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Shareholders Advisory Group Doesn't Want Tim Cook to Get $99 Million Pay Package

MacRumors said:
According to ISS, Cook's 2021 compensation "significantly exceeded" that provided by comparable companies last year.
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ISS has mentioned comparable companies. Which companies are they comparing Apple to I wonder?

Microsoft is #2
Saudi Aramco is # 3
Alphabet Inc. is #4
Amazon Inc. is #5
Tesla is #6
Meta Platforms Inc (Facebook) is #7
Berkshire Hathaway Inc. is #8
Tencent is #9
Visa Inc. is #10

Think there are any worse examples out there?
 
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Good. Nobody on this earth needs or deserves a $99 million pay package.

It’s entirely obscene and so is the fact people are defending it. Have people really lost touch with reality that badly?

Maybe give him $1 million which will allow him to live extremely comfortably for the year and spend the other $98 million improving salaries for the lowest paid employees. There’s a novel thought.
 
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Don’t things like this happen every year and they’re always voted down? Wasn’t there one year where a shareholder complained about Apple’s focus on the environment or something and Tim Cook snapped that when he’s thinking about those things he’s not thinking about the bloody ROI?
 
I don't see why I would object to this payment to Mr. Cook. His leadership brought the company pass $1T, then $2T and even with recent significant stock market drops, still approaching $3T.

>> According to ISS, Cook's 2021 compensation "significantly exceeded" that provided by comparable companies last year.
They should also mention that Apple single handedly exceeds the rest of the World becoming #1 company in terms of market cap.

Awarding its supreme leader $99M for the year, in my opinion, is worth every bit of it.
 
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tgwaste said:
You need to get a calculator.

For example: if the CEO for Walmart worked for FREE and you divided his salary up to all the employees they would all make like an extra $200 a year. Congratulations, you've changed their lives!
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never said Tim's $99M should be divided equally amongst all workers, so thanks for putting words in my mouth?

also, in your out of left field analogy - let's assume the Walmart CEO worked for free in order to give all employees a $200 bonus check. I can guarantee this - the vast majority of each $200 would immediately enter the economy being spent on basic necessities Walmart's poverty waged employees typically can't afford or let taxpayers pay for in the form of food stamps or medicare. a many million dollar economic bump would reap more benefits far beyond giving it to a billionaire who's just gonna stash it or use it for stock buy backs.

so - your example still aptly describes the problem at hand - CEOs make mind boggling money at the expense of the very laborers that do the actual work on the ground to make them ultra rich.
 
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happydude said:
never said Tim's $99M should be divided equally amongst all workers, so thanks for putting words in my mouth?

also, in your out of left field analogy - let's assume the Walmart CEO worked for free in order to give all employees a $200 bonus check. I can guarantee this - the vast majority of each $200 would immediately enter the economy being spent on basic necessities Walmart's poverty waged employees typically can't afford or let taxpayers pay for in the form of food stamps or medicare. a many million dollar economic bump would reap more benefits far beyond giving it to a billionaire who's just gonna stash it or use it for stock buy backs.

so - your example still aptly describes the problem at hand - CEOs make mind boggling money at the expense of the very laborers that do the actual work on the ground to make them ultra rich.
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In apples case the “very laborers” don’t even work for Foxconn and the Genius Bar isn’t the companies stronghold for revenue generation. Generally, people get paid to scale and if one the “very laborers that do the actual work in the ground “ could take apple to $2T I guarantee that person would be pulling in the big bucks.
 
sw1tcher said:
You don't see the CEO vs regular worker pay gap as a problem?

www.epi.org

CEO pay has skyrocketed 1,322% since 1978: CEOs were paid 351 times as much as a typical worker in 2020

What this report finds: Corporate boards running America’s largest public firms are giving top executives outsize compensation packages that have grown much faster than the stock market and the pay of typical workers, college graduates, and even the top 0.1%. In 2020, a CEO at one of the top 350...
www.epi.org www.epi.org

ips-dc.org

How the CEO-Worker Pay Gap Deepens Income and Wealth Inequality

While working families are suffering under the pandemic, corporate boards have bent the rules to protect massive CEO paychecks.
ips-dc.org ips-dc.org
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Of course not. Saying there is a problem is pretty easy to do. Whats your SOLUTION? I already outlined how taking 100% of a ceos salary and dividing it up does absolutely nothing. So please enlighten me on the solution.
People who spout this are typically not hard working and they just want a hand out. "Steal from the rich and give to me".

If you want to be rich. Go get a job that makes you become rich. We pay based on skills and achievements, not emotions.
 
1. Until the 80s there was a rule in Japanese companies : the highest man at the top shall only receive 5x the salary of the lowest man at the bottom. Otherwise the "mutual belonging and the shared spirit" of the company will suffer. in the US it was about 40x, in GER it was about 17x. Now its like that: completely nuts around the globe.

2. My problem with any bonus-payment rule is: there is no penalty fee when things don't go well. The only penalty is: the bonus is a little lower (but still there is a bonus) - and x% of the people at the bottom will be dismissed.
The job description of a CEO is: to make the company successful. Why is there a BONUS if you just work according to your job description?

3. Imagine how many good products and services apple could invent and design with all that money. They could even stop ripping of small developers who contribute good stuff to the app-store. Or they could listen to their own fanbase and add ports to Macs when everybody needs them (not 10 years later). Or they could add a "true" OS to ipad Pros, to make them "Pro" in terms of usability (they are not, they are just priced and named like Pro). Or different user accounts for iPads, to have your kids AND you be able to share an iPad. Or Or Or ............. All this "crazy stuff" would be possible. Apple could be a company to serve "the crazy ones, the misfits the rebels...." OR it could be an uninspiring margin gripping global corp that offers: a zillion dollar bonus. For a single person. Getting the job because someone at the top died. And just doing the job as described at the job description.
 
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The poorest employees at Apple helping the wealthiest man at Apple to get even more wealthy and yet he does nothing to help his poorest employees. For that I will always despise the man.
 
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benniberlin said:
My problem with any bonus-payment rule is: there is no penalty fee when things don't go well. The only penalty is: the bonus is a little lower
Click to expand...

Yep -- very well said.
It's always skewed towards the top now.
Heads they win, tails we lose

benniberlin said:
Until the 80s there was a rule in Japanese companies : the highest man at the top shall only receive 5x the salary of the lowest man at the bottom. Otherwise the "mutual belonging and the shared spirit" of the company will suffer.
Click to expand...

And it absolutely has killed any sense of shared spirit..
Folks all the way down the chain fighting over scraps
 
happydude said:
never said Tim's $99M should be divided equally amongst all workers, so thanks for putting words in my mouth?

also, in your out of left field analogy - let's assume the Walmart CEO worked for free in order to give all employees a $200 bonus check. I can guarantee this - the vast majority of each $200 would immediately enter the economy being spent on basic necessities Walmart's poverty waged employees typically can't afford or let taxpayers pay for in the form of food stamps or medicare. a many million dollar economic bump would reap more benefits far beyond giving it to a billionaire who's just gonna stash it or use it for stock buy backs.

so - your example still aptly describes the problem at hand - CEOs make mind boggling money at the expense of the very laborers that do the actual work on the ground to make them ultra rich.
Click to expand...
At their expense? So they are victims now? There is another name for people who are forced to work against their will and "Employee" isn't it. Is that what you're getting at here? If the Apple store employees don't like their wage they can quit, learn skills and improve their wage.

So let me make sure I understand here: you want the walmart CEO to work his butt off to get to where he is and they give all the lazy people his money so they can go buy toilet paper?

lol. ok bud.
 
turbineseaplane said:
No opinion other than I wish Tim would retire

I'm ready for a new direction for the company
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Tim Cook era gave us the best iPads ever made, the best iPhones ever made, and now the best Macs ever made. It gave us the best chip team that literally changed the game. In addition to existing products, it gave us new smash hits that changed the entire market: Apple Watch and AirPods. And the rumored AR/VR glasses are coming. It also gave us Apple Music, Apple TV+, etc. With all that, Apple seems to be actually listening to feedback from its users.

So, what is this new direction you're ready for?
 
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laptech said:
The poorest employees at Apple helping the wealthiest man at Apple to get even more wealthy and yet he does nothing to help his poorest employees. For that I will always despise the man.
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Who are the poorest employees? Apple store people make an average of 34K/Year (and even more now). Put two of those in a household and you have a 70K household. Thats extreame wealth compared to most of the rest of the world.


Watch: Now hell bring up China. Before you do: those aren't Apple employees.
 
adamjackson said:
I'm all for a discussion and proposal from interested shareholders who push back on certain things. It's healthy for a publicly traded company to receive that feedback.

Personally, as a shareholder, I am not concerned at all with Mr. Cook's pay.
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The man is dedicating the rest of his life to his job, so he deserves his pay. Compared of what Apple earns, it's a small percentage. So let it be.
 
Bug-Creator said:
Wait isn't that the guy that was pushed out of Apple (for good reasons)?

Or was it the guy that was 5 minutes from crashing with NeXT when he was saved by Apple (and to be fair the other way round too).

Jobs was a lot of things and yeah most of the times he was a good CEO, but GOAT is bar much higher than that.
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We had a pending IPO at NeXT before the merger, and Steve wasn’t the person(s) who initiated the merger.
 
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