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. @Scott Rose, I’m 100% with you emotionally. But a couple of points:
    1) I think that the lack of auto-download capability on the Mac is more on the side of the banking institutions, since some do auto-download like in the good ‘ole days, and some don’t. One of the largest U.S. banks use to work just fine until about 3 years ago they announced (in a whisper) that they would no longer be supporting auto-downloading on the Mac using Quicken.

    2) Mr. Campbells presence on the board may be all that is keeping Quicken on the Mac at all. (Just a wild guess on my part.)

    I stopped updating my Quicken every year several years ago, and I’ve noticed that whenever a “required” update comes out that Intuit sends my a new Quicken on CD for free, so…

  2. @Mr. Peabody:

    You may actually be right that Bill Campbell’s presence on the board is the only thing keeping Quicken & QuickBooks on the Mac at all.

    In the case of the financial institutions choosing not to support Quicken for the Mac, I read somewhere that this was due to Intuit’s decision to force the banks to use completely different sets of programming code for Windows vs. Mac, so most banks chose to save time & money by creating their auto-download features for Windows only. But this was totally a decision that was made within the walls of Intuit — they could and should make the backend programming code the same for both Windows & Mac users… from the bank’s perspective, at least.

  3. Tthought the crisis was over.

    Then I read it was over again.

    Then I read Jobs was cleared.

    So isn’t it over yet, or are they going to continue investigating over and over until they find anything, something on Jobs?

  4. ralph from berlin writes: “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”

    Actually, if they didn’t have that money “in the bank” right now, the stock wouldn’t be worth the $108 it’s trading at right now. So in a sense, you have access to your share of it right now in the value of your stock.

    Secondly, it is not literally “in a bank account.” Apple formed a wholly owned investment subsidiary to manage its assets and maximize its profits while ensuring the money is available to Apple should it need it.

  5. Opps. Forgot to close the italics properly…

    ralph from berlin writes: “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”

    Actually, if they didn’t have that money “in the bank” right now, the stock wouldn’t be worth the $108 it’s trading at right now. So in a sense, you have access to your share of it right now in the value of your stock.

    Secondly, it is not literally “in a bank account.” Apple formed a wholly owned investment subsidiary to manage its assets and maximize its profits while ensuring the money is available to Apple should it need it.

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