Tech Goliath Apple Has David Mindset in DC
Growing from a scrappy underdog to one of the biggest technology companies on the planet with a huge base of loyal fans, Apple Inc. is looking for even more friends — this time in Washington.
The company, with a market value greater than that of Microsoft, Google or Hewlett-Packard, is increasingly evolving from a computer maker into a multi-product international powerhouse and a major force in the entertainment and publishing industries. But Apple's aggressive exploitation of its immensely popular iPhone, iPad and sprawling online marketplace for music and digital applications has raised the eyebrows of regulators and lawmakers, who worry the company's dominance might stifle competition. Since its dramatic growth began in 2003 — the value of its shares has skyrocketed to more than $300 billion from $2.5 billion — the company has more than tripled its federal lobbying expenses to $1.6 million last year. In February, the company boosted its forces by hiring the high-powered Washington lobbying firm of Fierce, Isakowitz & Blalock. And Apple Chief Executive Steve Jobs has met with President Obama twice in the last five months, unusual forays into the political arena for the company's co-founder. Those moves help Apple make its case to policymakers and regulators on issues that affect it, as well as help the company learn about potential problems and pending legislation before they become public.
Tech Goliath Apple Has David Mindset in DC