Plenty of people are tut-tutting today about the lavish “transition agreement” outgoing iPod guru Tony Fadell signed in order to spend more time with his young family and act as special adviser to Steve Jobs during the coming year. And surely $300K per year in salary, with stock options worth upwards of $8 million makes the worst economic downturn in 50 years seem like something a 39 year-old guy might survive.
But reports filed with the SEC indicate Apple reimburses Steve Jobs for expenses traveling on the company’s private Gulfstream jet to the tune of 2/3 Fadell’s annual package per quarter, and even that number is well down from the amount the company was spending on the corporate jet just one year ago.
Puts the whole financial crisis thing in perspective, doesn’t it?
30 responses to “Apple Execs Living Large Amidst Our Crumbling Economy”
Steve Jobs has a second life in the Swedish Air Force?! Huh. Weird.
Nice photoshop on the plane, I’ll have to call “fake” on this one. Something about the Swedish Air Force emblazoned on the side doesn’t quite sit right, LOL.
That photoshopping is horrible.
The least you could have done is get rid of the ‘Swedish Air Force’ text or use the old rainbow logo. Either be serious or truly camp it up.
The jet this article is referring to is not the “company’s” jet. The jet belongs to Steve Jobs himself, and Apple reimburses Steve Jobs for the use of his jet.
Remove the phony photo already, sheesh.
One might think there would be more pictures of Steve’s plane available on the internet, but my tight publication deadline on this story didn’t turn them up. If any one has any, please send them in to [email protected] and we’ll be sure to feature them.
Glad to see CoM readers are so discerning…
How does the severance package of one apple Exec and the use of a jet by the Apple CEO equal a sensationalist headline of “Apple Execs Living Large Amidst Our Crumbling Economy”?
Next, Cult Of Mac will attempt to connect the current US Financial situation to poor cellular reception of the iPhone.
Really? Is the goal to make the executives of apple chevette driving comrades? C’mon. The guys are doing something you aren’t – making world class products which others covet.
WOW, took me a whole 2 seconds to find that picture of a gulfstream on page 2 of google images. STUPID article and STUPID author!
Living my life – now retired this had no effect on MY income and did not raise the price on any of the Apple Products I buy ! But I think it is time you edit your authors for fact check and content ! Buy your self some talent!
As far as I’m concerned, Steve isn’t paid enough for all he has done for Apple and Mac users. That’s one CEO that doesn’t receive what he is worth vs bleeding off assets like the financial frauds.
It’s not executive perks per se that annoy me. It’s perks for executives whose leadership have taken their companies to bankruptcy. AFAIK, Jobs has done just the reverse.
They should live large. The guy invented the ipod!!! and Apple got more money than a small country.
Also, If i were Steve Jobs, i would of ask for 10% of the company or i am taking the jet and never coming back…
doesn’t stevie only make $1 a year though?
Its official– “Cult of Mac” is just an apple bashing blog. I had suspicions but now its clear. Also, didn’t realize y’all were leftists.
I suppose somehow it would be more moral if Apple just stayed in the US and didn’t fly around making deals to sell the iPhone in 70+ countries around the world, eh?
As to Fadell’s package, he invented the iPod, he’s leaving, we have no way of knowing the reasons or the terms- this might be a much cheaper solution for Apple than keeping him on.
Its not surprising that people will use any excuse to bash apple (plus when you have made something signficant, you can criticize, until then, doesn’t it reflect poorly on you?)
What is surprising is that wired has sunk so low as to support this. The “Pray” cover was about the time that wired jumped the shark.
So, unlike Wired, which has gone from great to the toilet in the last 14 years, Apple has gone from the toilet to great.
Jealousy, maybe?