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      Apple Should Be a Leader in Charitable Giving

      Apple Should Be a Leader in Charitable Giving

      Apple's financial performance is unrivaled among American companies, but it's very far from being a leader in corporate giving, as measured by the ratios of giving to pre-tax profits and stock buybacks.

      Ralph Nader
      Apr 30, 2023

      Here is a letter that Steve Clifford and I sent to the CEO Tim Cook of Apple corporation, whose percentage of charitable giving relative to its taxable income is astoundingly low as compared to other corporations noted below. Apple should increase its charitable giving.

      April 24, 2023

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      Apple
      Alan Shaw, president and CEO of Norfolk Southern, testifies before the Senate Environment and Public Works Committee on March 9, 2023.

      Norfolk Southern CEO Refuses to Commit to Giving Workers 7 Paid Sick Days, Halting Stock Buybacks

      Questioned at a Senate hearing on the East Palestine disaster, Alan Shaw also wouldn't agree to end "precision-scheduled railroading," a Wall Street-led profit-maximizing approach that critics say endangers communities nationwide.

      Kenny Stancil
      Mar 09, 2023

      Thursday's U.S. Senate hearing about the ongoing environmental and public health disaster in East Palestine, Ohio "did not go well" for Norfolk Southern president and CEO Alan Shaw, the progressive media outlet More Perfect Union declared.

      Shaw refused to commit to providing workers with seven days of paid sick leave, ceasing stock buybacks, and abandoning Wall Street-endorsed policies that critics say contribute to the 1,500-plus derailments seen each year in the U.S., including Norfolk Southern's toxic crash near the Ohio-Pennsylvania border last month as well as a derailment that happened in Alabama just before the multimillionaire executive testified.

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      ohio train crash
      Warren Buffett, the chairman and CEO of Berkshire Hathaway, rides in a golf cart

      Why Warren Buffett Is Wrong and Joe Biden Is Right About Stock Buybacks

      Companies don't get better because of buybacks. Shareholders only get richer.

      Robert Reich
      Mar 06, 2023

      Warren Buffett, one of the richest people in America, defended stock buybacks in his highly anticipated annual letter to Berkshire Hathaway shareholders, released a few days ago.

      “When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).”

      Buffett may be correct about buybacks being good for shareholders, for the simple reason that each remaining outstanding share has more corporate profit behind it.

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      Opinion
      stock buybacks
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