business-in-london.biz
 
 
New records

London news

Einhorn pleads with investors on Apple vote

0000-00-00

JAMES TITCOMB

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: Fashion Shops


Pages: [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14]

A E Everett AB Fashions Abitex Fabrics Actionbrook Ltd.
Adam Fashions Ltd. African Shop Aimmart Ltd. A-la-Mode Menswear
Ali,Liakot, All Day Design Ware Alpha Boutique Alpine (Uk) Ltd.
Amani Amazing Grace Amazu Menswear & Ladieswear Amberjacks
Annarina Dresses Apsara Novelties Aristocrat Exclusive Ladies & Menswear Ltd. Ariston Textiles Ltd.
Assim Brothers Fashions Austin Reed Ltd. Aytans Manufacturing Co Babes
Babriya Fashion Barry Prince & Co. Ltd. Beauty Empire Bedlovers Ltd.
Bees (London) Ltd. Bella Benny Dee (Underwear) Ltd Bizaare
Bloyford Ltd. Bobby & Felis Fashions Body Basics Accessories Ltd Bolina Fashions
Bombay Looks Bombay Saree House Boom City Ltd. British Garments
Brobbey Bunny Burns Retail C & A
Casa Junior Chana,G, Channi Textiles Chiffons Ltd.
Choudhary Fashions Clothes Box Cockney Touch Clothing Coleman Helen
Continental Discount Centre Cover Up Cuckoo Fashion Cyrils Fashions
D & P Wholesalers Ltd. Dalco International Ltd. Daminis Ltd. Don Azar Ltd
Doreen Fashions Durga Arts & Crafts East Of Eden Ela Fashion
Elegant Elegence Elizabeth Kate Etam Plc
Evans Ltd Evasion Eve Dexter Fashionwear Extra Fashion
Faith Boutique Farha Fashion Fair Fashion Exchange(The) Fashion Fair
Fashion Stop Faze 4 Fields of Chingford Fifth Avenue
Finesse First Avenue Folio Ladies Fashion Frank Saul (Fashions) Ltd.
French Connection French Connection Factory Shop Glory Fashions Goggle Boutique
Golden Stitch H K Fashions Harrow Stores Henna Exclusive
Hill Street Jean Co Holdstock,Carol, Holland,Harold, Hunters & Gatherers
Ida's Ismail,I, Istanbul Showroom J Brafman Ltd.