Boston, MA 02/20/2013 (wallstreetpr) – The presidential race is over and the winner is back in the seat and lobbying by corporates may or may not make a difference to the results but big bucks go into it and no one wants to be left behind. Silicon Valley has always been a heavy-duty contributor but something changed with Apple.
Google Inc (NASDAQ:GOOG) outdid Apple Inc (NASDAQ:AAPL) in its lobbying efforts. Over the last nine months the former ended up increasing its political spending by close to 90% while the latter reduced it by 13%. Where Google spends $1, apple will end up spending only a minuscule 10c. Networking giant Facebook Inc (NASDAQ:FB) had the biggest percentage rise as it upped its political spending from $1.35 million to a little under $4 million.
The $2 million that Apple spent was spaced thinly across issues such as:
- Telecommunications which included child protection issues and the open internet.
- Taxation which included the recovery of profits that had been earned overseas
- Education with the inclusion of e textbooks in schools
- Trade that included border issue and free trade
- Investments as well as SEC, which included the Dodd-Frank Act implementation
- Consumer Issues which included the latest Do Not Track Me Online Act as well as privacy protection
- Environment issues that covered EPEAT standards, Energy Star and electronic waste
- Transportation that included the use of technology in airplanes and cars
- Appropriations which covered government procurement rules
- The computer industry and cyber crime
- Medical issues that included mobile medical device regulation
- Media like electronic publishing
Shares of Apple Inc (NASDAQ:AAPL) were down by 0.04% to close at $459.99
Shares of Google Inc (NASDAQ:GOOG) were up by 1.76% to close at $806.85
Shares of Facebook Inc (NASDAQ:FB) were up by 2.15% to close at $28.93.
Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. While reading this article one must assume that we may be compensated for posting this content on our website.