“One of the business leaders President Obama called last weekend before he began his Southeast Asia visit was Apple CEO Tim Cook,” Philip Elmer-DeWitt reports for Fortune.
“The President met with a dozen CEOs last week to talk about the so-called fiscal cliff, and he reached out to four more over the weekend, including Cook,” P.E.D. reports. “The White House did not disclose the subject of their chat, but it’s not hard to guess.”
P.E.D. reports, “Apple, which has shipped almost all its manufacturing work to Asia, has lobbied heavily for a tax holiday that would allow it to ‘repatriate’ some the cash it has accumulated overseas — i.e. spend it in the U.S without having to pay federal taxes on it.”
Read more in the full article here.
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