Apple SVP of Technologies Bob Mansfield Cashes in Over $20 Million in Stock [PRSI]

[WestonHarvey1]

Don't even get me started on Conservatives...

No one on this forum is in the top 2%. You're all living off a patently false promise of "wealth" and "riches" so long as you work hard. Garbage.

And that's how they keep you hooked.

"One day YOU will be this rich and you don't want Uncle Sam taxing you do ya?"

^ No... in fact... you won't be that rich.

And if you are... you pay back into the system that got you there.

Period.

I feel plenty rich and I'm not in the top 2%. I don't need to have billions of dollars to feel like I'm financially successful. I just need to have enough for a life that satisfies me and more left over than I spend every month.

I'm sorry that you can't be happy as long as others have more than you do. It must be really sad and frustrating to be so envious.

 

[AlanFord]

I came from a pretty socialist country, so never understood americans in their capitalism.
Probably never will

So yes, I am for that if someone have more, to contribute more. Dont see my nation as my self. If I can contribute that from my higher taxes more schools can be build, more health centre, better infrastructure, and better administration we can all have benefit.
Dont have nothing against capitalism though, just 50 years back differences were 30-40 times, now they are 300-400 times. And more and more people live worse.
Contribution of welth is held 80% in the hands of 20% people, and 80% people have 20% of welth.

Think you have a great nation, years back it was really a land of oportunity, now its just ruined by greed and no one gives a ***** about other. Could be wrong, just my point of view from outside.

 

[tgara]

http://en.wikipedia.org/wiki/Clintonomics

History and facts are fun!

This is mostly accurate, but Clinton didn't have much to do with it. It was the election of Newt Gingrich et al. in the House in 1994 who were the real drivers of the policies that led to the economic boom in the 1990s. Nonetheless, Clinton does deserve credit for going along with them and not screwing it up. I wish we had more of this type of thing today. I'm no big fan of Der Schlickmeister, but I'd love to go back to that era when we had 4.2% unemployment, balanced budgets, and people moving from welfare to work. The current occupant of the WH doesn't understand this.

 

[tgara]

I came from a pretty socialist country, so never understood americans in their capitalism.
Probably never will

So yes, I am for that if someone have more, to contribute more. Dont see my nation as my self. If I can contribute that from my higher taxes more schools can be build, more health centre, better infrastructure, and better administration we can all have benefit.
Dont have nothing against capitalism though, just 50 years back differences were 30-40 times, now they are 300-400 times. And more and more people live worse.
Contribution of welth is held 80% in the hands of 20% people, and 80% people have 20% of welth.

Think you have a great nation, years back it was really a land of oportunity, now its just ruined by greed and no one gives a ***** about other. Could be wrong, just my point of view from outside.

The difference here is that America was founded on the principles of individual liberty, personal property rights, and limited governmental powers. This is commonly called American Exceptionalism, not because America is better than other countries, but that we are the Exception to the historically common forms of government such as socialism, communism, dictatorships, etc. We've lost a lot of that over the years.

Also, there is a big difference between voluntarily "contributing more" of your personal property (labor or wealth) and having it taken from you by the government under color of law. I constantly tell people that if they want to pay more in taxes, the Treasury has a program that they can contribute to.

 

[Ironduke]

I came from a pretty socialist country, so never understood americans in their capitalism.
Probably never will

So yes, I am for that if someone have more, to contribute more. Dont see my nation as my self. If I can contribute that from my higher taxes more schools can be build, more health centre, better infrastructure, and better administration we can all have benefit.
Dont have nothing against capitalism though, just 50 years back differences were 30-40 times, now they are 300-400 times. And more and more people live worse.
Contribution of welth is held 80% in the hands of 20% people, and 80% people have 20% of welth.

Think you have a great nation, years back it was really a land of oportunity, now its just ruined by greed and no one gives a ***** about other. Could be wrong, just my point of view from outside.

americans are afraid of socialism because they think it leads to communism

the irony is their Declaration is very socialist

 

[AlanFord]

The difference here is that America was founded on the principles of individual liberty, personal property rights, and limited governmental powers. This is commonly called American Exceptionalism, not because America is better than other countries, but that we are the Exception to the historically common forms of government such as socialism, communism, dictatorships, etc. We've lost a lot of that over the years.

Also, there is a big difference between voluntarily "contributing more" of your personal property (labor or wealth) and having it taken from you by the government under color of law. I constantly tell people that if they want to pay more in taxes, the Treasury has a program that they can contribute to.

Yes, we are different, and in that way dont have anything against it. We all have some kind of different historical heritage.

And here goverment raise taxes, and are pretty much high, and takes it under color of law, but in exchange of that I have cheap health care, finished faculty for free, ect ect.
So in that point I meant yes, I dont have nothing against it if that goes for example free education or good purpose.

 

[AlanFord]

americans are afraid of socialism because they think it leads to communism

the irony is their Declaration is very socialist

Could be, but communism is something different.

They dont have to be afraid

 

[MacRumors]

Apple Senior Vice President of Technologies Bob Mansfield has decided to sell off a set of stock for over $20 million, according to a regulatory filing. Mansfield sold off 35,000 shares of his Apple stock at a price of $582.21 per share.

The move comes nine months after Mansfield sold 30,000 shares of stock for a gain of $12.5 million in early February, with Apple shares netting an average of $452.28 at the time. Since then, Mansfield has retired, taken an advisory role, and then recently un-retired to take charge of a new "Technologies" group in an executive reshuffling that saw iOS chief Scott Forstall ousted.

Mansfield's stock sale does not mean that he is looking to exit his ownership in Apple, as he has regularly cashed in on stock options and is an active participant in Apple's stock option and grant award programs for senior executives. Mansfield still has 29,548 shares of Apple stock and stands to gain an additional 150,000 shares in two equal portions June 2013 and March 2016. He also holds a restricted stock grant that could earn him another 100,000 shares in 2014. All of those shares, which would net him $145.5 million at current stock prices, would only be awarded to him if he remained with Apple.

Mansfield and other executives may also be looking to unload stock as 2012 draws to a close due to a scheduled increase in capital gains taxes for 2013. By selling stock now rather than holding it into 2013, sellers can reduce their tax burden, although fluctuations in the company's stock price over time could more than compensate for the higher tax rate should Apple's stock continue to rise.

Article Link: Apple SVP of Technologies Bob Mansfield Cashes in Over $20 Million in Stock

 

[OllyW]

Moderator Note

PRSI content split from the Mac Blog Discussion.

Please try to keep the politics in this forum.

Thanks.

 

[winston1236]

Bob knows that Apple will fall.

More likely his people advised him to because of the looming obama taxes on stock related income

 

[ed724]

It makes me more sick that people reduce the economic situation we are in down to a Fox News talking point.

It makes me more sick that people reduce the economic situation we are in down to a MSNBC talking point !!!!!!!!!

 

[JayJayAbels]

Actually, someone making $40,000 is in the top 1.1% of the world's population.

http://www.givingwhatwecan.org/why-give/how-rich-am-i

PS How long before this gets added to the "Politics" forum?

You've misrepresented my point. Hopefully that wasn't on purpose.
I was speaking of the top 2% of annual income earners specifically in the United States.

Comparing the earnings of a typical American to any 3rd world country is, obviously, ridiculous.

The point I was making is that the Right Wing ultimately represents the wealthiest Americans. For them to get the votes they need they MUST convince average Americans that they too... will one day... be among the wealthiest. Sounds good on paper until they've spent a lifetime voting against their best interests only to find out that they'll never be as successful as the Conservative propaganda machine would have had them believe.

1. The more money you have... the better your chances of being successful. There IS a snowball effect.
2. The more money there is... the better quality of life you'll have.
There IS a quality of life standard that the top 2% will never have to worry about.
3. The more money you've grown up with... the better educated you will be. There IS a direct correlation between income and education.

Better education. Better jobs. More money to invest. Higher standard of living. Better healthcare. Better traveled. Better accountants.

Any success you have in America is due, in part, to the system that's already been put in place. Paying higher taxes is absolutely fair in this type of Capitalistic system.

----------

I feel plenty rich and I'm not in the top 2%. I don't need to have billions of dollars to feel like I'm financially successful. I just need to have enough for a life that satisfies me and more left over than I spend every month.

I'm sorry that you can't be happy as long as others have more than you do. It must be really sad and frustrating to be so envious.

Not envious.

Just sick of people voting against their own best wishes as the vote they cast ultimately affects their own families.

I'm a registered Independent with liberal leanings... especially socially.

If people can't see through the Right Wing's agenda by now... may Darwin help them.

 

[LethalWolfe]

I actually wish stock options were used more as extensively as executive compensation. If they company is run well the options are worth more. If the company is run poorly the options are worth less.

 

[iMikeT]

Except American history, basic economics, and basic human nature -- all the things that our well-intentioned Liberal friends either have forgotten or never knew in the first place.

Mansfield is doing what many wealthy people have been doing since the election -- moving assets around now to avoid higher tax liabilities next year. The odds are that taxes will be going up next year, at least for Mansfield, unless Congress and the President kick the can down the road for another year or two. From an asset management point of view, selling portions of his stock now makes perfect sense, rather than have it subject to higher taxes next year.

What baffles me is why Apple (or anyone else for that matter) remains in California. According to the WSJ, it's the worst run state in the country.

Thinkstock> Debt per capita: $4,008 (18th highest)
> Budget deficit: 20.7% (17th largest)
> Unemployment: 11.7% (2nd highest)
> Median household income: $57,287 (10th highest)
> Pct. below poverty line: 16.6% (18th highest)

California is 24/7 Wall St.’s “Worst Run State” for the second year in a row. Due to high levels of debt, the state’s S&P credit rating is the worst of all states, while its Moody’s credit rating is the second-worst. Much of California’s fiscal woes involve the economic downturn. Home prices plunged by 33.6% between 2006 and 2011, worse than all states except for three. The state’s foreclosure rate and unemployment rate were the third- and second-highest in the country, respectively. But efforts to get finances on track are moving forward. State voters passed a ballot initiative to raise sales taxes as well as income taxes for people who make at least $250,000 a year. While median income is the 10th-highest in the country, the state also has one of the highest tax burdens on income. According to the Tax Foundation, the state also has the third-worst business tax climate in the country.

http://finance.yahoo.com/news/the-best-and-worst-run-states-in-america-150415625.html

The California Dream is dead. The liberals killed it.

I highly and respectfully disagree with your assessment about the decline in California.

Taxes are what makes a society function properly. Look at the nations where taxes are highest, for example, Denmark, Sweden, and Netherlands. These countries have the happiest people and highest standards of living in the world. Even with high taxes, the citizens of these countries continue to live there.

It was Republican administrations and legislatures that screwed my home state of California a few decades ago. The reason why California is in the toilet is due to these CONSERVATIVES who decided to enact a 2/3 majority to even raise taxes. Because there was no active revenue coming into the state, the state has been cash strapped and severely limited in it's ability to function properly. Because taxes have been so low to begin with, right-wing crazies typically cry fowl when even the slightest increase in tax rates are needed.

If I were you, I would turn off the noise you get from Faux Noise or any Rupert Murdock-owned network.

 

[MacDav]

Except American history, basic economics, and basic human nature -- all the things that our well-intentioned Liberal friends either have forgotten or never knew in the first place.

Mansfield is doing what many wealthy people have been doing since the election -- moving assets around now to avoid higher tax liabilities next year. The odds are that taxes will be going up next year, at least for Mansfield, unless Congress and the President kick the can down the road for another year or two. From an asset management point of view, selling portions of his stock now makes perfect sense, rather than have it subject to higher taxes next year.

What baffles me is why Apple (or anyone else for that matter) remains in California. According to the WSJ, it's the worst run state in the country.

Thinkstock> Debt per capita: $4,008 (18th highest)
> Budget deficit: 20.7% (17th largest)
> Unemployment: 11.7% (2nd highest)
> Median household income: $57,287 (10th highest)
> Pct. below poverty line: 16.6% (18th highest)

California is 24/7 Wall St.’s “Worst Run State” for the second year in a row. Due to high levels of debt, the state’s S&P credit rating is the worst of all states, while its Moody’s credit rating is the second-worst. Much of California’s fiscal woes involve the economic downturn. Home prices plunged by 33.6% between 2006 and 2011, worse than all states except for three. The state’s foreclosure rate and unemployment rate were the third- and second-highest in the country, respectively. But efforts to get finances on track are moving forward. State voters passed a ballot initiative to raise sales taxes as well as income taxes for people who make at least $250,000 a year. While median income is the 10th-highest in the country, the state also has one of the highest tax burdens on income. According to the Tax Foundation, the state also has the third-worst business tax climate in the country.

http://finance.yahoo.com/news/the-best-and-worst-run-states-in-america-150415625.html

The California Dream is dead. The liberals killed it.

Tell me about it...I live here. Maybe not much longer though. It isn't known as "La La Land" for nothing. When the voters approved Jerry Browns new tax hike I thought okay, everyone really is on drugs.The government unions and their pensions are sucking the state dry. Great weather, but that's about all that's left now.

----------

I actually wish stock options were used more as extensively as executive compensation. If they company is run well the options are worth more. If the company is run poorly the options are worth less.

Yeah, but you're being far too logical. Nobody will ever go for it.

 

[LethalWolfe]

Tell me about it...I live here. Maybe not much longer though. It isn't known as "La La Land" for nothing. When the voters approved Jerry Browns new tax hike I thought okay, everyone really is on drugs.The government unions and their pensions are sucking the state dry. Great weather, but that's about all that's left now.

The proposition system is sucking the state dry and it started doing so in the '70's. If anyone wants to see how a direct democracy can screw things up please come look at CA.

 

[MacDav]

Could be, but communism is something different.

They dont have to be afraid

Famous last words.

 

[Eraserhead]

Famous last words.

Communism really has failed.

 

[MacDav]

The proposition system is sucking the state dry and it started doing so in the '70's. If anyone wants to see how a direct democracy can screw things up please come look at CA.

Propositions are won with clever marketing ploys and huge ad budgets. The problem as always is the vast majority of voters have no clue (ignorance) and are easily swayed. So yes, having people who know whats going on, represent those who don't, can be a good thing, but only if they actually do what's in the peoples best interest. That is the catch. There is no perfect system, because humans are always involved in the process.

 

[Eraserhead]

Propositions are won with clever marketing ploys and huge ad budgets. The problem as always is the vast majority of voters have no clue (ignorance) and are easily swayed. So yes, having people who know whats going on, represent those who don't, can be a good thing, but only if they actually do what's in the peoples best interest. That is the catch. There is no perfect system, because humans are always involved in the process.

The Swiss pull off proposition based government...

 

[LethalWolfe]

Propositions are won with clever marketing ploys and huge ad budgets. The problem as always is the vast majority of voters have no clue (ignorance) and are easily swayed. So yes, having people who know whats going on, represent those who don't, can be a good thing, but only if they actually do what's in the peoples best interest. That is the catch. There is no perfect system, because humans are always involved in the process.

Agreed that humans are the weak link in every great philosophy about how society should work.

 

[MacDav]

Communism really has failed.

Correct..Why is it then, that so many people still want to go as far as they can in that direction? They want to be taken care of, and not have to think for themselves too much. In other words they are children and spoiled children at that.

 

[MacDav]

The Swiss pull off proposition based government...

I'm not very familiar with the Swiss. I'm not sure what you mean when you say they "pull it off". Would you say the Swiss populace is more involved in daily government? Are they a homogeneous group or do they have many minority factions who pull in many different directions? There are always reasons why something works in one place and not another.

----------

In case no one noticed, the CA tax increase that was just voted into law is retroactive to the beginning of 2012

Yeah, they tried to have be retroactive back to 2002 but turns out it's illegal.
(yes, I am joking)

 

[iMikeT]

To all you highly misguided people who say you want to leave California, good, leave. Qe don't need you here and the rest of us can finally move forward with progress without you in the way. Go live in podunk places like Mississippi, Kansas, Alabama or some other red state it's still the 1800's. That's where you truly belong.

----------

You've misrepresented my point. Hopefully that wasn't on purpose.
I was speaking of the top 2% of annual income earners specifically in the United States.

Comparing the earnings of a typical American to any 3rd world country is, obviously, ridiculous.

The point I was making is that the Right Wing ultimately represents the wealthiest Americans. For them to get the votes they need they MUST convince average Americans that they too... will one day... be among the wealthiest. Sounds good on paper until they've spent a lifetime voting against their best interests only to find out that they'll never be as successful as the Conservative propaganda machine would have had them believe.

1. The more money you have... the better your chances of being successful. There IS a snowball effect.
2. The more money there is... the better quality of life you'll have.
There IS a quality of life standard that the top 2% will never have to worry about.
3. The more money you've grown up with... the better educated you will be. There IS a direct correlation between income and education.

Better education. Better jobs. More money to invest. Higher standard of living. Better healthcare. Better traveled. Better accountants.

Any success you have in America is due, in part, to the system that's already been put in place. Paying higher taxes is absolutely fair in this type of Capitalistic system.

----------



Not envious.

Just sick of people voting against their own best wishes as the vote they cast ultimately affects their own families.

I'm a registered Independent with liberal leanings... especially socially.

If people can't see through the Right Wing's agenda by now... may Darwin help them.

Agreed 100%. I'm registered as an independent as well and vote for those who have the most progressive agendas regardless or party.

I was highly skeptical about those studies that find people in general are getting stupider but I'm starting to believe it considering that people will freely vote against their own best interests because the crazy neo-con, right-wing, useful idiot libertarians yell to the top of their lungs and spread their hate on the TV.

Indeed, may Darwin help them all.

 

[NickZac]

There is no sound logic behind conservative viewpoints.

+1 for tolerance!!!