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Shareholders re-elect Apple board, reject most shareholder proposals

03/10, 3:02pm

Cook commits to more work on diversity, dodges questions on board opening, Tesla

The annual Apple shareholders' meeting was held on Tuesday at Apple headquarters in Cupertino, with shareholders re-electing the entire board of directors, expressing confidence in the management team, and following Apple's recommendations on various proposals. The board was re-elected with 95 percent approval, but Apple CEO Tim Cook notably avoided questions about diversity on Apple's board, as well as shareholder questions about a possible Tesla relationship.


Verizon feeling heat from investors over net neutrality stance

01/14, 2:39am

Group representing $30.6 billion in holdings want unequivocal statement

Telecommuncations carrier Verizon has often said that it supports the concept of net neutrality, but its actions undermining the concept have annoyed investors, who are now putting pressure on the firm to embrace the concpt. A group of shareholders represented by the Nathan Cummings Foundation and Trillium Asset Management, has re-submitted a proposal expressing support of net neutrality, lack of support for "paid prioritization," and calling for Verizon management to comply.


Comcast, Time Warner shareholders approve deal, Lexington KY says no

10/09, 3:36pm

Majority of shareholders support merger, Lexington puts resolutions in play to stop transfer

Comcast and Time Warner Cable have jumped at least two hurdles on their way to merging into one company. This week the majority of Comcast and Time Warner Cable shareholders voted to approve the deal for the merger. However, it appears that another problem has surfaced with the government of second-largest city that Time Warner Cable serves.


Capcom buyout possible, shareholders fail to renew takeover defense

06/18, 8:33pm

Game company defense in place since 2008, majority number of bids not met

Video game developer Capcom may be left vulnerable to a stock buyout after shareholders failed to meet a majority number of votes to renew a takeover defense this week. Capcom first issued the takeover defense in 2008 to combat large-scale share purchases to gain a voice within the company. It was indicated that the company was looking to issue a renewal when it posted the 25-page plan in May.


Analyst: Expect 'modest' buyback, dividend increases from Apple

04/02, 6:22pm

Company likely to announce adjusted policies during next earnings call

Tech analyst Gene Munster of Piper Jaffray has told investors in a new memo that he expects "moderate" increases in both Apple's share-buyback program and its dividend to shareholders, likely to be announced during the company's next earnings call, scheduled for April 23. This belief, he noted, is already "priced into" shares of AAPL and is unlikely to take price any higher in and of itself. The current quarterly dividend, raised last year, is $3.05 per common share.


Sprint shareholders approve $21.6B SoftBank acquisition offer

06/25, 3:06pm

FCC last regulator to have say on Sprint-Softbank deal

Shareholders in Sprint have "overwhelmingly" approved the proposal by SoftBank to acquire with the carrier. A vote saw approximately 98 percent of votes cast in favor of the deal at a special shareholders meeting earlier today, which now leaves only the Federal Communications Commission as the last regulator to weigh in before the deal can be completed.


Judge: Apple proxy proposal may break SEC 'bundling' rules

02/20, 10:17am

Greenlight Capital suit may succeed on merits, but no injunction yet

In an initial hearing on the lawsuit between David Einhorn's Greenlight Capital and Apple, where the former party is attempting to prevent a shareholder vote on a "preferred stock" proposal, a judge has sided with Einhorn and found that Apple could be breaking US Securities & Exchange Commission rules by "bundling" three issues into one shareholder voting item. At the same time, the judge didn't indicate that he couldn't find any "irreparable harm" in the proposal, lessening chances of an injunction.


Apple files court response blasting Einhorn lawsuit

02/14, 2:30am

Claims 'roadblock' action designed to benefit only Greenlight

Apple filed its formal response to the lawsuit initiated by Greenlight Capital's David Einhorn and blasted the complaint as being without merit and nothing less than an attempt to hold shareholders "hostage" by forcing Apple to acquiesce to a specific plan for the issuing of preferred shares that would primarily benefit Greenlight Capital. Having promised to review Einhorn's plan, the company found that Greenlight's proposal was self-serving, and that Einhorn himself referred to it as a "roadblock."


Rumor: Apple to issue special year-end dividend?

11/29, 1:25am

Could boost stock price and avoid cap-gains increases

Based on the moves by several other companies including Costco -- or perhaps a bit of wishful thinking by shareholders -- Apple may be contemplating a special one-off dividend to help avoid any potential investor unrest in light of likely increases in the capital gains tax rate. Further reducing the company's enormous cash pile, which is growing faster than Apple can spend it on dividends or stock buybacks, might accomplish a hat trick of saving shareholders money, reducing its own tax liabilities and boosting its own share price.


Yahoo major shareholder accuses CEO of lying about degree

05/03, 6:10pm

Daniel Loeb owns 5.8 percent of company, wants to shake up board

Daniel Loeb, a major Yahooshareholder, is accusing CEO Scott Thompson of lying about his credentials. Loeb claims that Thompson does not have a bachelor's degree in computer science from Boston's Stonehill College. Yahoo's board was angrily informed of the discrepancy by Loeb on Thursday after they informed shareholders that Loeb wasn't fit to run the company.


Apple board urges shareholders to reject eco proposals

01/12, 11:00pm

Proposals spearheaded by activist group As You Sow

Apple's board is urging its shareholders to reject several proposals focused on environmental efforts. The company's annual proxy statement includes the board's recommendations for votes on seven proposals. Proposal No. 6, which will be submitted by John Powers from the activist group As You Sow, seeks to establish a sustainability report detailing information such as greenhouse gas emissions and toxic materials, while addressing employee and product safety.


Apple board tries to boost shareholder confidence

02/25, 10:00pm

Apple board reassuring

Apple's board members at the annual shareholders meeting tried to boost investor confidence in the company despite Steve Jobs' absence. "I'm confident in the future of the company," said COO Tim Cook, the executive filling in for the CEO during his leave of absence. Cook also reminded the audience that Jobs still plans on returning to company after June.


Yahoo letter clarifies Google, Microsoft deals

06/26, 12:45am

Yahoo clarifies deals

Yahoo CEO Jerry Wang and Chairman Roy Bostock on Wednesday sent a letter to shareholders explaining the June 12th deal with Google, as well as clarifying its negotiations with Microsoft, who recently made a bid for the search and advertising giant. Yahoo writes that the "carefully structured" agreement with Google will add $250 to $450 million in incremental operating cash flow for the company during its first year of operation.


Apple talks Jobs successor, games, more

03/04, 9:55pm

Shareholders question Jobs

Apple shareholders today produced a plethora of questions for company executives at its annual shareholders meeting in Cupertino, CA. Taking that stand was CEO Steve Jobs, COO Tim Cook, and Ron Johnson -- Apple's head of retail operations. Jobs and others answered questions regarding the prospect of entering into direct competition with Microsoft in the PC gaming industry, potential .Mac expansion, iTunes media availability, the idea of a successor to Steve Jobs, iPhone availability in Asia, Macs in the business realm, Apple retail stores, and more, according to AppleInsider.


Shareholders approve 'say on pay' proposal

03/04, 5:10pm

Apple shareholder meeting

Apple shareholders today approved a non-binding resolution requesting the board of directors to provide shareholders with input on executive compensation. The proposal required a majority of votes from shareholders to pass, while another shareholder proposal to create a board committee on sustainability and environmental protection was rejected, according to Scott Adams, who represents the AFL-CIO, asked shareholders to demand a "say on pay" as a result of uncontrolled executive compensation.


Apple's cash could benefit investors

02/29, 4:40pm

Apple's cash reserve

Apple's cash reserve of $18.5 billion could benefit shareholders in a big way moving forward, according to BusinessWeekcolumnist Arik Hesseldahl. The cash amounts to $21 for each share of company stock, and Hesseldahl believes Apple should return some of that money to shareholders in the form of a buyback. "The time to buy back Apple stock is now," he writes. Shares are 40 percent below a historic high, and Wall Street is focusing on concerns that Apple will suffer as the economy slumps.


Yahoo board torn over proposed MS takeover

02/15, 6:05pm

Yahoo board torn

Yahoo's board of directors is torn between those seeking profit and others who would make an emotional decision to reject Microsoft's buyout attempt, according to sources cited by a report from the New York Post online. Yahoo chief Jerry Yang and several followers are allegedly seeking an alternative to Microsoft's takeover bid of $44.6 million, and could act out of emotion rather than their fiduciary duty to the company's shareholders. "The emotional part of Yang would rather do anything but sell to Microsoft, but he doesn't have the cards to come up with a value-creating, competitive alternative for shareholders," said one source.


Yahoo shareholders sue, Microsoft shuffles

02/15, 1:45pm

Yahoo sued by shareholders

Microsoft's attempted acquisition of Yahoo! has gotten a bit more contentious. Bloomberg reports that a group of Yahoo shareholders have jointly filed a lawsuit against the search company for rejecting the $45 billion offer from Microsoft. Michigan's Wayne County Employees' Retirement System, which owns a relatively small 13,000 block of shares of Yahoo claims in the suit that the company failed to enter into substantial negotiations with Microsoft. "The board of directors is continually evaluating all of its strategic options. Our board believes the Microsoft proposal substantially undervalues Yahoo," Yahoo spokesperson Diana Wong told Bloomberg.



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