NOVEMBER 1, 2011
BRUCE A. BRENNAN BLOG FROM THE WORLD AND MY MIND
The news as I see it and the views as I want them.
November 1 is … Plan Your Epitaph Day
Steve Jobs planned his quite well.
Ross and Heather, soon you will be together for all the stormy weather! Heather, you will soon be connected to Ross by a tether.
Hello to all of the saints in the world.
On Monday, the world’s population hit 7 billion people meaning Apple could give everyone in the world $37.00 and have some money left over. The world’s population has tripled since the end of WW II.
On Wednesday, Apple disclosed to the SEC as part of their Form 10-K filing, that they currently have $81,570,000,000 in cash, 13.2 million square feet of building space, and 60,400 full-time employees.
"This means that Apple pulled in $37.5 billion in cash profits in fiscal 2011. Not bad for a company that ‘missed’ industry estimates." writes The Next Web.
During Apple's earnings call in October, Tim Cook waved off Apple's mountains of cash, saying they weren't "burning a hole in our pocket" reports MacRumors. He went on to emphasize that Apple was in no rush to decide what to do with the money, and that he was not "religious about holding or not holding cash." Apple's CFO said that 66 percent of the cash was kept overseas for tax reasons.
But $81.5 billion is a lot of cash no matter where you keep it. In fact, it's more cash than the U.S. government has. In their last Form Q-10 filing in July, Apple reported that they had over $75 billion in cash, whereas the government had less than $74 billion, according to the Financial Post. While Apple may be a notorious cash hoarder, despite what Tim Cook says, it's not as though Apple has millions of dollars lying around like a scene in "Scarface." According to the 10-K report, that $81.5 billion is made up of "cash, cash equivalents and marketable securities." This means that only some of it is in cash, and the rest is in either short or long-term investments.
But what if they did have it in cash? What could Apple do with that $81.5 billion? They could pay for the U.S. to gather intelligence for one year, or fund the National Cancer Institute for almost sixteen years, or send over four-hundred thousand people to space.
Michelle Bachmann is unelectable but some of her ideas, often portrayed as extreme by the liberal media, have value. Michelle Bachmann said Saturday she would not help children of immigrants who come to the U.S. illegally. At a campaign stop in Iowa, a Latino college student asked the presidential hopeful what she would do to the children of undocumented immigrants. Bachmann reiterated her hard-line stance that the federal government should not grant them citizenship and said she "would not do anything" for them.
"Their parents are the ones who brought them here ... they did not have the legal right to come to the United States," she said. "We do not owe people who broke our laws to come into the country. We don't owe them anything."
When the subject turned to immigration at another campaign stop that day, Bachmann suggested passing a law that would bar citizenship to children born in the U.S. to parents who are undocumented immigrants. "We've got to end this anchor baby program," she said.
When asked during the Republican presidential debate in Las Vegas if she supports repealing the 14th amendment, Bachmann responded that the issue doesn't have to be dealt with constitutionally, but can be addressed with legislation. "There are a lot of Americans that would like us to deal with this issue of anchor babies legislatively," she said.
Just a couple of thoughts I had and you should too or at least think about.
BRUCE A. BRENNAN
DEKALB, IL 60115
VISIT ANY OF THE SITES LISTED FOR REVIEW, RESEARCH, ORDERING MY WRITING PRODUCTS OR TO CONTACT ME.
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Holmes the Ripper
A Revengeful Mix of Short Fiction
"What do we mean by patriotism in the context of our times? I venture to suggest that what we mean is a sense of national responsibility ... a patriotism which is not short, frenzied outbursts of emotion, but the tranquil and steady dedication of a lifetime." - Adlai Stevenson