Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > Community > MacNN Lounge > Tim Cook got paid $378 million last year - highest paid CEO in the US

Tim Cook got paid $378 million last year - highest paid CEO in the US
Thread Tools
Eug
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 10, 2012, 10:57 PM
 
Apple's Tim Cook ranked nation's highest-paid CEO for 2011 - latimes.com

Interestingly, that puts him above the combined pay of the rest of the top 10. The next 9 combined made $356 million.
     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status: Offline
Reply With Quote
Jan 10, 2012, 11:05 PM
 
Way to go, Tim.

-t
     
Shaddim
Clinically Insane
Join Date: Apr 2003
Location: 46 & 2
Status: Offline
Reply With Quote
Jan 11, 2012, 12:35 AM
 
Good for him, he did a great job.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
- Thomas Paine
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 11, 2012, 01:17 AM
 
If this a one time deal over the next 5 years, that seems more reasonable. It'd be crazy for a yearly thing though.
     
Don Pickett
Professional Poster
Join Date: Mar 2000
Location: New York, NY, USA
Status: Offline
Reply With Quote
Jan 11, 2012, 01:25 AM
 
The era of anthropomorphizing hardware is over.
     
Sealobo
Professional Poster
Join Date: Apr 2001
Location: The Intertube
Status: Offline
Reply With Quote
Jan 11, 2012, 01:43 AM
 
if he ****s up the company, the granted stock option value will be worth a lot less by year 2016.

i think it's good incentive. he basically passed probation when Steve Jobs was taking sick leave for extended period of time anyway.
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 11, 2012, 02:15 AM
 
? That basically just repeats what the original article I posted says, which is that the SEC books it the year the stocks were issued.

Originally Posted by Sealobo View Post
if he ****s up the company, the granted stock option value will be worth a lot less by year 2016.

i think it's good incentive. he basically passed probation when Steve Jobs was taking sick leave for extended period of time anyway.
He did not get stock options. He got restricted stock, which retains the intrinsic value of Apple stock. ie. If they were worth $376 when granted, and AAPL drops to $350 when these RSUs vest, they'll still be worth $350. ie. Completely different math than stock options. Alternatively if AAPL continues to climb, cumulatively those shares could be worth a lot more than $500 million by 2016. Right now, just a few months later, those shares are already worth $423 million.
     
Sealobo
Professional Poster
Join Date: Apr 2001
Location: The Intertube
Status: Offline
Reply With Quote
Jan 11, 2012, 09:37 AM
 
Originally Posted by Eug View Post
He did not get stock options. He got restricted stock, which retains the intrinsic value of Apple stock. ie. If they were worth $376 when granted, and AAPL drops to $350 when these RSUs vest, they'll still be worth $350. ie. Completely different math than stock options. Alternatively if AAPL continues to climb, cumulatively those shares could be worth a lot more than $500 million by 2016. Right now, just a few months later, those shares are already worth $423 million.
i know how it works. so technically it's a free-of-cost stock option just that he can't exercise the half of it until year 2016.
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 11, 2012, 12:14 PM
 
No, that is still incorrect. Restricted stocks are stocks, not options. The value of restricted stocks will not quickly drop to zero like options often do. For restricted stock to drop to zero, Apple would have to go bankrupt.

To put it another way: If AAPL were trading at $350 in 2016, his options would be worth exactly zero. However, his restricted stock would be worth $350 million, cuz they're actual stocks.
( Last edited by Eug; Jan 11, 2012 at 12:21 PM. )
     
Athens
Addicted to MacNN
Join Date: Jan 2003
Location: Great White North
Status: Offline
Reply With Quote
Jan 11, 2012, 03:20 PM
 
Originally Posted by Eug View Post
Apple's Tim Cook ranked nation's highest-paid CEO for 2011 - latimes.com

Interestingly, that puts him above the combined pay of the rest of the top 10. The next 9 combined made $356 million.
That works out to be $17,800 for every min wage retail worker at Apple.

C'mon give them all 17,000 more a year and take a smaller wage of $16,000,000

Classic example of wage disparity, you could have 20 000 people with 17 000 more in there pockets to spend spend spend ($340,000,000) into the economy or you can pay all that money to one person and have the money do nothing.


Arrr I read this being stock options after I posted this. Totally different from wages and pay outs.
Blandine Bureau 1940 - 2011
Missed 2012 by 3 days, RIP Grandma :-(
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 11, 2012, 04:07 PM
 
Again, these are not stock options. These are stocks, but he can't sell them until 2016 (half) and 2021 (other half).

The cost to the company is $376 million by SEC rules (unless he quits before then).
     
sdilley14
Mac Elite
Join Date: May 2005
Location: La Crosse, WI
Status: Offline
Reply With Quote
Jan 12, 2012, 08:58 PM
 
I would be curious to know what he actually did to warrant this type of income. I'm not going to pretend that I have any idea of what his day to day duties consist of, because I don't. It seems like he walked into a pretty great situation in a company that was set up for success and had a succession plan put in place long before he took over. My guess is that they had a very detailed "road map" set out for their business, a road map for them to follow for the next several years. Part of me thinks he could have just stayed in bed every single day this past year and the company, more or less, would have been just as successful. Like I said though, I really have no idea if he made any contributions/strategic decisions that they hadn't already planned on, that warranted him this type of income...
2.3 GHz Intel i5 MacBook Pro
iPhone 4 - 16 GB - Black
8gb iPod Nano
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 12, 2012, 09:06 PM
 
The industry consensus is that he is directly resonsible for the efficiency of Apples logistics and supply chain. The multi-billion dollar deals with LG, the requisitioning of all air freight from China several christmasses ago that royally shafted Nintendo. From the various things I've read about the inner workings of Apple, he is a big part of that massive cash reserve they are sitting on.

On top of that, he has worked closely with Steve for years now and has been groomed as his replacement. If Steve himself chose him, he may well be party to some information, plans, tactics and operating procedures that no-one else knows. These are all reasons they went all out to get him to stay on for the long haul.
I have plenty of more important things to do, if only I could bring myself to do them....
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 12, 2012, 09:07 PM
 
Not to mention the damage he could do if he were poached by HP, Dell or M$.
I have plenty of more important things to do, if only I could bring myself to do them....
     
sdilley14
Mac Elite
Join Date: May 2005
Location: La Crosse, WI
Status: Offline
Reply With Quote
Jan 12, 2012, 09:43 PM
 
Those reasons all make perfect sense.
2.3 GHz Intel i5 MacBook Pro
iPhone 4 - 16 GB - Black
8gb iPod Nano
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 12, 2012, 10:27 PM
 
It's still a ridiculous amount of money - more than anybody needs. It's a shame to think about how much good that money could do somewhere else.
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 13, 2012, 01:40 AM
 
Originally Posted by Waragainstsleep View Post
The industry consensus is that he is directly resonsible for the efficiency of Apples logistics and supply chain. The multi-billion dollar deals with LG, the requisitioning of all air freight from China several christmasses ago that royally shafted Nintendo. From the various things I've read about the inner workings of Apple, he is a big part of that massive cash reserve they are sitting on.
He also apparently pre-paid $1.25 billion in the mid-2000s, to corner the flash memory market for years.

On top of that, he has worked closely with Steve for years now and has been groomed as his replacement. If Steve himself chose him, he may well be party to some information, plans, tactics and operating procedures that no-one else knows.
Steve also chose his clothing.

     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status: Offline
Reply With Quote
Jan 13, 2012, 03:11 AM
 
Originally Posted by besson3c View Post
It's still a ridiculous amount of money - more than anybody needs. It's a shame to think about how much good that money could do somewhere else.
How do you know the money doesn't do any good right now ?

-t
     
Shaddim
Clinically Insane
Join Date: Apr 2003
Location: 46 & 2
Status: Offline
Reply With Quote
Jan 13, 2012, 03:35 AM
 
Well, you know, because it hasn't been dispersed to the general population. Of course, it all comes back to the same people, because that's the way it works. But it sure is nice to say we can redistribute wealth and it'll all work itself out, right?
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
- Thomas Paine
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 13, 2012, 10:15 AM
 
Yes, it would be much better giving it to poor people so they can buy bootleg DVDs in barber shops.
Or bigger guns so they can rob other peoples houses.

Or Lamborghinis.
I have plenty of more important things to do, if only I could bring myself to do them....
     
lpkmckenna
Addicted to MacNN
Join Date: Jul 2004
Location: Toronto
Status: Offline
Reply With Quote
Jan 13, 2012, 10:40 AM
 
Originally Posted by sdilley14 View Post
I would be curious to know what he actually did to warrant this type of income. I'm not going to pretend that I have any idea of what his day to day duties consist of, because I don't. It seems like he walked into a pretty great situation in a company that was set up for success and had a succession plan put in place long before he took over. My guess is that they had a very detailed "road map" set out for their business, a road map for them to follow for the next several years. Part of me thinks he could have just stayed in bed every single day this past year and the company, more or less, would have been just as successful. Like I said though, I really have no idea if he made any contributions/strategic decisions that they hadn't already planned on, that warranted him this type of income...
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 10:51 AM
 
Originally Posted by turtle777 View Post
How do you know the money doesn't do any good right now ?

-t
I guess one would figure that you'd hear about something like this?
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 10:52 AM
 
Originally Posted by Shaddim View Post
Well, you know, because it hasn't been dispersed to the general population. Of course, it all comes back to the same people, because that's the way it works. But it sure is nice to say we can redistribute wealth and it'll all work itself out, right?
Trickle down?
     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status: Offline
Reply With Quote
Jan 13, 2012, 12:09 PM
 
Originally Posted by besson3c View Post
I guess one would figure that you'd hear about something like this?
Only if Tim wanted to. Maybe he doesn't want to.

Also, (maybe a bit more generally), what makes you think that money in a bank account doesn't do any good ?
It will be loaned to businesses, who use it to grow their operations, invest etc...
How could you say that just handing it out to someone who's poorer is better than making the money available for investments that might create jobs ?

-t
     
d4nth3m4n
Addicted to MacNN
Join Date: Oct 2003
Location: Far above Cayuga's waters.
Status: Offline
Reply With Quote
Jan 13, 2012, 12:10 PM
 
Originally Posted by besson3c View Post
It's still a ridiculous amount of money - more than anybody needs. It's a shame to think about how much good that money could do somewhere else.
What money? It's an arbitrary share of a business, assigned a market determined price that he can't touch for almost 5 years. It's anything but liquid. It's not like he can go to an ATM and withdraw some of it. Either can anyone else. This money DOESN'T exist yet.

I hate when people say crap like this.
     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status: Offline
Reply With Quote
Jan 13, 2012, 12:13 PM
 
^^^ I completely agree with that, but I think the problem goes deeper.

Like I said, even IF Tim had that money already, who says that NOT handing out freebies prevents the money from doing any good.
There are people that think the only "good" (in a moral sense) use of money is to redistribute it. That's just bull.

-t
     
d4nth3m4n
Addicted to MacNN
Join Date: Oct 2003
Location: Far above Cayuga's waters.
Status: Offline
Reply With Quote
Jan 13, 2012, 12:37 PM
 
I hear you, but that edges into poli/war. I've never posted in there, and I'm not about to start, especially on this site.
     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status: Offline
Reply With Quote
Jan 13, 2012, 12:44 PM
 
I don't blame you

-t
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 01:42 PM
 
Originally Posted by turtle777 View Post
Only if Tim wanted to. Maybe he doesn't want to.

Also, (maybe a bit more generally), what makes you think that money in a bank account doesn't do any good ?
It will be loaned to businesses, who use it to grow their operations, invest etc...
How could you say that just handing it out to someone who's poorer is better than making the money available for investments that might create jobs ?

-t
So, trickle down?

I don't know how I could say that, because I didn't.
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 01:46 PM
 
Originally Posted by d4nth3m4n View Post
What money? It's an arbitrary share of a business, assigned a market determined price that he can't touch for almost 5 years. It's anything but liquid. It's not like he can go to an ATM and withdraw some of it. Either can anyone else. This money DOESN'T exist yet.

I hate when people say cheat like this.

I get your point, but liquid or not it's still an obscene amount of money. I'm not making a moral statement about whether he should have it and yadda yadda, I'm just saying that it is an obscene amount of money, cause it is, and that it doesn't take much imagination to think about how money like that could be used to make the world a better place. Again, not a moral statement, just a statement without any particular assertions about what should be different, so keep your knees in check anti-wealth redistributors.
     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status: Offline
Reply With Quote
Jan 13, 2012, 03:21 PM
 
Originally Posted by besson3c View Post
how money like that could be used to make the world a better place. Again, not a moral statement, just a statement without any particular assertions about what should be different,
NOT a moral statement ?

I shall ask the mods to have ALL your posts default to the PWL, because it's almost impossible for you to not sooner or later try to twist stuff in a PWL worthy way.

-t
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 03:26 PM
 
I think all of my posts should default to the marketplace.

I could play the hypocrite card on you, but that would just be a little too MacNN formulaic, and I'm starting to get bored with the MacNN formula - maybe even my own formula. It's time to reinvent besson3c, and in doing so MacNN since, let's face it, I'm the lifeblood of this place.

Maybe besson3c 2.0 will get Doofy to tell me about his stupid cat.
     
d4nth3m4n
Addicted to MacNN
Join Date: Oct 2003
Location: Far above Cayuga's waters.
Status: Offline
Reply With Quote
Jan 13, 2012, 03:29 PM
 
Originally Posted by besson3c View Post
I get your point, but liquid or not it's still an obscene amount of money. I'm not making a moral statement about whether he should have it and yadda yadda, I'm just saying that it is an obscene amount of money, cause it is, and that it doesn't take much imagination to think about how money like that could be used to make the world a better place. Again, not a moral statement, just a statement without any particular assertions about what should be different, so keep your knees in check anti-wealth redistributors.
The.Money.Does.Not.Exist. It's just a number on a balance sheet. That's it, just a number. Now, Bill Gates has donated a SH!TLOAD of money to charitable causes, but ever wonder why it hasn't been more? Because that money DOESN'T REALLY EXIST. The lion's share of his net worth is based on stock he holds (and WILL CONTINUE to hold to maintain a [somewhat controlling] interest in microsoft). He will probably NEVER liquidate it, either will Cook. Sure, they can leverage against it, but it's not like it's just sitting under their mattresses getting dusty.

THAT'S what pisses me off, the prevailing thought that the wealthy have their money in a moneypit like scrooge McDuck.

I agree that the amount of money is obscene, but when you're dealing with a company as valuable as Apple, that's what it takes to show that someone is appreciated and should stick around. Apple has about 900million shares, would you complain if a restaurant manager was given 1/900th of the restaurant [over 10 years] as a performance incentive? See also: professional athletes and their share of the ad deals. It's just the price of admission.
     
ort888
Addicted to MacNN
Join Date: Feb 2001
Location: Your Anus
Status: Offline
Reply With Quote
Jan 13, 2012, 03:35 PM
 
What's funny is that I've heard stories that Tim Cook is similar to Steve Jobs in that he doesn't really do a lot with his money. He's very modest with his cash.

I think that most people who achieve success on this level aren't really doing it for the money anyway. They have some sort of fire inside that drives them.

My sig is 1 pixel too big.
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 03:38 PM
 
Originally Posted by d4nth3m4n View Post
The.Money.Does.Not.Exist. It's just a number on a balance sheet. That's it, just a number. Now, Bill Gates has donated a SH!TLOAD of money to charitable causes, but ever wonder why it hasn't been more? Because that money DOESN'T REALLY EXIST. The lion's share of his net worth is based on stock he holds (and WILL CONTINUE to hold to maintain a [somewhat controlling] interest in microsoft). He will probably NEVER liquidate it, either will Cook. Sure, they can leverage against it, but it's not like it's just sitting under their mattresses getting dusty.

THAT'S what pisses me off, the prevailing thought that the wealthy have their money in a moneypit like scrooge McDuck.

I agree that the amount of money is obscene, but when you're dealing with a company as valuable as Apple, that's what it takes to show that someone is appreciated and should stick around. Apple has about 900million shares, would you complain if a restaurant manager was given 1/900th of the restaurant [over 10 years] as a performance incentive? See also: professional athletes and their share of the ad deals. It's just the price of admission.

Comon, you're saying that he can't sell some of his shares?

The money exists, it is just not very liquid like you said before. Employees selling their shares is not all that uncommon.
     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status: Offline
Reply With Quote
Jan 13, 2012, 03:44 PM
 
Originally Posted by besson3c View Post
Comon, you're saying that he can't sell some of his shares?

The money exists, it is just not very liquid like you said before. Employees selling their shares is not all that uncommon.
Did you even READ this thread ? The concept of "restricted shares" was explained multiple times.
Or are you just trying to stir shit ?

Seriously

-t
     
d4nth3m4n
Addicted to MacNN
Join Date: Oct 2003
Location: Far above Cayuga's waters.
Status: Offline
Reply With Quote
Jan 13, 2012, 03:58 PM
 
Originally Posted by besson3c View Post
Comon, you're saying that he can't sell some of his shares?

The money exists, it is just not very liquid like you said before. Employees selling their shares is not all that uncommon.
I didn't say he can't I said that he probably won't.
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 10:11 PM
 
Originally Posted by turtle777 View Post
Did you even READ this thread ? The concept of "restricted shares" was explained multiple times.
Or are you just trying to stir paint ?

Seriously

-t
Looking for your jollies again?
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 10:13 PM
 
Originally Posted by d4nth3m4n View Post
I didn't say he can't I said that he probably won't.

You're probably right, he wouldn't have to, but my point is that isn't it fair to assume that at least some percentage of his shares could be sold/are unrestricted?
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 13, 2012, 11:01 PM
 
I expect he already owned some unrestricted stock. I don't think the point of giving someone restricted shares implies that some of them would be unrestricted.
I have plenty of more important things to do, if only I could bring myself to do them....
     
Shaddim
Clinically Insane
Join Date: Apr 2003
Location: 46 & 2
Status: Offline
Reply With Quote
Jan 13, 2012, 11:27 PM
 
Originally Posted by Waragainstsleep View Post
Yes, it would be much better giving it to poor people so they can buy bootleg DVDs in barber shops.
Or bigger guns so they can rob other peoples houses.

Or Lamborghinis.
Yeah, damn me for buying that car, I guess I should have donated the money. Over the last year we gave away 50x more than what I paid for it, but some people have no problem stopping me and telling me I'm a greedy bastard for owning such a thing.

"That's a waste! How the hell do you sleep at night when people are hungry?"
"I sleep like a baby. Because I take joy in writing $1M checks to children's hospitals, bitch."

Fact is, you don't know what these people do, how they work behind the scenes. Hell, he may have built a school in Uganda, would that make you guys feel better? People need to stop worrying about others and start doing.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
- Thomas Paine
     
besson3c
Clinically Insane
Join Date: Mar 2001
Location: yes
Status: Offline
Reply With Quote
Jan 13, 2012, 11:53 PM
 
Originally Posted by Waragainstsleep View Post
I expect he already owned some unrestricted stock. I don't think the point of giving someone restricted shares implies that some of them would be unrestricted.

Surely there must be some means to get some yacht money, or else what would the point be in working your way up Apple's totem pole if you can't enjoy the lifestyle?
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 14, 2012, 10:50 AM
 
Well he just has to stick around a while and then he can sell them if he wants a new yacht. I'm sure he gets a salary too though.
I have plenty of more important things to do, if only I could bring myself to do them....
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 14, 2012, 10:59 AM
 
Originally Posted by Shaddim View Post
Yeah, damn me for buying that car, I guess I should have donated the money. Over the last year we gave away 50x more than what I paid for it, but some people have no problem stopping me and telling me I'm a greedy bastard for owning such a thing.

"That's a waste! How the hell do you sleep at night when people are hungry?"
"I sleep like a baby. Because I take joy in writing $1M checks to children's hospitals, bitch."

Fact is, you don't know what these people do, how they work behind the scenes. Hell, he may have built a school in Uganda, would that make you guys feel better? People need to stop worrying about others and start doing.
You know I was messing with you right?

How many of your hecklers are complaining from $20,000+ saloons or family wagons? They could easily get around in something that costs $1000. How many starving african orphans could they feed with that $19k?

I wouldn't let it bother you. There aren't many people in the western world who couldn't sacrifice a few luxuries to help others if they felt that strongly. A great many don't even realise those things are even luxuries.

When this whole credit crunch thing started, there were people on the news over here complaining that they "couldn't afford to take a second family holiday this year" like that qualifies as hardship. Bunch of a**holes.
I have plenty of more important things to do, if only I could bring myself to do them....
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 14, 2012, 12:07 PM
 
Originally Posted by besson3c View Post
Surely there must be some means to get some yacht money, or else what would the point be in working your way up Apple's totem pole if you can't enjoy the lifestyle?
Originally Posted by Waragainstsleep View Post
Well he just has to stick around a while and then he can sell them if he wants a new yacht. I'm sure he gets a salary too though.
He already has unrestricted stock.
His salary is $900000, but he also got $900000 as a performance bonus in 2011.
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 14, 2012, 01:16 PM
 
There we go then. Sure he can rustle up at least a deposit for a yacht if he wants one.
I have plenty of more important things to do, if only I could bring myself to do them....
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 14, 2012, 01:57 PM
 
An acquaintance was telling us of some yacht owners they came across. Two or three yachts, each with multiple people to staff them, with the yachts stationed in different places around the world. However, when they visited - 1 or 2 weeks a year - they would rarely take the boats out. They would really only use them for private parties and such.

Somehow I get the vibe that Tim Cook isn't into that sort of thing.

BTW, I live close to a marina. I thought about getting a motorboat (not a yacht), but then decided it wouldn't be worth the hassle. Same goes for a cottage, just to use it 1-2 weeks a year, even if I was making $900000 a year.
     
Waragainstsleep
Posting Junkie
Join Date: Mar 2004
Location: UK
Status: Offline
Reply With Quote
Jan 14, 2012, 03:19 PM
 
A lot of them rent their yachts out don't they?
I have plenty of more important things to do, if only I could bring myself to do them....
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 14, 2012, 06:50 PM
 
Originally Posted by Waragainstsleep View Post
A lot of them rent their yachts out don't they?
I would guess so.
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
Reply With Quote
Jan 15, 2012, 12:41 PM
 
I like the first signs of the new Apple under Tim Cook.

Apple supply chain audit finds worker conditions not up to standards - The Globe and Mail

Apple revealed its once closely guarded list of global suppliers on Friday, taking a dramatic and unprecedented step in response to harsh criticism that it was turning a blind eye to dismal working conditions at partner factories.

The move, unusual in an industry that relies heavily on foreign component suppliers to drive margins but rarer still for an infamously secretive company, underscored some speculation that new Chief Executive Tim Cook has ushered in an era of greater transparency. Predecessor Steve Jobs, who died in October, kept an iron grip on the internal workings of the company he founded and made great.
     
   
Thread Tools
 
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Top
Privacy Policy
All times are GMT -4. The time now is 08:22 AM.
All contents of these forums © 1995-2017 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2017, Jelsoft Enterprises Ltd.,