- David Faber reports Carl Icahn's Apple (AAPL -0.3%) buyback proposal calls for "at least" $50B in share repurchases in FY14 (ends Sep. '14).
- As a "precatory" proposal, the resolution won't be binding even if a majority of Apple shareholder votes are cast in favor of it.
- Meanwhile, Time has published an Icahn cover story that focuses on his Apple efforts. Icahn tells the magazine he filed his proposal on Nov. 26 (thus making it eligible to be voted on at next year's shareholder meeting), and that he remains a supporter of Tim Cook.
- Icahn: "A lot of people say Steve Jobs probably wouldn’t have talked to me, and maybe that’s true ... But I think [Cook] found our conversation sort of interesting. He said, `Look, you’ve accomplished a lot, and we want to listen to you.’”