Company convinced government agency to buy
expensive equipment,
overpay on a
no-bid contract
Government waste, corruption, and, yes, every tech geek's favorite whipping boy, Apple, Inc. (
AAPL) were all complicit in a sad tale of bureaucratic waste, according to the results of a probe by
U.S. Security and Exchange Commission (SEC) Inspector General David Kotz.
I. Apple Sells the Government on an Expensive Proposal
In its effort to grow its business and achieve greater profitability, Apple in recent years has looked to expand outside its mastered realm of consumer electronics and enter
into the world of business solutions.
Under the leadership of Christopher Cox, the SEC chair appointed by former President George W. Bush, the agency looked to aggressively expand its high tech presence, in an effort to avoid the data backup and storage woes that embarrassed it during the financial crisis..............................................
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DailyTech - Apple Sucked SEC Into Wasting $1M USD in U.S. Taxpayer Money
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