It all has to do with greed in the Corporate environment. Just look what happened last week when all the executives at Apple received their stock options:
Chief Operating Officer Tim Cook, who was recently awarded $17 million in stock options, sold 300,000 shares for $240 per share. Each was worth $72.01 when granted, generating $68.8 million, $32 million of which will be set aside for taxes.
Chief Financial Officer Peter Oppenheimer and Senior Vice President of Retail Ron Johnson each sold 200,000 shares for $46 million, and Senior Vice President of Marketing Phil Schiller sold 150,000 shares for $34.5 million.
Senior Vice Presidents Bertrand Serlet, Robert Mansfield, and Scott Forstall also exercised their options, but only to cover their tax dues.
And that's what most executives in most companies do.
It's pretty much a rule for investing that you do not keep all your money (or even a large percentage) in the company you work for.
Enron and Bethlehem Steel are perfect examples of why NOT to do it.
It all has to do with greed in the Corporate environment. Just look what happened last week when all the executives at Apple received their stock options...
You think that's bad? Check this out about the NY Times:
He can't be that valuable of a CEO if he was only paid a $1 last year.
The assessment is based on the company's financial performance as well as increased shareholder value.
Apple Inc. has performed superbly over the past decade. During this time frame, they released a digital media player that has since dominated the market, built the biggest online store of digital media downloads and downloadable games, deployed a modern scalable operating system (from handheld devices to servers), transitioned their computer product line from PowerPC to Intel, and created an industry-changing smartphone, all at profit margins that exceed their competitors in the respective industries, and consistently posting increased sales even through a down economy.
Steve's salary has nothing to do with the equation. He's already really rich from having sold Pixar to Disney (he's the largest single shareholder). Steve also knows that salary is taxed at a higher rate than capital gains, so he has elected to receive AAPL stock options instead. He also convinced Apple to buy a corporate jet.
Or perhaps you're just joking. It's often difficult to tell on the Internet if you don't use smileys, etc. A lot of non-native English speakers are totally lost on sarcasm, double entendres, dry wit, etc. and we have a fair number of them reading this forum.
...but his personality traits often created negative unintended consequences. But a couple decades later, those same traits turned out to be the 'correct' ones...
It's more like he mellowed out and learned to get along with people better.
Everyone goes through learning curves, even the great ones.
As digitalclips states, this isn't the place for political commentary. This forums does have the AppleOutsider section, which I'm going to start a (hopefully comical) thread about what would the US be like if Steve Jobs were president.
If Steve Jobs was running the country, we'd all be driving Ford Model T's @ $100K/piece
I think you are thinking of the uninventive Bill Gates and Steve Ballmer. If it was Steve Jobs we'd be driving and flying the cars and planes we see in Popular Science as cars and planes of the future.
It's more like he mellowed out and learned to get along with people better.
Everyone goes through learning curves, even the great ones.
Getting booted from Apple and then having to struggle with NeXT because it wasn't allowed to compete in the consumer market did seem to teach Jobs a great many things. It's almost like a Greek mythology is some regards.
I wonder what would have happened to Apple had Steve not been ousted. The company may have driven itself into the ground in another way and/or Jobs may have decided to leave Apple on its own and not have cared to come back. All in all, it seems to have worked out great for him and us.
Or perhaps you're just joking. It's often difficult to tell on the Internet if you don't use smileys, etc. A lot of non-native English speakers are totally lost on sarcasm, double entendres, dry wit, etc. and we have a fair number of them reading this forum.
Getting booted from Apple and then having to struggle with NeXT because it wasn't allowed to compete in the consumer market did seem to teach Jobs a great many things. It's almost like a Greek mythology is some regards.
Steve's salary has nothing to do with the equation. He's already really rich from having sold Pixar to Disney (he's the largest single shareholder). Steve also knows that salary is taxed at a higher rate than capital gains, so he has elected to receive AAPL stock options instead. He also convinced Apple to buy a corporate jet.
A man as rich as Steve Jobs and he's dodging taxes? Gets the company to buy his personal jet?
He must NOT believe in big government, he certainly does his best to avoid paying for it's growth.
Of course though he will give campaign contributions to those who could be buying his products.
Comments
Also, FWIW, Jobs has not made a political contribution in over five years. When he did make them, they were to Democratic candidates, and the DNC.
Not true. He donated $26,700 to the Democratic Congressional Campaign Committee in 2006. So it HAS been a while...but it's been within 4 years. ;-)
Source: Opensecrets.org
The measurement is not based on how much he makes or what his net worth is.
How about $3.4B, #178 on Forbes 2009 @
http://www.forbes.com/lists/2009/10/...Jobs_HEDB.html
just about 1/12th of Apple's cash reserves.
It all has to do with greed in the Corporate environment. Just look what happened last week when all the executives at Apple received their stock options:
Chief Operating Officer Tim Cook, who was recently awarded $17 million in stock options, sold 300,000 shares for $240 per share. Each was worth $72.01 when granted, generating $68.8 million, $32 million of which will be set aside for taxes.
Chief Financial Officer Peter Oppenheimer and Senior Vice President of Retail Ron Johnson each sold 200,000 shares for $46 million, and Senior Vice President of Marketing Phil Schiller sold 150,000 shares for $34.5 million.
Senior Vice Presidents Bertrand Serlet, Robert Mansfield, and Scott Forstall also exercised their options, but only to cover their tax dues.
And that's what most executives in most companies do.
It's pretty much a rule for investing that you do not keep all your money (or even a large percentage) in the company you work for.
Enron and Bethlehem Steel are perfect examples of why NOT to do it.
It all has to do with greed in the Corporate environment. Just look what happened last week when all the executives at Apple received their stock options...
You think that's bad? Check this out about the NY Times:
http://www.boston.com/business/ticke..._protests.html
He can't be that valuable of a CEO if he was only paid a $1 last year.
The assessment is based on the company's financial performance as well as increased shareholder value.
Apple Inc. has performed superbly over the past decade. During this time frame, they released a digital media player that has since dominated the market, built the biggest online store of digital media downloads and downloadable games, deployed a modern scalable operating system (from handheld devices to servers), transitioned their computer product line from PowerPC to Intel, and created an industry-changing smartphone, all at profit margins that exceed their competitors in the respective industries, and consistently posting increased sales even through a down economy.
Steve's salary has nothing to do with the equation. He's already really rich from having sold Pixar to Disney (he's the largest single shareholder). Steve also knows that salary is taxed at a higher rate than capital gains, so he has elected to receive AAPL stock options instead. He also convinced Apple to buy a corporate jet.
Or perhaps you're just joking. It's often difficult to tell on the Internet if you don't use smileys, etc. A lot of non-native English speakers are totally lost on sarcasm, double entendres, dry wit, etc. and we have a fair number of them reading this forum.
icyfog is making a joke, a funny joke at that.
Ah, right. Missed it.
...but his personality traits often created negative unintended consequences. But a couple decades later, those same traits turned out to be the 'correct' ones...
It's more like he mellowed out and learned to get along with people better.
Everyone goes through learning curves, even the great ones.
As digitalclips states, this isn't the place for political commentary. This forums does have the AppleOutsider section, which I'm going to start a (hopefully comical) thread about what would the US be like if Steve Jobs were president.
Has started--really great. Thanks
If Steve Jobs was running the country, we'd all be driving Ford Model T's @ $100K/piece
I think you are thinking of the uninventive Bill Gates and Steve Ballmer. If it was Steve Jobs we'd be driving and flying the cars and planes we see in Popular Science as cars and planes of the future.
It's more like he mellowed out and learned to get along with people better.
Everyone goes through learning curves, even the great ones.
Getting booted from Apple and then having to struggle with NeXT because it wasn't allowed to compete in the consumer market did seem to teach Jobs a great many things. It's almost like a Greek mythology is some regards.
I wonder what would have happened to Apple had Steve not been ousted. The company may have driven itself into the ground in another way and/or Jobs may have decided to leave Apple on its own and not have cared to come back. All in all, it seems to have worked out great for him and us.
Or perhaps you're just joking. It's often difficult to tell on the Internet if you don't use smileys, etc. A lot of non-native English speakers are totally lost on sarcasm, double entendres, dry wit, etc. and we have a fair number of them reading this forum.
.....and so are a lot of native English speakers.
Getting booted from Apple and then having to struggle with NeXT because it wasn't allowed to compete in the consumer market did seem to teach Jobs a great many things. It's almost like a Greek mythology is some regards.
NeXT lives on in OSX.
Steve's salary has nothing to do with the equation. He's already really rich from having sold Pixar to Disney (he's the largest single shareholder). Steve also knows that salary is taxed at a higher rate than capital gains, so he has elected to receive AAPL stock options instead. He also convinced Apple to buy a corporate jet.
A man as rich as Steve Jobs and he's dodging taxes? Gets the company to buy his personal jet?
He must NOT believe in big government, he certainly does his best to avoid paying for it's growth.
Of course though he will give campaign contributions to those who could be buying his products.
That's my Steve!
Not true. He donated $26,700 to the Democratic Congressional Campaign Committee in 2006. So it HAS been a while...but it's been within 4 years. ;-)
Source: Opensecrets.org
Same place I checked and found nothing after 2004. Looks like his wife has been handling political contributions since then.
http://www.opensecrets.org/indivs/se...&submit=Submit
IF Steve Jobs was running the country, we would have cash surplus of 40 trillion!!
If Steve Jobs was running the country, he'd be getting destroyed in the political meat grinder like anyone else insane enough to want the job.
Nobody can argue what Jobs has done for Apple; with a few exceptions (the Google alliance-turned-war comes to mind) why would we want him to go??
Let Steve Ballmer run for president instead.
SCRATCH CONGRESS!
(Insert name) FOR DICTATOR!!
Be careful what you wish for.......
It's nice to see SJ exonerated in a big way.
Good news to his ego.
Be careful what you wish for.......
Very true, only those wish for dictators who have no f. clue about living in regimes.
Steve also knows that salary is taxed at a higher rate than capital gains, so he has elected to receive AAPL stock options instead.
No. He simply told the board he does not want a salary.
His stocks have nothing to do with his compensation for the last 7+ years.
In 2003, he had 27.5 million shares of employee stock and he traded those for 5 million shares of restricted stock.
I don't believe he has received any more stock options for Apple since then.
Good news to his ego.
Very true, only those wish for dictators who have no f. clue about living in regimes.
Right you are!
If Steve Jobs was running the country, we'd all be driving Ford Model T's @ $100K/piece
Do your friends think you're a funny guy? If so, get new friends, cause they're lying to you.