BusinessWeek reports that Apple has set up Braeburn Capital, a Nevada-based corporation that will manage the company’s US$8.7 billion hoard of cash and short-term investments and take advantage of the state’s loose tax laws. BusinessWeek’s Arik Hesseldahl noted that Apple’s cash position is up 91% from the $4.6 billion it had at the end of 2003; the company is also debt-free. More …
Braeburn — named for a variety of apple that’s uniquely sweet and tart.