Hopefully Cook will get Roasted over an open fire. That's my vote... Call him over to HR dept, send him home-no bonus-no severance package-pink slip handed to him-escort him out with security off the premises.
Looks like they chose to save face! That Cook really is a Jack#$%$ not to give something solid to the the shareholders rather than Just the Rhetorical Brush-off as they are very concerned and looking very actively into the cash hoard. He really does not know how to lead nor does he realize it is time to rally the company and the shareholders with something solid.
TC will do nothing until his stock options become worthless....then he will care about the shareholders again. Proposal will be taken off. They didn't care about the other 2 non-important issues anyway. It was all a smoke and mirrors to keep shareholders from questioning the preferred share option in the first place. They don't give a rat's asks about par value, etc.
They wont do too much. The legal team is in charge and they are the major enemy of the stock because they want to proof that they are right with more litigation which only distract management. What they dont understand is that even when they win litigation the brand lose. Apple legal strategy sucks. What they dont understand is that even if they get $1billion from Samsumg this was a great deal for Samsumg because the marketing was huge and the only one who lost was the Apple brand
I hope the Board decides toshow some power and propose to borrow $200 billion at the current low rates... pledging the next 4-5 years earnings to pay it back in full... couple that with the roughly $140 billion it already has... and buy the smallest 250 companies on the S&P 500 for cash! That would show these #$%$ nay-sayers the power that the company holds.
Of course this will never happen... I am just writing something down.
If you mean the Einhorn suit, it simply means the items on the ballot cannot be bundled for the vote ... they can either separate them and then vote or defer it to a later date. From what I understand, the measure was only to limit the issue of PF stock in the future ... has nothing to do whether the company will or will not issue preferred stock. Einhorn can win the bundled issue and Apple can say "Great, we aren't issuing PF stock for the next 20 years so stick it" ... He is pushing it because he has 1.6 million shares. Most of us small shareholders will not see that level of benefit. The company decides what they want to do or not not the activist investors. I agree Apple needs to do something with the massive money but as it keeps building and building, it only gets better for the shareholders. Eventually it will be so big it will perpetually sustain a major dividend for our lifetimes!
This is exactly right. Einhorn is taking this thing one step at a time. The ballot issue with bundling the three separate items is a separate & distinct matter. Following this, Apple would have to decide whether or not to issue preferred stock, which they most likely would not. It would appear that Einhorn is taking this route to separate the preferred stock issue from the pervue of a shareholder vote, which in practice is a longer, more drawn out process. In theory, he then could approach Apple mgmt in private negotiations to work out some sort of equity payout deal. (Which of course, would be done for the benefit of his fund principally.)
I believe all they're going to do is go over what ever is in the proxy. Maybe acknowledge the suit, but not talk about anything coming out. These meetings are usually confined to voting. Any announcement would most likely be before or after. My guess.
If AAPL's shareholder board meeting is as I would expect there should be questions from the floor. I hope the attending shareholders are aggressive and ask some very important questions regarding supply chain issues and address the negative rumors.