There's only one small problem, winner. Tim Cook did not tell his share holders anything of the kind! He spoke to one specific share holder, Justin Danhof, of the NCPPR, who was demanding that Cook make a commitment the he would only support "projects and actions" at Apple that would have a positive impact on Apple's Return on Stockholder Investment . . . This was after the stock holders' had voted down the essentially the same proposal by the same stockholder's organization demanding essentially the same thing by a vote of 97% "NO" to 3% "YES," just a few hours earlier at the general session. The stockholder's group representative was attempting to make an end run around the will of the stockholders by getting the CEO to repudiate their vote.
Looking directly at Danhof, Tim Cook heatedly explained Apple's position and then suggest that the group Danhoff represented should invest elsewhere. The organization then made a press release taking Cook's comments out of context, mis-representing what he said, both making his comments specific to "global warming" and claiming his advice to get out of Apple stock was to everyone who disagreed with AGW, and not specific the his organization. The punditry picked up this press release version and ran with it.
Here is a report from someone who was there and saw and heard everything:
Tim Cook Soundly Rejects Politics of the NCPPR,
Suggests Group Sell Apple’s Stock
By Bryan Chaffin
Feb 28th, 2014 4:52 PM EST | EditorialIn an emotional response to the National Center for Public Policy Research (NCPPR), Apple CEO Tim Cook soundly rejected the politics of the group and suggested it stop investing in Apple if it doesn't like his approach to sustainability and other issues.
Apple CEO Tim CookMr. Cook's comments came during the question and answer session of Apple's annual shareholder meeting, which the NCPPR attended as shareholder. The self-described conservative think tank was pushing a shareholder proposal that would have required Apple to disclose the costs of its sustainability programs and to be more transparent about its participation in "certain trade associations and business organizations promoting the amorphous concept of environmental sustainability."
As I covered in depth yesterday, the proposal was politically-based, and rooted in the premise that humanity plays no role in climate change. Other language in the proposal advanced the idea that profits should be the only thing corporations consider.
That shareholder proposal was rejected by Apple's shareholders, receiving just 2.95 percent of the vote. During the question and answer session, however, the NCPPR representative asked Mr. Cook two questions, both of which were in line with the principles espoused in the group's proposal.
The first question challenged an assertion from Mr. Cook that Apple's sustainability programs and goals—Apple plans on having 100 percent of its power come from green sources—are good for the bottom line. The representative asked Mr. Cook if that was the case only because of government subsidies on green energy.
Mr. Cook didn't directly answer that question, but instead focused on the second question: the NCPPR representative asked Mr. Cook to commit right then and there to doing only those things that were profitable.
What ensued was the only time I can recall seeing Tim Cook angry, and he categorically rejected the worldview behind the NCPPR's advocacy. He said that there are many things Apple does because they are right and just, and that a return on investment (ROI) was not the primary consideration on such issues.
"When we work on making our devices accessible by the blind," he said, "I don't consider the bloody ROI." He said that the same thing about environmental issues, worker safety, and other areas where Apple is a leader.
As evidenced by the use of "bloody" in his response—the closest thing to public profanity I've ever seen from Mr. Cook–it was clear that he was quite angry. His body language changed, his face contracted, and he spoke in rapid fire sentences compared to the usual metered and controlled way he speaks.
"We do things because they are right and just and that is who we are. That’s who we are as a company. I don’t…when I think about human rights, I don’t think about an ROI. When I think about making our products accessible for the people that can’t see or to help a kid with autism, I don’t think about a bloody ROI, and by the same token, I don’t think about helping our environment from an ROI point of view."—Tim Cook, Apple CEO, response to NCPPR Executive Director Justin Danhof, from Apple Annual Meeting 2014 transcript.—inserted by Swordmaker.He didn't stop there, however, as he looked directly at the NCPPR representative and said, "If you want me to do things only for ROI reasons, you should get out of this stock."To me, it was a clear rejection of the group's politics, especially the anything-for-the-sake-of-profits mentality the NCPPR was asking him to embrace. It was also an unequivocal message that Apple would continue to invest in sustainable energy and related areas.
[Update: The last paragraph originally said that Mr. Cook rejected the climate change denial of the group. That was intended as a line item about the group, which Mr. Cook was categorically rejecting, but the specifics of his answer weren't focused on that aspect of either their question or overall message. I clarified it accordingly.]
The NCPPR press release completely misrepresented what happened and what was said at the Apple meeting. Here are the first four paragraphs (and some choice excerpts) of the NCPPR press release:
Tim Cook to Apple Investors: Drop Dead Apple CEO Tim Cook tells Investors Who Care More About Return on Investment than Climate Change: Your Money is No Longer Welcome
As Board Member Al Gore Cheers the Tech Giant’s Dedication to Environmental Activism, Investors Left to Wonder Just How Much Shareholder Value is Being Destroyed in Efforts to Combat “Climate Change”
Free-Market Activist Presents Shareholder Resolution to Computer Giant Apple Calling for Consumer Transparency on Environmental Issues; Company BalksCupertino, CA / Washington, D.C. – At today’s annual meeting of Apple shareholders in Cupertino, California, Apple CEO Tim Cook informed investors that are primarily concerned with making reasonable economic returns that their money is no longer welcome. . .
. . . “The company’s CEO fervently wants investors who care more about return on investments than reducing CO2 emissions to no longer invest in Apple. Maybe they should take him up on that advice.”. . .
. . . After initially suggesting that the investments make economic sense, Cook said the company would pursue environmental goals even if there was no economic point at all to the venture.. . .
. . . “Although the National Center’s proposal did not receive the required votes to pass, millions of Apple shareholders now know that the company is involved with organizations that don’t appear to have the best interest of Apple’s investors in mind,” said Danhof. “Too often investors look at short-term returns and are unaware of corporate policy decisions that may affect long-term financial prospects. After today’s meeting, investors can be certain that Apple is wasting untold amounts of shareholder money to combat so-called climate change. The only remaining question is: how much?. . .
Because this press release was the sole source for the story until MacObserver's Bryan Chaffin's dissenting eyewitness and other reports cited the transcript and recordings showing the lies, the ledes you read above is what was picked up by most punditry. . . and most mainstream news reporters and used by them as the basis of their stories. . . and most ALSO picked up the "drop dead" line as though it was directed to all conservative anti-AGW stockholder as a quote!
Winner, do you find any of what's in the press release lede in Tim Cook's reported actual comment's to Justin Danhof? No, and you won't because the press release implied quotes are exaggerated beyond recognition. . . as is the cheering Al Gore claim. . . although I can picture the winner of the Nobel Idiot Prize doing that.
The NCPPR press release is sheer hysterical propaganda and too many fell for it.
The facts are that Apple's investment in sustainability does aid the ROI. . . which Tim Cook had already stated before being challenged by Danhof. and many of Apple's facilities are self-sustained electrically, and in many instances are selling surplus power to the local grid. Apple's goal is for all company facilities to be self-sustained. . . eliminating that high utility cost.