Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus

[tgc]

Too much.

I'm always shocked at how far apart the average person who buys a companies products and the inner circle that benefit from it. Tim already received a 'huge' bonus for being interim CEO that equated to about the same as 50,000 iMacs and now this.

Not to say he's not worth it, but really, NO ONE is worth that much but it's really the same in every large company and that's why we're in the state we're in as the money isn't spread like this to millions of people to keep spending it to keep the economy rolling.

300+ million dollars is a ludicrous amount of money. Remember when if someone won the million dollar lottery, they'd retire? Affluency for the rich, years and years of working for the average person.

A graphic that might help visualize money...

 

[gnasher729]

Whether or not I buy Apple products doesn't change the fact that they've outsourced all of the labor to build those products to some 4th world slavehouse where people jump off the buildings to escape the crap conditions. What's that you say?

Suicide rate in the USA is about four times higher than suicide rate among Foxconn employees. So what does that tell you?

 

[DAVIDUGLY]

I'm always shocked at how far apart the average person who buys a companies products and the inner circle that benefit from it. Tim already received a 'huge' bonus for being interim CEO that equated to about the same as 50,000 iMacs and now this.

Not to say he's not worth it, but really, NO ONE is worth that much but it's really the same in every large company and that's why we're in the state we're in as the money isn't spread like this to millions of people to keep spending it to keep the economy rolling.

300+ million dollars is a ludicrous amount of money. Remember when if someone won the million dollar lottery, they'd retire? Affluency for the rich, years and years of working for the average person.

A graphic that might help visualize money...

You can look at that chart, or you can hit the drawing board, execute on what you know deep down in your heart you were born to do with unstoppable passion and the commitment to keep failing until you get it right, decades be damned, make your own fortune and stop putting limits on yourself.
Either way.

 

[the8thark]

How can you 'earn' that much? How can you work any harder than a refuse collector on $20K/annum? And consider earnings in the developing world. There is something wrong in the human mind.

I have to agree here.
A lot of people work very hard. Without the apprentices or the garbage collectors or whatever low paid job you can think of the economy would grind t a halt.

Has he earnt his money? Yes. But not by hard work. A lot of other work just as hard if not harder for peanut money. He earnt his money for the responsibility he carries on his shoulders. His decisions don't affect one store or one little business. They affect the entire company (which now has the largest market cap in the world).

Job responsibilities is very different to job hard work.
In my job I work on my feet for 12+ hour shifts. Chef. Very tough work. In ways much harder then Cooks job. No air con offices for me. I don't get his millions. But I don't have the weight of an entire multi billion company on my shoulders.

Responsibilities and not hard work = how high your wages are. If it was baed on hard work alone all the people doing 12+ hour shifts (6 days a week sometimes like me) should be earning the millions. But it just does not work this way.

 

[Piggie]

I must admit, I always doubt the input these people have.

I mean just what is the guy going to actually do?
It's not like being a dictator when you really call the shots.

Do you think all the junior managers just sit there looking at him waiting in silence for him to say, you do this, you do that and this if the colour we should make it.

I'd imagine the company it on very long straight rails and there are many people in charge of keeping the train running on the straight path.

I'd question what he will personally actually do to really change anything.

 

[tgc]

It should...

Job responsibilities is very different to job hard work.
In my job I work on my feet for 12+ hour shifts. Chef. Very tough work. In ways much harder then Cooks job. No air con offices for me. I don't get his millions. But I don't have the weight of an entire multi billion company on my shoulders.

Responsibilities and not hard work = how high your wages are. If it was based on hard work alone all the people doing 12+ hour shifts (6 days a week sometimes like me) should be earning the millions. But it just does not work this way.

It should...

I think people mistakenly think that the CEO bears the responsibility of the company. In a company their size, you have active board members, risk analysts, PR spinners, legal, etc., etc. all in a room funnelling into the decision making process and have yet to find a publicly traded company that one person has that much influence that if they say to go down a path that everyone is against, they follow.

I don't need to make a million dollars ... i just want to work in a job that respects me, allows me to buy a house, fix my car when it needs it, have a vacation or 2 a year to recharge and to save a little money for my kids education and my retirement.

Working 72 hour work weeks, you deserve to get paid as much as the CEO. There's an airline company (WestJet) that their guidelines is that the CEO should not be paid any more than 10 times the lowest paid employee. This is such a great guideline.

Hopefully your home life reflects the hard/long work you do... if not, the system is broken as I've always said, you need the janitors just as much as the CEO ( no, I am not a janitor ;-) )

 

[LeoFio]

I have to agree here.
A lot of people work very hard. Without the apprentices or the garbage collectors or whatever low paid job you can think of the economy would grind t a halt.

Has he earnt his money? Yes. But not by hard work. A lot of other work just as hard if not harder for peanut money. He earnt his money for the responsibility he carries on his shoulders. His decisions don't affect one store or one little business. They affect the entire company (which now has the largest market cap in the world).

Job responsibilities is very different to job hard work.
In my job I work on my feet for 12+ hour shifts. Chef. Very tough work. In ways much harder then Cooks job. No air con offices for me. I don't get his millions. But I don't have the weight of an entire multi billion company on my shoulders.

Responsibilities and not hard work = how high your wages are. If it was baed on hard work alone all the people doing 12+ hour shifts (6 days a week sometimes like me) should be earning the millions. But it just does not work this way.

The definition of hard work is subject for debate. Take the waste collector for example. Is it hard physical work? Yes. Does it take much intelligence to do it (no offense to those out there - it's work that I'm grateful that's done and I wouldn't want to do it myself)? Not really. Now take the CEO for example. Is it hard physical work? No. Mental work? Yes. While they are not the only one running the company, they are the one who is responsible for anything that happens on their watch and have to answer to everyone.

Being responsible for a company like Apple with a market cap of $355 Billion has high stakes and I'm sure it's stressful and very testing of one's capabilities. $383 Million is a relatively small price to pay for a company of this caliber to someone they feel can take charge and lead the company into the future.

My salary is average for the typical American, but I respect those that make much much more. I'm sure to get to the position they're in takes years of dedication and hard work. A company isn't going to let just anyone be CEO. If anyone here feels differently, stop complaining about those who make more and do something else with your life. There's new millionaires born everyday. Personally, I like what I do for a living and it's not all about the money.

 

[jmpnop]

Edgy Steve Jobs apparently is.

Honestly I don't think anyone can equal Steve Jobs, he simple is better than others. Lets hope Apple continues to make great products..

 

[Ironworker808]

The complaints and rationalization of those complaints in this thread certainly disprove the "Mac users are more intelligent" survey.

 

[mac jones]

He'll be fine.

So will the guy who replaces him in 2 years

 

[the8thark]

The definition of hard work is subject for debate. Take the waste collector for example. Is it hard physical work? Yes. Does it take much intelligence to do it (no offense to those out there - it's work that I'm grateful that's done and I wouldn't want to do it myself)? Not really. Now take the CEO for example. Is it hard physical work? No. Mental work? Yes. While they are not the only one running the company, they are the one who is responsible for anything that happens on their watch and have to answer to everyone.

Being responsible for a company like Apple with a market cap of $355 Billion has high stakes and I'm sure it's stressful and very testing of one's capabilities. $383 Million is a relatively small price to pay for a company of this caliber to someone they feel can take charge and lead the company into the future.

My salary is average for the typical American, but I respect those that make much much more. I'm sure to get to the position they're in takes years of dedication and hard work. A company isn't going to let just anyone be CEO. If anyone here feels differently, stop complaining about those who make more and do something else with your life. There's new millionaires born everyday. Personally, I like what I do for a living and it's not all about the money.

In my industry hospitality (I'm a chef) I have cook a lot on my feet at I mentioned above (hard physical work) and I have to plan menus, order food, deal with the managers/other stuff etc etc (hard mental work). So I am doing both.

But I knew before I entered this profession it's low pay scale in comparison of the hard work done. And I'm ok with it. I chose it cause I like the work. Am I worth $1 or $2 more per hour? Yes. But I accept my wages.

Is Cook worth that many millions? No. But he does have a lot of responsibility. He is worth a lot though just not as much as he is getting. And I'm not complaining. I'm happy with my lot in life. My whole point is that CEOs are pretty over paid in comparison to work done. But that's how life is I guess.

 

[Sasha Trice]

is it just me or does this just sound insane? 80% of Americas wealth is held by 10% of the population..Tim Cook isn't worth that much..no one should be when some people lives are worth so little.

 

[msm859]

No modern republic has EVER survived for all that long with the income disparity we now see in America. None. Cook is vastly underpaid if you put him on the list of the biggest salaries in America, where the top few percent own 80% of the wealth.
Gonna be a big explosion one day. Book it.

Agreed. Bring on our French Revolution. I am amazed how many people don't see the writing on the wall. It does not help society to have 400 families have more wealth than 1/2 the population. If all of the employees of Apple were making 10x the average for their position then maybe Cook's salary could be justified. Right now it is not justified and more importantly not good for society. And if they can afford that type of salary why are they trying to cheat on their taxes and lobbying congress for a tax holiday to bring in offshore profits?

 

[Sankersizzle]

He should use it to buy firearms for the poor.

Post of the year!

 

[GaresTaylan]

Suicide rate in the USA is about four times higher than suicide rate among Foxconn employees. So what does that tell you?

You're comparing the suicide rate of Fonxonn to the entire country of the United States? Hell, I would hope it would be higher in the USA, then.

 

[Sankersizzle]

You're comparing the suicide rate of Fonxonn to the entire country of the United States? Hell, I would hope it would be higher in the USA, then.

He's saying the percentage of FoxConn employees that kill themselves over the total number of employees in the population is lower than the total number of Americans that kill themselves over the American population.

 

[GfPQqmcRKUvP]

Whether or not I buy Apple products doesn't change the fact that they've outsourced all of the labor to build those products to some 4th world slavehouse where people jump off the buildings to escape the crap conditions. What's that you say? It's cheaper to make the products there so your beloved shares will retain their price? Well how about this... you take some of that ridiculous $383 million and spread it among the people who really work their asses off to make Apple successful and keep the labor here in our country. Better conditions for the workers and better revenue for our economy. Heaven forbid Tim Cook has to give up his 9th yacht to do that.

The suicide rate at the overseas factories is lower than the general population.

What people need to remember is that stock options are granted at a strike price. That is typically the price of the stock on the day the board granted the stock options, or higher, if you wish to be on the safe side with the Feds. So Tim Cook will be awarded 500,000 stocks in 2016. Assuming a strike price of $383/share and a stock price of $683/share he would have a profit of $300/share x 500,000 shares = $150,000,000 ./. 5 years = $30,000,000 per year, but not actually paid until year 5.

These are RSU's, not options.

 

[danpass]

The complaints and rationalization of those complaints in this thread certainly disprove the "Mac users are more intelligent" survey.

Yep, and we see who will never make more of themselves.

They just don't understand and they keep listening to the wrong people.

 

[JForestZ34]

The definition of hard work is subject for debate. Take the waste collector for example. Is it hard physical work? Yes. Does it take much intelligence to do it (no offense to those out there - it's work that I'm grateful that's done and I wouldn't want to do it myself)? Not really. Now take the CEO for example. Is it hard physical work? No. Mental work? Yes. While they are not the only one running the company, they are the one who is responsible for anything that happens on their watch and have to answer to everyone.

Being responsible for a company like Apple with a market cap of $355 Billion has high stakes and I'm sure it's stressful and very testing of one's capabilities. $383 Million is a relatively small price to pay for a company of this caliber to someone they feel can take charge and lead the company into the future.

My salary is average for the typical American, but I respect those that make much much more. I'm sure to get to the position they're in takes years of dedication and hard work. A company isn't going to let just anyone be CEO. If anyone here feels differently, stop complaining about those who make more and do something else with your life. There's new millionaires born everyday. Personally, I like what I do for a living and it's not all about the money.

Sure the CEO takes the heat for all that happens with the company when something goes wrong, but he is FAR from the one who makes decisions.. I hate to say it but the CEO is nothing more than a figure head for the company.. Anything major has to go by the board of directors because THEY are the one really running the company.. The CEO works for them, the board is the one's that own a majority in the company..

Almost $400 million he will make of this transition. I hope it doesn't go to his head..


James

 

[AaronEdwards]

Suicide rate in the USA is about four times higher than suicide rate among Foxconn employees. So what does that tell you?

It doesn't tell me anything. What, exactly, does it tell you?

The US isn't China, and their suicide rates differ.

And some questions.
What is the suicide rate among employed vis unemployed?
What is the suicide rate among workers in China?
What is the suicide rate among factory workers in China?
How are suicides reported in the US? And in China?

According to wikipedia suicide rates among men are higher in China than in the US, but lower among women in China than in the US.
Do Foxconn employ more women than men?


----

If you would compare the average or median wage between the US and China, you might come to the conclusion that that there aren't any poor people in the US, or that people in China are dirt poor.

 

[AaronEdwards]

He'll be fine.

So will the guy who replaces him in 2 years

What happens if Tim Cook is fired in 2 years? Or if he ends up getting demoted?
Does he still get the shares? Because I doubt many CEOs would sign a deal where they would lose these if the board kicks them out or demotes them.

And will the new CEO also get the same kind of bonus? And so on?

If the iPhone 6, the iPhone 7, and the iPhone 8 all are underwhelming, will the board still keep Cook as CEO?

 

[Papajohn56]

This is far too much money for one person to receive as a bonus.

Who are you to determine that? What makes you the judge?

 

[mdriftmeyer]

It's rather sad that Slashdot seems to be able to pick up on the restrictions of this contract that Tim's valuation is directly dependent upon the prosperity of the Corporation--no better way possible to motivate an executive, and all the naysayers screaming in this thread don't get it yet.

The stock is restricted for 10 years. No bonus until after 10 years in this allotment of shares.

 

[MagnusVonMagnum]

The new CEO gets a $383 MILLION dollar bonus, while the workers over in China get $3.83 a day. And people wonder why many of us despise large corporations.

 

[Individual]

The new CEO gets a $383 MILLION dollar bonus, while the workers over in China get $3.83 a day. And people wonder why many of us despise large corporations.

I guess I'll sum up the answer you will soon get: "But.. but he worked for it! He deserves it!"

..As if those people working 13 hours a day seven days a week in China don't deserve better, eh?