I had a conversation at home yesterday (that did not go so well) but the topic is still a pet peeve, so here you go.
I think that "apostrophe s" is being SO overused in the printed word that clarity is suffering. I think "apostrophe s" should be primarily reserved to represent the possessive. It is used FAR too much, IMHO, for the "is" contraction.
"It's" is a contraction of it is. (BTW, "it's" is ONLY the contraction for it is. If what you are saying is not "it is" then DO NOT put the apostrophe there! I see this error EVERYWHERE!) But "Michael's" should mean "belongs to Michael" rather than "Michael is." As in, "Michael's house needs to be painted." Not, "Michael's going to get his house painted."
I actually consider this the transliteration of how the words are spoken. "Michael is," when said quickly (like most folks do), sounds like "Michael's."
Regardless, what I see lost in this common use of "apostrophe s" is clarity.
Your thoughts? Does anyone else care about such things?