|Authored by: Tolerance on Thursday, November 01 2012 @ 05:29 PM EDT|
|In "The soul of a new machine" Tracy Kidder pointed out that |
stockholder opinion caused some quite strange behaviour. The
prison-like Data General building, in particular, was
designed to impress on investors that the company would not
accumulate a crippling load of debt.
Apple is almost unique among US companies in that it has no
debt. At all. It is not vulnerable to the likes of Mr Icahn.
Nor does it need to take stockholder opinion into account
because the officers have over 50% of the shares.
Even if it did, the stockholders would approve of this legal
brinkmanship, because any conceivable contempt fine, even
ongoing, would be a pinprick. In fact, I would expect Apple
to include it in the "PR" budget (one more finger to the
Grumpy old man
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