“Growing from a scrappy underdog to one of the biggest technology companies on the planet with a huge base of loyal fans, Apple Inc. is looking for even more friends — this time in Washington,” Jim Puzzanghera and David Sarno report for The Los Angeles Times.
“The company, with a market value greater than that of Microsoft Corp., Google Inc. or Hewlett-Packard Co., is increasingly evolving from a computer maker into a multi-product international powerhouse and a major force in the entertainment and publishing industries,” Puzzanghera and Sarno report. “But Apple’s aggressive exploitation of its immensely popular iPhone, iPad and sprawling online marketplace for music and digital applications has raised the eyebrows of regulators and lawmakers, who worry the company’s dominance might stifle competition.”
“Such complaints are leading Apple to become more engaged in Washington,” Puzzanghera and Sarno report. “Since its dramatic growth began in 2003 — the value of its shares has skyrocketed to more than $300 billion from $2.5 billion — the Cupertino, Calif., company has more than tripled its federal lobbying expenses to $1.6 million last year.”
“In February, the company boosted its forces by hiring the high-powered Washington lobbying firm of Fierce, Isakowitz & Blalock. And Apple Chief Executive Steve Jobs has met with President Obama twice in the last five months, unusual forays into the political arena for the company’s co-founder,” Puzzanghera and Sarno report. “Those moves help Apple make its case to policymakers and regulators on issues that affect it, as well as help the company learn about potential problems and pending legislation before they become public. Still, Apple remains a surprisingly small-time player inside the Beltway.”
Read more in the full article here.
MacDailyNews Take: Work the system or the system will work you.
[Attribution: The Mercury News. Thanks to MacDailyNews Reader “Lynn W.” for the heads up.]