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

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.