FORTUNE -- In subcommittee hearings Tuesday, Senators Carl Levin and John McCain were careful to balance praise for Apple's (AAPL) achievements with outrage over its "convoluted and pernicious" (McCain's words) tax avoidance strategies.
Sen. Rand Paul showed no such balance. He lit into his own committee's leadership for "dragging" one of America's great success stories into what he called a "show trial."
"I'm offended by the tone of these hearings," he said, with some heat. "Tell me what Apple has done that's illegal. If anyone should be on trial here it's Congress. The Senate should apologize to Apple."
Sen. Levin, with comparable heat, told Sen. Paul he could apologize to Apple if he wanted, but that was not the purpose of the subcommittee hearings.
Paul, not content to let it lie there, began tweeting:
More as they come in.
C-Span.org began coverage at 9:30 a.m. Tim Cook is scheduled to appear in Part 2.
FORTUNE -- If the subcommittee report is any indication, Tim Cook and his colleagues will face tough questions Tuesday from Sens. Carl Levin (Dem.) and John McCain's (Rep.) Permanent Subcommittee on Investigations.
The report charges that Apple (AAPL) avoided paying roughly $10 billion in U.S. taxes a year by funneling foreign income through a series of Irish MOREPhilip Elmer-DeWitt - May 21, 2013 9:30 AM ET
It's a good thing for Apple that most people won't read the Senate subcommittee's report.
FORTUNE -- The 40-page case study on Apple's (AAPL) overseas tax strategies submitted by the Senate's Permanent Subcommittee on Investigations Monday is not an easy read.
The 10-page overview of tax principles and law in the middle -- a history of how a program to block the use of offshore tax havens begun by President Kennedy was MOREPhilip Elmer-DeWitt - May 21, 2013 7:33 AM ET
The results of its probe of Apple's offshore taxes are now available online.
FORTUNE: By Monday afternoon, the day before Tim Cook's scheduled appearance before the Senate Permanent Subcommittee on Investigation, both sides of the story were available online as PDFs: Apple's (AAPL) 17 pages of airbrushed testimony and the subcommitee staff's blistering 40-page retort.
As reader Jim Neal puts it: "Anybody who thinks this is going to be a cordial exchange of ideas MOREPhilip Elmer-DeWitt - May 20, 2013 7:05 PM ET
In a statement to the Senate, Apple explains -- sort of -- what it's doing in Cork.
FORTUNE -- There are three parts to the 17-page testimony Apple (AAPL) submitted Monday afternoon in advance of Tim Cook's appearance before the Senate Permanent Subcommitee on Investigations, scheduled for Tuesday:
The easy part: A recitation of how much Apple pays in Federal taxes ($6 billion in fiscal 2012), the number of jobs it has created MOREPhilip Elmer-DeWitt - May 20, 2013 5:08 PM ET
A suicide story that broke on Saturday had fallen apart by Monday.
FORTUNE -- The Agence France Press headline that moved over the business wires Saturday morning seemed like deja vu all over again:
Three new factory suicides at Apple supplier Foxconn
Citing only a statement issued by China Labor Watch in New York, the news agency reported that the deaths occurred at a Foxconn factory in the central city of Zhengzhou and MOREPhilip Elmer-DeWitt - May 20, 2013 12:37 PM ET
Sees the Inverse Head and Shoulders pattern he's been waiting for.
FORTUNE -- Gotta love these technical analysts.
As William Meade pointed out in Saturday's ETF Daily News post, he never once mentioned Apple's (AAPL) fundamentals during the three months that he was advising his readers -- mostly hedge fund managers -- to sell sell sell.
Now the president of Pure Alpha Research (and former research director at Zacks in Chicago) has changed his MOREPhilip Elmer-DeWitt - May 20, 2013 10:14 AM ET
Eight months of what CNBC calls the Great Rotation has led to some odd imbalances.
FORTUNE -- Tuesday marks the eight month anniversary of Apple's (AAPL) all-time intraday high of $705.07 a share, set on Sept. 21, 2012.
Meanwhile, last Friday, Google (GOOG) hit its own all-time intraday high of $919.98 -- just a dinner for two at McDonalds from $925, Google's mean 12-month price target according to Thomson/First Call.
This coincidence may MOREPhilip Elmer-DeWitt - May 20, 2013 7:54 AM ET
The U.S. is suing Apple. Lee's government pardoned him. Twice.
FORTUNE -- With Tim Cook scheduled to testify Tuesday before a hostile Senate subcommittee and the Department of Justice's antitrust trial against Apple (AAPL) set to begin the following week, this might be a good time to contrast how the U.S. and South Korean governments each treat their country's most valuable company.
Cook is expected to be questioned sharply next week MOREPhilip Elmer-DeWitt - May 19, 2013 7:00 AM ET
Forget those Galaxy S4 ads, says Credit Suisse, wearables are "the next big thing."
FORTUNE -- Computers one wears, rather than carries in a briefcase, backpack or pocket, are at an "inflection point" -- a market poised to explode from $3 billion to $5 billion today to as much as $30 billion to $50 billion in three to five years.
That's according to a Credit Suisse report snagged Friday by Barron's Tiernan Ray.
The theory is that MOREPhilip Elmer-DeWitt - May 18, 2013 9:39 AM ET
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