4 ms·

Government prints money, causes massive asset inflation, then people complain about the dollar value of the massively inflated assets that executives get paid i

by imgabe 5y ago

Government prints money, causes massive asset inflation, then people complain about the dollar value of the massively inflated assets that executives get paid in. Their pay didn't go up, the value of the dollar went down. > Last year, Cook took home $3m in salary, and received $82.3m in stock awards, $12m for hitting targets, and another $1.4m for air travel, retirement plan contributions, insurance premiums and other contributions. That's ~487,328 shares of AAPL at the last closing price. It would have been about $55.8m at last year's valuation. According to the article, his pay last year was $14.8m. Clearly he didn't get as much stock, maybe some vesting, or multi-year earn-out got paid out this year? Raise interest rates and Tim Cook's compensation will plummet. Journalists and politicians need to stop quoting stock values like they're cash. It's incredibly disingenuous. I guess it gets lots of outrage clicks, though.

groby_b 5y ago
Unless you'd like to make the case that we had 600% inflation in the last year, your explanation does not hold up. (Skim the article. He's poised to make 6 times more than last year) But even then, compensation packages are usually specified in dollars, not numbers of shares. And even if that weren't the case, Apple shares only increased 40% over the last year. ~20% since the fall, were compensation packages are usually hammered out. So, no, it's not inflation, as much as you'd like to complain about fiat money.
- imgabe 5y ago
  > Unless you'd like to make the case that we had 600% inflation in the last year, your explanation does not hold up. (Skim the article. He's poised to make 6 times more than last year) Sorry, I edited my comment a few times after posting as I looked up more information and it now addresses this. It doesn't make much sense that he randomly got 6x more than last year. This was probably a stock payout of some multi-year compensation package, combined with inflated stock prices. But little nuances like that get in the way of the "eat the rich" muckraking that places like the Guardian want to push so I imagine they don't spend a lot of time investigating the details.
  - lostlogin 5y ago
    Which publications take on Cook’s pay would you prefer I read?
    - imgabe 5y ago
      If you’re an Apple shareholder or employee I think you should be able to request the details of Tim Cook’s compensation package directly from the company and read what it says for yourself, then you can make up your own opinion about it. I don’t know if that’s actually possible or not but by “should” I mean I think that should be available. If you’re not a shareholder, board member, or employee, then I don’t see what this transaction has to do with you and I don’t understand why you or any publication should feel the need to read or have a “take” on it.
      - hulitu 5y ago
        > If you’re not a shareholder, board member, or employee, then I don’t see what this transaction has to do with you and I don’t understand why you or any publication should feel the need to read or have a “take” on it. It is called entertainment. People like to talk about other people and some are jealous.
jl2718 5y ago
Exactly; the government pumped the stock market. Performance-based compensation is a concept based on monetary base stability. A CEO is demonstrably successful if they are able to allocate resources from their competitors, not from an infinite supply of free money.

by imgabe 5y ago

groby_b 5y ago

Unless you'd like to make the case that we had 600% inflation in the last year, your explanation does not hold up. (Skim the article. He's poised to make 6 times more than last year) But even then, compensation packages are usually specified in dollars, not numbers of shares. And even if that weren't the case, Apple shares only increased 40% over the last year. ~20% since the fall, were compensation packages are usually hammered out. So, no, it's not inflation, as much as you'd like to complain about fiat money.

imgabe 5y ago
> Unless you'd like to make the case that we had 600% inflation in the last year, your explanation does not hold up. (Skim the article. He's poised to make 6 times more than last year) Sorry, I edited my comment a few times after posting as I looked up more information and it now addresses this. It doesn't make much sense that he randomly got 6x more than last year. This was probably a stock payout of some multi-year compensation package, combined with inflated stock prices. But little nuances like that get in the way of the "eat the rich" muckraking that places like the Guardian want to push so I imagine they don't spend a lot of time investigating the details.
- lostlogin 5y ago
  Which publications take on Cook’s pay would you prefer I read?
  - imgabe 5y ago
    If you’re an Apple shareholder or employee I think you should be able to request the details of Tim Cook’s compensation package directly from the company and read what it says for yourself, then you can make up your own opinion about it. I don’t know if that’s actually possible or not but by “should” I mean I think that should be available. If you’re not a shareholder, board member, or employee, then I don’t see what this transaction has to do with you and I don’t understand why you or any publication should feel the need to read or have a “take” on it.
    - hulitu 5y ago
      > If you’re not a shareholder, board member, or employee, then I don’t see what this transaction has to do with you and I don’t understand why you or any publication should feel the need to read or have a “take” on it. It is called entertainment. People like to talk about other people and some are jealous.

jl2718 5y ago

Exactly; the government pumped the stock market. Performance-based compensation is a concept based on monetary base stability. A CEO is demonstrably successful if they are able to allocate resources from their competitors, not from an infinite supply of free money.