Senator John McCain had a lot of fun grilling Tim Cook at yesterday’s Senate Sub-Committee Hearing, but before he was done he couldn’t help but let off one little joke as he asked Tim why he has to keep on updating all the apps on his iPhone manually.
“Can’t you guys fix that already?” McCain asked.
Cook let off a chuckle before stating that Apple is “working on making our products better all the time.” But we know what the southern gent was really thinking.
Penguin announced this morning that the company has reached an agreement with the US State Attorneys General to pay $75 million as a settlement for the eBook price fixing claims that have been launched against Apple’s iBookstore.
US authorities have called Apple out for collusion with electronic book publishers, saying that the Cupertino-based company conspired with publishers to raise eBook prices when negotiating iBooks by playing them all against each other and against rival eBook retailer, Amazon.
Here’s Penguin’s official statement on the settlement:
Holograms are supposedly going to be the future of artistic performance. First there was the Tupac hologram at Coachella, and now Eazy-E and Ol’ Dirty Bastard are making a hologram comeback too.
Tim Cook had to endure a barrage of silly questions at yesterday’s Senate hearing, but the most most absurd and tasteless came from none other than TMZ who was dying to know if Steve Jobs will make an appearance as a hologram at the next Apple event.
Rather than slapping the reporter for being ridiculous, Tim Cook used his southern charm to deflect the question. Heres a video of the awkward encounter:
During his appearance before the Senate Permanent Subcommittee on Investigations on Tuesday, Apple CEO Tim Cook revealed that Apple’s “Made-in-USA” Macs will be manufactured in Texas. The Cupertino company announced its plans to produce one of its Mac lines on U.S. soil last December, but until now, it was unclear where the process would take place.
Apple has published the opening statements read by CEO Tim Cook and CFO Peter Oppenheimer earlier today at the U.S. Senate Subcommittee hearing on corporate taxes. The hearing lasted several hours and was televised live on CSPAN.
U.S. Senator Rob Portman from Ohio has just raised a fascinating point at today’s Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc.
The American corporate tax system is so broken that Apple is at a competitive disadvantage against Samsung when it comes to the taxes it pays globally, and how easily it moves its money around.
Senator Claire McCaskill has just asked Apple CEO Tim Cook about the deal Apple forged with Ireland to pay only 2% taxes, and whether or not there will ever be a country that offers Apple such a great tax deal that they would pack up and move out of Cupertino to overseas.
John McCain ended his grilling of Apple CEO Tim Cook at today’s Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc. with a nice little joke.
“Sir, there’s only one thing I wanted to ask you today: why do I keep on having to update all the apps on my iPhone? Can’t you guys fix that already?”
“Sir,” Tim cook laughed. “We’re working on making our products better all the time.”
“Do you feel that you’ve been bullied or harassed by this committee?” Senator John McCain has just asked Tim Cook at the Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc.
“I feel good to be participating in this. I hope to help the process. I’d like comprehensive tax reform to be passed this year, and we will help in anyway we can.”
“I wasn’t dragged here, sir,” Tim Cook laughed.
“You’ve obviously taken advantage legally of a number of loopholes. Couldn’t you draw a conclusion that you have an unfair advantage over domestic companies?” asked McCain.
“No, it’s not the way I see it. Apple pays 30.5% of its profits in taxes on the United States. I would guess that’s high on the list of how it stacks up against other companies. We do have a low tax rate outside the U.S., but it’s for products we sell there, not within. So the way I look at this is there’s no shifting going on.”
Tim Cook is saying that because domestic companies operate only domestically, Apple has no advantage over them domestically: it only has an international advantage, which isn’t applicable in talking about “competitive advantage” in a U.S.-only context.
Apple CEO Tim Cook and CFO Peter Oppenheimer are in Washington D.C. this morning to talk to a Senate subcommittee about Apple’s off-shore cash hoard. The Apple execs are expected to face a lot of heat surrounding Apple’s Irish subsidiary, through which Apple has funneled 64% of its earnings without paying any tax, yet has zero employees.
Before the hearing got underway though, Ireland’s deputy prime minister, Eamon Gilmore, issued a public statement which claimed Ireland isn’t to blame for Apple’s low tax bill, even though the country has become a tax haven for multinationals since the 1960s.
