Apple CFO Peter Oppenheimer joins Goldman Sachs Board of Directors

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Apple Chief Financial Officer Peter Oppenheimer has joined the Board of Directors of investment banking firm Goldman Sachs. Oppenheimer is an independent director for the company, and this has no effect on his current leadership position at Apple (update he just retired, oh well).

“Peter’s 25 years of broad experience across important industries will add a valuable perspective to our Board of Directors,” said Lloyd C. Blankfein, Chairman and CEO.  “We appreciate his willingness to serve as a director and look forward to benefitting from his judgment and counsel.”

As an experienced CFO, Oppenheimer’s financial aptitude will likely be beneficial for the investment behemoth. “Oppenheimer will be a member of each of the firm’s Audit, Risk, Compensation and Corporate Governance, Nominating and Public Responsibilities committees,” according to Goldman Sachs…

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Verizon CFO says unlimited is ‘going by the wayside’, many customers embrace Share Everything

Verizon Chief Financial Officer Fran Shammo told attendees at a Goldman Sachs investor conference in New York today that unlimited data plans are no longer relevant and the carrier’s Share Everything plan is doing well.

“We are surprised on shared from many different aspects,” said Shammo, as first reported by CNET. “…More people are going to shared than we actually anticipated. And the thing that really surprised us is we have a lot of people coming off unlimited to go to shared.”

Verizon’s Share Everything plan launched in June and allows users to, well, share data with up to 10 devices through a single account. The carrier stopped offering unlimited data to new customers last year, due to growing smartphone usage clogging the carrier’s pipelines; and with the standard now at 4G LTE, Verizon is likely trying to capitalize on every bit of data funneled through its network.

Unlimited data customers are flocking to Share Everything, Shammo suggested, because many of them realize they don’t consume much data. He also noted customers have added more devices than expected.

“Unlimited is just a word, it doesn’t really mean anything,” Shammo contended. “So that whole unlimited thing I think is going by the wayside and they see the benefit of going to the shared. “

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Apple posts audio of Tim Cook presentation from Goldman Sachs Conference

Yesterday we brought you some of the highlights from Apple CEO Tim Cook’s presentation at the Goldman Sachs Technology and Internet Conference, and now Apple made the conference’s audio available on its website. While Apple usually uses the conference to discuss numbers and trends, Cook gave us some hints at what’s next for Apple TV, and he also discussed worker safety following media attention over its supply chain abroad.
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Tim Cook talks worker safety

Apple’s Chief Executive Office Tim Cook is speaking at the Goldman Sachs Technology and Internet Conference where he was just asked about working conditions within the company’s supply chain. While Apple’s presentations at past Goldman Sachs conferences, where Cook was often involved as Chief Operating Officer, were typically limited to numbers and trends, Cook was asked today about supply chain conditions in China:

“The first thing I would want everyone to know… Apple takes working conditions very, very seriously….we care about every worker… i spent a lot of time in factories personally… we are understand working conditions at a very granular level. I realize that… the supply chain is complex… but my commitment is very, very simple. We believe that every worker has the right to a fair and safe work environment, free of discrimination, where they can earn competitive wages, and voice their concerns freely… We believe that education is the great equalizer”

Cook talked about how aggressively Apple has sought to fix the issues. In January, the company polled over half a million employees weekly and reported over 84 percent compliance. Following yesterday’s announcement that the Fair Labor Association has begun audits of the company’s supply chain starting with Foxconn City in Shenzhen, Cook noted Apple will begin an unprecedented move to report its findings monthly. As an example of how detail oriented the company’s review processes are, Cook noted if there were “no fire extinguisher in kitchen,” the supplier would not pass.

Cook also noted that Apple partnered with local schools to provide classes to more than 60,000 employees, many going on to earn associates degrees, with a campus population larger than Arizona State.