Monday, March 03, 2014

Apple Just Said It's Gonna Waste Your Money on Climate Stuff

I'm a professional investor and my firm has sat on corporate boards.  I think this is a 1) a firing offense, and 2) a giant red flag to stay away.
Tim Cook has shocked some in the US with an impassioned attack on the single-minded pursuit of profit – and a direct appeal to climate-change deniers not to buy shares in his firm.
It is not the CEOs job to lecture shareholders and/or to harangue shareholders.  A CEO should lay out a company's mission, goals, strategy and operating mechanisms and the rationale for each and let shareholders decide for themselves whether they want to invest.  Calling shareholders names ("deniers") is an unacceptable infraction of professionalism. 

And on substance, it appears that Apple is perhaps too far under the influence of Board member Al Gore in viewing global warming as a crusade for which shareholders' money must be put in service of.  Major red flag.


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