[youtube=http://www.youtube.com/watch?v=xEm2fO1nz5A&feature=youtu.be&a]
Earlier this week we told you that the Cupertino City Council had voted unanimously to approve Apple’s planning application for its new spaceship campus with a final vote expected next month on November 15th. Today the City of Cupertino posted the video above of a press conference held to announce the Apple Campus 2 approval. The press conference was held yesterday and attended by Cupertino Mayor Orrin Mahoney and Apple’s Senior Vice President and Chief Financial Officer Peter Oppenheimer.
Apple is expected to break ground and begin construction of the new campus later this month and begin moving in employees by 2016.
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Mr. Oppenheimer was asked about what the cost of the building was to be and also about what the “return on investment” would be to Apple shareholders. One somewhat “undiplomatic” answer Mr. Oppenheimer might have given might be that if the project cost say $4-5 bn., that would still equate to only about 2 months worth of Apple’s gross revenues! Few other companies, except big oil, can boast an accomplishment like that!
Actually, $4-5B is roughly equal to two months of net profit, not gross revenue.
Reblogged this on William's iBlog.