Jobs wants flexibility for $40 billion cash hoard
Apple’s annual shareholder meeting passes quietly with stakeholders largely satisfied with the company’s record-setting $15 billion holiday quarter, though questions about Cupertino’s brimming cash kitty, as well as a pair of green initiatives that were voted down managed to make the highlight reel.
The Associated Press (via iPod touch + Evernote) reports that a thin and unshaven Steve Jobs attired in black turtle neck and blue jeans fielded shareholder questions without any serious challenges.
On the subject of the company’s swelling $40 billion cash hoard, Jobs deflected inquires about the possibility of a dividend saying that the money gives Apple “tremendous security and flexibility.
“If Apple decides to acquire another company, it can do so by writing a check instead of borrowing money,” he said. “Who knows what’s around the next corner?”
Additionally, Reuters (via Wired) covered the shareholder conclave, picking a different quotable from company’s numero uno.
“When you take risks, it’s like jumping in the air. When they don’t work out, it’s nice to know the ground is always there,†said Jobs, adding that Apple now has to “think big” in how it approaches business.
Sustainability shunned
Shareholders voted down proposals designed to force the company force to create a in-depth sustainability study and form a board-level committee on the subject.
On the topic of the environment, the Apple CEO said the company is taking steps to get suppliers to use non-toxic materials and reduce waste, specifically by reducing “extraneous” packaging.
Lastly, Apple says that it expects to 25 or more retail stores in China over the next two years.
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