New To Mac-Forums?

Welcome to our community! Join the discussion today by registering your FREE account. If you have any problems with the registration process, please contact us!

Get your questions answered by community gurus • Advice and insight from world-class Apple enthusiasts • Exclusive access to members-only contests, giveaways and deals

Join today!

 
Start a Discussion
 

Mac-Forums Brief

Subscribe to Mac-Forums Brief to receive special offers from Mac-Forums partners and sponsors

Join the conversation RSS
Apple Rumors and Reports Discuss what's going on with Apple in this forum

Tim Cook angrily rejects political proposal asking for profits-first policies


Post Reply New Thread Subscribe

 
Thread Tools
iggibar

 
iggibar's Avatar
 
Member Since: Apr 20, 2009
Location: C-Town
Posts: 4,064
iggibar is a splendid one to beholdiggibar is a splendid one to beholdiggibar is a splendid one to beholdiggibar is a splendid one to beholdiggibar is a splendid one to beholdiggibar is a splendid one to beholdiggibar is a splendid one to beholdiggibar is a splendid one to behold
Mac Specs: Mac Pro 4.1 15" MBP. 13" MBP. 17" PB. Power Mac G5. iPhone 5s 64gb

iggibar is offline
Tim Cook Angrily Rejects Political Proposal Asking for Profits-First Policies - Mac Rumors

Stick it to 'em Tim!
Quote:
"At today's annual meeting of Apple shareholders, Apple CEO Tim Cook informed investors that are primarily concerned with making reasonable economic returns that their money is no longer welcome."
Way to lay the smackdown!

“If you are distressed by anything external, the pain is not due to the thing itself but to your own estimate of it; and this you have the power to revoke at any moment.” Marcus Aurelius
QUOTE Thanks
MacInWin

 
MacInWin's Avatar
 
Member Since: Jul 07, 2008
Location: Winchester, VA
Posts: 2,339
MacInWin is a splendid one to beholdMacInWin is a splendid one to beholdMacInWin is a splendid one to beholdMacInWin is a splendid one to beholdMacInWin is a splendid one to beholdMacInWin is a splendid one to beholdMacInWin is a splendid one to beholdMacInWin is a splendid one to behold
Mac Specs: 2011 MBP, 2008 iMac, iPhone 5S, iPad mini, 13" MBP and MacMini

MacInWin is offline
On the other hand, he has a responsibility to the people who loan the company money (stockholders) to do the things he wants to do. That's how the public market works. Doing a "smackdown" on his investors is NOT generally a good idea. Explaining to the investors why he is using their money the way he is using their money is a better approach, IMHO. Then any investor who is unhappy about his decisions can vote with their money.
QUOTE Thanks
Exodist

 
Exodist's Avatar
 
Member Since: Nov 26, 2012
Location: Agusan del Norte, Philippines
Posts: 683
Exodist is a jewel in the roughExodist is a jewel in the roughExodist is a jewel in the rough
Mac Specs: L2012 Mini, i7 2.6Ghz, 8GB RAM, 256GB SSD + 1TB HDD, dual 23" LED Displays

Exodist is offline
Its not like Apple is going belly up.. They are turning a profit more now then ever. Sounds like just had some shareholders wanting to squeeze another penny instead of wanting to let Tim future proof the company with more investments and research & development. His job is to make sure the company continues to run day after day and year after year while still making a profit. Most stockholders would assume to invest today, get their profit tomorrow and pull out. Letting the company fall to the ground while they move onto the next big investment.


NEW!! Exodist Photography Video Blog
***If someone helps you, please don't forget to use the reputation system.***
QUOTE Thanks
bobtomay

 
bobtomay's Avatar
 
Member Since: Dec 22, 2006
Location: Texas, where else?
Posts: 25,021
bobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond repute
Mac Specs: 15" MBP 2.33 C2D 256 4GB, MBA 13" i7 1.8, MB 2.0 2GB, Nano 4th, 3GS, iPad 1

bobtomay is offline
And while we're at it, lets just go back to the days when no such thing as a middle class existed either. I'm just about as conservative as they come politically, but even I would not consider going back to the place the NCPPR would have us go. You don't have to be a liberal to realize that group has no soul.

I cannot be held responsible for the things that come out of my mouth.
In the Windows world, most everything folks don't understand is called a virus.
QUOTE Thanks
vansmith

 
vansmith's Avatar
 
Member Since: Oct 19, 2008
Location: Toronto
Posts: 17,893
vansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond reputevansmith has a reputation beyond repute
Mac Specs: 2012 13" MBP (2.5 i5, 8GB)

vansmith is offline
I don't actually believe that Apple doesn't put profits first (they're a business after all with a huge profit margin) but I do believe that they do put other things first before massive profits some of the time. Then again, at least they believe in climate change, something that "think tank" decided was worthy of quotation marks as if it wasn't real. I'm going to warn you - if you value your brain, tread lightly.

The first line of that press release gets me:
Quote:
At today's annual meeting of Apple shareholders in Cupertino, California, Apple CEO Tim Cook informed investors that are primarily concerned with making reasonable economic returns that their money is no longer welcome.
Evidently, this person doesn't realize that Apple very much is concerned with making returns on their investments and distribution. How could you make that conclusion about a company that sells goods for a pretty penny?

My favourite part though is this:
Quote:
The National Center's shareholder resolution noted that "[s]ome trade associations and business organizations have expanded beyond the promotion of traditional business goals and are lobbying business executives to pursue objectives with primarily social benefits. This may affect Company profitability and shareholder value."
Oh no, wouldn't want to care about people now would we? This statement is nothing short of violent - pursuing profits to the discrediting of work done to help social causes.

Important Links: Community Guidelines : Use the reputation system if you've been helped.
M-F Blog :: Write for the blog
Writing a Quality Post
QUOTE Thanks
Lifeisabeach

 
Lifeisabeach's Avatar
 
Member Since: Sep 30, 2007
Location: Wilmington, NC
Posts: 6,933
Lifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond repute
Mac Specs: iMac i3 (mid-2010) + OS 10.9; TV 3; iPhone 5S; iPad 4

Lifeisabeach is offline
IMO, I think Apple really needs to buy back all of their stock and go private. Hungry wolves have their eyes on Apple and if like-minded people do manage to get a majority share of the company in time, they will put in place whoever they want so they can sacrifice the company's core values and squeeze everything they can out of it. This is a sad trend, but vulture capitalism is a big problem today. Just look at what happened to Hostess.

@ MacInWin

I think Apple also has the right to tell shareholders that they don't want their money, or they should have the right anyway in principle. Besides, judging from a vote on the matter, 97+% of the shareholders agree with Tim Cook. It's probably worth mentioning that hardly any of these people actually loaned money to Apple. That money was loaned out many years ago by others, and the stock is just traded as a commodity these days. If I understand this all correctly, anyway.
QUOTE Thanks
bobtomay

 
bobtomay's Avatar
 
Member Since: Dec 22, 2006
Location: Texas, where else?
Posts: 25,021
bobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond reputebobtomay has a reputation beyond repute
Mac Specs: 15" MBP 2.33 C2D 256 4GB, MBA 13" i7 1.8, MB 2.0 2GB, Nano 4th, 3GS, iPad 1

bobtomay is offline
Quote:
Originally Posted by lifeisabeach View Post
... That money was loaned out many years ago by others, and the stock is just traded as a commodity these days. If I understand this all correctly, anyway.
10-4

Apple has never seen a penny from the pocket of that group of "investors".

I cannot be held responsible for the things that come out of my mouth.
In the Windows world, most everything folks don't understand is called a virus.
QUOTE Thanks
harryb2448

 
harryb2448's Avatar
 
Member Since: Nov 28, 2007
Location: Nambucca Heads Australia
Posts: 17,549
harryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond reputeharryb2448 has a reputation beyond repute
Mac Specs: iMac i5 2.7GHz OS X.9.4 and OS X.10

harryb2448 is offline
As a shareholder I agree with Cook 100%. Put some money in during the 'dark days' back in 1999 and any return has to be worth the risk.

Hang on to those original install discs like grim death! Using OS X.7 or later make a bootable USB thumb drive before running Installer!
QUOTE Thanks
Exodist

 
Exodist's Avatar
 
Member Since: Nov 26, 2012
Location: Agusan del Norte, Philippines
Posts: 683
Exodist is a jewel in the roughExodist is a jewel in the roughExodist is a jewel in the rough
Mac Specs: L2012 Mini, i7 2.6Ghz, 8GB RAM, 256GB SSD + 1TB HDD, dual 23" LED Displays

Exodist is offline
Quote:
Originally Posted by vansmith View Post
I don't actually believe that Apple doesn't put profits first ...
Someone would be mad to think otherwise. But making sure company continues to turn a profit for years to come -vs- turning a huge profit for a year then bottom up is more important. But some people just want to see it all burn I guess...


NEW!! Exodist Photography Video Blog
***If someone helps you, please don't forget to use the reputation system.***
QUOTE Thanks
osxx

 
osxx's Avatar
 
Member Since: Jan 19, 2008
Location: houston texas
Posts: 4,648
osxx is a name known to allosxx is a name known to allosxx is a name known to allosxx is a name known to allosxx is a name known to allosxx is a name known to allosxx is a name known to all
Mac Specs: 09 MBP 8GB ram 500GB HD OS 10.9 32B iPad 4 32GB iPhone 5 iOs7 2TB TC Apple TV3

osxx is offline
Quote:
Originally Posted by lifeisabeach View Post
IMO, I think Apple really needs to buy back all of their stock and go private. Hungry wolves have their eyes on Apple and if like-minded people do manage to get a majority share of the company in time, they will put in place whoever they want so they can sacrifice the company's core values and squeeze everything they can out of it. This is a sad trend, but vulture capitalism is a big problem today. Just look at what happened to Hostess.

@ MacInWin

I think Apple also has the right to tell shareholders that they don't want their money, or they should have the right anyway in principle. Besides, judging from a vote on the matter, 97+% of the shareholders agree with Tim Cook. It's probably worth mentioning that hardly any of these people actually loaned money to Apple. That money was loaned out many years ago by others, and the stock is just traded as a commodity these days. If I understand this all correctly, anyway.
Well said and I agree.
QUOTE Thanks
XJ-linux

 
XJ-linux's Avatar
 
Member Since: Jul 02, 2007
Location: Going Galt...
Posts: 3,353
XJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond reputeXJ-linux has a reputation beyond repute
Mac Specs: MacBookAir5,2:10.9.4-MacMini3,1:10.9.4-iPhone6,1:7.1.2

XJ-linux is offline
"Apple CEO Gets Upset When Asked Investment Question by Investor; Turns it into Populist Gold with Rant"

CEOs don't like to get called on stuff at all, let alone publicly. The investor got what you get in these situations. I don't buy what Cook is spinning as anything more than a good CEO doing his job and capitalizing on a situation. As far as the environment and social issues... when they quit using pollution central and slave labor to drive their product, I'll take their environmental and social consciousness more seriously. Whatever.

"Those who don't understand Unix are condemned to reinvent it, poorly." – Henry Spencer
QUOTE Thanks
chas_m

 
chas_m's Avatar
 
Member Since: Jan 22, 2010
Location: Victoria, BC
Posts: 16,765
chas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond repute
Mac Specs: 2012 MBP, Black speakers, Black Benq second monitor, black(ish) iPhone 5s, Black 2012 iPad, etc.

chas_m is offline
From what I've read of this thread, did anyone actually catch the *context* of his *actual remarks* or did we all stop reading at the headline/lead?

He didn't say that Apple wasn't interested in making a profit, nor did he say that investors who are interested in profit should go elsewhere. What he *did actually say* is that not **everything** Apple does is concerned with return on investment above all other considerations -- and brought up the example of Apple making sure that their devices work well for blind and other disabled persons. As for the "go elsewhere" quote, he again didn't actually say that, its a paraphrase. What he actually said was that sometimes Apple invests in things not because of guaranteed ROI but because they were "just and right." His actual quote: "if you want me to do things only for ROI reasons, you should get out of this stock."

The reason he said that is because the idiot questioner (unsurprisingly from a conservative dumb tank) asked to him pledge -- on the spot -- that Apple would from now on filter everything they do by ROI. Said idiot also had his proposal put on the ballot for shareholders to vote on -- and he didn't manage to get even three percent of the vote. His other question to Cook made it plain he was a climate-change-denier nutcase with an agenda against Al Gore. Again, Cook handed him his rear end and told him to SD&STFU.

ENTIRELY appropriate answers on both counts, IMO.
QUOTE Thanks
Lifeisabeach

 
Lifeisabeach's Avatar
 
Member Since: Sep 30, 2007
Location: Wilmington, NC
Posts: 6,933
Lifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond reputeLifeisabeach has a reputation beyond repute
Mac Specs: iMac i3 (mid-2010) + OS 10.9; TV 3; iPhone 5S; iPad 4

Lifeisabeach is offline
Chas, I know exactly what was said, and the context. I'm pretty sure everyone else in the discussion does as well. What I'm confused over is why you think we don't?
QUOTE Thanks
chas_m

 
chas_m's Avatar
 
Member Since: Jan 22, 2010
Location: Victoria, BC
Posts: 16,765
chas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond reputechas_m has a reputation beyond repute
Mac Specs: 2012 MBP, Black speakers, Black Benq second monitor, black(ish) iPhone 5s, Black 2012 iPad, etc.

chas_m is offline
Sorry, I was irritated at the poor quality of the reporting I'd seen on the event in question, and that was reflected in the thread title and some of the things said in earlier posts. I meant only to clarify what actually happened as opposed to what most of the media summarized. My apologies to any members here that I offended with my over-caffeinated tone.
QUOTE Thanks
RavingMac

 
RavingMac's Avatar
 
Member Since: Jan 07, 2008
Location: In Denial
Posts: 7,615
RavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond reputeRavingMac has a reputation beyond repute
Mac Specs: 4GB Mac Mini 2012, 13" MBA, 15" MacBook Pro OSX 10.7, 32 GB iPhone 3GS, iPad2 64gb 3G

RavingMac is offline
I think something that is often forgotten is a corporation is not by default a profit producing engine. A corporation is a legal construct whereby people band together and pool their resources, talents and labor to accomplish a common vision. That vision may only be to maximize ROI, but it doesn't have to be. Witness the many non-profit corporations.

Apple has profit as a major part of its vision, but it isn't the sole goal, and I believe that was the message Tim Cook was trying to get accross.

EDIT: I wouldn't want to be treated by an MD whose only goal was maximum ROI. The unfortunate truth is most of us have to labor to eat, pay the bills and keep a roof over our heads. If we are truly fortunate we can achieve those ends through laboring at something we find interesting and fulfilling.
And, I believe we all benefit when we are served by people who would do what they do if they were rich enough to not have to work.

I've always wanted to be smart, handsome and modest. But, I guess I'll have to be satisfied with two out of three . . .
QUOTE Thanks

Post Reply New Thread Subscribe


« Snow Leopard updates | Tim Cook calls Yukari Kane book Haunted Empire “nonsense”. . . .. »
Thread Tools

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off
Forum Jump

Similar Threads
Thread
Thread Starter
Forum
Replies
Last Post
Rosetta I wrote to Tim Cook, CEO of Apple karlreed OS X - Operating System 1 04-22-2012 10:31 AM
Tim Cook: Tablet market will eventually exceed PC market OneMoreThing... Apple Rumors and Reports 0 01-24-2012 09:11 PM
Comments from Apple exec Tim Cook hint at lower-priced iPhone options the8thark Apple Rumors and Reports 0 02-28-2011 11:39 PM
Inside Apple's shareholder meeting and Q&A with Tim Cook the8thark Apple Rumors and Reports 3 02-24-2011 04:17 AM
Apple's Tim Cook gets his earthly reward the8thark Apple Rumors and Reports 2 03-13-2010 02:23 AM

All times are GMT -4. The time now is 12:33 AM.

Powered by vBulletin
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
X

Welcome to Mac-Forums.com

Create your username to jump into the discussion!

New members like you have made this community the ultimate source for your Mac since 2003!


(4 digit year)

Already a member?