Nobody on U.S. Senate committee laid a glove on Apple CEO Tim Cook

“It was with some trepidation that Apple investors tuned in to C-Span.org Tuesday morning to watch Cook’s appearance before the Senate’s Permanent Subcommittee on Investigations, which had conducted a detailed probe of Apple’s offshore tax havens,” Philip Elmer-DeWitt reports for Fortune. “But those nervous Apple investors needn’t have worried. Cook’s testimony was calm and precise, and when it was over, nobody had laid a glove on him. The senators, for their part, were mostly respectful — and on occasion fawning.”

“Claire McCaskill (Dem., Mo.) couldn’t say often enough how much she loved Apple. Ron Johnson (Rep., Wisc.) praised the company’s tax minimization strategies as shareholder friendly. Rob Portman (Rep., Ohio) only wanted to talk about his tax reform proposals. Rand Paul (Rep., Ken.) thought the committee owed Apple an apology. John McCain (Rep., Ariz.), after a bout of tax dodging rhetoric, wanted to know why his iPhone was constantly updating its apps,” P.E.D. reports. “Even Levin was having a hard time getting up a head of righteous steam. Working from staff-prepared notes (and whispered instructions) on material he didn’t seem to have mastered fully, he was left, at the end, with no choice but to filibuster.”

Read more in the full article here.

MacDailyNews Take: Yes, it did go rather swimmingly. Mission accomplished, Tim & Co.!

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41 Comments

  1. Cook did a terrific job, answering all questions informatively, politely, calmly and very effectively. Rand Paul’s defense of Cook and Apple, while very appropriate, in the end was relatively unnecessary. Cook didn’t get drubbed as many thought he would. Only the stock did 8-/

    1. Perhaps the favorable tenor of the meeting was due, in part, to Ron Paul’s statement early in the proceedings. I chuckled to hear how “shocked” McCsin and Levin were to hear this. It was like Nixon denying Watergate.

      1. FWIW, that waw Rand Paul, Ron’s son. And McCain took umbrage at Paul’s recognition that, in fact, the tables should be turned and Congress – not Apple – should be in the hot seat for promulgating the crapwork ta code.

    2. All 3 of the Apple representatives stayed far cooler than I ever could have with all those false accusations flying and with that fat windbag puking up false statements then asking (demanding) Tim & Co. to agree to the statements and not allowing them to ANSWER in defense that his statements were twisted versions of the truth. I was so angry watching it. I’d probably yelled stuff at the computer screen if I wasn’t at work.

      1. Have to totally agree. Sen. Levin really got on his high horse at the end but he kept associating Apple’s IP with its hardware… He stated that Apple’s IP was its crown jewels and that had been shared with Apples overseas company so why was the profit made from it not brought back to the USA. ??

        Apple does not sell IP. They sell hardware. The hardware made in China. Sold to Europe…. Profit stays overseas.

        Sen. Levin showed what an a** he is and how he totally does not get it. I am just glad I did not vote for the idiot.

    1. Totally agree about Levin. He rambled at the end saying Apple IP was what was sold in Europe. No, Apple sells Hardware and makes profit on hardware. Apple IP is shared with its overseas company so that its allowed to sell Apple hardware. IP is NOT sold overseas, only hardware.

      Levin, just rambled about how since its Apple’s IP, Apple should pay taxes in America for hardware sold in Europe.. Over and over…. what an idiot.

      Just my opinion and sadly Mr. Cook either did not pick up on the comment or thought it better to leave it alone.

      1. Levin was left to make his usual self-aggrandizing remarks at the close of the hearing, when no-one was able to rebut them or point out their falseness. Typical of politicians of all persuasions in this country. As Senator Norm Coleman said after losing badly to British MP George Gallaway, “I had one goal and it was to make a record.” (Levin was in that hearing too.)

        Cook did well – he did not rise to any of the bait and he stayed calm, and pleasant throughout. Pompous politicians hate that.

        1. He really is a dick! Sort of a caricature of what you think of what a bad politician would look like. Like something out of a movie. Probably an Oliver Stone movie.

  2. If you have money, govt will come after you for their “share”.
    Congress should close their “loophole” and cut wasted spending first, make lobbying illegal.

    Try pausing the war for a month, that will pay off a lot of debt.

    I thought congress was elected as public servant?

  3. Can you imagine Ballsmear or GatesofHELL being drilled by these guys? It would be a circus of “what are they talking about”. TC and Co, very professional, smart, articulate, factual, to the point with no BS. The committee sees that and backed off!

  4. Why did McCain keep trying to get the APPLE Representatives to recant what they already said ad naseum? The Apple reps need to be given purple hearts for having to face and respond to these bullying questions by so-called Congressmen.

    Even C-Span eventually pulled the plug on them while the same stupid questions were being asked over and over and over….

  5. This was a well-orchestrated hearing.

    Levin presented the side that Apple, while it paid all of its taxes and did nothing illegal, should pay more money to the government.

    Paul pointed out that the tax code is a mess and needs major overhauling.

    Faltering governments in Europe, France comes to mind, will press for higher tax rates on multi-nationals like Apple, others. My take is that today’s testimony is a shot across the bow of government-backed demonization of successful firms. We’ll see.

    1. The entire Apple team present did very well. Levin tried the typical lawyer tricks, focus on a small issue, get them to admit to that issue, then tie that issue into something larger and sinister. He failed miserably because he has not idea how Apple makes it’s money. I realize Apple is the largest corporate tax payer in the USA, but why not bring in noted tax avoiders like GE or some of the big multinational oil companies based in the US? Well-orchestrated is right, I wonder how many Google, Microsoft, and Samsung lobbyists have made “contributions” to some of these senators election campaigns in the past?

    2. All that Levin did today was to give me and every other Apple shareholder a strong incentive to make a campaign contribution to whoever runs against him the next time he’s up for re-election.

      -jcr

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