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Disney CEO buys $1M Apple stock after joining board of directors

post #1 of 13
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New Apple board member and Disney CEO Bob Iger has purchased $1 million in Apple stock, according to a new securities filing.

A statement filed with the U.S. Securities Exchange Commission declared that Iger purchased a total of 2,670 shares of Apple on Tuesday, as noted by MacRumors. Iger broke up the purchase into two separate transactions of 1,370 and 1,300 shares each for a total purchase price of just over $1 million.

The filing also noted that Iger's wife owned 75 shares of Apple stock prior to his joining the company's board.

Iger became an Apple director earlier this month as Genentech Chairman Art Levinson became Apple's new Chairman of the Board. As compensation for joining the board, Iger was awarded 142 restricted shares that will vest in February 2012. That amount is comparable to awards granted to other board members when they joined.

Bob and I have gotten to know one another very well over the past few years and on behalf of the entire board, we think he is going to make an extraordinary addition to our already very strong board, CEO Tim Cook said when he joined.



The Disney CEO filled a vacancy on Apple's board left after co-founder Steve Jobs died in October. Iger and Jobs worked closely together because of Jobs' role at Pixar. After Iger brokered a $7.4 billion deal for Disney to purchase Pixar, Jobs became a board member and the largest single shareholder for the media conglomerate.

Shortly after Jobs' death, Iger mourned the loss of a "great friend and trusted advisor." "With his passing the world has lost a rare original, Disney has lost a member of our family, and I have lost a great friend," he said.
post #2 of 13
Whew, glad thats over with. Hope I don't have to buy more, I can't afford it.
An Apple man since 1977
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An Apple man since 1977
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post #3 of 13
Who knows, maybe Iger has designs on becoming the Apple CEO after Cook one day?

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #4 of 13
©lad to see the purchase. If he owns stock he has a reason to make sure Apple succeeds.

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"A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools." Douglas Adams

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post #5 of 13
Quote:
Originally Posted by Realistic View Post

©lad to see the purchase. If he owns stock he has a reason to make sure Apple succeeds.

He was wise, a great time to buy AAPL too!
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From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
Google Motto "You're not the customer. You're the product."
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post #6 of 13
Quote:
Originally Posted by SpamSandwich View Post

Who knows, maybe Iger has designs on becoming the Apple CEO after Cook one day?

Maybe he sees blockbuster products in the pipeline that we don't get to see yet ...
post #7 of 13
Quote:
Originally Posted by SpamSandwich View Post

Who knows, maybe Iger has designs on becoming the Apple CEO after Cook one day?

Tim may actually like stepping back to CFO one day and Bob would be a good choice for CEO IMHO.
From Apple ][ - to new Mac Pro I've used them all.
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From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
Google Motto "You're not the customer. You're the product."
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post #8 of 13
Quote:
Originally Posted by Realistic View Post

©lad to see the purchase. If he owns stock he has a reason to make sure Apple succeeds.

I agree .. but that should be 'continues to succeed' It also shows confidence and probably inside knowledge of products coming. Almost seems unfair (kidding) but it's a good sign to others to get in while to price of AAPL is so low based on the financials
From Apple ][ - to new Mac Pro I've used them all.
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Google Motto "You're not the customer. You're the product."
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From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
Google Motto "You're not the customer. You're the product."
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post #9 of 13
Quote:
Originally Posted by digitalclips View Post

Tim may actually like stepping back to CFO one day and Bob would be a good choice for CEO IMHO.

Uncharacteristically sloppy on your part. Cook was COO - never CFO. And how in the world did you come up with the notion that Tim Cook would actually LIKE stepping back from CEO? He's already proved himself how well he handles the work during Steve Jobs's periods of incapacity. Sorry, but you whiffed on that one.

As to your second thought. Iger can be a great director, but making him CEO would be - as Steve Jobs would have put it - insane. Cook and the rest of the "A" team have achieved a hard-earned culture of success. Can you imagine how disruptive to TEAM morale and loyalty it would be to bring in an outsider over them, no matter how well-liked and respected Iger may be? Might as well bring back Sculley or Armenio.

I admit to being a Fanatical Moderate. I Disdain the Inane. Vyizderzominymororzizazizdenderizorziz?

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I admit to being a Fanatical Moderate. I Disdain the Inane. Vyizderzominymororzizazizdenderizorziz?

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post #10 of 13
Quote:
Originally Posted by digitalclips View Post

Tim may actually like stepping back to CFO one day and Bob would be a good choice for CEO IMHO.

I agree, insofar as he seemed to get along great with Steve. Not having a tech background or having an entrepreneurial mindset could be a 'minus'... but it was interesting to see his first job was as a weatherman!

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Proud AAPL stock owner.

 

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post #11 of 13
Um, am I the only one who thinks that photo looks more like a Pixar rendering of a face than what his actual face probably looks like? I've never seen him in person, but he looks as airbrushed as anyone in Vogue. Most male professionals don't mind looking a bit older (he's 60), so it was just a bit weird to see the vanity touchup.
post #12 of 13
Quote:
Originally Posted by SpamSandwich View Post

I agree, insofar as he seemed to get along great with Steve. Not having a tech background or having an entrepreneurial mindset could be a 'minus'... but it was interesting to see his first job was as a weatherman!

removed
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From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
Google Motto "You're not the customer. You're the product."
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post #13 of 13
Quote:
Originally Posted by Kibitzer View Post

Uncharacteristically sloppy on your part. Cook was COO - never CFO. And how in the world did you come up with the notion that Tim Cook would actually LIKE stepping back from CEO? He's already proved himself how well he handles the work during Steve Jobs's periods of incapacity. Sorry, but you whiffed on that one.

As to your second thought. Iger can be a great director, but making him CEO would be - as Steve Jobs would have put it - insane. Cook and the rest of the "A" team have achieved a hard-earned culture of success. Can you imagine how disruptive to TEAM morale and loyalty it would be to bring in an outsider over them, no matter how well-liked and respected Iger may be? Might as well bring back Sculley or Armenio.

My bad ... I always read CFO... he looks like an accountant to me I guess
From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
Google Motto "You're not the customer. You're the product."
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From Apple ][ - to new Mac Pro I've used them all.
Long on AAPL so biased
Google Motto "You're not the customer. You're the product."
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