tim cook at the meeting held at the company's headquarters in cupertino, california. cook responded, "we're thinking very deeply about the question. the board wants to do what's best for shareholders. please have patience." looks like investors are holding out-- apple shares surged almost $4, closing at $516.39. >> susie: our guest tonight thinks apple stock could hit $585 this year. he's scott sutherland, research analyst covering wireless for wedbush securities. scott, nice to you have with us. >> great, thanks for having me, susie. >> susie: so what is holding apple back from paying a dividend? item reluctance? >> i think maybe two things. one, there is a process they have to go through. and i think they're being very methodical about it. and second i think historically steve jobs had been resistance to a dividend. high profile, he would rather have cash on the balance sheet and possibly those two reasons are making them very meticulous about this. >> susie: but even if apple paid a dividend there within plenty of money left over. what are they going do with a hundr

big question for investors will ceo tim cook announce any move toward a dividend. what happens to the stock if he does? and what happens if he does not? also in focus, apple's response to the labor controversy at the factory in china. and any news about the ipad 3, we are tracking it all in realtime. we'll bring you any news that comes out of it. tyler, back to you. >> thank you very much. on the "power lunch" menu this hour, the soaring price of gasoline. doesn't go down too easy. being driven bip fundamentals or speculation? >> health solutions moving higher. the pharmacy benefits manager reporting earnings today. and investors are really liking what they see. we're going to talk exclusively to the ceo,ty. >> and along with mandy drury and brian shactman, i'm tyler mathisen. we're on apple patrol this hour. "power lunch" begins right now. >>> okay. stocks are turning higher after a fairly weaker open. another drop in jobless claims outweighing some disappointing earnings. this is where we're standing right now. you have the dow once again talking about 13,000. re

and tim cook didn't volunteer any comments about that.estingly enough, new products were an item of discussion. one of the things that i thought was interesting is cook talked a bit about how apple thinks about media. continues to say apple is looking to make money off of media sales. doesn't see an ala carte type of system that they're trying to push. they're not trying to be netflix. also, that they're not going to do anything drastically different than they have, to take on the cable companies. it looks like they're setting up for potentially an apple tv that has perhaps more dvr functionality. they didn't say anything specific about that, though. >> all right. so nothing on the dividend, and we tease it as sort of an inspiring message, right? i think tomorrow is actually steve jobs' birthday. what did tim cook say that was so inspiring? how was he received? what was the feeling there? >> well, i'll tell you, the most inspirational thing that tim cook could do is just read off the numbers they've done in the most recent quarters. and t

. >> reporter: he says apple's number two man at the top, tim cook, flew to shenzhen, and helped buildxperts, to make nets, to make impulsive souls think twice before jumping. foxconn raised wages and they opened up this counseling center. why do you think they happened at the same time? there are many reasons, she tells me. but they had mostly to do with the migrant workers, their state of mind, how they cope with society. also, it's hard to make friends here, she says. but it wasn't just the suicides that caught the world's attention. >> explosion hit a foxconn plant. >> reporter: last year, poorly-ventilated aluminum dust led to two separate explosions, killing 4, injuring 77. there is one labor rights group in the country who claims they tried to warn you about combustible dust before the explosions. is that true? do you have regrets about not doing more sooner? >> when you asked me whether we feel we could have done a lot more or better to our work -- that explosion, absolutely. we were devastated. >> apple takes working conditions very, very seriously. and we have for a very long

it is their money that tim cook is getting.perhaps we said, only an executive getting $5 million or more, that has to pass a shareholder vote. if the shareholders want to say yes, that is fine. it is their store. we see an awful lot of companies saying, if we give them $5 million, we have to go to a vote. something tells me he is worth 4.9. it is not the government setting the limit. it is just if you go above a reasonable -- still very rich -- then you need some kind of approval. some system where the shareholders have some say. host: john is an independent from massachusetts. caller: why don't we just nationalize everybody and make sure when these companies, foreign and domestic, come into the country, they pay the taxpayer? or put a tax on international goods. we have to live on this planet. if we are going to keep giving money to the oligarchies, we are basically going to be cattle. i heard the vice president say the supreme court will have to make a decision on those chips that they will implant people with, and that is ho

what will tim cook do with all that apple cash? the apple shareholders meeting starts at the top of the hour and we will have it all covered for you. and gas prices surging so what is fueling the spike? and how can you blunt it? how can you play it? plus, what will it take to keep the dow above 13,000? it will take you watching power lunch top of the hour. now back to scott and mr. sunshine himself. >> all right. thanks so much. see you in a bit. less than four hours to go until sales force.com reports earnings. most analysts anticipate the company will do well this year. ed mcguire raised his price target to 145 from 125 reiterated out perform on the stock and joins us with what to expect. good to have you on the show. welcome back. >> good afternoon. >> so the stocks had a good run obviously thus far this year. are the good results baked in at this point? >> well certainly i think the street is anticipating a good result but we do think that there's room for it to go higher. >> based on what? >> well, the key metrics we'll be loo

you're watching "world business today" live on cnn. >>> apple's ceo, tim cook, has spoken out about concernsr labor conditions in the company's supply chain. his remarks come one day after the announcement that came saying that the labor rights watchdog had now begun inspecting a factory in china where workers complained of inhumane working conditions. foxcon is one of apple's biggest suppliers, assembling iphones and ipads in its chinese plants. the audit team plans to interview thousands of employees in schengen as well as other factories. >> the audit is probably the biggest audit in the history of mass manufacturer, in scale, in scope and in transparency, and i am looking forward to seeing it resolved. we know that people have a very high expectation of apple. we have an even higher expectation of ourselves. >> well, the findings of the fair labor organization's audit will be published starting in march. >>> staying with technology now, if going public appears to be all the rage in silicon valley these days, well, a little bird has been telling us that that's not the whole story. cnn mon

apple c-e-o tim cook is vowg to improve working conditio, at overseas factories that e its products. the cupertino- based computr giant has been criticized... since poor working and livig conditions were revealed ata facility in china. an independent watchdog group.. called "the fair labor association"... recently ben auditing conditions at plann china, where iphones and ips are made. "we are constantly auditing...looking for prob, finding problems and fixing problems." apple is one of many u-s companies that outsource manufacturing, to reduce labor costs. checking bay area headlines. all the bathrooms are open n at mount diablo high schooln concord. the contra costa ts reports the superintendent ordered the principal to unk them. the principal had closed most of the school's bathrooms last year becausef graffiti problems. the san jose city council hs eased restrictions on local medical marijuana dispensar. last night, council members followed mayor chuck reed's recommendation that ordinans passed in 2011 should be repealed. those laws had tried to limit the number ad location of col

but some people wondering, will tim cook make his mark on this company as ceo?now is he already has in just about four months. let's count the ways. social responsibility. apple is already matching employee donations to 501 c 3s up to $10,000. they weren't doing that before cook took over. the employee discount has gotten a little sweeter. $250 off ipads. 500 more off macs when employees buy them. the dividend looks more likely than ever by my calculations, apple probably already has $100 billion in cash and long-term marketable securities labor. there's been a swift response to the flap over what's happening in fox conallowing tv cruise in there and also if they're going to release more information about labor conditions more often and of course we had the holiday quarter earnings, which just blew out. that was a logistical triumph. and tim cook's main thing is logistics. now back to that labor issue expect that to come up. there's nothing specific on the agenda about that. shareholders will probably bring some questions about what apple plans to do about that

tim cook made statements talking about the cash pile. jon fortt has been listening in and is here with more. what'd he say? >> several interesting things. let's start with what he said about that cash pile. he said we have more cash than we need to run the business on a daily basis. everybody knows that. when he says it, he then said investors need to have a little patience so that apple can act prudently and figure what to do with that cash. suggesting something sooner rather than later can happen. he talked about apple tv saying apple doesn't do hobbies. we always thought there was something there. perhaps hinting towards a bigger mass market product than the current apple tv product. something we've been looking for perhaps coming this year. on the ipad he said price is is the most important thing. says that he still expects that tablets will be bigger than the pc market. that ipad has grown so quickly because it stood on the shoulder like things like itunes and the app store that came before it. also the emergence of the markets. mar

tim cook said he's thinking about it.il prices are creeping up to $108 a barrel, hitting a nine- month high. we look at what's behind the surge.

apple ceo tim cook said they have more cash than it needs and doesn't know how to spend it.e idea is to pay share hold ears dividend. >> facebook is short on revenue and scrambling to catch up. they will launch a premium advertising service next week. >> santana row developer is designing a new building with tech company in mind. they say santana row up scale living offer the perfect amenity for any potential tech tenant. more in tomorrow print edition of silicon valley business journal. >> since it's oscar time and into the movies. we give away movie tickets for a year to receive lucky fans. go to receive news for your chance to wichbility check i like larry own there. >> who doesn't. larry. >> not a dislike button. i might lead the league in that. first full squad work out for the spring and we are there. what's up with timy's back. hear from the giantsce next what's up with timy's back. hear from the giantsce next in sports. like me. of. >> good evening everybody. players reported today in arizona. first full squad work out is scheduled for tomorrow. tim says doesn't be c

. >>> tim cook, ael a ceo says the company takes work conditions seriously and feels every worker should have competitive wages and a secure environment. they must do this when -- suppliers much do this when associating with the company. factories of the largest electronics contractor as well as x box and dell and hewlett packard computers. >>> cat lovers there's more for the litter box than meets the eye. millions of parasites have been crawling through the cat's waste. researchers believe the pests can cause disease in marine life and humans a cat can shed up to a million egg like structures in the fees sis. it gives the oh -- fees sis. feces. it gets in the ocean. >>> gooseel has been passing along information to advertisers that -- google has been passing along information to tieders that ipad and iphone users thought was private. google could track the activity of millions of users without the users knowing it. so if you want to protect your privacy, go on your browser and click on the disable cookies and then delete any cookies exist and under location setting disable gps tracking

cameras weren't permitted but the ceo tim cook, seen here in an earlier video, hinted apple may pay aend once again. apple sitting on an enormous amount of money and che sharehos would like cut, better than later in the case of tax laws. in case tax laws change, people would like their money now. >>> it's painfully obvious president obama's apology to afghanistan is not making a difference. seven more people killed today in anti-american protests following the accidental burning of the koran by u.s. troops near kabul. protesters set a truck on fire, killing three people. this marks day four of demonstrations, just yesterday president obama formally apologized to the president of afghanistan. now this morning secretary of state hillary clinton and other world leaders calling for a cease-fire in syria as the death toll continues to climb. right now, eight more people are dead, as the government clashes with protesters out on city streets. here's nbc's richard engel with an update from the turkish/syrian boarder. >> representatives for more than 70 countries meeting node tunisia to call

>> jim snyder, fellow in communications policy and also one of the former colleagues, maybe also tim cook was one of my dissertation advisors in political communications. he was also a communications fellow in congress. one comment, just a caveat, there's about 500,000 elected positions in the united states. the presidential election is clearly the most important, but it's still only one. and it often happens that local and state politics are qualitatively different than federal elections, it's not just a matter of trickle down, what works in terms of analysis, it's often very different and unfortunately, as an academic who wants to go work at a major university or speak at a major think tank like this, you've got to focus on president elections and that's what you study and it's unfortunate because we have to be very cautious about the comments we make. but my question relates to something different and that is in order to get these ads on the airways, if has to go through a gateway, which is your local tv broadcaster. i have never seen a study about how broadcasters exercise their discr

apple ceo tim cook said they have more cash than it needs and doesn't know how to spend it.e idea is to pay share hold ears dividend. >> facebook is short on revenue and scrambling to catch up. they will launch a premium advertising service next week. >> santana row developer is designing a new building with tech company in mind. they say santana row up scale living offer the perfect amenity for any potential tech tenant. more in tomorrow print edition of silicon valley business journal. >> since it's oscar time and into the movies. we give away movie tickets for a year to receive lucky fans. go to receive news for your chance to wichbility check i like larry own there. >> who doesn't. larry. >> not a dislike button. i might lead the league in that. first full squad work out for the spring and we are there. what's up with timy's back. hear from the giants ace next what's up with timy's back. hear from the giants ace next in sports. like me. -dad, why e you getting that? -that's my cereal. is there a prize in there? oh, there's prize, all right. is it a robot? no. is it a jet

after the article came out, apple ceo tim cook told employees in an e-mail the claims are patently false. >>> the second marine to face trial in the hazing of a bay area native has been found not guilty. today, a court martial panel found sergeant benjamin johns not guilty of wrongfully humiliating and demeaning lance corporal harry lieu. the 21-year-old marine committed suicide last april after repeated hagds in afghanistan. lue is the nephew of california congresswoman judy chew. the first marine to stand trial in the lue case was sentenced to 30 days in jail and was demoted after pleading guilty. the third marine charged in the case must still face court martial. >>> the role of women in the military may soon be changing. the pentagon is recommending that women should be allowed to serve closer to combat zones. the changes will open doors for serving in battalions which previously had been considered too close to the front lines. women will still be barred from serving in infan trictrinfantry special operations forces. some say they don't recognize their contributions to the military.

. >>> tim cook will deliver the keynote address at a san francisco party as part of a conference forence. the speech marks the first public appearance since steven job's death on october 5th. >>> mayor stephanie rawlings- blake will promote the clean community competition. the contft promotes environmentally -- contest promotes environmentally friendly cities. >>> maryland lieutenant governor will testify today before a senate committee supporting legislation it be legislation to allow -- legislation to allow veterans to be recognized. it will reportedly help get vets gain easier access to available service and resources. >>> news time 5:57. counting civil -- county civil leaders see jury duty as a sick duty. >> what maryland law makers are trying to pass to make it easier and you might be heavier the next time you are called to serve. >>> a big day for testifying for governor o'malley. the issue he is pushing and says is tops on the agenda. >>> also the parent who loves talking but -- parrot who loves talking but has only one topic to talk about. we will tell you all about it ahead.

. >>> ceo tim cook will deliver the keynote address at goldman sachs as part of a tech conference. it marks the first public appearance since steve jobs death of pancreatic cancer. >>> a judge is expected to rule on a motion to throw out the arrest of jennifer hudson'sexbrother-in-law charged with first degree murderer in the deaths of hudson's mother, and her brother and hudson's 7-year-old julian king, her nephew. >>> today at the white house at the-have i station of vice president joe biden china's vice president is expected to visit today. this comes after biden visited with china during the international trip to central asia which happened last august. >>> and time now is 6:52 for a look back at this day in history in 2000. three tornadoes tore across rural southwest georgia and they practically bulldozed dozens of homes leaving behind scattered debris. 20 people killed and more than 100 injured. >>> all right. let's talk about the temperatures this morning. definitely playing a big factor on whether we are seeing the rain or snow out there. right now, into baltimore right aro

tim cook said tuesday that management is actively discussing what to do with its huge stash of cash. and, as suzanne pratt reports, apple is not alone. >> reporter: $100 billion dollars. that's what apple currently has in its piggy bank. that's a lot of moolah. so much that the company could buy ipads for a 100 million people and still have plenty left over. apple could also give back to its shareholders in the form of a dividend-- something wall street is clamoring for. but, apple isn't doing anything, at least not yet. analyst abahey lamba predicts that will change sometime this year. >> we think it's more likely that they do a sustainable dividend, starting at about $5 to $10 per share, and they also use some cash to buy back shares. keep in mind they still generate a lot of free cash flow, so its not only what's sitting on the balance sheet, it's an ongoing thing. >> reporter: internet search giant google and software king microsoft also have oodles of cash in the bank. so do lots of other large public companies, particularly technology names. quickly accumulating money on a bala

tim cook has tapped john browett for the job. browett ran britain's second largest electronics retailer. now, he'll be in charge of developing apple's retail strategy as the maker of iphones and ipads expands its stores around the globe. browett will be on the job come april, reporting directly to the apple c.e.o. >> susie: tonight's commentator is just back from davos, switzerland, where c.e.o.s, heads of states, and billionaires met for the annual world economic forum. and he's feeling a bit of deja vu. here's dan gross, columnist and economics editor at yahoo finance. >> at the world economic forum in davos last week, the big buzz surrounded sightings of mick jagger of the rolling stones. but as i walked around the snowy streets, another '60s era icon kept coming to mind-- bob dylan. for the times, they are a changing. davos was created as a joint european-american project to help the poor developing world escape its political, economic, and social woes. but as dylan sang, the first now shall later be last. this year, there wa

now, as you know, new apple ceo tim cook taking the working conditions of contract apple factory employeesery seriously. far more seriously than the previous ceo steve jobs did, including expanded safety inspections, independent human rights checks and now more money. netflix bringing back the dvd only plan, the company had discontinued it as a way of motivating customers to move over to streaming which netflix thinks is the future. as the ceo once told me, we didn't call it dvd flinch, we called it netflix for a reason. it turns out enough people want dvds only. the company is making an aboutface. >>> the powerful house energy and commerce committee have scheduled a meeting today to discuss subpoenaing officials from the office of management and budget over the solyndra scandal. the subpoenas if they came would have marked the first time congress had subpoenaed people in the controversy. it had subpoenaed documents in the past. the whole threat turned out to be nothing after the obama administration said you don't have to subpoena anyone, the omb is free to come testify anytime you wish.

in fact, tim cook addressed that.ere's what he had to say. >> we think the use of underage labor is abhorrent. it's extremely rare in our summer chain, but our top priority is to eliminate it totally. we've done that with our final assembly vendors that are now working down into the supply chain. if we find a supplier that intentional hires underage labor, it's a firing offense. >> a very deliberate in his choice of words there. >> obviously, you know, this is something that we outlawed in this country years and years ago. china is much more lax in these things. andrew sorkin singing the praises of china and free trade. free trade to me means exporting jobs to china where they pay them less and pollute more. i don't understand what -- >> it's not a zero-sum game. many people think of it that way. it. >> peaceful coexistence? >> but it's not that there won't be significant tension. what is he -- >> he's the audubon society. you would think he would care more about clean air. >> if they have to raise prices in part to s

we are taking the example of tim cook, but that is not all the cash. is it? >> no. it is not all in cash. that is the present value. in other words, he got various awards in incentives, but if he would to some baker and said this is what of offer this year, the cash value of about, the answer will be 370 million. the fact that it is not, you know, f. even new card that is a mercedes is something, the fact that it is having cast as a mean it will get to where you want to go, let's get back to your basic question. as i added your numbers to which it sells like we get to button are 11 million. the number i have for this under the ceo and s&p 500 is is median pay, the averages a little higher. the ten cuts of the world's cute, but the median pay is a lover 8 million, and that number to and years ago was about 5 million. most of that number, as in the figures you gave our in options or stock incentives. by the way, in that decade from 2000-2010, the average investor losses in his s&p, the investor who brought the s&p 500 lost 40 percent. so the median ceo who lost about

organizers say they've completed 250,000 petition signatures and hope they will be forwarded to the ceo, tim cook. >> i love my products so much more if i knew they weren't being made by workers suffering from abuse autos critics believe employees in china stand long hours and suffer from prepet tiff motion injuries. apple's web site features a section on a supplier code of conduct and posting an annual audit. apple issued this statement, quote, we insist that our suppliers provide save wrking conditions, treat worker was dignity and use environmentally responsible manufacturing processes where ever apple products are made. one management expert at santa chaira university has visited many facilities in kina. he thinks change will come though there are obstacles. >> there is more people applying than there are openings. >> so... in that case, you know to play devil's advocate the company doesn't have a strong incentive to want to do much better. >> apple is working with a nonprofit fair labor association auditing apple practices and make findings public. apple is the first electronics company to d

the ceo tim cook said we believe workers have the right to a safe and fair working environment and inspections are now underway are unprecedented in the electronics incuss dus story. not even a dent in the stock price. google has been given a green light, now with antitrust arufal from u.s. and europe for $12.5 billion purchase of motorola mobility. and the purchase expands the phone patents better equipping it. market numbers, stocks kicked off higher. the rise after greece approved austerity plans. apple is a major index mover. >> and last night's grammys paid tribute to steve jobs. the apple co-founder received a grammy trustee award recognizing contributions to the industry in a nonperforming role. the. eddie q accepted the award. >> when introducing the ipod in twun, people asked... why is apple making music player? his wansz simple. we love music. and it's always good to do something you love. >> past recipients include walt disney and thomas edison. in san francisco, i'm emily chang with bloomberg west. >> we can see skies starting to clear up out there. >> there are still scattered sho

tim cook says the world's most valuable company has more cash than it needs.annual shareholders meeting said the company may be willing to part with it. it may be consideration a stock dividend. it also says apple is beginning to unveil mind blowing new product this is year. >>> it is only the second video of its kind to go public. a look at one of the darkest days in nasa history. >>> back here in 10 minutes, your bay area weekend is basically here. i'm going wow, look at this bed! this nightstand! this wardrobe! what are you doing here? you're in ikea. my dream bedroom is in ikea? yes. what's that bedroom over there? that's your husband's dream bedroom. whatever your style, take home your dream bedroom together. ikea. the life improvement store. for cleaner air and your right to breathe it. for those who want to quit smoking and for those who need them to. we're fighting for clear skies over every city and healthy lungs throughout the country. the american lung association isn't just fighting for air. we're fighting for all the things that make it worth brea

tim cook says the world's most valuable company has more cash than it needs.annual shareholders meeting said the company may be willing to part with it. it may be consideration a stock dividend. it also says apple is beginning to unveil mind blowing new product this is year. >>> it is only the second video of its kind to go public. a look at one of the darkest days in nasa history. >>> back here in 10 minutes, your bay area weekend is basically here. i'm going to have your weekend forecast. we'll talk about the cool down that's coming to your neighborhood. >>> and new rules on dna testing, who can be tested and when. ' how did we do it last time? i don't know... i forget. hello, neighbors. hey, scott... perfect timing. feeding your lawn need not be so difficult. get a load of this bad boy. sweet! this snap spreader system from scotts makes caring for your lawn snap-crackin' simple, guaranteed. just take the handy, no-mess bag, then snap, lock, and go. it's a new day for lawn care, feedings never been so easy. to see a demo of the snap spreader, go to scotts.co

250,000 signatures turning them over to the store general manager hoping they'll be forwarded to tim cook. >> i love the apple products more if i knew they weren't being made by workers suffering from abuse autos critics believe workers stand long hours and suffer from repetitive motion injuries. apple's web site features a detail web site on supplier responsibility, listing contractors and posting an annual audit. a quarterly signatures are difficult to ignore. >> 250,000 petitions that are suddenly revealed to the public is a dramatic -- more dramatic than to take information you could amass in po years ago. >> apple declined an interview, issuing this statement, quote, we insist our suppliers provide safe working conditions, treat worker was dignity and use environmentally responsible manufacturing processes whenever products are made. and our suppliers must live up to requirements if they want to keep doing business with apple. and one management expert at santa cleara university visited many contractor facilities. he thinks change will come though there are obstacles. >> every time t

. >>> apple ceo tim cook is reacting to concerns about working conditions at one of the tech giant'sgest manufacturing partners a human rights group complained about a company called fox con, a chinese company that makes the iphone and ipad. fox is conaccused of abuses including very long hours and employing underaged workers. tim cook talked about it at a tech conference in san francisco. >> no one in our industry is doing more to improve working conditions than apple. we are constantly auditing facilities going deep into the supply chain, looking for problems, finding problems and fixing problem. and we report everything because we believe transparency so very important in this area. >> an independent group is now auditing conditions at several apple suppliers in china, including fox con. cook says those rules will be published monthly on apple's website. >>> mitt romney is struggling to get the republican nomination all tied up with a bow. instead it is all tied up in a knot between him and rick santorum. we will talk with the gop inside ber the state of the republican race. back

. >> aren't you related to tim cook? >> i wish i was. >> we'll smile and say good morning, to you. for joining us. yes, it is friday, february 24th i'm dave clark. >> and i'm pam cook. thank you for joining us. overnight news one woman is in police custody. that is after a boat crash on the alameda shoreline. it happened just before 2:00 a.m.. that is where we find ktvu channel 2 claudine wong with bad news. >> reporter: it is a problem out here. they have alerted all the proper authorities within the last half hour the oakland fire department was able to put a boom around this boat. it goes all the way around. trying to contain fuel that is leaking from this boat. that boat crashed into the shoreline here at the marina. there are several different operations ongoing right now. this one obviously is supposed to contain the fuel. later they will focus on salvaging that boat. then there is this investigation into how the boat got here. police are trying to figure out the identity of the woman they rescued. take a look at this woman. when rescue crews got to the scene she was still on

. >>> after the close apple's ceo tim cook had a lot of good things to say about the momentum of thee been saying about apple. typically a stock would have gapped much higher. it took out my $500 price target. i think it's moseying its way on to $550.