California Governor Gavin Newsom today unveiled a new business recovery task force intended to guide the state as it gets its economy back up and running as coronavirus shutdowns begin to ease in the coming weeks and months, reports CNBC.
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The task force will be co-chaired by philanthropist Tom Steyer and Newsom's chief of staff Ann O'Leary, and it will be composed of more than 70 members including Apple CEO Tim Cook and Disney Executive Chairman Bob Iger.
The task force will reportedly meet twice a month through the end of the year.
Cook's participation on the task force comes just after a virtual company-wide meeting for Apple employees where Cook outlined some details on the current situation and how things will likely evolve going forward. Cook reiterated that Apple is in a strong financial position and that it will keep investing in its research and development efforts "in a really significant way" as it seeks to maintain as much momentum as possible coming out of the crisis.
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And all Californians can be thankful that someone with your complete lack of knowledge of economics and money management is not on the task force. The world is a little more complex than you perceive it to be. "Debt is bad" is an ideology, not a practical rationale for managing finances.Hopefully Cook tells Newsom that he recommends ALL public companies in CA should be Forced to Pay Off ALL their Long Term Debt BEFORE buying Back any more Shares, OR paying out any more Dividends !
And that Apple will lead the way by paying-off its $100B+ (USD) of Long Term Debt !
Speaking of history how did the U.S. deregulation of the banking industry work out for the entire world in 2008? And why do tax breaks always seem to benefit those who least need them and not the most vulnerable? If only it was all as simple as you imagine it to be."Business recovery task force?" You need a task force to figure out the best way to improve your economy is to get the hell out of its way? Stop strangling people with absurdly high taxes, and ridiculous regulations and regulatory agencies? Is it that difficult to figure out after all that history?
I'm guessing you are not aware that Apple has around 37,000 employees in California. And that Tim Cook, being the CEO of Apple and responsible for those 37,000 employees, thus has a large stake in how California's recovery is handled.Good. Now leave Apple and stay in politics... It's what you've stuck your nose into for the past decade plus anyway.
You're saying Apple needs to spend their money to reduce debt with the lowest interest rates, instead of reducing higher effective interest rates, or investing in their business. Right.Hopefully Cook tells Newsom that he recommends ALL public companies in CA should be Forced to Pay Off ALL their Long Term Debt BEFORE buying Back any more Shares, OR paying out any more Dividends !
And that Apple will lead the way by paying-off its $100B+ (USD) of Long Term Debt !
Do you also pay off your mortgage before your credit cards?
No worries, mate. Mr. Cook is doing a fine job leading Apple, as evidenced by the hundreds of millions of repeat customers who after considering competing products, open their wallets and pay premium prices for Apple computers and devices. Year after year after year.Ideal job for Tim, not that we'd like you to leave Apple Timmey, but if you can let someone with a bit of product innovation ambition lead, consumers would benefit a bit more.