“Nader began by criticizing Apple for executing its $100 billion stock buyback in May without asking shareholders their opinion beforehand,” Silver reports. “‘It could have been used to increase employees,’ Nader said. “It could have been used to shore up the pension fund. It could have been used — two percent of it to double the income of the serf laborers, 1.3 million Chinese laborers in the contractor that builds the iPhones.”
Silver reports, “Nader continued. “‘It could have been put in productive investment, it could have been put in research and development. It could have been sent to cash dividends, back to the shareholders. But no.'”
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MacDailyNews Take: It could’ve been used to bottle unicorn farts which could’ve then been used to launch pies into skies all around the planet. But no.
Ralph Nader’s open letter to Apple CEO Tim Cook demands suspension of $100 billion buyback plan; instead wants Apple to pay full year’s pay bonus to Foxconn workers, rec centers across the U.S., and more – May 12, 2018
Ralph Nader to Apple CEO Tim Cook: Pay other companies’ workers double and cut their hours in half – October 24, 2014