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Will from more news on breaking add breaking news from apple shareholder meeting we go back to Adam Shapiro who is lives.
So Latino with reaction from calpers as well one of the proxy.
Again items have on net on vote today on the -- and it did end up getting approved Adam.
That's right and that joining us first on fox is and -- and she's the senior portfolio manager from calpers and it was calpers last year which actually brought this issue which passed but now the board.
Has decided it actually is going to happen majority but why is this.
The positive thing that you wanted to see from apple.
Well because sap alleging the right thing and they've had a very strange role on the folks which many other companies.
Same way it should be brought by against the Texas now they -- we don't want to the company staying wonderfully well but this is on the back to Tbilisi.
About basic good governance and that's what we want -- to -- -- senate which delights of the of the -- in this.
But I would take account our position Steve Jobs -- this companies have been an -- danced with a board that he preferred not attend meetings.
Does that allow what you know brought about does -- allow this company to go forward with the kind of stellar focus.
That they had in the past.
-- -- -- -- They're pretty -- -- as -- spent ten with one voice to the choir voices saying.
Do the right thing on governance and last June we had had a 70% to the China.
This year has been an 18% to device -- and so you know what amounts to fifty compelling results.
Now want to bring up the dividend issue -- you because there was a shareholder who suggested perhaps a preferred dividends.
Tim Cook responded to the ninety.
Billion dollars in cash they have on the side saying the company has warned that enough money to run itself.
Why not -- some of that money to shareholders you don't wanna dividend -- not.
Well how -- -- is different we look at the long time.
If the companies that -- a cash dividend is one thing you can do with it but their office so what we've got to news that the board is actually thinking on time thinking about -- -- Number one other shareholder from 'cause -- -- -- by Greece -- that -- mold and more than one insisting I doubt that's I would just glad that the -- engaging with this issue.
-- also should point out for people who are looking for future investment and thinking of apple they made -- But its statement -- to put that they're not at least right now.
Looking to purchase as they have done in the past.
I'll contact providers say enough for the video realm -- that's not something that Apple's interest it and where is that something -- were glad to hear that the money will be used for that.
Not our view is that we want the board to have the talent around the table.
We're on the -- to be accountable and and we want to both -- seems not I think about long term strategy now what you find why and what you do with cash.
This is old.
-- seeing that.
Good material -- to.
-- getting to -- that it had seconds to Tim could keep the management team that he inherited from Steve Jobs if they lose people like say Scott -- while -- -- -- Precisely what's on his mind.
Had to keep mr.
I am sure all that that -- we have quite confident that if the board is in the right place.
Now let me see what management staying -- this time management issues and poll for any company to show AdSense sense from -- we appreciate you being here first on fox about it.
About it brought back to you.
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