Carl Icahn to dine, discuss buybacks with Apple CEO Cook in September

“Apple Inc. Chief Executive Officer Tim Cook will meet for dinner with billionaire investor Carl Icahn to discuss the company’s strategy for buying back shares, Icahn said on a Twitter Inc. posting,” Adam Satariano reports for Bloomberg News.

“‘Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude,’ Icahn wrote today,” Satariano reports. “Icahn, who invested around $1 billion in Apple, has said he wants the iPhone maker to increase its buyback program to boost the share price.”

Satariano reports, “Icahn wants Apple to borrow $150 billion at a 3 percent interest rate to fund the purchases and avoid paying more taxes, a person familiar with his thinking said earlier this month.”

Read more in the full article here.

Related article:
Full Nasdaq trading resumes; Icahn to meet with Apple CEO Tim Cook in September – August 22, 2013

20 Comments

  1. Timmy Timmy Timmy….stay the f*ck away from Icahn, he is BAD NEWS, that leach don’t care about the future of Apple one bit, he simply wants to rob the cash and move on to the next victim, kinda like “hit-n-run” in poker jargon.

    1. On her way to work one morning
      Down the path along side the lake
      A tender hearted woman saw a poor half frozen snake
      His pretty colored skin had been all frosted with the dew
      “Oh well,” she cried, “I’ll take you in and I’ll take care of you”
      “Take me in oh tender woman
      Take me in, for heaven’s sake
      Take me in oh tender woman,” sighed the snake

      She wrapped him up all cozy in a curvature of silk
      And then laid him by the fireside with some honey and some milk
      Now she hurried home from work that night as soon as she arrived
      She found that pretty snake she’d taking in had been revived
      “Take me in, oh tender woman
      Take me in, for heaven’s sake
      Take me in oh tender woman,” sighed the snake

      Now she clutched him to her bosom, “You’re so beautiful,” she cried
      “But if I hadn’t brought you in by now you might have died”
      Now she stroked his pretty skin and then she kissed and held him tight
      But instead of saying thanks, that snake gave her a vicious bite
      “Take me in, oh tender woman
      Take me in, for heaven’s sake
      Take me in oh tender woman,” sighed the snake

      “I saved you,” cried that woman
      “And you’ve bit me even, why?
      You know your bite is poisonous and now I’m going to die”
      “Oh shut up, silly woman,” said the reptile with a grin
      “You knew damn well I was a snake before you took me in
      “Take me in, oh tender woman
      Take me in, for heaven’s sake
      Take me in oh tender woman,” sighed the snake

      More lyrics: http://www.lyricsmode.com/lyrics/a/al_wilson/

    2. He don’t need your advise.
      Tim is smarter then you and don’t forget he was selected by Steve Jobs. Steve probably don’t even want to talk to you.

  2. My favorite quote from the article: ” ‘Tim Cook is a little bit of an unknown quantity in these activist-investor games,’ said Erik Gordon, a business professor at the University of Michigan. ‘Steve Jobs was a known quantity — he wouldn’t even pick up the phone.’ ”

    I do find it disturbing that a single, outside investor seems to think he can pressure a CEO to make these sort of decisions. Icahn is no teeny-bopper who uses Twitter for fun means–it’s business and Tweeting something along these lines feels very manipulative. The stock will no doubt rise due to this Tweet (which Mr. Cook wants to keep shareholders happy) and then plummet if he responds with another unhappy Tweet.

    I think I’d have preferred the Steve Jobs method: ignore the 1 percenter and just continue to make great products.

    1. But if apple buys enough shares to make themselves the majority holder, they won’t be open to outside manipulation any longer. Knowing Steve’s desire for total control I think might have wanted to buy it all back and screw Wall Street. These buy backs may be the best thing for them long term

  3. You can already see the shift to a company that is becoming fixated on share price.

    Enjoy it while it lasts. This company will be shell of what made it great 10 years from now.

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