After Thursday´s Wall Street drama -- in which a media blitz orchestrated by hedge fund billionaire David Einhorn got a rise out of Apple (AAPL) management and a pop in the stock price -- I have a few thoughts about what´s going on. (Snip) Einhorn is lobbying ordinary investors to vote against transparency and shareholder rights! Second, the more I look at Einhorn´s preferred stock option, the less I like it. To get a feel for its complexity and the effect it might have on the value of Apple´s common stock, I encourage you to read through the e-mail exchange
Comments: Whatever Einhorn’s intentions are, he comes across as trying to shake down a company that is worth more billions than most other companies in the world. Has Einhorn proposed similar with any of his lesser investments? If not, why not?! Steve Jobs, I hope you are watching over the Apple of your eye.
I´d have to take the side of David Einhorn. Usually it´s a bad idea to have stocks artificially low (especially when they have cash). Such a situation eventually attracts "raiders", who take the cash and dismantle the rest. Just remember, that´s what Romney was accused (falsely) of doing in his younger years at Bain.
Steve Jobs would not have returned cash to his shareholders. In the entire time that Steve Jobs controlled Apple, it never once paid out a dividend, or in any other way shared its profits with shareholders. When Steve Jobs was alive, the only way to profit from Apple was to find someone who was willing to pay more than you had for the "honor" of owning a piece of the company.
It isn´t Apple´s money. That money belongs to the Shareholders. If Apple is just going to sit on it without investing in anything,shareholders should force management to let some of it go to its rightful owners.
Saudi Arabia and the United Arab Emirates (UAE), apparently pleased with the ouster of the former President Mohamed Morsy, have approved $8 billion in aid to Egypt on Tuesday. The Saudi funds comprise a $2 billion central bank deposit, $2 billion in energy products, and $1 billion in cash, the Saudi Finance Minister Ibrahim Alassaf told Reuters. (Snip) The rise of Mohamed Morsy´s Muslim Brotherhood in Egypt since 2011 has unsettled most Gulf Arab states, including the UAE, which feared it would embolden Islamists at home. Morsy became president a year ago in Egypt´s first freely contested election.
The second suspect in the Boston Marathon bombings was taken into custody Friday night, bringing to an end a massive manhunt in the tense Massachusetts capital worried by warnings the man was possibly armed with explosives. After announcing the arrest on Twitter, Boston police tweeted: “Captured!!! The hunt is over. The search is done. The terror is over. And justice has won. Suspect in custody.” (Snip) Police were alerted to his whereabouts by a man who went outside after authorities lifted an order for residents to stay inside during the manhunt. The man saw blood on a boat in the
There were few complaints at the Woodruff polls as South Carolina´s new voter photo ID requirement was enforced for the first time in Spartanburg County. The re-do election for mayor in Woodruff is the first Spartanburg County election since the photo ID requirement went into effect Jan. 1. The law requires voters to show a S.C. driver´s license, Department of Motor Vehicles ID card, voter registration card with photo, federal military ID or a United States passport to cast a ballot. (Snip) The law was passed in 2012 as a measure to combat voter fraud, according to proponents.
To the world beyond the Beltway, it might not mean much that Bob Woodward of the famed Watergate duo went public with his recent White House run-in. This would be an oversight. (Snip) Distrust of media, encouraged by alternative media seeking to enhance their own standing, has become a tool useful to the very powers the Fourth Estate was constitutionally endowed to monitor. When the president can bypass reporters to reach the public, it is not far-fetched to imagine a time — perhaps now? — when the state controls the message.
There are two stories circulating around Bob Woodward this morning. (Snip) But the White House also wanted the issue to disappear until after the election, so in conjunction with Congress it proposed (and the President specifically endorsed) an enforcement mechanism called sequestration. In exchange for agreeing to a package of $1.2T in cuts with no revenues as a failsafe, Republicans agreed to raise the debt limit high enough that it would not be reached until after the election. The significant point is that the trigger for sequestration was not the same date as the implementation date.
This breaking story is now on Breitbart: Ofa Email: Attack Congressional Republicans on Sequester First, let us revisit the description of Organizing for Action given to us this week by White House Insider: “Well just look under the slimy rock of his Organizing for Action group. The are all 501’nd up now and starting out with millions of donations and the single biggest voter database in the history of American politics. (Snip) It’s global. It’s tied in with the U.N., climate change, gun control, healthcare, taxation, global taxation, currency, education, poverty, hunger, they got every big name item involved
This just in from our Republican Insider, who has been very busy of late regarding the impending sequestration conflict that is being played out 24/7 by the Mainstream Media and the Obama White House. (Snip) Word of that compromise got out and reached the White House. I am guessing it was someone working for Reid who relayed that information. Regardless, it was the very next day that a staffer for one of the Senators working the compromise deal received word from Legislative Affairs to not under any circumstances continue to produce a compromise, or publicize any such deal.
The question all week long was this: Who are you going to believe, an illegal alien or the president of the United States of America? Obviously, if it’s a president who once went by an alias, Barry Soetoro, you go with Uncle Omar, 100 percent, no questions asked. And so it was that the White House finally admitted to another, uh, misstatement — despite previous denials, Barack/Barry did sleep on his beloved Uncle Omar’s couch in Cambridge when he first moved here to attend Harvard Law School (speaking of which, we’re still waiting to see the president’s grades and his LSAT scores). But the
More young men in California rise in pitch at the end of their sentences when talking, new research shows. This process is known as "uptalk" or "valleygirl speak" and has in the past been associated with young females, typically from California or Australia.But now a team says that this way of speaking is becoming more frequent among men.The findings were presented at the Meeting of the Acoustical Society of America in California. "We found use of uptalk in all of our speakers, despite their diverse backgrounds in socioeconomic status, ethnicity, bilingualism and gender," said Amanda Ritchart, a linguist at the University of
How do you get your arms around the catastrophe known as Obamacare? Is it even possible? At this point, I’m not sure it is. The list of individual disasters which threaten to ruin one-sixth of the U.S. economy and what has been, up until now, the best healthcare system in the world is exhaustive, and exhausting. The examples I will identify here barely scratch the surface. First but by no means foremost, we have the supposedly new and improved HealthCare.gov. Except it’s not, even the visible part. Stories still abound of people still failing to get in or to get through the enrollment
The National Highway Traffic Safety Administration has announced a new five-year strategic plan to improve safety for elderly drivers and passengers. Although they are statistically among the safest on the road, the number of older drivers is increasing dramatically — and with it, that group´s numbers of injuries and deaths. Since 2003, the population of older adults, defined as age 65 and older, has increased by 20% and the number of licensed older drivers increased by 21% to 35 million in 2012, according to NHTSA. Last year, NHTSA reported that 5,560 people older than 65 died and 214,000 were injured
Barack Obama did not tell the whole story this autumn when he tried to make the case that Bashar al-Assad was responsible for the chemical weapons attack near Damascus on 21 August. In some instances, he omitted important intelligence, and in others he presented assumptions as facts. Most significant, he failed to acknowledge something known to the US intelligence community: that the Syrian army is not the only party in the country’s civil war with access to sarin, the nerve agent that a UN study concluded – without assessing responsibility – had been used in the rocket attack. In the months before the attack,
Dr. Ezekiel Emanuel, the hapless, goalpost-shifting so-called "architect" of Obamacare, told Fox News´ Chris Wallace on Fox News Sunday that President Barack Obama´s promise "if you like your doctor, you can keep your doctor" was absolutely true--with one important caveat: if you like your doctor, "you can pay for it." Wallace grilled Dr. Emanuel, challenging his false claims that California´s enrollment was keeping pace with the percentage of the young population necessary to keep the system afloat, and pointing out that the president´s promise on doctors would collapse once people lost their insurance or their
President Barack Obama’s Facebook page on Saturday posted a message honoring the dead from Pearl Harbor—accompanied by a picture of Obama descending the stairs next to the Pearl Harbor Memorial. The picture barely fits the name of the Arizona Memorial so it can frame Obama in the foreground. The post´s statement reads: Today, with solemn pride and reverence, let us remember those who fought and died at Pearl Harbor, acknowledge everyone who carried their legacy forward, and reaffirm our commitment to upholding the ideals for which they served. President Obama The Obama Administration´s current shipbuilding plan shrinks the size of