At Apple’s annual shareholder meeting Friday, Apple CEO, Tim Cook shot down the suggestion from a conservative, Washington, D.C.-based think tank that Apple give up on environmental initiatives that don’t contribute to the company’s bottom line, going so far as to tell them “get out of the stock”.
The National Center for Public Policy Research, a conservative, Washington, D.C.-based think tank, made the suggestion that Apple’s increasing reliance on “green energy”, along with hiring former EPA head Lisa Jackson (who probably doesn’t know much about making IPhones), might not be in the best interests of stock holders. NCPPR General Counsel Justin Danhof said as much in a statement issued to Apple ahead of the meeting. “We object to increased government control over company products and operations, and likewise mandatory environmental standards,” Danhof wrote alongside NCPPR’s demand that the pledge be voted on at the meeting. “This is something [Apple] should be actively fighting, not preparing surrender.”, reported CNET.
“We do a lot of things for reasons besides profit motive,” Cook said. “We want to leave the world better than we found it.”
Of course, once a company starts spending money for reasons other than profit motive, they’re doing their stockholders a disservice. Investors don’t generally buy stocks to further a political agenda. They buy stocks to increase the value of their assets. When the CEO tells stockholders to sell their stock if they don’t like the company’s politics, they’re making matters even worse by lessening demand for, and hence the price of, the stock.
A very expensive liberal agenda, a complete disregard for basic economics, and the best interests of shareholders, combined with a severe lack of innovation since the death of Steve Jobs, and rapid advancement by competitors like Samsung can’t do good things for this company.