Apple Donates $2.5 Million to American Red Cross for Hurricane Sandy Relief

[samcraig]

Originally Posted by BaldiMac

I think it's actually an interesting question. My home was badly damaged, and I was without power/phone for a month after Hurricane Andrew in Miami in 1993. Given internet access and the ability to charge the device (big "ifs"), I think an iPad would have been worth more to me in that situation than the $300 or so that it would cost Apple to deliver it to me.

Communication, information, insurance website, ability to document damage, etc. would have all been more valuable than the cash. Even the entertainment value would have been important.

Worth more than food and shelter? I assume that's because you would still have it with or without the iPad. Because I would think if you lacked food or shelter - that would be more worth it.

[Vitrum]

Originally Posted by samcraig

Worth more than food and shelter? I assume that's because you would still have it with or without the iPad. Because I would think if you lacked food or shelter - that would be more worth it.

He can trade for food when need or exchange other services for food/shelter.

[samcraig]

Originally Posted by Vitrum

He can trade for food when need or exchange other services for food/shelter.

But will it have decreased value if it has water damage or a yellow tinted screen?

[Vitrum]

Originally Posted by samcraig

But will it have decreased value if it has water damage or a yellow tinted screen?

Oh no always a problem with tinted screens.

[BaldiMac]

Originally Posted by samcraig

Worth more than food and shelter? I assume that's because you would still have it with or without the iPad. Because I would think if you lacked food or shelter - that would be more worth it.

Sure. But I didn't lose money. I was insured. I lived on my screened in front porch for a month. I just had to drive 30-45 minutes for an unaffected area.

Obviously, food or shelter is a priority for people that lost everything, especially jobs for people living paycheck to paycheck.

[anjinha]

Originally Posted by Caliber26

I agree with what you said. $2.5M is nothing, compared to what they have in disposable cash. Hell, even Lady Gaga donated $1M and I'm sure her fortune is nowhere near that of Apple's. -- I've never criticized Apple, but this is sad. They could've done a little more!!

Originally Posted by tigres

Agreed.

Lady Gaga gave 1MM.

Lady Gaga doesn't have shareholders to answer to.

[MagnusVonMagnum]

Originally Posted by Hyper-X

Donated only $2.5 million? That's like Donald Trump donating 10 cents then making it a big deal all over the internet.

That was my point, exactly. Yes, I acknowledged at least they donated something under Tim Cook (Jobs only charity was himself and he made no bones about saying so from what I've read about the man), but given Apple's capital, it looks more like a publicity stunt than anything else. $2.5 Million is a complete PITTANCE by Apple in terms of cash on-hand. It's the equivalent of someone with $100k on hand giving $2.50 or an average person's income around $50k these days (and yes that is an average that includes all the millionaires figured into it so a "typical" person makes far less overall) of $1.25 out of their pre-tax income. Every bit counts, but it's not something to brag about and news sites carrying it doesn't help.

Now if Tim Cook personally donated that much, I'd be a LITTLE bit more impressed (and yes he can darn well afford it without hurting him a bit). But Apple? I bet they spent 100x that on their latest iPad Mini commercial alone. They reportedly spent $21 Million just to pay off the Swiss Clock lawsuit (not counting court/lawyer costs) and that was a pocket change decision (literally).

Originally Posted by osaga

Not enough? Apple has 100 billion in cash, 2.5 million represents .0025% of that.

If you have $100,000 in the bank, you should have donated $250.

You're right that it is 0.0025% in Apple's case (i.e. 0.000025 x 100 billion = 2.5 million), but 0.000025 x $100,000 = $2.5, not $250 (i.e. 0.0025% = 0.000025 decimal).

Frankly, the average household income is more like $50k a year (let alone cash on hand) and I think that's averaging in all those 1% millionaires and billionaires into the figure relative to population as well so the actual figure for the other 99% is much lower in reality (and that's INCOME, not cash on-hand!). Most people are in DEBT, not sitting there with $100k in the bank, so using Apple's "example" of what to give relative to cash on hand, I'm guessing "10 cents" isn't far off from reality for the rest of us. Thank goodness real people are FAR more generous than greedy corporations.

[Swordylove]

Originally Posted by osaga

Not enough? Apple has 100 billion in cash, 2.5 million represents .0025% of that.

If you have $100,000 in the bank, you should have donated $250.

Err that's $2.50

[jinxednuance]

THAT'S IT?!

Some people here are happy Apple paid this much. This is downright insult to humanity.

A company making THIS MUCH MONEY, and has THIS MUCH CASH donates ONLY 2.5 million is just retarded!

Michael Schumacher, who is a ONE PERSON, donated $10 million BACK IN 2005 to Asian countries and he's not even from there!

Apple, the American, donating 2.5 back. Wow.

[BaldiMac]

People do realize that Apple is a public corporation and not a private company, right? Giving away investor's money can be a justified business practice based on building goodwill among consumers. But there is a limit on the return of that investment.

If investors want to give away their own money, they can sell their stock and contribute to a cause of their choosing.

All of this talk of greed is just baffling.

[stu.h]

Originally Posted by Markiie

This is disgusting. 2.5 million for a company that has 100 plus BILLION in CASH! All you people saying its nice of apple have no logic for money and how much apple is really worth. You are talking about one of the biggest disasters in US History and apple throws a little 2.5 million dollar check on the table and says "ok we did our part"

Like someone mention earlier this is pennies. It's almost sad in the sense that most of the people who were effected own apple products and the best apple can do is 2.5 million? Yet they spent 3 BILLION to bail out Sharp a non US company?

Sorry guys you won't find a bigger fan of their products as me but their business motto and how they are starting to operate is really getting annoying.

Imagine if everyone on the planet donated the same % as Apple have, I'm sure that would be appreciated!

I'm glad you made the equivalent % donation yourself