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Can you imagine having $170 billion in cash reserves and not using it to both cut prices for your customers and engage in gargantuan philanthropic works. I can
by standardUser 3y ago
Can you imagine having $170 billion in cash reserves and not using it to both cut prices for your customers and engage in gargantuan philanthropic works.
I can't.
- WXLCKNO 3y agoNot sure they can do that, they have a legal duty to maximize shareholder value.
- FireBeyond 3y agoShareholder benefit has been held many times by courts not to mean "the ruthless and exclusive sole pursuit of maximal profit"
- gruez 3y agoYeah but in this case, "maximize profit by charging 30% tax" is what the board (elected by the shareholders) decided to implement. You're free to disagree, but you'll have to start a proxy fight to change the board.
- standardUser 3y agoI think the greater point here is we need to change federal law if we want companies to not endlessly hoard cash and gouge their customers.
- ericd 3y agoThe people in charge of Apple don't own the company, or that cash. A large portion of that represents many peoples' retirement savings.
- standardUser 3y agoYou speak as if Apple, the company that controls those cash reserves, is incapable of using those cash reserves, which is a strange thing to claim. It may not be a slush fund but it is obviously not untouchable.
- deleted 3y ago[deleted]
- ericd 3y agoNot what I mean, just mean to say that they’re not free to give the money away, like you were suggesting they do.