Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus
- Thread starter MacRumors
- Start date
- Sort by reaction score
Not to be a dick, but that's the same ******** excuse that the banks used to give massive bonuses to their CEOs after they personally ****ed America in the ass, and then asked us to clean up their mess with our tax dollars. I think the "vision" of Apple is cranking along at full speed and Cook or just about four million other MBAs could easily crack their whip against the army of Apple employees who actually do the work. Cook is a machine and he is easily replaceable. That he and his fellow CEOs have managed to fool people into thinking it's ok to pay people who don't really do anything tangible obscene amounts of money for their "value" shows the naivety of the shareholders and anyone who supports them.
That seems to assume that the lowest class has the highest suicide rate. Who is the largest demographic in the suicide rate for the USA?
Apple has a rather unique culture and Cook has been steeped in that culture. He has been groomed for the job for years, and has the earned the respect of the management team. He already knows first hand what it takes to run Apple to ensure a seamless handover. This is why there was no implosion of the stock price.
No random whip cracking MBA would have any real clue how to keep Apple running like the well oiled machine that it is. If they chose someone like this the stock would have imploded.
The compensation they are offering is small to keep the most valuable tech company in the market sailing smoothly.
Reminds me of a nice little IT-company where i'm at. Every year the owner (and CEO) of the company that shares the (full) profits with his employees. Do i have to say that people love working there, and do a hell of a job? :- )
Why? In the words of the CEO:
It is the employees that have helped build this company. I have enough, and dont really care for fancy houses. I got a raft (or a float), thats enough. I would be ashamed of myself if i started buying a lots of things.
* were talking millions here.
p.s. ironically enough the company is specialized in building performance-based management systems and such.
Totally agree. Also, Cook has been the primary guy on the quarterly conference calls and really knows his stuff. He's a great choice and will keep Apple strong.
He's more responsible than anyone else for restructuring the company into the lean beast it is now, bringing their pricing in line with market needs, developing their relationships with their part vendors, and making sure that their products are as available and have the QC as people have come to expect. This has been THE most important factor for turning a company that was nearly bankrupt into one worth almost $400 billion from a practical operational and structural standpoint. To think he doesn't deserve this money is moronic. Perhaps when you achieve something even remotely close to this magnitude, you would have an appreciation for the years of work, rigorous schedule, and monstrous talent for business that it takes.
----------
Ah, well since you saw it on the Internet.... it MUST be true. He might be gay, but I highly doubt he feels the need to worry about such petty tabloid things when he's been COO of the company with a legendary workload for over a decade. Only people who are really bored and obviously don't have enough going on in their own jobs really pay much attention to the personal lives of others. That's why, of course, the "gay press" that's crowing about it so much is none other than Gawker/Gizmodo, who seem to have a fixation on it, and if it'll "damage their brand." Tacky, and sad, that people even give a damn.
Apparently you haven't spent much time with many of those other 4 Million MBAs. If you had, you would realize that they would have converted Apple systems to running Windows NT 3.5 back in the 90's, like all those other companies did, and Apple might, if we were lucky, exist as a small volume luxury professional PC nameplate. There would likely have been no iPhone. But, if there had been, it would have run Windows Mobile. MBAs believe in the "IT Department" no matter how bad the service is. They exist to keep the machinery of industry well-oiled with Excel.
100k for a genius then? Most of Apple's staff consists of retail, distribution and costumers support personel.
Go back to the original post where someone was complaining about Cook making 100 000 times what Apple employees made. If you want to get pedantic there is an average Apple salary out there that includes retail. I believe the number is about 45k. Realistically Cook will get 50-60 Million a year.
That is still near 1000 times what workers make, even if Cook makes 90 million that is still only 2000 times. Nowhere near the 100 000 time claimed that I was pointing out as completely wrong. Do you understand orders of magnitude and the pointlessness over splitting hairs when one number is an appropriate ballpark and the other is off by two orders of magnitude.
Is executive compensation ridiculous? Yes. As is celebrity compensation, ball player compensation. Everyone in top postions in our society is ridiculously overpaid. Do you have a point beyond that, which is unique to Apple?
Cook is the best man to be leading the number #1 tech company on the planet. You really can't argue that he doesn't deserve #1 compensation comparable to the top of the industry.
If you are starting a crusade against overpaying the ultra rich CEOs/Sports Stars/Celebrities, great. Let me know when you have one idea that goes beyond whining anonymously on internet forums.
Well at least he had the balls to speak about it. Unlike some others. Those people ARE overpaid. Simple fact. Not much you can do about it. Cause you complain to the government and the rich people just bribe the government officials to pass laws that keeps them in their rich decadent lifestyle.
Can't win really.
Well the only way is to complain. And if the government says "we don't care for the little people" then all the little people need to not vote for them and get them out of power. Works if the masses take part
If the government told me that I'd tell them to their face "well you just lost my vote".
He hasn't done anything to deserve it yet and I don't think that ANYONE can be of $383 million value to any company. That's just ridiculous
I don't think it is brave. It is just your typical Apple haters slagging on Apple for standard industry practice.
It is just like slagging on Apple for doing contract manufacturing in China. Hello, reality calling. Everyone does that.
If you want to know where the problem is, it is with the voting patterns of your Fox news watching neighbors.
Fox was great recently in highlighting this when Buffet called for an end for tax cuts for the wealthy. Fox turned that into "class warfare" and claimed that it really is the poor who aren't paying enough taxes.
The Tea Party voters who are the poor actually lap that stuff up.
I am freaking dumfounded that a certain segment of the lower and middle classes will actually buy into the tea party nonsense. Yeah. I should pay more taxes but the wealthy shouldn't.
So if you want to be "brave" find an appropriate venue to deal with Fox/Tea Party.
Don't slag Apple for doing what it must to keep its CEO in the crazy environment we all operate in.
Did it take you your whole life to figure out that endorsing that crap plays right into their mindset? The world can be changed, but not by people that just accept that life sucks and so what, just let the upper-ups keep fracking over the middle class and expanding the gap between classes.
The average Apple employee in the U.S. doesn't make much, if anything, above minimum wage (you know all those not-so-geniuses working at the Apple stores) and Apple's 'contracted' employees work in China for even less and are about to be replaced by robots, no less.
I think all those people are insanely overpaid and living charmed lives, far from the reality of the average person and light-years from 3rd world countries (which the U.S. is heading towards becoming in many respects).
Two words: So what? What makes Cook any more unique than anyone else with a similar education? Some kind of stereotype about better style or taste? Until he proves himself capable, he's just another guy to me. Giving him a bonus before he even takes over is absurd, IMO. And your argument illustrates just how dishonorable corporate mentality is to begin with. There's no loyalty or honor in jumping to the highest bidder, but that seems to be what is expected in business. It's also part of what's wrong with modern society. Even the Japanese who have traditionally valued honor above most things seem to be heading down the Westernized road of more more more. Maybe Western society has become irreparably corrupt and like Rome before us, we're on our own downward spiral into a foot-note in history because if history has taught anything, it's that greed and honor are on opposite sides of the playing field.
He won't get paid until 2016 and 2021.
Don't jump on assumptions. If his performance is not good, which I would doubt, the board of directors would appoint someone else and his bonus is gone.
The bonus shows that Apple is confident in Tim Cook.
Server farm on Mars. Minimum 128GB ram in the iphone 18. Quantum computing for your ipad 19. And 1080p videos on itunes 129.
He already had just over $20m worth of stock options before this, but that's a substantial hike. I guess if it displays to the world that Apple is in good, safe hands and their growth keeps continuing, it's worth it.
Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_3_5 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8L1 Safari/6533.18.5)
There should just be a worldwide agreement that every time a CEO gets a million+ dollar bonus everyone in the world gets a loaf of bread.
Edit: Ok maybe not everyone... If there's 6.9 billion people in the world at a little more than a dollar a loaf it would cost quite a bit. Maybe every family gets a loaf of bread. The point is we all get bread when some CEO gets a bonus.
There should just be a worldwide agreement that every time a CEO gets a million+ dollar bonus everyone in the world gets a loaf of bread.
Edit: Ok maybe not everyone... If there's 6.9 billion people in the world at a little more than a dollar a loaf it would cost quite a bit. Maybe every family gets a loaf of bread. The point is we all get bread when some CEO gets a bonus.
So he did all these wonderful things that people say he did at Apple and he only got paid $58 mil? So what is the value to the company to pay him $383 million now just as he got a title change?
That is an insane amount of bonus, that is for sure.
That is an insane amount of bonus, that is for sure.
