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Tim Cook Receives Bonus of $5 Million and Stock for Performance During Jobs' Absence
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It makes me sick that we pay these "bankers" and celebrities make HUGE amounts of money while our teachers, police force, firemen are barely making ends meet. Insurance companies, banks, elected officials in Washington are living very well while most American's are struggling financially. Something is very wrong with this equation.
Bonus
I don't know exactly what a top shareholder would expect from Apple, for the time that Steve was out.
But, it seems like a super nice surprise, considering the severity of Steve's illness. So much could have happened, and maybe it's Jobs' way of appreciating and being grateful for the help. I suppose a lot could have gone crazy, and it didn't.
It makes me feel good, from a grateful standpoint.
I don't know exactly what a top shareholder would expect from Apple, for the time that Steve was out.
But, it seems like a super nice surprise, considering the severity of Steve's illness. So much could have happened, and maybe it's Jobs' way of appreciating and being grateful for the help. I suppose a lot could have gone crazy, and it didn't.
It makes me feel good, from a grateful standpoint.
I think it's Apple's way of realizing that Cook's performance makes him an attractive proposition to other tech companies, and that they need to show some love if they want to keep him.
This is ridiculous! Obama needs to regulate Corporate Bonuses even if the company didn't get a bailout. Nobody should be awarded this much. There has to be a Federal Limit--say Max bonus per year is $7,500.
That is still a great bonus and doesn't put the company at risk and doesn't put us potential taxpayer's at risk for a potential future Government bailout.
I think he should return the money.
That is still a great bonus and doesn't put the company at risk and doesn't put us potential taxpayer's at risk for a potential future Government bailout.
I think he should return the money.
Steve Jobs and Tim Cook, Every Monday from Now On...
SJ: Hey Tim, Good morning.
TC: Good morning Steve, how are you?
SJ: Pretty good, how 'bout you?
TC: Are you sure Steve? You look a little pale.
SJ: No, I feel great.
TC: I don't know, Steve. You look like you might faint.
SJ: Tim, I'm fine.
TC: Steve, I really think you should take today off... In fact why don't you take the week off. I'll cover for you!
SJ: No, Tim.
TC: Come on, Steve! Papa needs a new yacht baby!
SJ: Hey Tim, Good morning.
TC: Good morning Steve, how are you?
SJ: Pretty good, how 'bout you?
TC: Are you sure Steve? You look a little pale.
SJ: No, I feel great.
TC: I don't know, Steve. You look like you might faint.
SJ: Tim, I'm fine.
TC: Steve, I really think you should take today off... In fact why don't you take the week off. I'll cover for you!
SJ: No, Tim.
TC: Come on, Steve! Papa needs a new yacht baby!
You forget that Tim Cook is Chief Operation Officers AND take acting CEO which is double shift that will fried brain and health. I believe that he have no little time with family, or free time himself while half year. He deserve earning it while Apple are on track in sharp path goal and not even single drop fall such stock, posted profit. GOOD JOB Tim Cook.
A Mac "Pro" is someone who depends on Mac computers to make their living.
A "Pro" is a lot more than someone using Final Cut Studio (which probably has the largest market share vis-a-vis Avid it has ever had). I am a Pro -- I use Macs to write software for a living -- and believe me I think today's MacBook Pros and Mac Pros are perfect tools for my job. I don't need fancier graphics cards, nor do I need Apple to double the number of programers working on FCS.
Honestly, I suspect Apple hires every single developer they can find that meets their very high standards (and doesn't prefer to do their own thing or work for Google or doesn't want to live near Cupertino, CA). Money has nothing to do with it -- they could double their programmer budget and still not materially increase the number of developers if they want to keep their standards.
To put it another way -- Microsoft probably has 10x the number of people working on Windows than Apple has on OS X. The results speak for themselves -- warm bodies buy you nothing.
A "Pro" is a lot more than someone using Final Cut Studio (which probably has the largest market share vis-a-vis Avid it has ever had). I am a Pro -- I use Macs to write software for a living -- and believe me I think today's MacBook Pros and Mac Pros are perfect tools for my job. I don't need fancier graphics cards, nor do I need Apple to double the number of programers working on FCS.
Honestly, I suspect Apple hires every single developer they can find that meets their very high standards (and doesn't prefer to do their own thing or work for Google or doesn't want to live near Cupertino, CA). Money has nothing to do with it -- they could double their programmer budget and still not materially increase the number of developers if they want to keep their standards.
To put it another way -- Microsoft probably has 10x the number of people working on Windows than Apple has on OS X. The results speak for themselves -- warm bodies buy you nothing.
Tim deserves that, he did a great job while there was a lot of talk about Steve's health problems so it was not easy as every word was dissected and also resulted in Apple share price fluctuations.
How can you say how much one should get - it is up to the company's themselves and as has already pointed out this is totally deserved unlike the bankers who nearly bankrupted your country along with Europe and other nations that rely on the US economy.
Bankers consider bonuses a divine right, Tim's was a recognition of his ability to steer a company during difficult times.
Good luck to him.
I suppose I should not bring this up, but does it make you feel something might just be a little wrong with the world that one guy is given $5m whilst the same company pays (almost) kids a tiny amount to make it's products.
I know it's business and all that, and the way the modern world works, yet, it really seems a bit wrong don't you think?
I know it's business and all that, and the way the modern world works, yet, it really seems a bit wrong don't you think?
I really don't think I could have made it through the week without knowing this headlining, breaking news about the bonus some guy makes that 99.9% of us don't know personally.
Spilt what market? Corporate/Industrial? Events/weddings? News? Commercials? Local TV? National TV? Movies? According to survey of A.C.E. members a couple of years ago about 80% of them were using Avid and about 20% were using FCP. But that's a very narrow, albeit high end, selection of users to poll. Broaden the net out some and FCP's user base will be bigger than Avids. Broaden it out a bit more and I wouldn't be surprised if Premiere's or Vegas's user base is bigger than FCP's. But Avid still gets to say it's the number one choice in Hollywood which carries a lot more weight than saying you're the number one choice of low-budget movies or local advertising agencies.
That's basically how Apple gained the market share they did w/FCP. Make it 'good enough' and drastically undercut the competition in terms of price. Even today, if FCS and Avid MC were the same price I don't think people who choose FCS so quickly if they couldn't get it for so cheap.
Lethal
Still, without Steve Jobs vision Apple would not be able to survive longer then 10 years. Apple needs to R&D ways of retaining Steve's vision for the time after he retires. One possible solution would be the development of an advanced A.I.
Huh? So you are arguing that Apple is somehow insignificant in the computer industry. That they are making money, but it doesn't count because they make low cost machines and compete against netbooks (which BTW is the only PC segment with any growth right now)?
Apple have allegedly sold something in the region of 50,000 iPads in the first few hours this morning. If everyone brought the cheapest model (unlikely, but let's say they did) and no one brought any accessories then that is 2.5 million in revenue.
Puts it all in perspective.
It would cost Apple far more in the long term if Tim Cook went elsewhere and they lost his skill and talent. This is what the money is about.
No disrespect intended, but this is actually somewhat inaccurate. FCP has right at 50% of the market with the remaining 50% being comprised of AVID, Adobe, Autodesk, GVG and Quantel.
There are some others making up the latter part of that mix as well but since they're relatively small in terms of high-end post market share it's almost not relevant (ie: Sony, NewTek, even Apple's FCE, etc..)
That being said, what that other cat was saying about it being a 'niche' market is fairly accurate. The high-end post world is a niche market, but it's one that Apple dominates by a rather large margin; and I hope they continue to do so.
The notion that the 'pro' segment is being neglected is absurd however. Quality takes time, and I'd rather them spend time investing in quality product than just pumping out a new update each time a new processor is released.
We've all seen what happens when products are rushed out the door (iMac 27" screen). Apple gets bitched at when they have quality control problems (ie: MacPro audio, etc) and they get bitched at when they don't rush new systems out each month (ie: MacPro and MBP updates being long in the tooth) - so I for one prefer the slower release cycle in favor of more reliable products.
Okay, good point. I know Apple is in great financial standing so that "bonus" isn't even a dent in their pocket, but I guess for me who doesn't even earn close to 1% of that cash bonus, I'm just jealous...