CALIFORNIA | LOCAL
June 5, 2013 |
SAN FRANCISCO - Faced with a steep rise in smartphone theft, the San Francisco district attorney and New York's attorney general said Wednesday that they will convene a summit next week with the top four phone makers to push for a technological fix to what they call a crime epidemic. “Last year, 50% of all robberies in San Francisco involved a mobile communications device,” San Francisco Dist. Atty. George Gascon said in an interview. “In Los Angeles it was 30%; 1.6 million Americans last year were victims of smartphone theft, and we've started to see some violence.” Gascon said representatives from Apple Inc., Google Inc., Samsung Electronics Co. Ltd. and Microsoft Corp.
June 3, 2013 |
Shares of Pandora Media Inc. tumbled Monday after reports surfaced that Apple Inc. had taken a key step toward launching its own music streaming service. Warner Music Group has signed a publishing and recorded music licensing deal with Apple for its long-rumored Pandora rival, widely referred to as iRadio , according to multiple reports. About halfway through Monday's stock-market session, Pandora shares were trading at $15.06, down $1.96, or 12%, from Friday's closing price.
May 24, 2013
Re "Apple execs grilled over tax strategy," Business, May 22 Unbelievable, stunning, incredible that members of Congress have the audacity to bring the chief executive of one of the most successful companies this country has ever seen to grill him on Apple Inc.'s tax strategy (which, by the way, is perfectly legal) so they can try to wring more money out of him. Apple paid $6 billion in taxes last year; isn't that enough? Forcing Chief Executive Tim Cook to respond to legislators who have been on the public dole much of their lives and haven't done much in the way of intellectual innovation (or even fixing this country economically)
May 23, 2013
Re "Apple's U.S. tax shelters faulted," May 21 French novelist Honoré de Balzac once wrote, "The secret of a great success for which you are at a loss to account is a crime that has never been found out, because it was properly executed. " That statement describes Apple Inc. perfectly, except it has finally been found out. Thankfully, Sen. Carl Levin (D-Mich.), chairman of the Senate Permanent Subcommittee on Investigations, seeks to expose Apple's fraudulent tax policies.
May 22, 2013 |
WASHINGTON - Apple Inc. Chief Executive Tim Cook was supposed to face a hostile Capitol Hill crowd but instead he wielded the company's popularity like a shield to deflect some of the most aggressive questioning over the company's controversial tax practices. A handful of heated exchanges erupted in the hearing Tuesday before the Senate Permanent Subcommittee on Investigations as lawmakers pressed Cook and two other Apple executives to explain how the company used its Irish subsidiaries to avoid paying billions of dollars in taxes.
May 20, 2013 |
WASHINGTON - Apple Inc., one of the most successful and valuable companies on the planet, will be tested Tuesday when Chief Executive Tim Cook testifies about the company's controversial tax practices before a hostile Senate subcommittee. Should the company, as Apple and Cook argue, be applauded for creating hundreds of thousands of jobs and paying $6 billion in federal taxes last year, among the most of any U.S. corporation? Or should Apple be reviled for stashing a hoard of cash overseas so it could legally skirt an additional $15 billion in taxes over four years, making it potentially one of the country's biggest tax avoiders?
May 1, 2013 |
Now that second-quarter earnings and Apple's massive bond offering are behind us, speculation has shifted back to products. And the big product that has tongues wagging is some reportedly radical changes to the operating system that powers the company's iPhones and iPads. Much of the drama surrounds the fact that Jonathan Ive, Apple's longtime hardware design guru, has also been placed in charge of software design as well. That happened last fall following a management shakeup. Ive is now s enior vice president of i ndustrial design.
May 1, 2013 |
First came the frenzy for iPhones and iPads. Now there's a scramble for iBonds. Apple Inc. sold $17 billion in bonds Tuesday, a gargantuan deal that ranked as the largest in global corporate history. And even though the securities are paying microscopically low interest, investors tripped over themselves to buy in. In the financial equivalent of a line stretching around the block, investors reportedly submitted more than $50 billion in requests, or more than three times the amount available.
April 24, 2013 |
Apple Inc. will spend an unprecedented $100 billion to buy back shares and increase its dividend - a not-so-subtle attempt to appease jittery investors who have seen the company's stock plunge by nearly half in recent months. Although the announcement was intended to send a signal of how strongly executives believe in Apple's future, it came on the heels of an earnings report that included the company's first profit drop in a decade. The mixed messages about Apple's prospects left investors torn about how to feel about everything they learned Tuesday.
April 9, 2013 |
Ron Johnson was ousted as chief executive of J.C. Penney Co. after a remarkably short and gaffe-filled tenure that succeeded mainly in driving away customers. Johnson was lured 17 months ago from a top job at Apple Inc., where he was celebrated for pioneering the technology giant's cutting-edge retail stores. But he stumbled badly at J.C. Penney, pursuing an unorthodox upscale strategy that alienated the company's budget-minded base. His time at the helm of the 110-year-old department-store chain was marked by unusually sour statistics: Revenue tanked 25% in a single quarter.