Happy Tuesday: Hope your Month of Three Milkings, as May was once known, is off to a great start. Welcome new readers Marvin, JP, Nene, Peter and 5639Chrome. Glad to have you aboard.
Birth date is perhaps the only thing The Rock, the Red Baron and Donatella Versace have in common.
And big congrats to Hofstra students Jacob Hochendoner, Louis DeVito and Adam Hussain, whose startup LegalSoft placed third in the statewide collegiate business plan contest.
But first, this: Apple is expected to announce today that it has amassed $250 billion in cash reserves, most of it stockpiled in low-tax havens abroad.
For a little perspective, that’s roughly equal to the entire GDP of Ireland, Europe’s fastest-growing economy.
It’s part of more than $2 trillion cached in foreign lands by U.S. companies, many of which would happily bring those prodigal profits home if only there was a tax rate fairer than America’s stifling 35 percent.
There may be soon. Though still a one-pager, President Trump’s proposed tax overhaul is expected to include a one-time-only break that would allow companies to repatriate all that money with a modest 10 percent levy.
Speculation is rampant over what Apple might do with the net $200+ billion, including acquiring Tesla or Disney. Or every team in all four major league sports. With lots left over. CEO Tim Cook has been customarily mum on the subject, although he did suggest the company might put a “toe in the water” of original content.
Either way, he said, repatriating those billions would be “very good for the country, and good for Apple.”
ON INNOVATE.LI.COM RIGHT NOW
OYOclass.com, a project-based platform that teaches kids as young as 5 to code, is an unfolding hit for Deer Park entrepreneurs Devon and Melora Loffreto.
Former congressman Steve Israel will serve as senior strategy guy at a new government-focused entity launched by Mineola law powerhouse Meltzer Lippe Goldstein & Breitsone. But no lobbying.
The water industry is urgently trying to get women in its ranks. And it’s willing to make a few waves to do it.
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Warming up to new ideas: The EPA’s website is getting a revamp to “reflect the approach of new leadership.” One of the first pages to go was a 20-year-old primer on the fundamentals of climate change and how it affects the United States.
Not directly related: Conservative columnist Bret Stephens used his first NYT effort to discuss climate science. And explode a few heads.
This is getting ho-hum: SpaceX successfully launched a Pentagon spy satellite yesterday and landed the rocket stage on an adjacent pad at Cape Canaveral. The rocket had also been used last year.
There should be jail time: A hacker has carried through on a threat to release purloined episodes of season five of Orange is the New Black after Netflix refused to make ransom payments. The new season was due out June 9, although Netflix may now release it earlier.
On their own: Only 1 in 100 women entrepreneurs resort to venture capital funding for their startups, according to a new study.
Filing papers: NY’s medical marijuana firms are suing the state to stop plans to expand the program, which they say barely supports the existing five.
Sooner is better: Oklahoma City is the best place to launch a startup, according to personal finance site WalletHub, followed by Salt Lake City, Charlotte and Tulsa. Texas, with six, had the most cities in the survey’s top 20, followed by North Carolina with four.
Every day is game day: The NFL is looking for an entry-level social media and PR person. Lots of nights and – natch – Sundays.
STUFF WE’RE THINKING ABOUT GOING TO
Last shot: The Imagine Awards are tonight at Crest Hollow.
A week away: EisnerAmper’s Pivotal conference combines deep thought, tech talk, Grade A networking, performance and apres-beveraging in one giant happening, May 9, 3 to 8 p.m., The Space in Westbury, register here.
Startup show: Stony Brook University is calling in 50 or so companies from its varied incubators for an annual showcase, primarily biotech, energy and infotech, June 8, from 8 a.m. to noon, CEWIT building, free but you have to say something nice about Yacov.
Epic Sciences hauled in $40 million for its “liquid biopsy,” which can detect tiny amounts of cancer among the 30 million or so healthy cells in a normal blood test.
Brooklyn-based platform Propel, which specializes in software for the socially disadvantaged, raised $4 million for an app that helps manage food stamps.
Zeta Global, the data-driven marketing firm launched by former Apple/Pepsi CEO John Sculley and friend David Steinberg, raised $140 million for additional acquisitions.
Big number of the week: Long Island Rail Road track foreman Ralph K. Golden earned $256,155 in OT last year, bringing his total pay for the year to $360,978, or $14,271 more than then-MTA chair Thomas Prendergast.
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Compiled by John Kominicki. Thanks for reading.