Apple hits a new low as Jobs hits a new high
WinInfo | at | by Mike
The master of PR knew that his supposed $1 a year salary would generate good press for Apple Computer, but CEO Steve Jobs has a little trick up his sleeve to make things right financially. As reported previously here in WinInfo, Jobs actually makes tens of millions of dollars a year thanks to overtly generous bonuses, and in mid-2002 those bonuses made him the highest paid CEO in the world. Jobs took home over $43 million in the second quarter of 2002 alone, a time period when the average cash grab by CEOs at America's biggest companies declined 1.9 percent. Not bad for a guy making only $1 a year, and running a company whose market share has consistently sunk under his tutelage. And consider a recent report by Business Week magazine, which named Apple's Board of Directors one of the ten worst in America because of its hefty compensation for a "flailing" CEO, having too many company insiders as board members, and failing to notice or stop abuses that were happening under its nose. Jobs' best friend Larry Ellison, CEO of Oracle, abruptly left his position on Apple's board earlier this week. I wonder if that was coincidental.