Showing posts with label Steve Jobs. Show all posts
Showing posts with label Steve Jobs. Show all posts

Monday, December 31, 2012

Global 2012: Apple CEO gets modest 2012 pay after big 2011


Apple CEO Tim Cook got $4.2 million in pay for the latest fiscal year, a modest sum compared with last year, when the company's board set him up with stock now worth $510 million for taking the reins in 2011.

Cook's pay for fiscal 2012, which ended in September, consisted of $1.4 million in salary, a bonus of $2.8 million, and $17,000 in company contributions to his 401(k) account and life insurance premiums, according to a filing.

Apple Inc.'s board saw no need to give Cook additional shares in 2012 after the sign-on grant of 1 million shares in 2011. Half of those shares vest in 2016 and the other half in 2021. A lot could happen to the value of the shares before Cook can cash them out, but the sign-on grant made him —at least on paper— the highest-paid U.S. CEO in 2011.

Cook did vest into shares worth $140 million in 2012. Those shares were granted earlier, when he was chief operating officer. He had been acting CEO for a while before the death of company co-founder Steve Jobs in October of 2011.

Apple tends to grant shares to executives every other year. Cook's closest cohorts got big grants in 2012, including top hardware engineer Robert Mansfield, who got shares worth $83 million. Chief Financial Officer Peter Oppenheimer and general counsel Bruce Sewell both got stock grants worth just over $66 million, more than double the value of the grants they got two years ago, reflecting the zooming value of Apple's stock.

The Cupertino, Calif.-based company's compensation policies are relatively simple. Missing are many of the perks that other CEOs command, like country club fees and private use of company aircraft.

http://finance.yahoo.com/news/apple-ceo-gets-modest-2012-153531764.html

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Saturday, August 11, 2012

Global 2012: Apple co-founder Wozniak sees trouble in the cloud

FRANKFURT AM MAIN, GERMANY - OCTOBER 06:  A pi...FRANKFURT AM MAIN, GERMANY - OCTOBER 06: A picture in remembrance of Steve Jobs, founder and former CEO of Apple Inc is pictured at an Apple Store, on October 6, 2011 in Frankfurt am Main, Germany. Steve Jobs, 56, passed away after a long battle with pancreatic cancer. Jobs co-founded Apple in 1976 and is credited, along with Steve Wozniak, with marketing the world's first personal computer in addition to the popular iPod, iPhone and iPad. (Image credit: Getty Images via @daylife)Steve Wozniak, who co-founded Apple with the late Steve Jobs, predicted "horrible problems" in the coming years as cloud-based computing takes hold.

Wozniak, 61, was the star turn at the penultimate performance in Washington of "The Agony and the Ecstasy of Steve Jobs," monologist Mike Daisey's controversial two-hour expose of Apple's labor conditions in China.

In a post-performance dialogue with Daisey and audience members, Wozniak held forth on topics as varied as public education (he once did a stint as a school teacher) and reality TV (having appeared on "Dancing with the Stars").

But the engineering wizard behind the progenitor of today's personal computer, the Apple II, was most outspoken on the shift away from hard disks towards uploading data into remote servers, known as cloud computing.

"I really worry about everything going to the cloud," he said. "I think it's going to be horrendous. I think there are going to be a lot of horrible problems in the next five years."

He added: "With the cloud, you don't own anything. You already signed it away" through the legalistic terms of service with a cloud provider that computer users must agree to.

"I want to feel that I own things," Wozniak said. "A lot of people feel, 'Oh, everything is really on my computer,' but I say the more we transfer everything onto the web, onto the cloud, the less we're going to have control over it."

Prior to Saturday at the Woolly Mammoth theater in Washington, Daisey and Wozniak had met once before, in California after a performance of "The Agony and the Ecstasy" in its original version in February 2011.

Wozniak was moved to tears, but a year later Daisey came under fire when it emerged that sections of his one-man show dealing with the Foxconn plant in China where iPhones and iPads are assembled had been fabricated.

Public radio show "This American Life," which had broadcast portions of "The Agony and the Ecstasy," went so far as to issue a retraction. Daisey meanwhile reworked his script, albeit without toning down his powerful delivery.

On the minimalist stage Saturday, seated on plain wooden chairs, Daisey and Wozniak came across as a geek version of Tweedledum and Tweedledee in their baggy black clothes and matching beer bellies.

The bearded, fast-talking Wozniak sported running shoes and a massive wrist watch. In the theater lobby, for Saturday only, one of the very first Apple I computers ever built -- assembled in Jobs' garage -- was on display.

"Everything I designed was purely out of my head, never out of a book," recalled Wozniak, who quit Apple in 1987 after 12 years, taught fifth-graders, hit the lecture circuit and gave away some of his fortune to good causes.

Many in the audience echoed Daisey's concern about Foxconn's work force, but Wozniak said he expected labor conditions in China to evolve as the nation grows richer. He also commended Apple for its oversight of its factories.

"We know we (citizens and consumers) have a voice. We can speak (about labor conditions), but we can't act like, oh, Foxconn is bad or Apple is bad," he said.

Daisey begged to differ: "I hear what you're saying about that fact that everyone goes through an evolution, but it's not as if the evolution was natural in the sense that we are the ones who brought the jobs there."

While Apple designs its products in the United States, all its manufacturing takes place in China -- a sore point in an election year in which unemployment and a long-term exodus of manufacturing jobs overseas have been campaign issues.

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