Quoted – Icahn Turns His Powers of Persuasion on Tim Cook – ECommerce Times

Image representing Apple as depicted in CrunchBase

Image via CrunchBase

Despite Carl Icahn‘s declarations that he’s interested only in what’s best for Apple’s investors, the self-proclaimed champion of “real corporate democracy” has his doubters.

Why add to Apple’s debt to pay for the buyback when it’s sitting on so much cash?

“A lot of the cash is overseas, and if you brought it back to the United States for a buyback, it would get taxed at a very high rate,” business professor Scott Testa told MacNewsWorld.

“Since it’s so cheap to borrow money, it makes no sense to bring the money back into the United States and get killed from a tax perspective,” he added.

http://www.ecommercetimes.com/story/Icahn-Turns-His-Powers-of-Persuasion-on-Tim-Cook-79268.html

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