Falling Apple share prices have some investors speaking out; Greece bailout fatigue
Morning Brief: Apple stock takes a sharp turn down, giving investors an opportunity to give free advice to the company’s management (though nothing good can come from following that advice)
The executive management team at Apple may be learning a tough lesson: if you try and please the investor class you may end up having to deal with demands to run the company strictly for investors, rather than customers. This incredibly silly column on Forbes.com is one example of the feedback CEO Tim Cook can expect to receive.
The investor class doesn’t like losing money when it gambles on stocks, and it certainly feels entitled to sharing their opinions with a company’s CEO when they begin to see losses. As Apple has the world’s largest cash reserves, it should be immune from the kind of nonsense being spouted by the financial media outlets. But don’t be surprised to start hearing things such as “unlocking shareholder value” – a favorite term of the investor class, which usually means either selling off assets, increasing the dividend (the move made by company executives, and already employed by Cook), or splitting up the company.
Meanwhile, Re/code is reporting that Apple avoided a potentially nasty return to court when EU regulators found that the company was not colluding with the record labels to suppress free music streaming. Apple is still dealing with repercussions of its eBook pricing and was probably not looking forward to another round of litigation concerning music.
I went back and forth on whether to cover the release of this app from Forbes last week – Forbes Under 30 – but wasn’t convinced the app would gain traction. The app was created for Forbes Under 30 community members, and has the feel of previous attempts to attract a younger demographic.
“Forbes’ 30 Under 30 lists bring together the most influential and accomplished young entrepreneurs and game changers,” said Salah Zalatimo, Head of Mobile Products at Forbes. “Our Under 30 app is a tool we developed to better connect, empower and mobilize this community to help change the world.”
Quite a lofty goal for a mobile app. Of course, what Forbes means by changing the world is not likely to be the same as what younger people think when the say changing the world.
The app has received only one written review so far:
OK, whatever you say.
There is a massive Greek bailout fatigue on the part of the media. So the fact that the Greece is still negotiating with its lenders is not getting much coverage today. But the talks are wrapping, with a deal expected to be hammered out by later this week.
“From 12 midnight the two sides started the final stretch, discussing the final stretch – combing through the final text, sentence by sentence, word by word,” a Greek finance ministry official told Reuters.
As mentioned on Friday, Typhoon Soudelor did, indeed, strike Taiwan. Reports say at least 21 people are reported killed by the storm. Mudslides killed 14 in the eastern Chinese cities of Wenzhou and Lishui.