In his “BYTE OF THE APPLE” column for BusinessWeek, Technology Editor, Alex Salkever outlines “why Apple shouldn’t vote for Gore.”
“The failed Presidential contender is a business novice whose board nomination raises more questions about Apple’s governance. In The Global-Investor Book of Investing Rules (Financial Times Prentice Hall), shareholder activist and gadfly money manager Robert Monks, with tongue planted firmly in cheek, coined a new rule for investors: Short the stock of any company employing a former Tennessee senator on its board. After all, Albert Gore Sr. sat on the board of oil giant Occidental Petroleum (OXY ) during a period of corporate misdeeds back in the 1960s. Former Senate Majority Leader Howard Baker of the Volunteer State was on the board of Waste Management (WMI ), another troubled outfit. Construction concern Stone & Young had on its board ex-Tennessee Senator Fred Thompson. It declared bankruptcy soon after his tenure.”
“Now comes 2000 Democratic Presidential nominee Albert Gore Jr., another former Tennessee senator, who has accepted nomination to Apple Computer’s (AAPL ) board of directors. If past is prologue, Apple shareholders better keep their eyes open and their ears peeled.”
Full article here.