U.S. Politician Ralph Nader Suggest Ways That Apple Can Use Its $100 Billion Buyback Program For Better Use

In a earnings report released couple weeks ago, Apple announced a new $100 billion share buyback program. although this move was praised by ...

In a earnings report released couple weeks ago, Apple announced a new $100 billion share buyback program. although this move was praised by some investors, others think that Apple should use its profits in another way. Now, U.S. politician Ralph Nader has begun to criticize Apple's buyback program as well.

This week, Nader released an open letter to Apple CEO Tim Cook, suggesting ways that Apple could make better use of the money. Nader also pointed out that the success of share buyback is a mixed bag.

Nader stated that 2% of the program should award to 350,000 Foxconn workers worldwide with a full-year salary bonus of about $2 billion. Such measures will provide "economic relief and happiness" for workers in difficult working environments. After all, these people cannot even afford to buy phone made by themself.

Furthermore, he also suggests Apple use some of the $100 billion on research and development, reduce some youngsters' heavily iPhone usage that comes with a sedentary life of obesity, lower the price of  products, and uses it as a way to increasing salaries and improving hiring.

Image Via CNBC.com