Tim Cook, Apple’s (News - Alert) chief executive officer, has had a very large pair of shoes to fill with the passing of previous CEO and Apple icon, Steve Jobs. Nonetheless, he’s proven himself the correct choice to take over the vacant position, and now, he has scored to huge brownie points with the American public.
Apple is committing to spend more than one hundred million dollars to start moving some of the manufacturing of its Mac computers from China to the United States.
During the Presidential debates this year, President Barack Obama and Governor Mitt Romney held a heated discussion over the topic of American companies having their products manufactured in China, where the labor costs are significantly lower.
Both agreed American companies should be giving American people the jobs of the manufacturing products that are predominantly sold in the American market.
Tim Cook was obviously listening, and he has taken some of the points made in the debates to heart. He told Bloomberg, “Next year we’re going to bring some production to the U.S. This doesn’t mean that Apple will do it ourselves, but we’ll be working with people and we’ll be investing our money.”
Apple had manufactured its products in the United States until the latter part of the 1990s, when it moved, due to that vast difference in wages found in China versus United States. This move increased their profit margins, but was frowned upon by the American public. Since the unemployment rate has hovered above the 8-percent mark for quite some time, the United States government has begun pressuring American companies to bring their manufacturing stateside to help create jobs for unemployed citizens.
Cook responded to this by saying, “I don’t think we have a responsibility to create a certain kind of job. But I think we do have a responsibility to create jobs.”
This announcement has apparently thrilled some American investors, as Apple stocks have risen 1.2 percent since the announcement.
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