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Thursday, April 24, 2003
17:35 - What a Learjet buys us
http://www.thinksecret.com/news/shareholdersmeeting03.html

(top) link
Some of the questions-and-answers from today's Apple shareholders' meeting are pretty entertaining (forwarded by Kris):

-An inquiry about proposal one, re-electing the board of directors, asked if there really was any choice at all in the re-election of the board, since Apple's shareholder notice notes "The six nominees for director receiving the highest number of affirmative votes of the shares entitled to be voted for them shall be elected as directors." There were a total of six nominees. Heinen said that people did have the option of not voting. Jobs then commented that he received 83% of the votes to be re-elected, the highest second to Al Gore who received over 90%. Gore added, "Does it matter who has the most votes?" which sent the crowd into laughter.

-A person expressed concern over dealership contract renewal . Cook responded saying that dealerships representing less than 0.2% of Apple's revenue didn't re-sign. He also said that some dealerships re-signed after the deadline, and that the number of signed-on dealerships will only go up with time. Jobs added, humorously, that 100% of the Apple Retail stores decided to renew their contracts.

-A woman asked about increasing market share, and what steps to take if one identified possible large corporate sales opportunities for Apple. Fielding the second question first, Jobs made Cook provide his e-mail address to shareholders, so that he could handle their suggestions about enterprise sales opportunities -- tcook@apple.com. Fred Anderson then answered the first question explaining that the Switch campaign has been working, and that among the consumer segment Apple has doubled its market share, based on information from IDC.

-The acquisition of Virtual PC by Microsoft was raised by one shareholder. Jobs said that Apple's relationship with Microsoft is good and that Microsoft likes Safari. He also noted that VPC has been moved to the Mac Business Unit at Microsoft and that Microsoft acquired the software not so that it could get VPC itself, but its underlying technology. Jobs said Apple has talked with Microsoft, and Microsoft promises to continue the software. Jobs also suggested that the price might drop since royalties on Windows no longer have to be paid.

Hyuck, hyuck, Al. That's one helluva shareholder mandate he seems to have gotten, though.

I'm sure there's a good reason for him to be on Apple's board. Otherwise why would all these people have voted for him?

I mean, there's got to be, right?

Wait a minute. Doubled its market share? You've gotta be kidding me.

What, we're up to 2% now?



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© Brian Tiemann