Page 1 of 14 12311 ... LastLast
Results 1 to 10 of 137

Thread: Apple's Tim Cook: Business isn’t just about making a profit

  1. #1
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 09:18 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Apple's Tim Cook: Business isn’t just about making a profit

    He leads a company that some would consider the epitome of ruthless global capitalism. But Apple chief executive Tim Cook has shocked some in the US with an impassioned attack on the single-minded pursuit of profit – and a direct appeal to climate-change deniers not to buy shares in his firm.

    Eyewitnesses said Cook, who succeeded Steve Jobs as boss of the technology giant in 2011, was visibly angry as he took on a group of right-wing investors during a question-and-answer session at a shareholders’ meeting.

    Responding to calls from the National Centre for Public Policy Research (NCPPR), a conservative think tank and investor, for Apple to refrain from putting money in green energy projects that were not profitable, he shot back that Apple did “a lot of things for reasons besides profit motive”. The chief executive added: “We want to leave the world better than we found it.”

    Apple's Tim Cook: Business isn
    Well, that's what shareholders want to hear....Your investment isn't about making a profit....So, I wonder now how long before Apple becomes yet another 'used to be' on the trash heap of good companies ran into the ground by poor businessmen with stupid ideas?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  2. #2
    Educator
    Join Date
    Jan 2014
    Last Seen
    12-14-15 @ 04:17 PM
    Lean
    Undisclosed
    Posts
    997

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    Quote Originally Posted by j-mac View Post
    Well, that's what shareholders want to hear....Your investment isn't about making a profit
    The word "just" (Which is absent from the quote but present in the title) is really important here.
    ( ͡° ͜ʖ ͡°)

  3. #3
    Sage
    clownboy's Avatar
    Join Date
    May 2012
    Location
    Oregon
    Last Seen
    08-17-16 @ 10:31 PM
    Gender
    Lean
    Other
    Posts
    26,087

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    That's a bit shocking considering the CEO has a very real fiduciary duty to investors/stockholders. I mean, breaching that means jail time.

    If the fruitloops at Apple want to fund non-starters, they can do so out of personal funds, they shouldn't be dipping into the company till. How is this not a matter for the SEC?

  4. #4
    Sage
    Fenton's Avatar
    Join Date
    Nov 2012
    Last Seen
    Yesterday @ 08:40 PM
    Gender
    Lean
    Conservative
    Posts
    26,313

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    Quote Originally Posted by Robbie Loucks View Post
    The word "just" (Which is absent from the quote but
    present in the title) is really important here.

    LOL !!

    Its real easy to push that "profit isn't all that matters " rhetoric when your stock is proced at 524.00 bucks a share.

  5. #5
    Professor

    Join Date
    Sep 2011
    Last Seen
    10-28-16 @ 07:51 PM
    Gender
    Lean
    Independent
    Posts
    1,526

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    Quote Originally Posted by Fenton View Post
    LOL !!

    Its real easy to push that "profit isn't all that matters " rhetoric when your stock is proced at 524.00 bucks a share.
    With this guy at the helm, it might be affordable soon!

  6. #6
    Sage

    Join Date
    Feb 2013
    Last Seen
    12-04-17 @ 09:36 AM
    Gender
    Lean
    Libertarian
    Posts
    12,361

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    He could well lose his job for making those statements. But I will take his advice. I promise not to buy any Apple stock. Actually, I despise Apple the company so I wouldn't buy it anyway.

  7. #7
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Today @ 11:50 AM
    Gender
    Lean
    Undisclosed
    Posts
    51,844

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    Right wings get absolutely irate when you suggest profit isn't the only motivation to do anything.

    Although if profit isn't the only motivation, why do their computers have the hardware marked up 200%?

    i should also point out that thinking "green energy isn't profitable" is a short sighted idea.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

  8. #8
    Sage
    AlbqOwl's Avatar
    Join Date
    Jan 2005
    Location
    New Mexico
    Last Seen
    Today @ 01:35 PM
    Gender
    Lean
    Other
    Posts
    17,552
    Blog Entries
    2

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    Quote Originally Posted by j-mac View Post
    Well, that's what shareholders want to hear....Your investment isn't about making a profit....So, I wonder now how long before Apple becomes yet another 'used to be' on the trash heap of good companies ran into the ground by poor businessmen with stupid ideas?
    Further it has been widely reported that Cook bluntly told the shareholders that if they didn't like his more 'liberal' views on how to run the company, they should get out of the stock. Not exactly what the shareholders want to hear. Apple dipped well below $500 in early January, did recover, but was down to $522 today the last time I looked and will probably slide some more because the market is taking a major hit overall today. If Apple stocks continue their downward trend overall, I think we can expect to see another change at the top relatively soon.

    But there are some speculators that say Apple is primed to soar this year. We'll see how it goes. I don't have any Apple stock and would not want to take that risk.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

  9. #9
    Guru
    soot's Avatar
    Join Date
    Apr 2013
    Last Seen
    04-25-17 @ 03:28 PM
    Gender
    Lean
    Independent
    Posts
    4,308

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    This thread takes a real situation, to which Cook was responding, and distills it down to a myopic partisan argument devoid of any real substance.

    This "incident" isn't a commentary on an executive's fiduciary duty, an indication that Cook has gone off the reservation in respect to his duty to his shareholders, or a general commentary on a corporation's responsibilities in general.

    What happened here is that over the course of Cook's tenure as chief executive at Apple he's made an effort to move the company to a more sustainable energy infrastructure.

    Neither Cook nor Apple are unique in this pursuit.

    Most Fortune 500 companies have policies and programs related to issues that aren't, strictly speaking, focused on driving profit.

    Such policies and programs run the gamut from expanded use of renewable/green energy, reinvestment in local disadvantaged communities, support for Veterans, diversity initiatives, monetary contributions to foreign disaster relief efforts, and on and on...

    Generally none of this stuff is a major issue for the majority of shareholders.

    It comes up from time to time where you'll have "activist investors" pushing some agenda or another but it rarely makes the mainstream news.

    And the same actually applies in this case, except it did make the news this time.

    What happened was this...

    An institutional Apple investor, the The National Center for Public Policy Research (NCPPR), got a measure placed on the 2014 proxy statement related to the disclosure to shareholders by Apple (in the form of an annual report) of Apple's involvement with trade organizations, including membership fees paid to such organizations, that focus on sustainable energy issues.

    At the Annual General Meeting (AGM) Apple shareholders voted on the measure and choose to reject the NCPPR's measure.

    Later, representatives of the NCPPR in attendance at the AGM, decided to try to put the screws to Cook and he pretty much told them flat out, "Listen, you guys are partisan idiots. We do plenty of things here at Apple that don't focus primarily on turning a profit and our investment in renewable energy, and our participation in organizations dedicated to renewable energy issues, are just a few of those thing. You put your measure on our ballot, our shareholders voted on that measure, and your measure was rejected. The people have spoken. If you disagree with the direction the leadership and the ownership of this company choose to take it, don't let the door hit you in the ass."

    To turn this into a commentary on anything more than the specific situation in question is disingenuous.

    (To read the actual proposal that was voted down by Apple's owners see this link: http://www.sec.gov/Archives/edgar/da...739dpre14a.htm - refer to Proposal No. 9)
    “Now it is not good for the Christian’s health to hustle the Aryan brown,
    For the Christian riles, and the Aryan smiles and he weareth the Christian down;
    And the end of the fight is a tombstone white with the name of the late deceased,
    And the epitaph drear: “A Fool lies here who tried to hustle the East.”

  10. #10
    Sage
    Dittohead not!'s Avatar
    Join Date
    Dec 2009
    Location
    The Golden State
    Last Seen
    Today @ 01:40 PM
    Gender
    Lean
    Libertarian
    Posts
    41,568

    Re: Apple's Tim Cook: Business isn’t just about making a profit

    Profit as the only objective is the mentality of the cartels.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

Page 1 of 14 12311 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •