Monday Apple Rumors: Tim Cook Talks Fiscal Cliff with Obama

by Christopher Freeburn | November 19, 2012 2:49 pm

Monday Apple Rumors: Tim Cook Talks Fiscal Cliff with Obama

daily apple rumors  300x180 Monday Apple Rumors: Tim Cook Talks Fiscal Cliff with Obama[1]Here are your Apple rumors[2] and AAPL news items for today:

Executive Consultation: With the U.S. approaching a fiscal cliff of mandatory tax hikes and spending cuts, President Obama has sought the advice of a number of leading CEOs[3], including Apple‘s (NASDAQ:AAPL[4]) Tim Cook, CNN notes. The president called the CEOs to discuss their ideas for finding a balanced approach to reducing the deficit. Cook has previously spoken with Republican Speaker of the House, John Boehner, on economic issues. Other executives contacted by President Obama included the heads of American Express (NYSE:AXP[5]), Boeing (NYSE:BA[6]), General Electric (NYSE:GE[7]) and Costco (NASDAQ:COST[8]). The president has also spoken with iconic investor Warren Buffett, who runs Berkshire Hathaway (NYSE:BRK.A[9], BRK.B[10]).

Intention Signaled: AuthenTec, which Apple acquired earlier this year, has sold its embedded security solutions business to Inside Secure[11], NFC World. The sale of that business leaves AuthenTec with its fingerprint and near field communications (NFC) business. Apple purchased the company in August for $356 million, raising speculation that it was interested in adapting AuthenTec’s fingerprint technology for use with its mobile devices, likely as part of a mobile payment system. The sale of the company’s other business suggests that those rumors were correct. Regulatory filings indicated that Apple is interested in AuthenTec’s “smart sensor,” which acts as both a fingerprint sensor and interface navigation device.

Mini Arrest: New York police have made an arrest[12] in last week’s theft of $1.9 million worth of iPad Minis from JFK Airport, the New York Post notes. Thieves managed to get away with 3,600 iPad Minis, recently arrived from China and held in an airport storage facility, before a passing worker noticed them and raised an alarm. Police have arrested Renel Rene Richardson, an airport worker who allegedly asked other workers about the iPad Mini shipment days before the heist. Richardson also allegedly asked other airport employees where he could find a forklift. The thieves used a forklift to load the iPad Minis into a waiting truck. According to the criminal complaint, Richardson acted as a lookout while two other men moved the iPad Minis.

For more about the company, check out our previous Apple Rumors[13] stories.

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/apple-rumors-stock-news/
  2. Apple rumors: http://investorplace.com/search/?q=Apple+Rumors&searchsubmit=Search
  3. has sought the advice of a number of leading CEOs: http://politicalticker.blogs.cnn.com/2012/11/18/obama-speaks-with-business-leaders-in-weekend-follow-up-to-earlier-meeting/
  4. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  5. AXP: http://studio-5.financialcontent.com/investplace/quote?Symbol=AXP
  6. BA: http://studio-5.financialcontent.com/investplace/quote?Symbol=BA
  7. GE: http://studio-5.financialcontent.com/investplace/quote?Symbol=GE
  8. COST: http://studio-5.financialcontent.com/investplace/quote?Symbol=COST
  9. BRK.A: http://studio-5.financialcontent.com/investplace/quote?Symbol=BRK.A
  10. BRK.B: http://studio-5.financialcontent.com/investplace/quote?Symbol=BRK.B
  11. sold its embedded security solutions business to Inside Secure: http://www.nfcworld.com/2012/11/19/321192/authentec-sells-embedded-security-solutions-division-to-inside-secure/
  12. have made an arrest: http://www.nypost.com/p/news/local/queens/jfk_airhead_busted_in_ipad_heist_zCVuIAxuJJkSjovrJ6yXLO
  13. Apple Rumors: http://investorplace.com/2012/04/hot-topics/apple-rumors-stock-news/

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