Arthur Levitt and Apple's Board

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By jonkai
April 16, 2003

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I just learned that Apple offered Arthur Levitt a seat on the board last year, only to pull the offer, after finding out how pro-Shareholder he was.

Arthur Levitt (the former head of the SEC) is probably the biggest pro-Shareholder person there is nowadays; he would have been perfect. He not only knows exactly how Wall Street works, he knows all the tricks in the book, and what to look for. He could have single-handedly brought Apple into a position of the most shareholder friendly company there ever was.

I am disgusted with Apple for losing such an opportunity. He would have been perfect.... and this shows how un-shareholder friendly Apple has become; be very wary of this company.

They are treating shareholders like stepping stones instead of full partners; write an email to Apple and tell them what you think of such a decision.

I also found out from the same source (his book) that the Motley Fool deserves full credit for bring about the passing of the Reg FD that made it possible for all investors to get information at the same time, with no favoritism to select analysts.

Motley fool organized a letter writing campaign to Senators, and the key Senator on some committee was swayed by this single act, or the Reg FD would not have been supported.

So, TMF has contributed greatly to a fairer playing field, and I want to thank them for that single act.

Lets hope when ESOs need to be included in earnings calculations, [they] will meet a similar fate when the time comes in about a year.


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