Bloomberg: Apple’s Jobs should give back the $85 million

“Apple Computer Inc.’s Steve Jobs should give it up,” Graef Crystal writes for Bloomberg. “What am I talking about?”

Crystal writes, “Some $85 million or so that the chief executive officer collected because of a sleight-of-hand the maker of the iPod music player and Macintosh computers engaged in when it awarded Jobs some mammoth stock option grants. That’s money that should go back to the shareholders.”

“Apple’s well-oiled public relations machine has said that because of ‘irregularities’ in the grants, the options were canceled ‘and resulted in no financial gain to the CEO,” Crystal writes.

Crystal writes, “Nothing could be further from the truth.”

Full article here.

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33 Comments

  1. Jobs should be compensated for what he has done for Apple. The options were not used. He was paid with shares. If the share holders do not like that, they can fire the board. I am a very happy shareholder. I feel Jobs has brought a lot of weath to many shareholders and he deserves some of the wealth.

  2. Microsoft should put Steve Jobs on it’s payroll. Given all that Microsoft has stolen from Apple and all the various Mac OSes, he’s worth a few billion at least.

    Seriously, where would Windows be without the Macintosh?
    DOS prompts, command line bullshit and all!

    The BSOD is the ONLY Microsoft innovation!

  3. Put that one to the shareholders and I think I hear a roar of “thank you” and certainly no cries of “you robbed us”.

    He saved the company and turned it into the most formidable force in computers and consumer electronics at the same time as producing returns for shareholders they could not have dreamed about – even in 2003…

    Silly notion in my opinion. Disregarded.

  4. Graef Crystal is a well regarded compensation specialist, and one of those gadflies who has, quite rightly, blasted the obscene financial packages often granted to America’s CEOs, even for mediocre performance. If any of today’s CEOs deserves to be thanked for what he has accomplished through genuine vision and leadership, it’s Steve Jobs. That said, back-dating options is undeserved, free money from a rigged game. I would hope Steve would do the right thing. Apple can use that money to develop even more “insanely great” products.

  5. Shareholders: “Thanks for raising AAPL by ONE THOUSAND PERCENT” over the last few years. Now give us back the money you made. We know we only pay you $1 salary, and you’ve taken your pay in the form of stock, options, and use of a company jet, but how dare you actually make money from that!.

    Yeah, right.

  6. ==
    I would hope Steve would do the right thing. Apple can use that money to develop even more “insanely great” products.
    ==

    . <- $85,000,000
    ………. ………. ………. ………. ………. ………. ………. ………. ………. …. <- $8,000,000,000 (Cash Apple has, approx.)

    Jobs is worth far more than a paltry 85 million to Apple.

    It probably costs Apple $85,000,000 per quarter for rent/electricity for its retail operations alone. (guessing)

  7. The options have nothing to do with Steve. Leave it to him to decide whether or not he wants to give them back. 85m means nothing to him. Passion for making great stuff is what drives him. This stinks of backoffice admin trying to pick on the pencils the rainmakers are entitled each month. I see that everyday at work.

  8. This has nothing to do with what Jobs is worth and everything to do with abiding by the law and Apple’s image as a company. Likewise, he doesn’t get to evade his taxes just because he is worth a lot to the US economy.

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