So by now everyone that owns Apple stock is rejoicing in the dividends that are coming their way.
But I have to ask myself is there not something fundamentally wrong with how they doing this.
Sure its all legal, its brilliant business strategy while the rules are what they are and in business you have to play with all the cards in the deck.
However when they become "too big to fail" who is going to be saving them. They borrowing 17 B for Billion $$$, sure they have more than enough cash offshore to back it.
There surely is a fundamental issue here that this whole exercise of theirs illustrates that needs to be addressed and not just in their case but on a global scale. Surely they should be legally bound to bring back their loot and pay their fare share to the government of the country where these corporations got their start and contribute in a socially responsible manner (not in public relations spin of how they support some or other charity or NGO ) to the coffers of said country.
We have seen the heat put on woodworking for issues such as sustainability and environmental damage or in Canada huge global pressure was put on seal hunting over seal pelts but this Joe public thinks there is something wrong here when gov's around the world find themselves in debt up to their eyeballs and certain places have unemployment that's beyond what most people can begin to grasp, I have to ask is it not time we started to have the guts to boycott the products of companies that conduct themselves in this manner.
They even get a tax break factored into the interest that their offshore cash earns. Someone tell me how this concept is sustainable.
I guess the problem is while pop culture spend time twittering about whatever a rock star said as some place or other and have their heads stuck in a video game, life is bliss. Way to go Angry birds. What a great contribution to mankind.