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Apple Board Modifies Tim Cook CEO Bonus Stock Award to Be More Performance Based
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But Steve also hired Forstall and worked with him for nearly 20 years. Perhaps Steve knew something that others don't?----------
True. But so many fanboys here who can't stand even the slightest critic. "APPLE IS FINE COOK IS AWESOME EVERYONE ELSE IS WRONG!!!" Drama.
This is signal from Cook that he doesn't believe in the future of Apple.
That's mostly Haswell, not Apple. Samsung just announced their new Ativ Book 9. It also get's 12 hours of battery life, but with a 3,200 x 1,800 touch screen. And it's thinner and lighter than the MBA. That sounds more innovative to me.
The job of the board is to maximise shareholder value. You cannot measure innovation. Tim Cook's job is to generate profits which turn into dividends and to maximise the share price. That's how he should be judged and rewarded.
Jump ship and lose millions of dollars in stock options? Would you? I would imagine Apple is a great place to work. The real issue is whether or not Tim Cook can take Apple to the next level. The bigger you get the harder it is to keep innovating because you have more to lose if it doesn't work. That's why so many tech companies over the years have reached a pinnacle and then fallen back as more nimble and innovative companies come in and take over.
Apple's stock price has been based on innovation. The advantage of restricted stock is that it forces Tim to focus on where the stock price will be ten years from now, not six months from now.
I think it is a case of unrealistic expectations. It's affecting Samsung too. The stock never should have hit $700. That was the market buying into the hype. "Analysts" are clamoring for a TV or wearable device but there might not be much of a market for anyone.
Sustaining a company can be harder than building it up in some respects. Trying too hard to bring back a "wow" factor can lead to some poor decisions like blowing much of the cash pile on a dumb acquisition. Eventually Apple will need to enter some new markets and push the envelope forward further, but in the meantime it is difficult to see how any other CEO would have fared any better.
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There is more to innovation than slapping together hardware with the latest specs. Samsung could add a touchscreen because they leave it to Microsoft to write the OS to support it. That said, I do think they are an innovative company. They excel at the supply chain and at vertical integration. Apple's love/hate relationship with them is likely to continue for a while.
Apple's innovations have mostly been in UI and design. They have long since figured out how to avoid commoditization of otherwise ordinary products. Think of them like BMW or Tiffany. They rarely even attempt to compete on specs alone (although they don't ignore specs as much as some people believe).
As with all things, Let's wait until we have real world performance rather than claims. I'm sure that Maverick's has all sorts of tricks that will improve battery life also "when" it comes out, but I'm not going to knock other products based on others that aren't in the world's hands just yet.
Plus, it's windows 8, had it, got rid of it.
I guess we'll find out. With Foretall though I think he was keeping Apple from moving forward. Rumors were he would often throw out the "Steve wouldn't..." line in meetings. If he was doing that around other SVPs I can see where they'd be like "****** you". For me WWDC had a completely different vibe this year, everyone seemed more relaxed and like they were really enjoying themselves up on stage. It's like the tension and the burden of WWSD is finally gone. Forstall being out of the picture I think has something to do with it.
TC will play around to cook for numbers instead of products or innovation. I am sure he is running the topmost company in the world how to meet guidelines and milk his bonus without having to innovate anything substantial.
If Apple promised to give him 1 million shares, give it to him so that he can focus on product....irrespective of the situation, Apple has enough cash to pay him out even at 2021....
This looks silly to cut down someone's pocket just because board members could not make that much!!!!
If Apple promised to give him 1 million shares, give it to him so that he can focus on product....irrespective of the situation, Apple has enough cash to pay him out even at 2021....
This looks silly to cut down someone's pocket just because board members could not make that much!!!!
No one has reviewed this laptop yet to confirm the battery claims or how well the device works with Intel's integrated graphics (Ativ uses HD Graphics 4400 whereas the Air uses HD Graphics 5000). We also don't know the price. Also, it's not lighter than the 13" MBA, though it is lighter than the 13" rMBP.
This laptop is supposed to be released this fall. Lets compare once its out and we also have rMBPs updated with Haswell.
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Not everyone is completely motivated by money. And all these guys are incredibly rich anyway. Lets not forget Bob Mansfield did retire last year only to be brought back after Forstall got the boot. If these guys weren't happy with Cook or thought Apple was a sinking ship they'd retire or go somewhere else. I can't imagine any one of them would have a hard time finding another job.
You sound like someone who's fairly defensive over a computer's CPU performance, a real one, btw, which is non-speculative.
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True. But so many fanboys here who can't stand even the slightest critic. "APPLE IS FINE COOK IS AWESOME EVERYONE ELSE IS WRONG!!!" Drama.
This is signal from Cook that he doesn't believe in the future of Apple.
You got it!
I was talking about the original Macintosh released in 1984. The first Mac Pro was released in 2006. And yes to your other two questions.
"APPLE DIDN'T RELEASE A 5" IPHONE, THEY'RE DOOMED!!!"
"TIM COOK ISN'T STEVE JOBS, APPLE IS DONE!!!"
"MAC PRO HAS CRAPPY GEEKBENCH SCORE, APPLE IS DEAD!!!"
"TIM COOK CHANGED HIS STOCK AWARDS, APPLE IS FAILING!!!"
When this is the criticism that gets thrown around here, how can you possibly expect responses that are any more intelligible than that junk?
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If Apple tells you tomorrow "Microsfot Surface" is better than the iPad and it was made in collaboration, you go and buy it.
Fanaticism is very dangerous when criteria is needed.
it is obvious Apple changed their policy for a reason, if not they would leave it as it was. They has the internal criteria I can see that you and many other can not because you are fan boy. But from the business perspective and after Steve Jobs left Apple is not the same, there will be no more innovations as they used to. Apple is struggling to move in the market to stay a float and on top based on what they did in the past.
This change in policy is a sing (and measurable) of the performance of the CEO. If he does not improve performance he will be replaced and the numbers will be there to prove it.
Buybacks aren't going to cause the stock price to double. One use of buybacks is to combat share creep from exercise of stock options. When employees exercise their options, that results in an increase in the number of shares outstanding, which dilutes the interest of existing shareholders. This can be counteracted through stock buybacks.
And as for WWDC, I think Apple knocked it out of the park. The new iOS looks really nice, and I can't wait to get my hands on it.
Apple speak through the quality of their products. If Apple told us to buy the MS surface, few would cause it's not up to Apple standards. Just like when Apple do something not up to their own high standards like MobileMe, everyone gives Apple **** for it. And deservedly so.
SO what you said won't really happen. Not possible.
Two things:
1.) If I'm correct, what you're saying is that anybody that feels differently about Apple than you do is a fanboy? Not really a way to have a good discussion, wouldn't you think? That said, there is no doubt that Apple under Tim Cook is different than Apple under Steve Jobs. To what extent the difference permeates has yet to be seen, but nobody can judge Tim Cook definitively (whether positive or negative) for at least a few years.
2.) If this change in policy is such a negative indication of the direction that Apple is headed in, why was Cook the one that proposed it?
I agree. Apple hit a home run at WWDC 2013. Mac Pro, 10.9, 1OS7, Xcode 5 etc etc all winners in my book.
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1. No. I was being reasonable. I don't think you really understood what I wrote. I am saying people judge Apple on what they do and not what they say on the whole.
2. This new policy by Cook, I think it's a good idea. I'm all for more job accountability.
I'm confused... I responded to someone else who was disagreeing with you, and I agree with what you said in that post.
It is quite sad to see scripted reactions like
1) On any topic about stock options, 'Oh..this is bad..Focus is now on stock, not on innovation'. Come on people, these guys can do more than one thing at a time. Jeez.
2) Tim Cook is not Steve Jobs. Well, Duh!
3) Apple needs to revolutionize industries every year
4) Every product event by Apple is so wow-worthy that all the apple fanboys fall off the chairs in such a fashion the resulting collective thud is heard back in Cupertino.
5) If Apple does not execute exactly like how they did in the past 10 years they are doomed. The scripted reaction to the sneak peek of Mac Pro is an example. What the hell? iOS 7 can be sneak peeked OK because it has always been done that way but not an innovative machine like Mac Pro. Original iPhone can be sneak peeked 6 months before release but not an innovative machine like Mac Pro. People have their blinders on and react in a scripted fashion on some vague notions of what Apple is about.
Here is the reality
Apple's success is not about innovation alone. It is definitely there for everyone to see. But what is not seen are the execution aspects.
a) The number of things they say 'No' to
b) The number of times they iterate on things until they release
c) The 'go to market' strategy
Steve Jobs was pretty good at all these. That is not the SJ image people have. Especially when they say 'Tim Cook is not Steve Jobs'. But on the above three things, Tim Cook can be Steve Jobs and that is what is necessary for Apple's success. Focusing on SJ the innovator alone, though endearing, is quite a naive point of view.
People instinctively compare SJ the innovator with Tim cook and they do not see that in Tim Cook. Quite True. But there are quite a few people at Apple who can take on the mantle of innovative ideas and design and can be a reasonable substitute for Steve Jobs (and not a perfect replacement ). Johnny Ive is one but there are many others we do not publicly encounter.
For the rest of what SJ was good at, Tim Cook was there learnt under him as a great Lieutenant and now he is practicing them as a great general himself in his own style. He deserves all these stock options and more. He comes across as an idealistic person to me which is consistent with Apple's culture and character. And he is as good a feisty competitor as SJ was. SJ could not have picked a better and more balanced man as his successor.
1) On any topic about stock options, 'Oh..this is bad..Focus is now on stock, not on innovation'. Come on people, these guys can do more than one thing at a time. Jeez.
2) Tim Cook is not Steve Jobs. Well, Duh!
3) Apple needs to revolutionize industries every year
4) Every product event by Apple is so wow-worthy that all the apple fanboys fall off the chairs in such a fashion the resulting collective thud is heard back in Cupertino.
5) If Apple does not execute exactly like how they did in the past 10 years they are doomed. The scripted reaction to the sneak peek of Mac Pro is an example. What the hell? iOS 7 can be sneak peeked OK because it has always been done that way but not an innovative machine like Mac Pro. Original iPhone can be sneak peeked 6 months before release but not an innovative machine like Mac Pro. People have their blinders on and react in a scripted fashion on some vague notions of what Apple is about.
Here is the reality
Apple's success is not about innovation alone. It is definitely there for everyone to see. But what is not seen are the execution aspects.
a) The number of things they say 'No' to
b) The number of times they iterate on things until they release
c) The 'go to market' strategy
Steve Jobs was pretty good at all these. That is not the SJ image people have. Especially when they say 'Tim Cook is not Steve Jobs'. But on the above three things, Tim Cook can be Steve Jobs and that is what is necessary for Apple's success. Focusing on SJ the innovator alone, though endearing, is quite a naive point of view.
People instinctively compare SJ the innovator with Tim cook and they do not see that in Tim Cook. Quite True. But there are quite a few people at Apple who can take on the mantle of innovative ideas and design and can be a reasonable substitute for Steve Jobs (and not a perfect replacement ). Johnny Ive is one but there are many others we do not publicly encounter.
For the rest of what SJ was good at, Tim Cook was there learnt under him as a great Lieutenant and now he is practicing them as a great general himself in his own style. He deserves all these stock options and more. He comes across as an idealistic person to me which is consistent with Apple's culture and character. And he is as good a feisty competitor as SJ was. SJ could not have picked a better and more balanced man as his successor.
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KPOM - those are some cogent points and I agree with them. An example of where I think Tim Cook has blown it is China Mobile - still no agreement after two years + of talking. China Mobile represents over 1 billion subscribers - hard to comprehend. Even a small percentage of that number going to iPhones would be a "wow" event IMO. China Mobile utilizes a one off variant of 3G known as TD-SCDMA. Not compatible with iPhone. However, with Apple's enormous resources and clout, why have they not developed the appropriate chipset and created a real competitive advantage with the world's largest cellular provider?
Given the soon to be MacPro design they may be gearing up for the "Year of 4K" and reenergizing the pro market with 4k monitors and whatever the Apple TV will be. The sneak peek of the MacPro was worrisome - why the hell are we seeing a sneak peek instead of the real thing? Oh, the quick answer some will give is they are waiting for TB2. Fair enough - but why has Cook not gotten with Intel and built a fire under them to accelerate release of TB2 and have something real to sell as opposed to more talk? Cook, IMO, simply does not know how to use Apple's clout and resources to move things along.
I'm confused... I responded to someone else who was disagreeing with you, and I agree with what you said in that post.
Ah fair enough. My mistake
liavman - you say it is sad to see the scripted reactions. Where are your a) b) c) points "scripted from" LOL?