Breaking news: Apple buys US Government, Jobs fires Obama; replaces him with GoreJuly 29, 2011
OK, not quite. I got to thinking about it because I read that Apple currently has more cash on hand than the US Treasury. What is actually interesting about the linked LA Times piece is that it notes that many companies have been holding onto cash because of the uncertainty of the economy.
And when did that occur? Yes, it started before the 2008 election, but just before. I said then that companies would hunker down, hoard cash, and not hire, in fear of new taxes they expected to come from the Obama administration. Then came Obamacare, which hasn’t helped that uncertainty at all. Neither has the stimulus, nationalization of industries, increases in regulation, and now this little argument in Congress. If I had a company and had cash, and absolutely didn’t have to hire, I would hunker down and wait for the 2012 elections, too.
And Algore? Isn’t he still on Apple’s board? I’m sure he’s still grumbling about the 2000 election. At least then all this crap about corporate jets should end…