As part of its governance rules, Apple recently altered its requirements in regards to executive compensation and stock ownership. As of February 6, Apple executives and board members will be forced to own a hefty amount of shares, in accordance with salary.
Just last week, we reported on the lawsuit raised by Greenlight Capital's David Einhorn. Apple quickly responded to the kerfuffle, essentially calling Greenlight's accusations bogus on a number of grounds. Today, Apple CEO TIm Cook has publicly given his take on the matter, and it appears he's less than amused.
David Einhorn's Greenlight Capital, a shareholder in Apple, filed a federal lawsuit against Cupertino today in response to a proposal set for a shareholder vote on February 27. According to Einhorn, Apple is hoarding large amounts of cash. Apple, as you might have guessed, disagrees with many of the statements made by Greenlight.
Fresh off a couple of exciting months of product announcements, Apple has reported a record fourth-quarter. Amazingly, the company now has over $121 billion in cash--that's cash money. Excuse me while I envision Tim Cook diving into a room of coins, like in the beginning of DuckTales.
Well, much like the end of last week, it's another great day to be Apple. The fallout from the Samsung trial verdict is still reaping rewards for Cupertino, even as things get all the more complicated. Sure, it's going to be a while before Samsung will ever cough up any money for damages, but the win gave Apple shares a significant boost today.
An executive selling off their shares in the company they work for always makes for news, but when the amount in question is 95 percent and the executive is none other than iOS chief Scott Forstall, it could make headlines.
Remember when everyone kept saying that Apple was circling the drain? Remember Gil Amelio? Remember the beige boxes of yesteryear? No one could possibly have predicted that one day Steve Jobs would return to the company he helped found and bring it to a place of surpassing prominence. However, the numbers don't lie: Apple's stock closed today at $317.60 billion dollars, which is a hair over the $316.80 billion that results if you combine the shares of Microsoft and Intel. That's right: combined, Intel and Microsoft still come up short.