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Apple\'s Jobs number two among CEO pay packages

updated 07:45 am EDT, Mon April 12, 2004

Jobs second highest paid

Apple CEO Steve Jobs' instead of a profit in 2003.




by MacNN Staff

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  1. brianhoffer

    Joined: Dec 1969

    0

    Obscene

    It's doesn't matter if he makes great computers. There is no reason that anyone should be getting 74 million dollars when there are homeless and unemployed people in the United States. A mere mortal could live of 1 or 2 million a year just fine. This amount of pay is obscene. It unfair to us as workers and consumers and it should not be tolerated.

  1. haunebu

    Joined: Dec 1969

    0

    Ridiculous

    He offers Apple a handshake - taking only $1 in salary per year (oh how symbolic, Steve!), while reaching around and sticking a dagger in Apple's back with the other hand.

    Steve's compensation should be tied to the company's financial performance - like he gets %X of the company's profit. No profit, no pay.

  1. denim

    Joined: Dec 1969

    0

    Pixar

    How much is he making from Pixar, by the way?

  1. LouZer

    Joined: Dec 1969

    0

    Blows!

    This just blows! How dare Apple let him lose the top spot. This is obscene. We need to get to the next board meeting and demand he get back the top spot....

  1. chabig

    Joined: Dec 1969

    0

    I agree

    Let's get him back to number 1!

  1. driven

    Joined: Dec 1969

    0

    Fairness

    Geez ... give me a break. Everyone's position in life is entirely dependent on the choices that they make. Everytime I hear the whining "it's not fair" I want to puke. Go invent a computer in your garage and form a large corporation. Then you too can have $74 million in stock options. Sheesh .... Why the h*** should he work hard and make money just to go back and feed folks who can't get off their a** enough to make food money. (Oh yeah, there's no "dignity" in working at a filling station ... it's much more dignified to take government handouts.)

    (end of rant)

  1. absmiths

    Joined: Dec 1969

    0

    RE: Fairness

    Let's not forget that Steve Jobs was involved with the invention of the first personal computer - he did not "Invent it." Many other people were involved - Steve more-or-less just held it all together. In my book Wozniak was (is) the real genius of the computer revolution. At any rate, regardless of what he did almost 30 years ago, this salary is a bit excessive - especially when the company is performing marginally.

  1. welborn

    Joined: Dec 1969

    0

    Profit sharing

    In some ways, options and shares are a way for a CEO to profit from the company's profit. If Apple wasn't profitable, Steve's shares would be worthless.

    His $1 in salary (to make sure he can get benefits, et cetera) goes to the company's bottom line. And within the next few years, so will his options or shares. This means he'll get fewer, and his total compensation package is worth less, but it will keep Apple profitable, and he'll be benefiting from that.

    Actually, because of the SEC rule changes, I wouldn't be surprised to see him get a regular salary in the next few years.

    Although, he definitely deserves the shares he receives. The man helped create the company, and sold all his stock off when forced out in '85. He deserves to eventually own a large stake of the company again, since he brought it back from the brink.

    By the way -- I am the most pinko socialist you'll ever find, and I worry about the people starving in the street, too. But what he's receiving isn't real money -- it's stock value, and that doesn't feed anyone.

    I'm just glad Apple isn't one of those companies based in the tropics to avoid taxes.

  1. gorbag

    Joined: Dec 1969

    0

    Fairness

    Well, let's see, if Steve hadn't come back to Apple what would my stock be worth now... And since his pay is highly correlated to performance (and stock price), I think it's just dandy.

  1. the Rebel

    Joined: Dec 1969

    0

    this is wrong

    The story is bogus.

    Steve Jobs did NOT get $75 million profit from stock options last year.

    MacNN saying it is just par for the course, but if the Wall Street Journal actually says that then they have lost all credibility. Both publications should certainly know better.

    Steve Jobs was NOT given ANY stock options in 2003.
    Steve Jobs did NOT exercise ANY stock options in 2003.
    Apple would NOT have had a loss in 2003 even if they had expensed stock options.

    Why does MacNN spread such misinformation?

    Steve Jobs had been given stock options in previous years, but he never exercised any of them. Eventually he gave them all back. The only payments that Steve Jobs has actually profited from have been an outright grant of 5 million shares of stock and a jet. The total value being around $165 million. That is all of the compensation that he has received in the past 6 years.

    I am not saying that $27.5 million a year is not good compensation; it certainly is a heck of a lot better than what most people get paid, but it is NOT even close to being at the top of CEO pay packages.

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