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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (53439)	8/27/2011 12:15:02 PM
From: Kirk ©	4 Recommendations Read Replies (2) \| Respond to of 95521

AMAZING theft of shareholder wealth IMHO goes to insiders.... Apple's new CEO gets $384 million bonus New Apple CEO Tim Cook. New Apple ( AAPL) CEO Tim Cook just got one heck of a signing bonus for trying to fill Steve Jobs' shoes. One of the largest awards of its kind, the bonus was quietly unveiled by Apple in a regulatory filing Friday afternoon: 1 million shares of company stock worth a whopping $384 million that vests over 10 years. Apple gave little explanation for the grant, which, according to compensation research firm Equilar, in U.S. corporate history is second in value only to the $600 million grant made 11 years ago to Jobs. A company spokesman declined to comment except to refer a reporter to the news release Apple issued this week when it announced Jobs was stepping down. "Mr. Cook brings to the board extensive executive leadership experience in the technology industry, including the management of worldwide operations, sales, service and support," the release said. Apple has not said what Cook's total compensation will be now that he has formally taken on the top job after serving as acting CEO for the past seven months while Jobs, who stepped down Wednesday, was on medical leave. But news of the generous award left some analysts and compensation experts stunned. ... Given that track record, the award to Cook is "disappointing but not surprising," said Nell Minow, a board member of Governance Metrics International, an independent research firm that focuses on corporate governance and compensation issues. "The Apple board has a consistent record of making bad choices with regard to incentive compensation."The problem with the award is not its size so much as its form, Minow said. Because it comes in the form of restricted shares, there's no downside. Cook didn't have to buy the shares, and even if Apple's stock value declines, the restricted stock will still be worth something and likely a lot. "For me, as an investor, I want to see a CEO who's so bullish on the company that he's willing to invest in it, not be given a present," she said. ..... more at mercurynews.com