Apple Releases Financial Results [political discussion]

Discussion in 'Politics, Religion, Social Issues' started by MacRumors, Dec 29, 2006.

  1. MacRumors macrumors bot


    Apr 12, 2001

    Today Apple released both its tardy 10Q (for 2Q 2006) and 10K (for fiscal year 2006) reports to the SEC. Much of the attention of the press release was placed on the continuing Stock Options back-dating investigation.

    According to the release, Apple found a total of $84 million in charges related to the case, which dates back to 1997, including $4 million in 2006 and $7 million in 2005. However, to put the issue in perspective, Apple's profits for 2005 and 2006 were $1 billion-plus each year, so the corrections represent less than 1% of Apple's profitability in those years.

    In addition, Apple's board expressed confidence in CEO Steve Jobs, who was recently in headlines regarding some of the backdated options he received but never profited from.

    Apple's stock has been traded heavily over the past few days, with the stock dipping as much as 6% before recovering on December 27th (Wednesday). As of this writing, Apple's stock is up over 5%.
  2. MrFirework macrumors regular


    Oct 18, 2006
    Denver, CO
  3. PlaceofDis macrumors Core

    Jan 6, 2004
    good news right?

    lets hope these issues get resolved quickly.

    yeah he's been on their Board of Directors for quite some time.
  4. MrFirework macrumors regular


    Oct 18, 2006
    Denver, CO
    Wow... learn something new every day... that's an inconvenient truth.

    I didn't think anything could make me dislike Apple (even a little)...

    ...label me "corrected".
  5. PlaceofDis macrumors Core

    Jan 6, 2004
    why would him being on the Board make you dislike Apple? they didn't add him because of his politics.


    and its been common knowlege since he was added, which was like 6 years ago (but really was almost four as i have been corrected below)
  6. AidenShaw macrumors P6


    Feb 8, 2003
    The Peninsula
    fact check....

    CUPERTINO, California—March 19, 2003—Apple® today announced that Albert Gore Jr., the former Vice President of the United States, has joined the Company’s Board of Directors. Mr. Gore was elected at Apple’s board meeting today.​
  7. PlaceofDis macrumors Core

    Jan 6, 2004
    okay almost four years. i stand corrected. thought it was a bit longer. :eek:
  8. kresh macrumors 6502a


    If they did not add him because of his politics, then what was the reason? His business accumen? His inventing of the internet? To appease GreenPeace and other enviromental groups?

    Of course it was because of his politics, he's done nothing else with his life.

    edit: I don't mean that as a negative. I think it was an intentional counter-move to Microsoft's obvious conservative bent.
  9. MrFirework macrumors regular


    Oct 18, 2006
    Denver, CO
    You're right, I'm sure they didn't hire him for his politics, but you can't separate them from such a political man. Being on a board means you have influence over the company.

    It's perfectly logical that I should be dissapointed to find this out. Maybe I should have known a while ago, but I didn't.
  10. dashiel macrumors 6502a

    Nov 12, 2003
    you might want to sit down for this, but steve jobs is a card carrying hippie, liberal who on several occasions has had bill and hillary clinton stay over at his house.
  11. SiliconAddict macrumors 603


    Jun 19, 2003
    Chicago, IL
    Hey! Who better then the father of the Internet to lead the investigation. :D ;)

    You say that as if its a bad thing. :p
  12. skunk macrumors G4


    Jun 29, 2002
    Republic of Ukistan
  13. dashiel macrumors 6502a

    Nov 12, 2003
    you are clearly one of those red/blue people who refuses to see beyond a person's political affiliation. al gore was instrumental in pushing the government to extend the internet beyond the scope of educational and federal access. while gore did not invent the internet, without him it would be very likely that the internet in its current state would be year behind where it is now. specifically the funding for MOSAIC was derived directly from a bill that he sponsored. MOSAIC was the very first web browser and later became netscape navigator.

    he also was influential in the national information infrastructure bill which saw the explosive growth of broadband throughout the 90's. something which i'm sad to say did not continue under the current administration. broadband in the united states has fallen so far behind asia and western europe it's not even funny.

    you may not like his politics and that's fine, but the sooner you and the rest of this country remove their polarized glasses the better off we'll all be.
  14. kresh macrumors 6502a


    hehe, you mis-read my post. All I said was that he was a politician. Everything you just mentioned was something he did as a politician.

    I just stated that's why they brought him on, not that I disliked the man or his politics.
  15. MacsRgr8 macrumors 604


    Sep 8, 2002
    The Netherlands
    Could be to some....

    I don't like it when major firms like these "pick sides".

    I love Apple, I adore Macs and Mac OS X, but I don't want to seem show any political preference becasue I bought a Mac. :rolleyes:
  16. w00master macrumors 65816

    Jul 18, 2002
    Well said dashiel. Well said. :)
  17. Sayer macrumors 6502a


    Jan 4, 2002
    Austin, TX
    Big surprise that Al "I created the Internet" Gore is doing CYA duty for his buddy steve.

    Al is the king of dirty campaign fundraising ("I had no idea that the Buddhist temple where I hung out and had drinks and got money was actually a fundraiser at all, I swear!") and has learned from Master Clinton how to not get caught.

    How can any person not understand something is fishy when the paperwork you review and sign has dates for stock options grants that are before the date someone was hired?
  18. BornAgainMac macrumors 603


    Feb 4, 2004
    Florida Resident
    Enough with the politics

    It looks like the mess is over with this scandal. It made some great press headlines. I want to see additional headlines about Apple in a more positive light in the future.
  19. w00master macrumors 65816

    Jul 18, 2002
    Al Gore, the "king of dirty campaign fundraising." Right.... Riiiight.... I guess Sayer forgot about our current "worst president ever" and his croonies. Then again, I guess Sayer is a bit BLIND to those issues.

    Sorry to everyone else about continuing the Politics stuffs, many apologies. I'm just tired of hearing the same cliched things about Al Gore. 99.99% of which turn out to be UNTRUE.

    Sorry again everyone.

  20. neven macrumors 6502a

    Oct 10, 2006
    Portland, OR
    No, you said,

    "If they did not add him because of his politics, then what was the reason? His business accumen? His inventing of the internet? To appease GreenPeace and other enviromental groups?

    Of course it was because of his politics, he's done nothing else with his life."

    He has served in Vietnam, worked as a reporter, written books and given countless speeches popularizing science, and has visiting professorship with five universities. He is the Vice Chairman of Metropolitan West Financial LLC, he chairs Generation Investment Management, and he's on the board of directors of Apple and a Senior Advisor to Google. He also never claimed to have invented the Internet.

    We eagerly await your list of lifetime achievements to compare to Mr. Gore's.
  21. KingYaba macrumors 68040


    Aug 7, 2005
    Up the irons
    It is nearly impossible to sepearte a man like Al Gore from his politics.

    I am having serious doubts many of you whom are defending Gore, would ever call to "look past his politics" or "get over your bias" if Dick Cheney were on the board of directors. :D
  22. whatever macrumors 6502a

    Dec 12, 2001
    South of Boston, MA
    And I challenge anyone to find the sound bite of Al Gore saying that he created the Internet, it doesn't exist, because he never said it. Not that this is a political forum, but isn't it funny how most everyone laughs at everything that comes from the Bush camp, but 6 short years ago everyone believe them when they claimed that Gore took credit for creating the Internet.
  23. MrFirework macrumors regular


    Oct 18, 2006
    Denver, CO
    For the record... I never wanted to politicize this whole thread, I know I was responsible for that, so to everyone I'm sorry.

    That said, I never called Al Gor, Steve Jobs or Apple et al "crooks" or anything of the sort.

    ... just for the record.
  24. mainstreetmark macrumors 68020


    May 7, 2003
    Saint Augustine, FL
    Just to provide a little more info on the "I invented the internet" thing:

    A poor choice of words, for sure. As previously stated, Gore's role in the internet was pretty much to provide the fundings to move it from the college geeks to the every-man. Without him, we might have to get our porn from the gas station, still.
  25. itcheroni macrumors 6502a

    Sep 23, 2005
    Enough with the politics folks. It's inane to simply write off Gore's position on the board as somehow political. He has a lot of sway but it would hurt Apple's business to convey the message that they support one political party over others. And there's no evidence anyone can offer that Gore's work with Apple has anything to do with the Democratic party. Seriously, get over it. This investigation has absolutely nothing to do with politics or even Gore. And unless you have information other than the stuff pulled out of your asses, get over it. This is the problem nowadays with people, they're completely inable to separate issues from parties/people. If I say I'm against capital punishment, people assume I'm a Dem; if I say I support businesses, people assume I'm a Rep. Can't people consider an issue on its own merits rather than a guilt by association mentality?

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