Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple Executives Cash in Over 1 Million Shares of Apple Stock

MacFly123 said:
Ya, that is EXACTLY what I am suggesting! :rolleyes: Something like a flat tax would be MORE than sufficient and the government needs to cut spending drastically! Long story short, I know we need a military etc. but the whole system needs to be reformed!
Click to expand...
A flat tax would never raise the revenue needed. That's a back-door attempt to scale back gov't size and function. It's rather transparent. The progressive tax is the most efficient system available to provide for the general welfare and the common defense of our people.
 
I'm quite astonishes by the greed and selfishness that this kind of story brings up. These dollar figures make people chomp at the bit about how high taxes are. The excuse that this is really about the percentages is a flimsy one. Well, as someone who's been making less than 50K a year for most of my life, I can tell you that the last time I received a $1,000 year end bonus, I took home less than $600 after taxes. We all pay our share.

And for those of you that argue that the taxes are too high, I suggest that you get a copy of the budget (it is freely available, after all), and take a look at where the dollars are going. If you want to have lower taxes, then figure out what services you're willing to do without. Public schools? Oh wait, we're trying not to leave any child behind (despite the fact that the buying power of the average teacher's salary is a fraction of what it was 20 or 30 years ago). Well, how about police? No, then you'd have no one to guard all the money you'd be saving on taxes. Well, how about the military? We live in a pretty much peaceful world right now, and we don't really need a military, do we? Uh, wait a second...

In all honesty, I'd love to see lower taxes. I'd love to have less of a tax burden on my home. But I don't want to get there at the expense of the future (cutting schools), or my safety (cutting police or fire or other public services), or my neighbor's bank account (or my neighbor's health, for that matter) to get there.

It's through sharing the burden and seeing that we're all in this together and we're all here to help lift each other up, not just ourselves, that we will go farther and be better.
 
Snowy_River said:
And for those of you that argue that the taxes are too high, I suggest that you get a copy of the budget (it is freely available, after all), and take a look at where the dollars are going. If you want to have lower taxes, then figure out what services you're willing to do without. Public schools? Oh wait, we're trying not to leave any child behind (despite the fact that the buying power of the average teacher's salary is a fraction of what it was 20 or 30 years ago). Well, how about police? No, then you'd have no one to guard all the money you'd be saving on taxes. Well, how about the military? We live in a pretty much peaceful world right now, and we don't really need a military, do we? Uh, wait a second...
Click to expand...

This is a joke right? There is so much non-essential pork in governmental budgets that if we reduced government to just Schools, Police/Fire, Military, and Civil Infrastructure, we would be rejoicing at how low taxes are.

Go read that budget you're telling us to go read.

-Clive
 
Looks like Tim Cook is expecting the Apple stock to go down.

At least he gives this impression by cashing in such a large number of shares.

Not a good move so close to a new product launch.
 
32 million out of thin air is still 32 million more than hardworking people with less opportunity have a shot at, given how the systems are often set up in society.

I'd argue that its a fair trade when one is supported by the infrastructure (people and physical) that make up a great this great Nation.
 
Or, Tim didn't have a spare $32M in his checkbook

Nostromo said:
Looks like Tim Cook is expecting the Apple stock to go down.

At least he gives this impression by cashing in such a large number of shares.

Not a good move so close to a new product launch.
Click to expand...

Please - read up on how stock grants work. They are gifts - and when you get them, they count as income.

I recently had a grant for 5000 stock shares vest. The day before they vested, they had no value to me - an unvested grant is not an investment, it's not a capital gain issue - it was just a promise from my company that if I'm still an employee on 14 March that they will *give* me 5000 shares.

My grant was set up so that on 15 March, 42% of the shares (about 2100) were immediately sold, and the proceeds sent to the state and federal government similar to normal withholding taxes. The remaining 2900 were deposited in my brokerage account.

When 15 April 2011 comes along, I'll hope that the withholding covers the tax liability and I'll get a small refund.

For "capital gains" purposes - my basis for the 2900 shares is the price on 15 March, if they go up or down in the future my short term or long term capital gains will reflect the difference between the 15 March price and the actual sale price.
__________

Note also, that these people did not decide a few days ago to sell their stock when it vested. For senior execs (who obviously have a *lot* of insider information) to sell, they need to tell the SEC months in advance that they will sell X shares on Y date. It's just coincidence that "Y date" was a nice high for Apple stock.
 
You guys suck,

Your given a huge bonus and now cashing in on all that stock... And you guys can't find or buy technology fast enough to get the iPad or MBP out like the rest of the world is doing. Everyone else has the Core i3, i5, i7 but Apple is playing a big game with getting huge numbers on the iPad...

I'm bitter because I'm in the wrong business.... Or I'm bitter because I love the Apple products and I know I am paying a premium to guys that make way to much money!!!
 
swingerofbirch said:
I'm not saying they're not valuable, but it isn't proportionate to the work they've done--the amount of money they've realized is proportionate to the amount of speculation the public has in Apple as a company. Apple has a very high P/E ratio, and as we've seen speculation is not always well-founded. I'm not saying it isn't in this case (although I wouldn't buy the stock at this price), but this isn't like we're talking a one to one correlation of performance to pay.
Click to expand...


A very high P/E? And touching yourself makes you go blind?. AAPL has @ a 22 ttm, under 20 forward PE, and probably around 15 if you strip away the $40B cash. It's still cheap.
 
Apple!Fre@k said:
He doesn't. He pays more.

Don't you love the fact that the government punishes those who provide the most value to the country and makes more money as a result?
Click to expand...


Apparently you're unaware that Warren Buffet thinks it's ridiculous that in the end his secretary pays a higher overall rate of tax than he does. He believes, and statistics bear it out, that the wealthy in the U.S. benefit disproportionately and should be paying more. You're just another example of someone who knows the least screaming the loudest.
 
mdatwood said:
Some could view the selling as a negative for Apple. The "insiders" are selling and that could mean in their view the stock is done running. The top execs know all the numbers and see know the company outlook better than anyone. Just something else to think about.
Click to expand...


Not really. About half was sold under a prearranged selling plan. And they have a LOT more restricted shares that vest annually. What fun is making all that $$$$ if you don't get to spend/enjoy it? Unless you lust after some really big ticket items or small countries, there's not much point in delaying gratification.
 
MacFly123 said:
Also income tax has never been put through proper channels of legislation, it was merely made ILLEGAL NOT TO PAY which according to the constitution, legislation cannot be imposed upon us in that manner! It must be APPROVED proactively, not simply imposed and then made illegal if you don't comply. :rolleyes:

Anyway...
Click to expand...


Thanks for identifying yourself as one of those. Now no one has to bother reading anything you post since probably equally silly.
 
MacFly123 said:
Ya, that is EXACTLY what I am suggesting! :rolleyes: Something like a flat tax would be MORE than sufficient and the government needs to cut spending drastically! Long story short, I know we need a military etc. but the whole system needs to be reformed!
Click to expand...

Just need to get rid of income tax and replace it with a higher sales tax / property tax. :cool:
 
mccldwll said:
Apparently you're unaware that Warren Buffet thinks it's ridiculous that in the end his secretary pays a higher overall rate of tax than he does. He believes, and statistics bear it out, that the wealthy in the U.S. benefit disproportionately and should be paying more. You're just another example of someone who knows the least screaming the loudest.
Click to expand...

Really? Show me proof that Warren Buffet thinks taxes should be raised for the rich.
 
Apple!Fre@k said:
Really? Show me proof that Warren Buffet thinks taxes should be raised for the rich.
Click to expand...

Not only is this common knowledge among progressives, but even the most dense conservative could have spent five seconds digging this up on their own with Google. I guess because Apple doesn't run their own search engine you'd never come across it though.

Warren Buffet: "I think higher earning people in this country should be taxed more. I don't think our tax system is very equitable and I think it's drifted dramatically during the last ten years toward favoring rich guys like me. I pay a lower tax rate on much of my income than my cleaning lady does. I think that's crazy."

I know it's probably shocking to you that a rich American might not be outraged at paying higher taxes but there you go.

TwelfthAG said:
Just need to get rid of income tax and replace it with a higher sales tax / property tax. :cool:
Click to expand...
Sales taxes are flat taxes as-is, and they disproportionately punish the poor just like every other flat tax. If you're making $3,000,000 per year and the government wants half of that how much would your life actually change? Probably not all that much. But if you only made $30,000 and the government wanted $15,000 that would severely change your standard of living. Not that I think you'd care what happens to anyone below your income bracket.
 
daxomni said:
Sales taxes are flat taxes as-is, and they disproportionately punish the poor just like every other flat tax. If you're making $3,000,000 per year and the government wants half of that how much would your life actually change? Probably not all that much. But if you only made $30,000 and the government wanted $15,000 that would severely change your standard of living. Not that I think you'd care what happens to anyone below your income bracket.
Click to expand...

Ah, but the example you just gave was a 50% income tax. The excellent thing about a sales tax is that the wealthy will contribute more simply because they have more discretional spending. Many states wisely charge no sales tax on necessities like food and clothing, which helps everyone roughly equally, but it really benefits those who have a high non-discretional-spend to discretional-spend ratio (namely, the poor). Suddenly, we're looking at a progressive-esque, sales tax that everyone can agree on... except the elitist politicians who want to protect their wealth and power, of course.

-Clive
 
Clive At Five said:
Ah, but the example you just gave was a 50% income tax. The excellent thing about a sales tax is that the wealthy will contribute more simply because they have more discretional spending.
Click to expand...
Pick any percentage you want, it doesn't change the fact that it will impact the living standards of poorer consumers far more negatively than wealthy consumers. Poor people are already disproportionately penalized by several flat taxes that are already on the books even as we try to find ways to convert every tax into yet another regressive flat tax. Removing sales taxes from food* and clothing sounds great but in reality it can't come close to addressing the inherent disparity.

Clive At Five said:
Suddenly, we're looking at a progressive-esque, sales tax that everyone can agree on... except the elitist politicians who want to protect their wealth and power, of course.
Click to expand...
A progressive flat tax eh? What will they think of next...

*(often including candy and junk food of course)
 
daxomni said:
Pick any percentage you want, it doesn't change the fact that it will impact the living standards of poorer consumers far more negatively than wealthy consumers. Poor people are already disproportionately penalized by several flat taxes that are already on the books even as we try to find ways to convert every tax into yet another regressive flat tax. Removing sales taxes from food* and clothing sounds great but in reality it can't come close to addressing the inherent disparity.


A progressive flat tax eh? What will they think of next...

*(often including candy and junk food of course)
Click to expand...

Are you aware of the difference between an INCOME tax and a SALES tax? Sales taxes have progressive qualities because the poor will pay proportionally less, without intentionally targeting one economic class. The progressive effects are especially noticeable if we would ignore sales taxes on the essentials I mentioned before.

One cannot underestimate, however, the importance of everyone paying *something* lest we become a polarized nation of producers and parasites. The parasites will vote for bread and circuses, paid-for by the greedy rich, and the producers will use their power to circumvent tax law to protect their wealth... Welcome to 2010.

-Clive
 
For those of you thinking the sky is falling and the stocks gonna drop because they have no confidence in their company...

You are so wrong.

Their window to sell probably just opened it up. Due to the SEC watching for insider trading, companies have "windows" where employees can trade their own companies stock.

When it comes to the officers and the board members, that window can be shorter and even more spaced apart than regular employees because they generally know a lot more information into what the company is doing.
 
Little Endian said:
yikes!! this really makes me doubt that AAPL will break the $300-400 point within the next 2-4 years. I guess the ipad is as good as it gets in the foreseeable future, or this shows how much faith they have in the stock market. hmm..... should I sell or should I hold? Albeit its important to put this hype into perspective as 1 million shares or $230 million of AAPL stock being dumped is about 1/100th of Apple's market cap. If I were Schiller or Cook I would probably sell as it's hard to resist a $35-70 million dollar pay day. (From their perspective) meh.. who cares if the stock doubles or triples or drops in like amounts as they will still be multi millionaires with a fair enough chance of joining the billionaire club.:rolleyes:
Click to expand...

Only Fanbois or people who own AAPL stock would care about $300-$400 stock price. Are you either?
 
ArrowSmith said:
Only Fanbois or people who own AAPL stock would care about $300-$400 stock price. Are you either?
Click to expand...

I am both... but more leaning toward the fact that I am only 28 and a self made millionaire. Apple is just one of the Stock that I own, and a champion at that.

Yes when I say millionaire, I mean actual gains and net worth. It is also important to note that my Dad was a drug addict and my Mom was a welfare recipient when I was growing up.

If you can prove that you have excelled more without any transformative assets assisting you, then I would love to meet you. Yes my friend I would actually fly up to wherever you live, or buy you a ticket for you to come here to Hawaii.

So really... do you want to meet me? Only if you can prove that the spirit of "Horatio Alger" is still alive. By that I mean that you grew up in piss poor poverty and have reached a level of financial stability solely through your own means, without any help from mommy, daddy or government assistance. Or.... if you were born with a silver spoon in your mouth, I expect you to be at least 100 fold wealthier than your parents and at the same time being able to prove that you offer practical and realistic upward mobility to the people that may be under your employ or within your organization.

Sorry if I sound like an egotistical overbearing prick. But hey the offer stands. By proof I expect to see Credit checks, Bank account balances, Investment assets, and proof of payment from your own self made funds for everything in your life (education, housing expenses, etc) Sorry but such a small minded myopic comment deserves the same.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back