back to article Tim Cook trousers $135m in Apple shares

Apple CEO Tim Cook is $135m richer this week after receiving 1.26 million shares in the electronics giant, immediately selling $36m worth of them. Cooky announced the share provision in an SEC filing [PDF]. It forms part of a deal where he will receive seven million shares in the company by 2021. Most of the shares were …

  1. Anonymous Coward
    Anonymous Coward

    One day the tide will turn...

    "Meanwhile, workers at the Chinese company Pegatron, which produces many of Apple's products, received their own good news last week: a wage cut to $1.60 per hour. "

    Many years ago (1986-1989) when I was at University the foreign (mostly Chinese) students were just as bright as us Brits and undoubtedly on average had a better work ethic than the home grown students.

    I think it will be a case of the west being the cheap labour and the east being the bosses before too long unless overpaid CEOs get their heads from out of their nether regions.

    1. VinceH

      Re: One day the tide will turn...

      "I think it will be a case of the west being the cheap labour and the east being the bosses before too long unless overpaid CEOs get their heads from out of their nether regions."

      I doubt it will come to that - but at the very least, labour as cheap as quoted will (I would hope) eventually become a thing of the past. The problem then, of course, is who pays the difference? The consumers (more expensive products) or the companies (lower margins) - or a combination of both?

      1. Baldy50

        Re: One day the tide will turn...

        Companies view making less profit than the year before as a loss which it clearly isn't and the shareholders always want up not steady.

        If you buy a pair of £8 quid jeans at Primark made in a foreign sweat shop of course or a designer pair with a 1200 % mark up cos some celebrity has endorsed them, don't be surprised that they're made in the same or similar sweat shop and some greedy pigs are laughing their heads off at consumer vanity.

    2. Mark 85

      Re: One day the tide will turn...

      I think it will be a case of the west being the cheap labour and the east being the bosses before too long unless overpaid CEOs get their heads from out of their nether regions.

      The CEO's and shareholders don't give one damn about where the cheap labor is located. If the East rises and west falls, they will still make their money.

    3. Diogenes

      Re: One day the tide will turn...

      There appears to be about a 500 year cycle between east/west dominance/innovation etc etc . We are in the last part of the 500 year west dominance.

    4. Anonymous Coward
      Anonymous Coward

      Re: One day the tide will turn...

      The east will have to learn to adopt the west's attitude of entitlement - this will not come overnight but it works for me.

    5. Captain Dallas

      Re: One day the tide will turn...

      Looks like the trickle down effect so beloved of our leaders in justifying these obscene salaries is in full flow there then.

  2. Anonymous Coward
    Anonymous Coward

    At least he paid his taxes

    $71M in Income Tax is not to be sniffed at. Still a mere drop in the ocean of California's debt.

  3. Anonymous Coward
    Anonymous Coward

    Mmmmm

    "Most of the shares were awarded due to his remaining as CEO for five years "

    Reality check: You stay position a gravy 5 years and get millions. I stay 25 and get laid off because I make 1/1000 as you do.

  4. Iain53

    Grotesque salary differentials

    Somehow, corporate boards are completely blind to just how obscene their compensation packages really are. Cook's salary and bonus package of $10,000,000 annually compared to the factory worker's roughly $5,000. That's based on a sixty hour (no overtime) week, 52 weeks a yea. So our factory worker would have needed to start working around the time Jesus was around to equal one year of Cook's pay.

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