On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1440 AM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
72° Feels Like: 72°
Wind: NW 8 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Partly Cloudy 55°

Tomorrow

PM Thunderstorms 77°

Tues Night

Scattered Thunderstorms 54°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Apple shareholders should reject Icahn's buyback proposal: proxy advisor

A clerk arranges Apple's iPhone 5C phones on racks bearing the logo of China Mobile, at a mobile phone shop in Beijing December 23, 2013. RE
A clerk arranges Apple's iPhone 5C phones on racks bearing the logo of China Mobile, at a mobile phone shop in Beijing December 23, 2013. RE

SAN FRANCISCO (Reuters) - Proxy advisory firm Egan-Jones advised Apple Inc shareholders on Friday to reject activist investor Carl Icahn's demand that the iPhone maker expand its stock buyback program, a proposal that will be put to a vote this month.

"The board and management team have demonstrated a strong commitment to returning capital to shareholders over the past two years," the firm, the smallest of the three major proxy advisory outfits, said in a report obtained by Reuters on Friday.

Icahn is waging a campaign to get Apple to return more cash to shareholders and has filed a resolution proposing that it gives back $50 billion more through share buybacks. That proposal will be put to a vote at Apple's Feb 28 shareholders' meeting.

(Reporting by Edwin Chan; Editing by Bernadette Baum)

Comments