Apple shareholders should reject Icahn’s buyback proposal: proxy advisor

Proxy advisory firm Egan-Jones suggested Apple Inc shareholders on Friday to reject activist investor Carl Icahn's demand that the iPhone maker extend its stock buyback software, a idea with a purpose to be put to a vote this month. "The board and administration workforce have verified a strong commitment to returning capital to shareholders during the last two years," the agency, the smallest of the three major proxy advisory outfits, stated in a file bought by Reuters on Friday. Icahn is waging a campaign to get Apple to come back more money to shareholders and has filed a resolution proposing that it provides again $50 billion more thru share buybacks. That thought will likely be put to a vote at Apple's Feb 28 shareholders' meeting.