Apple execs pull in massive bonuses, Jobs abstains
updated 11:15 am EST, Wed January 23, 2008
Apple executive bonuses
Several of Apple's senior executives took in considerable pay for 2007, SEC filings show. Reuters reports that for example, while Chief Financial Officer Peter Oppenheimer took in a $600,000 salary, and Chief Operating Officer Timothy Cook received $700,000, both received bonuses equal to their regular pay, making for "true" salaries of $1.2 and $1.4 million, respectively. Apple's Compensation Committee is meanwhile considering paying some sort of bonus to CEO Steve Jobs, who has only taken a $1 salary each year since returning to the company in 1997. Most of his income is derived from an approximate 5.5 million shares of stock.
The news may upset some investors and the public at large, as financial results announced yesterday were actually below those expected by analytical firms such as Piper Jaffray and American Technology Research. In recent years, Apple has frequently surpassed the expectations of both researchers and its own traditionally conservative guidance. Jobs defends the company's present state, calling the December quarter Apple's "best quarter ever, with the highest revenue and earnings in Apple's history."
Not true
01/23, 11:43am reply
"as financial results announced yesterday were actually below those expected by analytical firms".
Apple's financial results actually beat analysts expectations. What happened was their next quarter expectations were lower than the analysts. But who cares anyway? Apple ALWAYS beats their own and the analysts "expectations".
ClickSpace
Fresh-Faced Recruit
Joined: Mar 1999
Today's Stock Decline
01/23, 12:10pm reply
Ouch! Stock is down $25 right now so far today. So that's a $137 MILLION loss for Jobs today alone ($385M since the stock hit 200 at the end of December).
TheMacOracle
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Joined: Jul 2003
Mr. Oracle
01/23, 12:11pm reply
You beat me...I had to take a call on my iPhone.
benj
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Joined: Mar 1999
NOT MASSIVE
01/23, 02:57pm reply
Goodness gracious people, these are some of the smallest compensation packages in the industry! A 600,000 bonus is "massive"??? How about the million dollar bonuses made by 28 year old kids on Wall St, and they're analysts and bankers, not EXECUTIVES.
evanlapointe
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Joined: May 2007
Most of us never lost....
01/23, 03:35pm reply
...137 million in a single day - wonder how that feels? Thank goodness he's diversified and his 3.5 billion worth of disney stock has only dropped 32 cents per share today.
psdenno
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Joined: May 2003
evan has it right
01/23, 03:45pm reply
Too many CEOs in todays world rake in tens of millions and then proceed to drive their companys into the ground. Taking our investments with it. They get a golden parachute, we get the cow droppings.
Steve has tons of money and I am sure he does not care about the minor details. He knows where the market is going as Apple releases super product after super product. :-)
Eldernorm
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jet
01/23, 03:59pm reply
The should buy jobs another plane as a thank you. The man has transformed a moribound Apple from 1997.
coldfusion1970
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Joined: Nov 2004