NEWS > BUSINESS > APPLE STILL REFUSING TO PAY STEVE JOBS
APPLE STILL REFUSING TO PAY STEVE JOBS
December 11 2010
Cupertino, CA – Often CEO’s are nameless, faceless entities that run the day-to-day functions of a business. Though we may shop in their stores or buy their cars, we generally have no idea who is behind the scenes and for the most part could really
care less. Occasionally that is different, occasionally CEO’s are not just the face of company but in many ways are the company itself. Certain businesses simply could not exist without the input of their leaders because they are more than just leaders, they are innovators.
It could be argued that no company in recent times that idea is truer than it is of Apple and Steve Jobs. Like the steel and shipping magnates of the past, Jobs’ contribution to his company is the essence of their business. He started the company, and he led the reinvention of it after years of hardship not simply through leadership but also through his ideas. The iPod and iPad weren’t simply things that Jobs approved, they were things he invented and helped develop. Without Jobs, it’s very likely there wouldn’t be an Apple, which makes it even more confusing to learn that the company has refused to pay him for his decades of service even though it’s a paltry sum of a little under $38.00.
“It’s kind of an awkward and complicated situation but things are kind of at a standstill. It would seem like nothing for Jobs to just go and pull this little bit of money from the bank account, I mean he is the boss after all, but it’s a little more complicated than that. There are tax issues and legal issues and that isn’t something that a person can do, even him,” said an Apple insider. “I’m really not sure what the hang up is. Steve could use the money and Apple can do without it so it seems like the two parties could come to an amenable solution but that simply isn’t happening and it’s starting to cause a lot of friction.”
Jobs does hold a number of stocks with the company which allows him to survive.
“The funny thing about this is he is also owed money from a number of other companies for which he serves on the board of directors. We aren’t talking about huge numbers here, like twenty bucks from IBM and twenty cents from Time Warner, but it’s all money that he should have and doesn’t,” continued the insider. “Every cent counts in this economy and he could probably use that cash. There must be something in his contract, something in the way he structured things that is preventing him from getting paid. I guess the young Steve Jobs should have done a little more research on how to work contract negotiations. In this case it almost seems like he screwed himself in the deal and I’ve never heard of that happening before.”
Job’s net worth is estimated at a little over $6 billion but most of that is held in stock.
“You can certainly name talents with which companies would fall apart – names like Gates, Branson, and Dell are all in that conversation – but none of them has the kind of hands-on interaction with their company like Jobs. They don’t go into the design studios and actually facilitate design, they don’t unilaterally decide direction like Jobs. He is core to the business and it seems strange that they would put him off like this,” said Scrape TV Technology analyst Ken Kevins. “It really is a small amount of money but it’s also the principle of the thing. He has made this money for the company and they are nickel and diming him on this paltry sum. That’s a great deal of disrespect and should anger his supporters as much as I’m sure it does him. They should really make this right.”
Neither Jobs or Apple had any comment.
Martin Philton, Technology Correspondent