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John Browett Officially Joins Apple as Retail Chief, Receives Stock Rights Worth $60 Million
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This is America still correct, we still strive to become rich and prosperous? If you want to become rich and have everything he has work hard and maybe one day you to can realize the same dream. Why do people these days like to $**** on people when they make it today.
It's good to see you can get rich by being a mere wage slave (instead of running a company yourself). But it looks to becoming a pyramid bonus system. I'd much rather see the pyramid flatten and get the lower levels involved (where usually the hard work is at).
So you think this guy just came out of nowhere to land a sweet job at Apple and got offered 60mil in Stock because they heard he was a hard worker. I am sure he started at the bottom somewhere in life and has worked his way up through ways I am not sure of but I highly doubt the job fell into his lap...
If you are putting in the same amount of hard work , dedication and passion to propell the company forward, people should take note and the bonus balans system should be more or less equalized. It will always be skewed. Yes, I'd give high bonuses to cleaning people too if they do a good job.
I heard he was hired after Apple saw the way he turned around the fortunes of Dixons in Norwich following the pedestrianisation of the city centre...
I still think that any kind of VP/executive/CxO at a PUBLIC company does not deserve more than mill or 2 a year. All those tens or even HUNDREDS of MILLIONS of dollars should be saved for the company and/or its stock price (after all, there is a ratio between money spent at a company and money brought in...why spend millions more if you don't have to?).
My reasoning is because it's a company those folks did not start up (99% of the time) and actually have any true, real-world stake. Why are they earning gobloads of cash for something they simply manage? Private company? Sure...it's very likely the owner(s) who run the company and take all the risk. Public company execs simply parachute out of the company with golden packages (that they negotiated before hiring). Stock dipped 20% while they were in charge? They don't care...they get fired and keep their $10million+ and move on. And the company can't publicly state why they fired the exec out of fear of a massive lawsuit.
I'm not saying there should be legal caps...and I'm sure I will get a billion replies here stating something to the effect: "well, the companies need to pay top dollar for top performers". Bulls***. We can all sit here and list 50 companies in 10 minutes that have had numerous executives who have earned tons of cash and ruined the company or severely negatively impacted its value.
John does NOT deserve $50 mill. He doesn't deserve $10 mill. Especially as Chief Retail Officer. CIOs and CTOs and CFOs don't even earn $5mill a year at other public companies!
Apple has the bankroll now...but that shouldn't be an excuse for excessive compensation. Especially for a position/department that seems to be doing pretty darn well (what does Apple see so wrong with Apple Retail that it justifies this cash for a new guy?). I'm not a "we hate the 1%ers!!!!" either.
My reasoning is because it's a company those folks did not start up (99% of the time) and actually have any true, real-world stake. Why are they earning gobloads of cash for something they simply manage? Private company? Sure...it's very likely the owner(s) who run the company and take all the risk. Public company execs simply parachute out of the company with golden packages (that they negotiated before hiring). Stock dipped 20% while they were in charge? They don't care...they get fired and keep their $10million+ and move on. And the company can't publicly state why they fired the exec out of fear of a massive lawsuit.
I'm not saying there should be legal caps...and I'm sure I will get a billion replies here stating something to the effect: "well, the companies need to pay top dollar for top performers". Bulls***. We can all sit here and list 50 companies in 10 minutes that have had numerous executives who have earned tons of cash and ruined the company or severely negatively impacted its value.
John does NOT deserve $50 mill. He doesn't deserve $10 mill. Especially as Chief Retail Officer. CIOs and CTOs and CFOs don't even earn $5mill a year at other public companies!
Apple has the bankroll now...but that shouldn't be an excuse for excessive compensation. Especially for a position/department that seems to be doing pretty darn well (what does Apple see so wrong with Apple Retail that it justifies this cash for a new guy?). I'm not a "we hate the 1%ers!!!!" either.
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This approach might have value if your on a decision is choosing to go on a blind date or thinking about opting for a naff sandwich at a service station on a long motorway run when your hungry. For this cost he should be hitting the ground running and bringing huge value in areas Apple see their business plans going.
If he drove proffit with the worst computers, he may bring some good ideas that force Apple out of their day dream approach of developing to the lowest common denomitor. Maybe Apple are looking to hit retail stores in masses if they feel their brand can sell outside the showroom branded Apple stores, but will they keep the same brand appeal?
You make it sound like the world is full of people trying to take advantage of the social misfits with low self value. Surly every CEO is walking around his office thinking, should I buy that new Jaguar or give the dude over their with the mop my 200k.
Brrrrrooooom broooooooom. What dude with the mop???
Give him 6 months with his millions and he will have a fake tan and over bleached plastic teeth like every normal American!
If you look at the statistics, British dental hygiene records are superior to the US on average.
Though I have also noticed Jonny Ive isn't smiling in his photo. We arn't a happy bunch
Tim and the rest of the Apple board aren't stupid. The guy obviously has talents that will be an asset to Apple.
The problem for us Brits though is that these talents aren't publicly visible. Dixons/Currys/PC World are to Apple Retail Stores what Wal-Mart is to Bloomingdales.
I bet the reaction from Americans would be the same if the WSJ or NYT announced that their next Editor was the Editor of the National Inquirer!
The problem for us Brits though is that these talents aren't publicly visible. Dixons/Currys/PC World are to Apple Retail Stores what Wal-Mart is to Bloomingdales.
I bet the reaction from Americans would be the same if the WSJ or NYT announced that their next Editor was the Editor of the National Inquirer!
Hahah yes, I Have yet to see a company where the toilets are crystal clear clean all year through. Hell yeah i'd give that guy 200k if he'd exist!
You've got to take the scale of Apple compared to other companies in to account though. Probably the top 10 executives at Apple have responsibility far in excess of that of the CEO's at 95% of the world's other top 100 companies.
Screwing up isn't an option for executives at Apple either. I'd imagine there are some pretty steep targets in retail and if they aren't met he'll be out the door.
The only thing I don't get is why they need so much money. There is a limit to the amount of money you need to actually make a difference to your life. Once you've got more than that why sit on it when you could be making a major difference with it elsewhere. Maybe charitable donations or bonuses for your employees.
I understand that there's not much confidence in this guy, but I do have some confidence in Apple choosing who they feel is the best person for the job. If they think it's Browett then there must be a reason. I'm sure the public (especially those in the UK) will be scrutinizing everything he does, and I suppose that's fair considering his track record. I still think he at least deserves a chance, though. Give him some time and see what he does. I can't imagine that Apple will keep him around for long if he starts things heading in the wrong direction.
I hope Apple is compensating their other Brit Exec this well. Since Ive is not a company officer information about his pay/stock options isn't made public.
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Jony Ive actually has decent teeth. But he's been living in the USA for the past 20 years so maybe that's why.If you look at the statistics, British dental hygiene records are superior to the US on average.
Though I have also noticed Jonny Ive isn't smiling in his photo. We arn't a happy bunch
If I am Joe average do I get a bonus package right away even before I start a job, hell no, first I have to prove myself on a lower wage if I started a new job, hell I get fired or don't get a permanent contract.
This whole bonus system is just ridiculous and leads to greed, and economic despair, just look at the last few years and those huge bonuses in the banking sector.
The guy needs to prove himself first for a couple of years, like 4-5 years and only then He should be able to get a bonus dependable on his performance.
I really don't get it that shareholders agree with such contracts, there are many of them here on this forum, do you agree that he already gets 3 million just after 6 months on top of his wage and 6 months later another 9 million?
This whole bonus system is just ridiculous and leads to greed, and economic despair, just look at the last few years and those huge bonuses in the banking sector.
The guy needs to prove himself first for a couple of years, like 4-5 years and only then He should be able to get a bonus dependable on his performance.
I really don't get it that shareholders agree with such contracts, there are many of them here on this forum, do you agree that he already gets 3 million just after 6 months on top of his wage and 6 months later another 9 million?
Would you let your teenage daughter hang out with the tramps and gang members under the bridge near the local park, just to experiment if it will work, or give it ago just to see what happens?
Oh she's pregnant with a farther less child. Oops...
Ok let's maybe not do that again, but what about those dudes that hang around the parking lot at the cheap naff electrical Dixans shop every night, could they be really nice people....