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Mon, Mar 22, 2010 - 06:39 AM EDT  —  AAPL: 222.2499 (-2.4001, -1.07%)  |  NASDAQ: 2374.41 (-16.87, -0.71%)

Apple shareholders’ proposals for 2009 opposed by Apple’s Board of Directors
Friday, January 09, 2009 - 09:39 AM EDT

Apple Online Store"Apple shareholders are putting four motions to the company's annual meeting on February 25, but the board of directors is opposing each and every one of them," Stephen Withers reports for iTWire. "It's not unusual for shareholders - especially those of an activist bent - to use annual meetings to as vehicles to publicise issues they feel particularly strongly about."

"Furthermore, such motions are often framed to embarrass the company or directors, and it's not unknown for people to buy small parcels of shares primarily to gain the right to propose motions or otherwise speak at annual meetings," Withers reports.

Apple (AAPL) shareholder proposals:

• Twice-yearly report from the company on its direct and indirect political contributions and expenditures. (Proposal by International Brotherhood of Teamsters General Fund, holds 2659 AAPL shares)

• Adopt principles for health care reform based upon principles reported by the Institute of Medicine. (Proposal by: AFL-CIO Reserve Fund, holds 500 AAPL shares)

• A sustainability report from directors "describing corporate strategies regarding climate change, specifically to reduce greenhouse gas emissions and addressing other environmental and social impacts such as toxics and recycling, as well as employee and product safety." (Proposal made on behalf of an individual that owns 84 shares, but co-sponsored by the New York City Office of the Comptroller (over 2 million shares) and the Green Century Equity Fund (7950 shares))

• Shareholders' advisory vote on executive compensation. (Proposal by AFSCME (American Federation of State, County and Municipal Employees) Employees Pension Plan, holds over 21,000 shares)

"Shareholder resolutions rarely get across the line, often because large institutional investors typically follow board recommendations," Withers reports. "If any of the four is to get up, it is perhaps most likely to the one regarding executive compensation, which was supported by the majority of the shares voted at the 2008 meeting but failed the additional hurdle of support by the majority of voting power required to constitute the quorum."

Full article, which contains Apple's Board of Directors' opposition to each proposal, here.

[Thanks to MacDailyNews Reader "Fred Mertz" for the heads up.]

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Reader feedback page 1 of 1 pages:
Jan 09, 09 - 10:52 am Comment from: Jersey_Trader

I would like a suggestion box that new product ideas, upgrades, applications and service suggestions can be submitted to Apple. They could establish an internal rating system to sort out the nuts from the great suggestions. I have lots of ideas and suggestions yet to be done by Apple. If they like your idea and you are at all qualified, they could take you on as a project adviser or forward you idea to a 3rd party working with Apple. Win win all around and a good PR move in these hard times. Kind of like that app grant fund.

Jan 09, 09 - 11:03 am Comment from: wyseguy

Already done. http://www.apple.com/feedback

Jan 09, 09 - 11:04 am Comment from: @Jersey_Trader

Whatever dude.

Jan 09, 09 - 11:12 am Comment from: Randian

@Jersey_Trader

Megalomania* strikes deep. Into your mind it will creep. There's a man with a gun over there, telling [you] you got to beware.

Recommendation: Run, do not walk, to your nearest psychoanalyst. You, Napoleon, Alexander, Julius Caesar, Hitler, Mao, and a few others will make for a great group session.

* delusion about one's own power or importance

Jan 09, 09 - 11:17 am Comment from: Sherm

...for what it's worth.

Jan 09, 09 - 11:22 am Comment from: Pete

It's Mr. Rogers' fault.

Jan 09, 09 - 11:23 am Comment from: Jeremy

I bet that third one was filed by that a-hole at Greenpeace that has been writing all those trash-Apple pieces.

Jan 09, 09 - 12:02 pm Comment from: ron

You'll notice that unions are the trouble-makers in this conflict. Unions - the great leveler - to the lowest common denominator.

Unions have ruined American schools. Government unions are the biggest waster of time in the country. Just watch them standing around on C-Span. Worse than the Senate and Congress. Free enterprise is on the way out in the USA. Libs Unite. Oh well!

Jan 09, 09 - 12:13 pm Comment from: shiva105

While Unions may be putting some of the motions forward, don't let that blind you to the motion itself.

I actually kind of like the first proposal, assuming it's not already a duplication of efforts. I think it would be a good idea for a publically owned company to clearly indicate where it's political donations have gone. Other than a modest expense of actually creating the report, how can it hurt?

As for health care reform, that's better left to the government, I think. Apple is just one company, afterall, and only employees a tiny fraction of all the workers in the US. My guess would be that Apple employees have pretty good benefits, so I'm not sure what "reform" would do for the company.

An environmental report is another one that in principle might not be a bad idea, but in practicality isn't very useful. Assuming that much of that info is already reported to the FTC, just re-package that information and make it more easily available.

Share holder advisory votes on executive compensation is a good idea, as far as I'm concerned. Afterall, the share holders own the company, and anything that gets them more involved in how the company works is a good idea. If you don't want the hassle of a bunch of shareholders asking questions or making their opinions known, don't go public!

Jan 09, 09 - 12:20 pm Comment from: Activist Shareholder Nutbag

I propose that Apple have an annual report on how their customers and non-customers treat baby seals in the Arctic

Jan 09, 09 - 12:41 pm Comment from: Steev

Yes Apple should listen to the Unions.

They've done such a great service to American auto manufacturers, Ca & NY taxpayers (to name a few).

Jan 09, 09 - 01:01 pm Comment from: alansky

Message from Apple Board of Directors to Shareholders Making Proposals at Annual Company Meeting:

Mac-screw you!

Jan 09, 09 - 01:29 pm Comment from: ron

alansky is pro union it seems. I fought union organizer slackers 3 times in the print industry and won 3 times.

Jan 09, 09 - 02:17 pm Comment from: 2008 was the year manmade global warming was dispr

2008 was the year manmade global warming was disproved

Please stop this Climate Change nonsense!

http://www.telegraph.co.uk/comment/columnists/christopherbooker/3982101/2008-was-the-year-man-made-global-warming-was-disproved.html

Jan 09, 09 - 03:27 pm Comment from: CourJester

@2008 Global Warming

Nothing in the article you quoted is actual hard science that proves or disproves anything.

Its a great cherry picking story though designed to sell newspapers.

Every day MDN exposes techno-journalists as ignorant fools. Just remember that before you jump to conclusions.

Jan 09, 09 - 03:49 pm Comment from: MilitaryPolice

Global Warming: Well, it's a bit off-topic, but one of the most interesting theories of late, correlates warming and cooling cycles to sunspot activity. The short of it is that when the sun is more active, a variety of phenomena occur that reduce the number of cosmic rays penetrating our atmosphere. Cosmic rays apparently increase cloud cover (mechanism: cosmic rays create ionization in the atmosphere, causing molecular bonding, spawning clouds), and clouds dramatically affect surface temperatures, so a reduction in cosmic rays results in cooler temperatures. The correlation between cosmic rays and cloud cover has a correlation coefficient of .92, very high. Futhermore, the previous era of least sunspot activity, 1645-1715, was also one of the coldest, known as the Little Ice Age.

Jan 09, 09 - 03:51 pm Comment from: RePlay

• Shareholders' advisory vote on executive compensation. (Proposal by AFSCME (American Federation of State, County and Municipal Employees) Employees Pension Plan, holds over 21,000 shares)

Someone must be upset about that whopping $1.00 that Steve's been pulling down these last few years.
smile

Jan 09, 09 - 04:34 pm Comment from: Andy

I read those 'proposals' and wondered if I were reading some sort of Marxist ultimatum; Universal healthcare? Environmental cultists? (yes, that's right, cultist!)

Apple Inc is a company that designs, creates and sells electronic products -- it is not a political activism group, or savior of the planet. It's computers are the best in the world, sure, but why not let Apple focus on maintaining such quality and experience?

(Yes, I know Steve has used Apple occasionally as a political platform, and I think that practice should end. A company's profit should go exclusively into operations or wages, whereas Steve et al are welcome to fund political parties out of their OWN pocket, instead.)

Jan 09, 09 - 06:54 pm Comment from: bizlaw

Why is it Apple's job to reform health care? If hospitals, doctors and patients stopped letting insurance companies tell us how, where and with whom we could do our health care, we could handle the matter without Steve's help.

Unless Apple is going to supply all doctor's waiting rooms with free iPods. smile

Jan 10, 09 - 12:27 am Comment from: Mac4lfe

Other electronic companies wont be the death of Apple. Lunatic green and socialist minded people will cause the demise of this great company.

Jan 11, 09 - 01:21 am Comment from: MacPrivate

Time to buy back all the shares and take the company private. Screw lame investors.

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