“On Monday, Bloomberg posted a story (repeated by more than a dozen newspaper and blogs) claiming that four Apple senior VPs are among the five highest-paid executives in the S&P 500,” Philip Elmer-DeWitt reports for Fortune. “The executives named were Bob Mansfield, Bruce Sewell, Jeffrey Williams and Peter Oppenheimer. ‘Their pay jumped,’ according to Bloomberg, ‘after receiving 150,000 in restricted stock units shortly after Jobs passed away.'”
P.E.D. reports, “No, their ‘pay’ didn’t jump. Their total compensation packages may have, but only if they stay with Apple long enough to collect them. That’s the point of ‘retention’ incentives: they encourage executives to stick around.”
Read more in the full article here.
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Kudos to the journalist that still bothers to confirm amd reconfirm sources and truth!
Yes, getting rarer and rarer.
Just like the followup feedback…
Never thought Bloomberg would resort to this. They are much better and more sane and less sensationalistic than CNBC though.