“Apple Senior VP of Internet Software and Services Eddy Cue joined the ranks of several executives looking to cash in company stock before the unknown results of the fiscal cliff are upon them,” Krystal Peak reports for Silicon Valley / San Jose Business Journal.
“According to a Securities and Exchange Commission filing on Tuesday, Cue sold off almost all of his current shares of AAPL common stock, amounting to roughly $8.76 million,” Peak reports. “Just one week ago, Apple’s Senior VP of Technologies, Bob Mansfield, sold 35,000 shares of the company stock valued at nearly $20.4 million, according to an SEC filing.”
Peak reports, “The two Apple executives cashing out is more of a reflection of the concern entrepreneurs and executives are having as they hear speculation of dividend rates skyrocketing… The biggest concern for those holding onto some high-ticket stock is that the dividend tax rate could revert to 39.6 percent for the highest tax bracket — something proposed by President Barack Obama.”
Read more in the full article here.
Related articles:
Apple stock takes hit; company’s refusal to issue special dividend ahead of looming U.S. tax hikes to blame? – December 5, 2012
Oracle accelerates payments of 3 quarters of dividends ahead of likely U.S. tax hikes – December 3, 2012
Analyst: Don’t expect special dividend from Apple Inc. ahead of Obama tax hikes – December 3, 2012
Apple’s Bob Mansfield cashes in 35,000 AAPL shares ahead of fiscal cliff – November 30, 2012
U.S. stocks fall over ‘fiscal cliff’ worries – November 27, 2012
U.S. wealthy dump assets amid ‘fiscal cliff’ worries – November 13, 2012
Fsck the Obama, u are the one to blame !!!!!!
Crawl back under your rock.
No, sir, you hide under yours ! This is what America voted for: the diminution of our economic and political power and the loss of our children’s future prosperity. Enjoy.
I’m sure glad we didn’t vote for the alternative! Why not leave the country now, or at least finish school- maybe start over?…
Why tax increases don’t work
Years of data from around the world show that when nations try to solve a fiscal crisis primarily by raising tax revenues, they tend to fail. In contrast, fiscal approaches based on entitlement reform and spending cuts tend to succeed.
In order to get serious about addressing America’s deficits in both money and opportunity, we have to deal with our real problem: Our government is too big and it spends too much. It is wrecking our economy and mortgaging our future. Worst of all, we are spending lavishly on the wrong things, threatening the integrity of the social safety net for the poor and real public goods such as national defense.
Our problems today are manifest: Out of control entitlement spending leading to unsustainable deficits; a lack of serious budgets (annual or long term); and a broken, loophole-ridden tax system. Increasing tax rates cannot and will not solve these problems. It is only a class warfare diversion, and it wastes valuable time.
Read more: Why tax increases don’t work
WTF does any of your deluded rant have to do with Apple, the Macintosh, computing or reality in general?
Ms Ayn Rand- high priestess of the Church of Mammon and patron saint of Conservabots everywhere died drawing Social Security and Medicare benefits as Lung Cancer had ruined her. I guess that made her one of the takers she so despised.
“WTF does any of your deluded rant have to do with Apple”. I see you do not own Apple stock and are clueless. My family lost over $70,000 yesterday with our Apple stock.
Think before you type or vote!
America has a long history of raising taxes to combat runaway debt. Even Reagan did it. The cost of WW2 was the equivalent of 12 trillion of todays dollars.How did we pay for that? Higher taxes.
How did Obama cause the Bush Depresssion? How is Obama a member of the Party of No? Whybwould not taxing billionaires save the economy? When did your mind snap shut?
Tax the entire population at 100%… And you can fund the US government for 3 months.
It’s spending NOT taxes dipshit.
Go look it up, multiple studies done on the 100% tax argument.
It’s not bush, O just won’t take credit for anything unless it makes him look good.
Dems of today need to listen to the dems of the past on tax/spending. You know JFK was saying the exact same thing the republicans are saying today.
Just too many people want a damn hand out instead of taking responsibility for themselves.
“O just won’t take credit for anything unless it makes him look good.”
And, if it makes him look bad it was because of a YouTube video.
But the top tax rate under JFK was 65%. America’s current debt problem was created by supply side economics which began under Reagan and the Bush recession.
Have anothe temper tantum together with you pitiful, pathetic sore losing, ks. Nothing wrong with paying taxes when you have been gaming the sytem in your 2% bubble.
Nothing will help you this time.
Why tax increases don’t work
Years of data from around the world show that when nations try to solve a fiscal crisis primarily by raising tax revenues, they tend to fail. In contrast, fiscal approaches based on entitlement reform and spending cuts tend to succeed.
In order to get serious about addressing America’s deficits in both money and opportunity, we have to deal with our real problem: Our government is too big and it spends too much. It is wrecking our economy and mortgaging our future. Worst of all, we are spending lavishly on the wrong things, threatening the integrity of the social safety net for the poor and real public goods such as national defense.
Our problems today are manifest: Out of control entitlement spending leading to unsustainable deficits; a lack of serious budgets (annual or long term); and a broken, loophole-ridden tax system. Increasing tax rates cannot and will not solve these problems. It is only a class warfare diversion, and it wastes valuable time.
More here: Why tax increases don’t work
When was the last time a Republican administration had a balanced budget?
When was the last time a Democrat administration had a balanced budget?
Uh, Bill Clinton did it. Several years in a row…
He even left office with a surplus! All wiped out plus trillions of debt created by the Bush administration, which Obama, for better or worse, is trying to fix.
LMAO another clueless right winger.
Stomp all you want, go ballistic, have a little temper tantrum- you have been trounced and by keeping your poison going you are only driving the kkks into oblivion in 2014.
Jerry springer pal, your only hope, find another rat infested hole to climb into, cant you tell you’re not welcome here?
Going to be a long 4 years.
Obama will never be satisfied until he has utterly and completely destroyed America. Everyone but diaper wearing raving libtards can see that Obama’s goal is to reduce America to a smoldering ruin.
What the [bleep] are you talking about? What smoldering ruin. The stock market is way up over 4 years ago. Corporate profits are higher than they’ve EVER been. There is no frontal assault on personal freedoms, and no action towards gun control at all.
So what the hell are you — and your fellow WND readers — talking about?
How did Obama cause the Bush Depresssion? How is Obama a member of the Party of No? Whybwould not taxing billionaires save the economy? When did your mind snap shut?
Obama was a US Senator… who said “NO” to debt ceiling limit being raised under Bush. Now the dip shit doesn’t want to play those games now that he’s Prez! Senator Obama also said putting debt on the Chinese credit card over 8 years to the tune of 4 trillion dollars, Obama said was unpatriotic. Yet, Mr. Mao of the Americas surpassed that and then some in only 4 years, so I guess that makes him unAmerican?! No???…
Maybe the Trillion dollars spent in Iraq and Afghanistan might have helped your economy out there.:)
You are absolutely correct in your assessment of the current situation. One man, filled with hatred for the United States, is on a death mission to make sure that America is brought to its knees, making sure that his rich friends all benefit and you, my friend, are left standing on the side of the road with your socks down to your ankles, wondering how did it ever come to this, remembering an America that never was, and scratching your head as you ponder that, yes, there are people who are dumber than you are. Yet, they never show their faces unless it’s right here on MDN.
Hiding behind the cover of selling to avoid higher taxes is a transparent lie. Apple execs know the company has become ordinary, living off the legacy of its deceased founder, and with nothing in the pipeline to excite the imagination nor the market. AAPL will never again see $700 and these guys are simply doing what you would expect – bailing at the peak and settling into a mode of riding the payroll for as long as it lasts for them. In the meantime, the rest of Apple’s faithful customers and hopeful investors just need to get used to reality.
Are you kidding? Nope, probably just a troll. Who wouldn’t want to avoid higher taxes?
Beyond the tax issue, those senior execs work damn hard. They earned every single one of those shares, and who are you to bitch if they get some material cash reward for their dedication, effort, and hard work? Are they just supposed to hold the shares forever and NEVER do anything with them?
And BTW, who knows if Apple will reach $700 or above again? If it doesn’t it will be a broader, macro world economy in the toilet thing, NOT an Apple has peaked and is on the way down thing.
We’ve been through at least two major economic slowdowns over 2 different political parties, and in very different political climates. Apple just keeps dumping cash into R&D to produce great products that people want to buy, when ‘Wallstreet business sense” has other companies pull back and coast, Apple goes great guns ahead. They won’t stop because of their stock price, and you are far dumber than the Analcysts if you think they will just roll over and die.
Of course, they’re NOT the Obama tax hikes. They’re the regular tax rates after the “temporary” Bush tax cuts expire, which they were originally supposed to do two years ago.
Personally, I think the top tax rate should be higher, and the tax on capital gains and “carried interest” should be higher, but that’s just me.
But if you want to “blame” anyone for the tax hike, blame George Bush.
“Blame George Bush.”
What a joke you fools are.
Told you so didn’t we?
Denial hate and selfishness will eventually destroy all o yooooos.
Again, sir, crawl back under your rock . . . for the simple reason that YOU are not affected by this “return” to the Cllinton tax rates, are you?! No, you are not. Taxing the “rich” is fine if you are NOT the rich, right? Screw them, nes pas? Well, sir, I have already canceled three home-improvement projects, potentially hiring at least a dozen “middle class” workers, informing them that they can thank Mr. Obama and the citizenry of this magnificent country for their electoral wisdom. Eat cake, America. You get what you deserve.
Oh i get it you’re punishing America because your tax rate might go up 3%. What a bad @$$ you are. Go on with you’re bad rich @$$. You f-ing clown.
Ok, so lets go back to Clinton era tax rates, but can we please also go back to Clinton era spending levels? At Clinton tax rates the government revenue ranged somewhere between 2.2 & 2.5 Trillion dollars a year, were expected to take in 2.5 Trillion this year in tax revenue and that’s at Bush level taxes. Answer me anyone with half a bit of common sense, why in the hell can’t this current government spend within it’s means? The CBO projects spending to go 4 Trillion a year in 2015 and again please explain where and how that is going to be paid for? Don’t give me the complete and utter bullsh_t that taxing the rich will pay for that, it will not. The fricking problem that our government has is a spending problem and they want to raise the debt ceiling to infinity, wow that’s real smart. So I guess if I make 50k a year I should spend 200K every year and then demand my neighbors pay for my extra 150K I’m spending every year. That is exactly what these fricking jerk weeds running the country are doing.
“A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship, then a monarchy.” – Alexander Fraser Tytler
America is great because she is good, and if America ever ceases to be good, America will cease to be great. – Unknown (often misattributed to Alexis de Tocqueville)
“America is great because she is good, and if America ever ceases to be good, America will cease to be great.”
Over 50 million babies killed via U.S.-sanctioned murder since 1973. And counting.
“America is great because she is good, and if America ever ceases to be good, America will cease to be great.”
Stomp all you want, go ballistic, have a little temper tantrum- you have been trounced and by keeping your poison going you are only driving the kkks into oblivion in 2014.
Find another rat infested hole to climb into, cant you tell you’re not welcome here?
It would be easy to go back to the Clinton spending levels if we didn’t have to now pay for bush’s presidency: a decade of tax breaks we couldn’t afford, and two wars (the longest in our history) he simply put on a credit card when congress would declare war. It’s expensive cleaning up after a dim criminal.
Yes 6 trillion in deficit spending in just 4yrs is a real good clean up. President downgrade, has brought us more than 10% unemployment, twice the amount of people on food stamps & welfare, a forced hell care bill that has increased health care costs and doesn’t insure anymore people than before. $4/gl of gas for the last 4yrs, lying straight to the face of the American people while letting 4 Americans ruthlessly die, because Al qaeda is no longer a threat and he can’t call a terrorist a terrorist. This president and the mentally challenged dumocrats can’t go back because they are morally and ideologically bankrupt in every way and have no intention of ever reducing spending. The mess they’ve made in just 4yrs we’ll be cleaning up for decades upon decades if our country even survives from the amount debt their putting us in. Yes Bush over spent by 5 extra trillion so the way to fix it is spend 6 trillion more in half the time than Bush did, yes that has put this country back on the road to success – clueless.
Tax revenue as a percentage of GDP was almost 21% under Clinton. Right now its about 15%.
So if the cap gains goes up from 15 to 20% they will pay 5% more so they dump AAPL that lost 6% today. I have to think there is more than the fear of a 5% tax, I wonder if sales projectios indicate a huge drop in the stock value. I have 1000 shares, and I am holding on. Of course I have been burned before. i still hold 6,000 ADI it went to $150 and today it bounes between $38 and $42.
All that needs done is the republicans agree to not give tax breaks the filthy rich and its done. Blame the republicans again.
Every single time that you hear Obama or one of his minions talking about taxing “the rich,” please remember that Obama is playing a game, manipulating the ignorant pawns who voted for him, or for “free” stuff, or food stamps, or for whatever handout or pet issue they think matters more than the short-term and longterm fiscal health of the country.
It’s very basic math:
Raising taxes on everybody in the U.S. making over making over $1 million a year to 30%, as Obama desires, generates $46.7 billion over the next 10 years (source: non-partisan United States Congress Joint Committee on Taxation). Or $4.67 billion per year on average.
The estimated $46.7 billion would reduce by 0.7% the $6.4 trillion increase in spending over the next 10 years estimated by the Congressional Budget Office, based on Obama’s 2013 budget plan. The 2013 budget proposed by the Obama administration stated that the “Buffett Rule” should replace the Alternative Minimum Tax. The Joint Committee on Taxation calculated that the Buffett Rule plus the repeal of the Alternative Minimum Tax would increase the deficit by $793.3 billion in the next 10 years.
The U.S. debt is currently $16.164 trillion. That’s trillion. With a “T.” Obama’s “plan” (class warfare) generates just $46.7 billion over 10 years (before you subtract the negative impact on the economy of job creators not creating as many, or any, jobs, or even deciding to leave the U.S. altogether).
Every single time that you see First 2014 post please remember that he is playing a game and manipulating the ignorant
So then Eisenhower,Kennedy and Nixon were down right communists then. All had much higher tax rates then what Obama is proposing.
This ‘fiscal cliff’ stuff is total hyperbole. Just a term created to scare people.
We’re headed for a fiscal crossroad, nothing more.
A slope at best…
After reading all the vitriolic comments on both sides of the political spectrum, it seems that Obama has successfully made the conversation about rich vs poor, and he is deflecting the focus off the real issue. How are we going to pay for this? Margaret Thatcher famously said: “The problem with socialism is that pretty soon you run out of other people’s money.”
If we put political parties and name calling aside for a sec. The problem is American has become too war and post war oriented (like having 1000s of troops in S. Korea! STILL 50ish yrs later!). War and policing are a major line item in our debt. We can’t keep up these expenditures and also expect to cover our US needs. BTW, whatever happened to our government stating the Iraq war would be paid for with Iraq oil?
The fact that our debt is at crisis level on Obama’s watch and he’s desperately trying to keep us a float doesn’t mean he’s unAmerican or any of the other names he’s called readily. Do I think he has the answer? Not a clue. No one does. And same for Romney. From what I’ve read before the vote regarding who’s financial plan was best, no one knew. Crap shoot either way. Howeverthot was pointed out that how many ex-Bush staff and advisors worked for Romney and how many of them fostered a war mentality and got us into all,our war related debt.
So now Obama inherited two wars that he appears to be trying to wind down, but those expenditures and the bank bail out and loss of revenue to outsourcing have really really hurt us probably more than we’re being told.
Is Obama a jerk trying to solve the economic problems? I don’t think any more than Romney would and the flak he’d be taking at some point. Regardless, the taxes coming in a few weeks are scary, but the politicos have been warning that payback has to and will come to us sooner or later. And here it comes… And it’s really a drag to see companies like Apple getting hit by sellers scared about taxes in 2013 as a result.