Posted on 03/03/2014 4:00:38 PM PST by Windflier
Apple chief executive Tim Cook has told climate-change deniers they should not buy shares in the company.
Cook, 53, who took over the company shortly after Steve Jobs died of cancer in October 2011, was giving a talk at the 2014 Annual Meeting of Shareholders when he made the remarks.
The National Centre for Public Policy had called for Apple not to put money in green energy projects which are not profitable.
However, Cook said Apple did 'a lot of things for reasons besides profit motive' adding: 'We want to leave the world better than we found it.'
He said: 'If you want me to do things only for ROI (return on investment) reasons, you should get out of this stock.
'When we work on making devices accessible to the blind, I don't consider bloody ROI'.
Since becoming Apple's chief executive, Cook has increased the use of solar, wind and geothermal resources used to power the company's offices to more than 75 per cent.
He has also donated millions of dollars of Apple's money to charity.
Pledging to improve conditions for workers in China where iPhones and iPads are made he said: 'We believe that workers everywhere have the right to a safe and fair work environment.'
(Excerpt) Read more at dailymail.co.uk ...
Another thing on ROI - since when did that become the magic financial calculation? There are dozens of financial ratio’s better than ROI. When I was at UPS it was never used. We don’t use it at my current company.
Re: ROI Since Apple has not issued any common stock in a LONG time, none of the investors who are complaining have actually invested directly with Apple. They have purchased their investments in the STOCK MARKET and will turn around and sell their investment in the STOCK MARKET. . . a game of perceptions and gambles. It has little to do with how well Apple itself is doing.
Look at the last quarter. Apple turned in RECORD revenues, RECORD sales, RECORD everything. Apple blew the doors off of every other company in the Stock Market . . but because they did not hit the absurd targets some ANAL-lysts' inflated numbers that the ANAL-lysts pulled out of their respective asses without any basis in reality, Apple's stock prices went DOWN because idiots believed it was "in trouble," despite those stellar results! No company can match inflated expectation from idiots who prognosticate on rumors, but that is what the Stock Market runs on: rumors.
My degree is in Economics with a minor in Finance... and these guys who are complaining have no clue what they are talking about. Apple is in great shape and the ROI of Apple is among the highest, if not the highest, of all the companies on the Stock exchange. Right now, Apple has enough cash-on-hand to BUY most of the companies on the Exchange. . . and these idiots were complaining about the expenditures of a couple of hundred million on what they considered "non-essentials" that might impact their Return on Investment? That is looking a gift horse in the mouth when the gift horse is Secretariat!
ONLY happened 'cause Carl Icahn got on his ass, scared the board, and gave him little to no alternatives.
ROI is for mutual fund investors... not for a company that is planning for the future. It is the mantra of MBAs who have driven many companies into the dirt by watching the monthly and quarterly reports and lost sight of the long term goals. It is what happened to Apple in the Jobs hiatus in 1985-1997. . . when the CEOs were more interested in short term ROI than in making insanely great products that would grow the company. . . and the company almost tanked.
Apple has made many investments in R&D that have not borne fruit. . . yet. Should they have NOT made those R&D investments? Apple paid a handsome license fee for the rights to Liquidmetal in all consumer electronics, but have yet to use it. Was that a 'waste?" According to Justin, it would have been verboten under the stricture that "every decision MUST make a profit!" Time will tell if the liquid metal decision will make a profit or will be written off... IT certainly was not a decision such as Google's $16 Billion acquisition of Motorola Mobility, or Facebook's $19 billion latest purchase of a money losing company. Where is Justin's stance on those decisions?
There are some days I wish we had a “Like” button... ;-)
Uh, no. Apple was already buying back stock and paying a dividend before Icahn started making waves. They just INCREASED the amount of buy back. . . and Icahn is a small minority stockholder; only the press gave him any credence...
Apple had already started the process to issue the bonds for the buy back BEFORE Icahn issued his first letter or ever even BOUGHT his first share of Apple stock and met with Tim Cook. It takes TIME to put those things together. You can check the dates on the filings with the FEC and see.
FEC=SEC Damn auto correct
You pushed it. Thanks.
Mine was Florida when Job's and I believe it was Woz, were making their rounds trying to sell their new computer to businesses...I met them, helped them set up the demo and they were snooty by any standard.
I never did buy a APPLE product...Not a single one..and I even tried to keep their software off my computers..when I saw it..
I've done no such thing and you damn well know it. I've pointed out Tim Cook's actual statements, and have given my opinion on them. That's it.
You tell me right now -- what poster have I insulted on this thread? What slur did I use, and against whom?
You don't count, because you deserved a return insult for the monkey crap you hurled at me earlier. Go on, big man, post the quotes, or retract what you said.
Whoops! Lotta Indians leaving the reservation, eh?
Haven’t yet heard anything from “fanboys.”
Must be bent over so far for Tim that their voices are muffled.
Ha! It was not Icahn. It was Einhorn. Ichahn is doing what he always does.
Give 'em a minute. They can probably hear us talking from whatever thread they're on at the moment.
The more I read from people on this site the more I’m convinced very few have any clue about finance, investing, shareholders, boards, the way corporations work, etc, The stuff on this board is mostly pure ignorance. I used to expect more from Free Republic folks but not any more.
I’d admire that he freely admits it so investors know what they are getting into, and can divest accordingly.
Actually, you have. I never said you've picked out anyone in particular, but you did slur me. In particular. In fact, that little "big man" is intended to belittle me again. More ad hominem attack. It doesn't help your position to use such tactics. Please show me where I insulted you. Show us ALL the "monkey crap" you claim I "hurled at you." I have been invariably polite to you. I merely suggested you learn FACTS before you swallowed your leg. I think with this post, you're up to your knee.
You claim that you've "pointed out Tim Cook's actual statements, and have given my opinion of them." But, Windflier, that is NOT what you have done. YOU posted distorted claims of what Cook said, a Strawman claim, and then proceeded to expound on a FALSE caricature of his actual statement. You've never acknowledged that your posting was a mis-representation, out of context, and not what your headline implied.
Wyatt's Torch and I posted what Cook truly said and it did not agree with what YOUR exaggerated representation claim of what those with an agenda claim he said. I posted facts that you continually ignored . . . preferring instead to repeat your agenda, ignoring the economic truths. I conclude you aren't interested in facts but prefer to just pile on with bile and innuendo. Truth is NOT important to you. That is sad.
You've asked for a listing of your slurs and insults. OK.
You will get no retraction from me. I've put up with this sh!t for too many years from you sanctimonious PC users who think they know everything about a Mac because "they've played" with one for a few minutes.
Calling names is all this clown has. He has zero idea of how actual business works. Never dealt with investors. Analysts. Financial statements. Financial analysis. He’s simply an ignorant fool when it comes to this issue. Don’t waste your time.
Are you serious? You utterly failed to quote a single instance of me insulting anyone on this thread - after accusing me of that very thing - and now you insist that I show you where you insulted me?
Try looking at your last reply to me for starters. After a long diatribe of twisted logic defending Tim Cook, you ended off by slapping me straight across the face. Did you really think that would elicit a civil response from me?
No, you deserved the return fire.
Again, here's your spurious accusation:
you have been spouting insults and slurs in almost every post you make… YOU are the one making ad hominem insults to people you disagree with.
Now I'm going to ask you again. Show me where I posted an ad hominem insult to anyone posting to this thread. And don't regurgitate the satire I posted to Norm. That wasn't directed toward any person here.
I've done nothing but state my opinion on this thread - just like dozens of others, but you appear to have the incapacity to allow another person to disagree with your love object. You insist upon beating others down with your biased viewpoint.
Here's a free tip: Every person has a right to see things from their own viewpoint, regardless of what others think. It's called having an opinion, and I reserve the right to keep mine no matter how much it irritates you.
You want to talk about established facts, that's another thing. That has little to do with the basis of this story. I think Tim Cook was arrogant and insulting to the conservative investor group who merely asked him for some sort of accounting for what Apple spends on their 'green' projects.
Their spokesman didn't deserve to be publicly humiliated by the CEO. It's a CEO's duty to answer to the shareholders whose investment capital funds the company's forays into new research, etc.
That's my view of it, whether you like it or not.
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