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

I'm slightly bemused by all this news activity and the speculation about Apple's stock tanking and everything going to hell post-Steve. Correct me if I'm wrong, but hasn't Tim Cook more or less been running the company for the last few years with Steve's guidance? Seems to me that Steve's resignation and Cook's promotion just makes everything official. Given that, I expect we'll see little change in anything about Apple or their products.
 
Xenomorph said:
I'm not too familiar with Tim Cook. Is there a made-for-TV movie of him that I could watch? I know a lot of people learned about Bill Gates and Steve Jobs that way.

:apple:
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Unfortunately, they need to update that movie. At the end it says "Microsoft now owns part of Apple"....

LOL.. not anymore they don't.
 
TwitchOSX said:
Unfortunately, they need to update that movie. At the end it says "Microsoft now owns part of Apple"....

LOL.. not anymore they don't.
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Seriously.

Apple won the WinTel war.
This was clear with the breakup of HP.
They own the next generation of computing which Microsoft has yet to crack successfully.
 
Good move by Apple. Goes to show just how important Cook is for the company and the confidence the board has. Assuming the stock price stayed the same after 10 years, I wonder if the $383 million is equal to or more than the entire Apple payroll for 10 years.
 
inkswamp said:
I'm slightly bemused by all this news activity and the speculation about Apple's stock tanking and everything going to hell post-Steve. Correct me if I'm wrong, but hasn't Tim Cook more or less been running the company for the last few years with Steve's guidance? Seems to me that Steve's resignation and Cook's promotion just makes everything official. Given that, I expect we'll see little change in anything about Apple or their products.
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This transition has been in the works for a while now. Jobs didn't just walk in the other day and surprise everyone by resigning. He hasn't been too involved with things for several months now. His health is not good and has been steadily declining.
 
Tim got nothing this week!

danpass said:
does this stock package pay dividends starting right now?
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Tim did not get anything of real value this week.

He got a promise that *if* he's still at Apple in 5 years, he'll get 500,000 shares (actually, about 350,000 shares since about 150,000 will probably be sold immediately to cover the income taxes on the shares). The value of the shares won't be today's value, it will be the value in 5 years.

There's a second promise of another 500,000 shares if he's still at Apple in 10 years. Same conditions.

This is less about rewarding Tim for hard work, and more about making it very expensive for any other company to hire him away from Apple.

Tim will just have to learn to live on his current $59M/year compensation for a few more years.
 
AidenShaw said:
Tim did not get anything of real value this week.

He got a promise that *if* he's still at Apple in 5 years, he'll get 500,000 shares (actually, about 350,000 shares since about 150,000 will probably be sold immediately to cover the income taxes on the shares). The value of the shares won't be today's value, it will be the value in 5 years.

There's a second promise of another 500,000 shares if he's still at Apple in 10 years. Same conditions.

This is less about rewarding Tim for hard work, and more about making it very expensive for any other company to hire him away from Apple.

Tim will just have to learn to live on his current $59M/year compensation for a few more years.
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Poor guy.
 
sumone said:
Tim doesn't seem like he has the same edginess that Steve has. I'm not all that excited with him as CEO.
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I don't doubt that Apple has talent from bottom to top, but no one there has Steve's charisma. Keynotes by Cook, Schiller, Forstahl, etc. are ho-hum. Sadly, the generator of the Reality Distortion Field is being powered down.
 
I can't believe how people are bitching and moaning about his compensation. That is a token commitment from the board for his 10 year commitment. For the billions Apple has proven it can make under GREAT leadership versus the disaster it has also proven (nearly going under if it weren't for Microsoft providing cash to help) under bad leadership, this is a good investment to KEEP continuity of the vision and momentum. It doesn't cost them anything to give stock options and his benefit is directly tied to his success (stock price). He provides real value to the company while the complainers are probably sad sacks who've done nothing with their lives.
 
ptysell said:
Apple won the WinTel war.
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With Apple's 5% of the personal computing market they won the war? Really? :rolleyes:


ptysell said:
This was clear with the breakup of HP.
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Breakup of HP? You're on good drugs.

HP is just planning on doing what IBM did about 7 years ago - divesting the low margin client business.

You'll still see HP at the top level of x64 servers, as well as the real mainframes running HP-UX and OpenVMS.

When the Asian OEM factories like Asus started building their own retail businesses, it's no longer profitable to have those own factories building tier one labels.

When Apple drops its insignificant server line, the Apple fans say "good move, nobody was buying them".

When HP prepares to divest its client line, the Apple fans say "HP is being broken up, Apple won".
 
hsotnicam8002 said:
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. :(
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I hate to break it to you and your little egalitarian fantasy, but there are disparities in both skill and abilities when it comes to people.

There are significantly more people who can perform the work of a refuse collector compared to those who could guide a major corporation through its day to day operations. As such, it's a given that you're going to see significant differences in salary.

More than that though, it's a function of value they can provide to the organization. Cook, and others like him, do more in that sense than you're willing to consider.

And that's rather shortsighted.

TMar said:
If what you should make is based off of your knowledge and education how is it that all those athletes make so much money? I hate to say it but you kinda sound like someone who has never really done a real hard day of work. Work is work and is completely equatable weather it's done with the mind or the hands. A police officer probably just as hard as Tim will this year and keep safe, hell a few will even die keeping people safe but they're not doing as much as him right? Because they're not really using their heads. Linemen are the same working hard to keep your lights on and some while die while on the job this year, keeping your lights on. But they're not really working either since they're not using their heads. If these people that weren't using their heads picking up trash finally realized that they weren't really working because they're "dumb", I'm sure you would be complain about the stench.
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Simple supply and demand. Quit complaining; it's not an issue at all. There's literally zero effect on your or I because person X gets paid $Y.
 
TwitchOSX said:
I know when he came back in 97 or 98 they gave him a personal jet to the tune of about 35 million back then.
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That's a nice toy that's very expensive to maintain.

Steve Jobs should have been given millions in stock options/bonuses annually. If any CEO on this planet deserves it, it's Steve Jobs! If he hadn't sold Next to Apple and came back as it's CEO, Apple would have been out of business years ago. I don't think there's anyone that can deny this fact.
 
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