John Paczkowski

Recent Posts by John Paczkowski

Icahn Pledges to Continue Bugging Apple CEO

Tim_Cook_red_chairCarl Icahn’s Monday dinner with Apple CEO Tim Cook may have been a largely cordial affair, but it sounds like it did get a bit heated here and there.

In an interview with CNBC earlier today, the billionaire activist investor said that his exchange with Cook got “slightly huffy” at points, particularly when the conversation turned to how Apple’s board might respond to Icahn’s $150 billion stock buyback idea.

“The board is not appointed by God. They don’t have the divine right of kings,” Icahn said, adding that it’s a “no-brainer” for Apple to do a major buyback.

“I feel very strongly about this,” Icahn said. “I can’t promise you the stock will go up, and I can’t promise you they will do the buyback. But I can promise you that I’m not going away until they hear a lot more from me concerning this.”

Icahn and Cook are tentatively scheduled to meet again in about three weeks.

Apple did not respond to a request for comment on Cook’s dinner with Icahn.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work