Apple executives get millions in bonuses as stock tumbles

Discussion in 'MacBytes.com News Discussion' started by MacBytes, Oct 1, 2008.

  1. macrumors bot

    Joined:
    Jul 5, 2003
    #1

    [​IMG]

    Category: News and Press Releases
    Link: Apple executives get millions in bonuses as stock tumbles
    Description:: Not even Apple can escape the fallout from the global economic crisis, with it's shares tumbling this week. That hasn't stopped Apple's executive team reaping in more than 120 million dollars in bonuses though...

    Posted on MacBytes.com
    Approved by Mudbug
     
  2. Moderator emeritus

    edesignuk

    Joined:
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    Location:
    London, England
    #2
    Still, they've had a killer year (until now with the stock tumble, which even then isn't their "fault"), and they have billions in the bank. Not surprising that execs will still be seeing nice fat bonuses.
     
  3. macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #3
    Tying these options (which have probably been on the planning stages for weeks) to the recent market fall is irresponsible journalism at best. Apple has been firing on all cylinders and breaking all kinds of sales records the past few quarters. Nothing wrong with the board trying to keep their talent at Apple.
     
  4. macrumors regular

    Joined:
    Aug 7, 2008
    #4
    The implications of this article is moronic. Moronic.

    Apple executives did their job. They performed well. Despite the harsh brutal economy, Apple executives made sure that Apple had a very profitable year. They made sure that Apple Inc. delivered good products, and made good revenue and was profitable. They made sure that Apple Inc was a successful company this year, rather than a BANKRUPT CRAPTASTIC company like Washington Mutual or Wachovia.

    The fact that Apple's stocks tumbled.... HAS FRIKKIN' NOTHING TO DO with the competence or performance of Apple executives or the products. AAPL stocks often tumble due to sheer market speculation, or due to short-selling manipulation. Period. It has little to do with the company's performance, and thus little correlation with the performance of the company's managers and execs.
     
  5. macrumors member

    Joined:
    Jun 13, 2007
    #5
    Apple actually shows a brand power and success which is obvious in that MOST students purchase Macs, MOST people buy IPods for their music players, and MOST people who used smartphones have Iphones now. It is hard to deny they deserve it when so many people use their products.
     
  6. macrumors 603

    wordmunger

    Joined:
    Sep 3, 2003
    Location:
    North Carolina
    #6
    The stock went down ten percent. Wachovia went from $57 to less than $1. That's the difference between a strong company in a bad economy and a bankrupt company. The sad news is that many Wachovia execs are probably still going to come out of this quite well.
     
  7. macrumors 65816

    zombitronic

    Joined:
    Feb 9, 2007
    #7
    I know Mac Rumors tries to be unbiased in the news articles they post, but honestly, I wish they were a bit more biased. There have been so many illegitimate anti-Apple articles lately and re-posting them here only fuels that evil fire. At least we have smart members to see through the smoke.
     
  8. macrumors 68020

    mainstreetmark

    Joined:
    May 7, 2003
    Location:
    Saint Augustine, FL
    #8
    I fully expected a bunch of complainers in this thread, but I think you guys got it spot on.

    The media is actively fear-mongering this whole thing, significantly contributing to it's continuation. The average joe would have a hard time even noticing "severe economic conditions", beyond fluctuation in retirement money. It's appalling that the media is whipping everyone into thinking we're about to enter a depression, when in fact, the signs of entering a recession haven't even happened. We still have economic growth every quarter (this current one isn't over, so i'm not counting it). The media, as a whole, is terrible. Aren't we still at War? Where's your daily US death toll now? This is all such big news, that even Bush's exaggerated terribleness isn't newsworthy. MSNBC's headline says "Economy in Turmoil". (http://www.msnbc.msn.com/id/26884523/?ack)

    Turmoil? People can still shop at wal-mart. All the ATM's have cash in them. Big Macs are freely available (not for free). There are no bread lines. Unemployment is a fifth of what it was in the depression, and shows few signs of significant change.

    The banks that went under did so because they made huge misjudgments, and in the end were bought by other private banks who did not.

    Wallstreet took a crap because all the investors (including those who manage your 401k) were waiting to see if $700B got interjected into the system, and when it didn't they pulled out, and when everyone noticed that a crash wasn't happening, they put 75% back in causing one of the larger one-day wall street gains we've had in a long time. The "wait" for $700B is what's freezing the credit market, since no one wants to lend their own money, when all this free govt money could be coming next week. It sucks balls.

    Apple? They lost stock, just like *every* company, but this moron and his journalistic integrity was targeting Apple for some bad press, and researching the relative loss of a hot commodity like Apple without considering other hot stocks would cause me, as a boss, to send him down to the mail room. Every company took a hit.

    The author would have the Apple execs stripped of their bonus because Wachovia loaned some burger flipper a quarter million for a house, several thousand times.
     
  9. macrumors regular

    Joined:
    Aug 7, 2008
    #9
    Nope. We're not complaining (about the pay raises of Apple execs). :)


    Most of us here are (hopefully) smart enough to realize a few things.

    #1. Apple is currently a successful company. Very successful.

    #2. WaMu, Wachovia and their ilk are failures, bankrupted mismanaged companies that crippled the livelihoods and shattered the investments of millions of people.

    #3. Successful companies and their execs SHOULD be rewarded, and do deserve generous raises.

    #4. Failure companies and incompetent execs NEED to be fired, they need to be punished, and certainly they must be stripped of any bonuses, benes, or raises. Failure needs to be punished.


    Therefore, the author of this article is guilty of irresponsible journalism, he is trying to compare and lump in Apple execs with the same criminal bunch as those greedy overpaid execs that mismanaged, bankrupted and ruined many Wall Street related companies. Simply lousy journalism.
     
  10. macrumors demi-god

    Joined:
    Oct 14, 2005
    Location:
    Virginia Beach
    #10
    IMO, you're being generous by calling it an 'article'. IMO, it's a blog post, and a poorly written one at that. I stopped reading at the sentence that ended "must have the luck of the Irish what with the current economic climates being as it is." :eek:

    Happily used their 'user rating' button at the top to rate the post 1 out of 5.
     
  11. Moderator emeritus

    sushi

    Joined:
    Jul 19, 2002
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    #11
    I still cannot believe that I read that drivel (the so called article).

    Moronic is putting it nicely.
     
  12. macrumors P6

    IJ Reilly

    Joined:
    Jul 16, 2002
    Location:
    Palookaville
    #12
    APPLE EXECS CART HOME MILLIONS WHILE COMPANY FAILS TO PERFORM

    Oh, wait.
     
  13. macrumors 68040

    elppa

    Joined:
    Nov 26, 2003
    #13
    I agree. Mindless Mac bashing with little or no evidence to support your arguments is every bit as dull as mindless Mac advocacy with little or no evidence to support your arguments.
     
  14. macrumors regular

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    #14
    "All opinions are not equal. Some are a very great deal more robust, sophisticated and well supported in logic and argument than others."
    "The Macintosh may only have 10% of the market, but it is clearly the top 10%." -Douglas Adams
     
  15. macrumors G3

    NT1440

    Joined:
    May 18, 2008
    Location:
    Hartford, CT
    #15
    While I dont think ANYONE deserves millions and millions as a bonus when they are already incredibly wealthy, Apple has deffinatly been doing spectacularly recently, and if thats what it takes to keep them there an not spreading apples ideas around, so be it.
     
  16. macrumors regular

    Joined:
    Jan 22, 2008
    Location:
    USA
    #16
    As a shareholder, I think that there's no company I've been happier with than Apple. I think that with the release of the new notebooks that people will be surprised at how resilient Apple is even in this economy.
     
  17. macrumors 6502a

    happydude

    Joined:
    Sep 2, 2006
    Location:
    a gasping dying planet
    #17
    i think most everyone here is spot on. tying APPL to the recent stock market dive without any facts on the company's overall performance is incompetent and worse than that negligent if the story picks up any steam and contributes to speculation of APPL and a downward trend.

    banks trading toxic loans for short term gains caused the financial crisis, not successful companies like apple who have been weathering a currently likely recession beautifully. tech stocks have always been volatile so yeah, they'll take a disproportionate dive, but so did Amazon, Google and Ebay, all companies with a positive long term outlook.
     
  18. macrumors 68020

    Joined:
    Nov 15, 2007
    #18
    And compared to revenues, $120,000,000 is seriously a drop in the bucket.

    It was like 10% of Apple revenue I could see the shareholders being upset.

    This is a journalist trying to make a story out of a non-story.
     
  19. macrumors 603

    Rocketman

    #19
    It is the absolute optimum time to issue stock options!

    Rocketman
     
  20. hob
    macrumors 68020

    hob

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    London, UK
  21. macrumors G5

    Sun Baked

    Joined:
    May 19, 2002
    #21
    Would have been even more cool if their stock awards were keyed to the stock price on the day of issue, yielding an even bigger windfall for them.

    But looks as though it was a shares issued instead, making it a better deal anyway when it comes to reporting to the IRS.
     

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