Annual Apple report points to rewards for Jobs, rising expenses

2

Comments

  • Reply 21 of 51
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by iGuess View Post


    So like the original poster I have the same question...how does Steve Jobs get paid?



    Retiarius gave a highly plausible answer regarding stock dividends.
  • Reply 22 of 51
    Quote:
    Originally Posted by solipsism View Post


    Retiarius gave a highly plausible answer regarding stock dividends.



    I agree Retiarius did give a highly plausible answer. I was hoping someone knew for sure. It would be interesting to know.



    Besides the Disney/Pixar merger was a fairly recent development. How did he cover his life expenses before the merger? Was he receiving a substantial salary from Pixar prior to the merger? Is he now receiving a salary from Disney?
  • Reply 23 of 51
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by iGuess View Post


    I agree Retiarius did give a highly plausible answer. I was hoping someone knew for sure. It would be interesting to know.



    Besides the Disney/Pixar merger was a fairly recent development. How did he cover his life expenses before the merger? Was he receiving a substantial salary from Pixar prior to the merger? Is he now receiving a salary from Disney?



    He doesn't work for Disney. He's the largest private or individual shareholder and has a seat on their board. He clearly has other investments. I don't think we'll ever know for sure where the bulk of his day-to-day money comes from.
  • Reply 24 of 51
    asciiascii Posts: 5,936member
    Quote:
    Originally Posted by iGuess View Post


    The man must have a few dollars in his pocket at all time...where does that come from?



    He has a personal fortune which he has had since his early 20s. He is independently wealthy.
  • Reply 25 of 51
    Quote:
    Originally Posted by solipsism View Post


    He doesn't work for Disney. He's the largest private or individual sharehold and has a seat on the board.



    He clearly has other investments. I don't think we'll ever know for sure where the bulk of his day-to-day money comes from.



    Agreed.



    Quote:
    Originally Posted by ascii View Post


    He has a personal fortune which he has had since his early 20s. He is independently wealthy.



    Did this come from Apple's founding? I'm not aware of any of his prior business dealings before founding Apple. Weren't Steve & Steve hobbyists when they started Apple? Was his salary always $1? I read in several places that this was always the case. The article raises an interesting question...has Steve Jobs ever sold Apple stock or has he just held on to the stock he received after coming back to Apple.
  • Reply 26 of 51
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by iGuess View Post


    Did this come from Apple's founding? I'm not aware of any of his prior business dealings before founding Apple. Weren't Steve & Steve hobbyists when they started Apple? Was his salary always $1? I read in several places that this was always the case. The article raises an interesting question...has Steve Jobs ever sold Apple stock or has he just held on to the stock he received after coming back to Apple.



    I can't prove it but I'm sure he's sold Apple stock. In fact I think I read that he sold all his Apple stock when he was outed from Apple in the mid 80s. Which makes sense if you see Apple starting to crumble and you are bitter about be kicked from the company you started.



    The $1 salary only occurred after his return as acting CEO of Apple. Again, I can't prove it.



    Wozniak was the hobbyist, Jobs was the opportunist. They started Apple--a company--to make money. The fact that it was more popular than Jobs expected merely caught him off guard, as I see it.
  • Reply 27 of 51
    jeffdmjeffdm Posts: 12,951member
    Quote:
    Originally Posted by solipsism View Post


    The $1 salary only occurred after his return as acting CEO of Apple. Again, I can't prove it.



    This is true as far as I know, I remember seeing this in a few news articles at the time.
  • Reply 28 of 51
    Quote:

    The regulatory filing with the Securities and Exchange Commission reveals that Jobs received his symbolic $1 salary during fiscal 2007, but also that the company is exploring the possibility of more direct rewards for his increasingly successful leadership role.



    "Because Mr. Jobs's continued leadership is critical to Apple, the Compensation Committee is considering additional compensation arrangements for him," the filing says.



    Jobs also took advantage of a 30,000 share grant provided to him shortly after his return in 1997, but did so only as the expiry date loomed. The surge in Apple's share numbers and stock value since the options were granted a decade ago gave the executive 120,000 new shares worth more than $14.6 million. He remains Apple's second-largest shareholder with more than 5.5 million shares and has never sold any of them, the company says.



    Meanwhile, Jobs' personal but company-funded Gulfstream jet saw more traffic in fiscal 2007. Given to him by Apple in 1999 as a reward for his performance in the first two years of his return, the plane accrued $776,000 in maintenance costs for the period. That number is more than four times larger than the $202,000 in costs occurred during fiscal 2006 but considerably less than the $1.1 million in fiscal 2005.





    As usual, exceptional reporting by AppleInsider. Who said that blogs, fan sites and electronic publications are not to be confused with "real" journalism? I believe that it was Apple in its legal proceedings against several publications in the "Asteroid" project, possibly even some words of wisdom from Steve Jobs himself.



    How much should you compensate the work performed by Steve Jobs and his hand-picked Vice-Presidents for Apple? Is sky the limit? They received nearly $1 billion over the last 2 years. Talk about shareholder apathy.



    Is there a problem when a CEO tells you that $16 millions per year, including medical expenses for his family, is not enough for a high school graduate who won't resign after a 10 year CEO tenure?



    Maybe there is a reason why Apple is doing so poorly in the market. Maybe it's Steve Jobs who is the problem. His high school education just is not enough. And he doesn't know when to leave.



    By the way, I am mindful of Apple stock market valuation and extremely worried when I read that Apple would be more valuable in the stock market than Dell or Hewlett Packard, two companies who sell three times more computers than Apple.



    I also note that Apple doesn't sell computers for the office, 31 years after its creation. Under its current management, how could Apple be anything else than a niche player, a boutique manufacturer for expensive computers that cater to the needs of 5% of the market.



    Once again, is such a poor performance worth $1 billion in compensation over the last two years? Steve Jobs is indeed more of a problem for Apple than its saviour or a true leader.



    When will we see a shareholder revolt? When is the SEC going to lay criminal fraud charges against Steve Jobs for his role in the illegal backdating of stock options over the last 10 years for more than $1 billion in value?



    And $16 millions per year is not enough for such a disaster? I say to Mr. Jobs: Go find employment somewhere else, if you can. And be thankful for being paid $16 millions per year for such poor company results.



    \\\
  • Reply 29 of 51
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by ouragan View Post


    ...

    Maybe there is a reason why Apple is doing so poorly in the market...



    By the way, I am mindful of Apple stock market valuation and extremely worried when I read that Apple would be more valuable in the stock market than Dell or Hewlett Packard, two companies who sell three times more computers than Apple.

    ...



    Poor company results? What the hell are you smoking? My stock shows exceptional growth thanks to Jobs. He can stay right where he is and continue making me a wealth man.



    Those companies have to sell more computers in order to turn a profit because they have chosen to sell cheap, throw-away boxes with little profit due to the competitive market of selling to bottom dwellers. That isn't the market Apple caters to. In the consumer market they own a great deal more than the 5% you give them. I love how asshats bring up the national average of Apple's OS saturation among all computers when talking about hardware sales. They aren't the same. Some of the most desirable items are from companies that cater to the top echelon. You probably scoffed when ou heard Apple was going to open retail outlets. After all, Dell and Gateway failed miserably. Funny that Apple's retail stores have increased Mac sales so dramatically and that per square foot Apple retail stores out sell every other retailer.
  • Reply 30 of 51
    Quote:
    Originally Posted by ouragan View Post


    As usual, exceptional reporting by AppleInsider. Who said that blogs, fan sites and electronic publications are not to be confused with "real" journalism? I believe that it was Apple in its legal proceedings against several publications in the "Asteroid" project, possibly even some words of wisdom from Steve Jobs himself.



    How much should you compensate the work performed by Steve Jobs and his hand-picked Vice-Presidents for Apple? Is sky the limit? They received nearly $1 billion over the last 2 years. Talk about shareholder apathy.



    Is there a problem when a CEO tells you that $16 millions per year, including medical expenses for his family, is not enough for a high school graduate who won't resign after a 10 year CEO tenure?



    Maybe there is a reason why Apple is doing so poorly in the market. Maybe it's Steve Jobs who is the problem. His high school education just is not enough. And he doesn't know when to leave.



    By the way, I am mindful of Apple stock market valuation and extremely worried when I read that Apple would be more valuable in the stock market than Dell or Hewlett Packard, two companies who sell three times more computers than Apple.



    I also note that Apple doesn't sell computers for the office, 31 years after its creation. Under its current management, how could Apple be anything else than a niche player, a boutique manufacturer for expensive computers that cater to the needs of 5% of the market.



    Once again, is such a poor performance worth $1 billion in compensation over the last two years? Steve Jobs is indeed more of a problem for Apple than its saviour or a true leader.



    When will we see a shareholder revolt? When is the SEC going to lay criminal fraud charges against Steve Jobs for his role in the illegal backdating of stock options over the last 10 years for more than $1 billion in value?



    And $16 millions per year is not enough for such a disaster? I say to Mr. Jobs: Go find employment somewhere else, if you can. And be thankful for being paid $16 millions per year for such poor company results.



    \\\



    Apple is my religion and Steve is my holy crusader, You unholy devil worshiper.



    With out Steve there would be no Apple Computer.



    Apple will continue one day in the future with out Steve but he did saved it from death after NEXT.



    Go buy some MS stock you stinking son of satan
  • Reply 31 of 51
    jidojido Posts: 125member
    Quote:
    Originally Posted by ouragan View Post


    \\\



    ???

  • Reply 32 of 51
    Steve is independently wealthy. He made a small fortune in his first tenure at Apple, but lost most of that when he funded NeXT and Pixar with a lot of his own money. He made a salary at Apple the first time around, and he did sell all of his Apple stock (except for one symbolic share) when he was ousted.



    He became a billionaire when Pixar went public. My guess is that he sold some of that stock at some point and invested it wisely. But I don't know that for sure.



    Also, if he is a member of Disney's board, he gets a nice stipend for that. Even without that, though, he doesn't need a salary or divedends to meet what must be rather large personal living expenses. Those black mock turtle neck shirts might look cheap, but they're not coming from Old Navy. And he has a lot of them. The only reason he gets the $1 from Apple is to keep his family medical coverage. Which says a lot about the state of Health Care in our country.



    Where does his "spending" money come from now? Only the IRS knows for sure. But one would imagine he has quite a portfolio of investments in addition to his non-dividend Apple Stock. Real Estate holdings, stocks that do pay, foreign investmens, etc.



    Only middle-class schmucks like us live off our salaries.
  • Reply 33 of 51
    backtomacbacktomac Posts: 4,579member
    Quote:
    Originally Posted by ouragan View Post


    As usual, exceptional reporting by AppleInsider. Who said that blogs, fan sites and electronic publications are not to be confused with "real" journalism? I believe that it was Apple in its legal proceedings against several publications in the "Asteroid" project, possibly even some words of wisdom from Steve Jobs himself.



    How much should you compensate the work performed by Steve Jobs and his hand-picked Vice-Presidents for Apple? Is sky the limit? They received nearly $1 billion over the last 2 years. Talk about shareholder apathy.



    Is there a problem when a CEO tells you that $16 millions per year, including medical expenses for his family, is not enough for a high school graduate who won't resign after a 10 year CEO tenure?



    Maybe there is a reason why Apple is doing so poorly in the market. Maybe it's Steve Jobs who is the problem. His high school education just is not enough. And he doesn't know when to leave.



    By the way, I am mindful of Apple stock market valuation and extremely worried when I read that Apple would be more valuable in the stock market than Dell or Hewlett Packard, two companies who sell three times more computers than Apple.



    I also note that Apple doesn't sell computers for the office, 31 years after its creation. Under its current management, how could Apple be anything else than a niche player, a boutique manufacturer for expensive computers that cater to the needs of 5% of the market.



    Once again, is such a poor performance worth $1 billion in compensation over the last two years? Steve Jobs is indeed more of a problem for Apple than its saviour or a true leader.



    When will we see a shareholder revolt? When is the SEC going to lay criminal fraud charges against Steve Jobs for his role in the illegal backdating of stock options over the last 10 years for more than $1 billion in value?



    And $16 millions per year is not enough for such a disaster? I say to Mr. Jobs: Go find employment somewhere else, if you can. And be thankful for being paid $16 millions per year for such poor company results.



    \\\



    This could be the most moronic post ever. Really.



    If someone has seen one worse please post a link.
  • Reply 34 of 51
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by backtomac View Post


    If someone has seen one worse please post a link.



    Even Dvorak would laugh at the level of misinformation and lunacy of that post.
  • Reply 35 of 51
    Quote:
    Originally Posted by ouragan View Post




    Once again, is such a poor performance worth $1 billion in compensation over the last two years? Steve Jobs is indeed more of a problem for Apple than its saviour or a true leader.







    \\\





    I kinda think this guy is putting us on... You've got to be kidding right? Steve brought Apple back from oblivion in the mid 90's. Apple was on its way to bankruptcy. I refuse to believe that anyone that can operate a keyboard is this ignorant. Do you ever watch CNBC?... from a stock holder's position, pretty much everybody and their brother loves what Apple is doing ... So, I'm gonna take it as a joke... a poorly delivered joke... if you're looking for jokes on Steve Jobs with more tact, check out Fake Steve Jobs' blogspot.
  • Reply 36 of 51
    e1618978e1618978 Posts: 6,075member
    Quote:
    Originally Posted by mrjoec123 View Post


    Steve is independently wealthy. He made a small fortune in his first tenure at Apple, but lost most of that when he funded NeXT and Pixar with a lot of his own money.



    I'm pretty sure he sold NeXT to Apple for $400 million, and I doubt he spent that much founding the company.
  • Reply 37 of 51
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by e1618978 View Post


    I'm pretty sure he sold NeXT to Apple for $400 million, and I doubt he spent that much founding the company.



    I recall reading that the $400M went to the investors and Jobs received an 1.5M shares of Apple for the deal. I don't recall if Jobs was considered one of the investors in the article.



    It's funny how NeXT is considered a failure despite the sale to Apple and the fact that OS X is nothing more than a continuing of NeXTSTEP. Granted it doesn't match the 10M buy for Pixar, its industry leading success and sale to Disney for 7.4B, but what does?
  • Reply 38 of 51
    Quote:
    Originally Posted by backtomac View Post


    This could be the most moronic post ever. Really.



    If someone has seen one worse please post a link.



    I'm sure you could find some posts on SomethingAwful. That is a top-tenner though in my eyes.
  • Reply 39 of 51
    Quote:
    Originally Posted by e1618978 View Post


    I'm pretty sure he sold NeXT to Apple for $400 million, and I doubt he spent that much founding the company.



    Pretty much. His outstanding loans by Perot and Cannon exceeded 200 million. Jobs always maintained a 50% stake so there's your buyout terms.
  • Reply 40 of 51
    Jobs in fact twice sold up his stake in Apple.



    The first time, as has been noted, was after he left/was fired by Scully.



    The second occasion was while Amelio was in charge, and is described here.



    Amelio later claimed in his book that Jobs flat-out lied to him about having done so. It was a fairly clear vote of no-confidence in the man.
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