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Apple forms Braeburn investment firm to grow its cash

post #1 of 27
Thread Starter 
Apple Computer has formed a new company to manage its swelling cash reserves and short term investments, public documents have revealed.

According to a BusinessWeek report, Apple has incorporated Braeburn Capital, an asset management company based in Reno, Nevada and has placed "help wanted" ads, looking for financial officers to help the company grow its cash. They seek a senior and junior financial officer who would report to Chief Financial Officer Peter Oppenheimer and Apple's board on a quarterly basis.

The new company -- which is named after a variety of apple that's uniquely sweet and tart -- will be a vehicle for managing Apple's investment portfolio and wil help the company avoid certain California state taxes, according to the report.

By incorporating in Nevada, Apple reportedly hopes to shield itself from certain taxes imposed by the state of California.

"Apple's cash reserve has nearly doubled over the last two years. At the end of 2005, Apple had $8.7 billion in cash and short term investments, about 15 percent of its market capitalization," wrote BusinessWeek. "That's up 91 percent, from $4.6 billion, at the end of 2003. And it compares with much bigger rivals like Dell, which reported $9 billion in cash and short-term investments for the quarter ended February."

An Apple spokesman told the publication that Braeburn, a wholly-owned subidiary, will function as a regional treasury office, on par with existing offices in Cupertino, Singapore, and Cork, Ireland, but declined to comment on the tax implications or elaborate on Braeburn's investment plans.
post #2 of 27
No coincidence that it's named after an Apple, since most of that cash will be going to Apple Corps pretty soon anyway.
post #3 of 27
Quote:
Originally posted by BRussell
No coincidence that it's named after an Apple, since most of that cash will be going to Apple Corps pretty soon anyway.

So what's up with that whole crap trial? I haven't heard anything for about a week.
post #4 of 27
Quote:
Originally posted by crees!
So what's up with that whole crap trial? I haven't heard anything for about a week.

Judgement is due sometime between Easter and the end of the month
post #5 of 27
Braeburn? What? 'The Pink Lady Fund' or 'Granny Smith's' Investment Corporation wasn't businessy enough for them?

post #6 of 27
where can I invest in it as well!?
I'm having deja-vu and amnesia at the same time. I think I've forgotten this before.
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I'm having deja-vu and amnesia at the same time. I think I've forgotten this before.
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post #7 of 27
Quote:
Originally posted by ZO
where can I invest in it as well!?


You can't. This is private holding company. Kind of like a mutual fund that no one else can get into.
post #8 of 27
That's my favorite variety of apple! In fact, if I were at the helm at Apple in the early 80's, we'd be working on Brae OS X now.

In 1984, Macintosh was a weird sounding name, so I am sure that we would have gotten used to working on Braeburns if that were the name used. I've tried Macintosh apples and I find that Braeburns are much better. (I wonder if Steve Jobs was aware of the Braeburn variety back in those days.)
post #9 of 27
Cork Ireland, but still no stores! Machintosh is names after a varitey of apple too! And a full lenght waterproof coat!
Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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post #10 of 27
Quote:
Originally posted by macFanDave
That's my favorite variety of apple! In fact, if I were at the helm at Apple in the early 80's, we'd be working on Brae OS X now.

In 1984, Macintosh was a weird sounding name, so I am sure that we would have gotten used to working on Braeburns if that were the name used. I've tried Macintosh apples and I find that Braeburns are much better. (I wonder if Steve Jobs was aware of the Braeburn variety back in those days.)

When we run out of big cat names, maybe we should move onto Apple names then. Like Microsoft, we could have different versions of OSX for different users - Granny Smith would of course be aimed at the older generation.
post #11 of 27
Quote:
Originally posted by crees!
So what's up with that whole crap trial? I haven't heard anything for about a week.

Arguments closed (yesterday, I think). Ruling expected Easter-ish.

One article I read yesterday mentioned something interesting.

Apple Corps. had been shown the iTMS 4-months before its debut and didn't complain at all about the logo/name then. Perhaps they didn't think it would be a success and now that it is...it is "worth" making a fuss about?

Who knows.
post #12 of 27
Come on Apple, let's put some of that money into a HUGE advertising campaign for the Macintosh platform!
post #13 of 27
Quote:
Originally posted by Cubert
Come on Apple, let's put some of that money into a HUGE advertising campaign for the Macintosh platform!

"Half the money I spend on advertising is wasted; the trouble is I don't know which half." -- John Wannamaker, U.S. department store merchant (1838 - 1922)

A sentiment that Apple (and others) perhaps consider before putting "some of that money into a HUGE advertising campaign".

post #14 of 27
Quote:
Originally posted by Cubert
Come on Apple, let's put some of that money into a HUGE advertising campaign for the Macintosh platform!

Advertising dual boot would be smart.

Advertising virtualazaion would be a no-brainer.
Hard-Core.
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Hard-Core.
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post #15 of 27
yah, great, advertise that OSX is missing key software but you can run Windows versions.

That's a great idea.
post #16 of 27
So who here is applying for the new jobs?
post #17 of 27
Quote:
Originally posted by BRussell
No coincidence that it's named after an Apple, since most of that cash will be going to Apple Corps pretty soon anyway.

Like hell it will.
post #18 of 27
Wot? No Cox? I suppose it's a bit of a rustic variety, and maybe small cox don't appeal to SJ.

But .. Russett ... Golden Delicious (lies!) ...
post #19 of 27
Quote:
Originally posted by Quisling
You can't. This is private holding company. Kind of like a mutual fund that no one else can get into.

Not directly anyway. Apple shareholders also own a portion of that company and its assets as well.
post #20 of 27
Quote:
Originally posted by JeffDM
Not directly anyway. Shareholders also own a portion of that company and its assets as well.

Yes! It makes me feel all warm and fuzzy inside that I'm a billionaire, even if only indirectly.
post #21 of 27
Favorite apple name for Windows emulation? How about Road Apple?
post #22 of 27
Amazing that soon Apple could have more cash than Dell!!?!?

Who cares what the name is, I like Crab Apple myself, but I hope they use that money to buy RIM and add some blackberries to those apples!!

Blackberry + MacOSX anti-viral + Boot Camp + Mac Mini = A Business Mac Unit
The Mother of all flip-flops!!
Support our troops by educating yourself and being a responsible voter. Democracy and Capitalism REQUIRE Intelligence and Wisdom if they are to be worth a damn beyond...
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The Mother of all flip-flops!!
Support our troops by educating yourself and being a responsible voter. Democracy and Capitalism REQUIRE Intelligence and Wisdom if they are to be worth a damn beyond...
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post #23 of 27
Quote:
Originally posted by MacGregor
Amazing that soon Apple could have more cash than Dell!!?!?

Probably not that hard, Apple insists on a pretty steep profit relative the rest of the industry. Everyone else competes in a cuthroat race of prices.
post #24 of 27
Quote:
Originally posted by JeffDM
Probably not that hard, Apple insists on a pretty steep profit relative the rest of the industry. Everyone else competes in a cuthroat race of prices.

Nope.

http://arstechnica.com/articles/culture/teardowns.ars
post #25 of 27
Quote:
Originally posted by aegisdesign
Nope.

http://arstechnica.com/articles/culture/teardowns.ars

That's pretty interesting. I should have kept in mind that Dell and Apple are oddities for the industry.

Dell is almost exclusively direct-to-consumer, they should have compared against HP/Compaq and the other players that have to deal with retailers. Dell can enjoy higher margins simply because they've generally cut out the retailers.
post #26 of 27
And while they're at it, they should form a new company, called 'iTunes Inc.' whose two flagship products are iTMS and iPod. Market both iTMS and iPod strictly under those two names, with no relation to Apple, sans financial filings, and then let Apple Corps sue all it wants.
'L'enfer, c'est les autres' - JPS
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'L'enfer, c'est les autres' - JPS
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post #27 of 27
Quote:
Originally posted by aegisdesign
Nope.

http://arstechnica.com/articles/culture/teardowns.ars

I think you proved his point. Apple is a higher margin company. The article states that apple profit is less than 4 points higher than dell, as if that is a small number. 4 points of a large number (say in the billions) is a large number!! I'd like a 4% salary raise right now in fact. In fact, my mac computer cost $5000. I'd like to have bought it for 4% less.. that would have saved me $200. I surely would have liked that (plus sales taxes would have been less).
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