“Apple isn’t taking any chances with senators looking to embarrass CEO Tim Cook on Tuesday at a hearing on the tech giant’s offshore $100 billion stash,” Anna Palmer reports for Politico. “Monday night lawmakers were already gearing up, unveiling a report that alleges Apple avoided paying taxes on $44 billion in offshore, taxable income.”
“A Senate panel says Apple did not break the law but did find a new way to limit its tax burden — three of its subsidiaries in Ireland do not pay income taxes to any country,” Palmer reports. “To deal with the nasty optics, Apple has turned to a top Washington law firm for help, O’Melveny & Myers – veterans at trying to keep big companies out of trouble, like Enron, Ford and Goldman Sachs.”
“Firms like O’Melveny & Myers work closely with committee investigators to track down what CEOs can expect to face. And they try to limit the scope of the investigation before the hearing even takes place,” Palmer reports. “Apple has also sent its own hired guns to Capitol Hill for recon duty. Their mission: find out the planned line of questioning and expose any surprises senators plan to air. Meanwhile, Cook and two other top execs are doing their homework in Apple’s Washington office, which has become ground zero for the company’s preparations.”
Read more in the full article here.
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