $3 million in 1Q 2006.

In part, the net loss number is due to higher operating costs as Audible Inc. has contracted alliances with more and more content partners to offer audio entertainment, and also more educational programming. Distance education is the fastest growing segment of the post-secondary education market, and Audible Inc. is trying to become the audio education content provider of choice for many distance education programs. Among Audible's audio content affiliates are Amazon.com (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and XM Satellite Radio (NASDAQ: XMSR), as well as more than 420 other content providers of 130,000 hours of audio programming. Audio books and audio educational programming is a viable economic format, as partnerships with Apple show. Apple currently provides advertising for Audible and co-markets for new members.

Even given Audible's modest improvements, the stock would have been a decent investment. It is up over 20% this year. Patient value-investors may want to give Audible Inc. a once over in the near future before the stock begins to attract more attention. Since the beginning of the year, there have been a number of upgrades to buy.

When Apple Inc.'s (NASDAQ:AAPL) CEO Steve Jobs said "let's get rid of Digital Rights Management" recently, some in the music industry stated their displeasure with that comment, as they see DRM the only way to protect the intellectual property of musicians. On the other hand, it severely stifles consumer choice -- digital music players from here won't work with music download services from there. The non-operability of different music download services on the different music players combined with the phenomenal success of the iPod is extremely frustrating.

But the iPod's popularity may have peaked, hence the reason for Jobs' letter to the industry. The thinking may be something along these lines: open up your music and we'll sell it all for you and we'll make up for all those lost CD sales. The "second act" of the iPod is in the planning stages right about now -- and why not non-protected music files?

Some are a little puzzled by Jobs' stance here. He could license his FairPlay DRM to other music-player companies -- giving the ability to play Apple-purchased music on any digital music player. That won't happen of course, as it would break down the iTunes wall. But with the estimate of only 3% of songs on all iPods having DRM in them (meaning they were purchased from the iTunes music store), is this a new open market for Apple should it convince music studios to drop the copy protection requirements on music downloads?

After months of speculation and one bad headline after another (SEC probes, exploding laptop batteries, wilting market share), Dell Inc. (NASDAQ:DELL) did what most people expected and replaced Kevin Rollins as CEO with company founder Michael Dell. The move continued a long tradition of "encore CEOs" who get called back when companies they founded or led to greatness fall on hard times.

Experts say it is rare for a company to go back to its executive roots. The movie signals both a sense of desperation and a need for a proven hand at the helm.

The question now is whether Michael Dell will be the next Steve Jobs or the next Ted Waitt. Jobs famously saved Apple Inc.(NASDAQ:AAPL), which lost its way in the 1990s and saw its already-small market share in PCs shrink dangerously. Jobs revitalized the company, pushing for a new operating system (OS X), new designs (the iMac) and new products (the iPod).

But on the other hand, there was Ted Waitt, who started Gateway(NYSE:GTW) and became an icon (as much for his ponytail and cow-spotted box as for his computers). At the peak of Gateway's strength Waitt handed over the reins, but when the dot-com bubble burst Gateway started to suffer and Waitt stepped back into the corner office. All of his skills and long hair were not enough, though, to turn the company around. He left Gateway again (this time entirely) in 2005.

Other CEOs have done it, with mixed results, among them Charles Schwab at his eponymous firm (NASDAQ:SCHW)(which has gone well) and Ken Lay at Enron (which did not go as swimmingly).

It raises the question, though, of the long-term future for Dell (the company), and it may prove instructive for any business looking to make a leadership change.

At some point, you have to move on.

Michael Dell can not run Dell forever. Bill Gates could not run Microsoft (NASDAQ:MSFT)forever, and knew it, ergo Steve Ballmer. Mom-and-pop businesses that thrive do so because son-and-daughter are ready to step in when the need be.

Some suggest that poor prep work by a corporate board (or Mom and Dad) is to blame for bad transitions. A business has to be preparing itself for new leadership all the time. The recipe seems to be something like this: come to terms with the need for new leadership, swallow your pride, find someone qualified, and then get out of the way and let them run your business for you.

Even if it does feel like cutting off a finger.

The news today that Michael Dell has stepped back into the driver's seat of Dell, Inc. (NASDAQ:DELL) makes me think of that other company that started big, tripped bad and didn't regain its footing until the guy who started it returned to the fold.

I'm thinking, of course, of Apple, Inc. (NASDAQ:AAP) (until recently Apple Computer, Inc.). Founder Steve Jobs was forced out in 1985 by John Sculley, and, after a twelve year train wreck of failed products and low stock prices, Jobs returned ready to rock and roll in 1997 (ousting then-CEO Gil Amelio).

We all know what Apple went on to become under Job's creative and loving eye. Are good things in store for Dell now that the guy who started the company back in 1984 with $1,000 and a lot of chutzpah is back in charge? It would be about time. Dell made our Best and Worst (focus here on the Worst) list for 2006. Remember the exploding laptop battery incident?

Any other examples you can think of when the best guy for the job is the guy with the original vision?

Could Apple, inc. (NASDAQ:AAPL) ever send Steve Jobs packing even if he is found guilty of stock options backdating or other related malfeasance related to the timing and dating of stock options as to maximize profits for a few lucky ones (including himself)?

I can't recall a company in any industry that is so closely tied to its leader, founder and CEO as Apple, Inc. is right now. Jobs practically invented the manic attention to detail and the consumer experience and has created one of the most loyal followings of any consumer brand I can think of. Other notables are Nike, Sony (which is withering on the vine) and BMW.

So, could Apple really show Jobs the door if wrongdoings -- any wrongdoings -- are uncovered and proven true? Would AAPL investors look the other way to ensure the leader of the company that has made many quite the financial windfall stays put? Here is where the true test of what a "double standard" can mean if Jobs ends up being involved in the ongoing options backdating situation at Apple, Inc.

In mid-December, the firm ChangeWave Alliance (via SeekingAlpha.com) surveyed 228 consumer electronics industry professionals on trends for the digital living room. The survey focused on the future of "media centers," which they defined as "high powered devices capable of managing a variety of digital content in the living room or around the home."

No surprise that Apple, Inc. (NASDAQ:AAPL) dominated responses from industry professionals, receiving 43% of total responses. Other manufacturers in the study included Sony (with 14%), Microsoft (totaling 11%), TiVo (8%), and HP (7%). And this was BEFORE Apple's iTV made its debut at the Macworld Conference earlier this month.

Not only should these living room-based electronics-makers be wary, but Blockbuster, Netflix and other video software providers should keep their guard up, as more and more consumers seem to be betting their future on the iTunes movie store.

The survey also revealed that 16% of the industry pros think that it's "very likely" that iTv will be a "huge success" while 48% believed the success of Apple's iTV to be "somewhat" likely. While only 9% rated the device's success as very unlikely. I think I'll put it higher on my list of cool electronics to purchase for my college dorm room... if all goes accordingly.

Although short selling -- the practice of selling borrowed shares with the hope of repaying the loan by buying back the shares at a lower price -- goes against the American belief that stocks always go up, I have long been fascinated with it. Short Stories discusses what works, what doesn't, and what some of the leading lights in shorting stocks think about its opportunities and threats. I describe possible short trades and I seek your comments and questions for story ideas. I don't offer any investment advice and I don't trade on any of the posts I write.

Fred Hickey, a New Hampshire-based newsletter writer, is convinced that Apple, Inc. (NASDAQ: AAPL) is ripe to drop from the tree. I don't agree with him, but let's consider his argument.

Hickey made his comments in the latest installment of the Barron's roundtable which took place several weeks ago. Since I'm not a subscriber to its online version, I can't provide a link to the interview. I find Hickey's comments interesting but he is a bit of a Johnny-one-note -- consistently raging against overvalued tech stocks.

The essence of Hickey's case for shorting Apple is that its stock price is too high because it anticipates unrealistically high iPhone sales.

When you think of retail locations, which store or national chain comes to mind as one who sells more product per square foot than anyone else? Nieman Marcus? Tiffany? Dillard's? Best Buy Co., Inc. (NYSE:BBY)? None of the above.

In an industry known for ridiculously low margins, Apple Computer, Inc. (NASDAQ: AAPL) sells more than any other retailer in any industry per square foot of retail space according to a new report. It's something I've noted before: I admire Apple's tenacity in design and function for the consumer -- and it does this just about better than any other mass merchandise company.

Add to that Apple's marketing finesse and the way it creates hip and cool perception about its products and it's no surprise than per retail shelf and floor space, it sells more than any other company with a retail presence. What is the number? A report released by Bernstein Research analyst Toni Sacconaghi claims Apple Stores have an annual sales per square foot figure of $4,032.