Ownership
In 1985, Apple converted from a mutual savings bank to a stock-issuing public institution, selling 4.6 million shares for a total of $53.5 million. In 1990, a prominent real estate developer and investor Stanley Stahl became the sole stockholder of the bank when he paid about $170 million. In August 1999, Stahl died and the bank is controlled by his estate.
Read more about this topic: Apple Bank For Savings
Famous quotes containing the word ownership:
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)