Follow the money up the chain and it probably ends up with the corporate shareholders of a property company - that's the investment unit trusts and pension schemes of people like you and me. So yeah, I am.
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Apple Asks UK Retail Landlords for 50% Rent Cut Despite Record Sales
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Follow the money up the chain and it probably ends up with the corporate shareholders of a property company - that's the investment unit trusts and pension schemes of people like you and me. So yeah, I am.
More like, if you don’t want Apple’s deal, don’t take it 🤷♂️ Nobody is being “bulldozed”, you just made that up. There are no mafia tactics, are there?
I shed no tears for billionaire landlords, but why complain about a normal business process in any case? There is nothing wrong with negotiating early lease renewals, it happens all the time. Sometimes it’s the landlord who initiates it, sometimes the tenant.
As usual, the Apple-hate crowd shills are so desperate to find something to whine and complain about, but only end up proving how little they they understand business.
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I don’t know why you think Apple would care what the usual Apple-hate crowd on the MR forums are whining about. It’s not a factor.
Apple does care how they’re perceived, and they’ve correctly determined that there’s nothing at all to be concerned about in that regard.
Free to say no at what cost down the line?
Apple: “Make him an offer he can’t refuse.”
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Given their great turnover during the crisis, it might seem unreasonable for Apple to make this request, but they must have been losing money on their physical stores hand over fist. I wouldn't be very happy if I were a landlord, but at least Apple is offering lease extensions in return. Given the present state of retail and the commercial property market, they'll probably be tempted to accept.
It would be nice to see the back of Apple in the UK. They are providing zero economic and moral benefit to the British people and now they just want to leech even more.
A number of their UK retail locations are owned by pension funds for NHS workers. Apple knows this and despite not needing to they have decided to eat their dinner. You’ll recall Apple pays barely any tax in the UK to support the provision of the NHS, which in turn keeps their slave workers healthy.
Disgraceful but totally in keeping with the ethos of grand American capitalism killing its own life source and the current executive team’s bare naked greed.
Hopefully the ‘optics’ of Apple’s egregious business practices finally starts to turn the average Joe against them. They could be a great company but they simply aren’t and no-one can argue that they are. It’s about more than the bottom line; that’s the drivel Tim Cook endlessly drones on about.
A number of their UK retail locations are owned by pension funds for NHS workers. Apple knows this and despite not needing to they have decided to eat their dinner. You’ll recall Apple pays barely any tax in the UK to support the provision of the NHS, which in turn keeps their slave workers healthy.
Disgraceful but totally in keeping with the ethos of grand American capitalism killing its own life source and the current executive team’s bare naked greed.
Hopefully the ‘optics’ of Apple’s egregious business practices finally starts to turn the average Joe against them. They could be a great company but they simply aren’t and no-one can argue that they are. It’s about more than the bottom line; that’s the drivel Tim Cook endlessly drones on about.
They have debt because they were unable to transfer profits from other parts of the world back to the US without paying tax – it's cheaper for them to borrow and pay interest than it is to pay tax on earnings imported from other countries.
Do you shed tears when corporations are able to skirt paying their fair share of taxes? Legal practice, but shady at best.
I think you mistake what you call “Apple-hate crowd shills“ for people expressing their opinion on what is basically a scare tactic from the 800 pound gorilla - that would be Apple.
I shed no tears for two trillion dollar companies.
Like any group of people that we tend to lump together, there are probably some good ones mixed in...
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Apple has $245 billion in debt and liabilities too and their cash (or equivalents) are only $50 billions.
In fact, their short term debt and liabilities are $95 billions.
Which locations? Which pension funds?
I tried googling but all I could find was that The Crown Estate owned most of Regent St. (didn’t know that before - but not really relevant
)If you have any links on the NHS I’d be interested.
True, but pension funds buy all investments. Apple stock too.
Its not a scare tactic. A scare tactic implies you don’t really intend to follow through if you don’t get want you want
I know, but you can't just look at one side of the balance sheet to determine their worth.
Also, they have moved a lot of their profit back to the US since they all got a good tax break thanks to Trump and the Congress. So their deferred taxes are less than $30 billions.
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Which locations? Which pension funds?
I tried googling but all I could find was that The Crown Estate owned most of Regent St. (didn’t know that before - but not really relevant
If you have any links on the NHS I’d be interested.
You’ll likely not find a number of them in Google searches. Following the financial crash, there was a whole scale risk analysis done where government pension funds operated on a regional basis - for want of a better word - masked their investments as one of the findings was investment choices could be targeted by hostile actors.
which in sense is exactly what Apple is doing now.
Believe me I know people working with Apple as vendors. They are worst nightmare comes true for them. They are ruthless, heartless and very very demanding! You need to give $120000 to get $120 from Apple. They sure and suck every little juice in you! As a vendor you never make money out of doing business with Apple. It only helps your profile getting shined with the Apple as your customer but those who actually work will tell you horror stories!
Income inequality is probably much less now than in the 19th century.
It saw a drastic reduction from 1945 to 1979, an increase from 1980-1991 and in the last 30 years it has been somewhat stable over time.
How Has Inequality Changed? - Equality Trust
Levels of inequality changed dramatically over the course of the 20th century. Overall income inequality fell from a high point in the 1930s, remained fairly static until 1979, and then increased dramatically from 1979 to 1991. Since 1991, the trend has been more volatile, affected by Great...
www.equalitytrust.org.uk
Household income inequality, UK - Office for National Statistics
Main estimates of household incomes and inequality in the UK and how these measures have changed over time accounting for inflation and household composition.
www.ons.gov.uk
You don’t deserve a break when you post $60B profit for the quarter. It’s tacky and ill timed, from the worlds most valuable company. Pathetic really.
I looked at the wrong part of the balance sheet. It is in fact lower, $33.383 billions.
Their $193.817 billions (or rather $193.617 billions) is cash + marketable securities, such as stocks and bonds. I don't consider stocks and bonds as cash or equivalents. Also over $100 billions of the marketable securities are long term which means they are not easily converted to cash.
Where is the scare tactic? You think every landlord doesn’t already know a tenant may or may not renew?
A tenant often moves to get a lower price, especially with office or warehouse space. More often, their current landlord gives them a good enough deal to keep them from having to move.
And Apple pays exactly their fair share of taxes, but that’s a different discussion.
Long-term mainly refers to how long Apple intends to hold the securities, i.e. longer than one year. For instance corporate/government bonds with maturity dates over one year out (and that are expected to be held at least a year). But yes, even most of the Current market securities would not be considered cash equivalents.
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So, a deal that benefits the landlord as well as the tenant is leeching? Do you think there is no trickle-down from the landlord to the British people?
The reality of the optics of Apple is that...they produce products people want enough to send their valuation to $1T. They support the products they produce. They also strive to pay a little taxes as possible, like all of us. And maximize the benefits of their money, like all of us..within the laws of course.