Couldn't have said this better. Things have certainly improved.
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Tim Cook Donates Almost $5M Worth of Apple Shares to Charity
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Couldn't have said this better. Things have certainly improved.
Right. No one donates to charity except to dodge paying taxes.
That’s like saying poor people are only poor so they can avoid taxes.
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But you not only know that Jobs donated, you know the charity. He gets full credit from you for the donation to a cause that impresses you AND for being “secretly” humble.
In Tim Cook’s case the charity has not been disclosed.
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[doublepost=1534943919][/doublepost]Do you feel more important now? Do you feel more justified as human being? Does your unjustified criticism of others bring you the kind of personal self fulfillment you seek from life? What have YOU done lately?
[doublepost=1534944127][/doublepost]Kudos, Tim Cook!
DId I say it impresses me? No, I just stated that nobody (here) knows what he did or did not, and it is silly to judge from outside.
"Jobs never addressed his philanthropic endeavors and refused to discuss the subject even with his biographer, Walter Isaacson. But now, his widow, Laurene Powell Jobs, has publicly spoken out about her charitable work. "
"Tim Cook, said that his late boss gave $50million to Stanford hospitals, which went towards building a children's medical center and a new main building."
"Bono, who was friends with Jobs, wrote an op-ed insisting that Jobs' contributions to the fight against AIDS in Africa were 'invaluable,' according toApple Insider. "
So no he was not the one disclosing how much and where, so yes it was secretive as much as possible.
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Apple CEO Tim Cook recently donated 23,215 shares of Apple stock to charity, according to a filing with the U.S. Securities and Exchange Commission released today. At the stock's current closing price of $215.04, Cook's donation is worth close to $5 million.
The SEC filing does not disclose the charity that Cook donated the shares to, as executives are not required to divulge that information.
In the past, Cook has said that he plans to give away all his wealth. In a 2015 Fortune interview, for example, Cook said that he had already begun donating money quietly, but that he had plans to develop a "systematic approach to philanthropy."
Following the charitable donation, Cook continues to own 878,425 shares of Apple stock, worth almost $189 million.
Article Link: Tim Cook Donates Almost $5M Worth of Apple Shares to Charity
Sure would be nice if it were for Fire Victims in California. Highly unlikely though.
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Pretty good idea, but needs to be in the Politics, Religious, Social Forums.
Some info for all the complainers here:
1)Like most "highly compensated employees" (yes, that is a real term...look it up), he is compensated very much via stock.
2)Like many people/families who have very high incomes, Tim chooses to donate to various charities. Our family does the same. We donate to a non-profit school, a college, Cancer research, other medical research, and the Diaper Bank. We also buy about $500 worth of toys at Christmas time and donate to Toys For Tots.
3)Donating stock instead of cash to charities is a tax incentive for the Giver and Recipient. Period. Moreover, why would I want more of my donation being taxed rather than going to the Charity? For example, if I gave $100k in cash it might be taxed at 25% while giving $100k in stocks could be taxed at 10%. Why give the government, rather than the Charity, that extra tax money?!
4)Donating ANYTHING to a charity is a tax benefit, to some limitation(s), to the Giver.
5)It's not like Tim had the following dilemma: "hmmm, the government is just going to take $5 mill from me so I'll just donate $5 mill". He wasn't forced, via tax reasons, to give $5 mill. However, Tim's general overall income is taxed and depending on how much he does/does not donate affects his taxes. Anyone in the USA can benefit tax-wise, somehow, from donating to charities.
6)I'm happy that Tim, like others that Bill Gates has signed on to the Giving Pledge, announced that he will give away the vast majority of his wealth. Although this forum is not the proper place for a long, versatile discussion about giving away so much wealth, I believe that your children should not inherit hundreds of millions or billions of dollars. $10 mill? Sure. But that's about it in my general view.
7)I think it would be nice to know what Tim donates to...just personal curiosity.
1)Like most "highly compensated employees" (yes, that is a real term...look it up), he is compensated very much via stock.
2)Like many people/families who have very high incomes, Tim chooses to donate to various charities. Our family does the same. We donate to a non-profit school, a college, Cancer research, other medical research, and the Diaper Bank. We also buy about $500 worth of toys at Christmas time and donate to Toys For Tots.
3)Donating stock instead of cash to charities is a tax incentive for the Giver and Recipient. Period. Moreover, why would I want more of my donation being taxed rather than going to the Charity? For example, if I gave $100k in cash it might be taxed at 25% while giving $100k in stocks could be taxed at 10%. Why give the government, rather than the Charity, that extra tax money?!
4)Donating ANYTHING to a charity is a tax benefit, to some limitation(s), to the Giver.
5)It's not like Tim had the following dilemma: "hmmm, the government is just going to take $5 mill from me so I'll just donate $5 mill". He wasn't forced, via tax reasons, to give $5 mill. However, Tim's general overall income is taxed and depending on how much he does/does not donate affects his taxes. Anyone in the USA can benefit tax-wise, somehow, from donating to charities.
6)I'm happy that Tim, like others that Bill Gates has signed on to the Giving Pledge, announced that he will give away the vast majority of his wealth. Although this forum is not the proper place for a long, versatile discussion about giving away so much wealth, I believe that your children should not inherit hundreds of millions or billions of dollars. $10 mill? Sure. But that's about it in my general view.
7)I think it would be nice to know what Tim donates to...just personal curiosity.
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You still get very little in return for donations. I donated more than $10k last year. Doesn't mean I get to subtract $10k from what I have to pay in taxes. It's also on earned income, so it's been taxed already, even before the donation was made.
Yeah, as a result the products are soulless and the quality is also questionable. They are just a tool now to achieve record earnings.
I can't imagine Tim flipping the table, when someone proposes an idea, like the notch on the iPhone.
In my opinion in his time, that would be solved properly or they would skip the idea until they figure out a way.
You can clearly see, that all of their products and their new features are half baked. For example, touch bar, butterfly keyboard, HomePod, etc.
They just release it as soon as possible, to beat the last quarter's record earnings.
100%= 1 Billion
10%= 100 Million
1%= 10 Million
So, what's 5 million....guess what, it's not 0.005%
Oh darn, someone else already pointed that out.
As for TC, good job.
Don't get it why people complain about him doing it for tax reasons, for what, as if you get the majority of that amount back...NOT.
Steve Jobs also gave money away, but he never talked about it.
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What I do or have done isn't relevant, because I'm not lecturing Tim Cook on what he chooses to do regarding charity. However, I am more than willing to call out hypocrites. Sorry if it struck a chord. As for fulfillment, I actually do enjoy holding up a mirror to terrible people who don't practice what they preach.
THAT I do respect. People who do charity and keep it private. There’s no agenda in that. It's integrity.
If people have as their work to raise money here and there for it, it's acceptable that it's public.
But as a person, who make it public that they donate this and that privately. Sorry I don't like it.
As if they think they can buy a reputation of goodness. I don't trust it.
I've heard enough many stories of how charity is used to buy themselves a reputation of being good.
Heard of a wealthy guy who donated a massive amount to something, at the same time he was suing his daughter.
That sounds fine, right?
I've heard more how celebs use charity for personal issues, uses alcohol companies to sponsor their charities.
Wonderful.
Today, it's a big industry. And yes tax reduction, and guess more personal advantages too.
I'm not sure of Tim's agenda in this, I don't know the guy. But it's certain that he wants people to think he is a really good guy, as he make his charity work/donations public.
That's exactly why I hesitate strongly to think that
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[doublepost=1534973452][/doublepost]It would be nice if he would help out apple retail employees. Been with apple for 9 years making 17.50 an our as a technician. Sad that apple wont give us a cost of living increase. They don’t care if we struggle.
Apple CEO Tim Cook recently donated 23,215 shares of Apple stock to charity, according to a filing with the U.S. Securities and Exchange Commission released today. At the stock's current closing price of $215.04, Cook's donation is worth close to $5 million.
The SEC filing does not disclose the charity that Cook donated the shares to, as executives are not required to divulge that information.
In the past, Cook has said that he plans to give away all his wealth. In a 2015 Fortune interview, for example, Cook said that he had already begun donating money quietly, but that he had plans to develop a "systematic approach to philanthropy."
Following the charitable donation, Cook continues to own 878,425 shares of Apple stock, worth almost $189 million.
Article Link: Tim Cook Donates Almost $5M Worth of Apple Shares to Charity
[doublepost=1534975007][/doublepost]Your personal sense of self-entitlement to be in judgement of such information is reprehensible... frankly, I doubt sincerely if you could hold mirror up to yourself and be so self-righteous. That is why I called YOU out for your commentary on something that is frankly NONE OF YOUR DAMN BUSINESS or CONCERN!
However, I do uphold your right to FREE SPEECH... just as I hold on to my own rights to speak up against your public opinions... no matter how worthless I believe them to be. I also support Tim Cooks right TO PRIVACY and fully support his non-disclosure of this information.
For sure. And, while I suppose these articles need to be written as it is Apple-related, I wish they would use scare-quotes around "charity." And, IMO, it is even worse than your examples, as some of these organizations do a lot of damage, not just less-significant good.
I was talking about the $1 per year salary, not charitable donations. Try reading next time. It is complete and total tax dodging and nothing to do with charity.
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Did you donate $10k in stock or salary though? It’sdetails that matter. Salary earned is deducted income tax whereas stocks are not taxed as income. But a charitable donation of stock value can be used as an income tax deduction for the “salary” part of Cook’s compensation, even though he didn’t pay income tax on the stocks in the first place. It is definitely a tax cheat only available to the super-wealthy. Completely legal, but not exactly equivalent to you getting, essentially, a partial tax rebate. This is Cook getting back taxes on money he was never taxed on in the first place.
Yep, typical avoidance strategy. Maybe you should read up on Tim's nice little bonus, then you will wake up and realize that 5 is pittence..such a mark.
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Maybe you need a new accountant & spectacles. Btw, you might want to read the latest news piece on further bonuses & only then realise that 5 for him is pittence.
I wonder if Apple Retail staff are satisfied with 'charity' to a non descriptor organisation,..when staff are struggling.
When executives receive stock as compensation for employment (e.g. through vesting RSUs such as has been the case for Mr. Cook), it is taxed as income just as if it had been cash compensation. They owe income taxes on the market value of the shares when they vest.
I am not trying to be mean, but you work in RETAIL. $17.50 is more than plenty working at a RETAIL store doing any kind of non-Management role. Whether you fold shirts or flip burgers or promote iPads or sell fishing rods or bag groceries or stock shelves or greet customers, $17.50 is far above minimum wage in a retail experience. And you've been doing it for 9 years. You should have moved out of retail after 2-3 years...go work at Apple Tech Support (a high % work from home), or work at some other kind of computer/technical role. $17.50 x 30 hours a week x 50 weeks is $26,250 a year and if it was 40 hours a week it would be $35k. I assume you get some kind of health benefits. You're making fairly good money for what you are actually doing and according to payscales of this kind of work. Even a raise of $1.00 more an hour would be about a 6% pay increase which honestly probably doesn't help if you are already struggling. To get away from "struggling" you would likely need a 30% or more pay increase. I don't see Apple paying you $24/hour ($48k/year at 40 hours a week for 50 weeks) or more unless they cut their staff.
In 1993 I completed college and my first job was Tech Support for numerous Microsoft products and I made $24k a year with some fair benefits and quit 2 years later when I was making $35k I believe. Tech Support these days is $30k-$45k entry position (they will take anyone with a heartbeat..seriously...and you probably speak fluent English and are TECHNICAL already)...$45k with some experience and/or highly technical skills. As I moved from job to job, I sucked up every experience and knowledge I could...knowing how the guts of computers and OSes work to moving into network admin/IT admin/in-house employee support and then moving to Presales and then moving into Sales Enablement. There are a lot of options if you are technical and especially if you can communicate well. I have yet to try Business Analyst, Product Management, and Product Marketing. I've never been a manager and don't think it's my cup of soup.
Also, for about the last 15 years, NOBODY in the USA has gotten a "cost of living" increase except government employees. Seriously. I have worked for the same very-high tech and very large company for 10+ years and had excellent reviews year after year and received a one-time 2% increase. It sucks. It really does. But I weigh all my options, employer quality, and quality of life and I stick with it. I know over 100 people in this company and none of them have received any kind of cost of living raise. Nobody. And they have 5-15 years tenure and are really bright people.
You should leave Retail. Period. I know this may be easier said than done. If you love Apple (and you seem to be devoted), find some other Apple job such as in-house tech support for some company. The longer you stay in Retail, the harder (very much harder) it is to get out. If you started at Apple at age 18 that means you're 27 now...if you started at 23 you are 32 now...dude, get the heck out of there because you are technical and not just a smiling Apple employee asking "can I help you?" to 4000 customers every day. You have a brain and Apple computers make up only 5% of the worlds total computer installations (1% in corporate America)...you are highly marketable in corporate America if you are a Mac god. If you are an iPad or other iDevice god, you are not as unique.
For an immediate solution, you could politely ask your manager how you can earn more money...extra hours? overtime? train to become a manager? However, before you ask, PREPARE TO OFFER SOLUTIONS such as I mentioned. Show them you are eager to stay with Apple Retail but you frankly need more income...and you have given time and thought to how you can help Apple Retail. And, it's not just about you needing more income...but it's the fact that you want to GROW within Apple Retail and offer your experience, leadership, and customer service skills to better satisfy customers.
If you want to post or PM me your LinkedIn profile, I would be happy to offer suggestions.
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Good for him, I do that too, but before I finish tooting my horn, it's a lot easier giving everything away when you aren't actually worth much and don't have far to fall. Not sure I'd be able to stick to my ethics once you tack on all those extra zeroes like Mr Cook has. I'd probably lose any and all sense of reality and buy an island, and get up to some nefarious Bond villain mischief instead. Well, not really, but it's fun to think about someone doing.
I think he did this only because it looks nice. So, for advertising and marketing purposes. And why isn't any charity specified?
"according to a filing with the U.S. Securities and Exchange Commission released today"
Probably because HE did not pubblicly stated (so hardly to look good or he would be bragging about it) that he donated and it was SEC filing that did it and they are the one disclosing just part of the info.
Tim did not say he did nor where he did..... how is he doing nothing to look good?