This kind of stuff deeply annoys me. Yes, I understand Apple's fiduciary responsibility and I understand that technically, Einhorn may have a point.
But it annoys me that this is what companies deal with when they go public. Everyone thinks they're a manager now because they own some shares.
Are you not happy with the amount of money Apple is making? Are you not happy with their level of innovation? Their products? Then divest yourself of their shares.
We hire management teams to run companies. Let them do their job. I know, I know, again - technically as a shareholder you have a right to have a voice and yadda yadda yadda but lawsuits like this are exactly what public CEOs talk about when they say that they dread running public companies and can't take a long-term view because shareholders only care about quarter-by-quarter performance.
But it annoys me that this is what companies deal with when they go public. Everyone thinks they're a manager now because they own some shares.
Are you not happy with the amount of money Apple is making? Are you not happy with their level of innovation? Their products? Then divest yourself of their shares.
We hire management teams to run companies. Let them do their job. I know, I know, again - technically as a shareholder you have a right to have a voice and yadda yadda yadda but lawsuits like this are exactly what public CEOs talk about when they say that they dread running public companies and can't take a long-term view because shareholders only care about quarter-by-quarter performance.
Annoying.