After Apple's latest results, a politician asks Apple to lower prices

Apple presented results days ago and exceeded expectations. Among other consequences, the share price rose to highs and the company announced the repurchase of shares for $ 100 billion.

Not everyone is equally satisfied with the good evolution of Apple. Among them is the politician Ralph Nader, who has written a letter to Tim Cook in which he asks for a reflection and suggests lowering the prices of his products. The paper was published and you can know its content, where it explains how there are better ways to manage Apple's huge profits. 

In the letter, Nader, asks Cook to consult shareholders on these types of actions for approval: 

Last week, it announced the largest individual share buyback in corporate history, amounting to $ 100 billion. Probably no more than you and two other Apple executives made this decision before receiving the seal of approval from your board of directors. The owners of his company, Apple shareholders, were not asked for approval.

Among other Nader proposals, there is distribute part of the profits among Foxconn workers. This measure would be highly valued by workers who perform their work in difficult working conditions, some unable to buy the phones they manufacture.

A second proposal is allocate this re-purchase of shares to research and development, especially aimed at improving the supply chain.

You can invest in research and development to lessen the effects of your company's toxic supply chain, which stretches from hazardous mines in Africa to hazardous solid waste disposal, when users discard them. Many serious illnesses, deaths, and injuries associated with the manufacture of your products are preventable.

Finally, asks you to reduce the price of your products, claiming that such benefits allow Apple to direct the market without the competition being able to react to its rival.

Of course, you can always lower your prices for consumers. In the 1960s and 1970s, profit margins like Apple's would have been an antitrust signal of possible monopoly or market collusion practices.

This message can be understood from a point of view of political populism, or give some reason to the words of Ralph Nader.


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