Print 32 comment(s) - last by BifurcatedBoat.. on Feb 14 at 3:56 PM

Cook said the board is currently discussing Einhorn's proposal, and even called it "creative"

Apple CEO Tim Cook called David Einhorn's lawsuit against the iPhone maker "a sideshow," citing the number of media and television interviews Einhorn has participated in since it was launched.

Einhorn, an American hedge fund manager, is suing Apple over a proposed change to the company's charter that would throw out Apple's ability to issue blank check preferred stock per its judgment. More specifically, the lawsuit opposes how this charter change is packaged together with two other proposals in "Proposal 2."

Einhorn wants Apple to open up its fat wallet of $137 billion in cash and issue prepetual preferred shares that pay dividends to existing shareholders.

Cook said the board is currently discussing Einhorn's proposal, and even called it "creative." However, Cook has called the lawsuit and the number of media interviews surrounding the topic "a silly sideshow" and said it's "bizarre that we would find ourselves being sued for doing something good for shareholders."

"This is a waste of shareholder money and a distraction and not a seminal issue for Apple," said Cook. "That said, I support Prop 2. I am personally going to vote for it."

Einhorn is the influential investor that pushed for Microsoft CEO Steve Ballmer's resignation back in May 2011. He said Ballmer was key in many of Microsoft's misses at the time, such as puchasing Skype for nearly twice its market valuation and missing the boat when it came to tablets.

Source: Reuters

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RE: LoL?
By inperfectdarkness on 2/13/2013 12:02:58 AM , Rating: 2
Apple's ever-increasing pile of cash says a lot more about the intelligence level of the average consumer than it does about good business acumen.

RE: LoL?
By slunkius on 2/13/2013 2:01:44 AM , Rating: 1
since you implicitly put yourself at above average level, i believe you are sitting on even bigger pile of cash. if apple can do it, so can you. that shouldn't be too hard for an above average person.

RE: LoL?
By karlostomy on 2/13/2013 2:12:05 AM , Rating: 3
Best thing to do when you see Tony trolling, is to downvote and ignore his post

He seems to get off on the reaction he gets from people.

I suspect he leads a lonely, frustrated and angry existence and this forum is where he passive aggressively vents the suppressed rage.

If he chooses to grow up and engage in meaningful and intelligent debate, then by all means, engage him.
But the majority of his posts seem trolling in nature.
Treat them as such.

RE: LoL?
By Tony Swash on 2/13/13, Rating: -1
RE: LoL?
By retrospooty on 2/13/2013 9:53:53 AM , Rating: 2
I would assert that regardless of your location and level of human contact, feeling the need to log in to a website and champion the honor and integrity of a company is more sad than all of the above.

It must hurt to know that this hurts...

RE: LoL?
By Rukkian on 2/13/2013 10:20:00 AM , Rating: 3
I actually enjoy talking to people that have a passion for a certain product, as long as they are reasonable and willing to have a true discussion. The reason you get downvotes and hostile responses is because you come off like one of the people that no matter what is, they will not see any faults in what they believe in and follow something blindly.

You are just like the people that say everything a democrat (or republican) does is completely wrong and the opposite party is always right. The world is not black and white, it is all different shades of grey. Every person, product, political party, etc has flaws.

If you were to even once admit that apple had a flaw or 2, you would get much better responses. When you simply post trolling remarks, all you will get in response is flames. This really does point to your need to make yourself fell better about a purchase and convert others to your church of (Steve) Jobs.

There are plenty of people on this site and others that like technology and are not married to one or another, do not blindly follow anything and like to keep up to date on new technology, and then discuss those advancements.

RE: LoL?
By Cheesew1z69 on 2/13/2013 10:28:25 AM , Rating: 2
This really does point to your need to make yourself fell better about a purchase and convert others to your church of (Steve) Jobs.

"Nowadays you can buy a CPU cheaper than the CPU fan." -- Unnamed AMD executive
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