Apple has given $100,000 to defeat the marriage amendment -- Proposition 8 -- and endorsed efforts to defeat the ban. It might seem like this is sound politics for the Left, but it will certainly hurt shareholders of Apple, says Peter Sealey in The Los Angeles Times.
At a time when the stock market is particularly rough,
...Apple’s decision could drive away customers who disapprove of same-sex marriage, said Peter Sealey, adjunct professor of marketing at the Peter Drucker Graduate School of Management at the Claremont Graduate University in Claremont, Calif. Sealey said he personally opposes Proposition 8 but thinks Apple’s decision was “wrong-headed.”The business of business is business, after all -- not social engineering. Businesses have only one responsibility -- to return money to their shareholders.
“It will hurt shareholders of Apple,” he said. “People will not buy a Mac because of this decision.”