Apple to hold shareholder meeting today

Apple Store“Apple will hold its annual shareholder meeting [today, 10am PT / 1pm ET] – but joy at its success across all business segments is likely to be tempered by ongoing anxiety over stock options accounting problems,” Jonny Evans reports for Macworld UK.

Evans reports, “All seven members of Apple’s board are up for re-election this year. As a protest against the company’s handling of its stock options crisis, some prominent investor’s groups are recommending shareholders don’t vote in the election.”

“The protest ‘no-vote’ is unlikely to see any executives removed from the board, but will send a clear message to company management that they need to resolve the options crisis,” Evans reports.

“Many shareholders will be happy with company management, as Mac marketshare climbs, iPod sales remain strong and anticipation at the release of the iPhone continues to climb,” Evans reports.

Full article here.

30 Comments

  1. Yes, my impressions were that we were nearing closure on this thing. After reading the article it rings just a bit of sour grapes. I wonder what kind of inside connections the outgoing CFO has with these major investing institutions. I’d sure like to get some real background on where this last minute surge of opinion is coming from.

  2. Is anybody here going to the Apple shareholders meeting today?

    If so, can you PLEASE stand up & ask Steve Jobs why in the HELL he is keeping Intuit CEO Bill Campbell on the Apple Board of Directors, when Bill Campbell has CONTINUED to deliver COMPLETELY SUBPAR financial products for Mac OS X?

    Even in the year 2007, Quicken & QuickBooks are absolutely horrible products on the Mac, and COMPLETELY pale in comparison to their Windows counterparts.

    Just a quick example:

    1. Quicken for Mac does NOT auto-download from MOST financial institutions for instantaneous downloading like it does in Quicken for Windows.
    2. Quicken & QuickBooks for Mac both feature less than 50% of the feature set of the Windows versions of these products.
    3. QuickBooks has no multi-user support, whereas every version of QuickBooks for Windows can be networked.
    4. Neither product supports a cross-platform file format so Windows users will actually LOSE MANY FEATURES & FINANCIAL INFORMATION upon switching to Macintosh, and the tedious export/import routine for QuickBooks still does not work reliably under any circumstances.

    These are just the top 4 issues off the top of my head, but obviously there are DOZENS UPON DOZENS more! There are no other real personal financial software alternatives for the Mac (with the exception of MYOB, which is okay for small businesses), so we are stuck with these subpar products from Intuit.

    And the only way that many Windows users can switch to the Mac is to end up using their Intuit product in Parallels or Boot Camp.

    All of this and BILL CAMPBELL SITS ON THE BOARD OF DIRECTORS AT APPLE!!

    I will not be able to make it to the shareholders meeting this week — can somebody please bring up this information at the meeting?

    As far as I’m concerned, Bill Campbell should be kicked off the board completely or step up to the plate and treat Mac users with the respect that they deserve.

    KICK BILL CAMPBELL OFF THE BOARD, ONCE AND FOR ALL!

  3. a stocksplit and please explain what you plan to do with the nearly 13 billion in cash. this is my money, at least part of it, as a stockholder. give it back to me or invest it in a useful way. just having it laying around at a bankaccount ist stupid.

  4. Don’t expect a stock split just because it happened around 100$ last time.

    As an investor in AAPL, I feel good that they have 13 billion in reserves. It allows for them to have some strategic flexibility for aquisitions of new technology and insulates them against a downturn in the economy.

    Plus, if they continue to grow and MS continues to flounder, they can eventually buy MS at a discount.

  5. Poor institutional shareholders – sitting on a stock which seemingly defies gravity because the management team have a strategy to develop innovative products and deliver them to a captivated audience.

    I could understand all this blather it if the share price was becalmed or if Apple hadn’t gone to the SEC with the information on a PRE-EMPTIVE basis: but these people are currently playing roulette with a company that is paying out with every turn of the wheel and has acted with complete probity once they discovered that there were anomalies in the way share options had been treated.

    Some people have no idea when to STFU!

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.