From Apple's financial statements available on their web site, as of =
June 2002 they have:=20
- $1.2 billion in cash and cash equivalents
- $3.02 billion in short term investments=20
Together, this usually gets reported as Apple's $4+ billion in cash =
reserves. It is _very_ common for tech companies to try and keep large =
cash reserves around. Microsoft is around $35-$38 billion.=20
I completely agree with others here that Apple pulled an unethical move =
-- possibly illegal? -- by switching iTools from a free to fee based =
service. At the very least, they should have stopped any new iTools =
accounts and grandfathered in existing users, while all new purchases =
would have to use the .mac fee based service.=20
This mane our creates a horrible amount of ill will with current iTools =
users. It's tarnished my opinion of Apple and the Mac experience. As an =
advocate among my family, friends and co-workers for the Mac (and =
Newton!), this is the first time I've begun feeling apathetic about the =
Mac.
-Stephen=20
-----Original Message-----
From: Keith E. McComb [mailto:kinsfire_at_kinsfire.net]
Sent: Friday, July 19, 2002 1:28 PM
To: newtontalk_at_newtontalk.net
Subject: Re: [NTLK] Geez people, freaking get over it
At 01:10 PM 7/19/2002, you wrote:
>But if Apple keeps doing things like this, there won't -be- a next
>iBook. Apple has a war chest in the billions; it's not going to dent
>seriously to live up to what many people expected.
I've kept out of this one up 'til now, but this comment got me.
I assume you can prove this comment that they have billions of dollars=20
simply waiting around to be used - as you phrase it "a war chest"?
Have you ever run a business before? (I don't ask this snidely - it's =
an=20
honest question.) I'm in the process of setting up a publishing =
business,=20
and I am astounded at the stuff I never realized you needed to worry =
about=20
- and every single worry costs a dollar amount. (Being America-centric=20
here, since I live in NJ, and will be setting the business up there.) =
I'm=20
not even contemplating the extra money required in a tech business, =
since=20
I'm not setting up my company to design/sell computers.
I think what you may have meant here is that the company is worth =
billions=20
on paper. However, that money is all virtual. As active, ready cash, =
I'll=20
bet that number is lower by orders of magnitude. Remember, there's R&D, =
there's a simple thing called paychecks, there's electricity, taxes, and =
in=20
case they happen to not own the actual land their buildings sit on,=20
rent...need I go on? Name me a single company that has available cash =
in=20
the billions - I'm betting there isn't one. Remember, you can say that=20
they have assets in the billions, but that doesn't equate to being able =
to=20
dip your hand into the till and pull that money out.
Keith McComb
=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D=
-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D
Would somebody PLEASE reboot the clue server?
=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D=
-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D-=3D
--=20
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