This morning, listed oddly under Apple news on Yahoo. Is about how many big American Corps. due to big unexpected pension fund liabilities, caused by drop in Interest Rates (so their Pension Assets earn less) are finding they must contribute $Billions to their corp. pension funds for workers. Effected big Cos. including AT&T, VERIZON, FORD article says. HOWEVER APPLE DOES NOT HAVE THIS PROBLEM -- as Apple's 1 million production workers are all "offshored" employees of FoxConn, not of Apple. So Apple never gets hit with up to $9 billion pension charge surprises sucking cash out of the company as happened to one of the other mentioned companies.
AAPL has much production offshore, but they have many thousands of employees with retirement plans... what aapl does not have that many American companies do have is a legacy defined benefit plan. Giving employees a nice 401k plan is MUCH cheaper than providing a defined benefit plan... a huge reason GE's production line labor costs/hour, even after union "concessions", still run well over 2x the those of the toyota plants in the U.S.
AAPL is building new production, R&D facilities, data centers, stores, and other facilities in the United States for several reasons... not the least of which is political savviness... but you won't see a defined benefit plan from them or goog or pcln... DBP are a thing of the distant past for emerging companies.
Exactly my point. One reason Apple's got such Huge Cash Buildup, is it doesn't get hit with up to $9 billion charges for under-funded Pension Plans for Union Workers...etc., that many other big Amer. Corps. get hit with. Not only did AT&T or Verizon get hit with such last quarter... but many Amer. Corps. have gone Bankrupt due to such (United Airlines...etc.) THIS IS ONE RISK APPLE NEVER HAS--- BULK OF ITS WORKERS ARE IN CHINA BY SUB-CONTRACT, SO APPLE NEVER OWES THEM A PENSION. The Market is not recognizing Apple is more secure and worth HIGHER PE THAN GE OR IBM, since Apple never has to make any huge contributions (often surprises or restatements) to its earnings to cover such huge pension costs.