Wow

[gmann]

Bloomberg reports that Apple CEO Steve Jobs is the highest paid chief executive in the US, earning $219 million a year. To put that into perspective, the average annual pay for a CEO is $12 million a year. Bloomberg's review looked at total pay from 2000 through 2002 for 243 CEOs running companies with 2002 revenue of $5 billion or more. Data for the study was furnished by Equilar, an independent provider of executive compensation information.  

No wonder my AAPL stock is in the dumper.

[pendragon]

Speaking of share holders, this looms (CA DOCKET NUMBER: 01-CV-3667). At least I think this still looms--

According to a Press Release dated October 16, 2001 a complaint was filed charging Apple and its CEO with violations of the Securities Exchange Act of 1934.

The complaint alleges that on 7/18-19/00, Apple introduced its new Power Mac G4 Dual Processor, G4 Cube and iMac personal computers, representing that they were exceptionally powerful, fast and attractive, coming with exceptionally attractive designs and containing new and revolutionary features. At this time, Apple represented that the development of these new products was completed, they were ready for mass production and would be available in quantity very shortly. Apple claimed this would result in Apple achieving strong revenue and earnings per share ('EPS') growth in its 4thQ F00 (to end 9/30/00) and F01. As a result, Apple's stock climbed to a Class Period high of $64-1/8 in early 9/00, when four top Apple officers sold 370,000 shares of their Apple stock for $22 million.

Suddenly, just 20-25 trading days later, on 9/28/00, Apple shocked investors by revealing a huge 4thQ F00 revenue and EPS shortfall due to very poor sales to its education (K-12) market and poor consumer acceptance of its new personal computer products (some of which had been late to market, had defects and lacked features which were essential for market success), resulting in the accumulation of excessive inventories of finished goods in Apple's distribution channel and Apple having to cancel component part orders and, thereby, incur financial penalties. As rumors of Apple's troubles circulated prior to and then following Apple's shocking disclosure, Apple's stock collapsed from $61-3/64 on 9/20/00 to $25-3/8 on 9/29/00, continuing to fall to as low as $17 and then to $13-5/8, as investors absorbed the full impact of these shocking revelations, a stock decline that wiped out over $10 billion of Apple's market capitalization in just a few days.

Today's close: $20.18 (up 0.48)

Harv

[gmann]

Your dead on Harv. I bought apple on the decline in 2000 at $24 per share plus commish. I have not seen it approach that figure since.

[kelly]

"De Plne. De Plane." Get's old.

http://forums.maccentral.com/wwwthreads/sh...alary/index.php

http://maccentral.macworld.com/news/2003/0.../13/jobssalary/

You should have bought that Gateway stock when you had the chance.

[tacit]

QUOTE(gmann @ Aug 13 2003, 7:37 PM)

Bloomberg reports that Apple CEO Steve Jobs is the highest paid chief executive in the US, earning $219 million a year.

 "Bloomberg reports that Apple CEO Steve Jobs is the highest paid chief executive in the US, earning $219 million a year. To put that into perspective, the average annual pay for a CEO is $12 million a year."

You have to take that with a grain of salt.

Question: When is a CEO's pay not a CEO's pay?

Answer: When it's in the form of stock or bonuses, not a paycheck.

Many CEOs make "only" a few million dollars a year--if you don't include a few hundred million dollars a year in bonuses and stock options. For example, Michael Eisner, the CEO of Disney, earns a "mere" $1 million dollars a year...unless you include the $576 million a year he gets in the form of bonuses and stock options.

When you read articles about how much a CEO makes, sometimes those articles don't include things like stock, so the numbers look a bit weird. But the fact is, there are rather a lot of CEOs making hundreds of millions of dollard a year, if you count all the forms of compensation, including non-salary compensation, they receive.

[Gregg]

I wouldn't know what to do with that much money. But then, that might be a nice problem to have.  

[Xairbusdriver]

Harv,

Are you talking about the 'tentative' settlement agreement that was announced a few weeks ago? It would distribute a few dollars to certain hardware owners, I think. Up to $125 (discounts on Apple products) depending on what you owned and when. One of the lawyers is an 'avid' Mac user.

Seems this was the consumer side if this problem.

As for Jobs pay, wonder what he would get if he drops his temporary status?! On the other hand, how many CEO's have any real permanent status? Most are gone in a few years, it seems.

Jim C.

[pendragon]

Jim, The suit I referred to is not the Class Action case just settled. Rather, it is a suit brought by shareholders asserting that senior Apple officials wrongfully benefited by puffing up the stock and then dumping their shares-much like insider trading.

Harv