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Apple's Steve Jobs racks up $127K in travel expenses in Q1 2010

post #1 of 65
Thread Starter 
After health issues in 2009 kept Apple co-founder Steve Jobs mostly grounded, the chief executive took to the skies again in the first quarter of 2010, with his $127,000 in private jet flights suggesting he is out and about, and making deals.

As first noted by Philip Elmer-DeWitt of Fortune Brainstorm Tech, Apple revealed this week in its quarterly U.S. Securities and Exchange Commission filing that Jobs spent $127,000 in travel expenses on his private Gulfstream V jet. That's quite an increase from last year, when Jobs took a leave of absence due to health issues, the chief executive spent just $4,000 on air travel.

"The Company entered into a Reimbursement agreement with its CEO, Steve Jobs, for the reimbursement of expenses incurred by Mr. Jobs in the operation of his private plane when used for Apple business," the filing reads. "The Company recognized a total of $127,000 and $143,000 in expenses pursuant to the Reimbursement Agreement during the three- and six-month periods ended March 27, 2010, respectively."

In the past, Jobs' travel expenses have been taken as a sign of big things to come. In early 2008, Morgan Stanley analyst Katy Huberty noted Jobs' air travel costs surged 170 percent, foreshadowing forthcoming business deals for the international launch of the iPhone. In one quarter alone in the fall of 2007, Jobs spent $550,000 on air travel.

Huberty noted that Jobs was "integral" to any negotiations with foreign cellular providers for iPhone contracts. She theorized that the extra travel was a sign Jobs was meeting with companies to close deals.

Those deals have paid off in the years, since, with last quarter's record setting 8.75 million iPhone sales the best ever for Apple. Sales increased at the start of 2010, even though it was not a holiday quarter, based on the strength of the iPhone overseas and expansion to new carriers.

Elmer-DeWitt noted that Jobs was known to have traveled to the East Coast to meet with print media executives to pitch the iPad before it was released. Jobs reportedly met with both The New York Times and The Wall Street Journal. However, the SEC filings did not detail what Jobs' travel expenses were related to, so it's unknown whether Jobs met with anyone else about any other upcoming Apple projects.
post #2 of 65
When you consider how much it costs to keep a Gulfstream flying, that's not very much.
Please don't be insane.
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Please don't be insane.
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post #3 of 65
Doesn't sound too much to me.
post #4 of 65
The higher he flies, the higher Apple's stock flies, so I say"Fill the tanks, and away!"
post #5 of 65
.....
post #6 of 65
Not really that much. And to save even more, he stays on our pull out sofa when visiting.
post #7 of 65
Post Removed
post #8 of 65
Quote:
Originally Posted by chronster View Post

I wonder how many people hope his jet goes down

That's not something I like think his competitors would consider.
post #9 of 65
Keep those engines roaring if it means more deals. As long as Al Gore isn't on board, the fuel costs will be trivial.
post #10 of 65
I say fly baby... fly!

Considering what SJ does in comparison to your typical fat-cat, I think he should be flying everywhere to seal those deals!
post #11 of 65
*snooze
post #12 of 65
Quote:
Originally Posted by chronster View Post

I wonder how many people hope his jet goes down

What the hell dude! Why on earth would that even enter your mind after reading this story. Admirer and foe alike I believe understand the historical importance of SJ and the legacy he will have made to so many industries and modern culture in general. Why would anyone wish something like that on anyone ? Why was that post even worth the time it took you to type it ?
post #13 of 65
He'll never catch up with Speaker LaLaPelosi....

.
"...The calm is on the water and part of us would linger by the shore, For ships are safe in harbor, but that's not what ships are for."
- Michael Lille -
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"...The calm is on the water and part of us would linger by the shore, For ships are safe in harbor, but that's not what ships are for."
- Michael Lille -
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post #14 of 65
Quote:
Originally Posted by chronster View Post

I wonder how many people hope his jet goes down

What an idiotic statement.
post #15 of 65
Fixed
GIGO. The truth in all of life.
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GIGO. The truth in all of life.
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post #16 of 65
Quote:
Originally Posted by chronster View Post

I wonder how many people hope his jet goes down

Your totally inappropriate remark - regardless of who it may refer to - is of such poor taste that you have pretty much validated to many the juvenile that you are.
post #17 of 65
That seems low to me. Fees, licenses, fuel, maintenance, pilots. I have to think he wasn't using it much this quarter.

PS: Are there any clever names for a plane than N2N, the registration number of Job's jet?
http://en.wikipedia.org/wiki/Aircraf...specific_usage
http://en.wikipedia.org/wiki/List_of...by_tail_number
Quote:
Originally Posted by rbonner View Post

That's just inappropriate to say about anyone.

Quote:
Originally Posted by jwyatt View Post

What the hell dude! Why on earth would that even enter your mind after reading this story. Admirer and foe alike I believe understand the historical importance of SJ and the legacy he will have made to so many industries and modern culture in general. Why would anyone wish something like that on anyone ? Why was that post even worth the time it took you to type it ?

Quote:
Originally Posted by Onhka View Post

What an idiotic statement.

Quote:
Originally Posted by Smiles77 View Post

That was quite inappropriate. I'd appreciate it if you'd remove it.

If you want the comment removed it doesn't help to quote the comment. It either means that it won't be entirely removed or the Mods have to do more work to eradicate it.
Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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post #18 of 65
Why is this any of AI's business and who cares? Traveling about as CEO and doing business is what SJ does.
post #19 of 65
Quote:
Originally Posted by solipsism View Post

If you want the comment removed it doesn't help to quote the comment. It either means that it won't be entirely removed or the Mods have to do more work to eradicate it.

You are right. And until it is removed I leave mine unedited. When it is, I will gladly remove my comment as well.

Unfortunately, we cannot call him an idiot.
post #20 of 65
That's a couple of round trips to the east coast! He didn't travel that much at all.
post #21 of 65
Quote:
Originally Posted by jwyatt View Post

What the hell dude! Why on earth would that even enter your mind after reading this story. Admirer and foe alike I believe understand the historical importance of SJ and the legacy he will have made to so many industries and modern culture in general. Why would anyone wish something like that on anyone ? Why was that post even worth the time it took you to type it ?

Quote:
Originally Posted by rbonner View Post

That's just inappropriate to say about anyone.

Quote:
Originally Posted by melgross View Post

That's not something I like think his competitors would consider.

Quote:
Originally Posted by Onhka View Post

What an idiotic statement.

Quote:
Originally Posted by Smiles77 View Post

That was quite inappropriate. I'd appreciate it if you'd remove it.

Quote:
Originally Posted by sflocal View Post

Your totally inappropriate remark - regardless of who it may refer to - is of such poor taste that you have pretty much validated to many the juvenile that you are.

Steve Jobs is the reason Apple is doing so well.

Other people want Apple's success.

So to reword it for those of you who need it: I wonder how many people hate how brilliant he is (and how much business he's taken from them) to actually wish death upon him.

Get over it.
post #22 of 65
Quote:
Originally Posted by Onhka View Post

You are right. And until it is removed I leave mine unedited. When it is, I will gladly remove my comment as well.

Unfortunately, we cannot call him an idiot.

I'm not removing the comment, and you better re-examine who you want to call an idiot, especially when it's YOU who misinterpreted the comment.

Again, get over it.
post #23 of 65
Quote:
Originally Posted by chronster View Post

Steve Jobs is the reason Apple is doing so well.

Jobs is the reason Apple was able to turn itself around but to suggest that Apple is held up by a single person and that it would fail without him is shortsighted. There are many brilliant people at Apple and most ideas are not coming from Apple. During Jobs' 6 month hiatus last year the company did well on all counts, even their stock went up while many predicted Jobs would not be returning after the operation. Apple has momentum that transcends Jobs. Without him the company will continue to succeed. It's possible that the focus and, as a result, the momentum could slow, but there is no evidence of that so far, yet there is plenty of evidence that Jobs has built up Apple well to succeed long after he is gone, which is the truest sign of good leader.
Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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post #24 of 65
Why is this news. Steve is doing what he needs to do. To the bonehead who made the idiotic statement: Stupid is as stupid does!
post #25 of 65
Wouldn't this be Q2 2010? As in Apple's second fiscal quarter, but the first calendar quarter. Nitpicking I know.
post #26 of 65
Cheap at the price. Go for it. 89% certainly deserves it.

Is it possible that other corporate leaders might learn how to handle executive perks wisely, from Mr. Jobs. Perhaps even Mr. Gates could do something he does so well " copy Mr Jobs ".

HT
post #27 of 65
That's better than $127,000 in medical expenses.
post #28 of 65
That's life in the billionaire club.
post #29 of 65
Where is the context?

Okay so there is a little bit of prior numbers for Jobs alone - but how does that compare to the tech industry average, to CEOs on average, to private Jets on average?

Its like baseball statistics that get quoted during a game by the announcers - this batter has an average of 0.112 against left handed pitchers on away games in the post season on artificial turf. Utterly meaningless without some kind of context. Is that better or worse than his overall average? is that better or worse than the team average or the league average?
post #30 of 65
I am the Director of Flight Safety for a company that operates private jets (Gulfstream IVs). By my calculations, $127,000 is less than 25 hours of flight time. To put this another way, this is about three round-trip coast-to-coast domestic flights over a four month period. Not much!
post #31 of 65
Quote:
Originally Posted by Dr Millmoss View Post

When you consider how much it costs to keep a Gulfstream flying, that's not very much.

I was trying to figure out what that cost is.

http://www.jetsearch.com/attachments/CdD/g-v%20ccd.pdf

About $4700 an hour to operate, $11 per nautical mile. Which varies a lot because fuel is by far the biggest expense.

"The GV is powered by two Rolls-Royce BR710 turbofan engines and is able to travel non-stop for 6,500 nautical miles with speeds up to Mach 0.885."

Nifty.
post #32 of 65
Quote:
Originally Posted by JeffDM View Post

About $4700 an hour to operate, $11 per nautical mile. Which varies a lot because fuel is by far the biggest expense.

$127,000 ÷ $4,700 = 27 hours of flight
$127,000 ÷ $11 = 11,545 nautical miles.

Not that much for 3 months.
Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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post #33 of 65
Quote:
Originally Posted by johno973 View Post

... To the bonehead who made the idiotic statement: Stupid is as stupid does!

Ironically, you are making reference to "Forest Gump," but the statement is the exact kind of blunt honest obvious statement that the Forest character would be likely to make.

Speaking as someone who is continually taken the wrong way on this forum themselves .... blunt and honest are not the same things as "mean" and "insensitive." Sometimes the mean-ness is in the eye of the beholder sort of speak.
post #34 of 65
Quote:
Originally Posted by solipsism View Post

Jobs is the reason Apple was able to turn itself around but to suggest that Apple is held up by a single person and that it would fail without him is shortsighted. There are many brilliant people at Apple and most ideas are not coming from Apple. During Jobs' 6 month hiatus last year the company did well on all counts, even their stock went up while many predicted Jobs would not be returning after the operation. Apple has momentum that transcends Jobs. Without him the company will continue to succeed. It's possible that the focus and, as a result, the momentum could slow, but there is no evidence of that so far, yet there is plenty of evidence that Jobs has built up Apple well to succeed long after he is gone, which is the truest sign of good leader.

We'll see lol

Quote:
Originally Posted by johno973 View Post

Why is this news. Steve is doing what he needs to do. To the bonehead who made the idiotic statement: Stupid is as stupid does!

YEAH, IT WAS AN IDIOTIC STATEMENT! WHAT A BONEHEAD! I'M SURE GLAD I'M NOT THAT MORON, UH HYUCK
post #35 of 65
Can we please get away from discussing the comment about an air crash death? I think we all have better things to do than get angry about it or blow it out of proportion.
post #36 of 65
I still remember when the Apple BOD gave/gifted the G5 to Steve as a year end / new years bonus. Wow ten years... thats amazing. /feel-so-old
Apple Fanboy: Anyone who started liking Apple before I did!
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Apple Fanboy: Anyone who started liking Apple before I did!
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post #37 of 65
His wardrobe and dry cleaning bills...
post #38 of 65
Quote:
Originally Posted by solipsism View Post

$127,000 ÷ $4,700 = 27 hours of flight
$127,000 ÷ $11 = 11,545 nautical miles.

Not that much for 3 months.

I mean this in the kindest way: Threads like this are why normal people make fun of those of us who post on sites like AI.

I tend to agree with Dr. Millmoss. Doesn't sound like a lot of travel to me.

OT: Do you think the jet runs an Apple TV for a media server or a Mini? iPhone docks in the arm rests? 30-pin connector cables drop from above instead of oxygen masks?
Emailing video from iPhone to Apple TV , sort of..
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Emailing video from iPhone to Apple TV , sort of..
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post #39 of 65
Quote:
Originally Posted by JeffDM View Post

I was trying to figure out what that cost is.

http://www.jetsearch.com/attachments/CdD/g-v%20ccd.pdf

About $4700 an hour to operate, $11 per nautical mile. Which varies a lot because fuel is by far the biggest expense..


For a Gulfstream that sits all the time, ownership costs are the most expensive cost item. The fuel costs a small amount compared to the millions in ownership depreciation of a new G-V. But, of course that would not be properly accounted for in the books, because it's inconvenient and makes people sad.
post #40 of 65
Quote:
Originally Posted by walshbj View Post

I mean this in the kindest way: Threads like this are why normal people make fun of those of us who post on sites like AI.

I tend to agree with Dr. Millmoss. Doesn't sound like a lot of travel to me.

What about my post is laughable?
Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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