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Carl Icahn files Apple shareholder proposal seeking increase in share buyback program - Page 2

post #41 of 69
Icahn is just a greedy Billionaire, IMHO. I'll await the Apple Board's recommendation on this proposal and follow that. They've been doing just fine without the invaluable input from Carly.
post #42 of 69

Icahn Haz No Brainz

post #43 of 69

Icahn should go invest into AMZN and then try pushing Bezos around like he is trying to push Cook around.  Now, that would be entertaining. 

"Building for the future?! They should be running around reacting to the present!" -John Moltz
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post #44 of 69
Quote:
Originally Posted by Landcruiser View Post

Icahn is just a greedy Billionaire, IMHO.

IMHO, I don't think you become a billionaire unless you're a tad greedy. (I am not talking about inherited billions).

post #45 of 69
I'm a long time AAPL shareholder and I do want to see Apple put their cash to good use. Not to prop up the stock price though - that's not what Apple's all about. They should use it to expand their R&D. Use that money to develop ground-breaking advances in technology that are leaps and bounds beyond the competition. Carry on Steve Jobs' vision of changing the world. THAT's the AAPL I want to own.
post #46 of 69
HEADLINE: Obnoxious Investor Carl Ichan Accidentally Slips on Ice, Dies
COPY: Bigmouth rich-guy Carl Icahn was found dead on the sidewalk in front of his fancy home. Officials determined the cause of death to be from blunt-force trauma to the back of his giant head, assumed to be the result of "slipping on the ice on the sidewalk in front of his fancy home." There were no witnesses. No further investigation is pending, as no one asked for any. The world continued to exist, many believe in a better state.
post #47 of 69
Quote:
Originally Posted by anantksundaram View Post

Actually, I think that's a GREAT idea. I am going to explore this some more with some corporate lawyers and CFOs to find out why (if?) this cannot be done.

Is that you Tim?

BTW Willing to volunteer for extra dividends if anyone needs a test case. 1smile.gif
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post #48 of 69
Quote:
Originally Posted by anantksundaram View Post

IMHO, I don't think you become a billionaire unless you're a tad greedy. (I am not talking about inherited billions).

I always would have preferred the inherited kind I must admit. Less guilt, less enemies and you are used to it by the time you are dating.
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Been using Apples since 1978 and Macs since 1984
Long on AAPL so biased. Strong advocate for separation of technology and politics on AI.
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Been using Apples since 1978 and Macs since 1984
Long on AAPL so biased. Strong advocate for separation of technology and politics on AI.
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post #49 of 69
"He adds, however, that "Apple is not a bank." "

Well then please stop trying to turn it into your own private piggy bank.

We get it. Your exposure on AAPL is somewhere around $450/share and you're kicking yourself. Suck it up and stay for the long haul like actual investors do. Let Apple spend its reserve on things (*cough* topsy *cough* primesense *cough*) that will put you way past $450 if you'd just have the patience the good lord gave a golden retriever.
post #50 of 69
Does Apple management think that their stock is not a good investment?
Do the officers get to buy, before the company does? Sounds like insider trading
post #51 of 69

so... apple has too much money.  but this guy does not have enough?  if you are a billionaire and want more money- stfu.  if you cannot be bothered to spread your wealth- do not expect others to.

post #52 of 69

something wrong about a guy who invests 2% and expects to control what Apple does with the other 98%.

2% buys you a lunch with Tim.  Not a seat on the board.  Ante up or shut up.


Edited by snova - 12/4/13 at 9:30pm
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post #53 of 69
Quote:
Originally Posted by 9secondko View Post

Meanwhile, Mr. Icahn was ousted from a video game company that he was somehow on the board of.

And that company has been very public about how happy it is that he is gone.

Also, he lost his fight to control Dell. He's really on a roll.

Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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post #54 of 69
Quote:
Originally Posted by AppleInsider View Post

Billionaire investor and financial activist Carl Icahn has filed a shareholder proposal with Apple, seeking support for spending even more of the company's cash reserves on its own shares.
"Apple is not a bank." - Carl Icahn

"but I intend to do everything I can to get as much money out of them as possible!"
post #55 of 69
Quote:
Originally Posted by Flabingo View Post

Does Apple management think that their stock is not a good investment?

Do the officers get to buy, before the company does?

They can buy just like you can buy.
However, they are not allowed to buy if they know something is going to happen that may drive the price up/down that you (the public) don't. That is insider trading.
post #56 of 69
This Icahn guy holds barely half a percent, he should be ignored until he puts up a serious stake.
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post #57 of 69
Quote:
Originally Posted by TBell View Post
 

 

You do not have all the details. Apple has already committed to buying back 100 billion of its stock. This is on top of the dividend it pays. Carl wants Apple to commit to spending the rest of its war chest on buying back its shares. That is ridiculous fo a few reasons. Apple's war chest allows it to do things like go buy billion dollar companies, and prepay for components which gives it tremendous leverage. 

 

No.  Apple is buying back $60B and $40B in dividends for a total of $100B returning to shareholders.

 

Ichan is not asking for Apple to spend all their cash.  Right now they have about $150B in cash.  They generate $50B free cash flows a year.  So basically they would still have $150B at the end of 2014 with a $50B buyback.

post #58 of 69
Quote:
Originally Posted by woodycurmudgeon View Post


So much of this post is inaccurate I don't even know where to start. 1oyvey.gif

 

Please tell me what I got wrong?

 

$60B buyback by 12/31/2015

Bought back about $20B already

Ichan is asking for $50B in 2014

 

Please enlighten me, not being sarcastic

post #59 of 69
Quote:
Originally Posted by sog35 View Post

Please tell me what I got wrong?

$60B buyback by 12/31/2015
Bought back about $20B already
Ichan is asking for $50B in 2014

Please enlighten me, not being sarcastic

"Ichan"? I-"chan"?

Oh, my. Even the spellchecker catches this misspelling.

Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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post #60 of 69
Quote:
Originally Posted by Chris_CA View Post

Quote:
Originally Posted by Flabingo View Post

Does Apple management think that their stock is not a good investment?

Do the officers get to buy, before the company does?

They can buy just like you can buy.
However, they are not allowed to buy if they know something is going to happen that may drive the price up/down that you (the public) don't. That is insider trading.

I believe officers have to announce their intentions before buying/selling. As for insider trading, officers (and those in the know) can't buy or sell within two days after a public announcement.
post #61 of 69
All he is trying to do with this is stay in the headlines. I don't think that clown is actually dumb enough to truly believe he would get anything more than 5-7% of yes votes. Thats what historically happened on those kind of proxy votes.
post #62 of 69
Quote:
Originally Posted by Tallest Skil View Post

Icahn’t believe he won’t shut up.

Icahn.
post #63 of 69
Quote:
Originally Posted by virtua View Post

Icahn - lol

He thinks he's an Icohn for the shareholders.
post #64 of 69
Quote:
Originally Posted by anantksundaram View Post

IMHO, I don't think you become a billionaire unless you're a tad greedy. (I am not talking about inherited billions).

Indeed, like you don't become an entrepreneur unless you have a bit of drive, or like how Steve Jobs wouldn't have invented the iPhone without a little bit of vision.
post #65 of 69

You think Icahn would try this if Steve were still around?

Nope.

post #66 of 69
Quote:
Originally Posted by planet36 View Post

You think Icahn would try this if Steve were still around?
Nope.

How many shares did crazy Carl have when Jobs was alive?
post #67 of 69
Quote:
Originally Posted by jungmark View Post


How many shares did crazy Carl have when Jobs was alive?

I don't know.

My point is that Icahn is a bully, and he wouldn't even consider trying to push Steve around.  Hopefully Tim shows he has a backbone so Icahn backs off.

post #68 of 69
Quote:
Originally Posted by planet36 View Post

My point is that Icahn is a bully, and he wouldn't even consider trying to push Steve around.  Hopefully Tim shows he has a backbone so Icahn backs off.

I don't think it has anything to do with backbone. I think it has more to do with cash. Back in 2009, they had $34b in cash, which would have seemed like a reasonable reserve to maintain for growth opportunities and exclusive purchases/buyouts. In 2010, it grew to $51b, then when Steve died in 2011, it was $82b. At this point, it became clear that they were amassing cash at a far higher rate than they could spend so it was only after Steve that there was any incentive for outside investor looting. By 2012, it was $120b and 2013 is $147b (they spent $10b in share buybacks).

There is a perception with some people that when Steve was at the company, it was in good hands because of the transformation when he came back to Apple and now it's just a money-making conveyer belt. That leads them to give Tim less respect than he has earned but as he's demonstrated many times now, he's a very confident and calm person. When he was called before the subcommittee, he took it in his stride. The people beside him were all sweating and nervous but not Tim.

Icahn's just a money-grabbing weasel. He sees pots of money and wants it for himself regardless of what state it leaves the company in. He claims to promote successful businesses but his history says otherwise. He pretty much readily admits it here:

http://www.reuters.com/article/2013/10/22/us-usa-stocks-netflix-idUSBRE99L1MO20131022

He sold his shares in Netflix now that they've turned an $800m profit for him. He contributed literally nothing to Netflix but in 14 months, he made more than Tim Cook has. Tim's getting up at 5am, putting in the hours, managing a company. Icahn is just putting bets down. Icahn's assets are now listed as around $29b. Icahn is 77 so it's not clear what he's going to use it all for. It looks like he'll pass it onto the next generation to control:

http://www.forbes.com/sites/tompost/2013/05/21/carl-icahn-on-how-to-bring-your-kids-into-the-business/

Not bad being handed $3b to play around with at the age of 33. Icahn's company deals with over 60,000 employees and primary revenue is from transport and energy. Most of the employees appear to be in Federal Mogul, which Icahn took a majority stake in:

http://www.federalmogul.com/en-US/FAQ

It's all investment and ownership. Buying up the company shares, pushing for the company to generate the profit and then taking the winnings. He'll dump Apple shares as soon as they've paid off just like he did with Netflix.
post #69 of 69
Quote:
Originally Posted by Marvin View Post



Icahn's just a money-grabbing weasel. He sees pots of money and wants it for himself regardless of what state it leaves the company in. He claims to promote successful businesses but his history says otherwise. He pretty much readily admits it here:

That's something I don't really understand. He can buy whatever he wants at this point, as that amount is basically unspendable. Why hurt other businesses in the ongoing process? I really do hate vultures. On the up side, perhaps one day he will donate his beard to science.

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