While it’s highly unlikely that President Barack Obama is looking to ask the founder and chief executive of Apple Inc. for a loan, 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.
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.
Of course, the numbers aren’t directly comparable; the government’s number represents how much financial headroom it has before bumping up against an arbitrary debt ceiling, while Apple’s cash reserve represents the pile of money the Cupertino, California-based company has available on its balance sheet.
Still, the numbers show just how powerful Apple has become since the launch of the iPhone in 2007. Earlier this week, shares of Apple began trading North of US$400 on the Nasdaq Stock Market for the first time in the company’s history.
Apple’s market capitalization currently stands at US$363.25-billion, making it the second largest company on the planet, after Exxon Mobil."
Saw this band play last night with Demus and Mallis. They are awesome. Haven't seen a band that I enjoyed that much while sitting down in a while. Also they opened for a screening of Ferris Bueller's Day Off. What a show!
space mountain. im always a sucker for the action shots. right at the most exciting part.
maybe after a couple laps of space mountain. nice hustle out there kid.
amazing! recent shots from his trip to disney land (wtf?). I have to admit, i feel a bit douchey bloggin pics i found on the faceborg. but PI seems to need a quick pick me up after a lil inactivitivity. for the blog. for your health!
the day before I left Santa Cruz last weekend I went hunting with a friend for a pool we had been hearing talk about. After searching the backroads and woods for a while we finally stumbled upon the above pictured pool. We had the place to ourselves for about an hour and got to know the steep ass trannys and got a few lines over the light where it says "live free or die." Then just as we were getting to leave a couple of guys rolled up the hill and one of 'em looked awfully familiar. When he introduced himself as 'Rick', it dawned on me I was shaking hands with skate legend Rick McCrank. About 5 minutes later a whole bunch of dudes emerged from the trail. It was the whole Es Shoes skateboard team including John Rattray, Ben Raemers, Rodrigo TX, Kellen James, and Bobby Worrest. My friend and I took a seat and watched the shredding ensue. Never have I been so bummed I didn't have my camera. The picture above is from the session and is stolen from the Es twitter.
worlds most dedicated fan? or a man who's going to get his knees bashed in due to gambling debts? as always.. YOU MAKE THE CALL!!!
according to the youtube comments section (which rivals wikipedia in its reliablility), this video "is the reaction of a River Plate fan (one of the best soccer teams in south america) to being relegated for the first time in their history to the second division of argentina's soccer."
I think we were all just as animated during each game of the celtics/heat series. I know I was.
had a great 4th of july weekend up in mammoth lakes with some of the PI crew. here's some pics from a roll i had developed. ill upload them to my flickr at some point tomorrow if anyone wants high resolution copies of them.