David Einhorn on CNBC

David Einhorn was on CNBC this morning to discuss his proposal for Apple (NASDAQ:AAPL). He basically proposed to the company that they issue all common shareholders 4% preferred stock. He thinks that the preferred stock would pay a dividend annually and this is a quick way to create some substantial value for shareholders. Apple has been resitant to this proposal and has included in its annual proxy a proposal to abolish the ability to issue preferred stock. This proposal is straight out of their preferred stock proposal that they discussed about a year ago at Greenlight's annual meeting. David makes the argument that Apple is holding on to too much cash as a result of their depression mentality instilled by Steve Jobs. He also disclosed that he now owns more Apple shares than ever before, signaling that he has been a buyer in Q4 and Q1. He then goes on to discuss his short in Green Mountain (NASDAQ:GMCR)which he says he is still short and accused them of channel stuffing in the quarter. Despite the anchor's probing efforts he made no real comment on Herbalife other than to say he is not involved at this time. Enjoy.