This excerpt taken from the AAPL DEF 14A filed Jan 7, 2009.
Shareholder Proposal Regarding Political Contributions and Expenditures Report
The Company has been advised that the International Brotherhood of Teamsters General Fund, 25 Louisiana Avenue, NW, Washington, DC 20001, a beneficial owner of 2,659 shares of the Companys common stock, intends to submit the proposal set forth below at the Annual Meeting.
RESOLVED: That the shareholders of Apple Inc., (Company) hereby request that the Company provide a report, updated semi-annually, disclosing the Companys:
The report shall be presented to the Board of Directors audit committee or other relevant oversight committee and posted on the Companys website to reduce costs to shareholders.
SUPPORTING STATEMENT: As long-term shareholders of Apple, we support policies that apply transparency and accountability to corporate political spending.
Absent a system of accountability, Company assets can be used for policy objectives that may be inimical to the long-term interests of Apple and its shareholders.
Based on available public records, the Center for Political Accountability estimates that Apple has contributed at least $460,000 in corporate funds since the 2002 election cycle.
However, relying on publicly available data does not provide a complete picture of the Companys political expenditures. For example, the Companys payments to trade associations used for political activities are undisclosed and unknown.
Adoption of this proposal would bring our Company in line with a growing number of leading companies, including Hewlett-Packard, Aetna and American Electric Power that support political disclosure and accountability and present this information on their websites.
The Companys Board and its shareholders need complete disclosure to be able to fully evaluate the political use of corporate assets.
We urge your support FOR this critical governance reform.