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Jobs Earns More Than A Buck A Year
The Only Druid writes "Well, though we've all heard about Steve Jobs only being paid $1 per year for being CEO of Apple, it turns out Apple pays him in other ways. He gets $1.2 million for renting the jet to them -- a jet that Apple bought for Jobs."
...is so old news. This kind of thing was in full swing when Howard Hughes was active. Big deal. More power to Steve. Macs are great and it gives me a smile to know that all those wonks that said Apple was dead are oh-so-silent these days.
Microsoft is considering paying dividends on its stock.... that would net Mr. Gate$ a cool $100 Million every year.... For doing NOTHING additional.
Private jets are expensive machines to operate, but they save companies an incredible amount of time. I doubt any of you would say "sure, borrow my jet that costs $15,000/hour to operate and never pay me back, my salary of $1 will cover it".
There are many advantages for Apple to rent instead of own the plane. Think of the insurance premium on a Lear jet.
The yearly operating costs of a jet are way over 1.2 million, so its cheaper for apple to rent it. Since its steve's jet, they still get to use it whenever they want.
If you are unconvinced that it is more effective to rent a jet than own a jet, do a google search on NetJets or Executive Jets.
So, its probably not "steve jobs" who owns the plane, but a company owned by Steve Jobs. And apple rents the plane from that company for a fair price. And I'm sure that Apple doesn't stiff Pixar everytime we have a cool new animated Mac commercial. Nobody seems to be whining about that....
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eBay just bought a Lear Jet back in July.
Lets compare Apple to eBay:
Apple - a world wide company with offices, manufacturers, suppliers, and facilities scattered through out the world.
eBay - A company built from a script a guy wrote to sell Pez dispensers, ie a building with a bunch of servers and programmers.
What advantage does a Lear jet offer to eBay? How often is Meg Whitman traveling to 3 different foreign countries in the same day?
I'm sorry I just can't picture a jet being useful to eBay (so its just a toy), whereas I can picture Apple sending a team of people to check up on operations at several different facilities scattered around the globe.
Basically I'm just jealous, cause I want a jet too dammit!
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blakespot
-- Heisenberg may have slept here.
iPod Hacks.com
I don't know what you're all bitching about. Jobs and Woz started a fucking company before many of you were born, and it turned into a profitable enterprise. So what if Jobs has a fucking jet. Him and Woz built the fucking company. They made a bunch of money on it. Woz made his cash, and moved on to teaching and now Wheels of Zeus. Jobs got outted, and moved on to other things. He too, is now back. I guess you ppl just have nothing better to do at 7 fscking am, other than rant and bitch and cry that someone has a jet, and you DON'T. 'Jobs Earns More Than a A Buck A Year' what fucking moron figured that puzzle out? Of course he earns more than a buck a year. He gets PAID one dollar by Apple to be the CEO. Thats far different from what he earns from stock and other assets or companies. I can see you people hating people because of their actions, but this is just a bunch of little boys waking up to watch saturday morning cartoons, and deciding that if x person has more money in the bank than them, they must be evil, or they did something evil to get that money. Some people put out a fuckign effort, and become successful. Maybe if you spent less time trashing people on slashdot, you would get something worthwhile done.
1.6 million? Steve Jobs is doing an incredable job with a company that probably wouldn't be around today if it wasn't for his renewed CEOship. 1.6 million isn't a whole lot in terms of CEO salery, anyone know how much he makes at Pixar?
- John
Inertia can keep a company going for a long time. In the company I work for, I have seen mistakes that cost the company tens of millions of dollars, made not by people who successfully built the company, but by people who were brought in later. The fact that the company is still around just shows the inertia.
Apple brought in a number of people to try to fix the company, and Amelio nearly ran it into the ground. Scores of analysts had given Apple up for dead. Jesse Berst of Ziff Davis even moronically suggested that Apple should shut down its R&D labs and give the money to start ups. Then Jobs returned, made strong decisions, and today Apple is a different company.
So, I'd say that Jobs earned his money. He is one of the few "rock star" CEOs that has earned the money he made. It's a lot harder to fix a terminally broken company than it is to keep one going.
I would say that the business world is certainly a "what have you done lately". 1997 is receding fast, and Jobs is going to have to continue to lead Apple towards success to be worth that kind of compensation. Now that Apple is healthy, the next benchmark is increased market share. Dell has shown in its quarterly earnings that a company can do well in this economic downturn. It's time for Apple to do the same.
Insert simplistic political, ideological, or personal proselytization here.
Well, at least he's only picking up a dollar. Most CEO's would go fr the expense accounts, limo services, etc, rental of the jet, AND an exorbitant salary.
Be nice. He's saving millions.
I will now redundantly add my name to the end of my post. You know, in case you forgot me or something.
If I use my personal car for company business, I get reimbursed for the mileage. There are a lot of other ways to get reimbursed for personal expense, such as home offices, using personal telephones and computers for example.
If he owns the jet, no matter how he got it, he is entitled to be compensated for any business use of it.