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Apple Donates $2.5 Million to American Red Cross for Hurricane Sandy Relief
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Maybe you don't realize that Apple has $121+ billion in CASH. That's not tied in with their market value, which is worth over $500 billion. So yes, they still do have $100+ billion.
I smell a court case between Apple+Samsung over who copied the other's idea to donate. Of course the same case would run in 20 countries around the world with each country giving a different decision.
In all seriousness though, it's good to see Apple making an effort to help out. They seem to be using their huge stocks of money to make a positive effect in the US hopefully they also start helping out internationally also. Apple does have enough cash to be of immense help to poverty stricken areas etc.
A good deed indeed. Complainers, please give it a rest. Apple, at one time, use to never give. This is something and it's for a good cause.
What a stupid comment. They didn't have to donate a single penny yet they donated two and a half MILLION dollars! Their net worth is totally irrelevant. $2.5m will make a LOT of difference to a LOT of people. You should be thanking Apple, not slating them.
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The stock is dropping like it did last year around this time before going to 700. Also the stupidity and ignorance of some users is alarming. Stock variations are not only related to products you know...
if Apple has 0 growth, they will reach 200 billion in money in a few quarters.
The fact that they are passing along 100% of donations through iTunes is probably costing them quite a bit of money as well. Credit transactions are expensive - especially when you're talking Apple having hundreds of millions of iTunes account to receive donations from.
It's not Apple's job to clean up this whole mess - they did what they felt they needed to do. $2.5 million is more money than I'll see in a long time, I salute them for giving at all!
Though I'll echo the sentiment of people talking about earlier donations, though not from Apple necessarily. I'm baffled as to why, knowing full well this super-storm was coming a week in advance, the federal and state governments didn't do more to stock up on the things these people currently desperately need. It just seems as if no one was prepared - when in fact they had plenty of time to prepare.
It's not Apple's job to clean up this whole mess - they did what they felt they needed to do. $2.5 million is more money than I'll see in a long time, I salute them for giving at all!
Though I'll echo the sentiment of people talking about earlier donations, though not from Apple necessarily. I'm baffled as to why, knowing full well this super-storm was coming a week in advance, the federal and state governments didn't do more to stock up on the things these people currently desperately need. It just seems as if no one was prepared - when in fact they had plenty of time to prepare.
I can only compare with what my company donated, and after scaling for company size, revenue, profit and cash, $2.5 million seems about right.
On the other hand, what did people donate to Haiti? While New York is nearer to many, Haiti had an earthquake that killed hundreds of thousands, made a million people homeless, in a tiny country that didn't have any spare cash in the first place.
$2.5 million is better than $0. Regardless of the amount, it's the act of donating that should be praised.
Lets demand that Apple stop world hunger, end unemployment etc too. How dare they have even one penny of profit.
Meanwhile how much has Microsoft etc given to anything.
You think, you don't know. Apple as a company may have given billions over the years, they just didn't talk about it.
Remember that until just under 2 years ago the company was run first hand by a known Buddhist. One of the biggest tenets in Buddhism is that an act of charity isn't an act of charity when you advertise you did it, then it is an act of ego.
Tim Cook has a different view about talking up, but it doesn't equal that they weren't doing anything. They just weren't talking about it
Not sure what you're asking (perhaps you didn't read the quote). My post was in response to Frayne's hypothesis that Samsung's $3M donation was a response to Apple's $2.5M. Kudos to both companies for supporting the region - but the timing doesn't seem to suggest Samsung is copycatting here.
I wonder how much money the red cross rakes in actually goes to the people that need it that they feature in their commercials....
I wouldn't doubt if more than 50% of donated money goes to shore up their books and to pay the "CEO" her massive salary...
I wouldn't doubt if more than 50% of donated money goes to shore up their books and to pay the "CEO" her massive salary...
I was being sarcastic the whole time. Not sure if it came across as that though lol.
I don't care if they donated $5. Donating is donating and all the power to them.
Maybe Sensation was referring to the choice of American Red Cross as the organization to manage the money, not to the fact that is was designated for Hurricane Sandy relief.
Lots of people who are generous with their own money won't give anything to the Red Cross because they don't like the organization.
It's more like me or you giving 2.5Million to the red cross for hurricane relief because that's what the american red cross received in this case. They don't care where it comes from and I'm sure the people getting the assistance don't ask so why should it matter what % of the donating company or individual's income it is?
How much did you donate?
I did the math and Apple's donation compared to their last yearly profit is the equivalent of the median U.S. household making a $2.70 donation. It's not a ton but I bet that's more than most Americans gave. My guess is that a majority probably gave nothing. It's certainly a couple orders of magnitude more than the mere pennies suggested.
Comparing the amount donated to Sandy to Apple's cash in the bank is a stupid way go about it. If Americans' giving we're compared to their life savings, most would be giving relatively little.
