Apple to give away all of its cash — to the wrong people.

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  • May 26, 2018 at 1:11 pm #86630
    Avatar photoBilly_T
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    http://www.businessinsider.com/apple-fred-anderson-steve-jobs-would-have-supported-cash-return-plan-2018-5

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    Last time I checked, Apple was sitting on something like 250 billion dollars. This is in addition to its usual huge profits each year.

    If the article is accurate, it’s trying to get down to a zero net war chest. But instead of giving this cash back to the people who generated it — generated the surplus value — workers!! they’ve decided to give it to shareholders and do stock buybacks instead.

    As you guys all know, I despise the capitalist system, from the seeds, to the roots to the branches. I see it as always already obscenely immoral, in any of its existing forms. But if there’s a choice between a kind of “stakeholder” capitalism and a “shareholder” version, I’ll always go with the former.

    Apple should send that money back to its rank and file workers, especially those in China and elsewhere who make 70 cents an hour and commit suicide because the working conditions are so horrible.

    Apple should be deeply ashamed.

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