HUFF POST: On Wednesday, Apple disclosed to the SEC as part of their Form 10-K filing, that they currently have $81,570,000,000 in cash, 13.2 million square feet of building space, and 60,400 full-time employees.
“This means that Apple pulled in $37.5 billion in cash profits in fiscal 2011. Not bad for a company that ‘missed’ industry estimates.”writes The Next Web.
During Apple’s earnings call in October, Tim Cook waved off Apple’s mountains of cash, saying they weren’t “burning a hole in our pocket” reports MacRumors. He went on to emphasize that Apple was in no rush to decide what to do with the money, and that he was not “religious about holding or not holding cash.” Apple’s CFO said that 66 percent of the cash was kept overseas for tax reasons. … (more)
EDITOR: We wonder how much less capital Apple would have if their product was manufactured in the USA rather than in China? How much better off would the USA be in manufacturing technology as well as jobs? Will Apple wake up some day to find that the Chinese have launched a direct competitor, making full use of the manufacturing technology they have gained and simultaneously raising China’s prices to manufacture Apple products? This has been the Chinese way for decades.
Absolutely the point; when will we make trade fair and equitable? Why aren’t we fining companies for making their profits on the backs of third world countries, shipping their goods back to America and charging us twice (I’m being gratuitous) the cost?