Californa teachers unions/pension funds messing with Apple

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    Posted: 21 December 2010 10:26 PM

    This story just burns me. Calpers, an idiotic, anachronistic, defined-benefit pension (sorry for redundancy) organization for California public employees, which is hopelessly insolvent due to gross mismanagement, is now presuming to tell Apple how to run its company.

    Calpers, Apple at Odds on Governance

    This is just the camel’s nose under the tent. These arrogant pension funds and their lefty bureaucrats want to tell corporations how much to pay their executives, and how “green” (ugh, I hate word) they should be. Can you imagine shareholders telling Apple’s board how much they can compensate Steve Jobs or Jonathan Ive? Would you really want this?

    Bottom line is the average shareholder doesn’t have clue one how a top company like Apple should be run, let alone stupid, public employees who have been brainwashed into jealous notions of class warfare by their unions.

    And I say this as someone who has sat in union meetings as a (part-time) public employee and who is eligible for Calpers retirement benefits (fortunately, I look out for my own retirement instead of depending on idiots like Calpers to dole out a pittance to me). Trust me, you do not want these people anywhere near your company. And BTW, Calpers-enrolled employees do not partake in Social Security. Remember that when they ask for a bailout.

    For the record, Calpers, in its genius, projected an 8% annual growth rate of its investments (if only they’d put all their money into AAPL, it would have). But anyone who’s looked at the S&P 500’s flatline the last 10 years should know how stupid that was. “Thinking” like this is why California has a $500B pension shortfall, or as I like to call it, “The Next Bailout.” These are the idiots telling Apple’s board how to run things! Argh!

    Be afraid. Be very afraid.

    [ Edited: 21 December 2010 10:29 PM by JDSoCal ]

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    Posted: 22 December 2010 12:22 AM #1

    JD, I gotta say man that the premise of the article I agree with. This is a publicly held company and since they are a large shareholder they should be able to bring things to a vote. BOD members need to be held accountable. Especially this one. Apple runs a BOD that requires only one yes, are you kidding me. Calm down JD. It’ll be alright. LOL

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    Posted: 22 December 2010 12:52 AM #2

    mbeauch - 22 December 2010 04:22 AM

    JD, I gotta say man that the premise of the article I agree with. This is a publicly held company and since they are a large shareholder they should be able to bring things to a vote. BOD members need to be held accountable. Especially this one. Apple runs a BOD that requires only one yes, are you kidding me. Calm down JD. It’ll be alright. LOL

    Great, I want Joe Sixpack telling Apple’s board what to do. Can’t wait ‘till they vote on compensation and say Steve Jobs and Jon Ive are paid too much. Then Facebook can hire Ive away. All in the name of democracy! Makes me wish Apple would go private and tell Calpers to go fark themselves!

    BTW, these retarded pension funds also bring stupid “shareholder” lawsuits to enrich lawyers, all at the expense of…shareholders. Like that backdating suit the NY pension fund brought. Yeah, that made us all rich.

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    We filed for over 200 patents for all the inventions in iPhone and we intend to protect them. — Steve Jobs, 2007

         
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    Posted: 22 December 2010 01:35 AM #3

    JD, I do not trust any large corporation. I don’t trust the government either. It is when you are not paying attention that they both screw you. You know darn well that Joe six pack has no input on voting. We are not talking compensation here, were are talking about the BOD being held accountable. I for one think that the Apple BOD is not doing its job. Maybe some new people do need to be put in place, I know one we both would like to see go. Apple is going to have 100 bil in assets in just over a year. Why is some of that money not going back to shareholders? Why is the outstanding number of shares constantly diluted? The BOD really does not care what the price is since they have the option to buy and lock in hundreds of a % gain.

    Gonna stop before it turns into a rant. LOL

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  • Posted: 22 December 2010 09:22 AM #4

    JDSoCal - 22 December 2010 02:26 AM

    This story just burns me. Calpers, an idiotic, anachronistic, defined-benefit pension (sorry for redundancy) organization for California public employees,

    Those of us who have defined benefit pensions do not consider them idiotic or anachronistic.  smile

         
  • Posted: 22 December 2010 10:40 AM #5

    roni - 22 December 2010 01:22 PM

    Those of us who have defined benefit pensions do not consider them idiotic or anachronistic.  smile

    I think it was the idea of a company that has no track record of delivering any achievements trying to fight a legal battle with a company that so obviously does know how to run things to make sure that they take on board a “better way”. Well actually Apple are doing pretty well… from dead company to second largest by market cap in, what, 12, 13 years?

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  • Posted: 22 December 2010 08:10 PM #6

    JDSoCal - 22 December 2010 02:26 AM

    This story just burns me. Calpers, an idiotic, anachronistic, defined-benefit pension (sorry for redundancy) organization for California public employees, which is hopelessly insolvent due to gross mismanagement, is now presuming to tell Apple how to run its company.

    Calpers, Apple at Odds on Governance

    For the record, Calpers, in its genius, projected an 8% annual growth rate of its investments (if only they’d put all their money into AAPL, it would have). But anyone who’s looked at the S&P 500’s flatline the last 10 years should know how stupid that was. “Thinking” like this is why California has a $500B pension shortfall, or as I like to call it, “The Next Bailout.” These are the idiots telling Apple’s board how to run things! Argh!

    Be afraid. Be very afraid.

    When the 100 year average return of the DOW exceeds 10% per year, I’m afraid of the management (and their compensation Packages) of any investment institution that can’t exceed that.

    As an amateur, I’ve been making 800+% EACH year since 2006 (2 years after I started trading). It isn’t as hard as the ‘professionals’ make it out to be.

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    You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.