New records

London news

Einhorn pleads with investors on Apple vote



BILLIONAIRE investor David Einhorn yesterday pleaded with fellow Apple shareholders to vote against the iPhone maker’s proposals to change its corporate practice.

Einhorn’s Greenlight Capital hedge fund, which owns around $600m (?394m) in Apple shares, laid out proposals that would see billions of dollars returned to shareholders.

Einhorn said that despite the company’s history of product innovation its “attitude to managing its cash has been decidedly non-innovative”.

Greenlight Capital wants the company to distribute a new class of preferential Apple shares – which he dubbed iPrefs – that would be handed out to investors and return a regular, fixed dividend.

Apple has said it is considering Einhorn’s proposals. However, a board proposal at its upcoming annual meeting would see it prevented from issuing the kind of preferential stock suggested by Einhorn.

Greenlight Capital is also taking the company to court, claiming the proposals would violate US corporate laws. On Tuesday the judge presiding over the trial said Einhorn was likely to win the case.

Einhorn said his suggestions would return value to investors, while leaving Apple with cash to make acquisitions, and preventing it from jeopardising its business. Apple’s shares have fallen by a third since their summer highs.

“[The proposals] don’t interfere with whatever business plan Apple has, we want them to keep innovating and designing products we can’t imagine living without,” Einhorn said, imploring shareholders to “send [Apple] a clear message”. Apple did not comment.

CATEGORY: Carpets, Rugs and Matting

Pages: [1] [2] [3] [4] [5]

A & R Office Services A C Carpet Planners A G F Acorn Carpets Ltd.
Alan Tuckwell Albany Carpets Ltd. Allied Carpet Stores Allied Carpets
Andora Carpet Centre B & P Carpets Ltd. B A C C Carpets Ltd B C C Carpets
Bangla Town Carpets Barbican Discount (Carpet) Service BKS Carpet Planners C Abbott Ltd.
C B Flooring Capital Carpets Carol Aston Carpets Ltd Carpet & Rug Shop Ltd
Carpet Busters Carpet Centre The Carpet Corner (Furniture) Ltd. Carpet Design Centre
Carpet Design Centre (London) Carpet Mart Carpetman Carpetright
Crown Carpets D A T Carpets D Knight Carpet Fitting Specialist Diamond Cut Carpets
Fitted Carpets Ltd. Flying Carpets G L Carpets & Furnishers Garrard Interiors
Ghandi Carpets Golds Carpets H C McCauley Carpets Hawksmoor Interiors
Holme Carpets Hotel & Industrial Suppliers (G B) Ltd. J & J Carpet Planners J Bullman & Sons (Carpet Contracts) Ltd.
J Yearley Ltd. Johnstone & Neve Ltd. Just Mats Ltd. K Elhee
Kapital Carpets Kohanim Associates Ltd Leddra,Gary, Logo Mats
M & K Carpets Malvern Carpets Manor Park Discount Carpet Co Marcon & Carpet Warehouse
Marcon & Co Marsh Hill Carpets Marsh Well Carpets McGauley,N,
P V Barnes Carpets Ltd. Plashet Carpets Powells Carpet Stores S M S Carpets
Stephen Martin Styles Carpet Planning Services Surplus City Tait,S,
Taj Mahal Carpets & Furniture Telrose Carpet Retailers Terran Carpets The Carpetman
Truman & Hall Tyndale Carpets Ltd. A & E Contract Carpets A A A Services Ltd.
A T S Carpets All Area Carpet Supplies Alroy Carpets B J Long
B W Willmott & Co Brian Favell C R Carpets C R Waite
Cannon Hill Carpets Canonbury Carpets Carpet Care & Supply Carpet Depot
Carpet Rite Carpetland Carpetstyle Ltd. Colemans Carpet Sales
Comfy Carpet Centre D Busby & Son Ltd. D H S Carpets & Blinds Daniels Carpets
Designer Matting Drakepine Ltd. Eastern Kayam O C M Ltd. Euro Tapis