08.02.2011 (661 Days Ago)
| Title | Apple has more cash than the U.S. Government |
Apple now has more cash than the U.S. Government
“Steve Jobs is now more liquid than Uncle Sam,” Matt Hartley reports for The Financial Post. “It became a fact as of Thursday afternoon — the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.”
“As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion,” Hartley reports. “Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.”
Hartley reports, “Apple’s market capitalization currently stands at US$363.25-billion, making it the second largest company on the planet, after Exxon Mobil.”
This must be why these corporations have so much influence on U.S. government policy. Can you say "Koch Industries"?
I hope you'll join us in avoiding these "Pure White" Koch Brothers products...
Full article here.
