Time to tie executive salaries to stock performance, right?
According to a newly-posted shareholder document, Apple now requires executive officers to own three times their annual salary. The CEO is still required to hold ten times his own annual salary in stock, as well.
This current move, as reported by the Wall Street Journal, comes a month after Apple’s board actually opposed a similar measure proposed by a shareholder.
Apple Retail stores were the number one retailer last year, taking in more money per square foot than any other US retailer, including number two Tiffany, which made a bit more than half of that. Sounds good, right? Then take a look at what a retail employee, Jordan Golson, has to say.
“I was earning $11.25 an hour,” he said. “Part of me was thinking, ‘This is great. I’m an Apple fan, the store is doing really well.’ But when you look at the amount of money the company is making and then you look at your paycheck, it’s kind of tough.”
The disconnect between the incredible success of the corporation and the relatively low-end pay scale of its retail employees, as well as the reasons those retail employees continue to work for Apple, is the subject of a report in the New York Times today.
Following yesterday’s leaked image of a high-resolution Sharp display purportedly making its way to the iPad 3, an Apple employee has reportedly confirmed the third-generation device will boast a “truly amazing” display and a faster processor.
Mercury News is reporting that Apple is renting thousands of square feet for its employees near Cupertino in Sunnyvale, California. According to Colliers International, Apple is ready to move into the 215,000-square-foot Sunnyvale Research Center.
Located 7 miles from the company’s current headquarters in Cupertino, the four-building complex in Sunnyvale isn’t the only nearby location that Apple is renovating. There are also two more buildings in Sunnyvale that will help temporarily house up to 1,300 corporate employees.
A series of interviews with retail employees conducted by a labor movement website paints a scathing picture of what it’s like to work at the Apple Store: underpaid, demoralized, physically drained and with no way to secure full-time benefits without turning your personal life over to Apple.