Apple CEO Time Cook and CFO Peter Oppenheimer Come Under Grilling By Chairman Carl Levin
Chairman Carl Levin slammed Apple CEO Tim Cook, who made the unwise decision of using a quote from President Kennedy. Levin brought up a quote from Kennedy that basically said that Apple’s current tax strategy was wrong.
Levin then started his questioning and Tim Cook and CFO Peter Oppenheimer grew very reserved compared to their bombastic opening statement. Levin got both Cook and Oppenheimer to agree that Apple’s foreign subsidiaries were headquartered and managed in the U.S. Oppenheimer attempt to hide behind legal definitions but Levin pressed on, getting yeses. Cook agreed, trying to hide behind legal ignorance.
Levin is very prepared for this questioning. One of the Apple subsidiaries did not pay corporate income tax for five years despite received $35 billion dollars in the last five years and Levin just got CFO Oppenheimer to agree with that.
Quite frankly Apple CFO Oppenheimer looks like a cow that just got punched, obviously not used to questioning in this detail. Cook is doing his best to not get any more questions.