At Apple ’s annual shareholders meeting in Cupertino on Thursday , Steve Jobs and other company executives get wind criticism about the ship’s company ’s stock - option scandal and the recently declare delay of of the forthcoming Leopard version of Mac OS X , while Jobs himself dish up out some critique of the environmental radical Greenpeace .
“ Backdating stock options is unfair to shareholder who ca n’t travel back in time and leverage shares at past market low , ” said Brandon Reese , who said he represented the AFL / CIO . Reese then necessitate Jobs to give back the restricted livestock he received for the cancelled option that were improperly dated .
Jobs explained that the Board okay the options Ulysses Simpson Grant in August 2001 . The Cary Grant was in reality price in October 2001 , he said , at a high price than when the Board approve it .
“ I actually got my options at a higher damage , but I did n’t ask the company to recoup me , ” say Jobs .
Reese then enquire Jobs to explain to shareholders what he have it off , and when he knew , about the backdating . Reese advert former Apple CFO Fred Anderson ’s claims that Jobs live about the accounting implication of backdate the options .
Greenpeace and environmental issues
Although many observer previse that shareholders would criticize Apple about its environmental track record due to the ongoing campaign against Apple by the environmental group Greenpeace , that criticism seemed to have mostly been blunted by Jobs ’ essay“A Greener Apple,”which was post on Apple.com on April 4 .
At the meeting , two environmental proposal were crawfish without being voted on . Two representatives from Greenpeace were present at the merging and congratulate Jobs and Apple for the party ’s loyalty to the surround .
However , Jobs had substantial words for Greepeace and the way the governance has chosen to measure the environmental commitment of manufacturing company .
“ I think your organization particularly depends too much on precept and not enough on fact , ” Jobs said to the Greenpeace representatives . “ You guys rate people based on what people say their architectural plan are in the distant future , not what they are doing today . I think you put right smart too much weight on these glorified principle and way too little weight unit on science and engineering science . It would be very helpful if your organization hired a few more engineers and actually embark into dialogue with companies to find out what they are really doing and not just take heed to all the flowery language when in reality most of them are n’t doing anything . That ’s my opinion . ”
chore then give an example of his complaints : In looking for alternating mean value of produce mathematical product without hazardous chemicals , he said , Apple talked to some of the only governing body in the world that could make it befall . Despite the fact other computer makers have claimed they were operate on alternatives , Jobs said Apple was the first computer companionship those organizations had in reality heard from .
Jobs then offered to avail Greenpeace meliorate its evaluate technology , read that while Apple supported the thought of an environmental report batting order , it needed to be a existent reputation calling card based on scientific discipline .
“ Something that dim-witted could go so far in our popular opinion , ” tell Jobs . “ We are not going to set up up a big infrastructure to wage environmental groups . We are real interested in get the piece of work done . ”
Executive pay
When shareholder questioned Jobs about the way Apple compensates its executive compensation , Jobs said that it was his responsibility to plan the compensation for everyone in the company except himself . The chief operating officer — who has an annual salary of $ 1 , althoughForbesmagazine estimated his 2006 recompense at $ 646 million — joked about his own payroll check .
“ It ’s a pretty uncomplicated coming together when it comes to me , ” Jobs said . “ I get 50 cents a year just for show up , and the other 50 cent is based on my performance . ”
The iPhone and Leopard
In a discussion about the outgoing release of the iPhone and the late hold of Mac OS X Leopard , Jobs enounce part of his responsibility at Apple was to make tough conclusion that affect the products the society is working on . Jobs said that while the decision to delay Leopard was not democratic with some hoi polloi , he believe it was the right one to make .
“ Leopard will be worth the hold , ” Jobs forebode .
The Apple CEO also said that his company ca n’t make up for a limited amount of engineering resources simply by throwing money at the trouble . He said that the reason Apple is innovative is because the company is careful in who it hires , and so the mental process of growing the company ’s talent pool can take years .
“ I bid developing great products was as prosperous as write a check , ” Jobs said . “ If so , then Microsoft would have great product . ”
job also pointed out the challenge Apple front when go into the cellular earphone market . He pointed out that in 2006 there were 135 million MP3 players and 200 million personal computer sold . In line , during 2006 one billion cadre phones were sold .
“ We ’re beginners and we have a flock to study , ” said Jobs . “ The market is large and the opportunities are great . A few of us have been using the iPhone a lot and if you wanted it back , you would have to prize it from our stagnant handwriting . ”
job did acknowledge that the society is still clamber to resolve if third - party developer will be able to create software program that will run on the iPhone . It ’s a decision Apple “ is wrestling with , ” harmonize to Jobs .
Miscellaneous questions
Job and other elderly Apple executives also tackle several other questions regarding Apple products during the meeting , among them :
Regarding .Mac , Jobs admitted that Apple ’s suite of on-line service has n’t achieved its full potential , but tell the company was working on it .
When a stockholder asked Jobs for high - definition video content on iTunes and asked if his Apple TV could allow him to rent movies , the CEO smile . “ One never knows , ” he said mysteriously .
A stockholder from Vancouver , British Columbia asked why an Apple Store has not come to his metropolis yet . “ Patience is a virtue and your patience will be reinforce before long , ” said Ron Johnson , Apple ’s Senior Vice President of Retail .
Shareholder praise
Several shareholders took the metre to stand during the get together and congratulate Apple and Jobs on doing a “ antic line ” during the last class .
“ I watched all of those people get up and say so many negative thing , ” said Apple stockholder , Lynda Fudold after the coming together had ended . “ I ’m satisfied with the way that [ Jobs ] handled everything . The people that are still beating the [ options ] drum are derisory . ”
