Apple Rejects Proposals To Produce Detailed Company Sustainability Reports, Green Board Committee

[hatrack]

CUPERTINO, Calif. — Apple Inc., buoyed by the success of the iPhones, iPods and computers it churns out to breathless buyers, could give some of its $25 billion in cash back to shareholders. But CEO Steve Jobs said Thursday that he thinks Apple is better off keeping that money stockpiled.

At the company's annual meeting, one shareholder asked Jobs whether the company would use some of its hoard to pay a dividend. Jobs didn't seem keen on the idea, saying the cash gives Apple "tremendous security and flexibility." If Apple decides to acquire another company, it can do so by writing a check instead of borrowing money, he said. "Who knows what's around the next corner?" he said.

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During the meeting Apple shareholders rejected two proposals that sought to force the company to do more to analyze its impact on the environment. One proposal would have asked Apple to produce a detailed environmental sustainability report. The other called for a board committee focused on sustainability. Apple, which had opposed the measures, said investors rejected the proposals but did not give voting percentages.

Responding to shareholder questions about Apple's environmental record, Jobs pointed to several steps he said the company is taking, such as getting suppliers to make products with nontoxic materials and reducing waste by cutting down on extraneous packaging.

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http://www.huffingtonpost.com/2010/02/25/apple-environmental-measu_n_477108.html