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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: rhet0ric who wrote (12643)	5/5/1998 10:26:00 AM
From: Travis	Read Replies (1) \| Respond to of 213177

<<Amelio negotiated a huge pay and golden parachute package for himself before taking the CEO job. This is documented in Jim Carlton's book. Now Amelio, as a board member, knew that Apple was in trouble. And, as Carlton tells it, Amelio had them over a barrel because the board basically agreed to give him the job before they had finalized his package; Amelio used this as an opportunity to increase his demands. That goes completely against the spirit of turning around the company.>> I totally thought this too, but I think it's unfair to bash him unless you have his side of the story (I can't believe I am defending gil-i never would have dreamed it just a week ago). Have you read the book? I suggest you do. First of all, just because he took the CEO job at Apple doesn't mean his career has to suffer. Anyone and everyone expects to move UP in career and to make MORE money. That's how it works. If Apple was unable to pay what he was worth or what he negotiated, then they shouldn't have asked him to be CEO. Apple's board is really entirely to blame for any outrageous pay they gave Amelio. Secondly, the board approached Amelio and asked him to take the job. He already had a great position at National Semiconductor and didn't want to leave unless it would be a move up in career. I'd like to point out that CEO's who are traditionally brought in to revive ailing companies are given HUGE salaries and bonuses, far greater than their predecessors. This is because they get paid what they are worth. Even if a company is struggling, if an outrageously paid top-dog CEO turns the company around, then any CEO expense is well worth it. Also, Jim Carlton is a real ass. I've always thought this and gil gives some very interesting stories about how rude he was in the book. Jim Carlton has a way of making even the most wonderful story seem to be a tragedy. Anything he says I take with a grain of salt. FWIW, I am totally disagreeing with you-just giving another perspective. There are always, no matter how small the incident, 2 sides to every story. :) -travis