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

Beginner's guide to SSL certificates

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. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
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.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.