GE
Apple, not oil, fuels Alaska's bonanza
August 3, 2011: 6:41 AM ETA $73.5 million investment in shares of Apple Inc. is now worth $207 million
Photo © 2005 Derek Ramsey
Oil revenues from the Trans-Alaska Pipeline provided the capital for the Alaska Permanent Fund, a giant savings account created by the state's voters 1976 to make sure the legislature didn't spend the windfall all at once. But what's fueled the fund's growth in recent years -- and helped it hit a record $40.1 billion this week -- are its investments in the stock market, especially in Apple (AAPL).
Of the fund's top 50 holdings, according to the quarterly report from the corporation that controls its investments, Apple is both its largest single investment and its best performer.
The fund's 617,154 shares of Apple, purchased for $73,516,624, are now worth $207,160,083 -- a 182% increase.
The fund's second- and third-best performers, IBM (IBM) and EMC (EMC) are up 78% and 66%, respectively. The fund's three worst performers over the same period: Cisco (CSCO), GE (GE) and Bank of America (BAC), down 17%, 19% and 37%, respectively.
On Oct. 6, the fund is scheduled to distribute its annual dividend of about $800 million to everybody who lived in Alaska over the past 12 months. The payout last year was $1,281 per person.
Via USA Today.
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Your company's own app store
Private "storefronts" let corporations outfit employees with homegrown business apps.
FORTUNE -- Want to develop a small-molecule-based drug? There's an app for that. But you won't find it in Apple's App Store -- it's available only through a private storefront run by biotech giant Genentech.
The company, based in South San Francisco, Calif., has created some 20 mobile apps for its employees -- and a dozen more are in the works. In MORE
Michal Lev-Ram, writer - Jun 28, 2011 5:00 AM ETPosted in: App Store, Apple, apps, corporate apps, GE, Genentech, IBM, iOS, Medtronic, private apps, Standard Chartered -
Today in Tech: News around the Web
A round-up of the companies, deals, and trends that made headlines.
Every day, the Fortune staff spends hours poring over tech stories, posts, and reviews from all over the Web to keep tabs on the companies that matter. We've assembled the day's most newsworthy bits below.
Facebook CEO Mark Zuckerberg set the record straight about that potential "Facebook phone" during a MORE JP Mangalindan, Writer - Sep 23, 2010 7:30 AM ETPosted in: Adobe, AOL, Better Place, cloud computing, Dell, Facebook, Financial, Flipboard, GE, GigaOm, Halo, Mark Zuckeberg, Michael Dell, Mike Arrington, Mobile, Netflix, Nintendo, Samsung, T-Mobile, Tablets, Tim Armstrong, Twitter -
The light bulb goes digital
Companies for years have toyed with light-emitting diodes, which use the same technology as computer chips. Now LEDs are having their day in the sun.
The $100 billion global lighting industry is undergoing radical change: New office buildings and retail outlets are abandoning fluorescent lighting in favor of LEDs, or light-emitting diodes, those tiny, energy-efficient, long-lasting, and blindingly bright points of light. Giants such as GE (GE) and Philips are shifting MORE
Michael V. Copeland, Senior Writer - Jan 26, 2010 8:30 AM ET -
Seagate's former CEO lights up
Tech veteran Watkins talks about why he took the top job at LED maker Bridgelux.
A year after he was booted from the top spot at hard drive-maker Seagate (STX), Bill Watkins has taken on the CEO job at Sunnyvale, CA-based LED lighting company Bridgelux. Bridgelux makes LED (light emitting diode) chips and arrays for use in general lighting applications for everything from streetlights to warehouses.
"I always knew I would go MORE
Michael V. Copeland, Senior Writer - Jan 13, 2010 5:48 AM ET -
And the walls came tumbling down
Is the NBCU-Comcast deal really about a new business model for cable?
By Tom MacIsaac, CEO, ExtendMedia
That cracking sound you hear is the walls of the clubby world of cable beginning to crumble. Everything in the media world -- especially the world of media distribution --has changed as a result of Comcast (CMCSA) taking control of GE's (GE) NBCUniversal.
Many people think this is a deal to preserve the status quo MORE
Dec 11, 2009 9:00 AM ET -
GE brings good things to startups
Conglomerate invests money - and its considerable resources - in young energy firms.
By Marc Gunther, contributing editor
When A123 Systems (AONE), a startup company that makes advanced lithium-ion batteries, had a successful initial public offering last month, one of the big winners was General Electric (GE).
That's because A123 Systems is by far the biggest holding of a venture capital fund run by GE that invests in energy startups. Over six rounds MORE
Oct 15, 2009 8:00 AM ETPosted in: A123 Systems, China High Speed Transmission Co., GE, green tech, Orion Energy, smart grid, SolarEdge, Tendril, Think -
Quicken for health benefits?
Intuit, maker of finance software, turns its attention to health-care bills.
If you have health coverage, perhaps you've received that ominous-looking piece of mail from the insurance provider that declares: "This is not a bill," but looks a lot like one.
It's called an "explanation of benefits." But the correspondence doesn't seem to offer much of an explanation to anyone who lacks a medical degree or background as a company benefits MORE
Jessica Shambora, Writer-Reporter - Aug 27, 2009 6:00 AM ET -
The Ben and Barry Show 3.0
The departure of outsized NBC chief Ben Silverman is the third time that the producer will team up with IAC's Diller.
By Richard Siklos, Editor at large
Ben Silverman's departure from NBC this morning comes as no huge surprise: he was an out-of-the-box choice to head programming at major broadcast network and his two-year-plus tenure was marked by lots of attention on Silverman's outsized persona but little yet in terms of new MORE
Jul 27, 2009 3:39 PM ET
