The Steve Jobs As Chairman, Tim Cook As CEO Topic

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    Posted: 26 August 2011 12:40 PM #106

    Zeke - 26 August 2011 03:13 PM

    ... Where I work we spend half our day in meetings reporting to everybody else what we’re doing.  We spend another 3 hours and 50 minutes complying with auditors and SOX, and trying to navigate the mandated security systems. That leaves about 10 minutes a day to accomplish anything.  I can’t wait to retire.

    Hey, you reminded me the reason why I retired at the age of 44.  Bureaucrats and orifices tired me and made me brain dead.  Your organization is still better than me, mine has secondary duties (mostly admin tasks and QCC) and plenty of training courses (team/organizational building, personal enrichment, quality improvement , management theory and professional) to attend to.  So we know how to talk “big” but couldn’t walk the talk.

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    Posted: 26 August 2011 12:44 PM #107

    Zeke - 26 August 2011 03:13 PM

    Where I work we spend half our day in meetings reporting to everybody else what we’re doing.  We spend another 3 hours and 50 minutes complying with auditors and SOX, and trying to navigate the mandated security systems. That leaves about 10 minutes a day to accomplish anything.  I can’t wait to retire.

    Zeke - I’m in IT and see the same thing.  So many procedures and documents to be filled out and approved that a 5 minute fix takes days to do and wastes hours of many people’s time.  I also can’t wait to retire.  Alas, still have 4-5 more years minimum until I can consider it.

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  • Posted: 26 August 2011 12:56 PM #108

    There’s still a lot of worry that the loss of SJ’s innovative imagination will be damaging. I don’t think that’s a problem; the innovations don’t come out of thin air. SJ’s approach is to think big; to think about how the world should be in the future, with the technology we have available. Then, to find small steps which take us towards the distant goal profitably. Then to implement a step. If a step isn’t profitable, SJ kills it. He never did know exactly how everything would work out; he just kept aware of the distant goals and tried one thing after another, killing anything that didn’t move Apple forward. I think this part of SJ’s legacy will carry on unchanged: innovative products that carry Apple forward, but are killed if they don’t pay for themselves, or if they are no better than what others are producing.

    There are two other things SJ does that may be harder to replicate. The first is simply decisiveness; identifying a need for decision and making the decision quickly (for example to kill a product and take the heat). I think that will be OK too.

    The second is entrepreneurial flair - the ability to construct a scenario that will make others do what you want them to do, even if they don’t want to. A classic example was the music industry.  I presume the basis of the deal with the music majors (full access to the catalogue, sell one song at a time, non-intrusive DRM, most favoured nation status) was set up when iPod was Mac only, firewire only, and the music guys could tell themselves “this is Apple doing market research free for us - what harm can it do trapped in the Mac ghetto - if it works we can just clone it in the real, non-Mac world - who cares about the Mac 5%”. A similar incredible deal with the mobile carriers.

    So this is the only thing I worry a little about: Will Apple without SJ in the driving seat ever again make a whole industry allow itself to be changed?

         
  • Posted: 26 August 2011 01:27 PM #109

    adamthompson3232 - 26 August 2011 04:20 PM

    Sleepy, the next industry I care about is mobile payments and since it barely exists it doesn’t need to be changed much.

    Absolutely, but it will involve stepping on toes at the very least. The “distant goal” is a cashless world where all payments are electronic. In fact that’s one reason for the cash pile: Bank of Apple offering a new payments / financial system parallel to existing systems (as Paypal did).

         
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    Posted: 26 August 2011 01:28 PM #110

    Apple has built and can continue to build a massive empire on those industries it already plays in.

    I will continue to pound the drum that SJ is still Chairman.  Until we hear otherwise things are no different from earlier this year.

    The other thing is, SJ like all CEOs would leave someday.  I have long held that this is one of the “better” transitions that a company can experience, as wrenching as it is. 

    The other other thing is, will we all still be here, investing in AAPL in 2016?  Not necessarily.  Apple the company may be somewhat diminished when SJ ultimately leaves for good, as must we all.  But by then, we will have made enough from AAPL that we may be moving on to other investment strategies where AAPL isn’t such a big player.

    [ Edited: 26 August 2011 02:37 PM by Mav ]

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    Posted: 26 August 2011 02:22 PM #111

    Mav - 26 August 2011 04:28 PM

    I will continue to pound the drum that SJ is still Chairman.  Until we hear otherwise things are no different from earlier this year.

    Hear, hear! TC: “I want you to be confident that Apple is not going to change.”

         
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    Posted: 26 August 2011 03:58 PM #112

    Mav - 26 August 2011 04:28 PM

    ... The other other thing is, will we all still be here, investing in AAPL in 2016?  Not necessarily.  Apple the company may be somewhat diminished when SJ ultimately leaves for good, as must we all.  But by then, we will have made enough from AAPL that we may be moving on to other investment strategies where AAPL isn’t such a big player.

    You’re slow :-x.  SNIPUS# had made his $ and move on to silver and gold, albeit, don’t know whether is too early or not as I don’t know whether he made more than if he stayed in AAPL LEAPS.  I’ve been thinking of moving away from AAPL since 2004* but didn’t do much except taking some $ to buy things I need.

    * Please don’t ask why 2004, you should know rolleyes.

    # capablanca has also moved on a little too.  Eric is no count as he is a trader, always in and out.  I follow their lead and bought a little SLW and SPXU, merely hedging so no count too.

    Btw, what is your enough translate to AAPL price?  $500, $1000, $2000 or higher :bugeyed: ?  My enough is $1000. I love Apple, so by then, would still be holding AAPL but instead of AAPL-only stock portfolio, AAPL would comprise not more than 10%.

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    Posted: 26 August 2011 04:20 PM #113

    Slow?  Mace - so are you.  You’re still in AAPL, right?  We can’t all be bet-the-farm right-place-at-the-right-time traders. 

    I don’t begrudge the success of others.  I invest at my own pace according to my own risk tolerance.  And, it’s NEVER been a safer time, relatively speaking, to buy AAPL.  It has more than enough rocket fuel for continued growth, its books and growth prospects are both ridiculously strong, AND its valuation is damn near laughable - something that’s never been the case in the history of the stock.

    Ask me how I feel when AAPL is over $700.  smile

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
  • Posted: 26 August 2011 06:48 PM #114

    TMZ has posted pics they say is of Steve Jobs taken yesterday.

    He doesn’t look well at all.  Very sad.

    http://www.tmz.com/2011/08/26/steve-jobs-apple-photo-resignation-ceo-sick

         
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    Posted: 26 August 2011 06:50 PM #115

    kevinhernandez - 26 August 2011 09:48 PM

    TMZ has posted pics they say is of Steve Jobs taken yesterday.

    He doesn’t look well at all.  Very sad.

    http://www.tmz.com/2011/08/26/steve-jobs-apple-photo-resignation-ceo-sick

    My God I hope that pic is fake!  Godspeed SJ.

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    Posted: 26 August 2011 07:01 PM #116

    Smart move, Apple.

    New Apple CEO Tim Cook Gets a $383 Million Bonus

    Tim Cook, promoted from Apple?s chief operating officer to chief executive officer this week, gets more than a new title: He also gets a million shares in Apple, doled out in restricted stock units that vest in two 5-year increments. Those shares are worth $383 million at today?s closing price. Last year Apple paid Cook a salary of $800,000 but gave him a $5 million bonus another $52 million worth of stock awards.

    http://allthingsd.com/20110826/new-apple-ceo-tim-cook-gets-a-383-million-bonus/?reflink=ATD_yahoo_ticker

         
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    Posted: 26 August 2011 07:05 PM #117

    This is the succession topic, not the post the tabloid pix of an allegedly dying Steve Jobs being conveniently stood up for a photo op topic.

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
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    Posted: 26 August 2011 07:06 PM #118

    Drew Bear - 26 August 2011 10:01 PM

    Smart move, Apple.

    New Apple CEO Tim Cook Gets a $383 Million Bonus

    Tim Cook, promoted from Apple?s chief operating officer to chief executive officer this week, gets more than a new title: He also gets a million shares in Apple, doled out in restricted stock units that vest in two 5-year increments. Those shares are worth $383 million at today?s closing price. Last year Apple paid Cook a salary of $800,000 but gave him a $5 million bonus another $52 million worth of stock awards.

    http://allthingsd.com/20110826/new-apple-ceo-tim-cook-gets-a-383-million-bonus/?reflink=ATD_yahoo_ticker

    Those are some big golden handcuffs.  As if Tim Cook needed them to stay.  Smart move nonetheless.

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
  • Posted: 26 August 2011 10:57 PM #119

    I know they want to keep a talent like Cook. But this is beyond reason.  Jobs worked for free, and Cook already has an enormous comp, and is not a founder.

    This will tear the exec team apart - imagine the envy of all the other stars that work for Cook who just get a “normal” comp…

    This is a beginning of the end of Apple as we know it…watch the execs leave one by one slowly…

         
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    Posted: 26 August 2011 11:12 PM #120

    As others have pointed out this is a great way to put some golden handcuffs on TC. Congrats to the BOD/SJ for stepping up to the plate. Probably the single best move the BOD has made in years.

    EDIT: That said, I’m more than a little concerned over the issue of the BOD taking more “control” of the company direction. ???  This actually scares the crap out of me and represents the single biggest risk for the future of Apple/aapl.
    http://www.reuters.com/article/2011/08/27/us-apple-governance-idUSTRE77P6K820110827?feedType=RSS&feedName=innovationNews&rpc=43

      cheers to the longs
        JohnG

    [ Edited: 26 August 2011 11:20 PM by johnG ]