Steve didn't choose Forstall as the CEO, he chose Tim Cook.
Jobs made the best decision for the long-term sake of the company.
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Apple CEO Tim Cook Could Earn Nearly $50 Million in Compensation This Year
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Jobs made the best decision for the long-term sake of the company.
Their job isn’t to make Apple products ‘more affordable to the masses’. Their job is to keep the company profitable and growing, while maximizing shareholder returns.
Isn’t it amazing how some people demonstrate endless generosity with other people’s money?
Because your job is easily replaceable that’s why you do not make c-level pay. Yet I do not believe every public for profit consumer oriented company is run as well as apple (which of course is my opinion and one may disagree with) - which says to me people at the top although replaceable some are not easily replaceable.
Here is another way of looking at this: Most people's wages don't keep up with price increases. Businesses like Apple make record profits whilst people's spending power keeps decreasing. If you are one of the fewer lucky ones in this forum who are able to counter this, then regardless of that every dollar you earn now is still worth less than it was last year. Money is being shifted away from individuals and towards big corporations that try to minimize paying taxes.
Your work (time) has been devalued considerably over the last couple of years. That being a given, I don't really have much enthusiasm for the paychecks of billionaires, as well-deserved as they may be. Every newborn in America now has debt that will soon reach the $100k mark. And guess who shifts their profits to Ireland to avoid paying tens of billions in taxes in America.
Your work (time) has been devalued considerably over the last couple of years. That being a given, I don't really have much enthusiasm for the paychecks of billionaires, as well-deserved as they may be. Every newborn in America now has debt that will soon reach the $100k mark. And guess who shifts their profits to Ireland to avoid paying tens of billions in taxes in America.
Not really. It's either stock buyback or dividends (both of which enrich the shareholder). Either way, the money is not finding its way to the employees unless they themselves hold stock of said company.
My counterpoint would be - are you the only person in the world capable of doing what you do?
If so, then you have more leverage to negotiate a higher salary.
Else, how much you earn is kinda limited by what the next employee is willing to accept, all other things equal.
Which goes back to the argument about celebrity salaries. There aren't many people like Tim Cook capable of managing a trillion-dollar company, much less manage it well, which is why he is able to command the salary that he does. Likewise, there's only one Rock or Ariana Grande or Messi. Each of them enables a very unique experience. Yes, the Rock isn't the only beefcake actor in Hollywood, but people do pay to see him in theatres, and that's why he has negotiating power to be paid what he is to star in movies.
A lot of it really boils down to simple supply and demand.
That’s the flaw: supply and demand doesn’t apply here. There are plenty of people who could do what Tim Apple does, or what The Rock does, or be autotuned while singing songs an LA songwriter wrote for them. Virtually anybody with an ordinary half decent education and desire to learn on the job could fill those shoes. The only limiting factor is that few people ever receive the opportunity.
There’s plenty of supply of beefcake actors and moderately attractive women capable of lipsyncing on stage. If anything, the demand is simply fulfilled by the few who manage to be at the right place at the right time to get the job, or more often, be born to the right parent who already works for some studio or label in Hollywood/NYC/LA/Nashville giving their kid the leg up over any other equal talent like you or me. If Hollywood needs another pretty face actor or singer, there’s never a shortage of supply.
You just made the case for why demand works. Because of imperfect supply. It doesn’t matter that there might be a thousand other people like Dwayne Johnson (or better). What matters is that only one managed to find its way to me. No point dwelling with hypotheticals.
It doesn’t work. A thousand better potential candidates were never even considered because the privileged few born into the right families or inheriting these well-paid positions are the only people ever afforded the opportunity to prove their ability.
I stand by what I said. Anybody could do that job. Privilege precludes most people from ever receiving the opportunity to demonstrate it, creating the false perception that few others are capable.
I guess "anybody" would include me.
As an Apple shareholder, the last thing I'd want is having me as the CEO.
Compensation just sounds so absolutely the wrong word to use for this situation!
I don't actually dislike Tim Cook in terms of what he's done for Apple's stock value and success, but I definitely feel there has been some selling of Apple's soul along the way. I guess that was always going to happen after the passing of Steve Jobs.
I'm also sure if you met him in person, he's probably a pleasant enough chap.
Perhaps that's the problem? Maybe it should? It did with Steve, even if he may have disagreed, it definitely was something he'd have thought about.I’m pretty sure the mouse charging port issue is not something that disturbs Tim’s sleep.
A COUPLE of upgrades!?!? It was believable until that! haha.
Sure he will. If you buy a 20 buck cleaning cloth he'll give you a 5 buck Apple coupon.
couple hungy? He's well and truly in the B club!
Can you explain why he isn't allowed to fly commercial? For security reasons or image reasons? This is a serious question.
I don't actually dislike Tim Cook in terms of what he's done for Apple's stock value and success, but I definitely feel there has been some selling of Apple's soul along the way. I guess that was always going to happen after the passing of Steve Jobs.
I'm also sure if you met him in person, he's probably a pleasant enough chap.
Please explain how you think it works.
Lets say you work in a donut shop. Its own by a guy. You have an agreement for the cost of your labor. You do the labor, the shop retains the profit — and as the guy owns the shop, he keeps the profit.
Is that obscene?
Literally millions of people own Apple stock. Apple employees perform their labor. The company retains the profit. When they issue dividend, they explicitly give those profits back to their stock holders, ie their owners. When they buyback, they explicitly give it to some owners (the sellers), and implicitly to all the other owners (by raise of value).
Is that obscene? Is that different from above example?
If you think yes, tell me who you work for, and explain how its different.
People who own things are entitled to the profits of said things. Crazy, right? Good news: if you want to own Apple, its available to you in the public market. Elitist?
Excellent Tim, well deserved.
Apple CEO Tim Cook could receive close to $50 million in compensation if Apple meets all of its financial goals, shareholders decided today in an annual meeting that was highlighted by Bloomberg.
Cook is set to receive a $3 million base salary, a $6 million cash bonus, and stock awards that are worth approximately $40 million. Cook's salary is down around 40 percent, as he received $99 million in 2022. His pay will be tied closely to overall company performance, with the shift introduced after shareholders became upset about his pay package.
Shareholders approved a proposal that will see executive salary decided with an annual vote, and other Apple executives will earn around $27 million each in 2023. This includes chief operating officer Jeff Williams, general counsel Katherine Adams, retail head Deirdre O'Brien, services chief Eddy Cue, software head Craig Federighi, chief financial officer Luca Maestri, and others.
Several measures that Apple asked investors to reject did not receive enough votes to pass. Shareholders had proposed a civil rights audit on Apple's diversity efforts, called for Apple to report on its reliance on China on an annual basis, and asked Apple to report on pay gaps at the company.
All Apple board members were reelected, despite proposals calling for the removal of Al Gore and Tim Cook.
Article Link: Apple CEO Tim Cook Could Earn Nearly $50 Million in Compensation This Year
