function hide_user_promo_bubble_second_stage() { var bubble = $("user_promo_bubble"); bubble.style.display = "none"; } function hide_user_promo_bubble() { var bubble = $("user_promo_bubble"); var myAnim = new YAHOO.util.Anim(bubble, { opacity: { to: 0 } }, 1, YAHOO.util.Easing.easeOut); myAnim.animate(); setTimeout("hide_user_promo_bubble_second_stage()", 1100); } function handle_promo_username(params) { var bubble = $("user_promo_bubble"); var img = $("user_promo_bubble_image"); var anchor = $("user_promo_bubble_link"); if (params.has_photo == "true") { img.src = "http://images.huffingtonpost.com/profiles/" + params.user_id + "-tiny.png"; } else { img.style.display = "none"; Dom.addClass(anchor, "wide"); } anchor.innerHTML = "Shared by " + params.user_name; anchor.href = "http://www.huffingtonpost.com/social/" + params.user_name; bubble.style.display = "block"; var myAnim = new YAHOO.util.Anim(bubble, { opacity: { to: 1 } }, 2, YAHOO.util.Easing.easeOut); myAnim.animate(); } if (HuffPoUtil.getUrlVar("user_promo")) { YAHOO.util.Event.onDOMReady(function() { var parts = document.location.hash.split(","), shared_by = "", badge = "", i; if (parts.length < 2) return; for (i = 0; i < parts.length; i++) { if (parts[i].indexOf("sb=") !== -1) { shared_by = parts[i]; } if (parts[i].indexOf("b=") !== -1) { badge = parts[i]; } } if (shared_by == "" || badge == "") return; var bubble = $("user_promo_bubble"); if (!bubble) return; var entry_id = HuffPoUtil.GetEntryID(); if (!entry_id) return; var user_id = parseInt(shared_by.substr(shared_by.indexOf("sb=") + 3)); if (!user_id) return; var badge_type = badge.substr(badge.indexOf("b=") + 2); if (!badge_type) return; script = document.createElement("script"); script.setAttribute("type", "text/javascript"); bubble.appendChild(script); script.setAttribute("src", "/include/share_track.php?a=view&eid=" + entry_id + "&uid=" + user_id + "&b=" + badge_type + "&cb=handle_promo_username"); }); } Apple CEO Steve Jobs Takes $1 Salary In 2009

SEATTLE — Apple Inc. Chief Executive Steve Jobs was paid his customary $1 annual salary in 2009, but Apple's strength through a rough economic climate returned the value of his personal holdings in the company to pre-meltdown levels.

Jobs does not get a bonus or reimbursement for perks many other CEOs accept, such as personal security, according to a regulatory filing made Wednesday. Apple said it reimbursed Jobs $4,000 for company travel on his $90 million Gulfstream V jet, which he received as a bonus in 1999.

That's far less than the $871,000 Apple reimbursed Jobs in 2008. The CEO took nearly six months off in 2009 for medical leave, during which time he received a liver transplant. He returned to work at the company's Cupertino, Calif., headquarters part-time at the end of June.

Jobs, 54, holds 5.5 million shares of Apple's stock. He has not sold any shares since he rejoined the company in 1997, nor has he been awarded any new equity since 2003.

In 2008, the value of Jobs' stake in the company he founded was cut in half as investors worried Apple's pricey gadgets might not fare well through the U.S. recession. But shares of the maker of iPods, iPhones and Mac computers gained about 42 percent during the 2009 fiscal year that ended in September, and at the close of trading Wednesday, when Apple's stock reached $202.10, Jobs' holdings were worth about $1.1 billion.

Jobs is also the largest individual shareholder of The Walt Disney Co. His 7.4 percent stake is currently worth about $4.5 billion.

At an annual meeting scheduled for Feb. 25, Apple shareholders will for the first time have a chance to cast an advisory vote on the company's executive compensation plans.

Shareholders have submitted two other proposals to be voted on at the meeting. One calls for a detailed environmental sustainability report, and the other for a board committee devoted to that issue, according to a Securities and Exchange Commission filing Wednesday.

Comments

[RGKahn]

Shouldn't that headline read "Apple CEO Steve Jobs Took $1 Salary In 2009" or "Apple CEO Steve Jobs Takes $1 Salary In 2010".

[mediamarv]

What an amazing coincidence... That's how much I made too!!!

[BocaMom]

This is what Congress should take as a salary, too, in 2010 until they fix the economy and unemployment!

[Trophoto]

Great idea. They should pay for their own health care too.

[ThreeCrows]

How to get a $1.00 a year salary? Now there's an app for that.

[Lisa Earle McLeod]

Jobs is a better deal than United Healthcare's Stephen Hemsley who chokes down $3.2 mil.

Funny thing, my iPhone gave me directions to a party last weekend, but my health insurance company won't take my calls.

[idkalu]

lmao

[Skyhawk]

Okay raise his salary to $2.

[mp3sevdam]

Apple stock was at 80 and now it hit an all time high of 209.
http://trcartuning.blogspot.com/

[Trophoto]

To the naysayers consider this. The storied Wall Street geniuses who got us into the financial crisis made billions and needed us to bail them out. Then they said they need to pay those same poor decision makers billions more to "Keep the talent." Mr. Jobs epitomizes a long term results orientation that is necessary for stable capitalism. If Lloyd Blankfien worked for Apple, Jobs would have fired him years ago along with all the other smoke and mirrors Wall Streeters. U.S. companies need to focus on making things we want and making them well with style and innovation. That is something that Jobs and created at Apple and the entire US economy should look to him to learn a thing to 2.

[SteveEbenedicT]

Those same Wall Street "geniuses" as you put it helped Apple and every other tech company not too mention the World Wide Web to become what they are. Our modern market based economy has created the only true innovation over the last several hundred decades. Not socialism, not communism.

[Trophoto]

tell me how CDOs and credit default swaps built Apple and other companies. It was their innovation alone that built them. Sure they got investment capital from venture capitalist and investment bankers but the geniuses that credit the casino knows as the derivatives market never did anything to help an innovative company like Apple, Oracle, Microsoft of Google. Perhaps you should read some basic economics before spouting off about communism and socialism and for god's sake put down the Ayn Rand and read a real book.

[bsherman]

No CEOs of Fortune 500 companies need to take a salary. It's just a big macho p**sing match to see who can earn the most money. Unfortunately, this absurd competition has serious negative effects to our society. It justifies greater income disparities CEOs of smaller and smaller companies, down to small businesses. It concentrates more of the profits towards top end employees just below the CEOs. Time for all CEOs to follow Jobs' lead.

[Plakias]

I think Steve Jobs should be commended for this attitude. Sure, as a billionaire it's hardly a grand gesture, but it's nice to know that there are some leaders of industry who aren't all about filling up their shoes at every possible moment. If he'd take the whole wage but donate it all to charity, that would be good, too. Society has an obligation to its less-well-off members, and we forget this all too often. Witness how DubLi's helping out America's poorest schoolkids with the Blessings in a Backpack charity. It might not be much for us, but it makes a world of difference for those kids.

[mp3sevdam]

Without getting too technical about the registry, file-level fragmentation, user-specific video settings, and a TON of other issues, Microsoft will NEVER properly copy Apple's model.
http://electroworld.turkceblog.com

[Michael Henry]

Overall Apple is the company to beat and Steve Jobs is the CEO to study of the past 10 years. He has earned every penny he has received.

[statementOfIncensed]

Jobs is making a statement: the growth of his equity is its own reimbursement. This alignment of incentives makes for a more ethical capitalism.

[noblegases]

Steve Jobs gets a salary of $1.00, just as Steve Wozniac so they can be on the company heath insurance.

[RGKahn]

There is a slight difference between Stve Jobs and Steve Wozniac though. The Steve Jobs is the top dog at Apple and the Steve Wozniac is not an employee.

[mytradespa]

good articles; http://iamned111.blogspot.com/