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Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus
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The original post on the front page said 38 million dollars. They have since fixed it since everybody here started complaining.
400x what a good engineer would get
Assuming a GOOD engineer at Apple makes $100,000 per year, the CEO will be compensated 400x as much over the coming decade just for showing up each day, with none of that money tied to performance. He'll no doubt get additional compensation in the form of salary and bonuses. I like Apple, but it's hard not to see this news as irresponsible and an example of excess in the top tiers of corporate America.
Assuming a GOOD engineer at Apple makes $100,000 per year, the CEO will be compensated 400x as much over the coming decade just for showing up each day, with none of that money tied to performance. He'll no doubt get additional compensation in the form of salary and bonuses. I like Apple, but it's hard not to see this news as irresponsible and an example of excess in the top tiers of corporate America.
Change we can believe never happened.
Plutocracy and oligarchy are alive and flourishing in the US.
Yes we can be greedy.
This stock award is worth just over $383 million at current prices.
Current prices, yes, but factoring in inflation, trends, future performance extrapolated from the empiricals implicit in their past behavior, his options should be worth on the close order of one gajillion dollars.
Current prices, yes, but factoring in inflation, trends, future performance extrapolated from the empiricals implicit in their past behavior, his options should be worth on the close order of one gajillion dollars.
He can only start collecting in 2016. Somehow I don't see Cook as highly motivated by greed like Steve Ballmer.
I understand what you're saying but mind you no engineer at Apple can single-handedly destroy the company.
Given Apple's location, I would be surprised if their 'good' engineers only make $100k
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.
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.
Well.. what he's doing is a LITTLE more important than picking up trash.
It is kind of generally known that Apple doesn't pay more than that to Engineers how much ever good they may be. Not sure of very recent changes though.
The salary/bonus/stock selling - This is another key difference between Jobs and Cook - Jobs wasn't motivated by money ($1 salary, don't think he sold a whole lot of stock regularly etc.).
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.
They are shares.
It's relative to how much Apple can afford to (and wants to) give him. When you're worth $80 billion, you can rest assured that that $300 million (in shares) is a drop in the bucket, and frankly, it's a good bet that Apple's made that back as we speak. Further, Apple wants to *keep* this man. For a long time. He's been with Apple for along time and has been instrumental in getting that cool $80 billion Apple is now sitting pretty on.
Refuse collectors?? Seriously?? Refuse collectors don't use their heads and most of them don't have the sort of education, experience and vision it takes to be CEO of Apple. There is absolutely ZERO comparison. I'm quite honestly shocked you would make such a comparison.
You might try a comparison to a neurosurgeon or someone expert in cardio-thoracic medicine, for example. However, it still wouldn't be quite a fair comparison because corporate salaries (and this isn't even a salary) are a different beast. Relative to the money Apple makes, they can certainly afford to offer a CEO that much in stock - it's very proportional. It isn't even a salary! They're shares.
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CEO Compensation
I love Apple products as much as the next person on this board.
BUT - This is an insane amount of money to one person. It is morally bankrupt of the board to give him this award. I know this is not unique to Apple, but MY GOD!!
Sorry. I like capitalism, but this is just plain out of control.
I love Apple products as much as the next person on this board.
BUT - This is an insane amount of money to one person. It is morally bankrupt of the board to give him this award. I know this is not unique to Apple, but MY GOD!!
Sorry. I like capitalism, but this is just plain out of control.
My boss (plastic surgeon) makes a cool $1.75M annually and is the 3rd highest paid Texas public employee behind two UT head coaches. His private practice brings in double that annually.
http://www.texastribune.org/library/data/government-employee-salaries/
BUT he has to stay 10 more years to get it. Five years to get half. And there's NO guarantee that current price will stay this high.