Feeds

Cupertino clears Apple's Fruit Loop HQ - provided it coughs up more taxes

City council eyes fruity firm's billions as it waves construction plans through

Security for virtualized datacentres

Apple has been given the final go-ahead to build its infamous “fruit loop” HQ - as long as it agrees to cough more taxes to the City of Cupertino.

Cupertino City Council voted unanimously to reduce the annual tax break it gives Apple by 15 per cent, before also agreeing to allow the fruity firm to park the spaceship-like Apple Campus II in the centre of town.

In 1997, Cupertino agreed to hand back 50 per cent of the tax raised by Apple's business-to-business sales.

Back then, Apple was struggling and so was Cupertino. But now, the agreement looks ridiculous considering the firm raked in total sales of $156.5bn in 2012 alone and boasts a cash reserve of about $100bn.

"There will be short-term and long-term impacts from this new development," Cupertino's mayor Orrin Mahoney said yesterday. "And as part of our negotiations, this change was just one way that Apple could continue to help us out in the long-term. This will give us some additional revenue, which will be nice to have."

It is estimated that the deal will net the city $1.8m.

There were no public objections at the vote yesterday and politicians were typically fawning. Cupertino has generally bent over backwards to make Apple feel at home, for fear of sending the city's one golden Apple tumbling from the tree.

A video of Steve Jobs telling the council about his plans two years ago looks more like a fanbois' love-in than a planning meeting.

"We're really proud that you decided to stay here in Cupertino," Councilman Gilbert Wong added yesterday. ®

Beginner's guide to SSL certificates

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.