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California Governor Gavin Newsom today unveiled a new business recovery task force intended to guide the state as it gets its economy back up and running as coronavirus shutdowns begin to ease in the coming weeks and months, reports CNBC.

timcooktokyonikkei.jpg

The task force will be co-chaired by philanthropist Tom Steyer and Newsom's chief of staff Ann O'Leary, and it will be composed of more than 70 members including Apple CEO Tim Cook and Disney Executive Chairman Bob Iger.

The task force will reportedly meet twice a month through the end of the year.

Cook's participation on the task force comes just after a virtual company-wide meeting for Apple employees where Cook outlined some details on the current situation and how things will likely evolve going forward. Cook reiterated that Apple is in a strong financial position and that it will keep investing in its research and development efforts "in a really significant way" as it seeks to maintain as much momentum as possible coming out of the crisis.

Note: Due to the political or social nature of the discussion regarding this topic, the discussion thread is located in our Political News forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Article Link: Tim Cook Named to California's Economic Recovery Task Force
 
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Z400Racer37

macrumors 6502a
Feb 7, 2011
709
1,661
"Business recovery task force?" You need a task force to figure out the best way to improve your economy is to get the hell out of its way? Stop strangling people with absurdly high taxes, and ridiculous regulations and regulatory agencies? Is it that difficult to figure out after all that history?
 
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Cosmosent

macrumors 68000
Apr 20, 2016
1,739
1,893
La Jolla, CA
Hopefully Cook tells Newsom that he recommends ALL public companies in CA should be Forced to Pay Off ALL their Long Term Debt BEFORE buying Back any more Shares, OR paying out any more Dividends !

And that Apple will lead the way by paying-off its $100B+ (USD) of Long Term Debt !
 
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citysnaps

macrumors 604
Oct 10, 2011
7,069
12,125
San Francisco
Good. Now leave Apple and stay in politics... It's what you've stuck your nose into for the past decade plus anyway.

I'm guessing you are not aware that Apple has around 37,000 employees in California. And that Tim Cook, being the CEO of Apple and responsible for those 37,000 employees, thus has a large stake in how California's recovery is handled.
 
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konqerror

macrumors 68020
Dec 31, 2013
2,298
3,693
Hopefully Cook tells Newsom that he recommends ALL public companies in CA should be Forced to Pay Off ALL their Long Term Debt BEFORE buying Back any more Shares, OR paying out any more Dividends !

And that Apple will lead the way by paying-off its $100B+ (USD) of Long Term Debt !

You're saying Apple needs to spend their money to reduce debt with the lowest interest rates, instead of reducing higher effective interest rates, or investing in their business. Right.

Do you also pay off your mortgage before your credit cards?
 
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Duane Martin

macrumors 6502
Oct 15, 2004
409
923
Calgary, Alberta
Hopefully Cook tells Newsom that he recommends ALL public companies in CA should be Forced to Pay Off ALL their Long Term Debt BEFORE buying Back any more Shares, OR paying out any more Dividends !

And that Apple will lead the way by paying-off its $100B+ (USD) of Long Term Debt !
And all Californians can be thankful that someone with your complete lack of knowledge of economics and money management is not on the task force. The world is a little more complex than you perceive it to be. "Debt is bad" is an ideology, not a practical rationale for managing finances.

"Business recovery task force?" You need a task force to figure out the best way to improve your economy is to get the hell out of its way? Stop strangling people with absurdly high taxes, and ridiculous regulations and regulatory agencies? Is it that difficult to figure out after all that history?
Speaking of history how did the U.S. deregulation of the banking industry work out for the entire world in 2008? And why do tax breaks always seem to benefit those who least need them and not the most vulnerable? If only it was all as simple as you imagine it to be.
 
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citysnaps

macrumors 604
Oct 10, 2011
7,069
12,125
San Francisco
Ideal job for Tim, not that we'd like you to leave Apple Timmey, but if you can let someone with a bit of product innovation ambition lead, consumers would benefit a bit more.

No worries, mate. Mr. Cook is doing a fine job leading Apple, as evidenced by the hundreds of millions of repeat customers who after considering competing products, open their wallets and pay premium prices for Apple computers and devices. Year after year after year.
 
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gnipgnop

macrumors 68000
Feb 18, 2009
1,542
1,868
"Business recovery task force?" You need a task force to figure out the best way to improve your economy is to get the hell out of its way? Stop strangling people with absurdly high taxes, and ridiculous regulations and regulatory agencies? Is it that difficult to figure out after all that history?

Consumers drive the economy in the United States. That's the largest segment. So when consumers lose their jobs at a record setting pace due to the federal government failing to act responsibly in the midst of a global pandemic, the economy goes into the toilet almost immediately. None of these CEOs have any magic wands to wave around. It just goes to show how little the CEOs contribute to economic health, despite their lavish compensation.
 
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now i see it

macrumors 603
Jan 2, 2002
6,326
13,023
Newsom clearly didn't think he was qualified to guide the CA economy back to functionality all by himself - so he hired a "team" to provide guidance. Good choice.
So once faced with this choice - finding a team - who is he going to appoint?
Certainly not the busboy or dishwasher at a diner, nor a working wage slave (who's probably been laid off).

If one is faced with building an "economic recovery team" for CA, his choices so far seem good.
 
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ryanwarsaw

macrumors 68030
Apr 7, 2007
2,731
2,429
Governor Newsom the only plan here is to get on your hands and knees and beg for money to solve this. - Timmy.
 
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nvmls

macrumors 65816
Mar 31, 2011
1,028
2,495
No worries, mate. Mr. Cook is doing a fine job leading Apple, as evidenced by the hundreds of millions of repeat customers who after considering competing products, open their wallets and pay premium prices for Apple computers and devices. Year after year after year.

Oh the numbers.. right, it's all about the numbers. Thank god people like Jobs existed, otherwise these moronic arguments would empower greedy corps even more than they currently are.
 
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magentawave

macrumors regular
Jun 8, 2009
180
5
A very smart and most excellent move by Gov. Newsom.

Well, that might be one good thing he will have done, but I live on the coast in Southern California and pretty boi psychopath governor Gavin Newsom has made it ILLEGAL to surf or swim, walk on the beach (and even walk near the beach in many areas), sit in your car near the beach and watch the sunset, and go out on a boat. Do those and you'll get a $1000.00 fine and possibly jail time. The guy is a menace as is the tyrant governor of Michigan and BOTH should be recalled and face imprisonment as well as the armed brainless goons that are enforcing this insanity.
 
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Cycom

macrumors 6502
Mar 27, 2007
482
696
Los Angeles, CA
tom steyer and timmy...these two clowns were made for each other.

maybe they can convince newsom to give even more money to illegals.
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Tim will try to help recover California's economy by building more stuff in China /s
Designed by apple in california. Made in wuhan.
 
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