Digital Daily covered the Steve Jobs story this week, starting with the all-hands memo in which the Apple (AAPL) founder announced his medical leave and following through with the reactions of both Wall Street and the company’s investors. Then there’s the general response, which has been variously diagnosing Jobs’s health issues and predicting the demise of Apple without him–not without good reason, but quite a departure from the reaction when Bill Gates left Microsoft (MSFT). Digital Daily also noted that even though Palm’s (PALM) stock price made a jump directly after the introduction of the Pre and its new Web OS, the company will need to sell a lot of phones in order to attract a robust community of developers. And let’s not forget the roll call of fallen companies, including two of the latest to fall victim to the econalypse, Nortel (NT) and Circuit City (CC).

Can Mexican billionaire Carlos Slim save the New York Times? MediaMemo had the story of the gray lady’s possible white knight, plus coverage of some recent ideas about how newspapers in general can be rescued from a grim fate. Hint: not by a Facebook event. There are some bright spots for traditional media, though, made possible by the increasingly social Web. Incredible photos are often made available for free and as news is breaking, saving editors from the limitations and high prices they’re accustomed to from established agencies. A perfect example arose this week when U.S. Airways flight 1549 made a spectacular emergency landing on the Hudson. Twitter, a camera phone and an incredible photo almost singlehandedly changed the way people think about citizen journalism–as an aid to, not a replacement for, professional reporting.

At the Consumer Electronics Show, BoomTown moderated the SuperSession panel titled “What Will They Think of Next? Consumer Technology in 2025.” A lot of the discussion involved pretty much the general consensus of what’s on the horizon, but there were some edgier ideas from the panel, which included an interesting cross section of the digital industry. BoomTown interviewed all of the participants on camera afterward about their visions of 2025, and some of the results were pretty funny. Of course, BoomTown had a say about the various degrees of silence and hysteria surrounding Steve Jobs’s health issues, urging people to put things in perspective, and evoking his 2005 commencement speech, in which he advised graduates to “Stay Hungry, Stay Foolish.” BoomTown says: Not this foolish. The passing of the leadership torch at Yahoo (YHOO) took center stage last week, starting with the classy exit of Sue Decker and her memo to the troops. Next up: Yahoo’s official announcement of Carol Bartz as CEO and her first words as its fearless leader: “Yahoooo!” and “Friggin’.” Here’s full coverage of the transition.

Walt Mossberg voiced his strong and sensible opinion about the media circus surrounding Steve Jobs’s leave of absence on Fox Business last week, which is, first and foremost, concern for the man and best wishes for his recovery. On the gadget front, he discusses different options for putting e-books on your cellphone and Web OS, the new operating system that debuted with the Palm Pre. Katie Boehret looked at a couple of Web search tools that deliver better results by paying attention to what results you click on.

More next week. Wait–later this week.

But this morning I got a missive from an employee at one of the cable news networks, who tells me I’ve got it all wrong. Speed is nice, but these days, there are other considerations that are much more important for media companies:

It’s not the speed of Twitter photo that’s remarkable. It’s that it’s FREE. In the past, we would have got that pic from one of the agencies. We didn’t need anything from the agencies yesterday. Anything we couldn’t get from our own crews, people sent us FOR FREE.”

See? Who says old media have been slow to adapt to the Web?

There are some Webby start-ups premised on this idea, too. NowPublic, notably, is trying to organize amateur reporters and photographers into something resembling a newswire, or at least an interesting site. But those guys still have to figure out how turn that into a business.

But the big guys already have a business. It’s a pretty good one, too: Selling TV airtime to advertisers for a lot more money than the Web guys will ever hope to get. And if they can squeeze a few more dollars out of free Internet content, via outlets like Twitter and Time Warner’s (TWX) CNN iReport site, so much the better.

Second thing: I learned this via Twitter this afternoon, via fellow Twitterer Dave Martin, who was “re-tweeting” information he’d picked up via the Chicago CBS TV station’s Twitter account, which was passing along information it had received from CBS News.

Similarly, I am learning, via Twitter, that this amazing picture from Twitterer Janis Krums, who posted it to Twitpic, is the “first” photo of the airplane in the water. No idea if that’s true–was someone monitoring all news outlets simultaneously before they reached this conclusion?–but it is an extraordinary photo.

In the old days, this image might have taken hours or even days to make it to cable news–think of those terrible videos that people shot with their home cameras during the first few minutes of 9/11. Today Krums was being interviewed on MSNBC 34 minutes after he posted the photo, says Dan Frommer at Silicon Alley Insider.

So: Did Twitter “break” news today? Did “citizen journalists” really ”beat” the bad-old MSM? It’d be great if we could skip that debate. Because it will be as boring as the one we had last month after the terrorist attacks in Mumbai.

So let’s get it over with quickly: I learned that there was a plane in the water via Twitter, via a whole lot of people who live and work on the west side of Manhattan. But the people who told me what had happened after that, and the ones who are telling me why the plane ended up in the water in the first place–those are people who have full-time jobs as journalists. Like the six people who contributed to this excellent report for the New York Times (NYT) Web site.

So I plan on relying on those folks for my news for as long as there’s a business to support them. But I’ll be using Twitter and the Web to augment that coverage–to tell me something very quickly, or to pass along news gleaned from news reports in the first place. See? Easy. Now I’m going to listen to WNYC, the local NPR station, which has been going wall-to-wall with this story all afternoon.