See here. Their take is that because Google is doing Android this gives Squirrel Boy such a huge conflict of interest that he will be useless on our board. Money quote: “The potential rivalry between the iPhone and Google-backed companies and applications could put Schmidt in a difficult spot. While on Apple’s board, he already recuses himself from discussions that pertain to the iPhone, according to published reports. But exactly how effective a director of Apple can he be if he’s not allowed to know proprietary information that pertains to the product that brings in as much as one-third of Apple revenue?”

Good question. We’re not going to answer it. Not to reporters, not to investors, not to Wall Street analysts. Why? Because I say so.