“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
Wonderful how big business is now apparently carried out through Twitter. Gotta appreciate the professionalism.
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.
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/
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.
Thankfully Tim Cook reads the comments at MDN to learn about the agenda of moguls like Carl Icahn…..
/s
Tim Cook: Can I buy back your shares? I mean all of them…
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.
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
If Carl Icahn dumped one billion dollars AAPL shares, Apple has 60 billions buyback. Apple is not in vulnerable situation.
iCahn is da’ iDebble.
Dealing with iCahn, Apple is halfway down the slippery slope. We’ll be running Windoze by this time next year.
Sell your shares now.
Sun Tzu (400 B.C.), author of On the Art of War,
Keep your friends close and your enemies closer.
If Tim Cook controlled the battlefield (the stock market), I would agree. He doesn’t.
I say take his advice. Use every penny Apple has in the bank and buy back every outstanding share.
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.
A Billion dollars for dinner with Tim? Makes a few hundred thousand for coffee with Tim look like a real bargain.
I am still a bit fuzzy on whether I.C. is a liability or God-sent for Apple. Any idea?
This should be christened the Steve Jobs test.
Does Tim Cook tell Ichan to go F*** himself or not.
Is it just me – or did Carl also pay $605,000 to have coffee with Tim Cook?
Hey Tim – let’s work on consistency.
“It’s probably better to have him inside the tent pissing out, than outside the tent pissing in.” Lyndon Johnson on FBI Director J. Edgar Hoover
Here we go folks – about the only good thing about iCon getting his cloven hoofed feet in the door at Apple is that it should finally put to rest any illusions about Tim Cook’s character or motivations. Wall Street loves this guy for a reason. Apple investors, customers, & fanbois alike, on the other hand, should all be very concerned.
Cooks going to start pissing away the cash that Apple accumulated under Jobs the same way they’ve been losing engineers. And neither is good for the company long term.
You watch.