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

Posted:
in General Discussion edited January 2014
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.
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Comments

  • Reply 1 of 64
    dr millmossdr millmoss Posts: 5,403member
    When you consider how much it costs to keep a Gulfstream flying, that's not very much.
  • Reply 2 of 64
    zindakozindako Posts: 468member
    Doesn't sound too much to me.
  • Reply 3 of 64
    melgrossmelgross Posts: 33,299member
    The higher he flies, the higher Apple's stock flies, so I say?"Fill the tanks, and away!"
  • Reply 4 of 64
    chronsterchronster Posts: 1,894member
    .....
  • Reply 5 of 64
    rbonnerrbonner Posts: 635member
    Not really that much. And to save even more, he stays on our pull out sofa when visiting.
  • Reply 6 of 64
    rbonnerrbonner Posts: 635member
    Post Removed
  • Reply 7 of 64
    melgrossmelgross Posts: 33,299member
    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.
  • Reply 8 of 64
    bugsnwbugsnw Posts: 717member
    Keep those engines roaring if it means more deals. As long as Al Gore isn't on board, the fuel costs will be trivial.
  • Reply 9 of 64
    sflocalsflocal Posts: 5,990member
    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!
  • Reply 10 of 64
    ilogicilogic Posts: 298member
    *snooze
  • Reply 11 of 64
    jwyattjwyatt Posts: 93member
    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 ?
  • Reply 12 of 64
    He'll never catch up with Speaker LaLaPelosi....



    .
  • Reply 13 of 64
    onhkaonhka Posts: 1,025member
    Quote:
    Originally Posted by chronster View Post


    I wonder how many people hope his jet goes down



    What an idiotic statement.
  • Reply 14 of 64
    smiles77smiles77 Posts: 668member
    Fixed
  • Reply 15 of 64
    sflocalsflocal Posts: 5,990member
    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.
  • Reply 16 of 64
    solipsismsolipsism Posts: 25,726member
    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?
    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.
  • Reply 17 of 64
    Why is this any of AI's business and who cares? Traveling about as CEO and doing business is what SJ does.
  • Reply 18 of 64
    onhkaonhka Posts: 1,025member
    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.
  • Reply 19 of 64
    jccjcc Posts: 309member
    That's a couple of round trips to the east coast! He didn't travel that much at all.
  • Reply 20 of 64
    chronsterchronster Posts: 1,894member
    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.
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