In a paper called “Apple’s Changing Business Model,” to be published in the December edition of Accounting Forum, the academic team led by William Lazonick, director of the Center for Industrial Competitiveness at the University of Massachusetts Lowell, concludes that Apple is already undergoing a personality downgrade. “Captured by shareholder value ideology, Cook and his top executive team have opted to support value extraction rather than value creation … In other words, Apple is becoming a typical American corporation,” they write. (...) In March, Warren Buffett, one of the greatest value creators of all time, used a CNBC interview to give some unsolicited advice to Mr. Cook, who was then being hounded by Mr. Einhorn. “I would ignore [Einhorn],” he said. “I would run the business in such a manner as to create the most value over the next five or 10 years. You can’t run a business to try and run the stock up every day.”
Posted on: Sun, 01 Sep 2013 01:43:20 +0000
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