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Apple employs 4 of the top 5 highest paid execs in the US

post #1 of 72
Thread Starter 
Four of the top five highest paid executives in the U.S. work at Apple, and none of them are the company's chief executive officer, Tim Cook.

Execs


Apple's Bob Mansfield, Bruce Sewell, Jeff Williams and Peter Oppenheimer were all among the top corporate earners in 2012, according to U.S. Securities and Exchange Commission data cited by Bloomberg on Monday. Most of their pay came from stock-based compensation rather than base salary.

Mansfield was the highest-paid of the group, receiving $85.5 million in 2012. The company's senior vice president of its Technologies group announced last June that he would retire, but Mansfield was eventually convinced to stay at the company.

Reports last year claimed that Mansfield was given an "exorbitant" payout that convinced him to stay with a new two-year deal. At the time it was claimed that Cook "nearly witnessed an insurrection" after Mansfield announced his retirement and his replacement, Dan Riccio, was announced.

After Mansfield, the next highest paid on Apple's team was Sewell, the company's general counsel and senior vice president of Legal and Government Affairs. He earned $69 million in 2012, ranking him third among executives on the S&P 500.

Just behind him with a $68.7 million payday last year was Williams, who serves as the company's senior vice president of Operations. Williams took that position in 2010 after more than a decade with Apple.

Finally, the fifth-highest-paid S&P 500 executive in 2012 was Oppenheimer, who serves as Apple's chief financial officer. He took in $68.6 million in total compensation last year.

The top corporate earner was Larry Ellison, CEO of Oracle, who earned $96.2 million. In contrast, Apple's CEO Cook earned $4.17 million in 2012, following the $378 million restricted stock package he netted in 2011.
post #2 of 72
Good for them.

Social Capitalist, dreamer and wise enough to know I'm never going to grow up anyway... so not trying anymore.

 

http://m.ign.com/articles/2014/07/16/7-high-school-girls-are-kickstarting-their-awa...

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Social Capitalist, dreamer and wise enough to know I'm never going to grow up anyway... so not trying anymore.

 

http://m.ign.com/articles/2014/07/16/7-high-school-girls-are-kickstarting-their-awa...

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post #3 of 72

Happy Income Tax Birthday!  You're looking good for 100...  NOT!

 

Now pay your fair share slackers! lol.gif

/

/

Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

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Ten years ago, we had Steve Jobs, Bob Hope and Johnny Cash.  Today we have no Jobs, no Hope and no Cash.

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post #4 of 72
post #5 of 72

There are blokes making $85m/year? Man I really need to get my act together :)

post #6 of 72
What's the best college to major in CEO? Why was that degree not offered when I spoke to my high school counselor?

2012 27" iMac i7, 2010 27" iMac i7, 2011 Mac Mini i5
iPad Air, iPad Mini Retina, (2) iPhone 5S, iPod Touch 5
Time Capsule 5, (3) AirPort Express 2, (2) Apple TV 3

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2012 27" iMac i7, 2010 27" iMac i7, 2011 Mac Mini i5
iPad Air, iPad Mini Retina, (2) iPhone 5S, iPod Touch 5
Time Capsule 5, (3) AirPort Express 2, (2) Apple TV 3

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post #7 of 72
Quote:
Originally Posted by Andysol View Post

What's the best college to major in CEO? Why was that degree not offered when I spoke to my high school counselor?

I think you want a Stanford or Harvard MBA.

post #8 of 72

"none of them are the company's chief executive officer"

 

Basic grammar, people.  (I know that "none is" sounds weird, but what can you do.  Think of is as "not one" then you'll get it right.)

post #9 of 72
Quote:
Originally Posted by malax View Post

"none of them are the company's chief executive officer"

 

Basic grammar, people.  (I know that "none is" sounds weird, but what can you do.  Think of is as "not one" then you'll get it right.)

Was that a question?

post #10 of 72
Curious to know if all of Apple's executives got similar grants? We only know about the ones they disclosed in their proxy statement, so we have no figures on Schiller, Ive, Cue, Federighi or Riccio. If they all got something similar it would be more like 9 out of 10 highest paid execs. lol.gif
post #11 of 72
Quote:
Originally Posted by Napoleon_PhoneApart View Post

Was that a question?

No. It's a colloquialism.
"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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post #12 of 72

People, most of those compensation are spread over a 10 years period, but for tax purposes, they have to declare the income as this year's. Did anybody honestly believe that Cook gets a 90% salary reduction for this year?

 

Anyway, what do they have to show for the humongous compensation they got? Stock tanked nearly 40% and none of them blinked an eye.

post #13 of 72
Most of it is likely in the form of options and stock grants, probably underwater (as is Ellison's).

That said, I am not not sure that either Sewell or Oppenheimer deserve much of a payday.
post #14 of 72
Originally Posted by zoffdino View Post
Did anybody honestly believe that Cook gets a 90% salary reduction for this year?

 

Is that what was stated publicly? If so, yes, he did. Because you sort of, you know, CAN'T DO IT otherwise.


Anyway, what do they have to show for the humongous compensation they got?

 

The most successful devices and computers of all time, marketshare that just. keeps. increasing., continued chart-topping customer service and satisfaction, and profit out the wazoo.

 

You know, basically the continuation of the most successful string of product releases of any company in human history.


 Stock tanked nearly 40% and none of them blinked an eye.

 

See, that's why Apple is successful and no one else is. This. Couldn't. Be. Any. Less. Significant.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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post #15 of 72
How about hedge fund managers? David Tepper, founder of hedge fund firm Appaloosa Management, made $2.2 billion last year.
post #16 of 72

Just for interest, a list of other salaries at Apple:

 

http://www.businessinsider.com/the-highest-paying-jobs-at-apple-ranked-2012-5?op=1

post #17 of 72
Is it just me or does Bob Mansfield look like Bob Paulson formerly of Project Mayhem?
"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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post #18 of 72
Quote:
Originally Posted by zoffdino View Post

Stock tanked nearly 40% and none of them blinked an eye.

In an ideal world the stock price would reflect the fundamentals of a company, and to the extent it does you can pin it on the execs, but you see there are these people called speculators...

post #19 of 72
Quote:
Originally Posted by ascii View Post

Quote:
Originally Posted by zoffdino View Post

Stock tanked nearly 40% and none of them blinked an eye.
In an ideal world the stock price would reflect the fundamentals of a company, and to the extent it does you can pin it on the execs, but you see there are these people called speculators...

That's not a very persuasive argument. If the stock was selling at $700 (as it was), do you think anyone would seriously begrudge these salaries? Indeed, in that scenario, would you have pinned it on the executives or the stock market?
post #20 of 72
Quote:
Originally Posted by jdnc123 View Post

>>You know, basically the continuation of the most successful string of product releases of any company in human history.


See, that's why Apple is successful and no one else is. This. Couldn't. Be. Any. Less. Significant.>>

All done under the watch of Steve Jobs.  By themselves, none of these executives have anything to show that they can or will be successful in the future, which partly explains why the stock has dropped like it has.  The market has no confidence in any of these overpaid employees and certainly no confidence in Tim Cook.  They were handed the most valuable tech company and most valuable company period in the world and have managed to lose more value than anyone could ever dream.  Yet despite the value of the company at 2yr lows with the market at multi-year highs, none of these executives want to use their own money to buy Apple stock, which is very telling.  Why should investors buy if the company or insiders won't (and don't give me the crap about the 10b buyback to offset options).  Company doesn't think the stock is a good value and has to be a reason.
How clueless can one possibly be? Steve Jobs did not do what he did alone. What he did was build an incredible company with 10's of thousands of employees, an incredible culture of excellence driven by surprising us with incredible products, and a great management team. And fortunately for us all, it is a company not focused on quarterly results, but on delivering an unmatched ecosystem of hardware, software and services that is the envy of the tech industry. Ignorance must be bliss in trolldom.
post #21 of 72
Quote:
Originally Posted by anantksundaram View Post


That's not a very persuasive argument. If the stock was selling at $700 (as it was), do you think anyone would seriously begrudge these salaries? Indeed, in that scenario, would you have pinned it on the executives or the stock market?

I don't know to what extent the $700 price reflected fundamentals vs speculation. I don't think you can tell just from looking at a point in time. Perhaps if you look across time, and it is gradually and regularly growing each year, you would say that's fundamentals, but if it is up and down like a yo-yo you would say that's something else.

post #22 of 72
funny this, my sister (a CFO) was telling me that Investors sometimes ask her why she isn't making a dollar a year like the late Steve Jobs... Which is essentially boils her blood...
so the fact that Apple's CFO is One of the highest-paid executives, should 'shut-up' that (those) Investors. (Of course she can't say that because it is not polite to say so) But any smart investor will not be saying that any more...
post #23 of 72
Originally Posted by jdnc123 View Post

All done under the watch of Steve Jobs.

 

NOPE. Try it again. But first explain how Steve Jobs did this when he was DEAD.


By themselves, none of these executives have anything to show that they can or will be successful in the future…

 

So maybe shut up and go read about why you're completely wrong when you say that. I mean just come OFF it.


The market has no confidence in any of these overpaid employees and certainly no confidence in Tim Cook.

 

Screw the "market". The actual market, you know, the people out there buying the products, certainly seem to think otherwise.


Why should investors buy if the company or insiders won't…

 

Good. Don't buy. Let them go private.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply
post #24 of 72
Quote:
Originally Posted by jdnc123 View Post

$2-3 buck lower from here and IBM will have the crown as the most valuable tech company in the world.
based on what?
post #25 of 72
Quote:
Originally Posted by ascii View Post

I don't know to what extent the $700 price reflected fundamentals vs speculation. I don't think you can tell just from looking at a point in time. Perhaps if you look across time, and it is gradually and regularly growing each year, you would say that's fundamentals, but if it is up and down like a yo-yo you would say that's something else.

Gosh, I don't think it was at all out of line with Apple's fundamentals at that price. On a forward basis, the P/E ratio (ex-cash) was still less than that of the market's! (One can get into a lot more detail, but that's as good an indicator as any).

 

Indeed, the shocking thing is how ridiculously low that number is today -- it is less than that of utilities and beer companies..... for any rational-thinking investor, it is impossible to ignore the fact that it betrays a tremendous lack of confidence in the company's management.

 

The question is not whether it is right or wrong, but it's just what it is.

 

If the market's assessment is wrong (as I totally believe it is), then it is incumbent upon the management -- esp. CFO and CEO -- to come out and convince the market why they think the market is wrong, via their product/market strategies and/ or their financial strategies, e.g., share repurchase.

 

It is inexcusable (to me) that they're coming off as sitting on their hands, or paralyzed, or uncaring -- whether they intend to do so or not.

post #26 of 72
Quote:
Originally Posted by zoffdino View Post

 

Anyway, what do they have to show for the humongous compensation they got? Stock tanked nearly 40% and none of them blinked an eye.

 

One of largest companies in the world making some of the best technology in the world with some of the highest profits in the world. I know, you want more reasons, right? 

post #27 of 72
Quote:
Originally Posted by jdnc123 View Post

>>You know, basically the continuation of the most successful string of product releases of any company in human history.

 

See, that's why Apple is successful and no one else is. This. Couldn't. Be. Any. Less. Significant.>>

 

All done under the watch of Steve Jobs.  By themselves, none of these executives have anything to show that they can or will be successful in the future, which partly explains why the stock has dropped like it has.  The market has no confidence in any of these overpaid employees and certainly no confidence in Tim Cook.  They were handed the most valuable tech company and most valuable company period in the world and have managed to lose more value than anyone could ever dream.  Yet despite the value of the company at 2yr lows with the market at multi-year highs, none of these executives want to use their own money to buy Apple stock, which is very telling.  Why should investors buy if the company or insiders won't (and don't give me the crap about the 10b buyback to offset options).  Company doesn't think the stock is a good value and has to be a reason.

 

Right, because Steve ran every department, every meeting, every everything himself and these guys just stood there saying Yes Steve! 

 

:SIGH: I really wish Apple could go privet so we could stop listening to things that don't matter. If you think every company stock is valued based on the company itself, you have little understanding about the stock market. 

post #28 of 72
Quote:
Originally Posted by Andysol View Post

What's the best college to major in CEO? Why was that degree not offered when I spoke to my high school counselor?

The closest related degree might be MBA, but the choice of school matters less, because most CEOs are either young and self-taught or work up the corporate ladder at an existing firm. They are almost never chosen based on their choice of school, but on their demonstrated abilities (and/or the confidence given to them by the board of directors).

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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post #29 of 72
Quote:
Originally Posted by ascii View Post

I think you want a Stanford or Harvard MBA.

One of the finest CEOs of the past two decades attended some calligraphy classes and dropped acid at Reed College before dropping out. I suggest starting there.

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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post #30 of 72
Originally Posted by jdnc123 View Post

Listen, I've invested billions of dollars for a living on behalf of institutional clients.  I have had years of interactions with CEOs, CFOs, etc from companies across many industries.

 

Funny, then, that you'd ignore everything they've done both before and after Steve's death.


incapable, out of touch and aloof

 

I'm looking at one right now.

 

Originally Posted by jdnc123 View Post

…he can't articulate why Apple is moving so slow on many fronts…

 

That's only because they aren't.


…why they don't want to use the cash for additional acquisitions to stimulate growth…

 

Because acquisitions don't stimulate growth.


All he has to do is show he has an opinion.

 

And all you have to show is why you think you deserve to know it.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply
post #31 of 72
Quote:
Originally Posted by dasanman69 View Post

Is it just me or does Bob Mansfield look like Bob Paulson formerly of Project Mayhem?

The first rule of Project Mayhem is: do not talk about Project Mayhem.

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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post #32 of 72
Quote:
Originally Posted by jdnc123 View Post

Based on EV.  Apple worth 259 billion, IBM worth 256 billion.

 

Apple's market cap is currently a little over $396B.  IBM's cap is about $235B.

post #33 of 72
I'd be very surprised if Jony Ive earned any less than these guys.
post #34 of 72
Originally Posted by jdnc123 View Post
sure, and what does market cap tell you about entire value of a company.  if you think anyone would pay 396b to buy apple the company, i have a bridge to sell you.


Right; they're worth WAY more than just their market cap.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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post #35 of 72
Quote:
Originally Posted by jdnc123 View Post

You forgot, with a stock with one of the lowest valuations in the world, below that of HPQ, DELL, AMD, INTC and more than half the valuation metrics of GOOG.  You are talking about the past.  The market is forward looking and it doesn't like what is sees going forward.

You are correct here, the market doesn't like what it sees "going forward." (This cliché gives you away.)

The market doesn't understand Apple. I would say the market is being stupid, but it may be too much to ask that the market be able to understand Apple.

The same applies to you, since your fundamental erroneous assumption is that the market is right about Apple. I would say that you are being stupid, but it may be too much to ask that you be able to understand Apple.

You say that TC has the personality of a rock. (This cliché also gives you away.) You said in another thread that Apple needs to do what Samsung is doing and shove out a bigger-screened phone. (Another impossible cliché . . . ) You say that Cook needs to map out Apple's future to reassure the market. (Another . . . )

Apple and Cook's job is to concentrate on making their, our, "great products," and not pander to the stupid market. The more stupid the market become, the LESS Cook should be saying to it. The stupidity is beneath contempt, therefore beneath comment, from the stoic, solid man—and company—of character.

Those investors with understanding have patience, and are antcipating how absolutely stupid the impatient and unseeing will be shown to be when the next round of insanely great products arrive. You may see this as a leap of faith, but those using their whole brain see that it's the typical Apple pattern of Zen serenity about their role that is at work. Cook already did his reassuring. All you have to do is listen.
post #36 of 72
Quote:
Originally Posted by tribalogical View Post

I'd be very surprised if Jony Ive earned any less than these guys.
Apparently his compensation isn't required to be reported to the SEC.
post #37 of 72
IMHO... Tim Cook is the best CEO in the industry, and the ONLY logical successor to SJ.

We won't see another SJ probably in our life time... he was that good. Vision. Passion. Disciplined. And most of all, he was able to get the absolute best out of every single person that worked with/for him, beyond even their own dreams, desires or aspirations. Their very own words and posthumous interviews state that very fact.

SJ was a business dictator, a visionary guru, and by all accounts from the people that knew him best, a down-to-earth, pretty cool guy... until you didn't live up to the talent and excellence he saw in you... and expected. "That sucks".

Yesterday I watched the iPad presentation clip on another thread here, for like the umpteenth time. Just amazing: the focus, the clear and concise presentation, the obsession to communicate to every person in that room why the iPad would shake the tech world, and more importantly, "people will love it as soon as they hold it"... truly "magical".

I seriously doubt we'll see any magic, from ANY tech CEO, any Marketeer, or at any product presentation any time soon... or ever again like those from SJ.

And I believe it is for exactly that reason that the financial markets has it's doubts about Apple presently... since fundamentally, there certainly is no other reason for it.

NOTE: just read on the German site CHIP, that Amazon's sales have skidded 40% locally after a damning report of their business practices on our state channel ARD aired a few months ago. The same channel that raked Apple across the coals and needed intervention from a number of major newspapers to set the the record straight, due to the accusations being so blatantly false.

Just an observation and local info for those that care, since AMZN is supposed to be "the more valuable stock" to hold for the future. 1oyvey.gif
Knowing what you are talking about would help you understand why you are so wrong. By "Realistic" - AI Forum Member
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Knowing what you are talking about would help you understand why you are so wrong. By "Realistic" - AI Forum Member
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post #38 of 72

Glad that the anti-capitalism "these salaries aren't fair" crowd haven't pounced on this thread.

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Please update the AppleInsider app to function in landscape mode.

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post #39 of 72
Summary Thought From Above:

I don't think that anyone can deny the fact: that Apple was worth far more with SJ... than without him. 1smoking.gif1hmm.gif
Knowing what you are talking about would help you understand why you are so wrong. By "Realistic" - AI Forum Member
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Knowing what you are talking about would help you understand why you are so wrong. By "Realistic" - AI Forum Member
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post #40 of 72
Quote:
Originally Posted by jdnc123 View Post

I am a partial OWNER of the company.  I deserve to know what Apple's management plans are for the company as much as I do for any other company I own an interest in.

The Gruber Question comes to mind: What is it about Apple that causes people to lose their reason?

First, Tim Cook already told you that the coming product lineup is chock full of great stuff. Second, one reason Apple was so valuable (until people like you lost your reason) is that they keep what they're doing a secret.

See, they want you and their competitors to be surprised, imagine that!

If you own Toyota stock, do you expect them to tell you that they have a new magnetic suspension coming out next year?

Do you want Apple to tell the world what they're working on?

Edit: changed "the reason" to "one reason."
Edited by Flaneur - 4/15/13 at 12:04pm
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