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I have no idea how this makes any business sense whatsoever. Do they need the best janitor or copy room boy in the industry? They would've been ecstatic with mere 25% raise! Now they have to pay not only $70K, but also more employer portion of FICA and 401k match.
Steve Jobs cut his salary to $1. Apple is not that small.
Lol, Steve jobs was worth billions. That was more a publicity stunt, kinda like this guy. Hey look at me I'm only getting paid a $1 a year. If Steve jobs came back to Apple broke he would have taken full ceo pay package. Im not going to praise the guy in the op for taking a "pay cut". He's probably worth millions dollars. I guarantee him and his family ain't taking a lifestyle cut.
I don't see this being sustainable in the long run. I read that this new structure will eat up 80% of his profit. It's a great idea to make the pay scale more balanced. A lot of companies should do this but will never try.
Well, he's creating excitement for what they do which a CEO is supposed to do. Personally, I think the kid is a genius and in the end will make more money than his big salary. Something like Henry Ford did 100 years ago.
How much are YOU willing to put up to say this will work?
"The average salary previously stood at $48,000 per year".' That means that the wages are going to about double.
If the wages double the output from the workers should double. All sales should double, etc.
Are YOU willing to bet on it?
The output will not double. Not sure about sales. Humans are lazy. This is a flash in the pan. People will be motivated for a while then go back to cruise control. (like a new years resolution to join a gym and then quit after a couple of months).
Steve Jobs cut his salary to $1. Apple is not that small.
Steve Jobs could care less about his salary. All he cares about is Apples stock price. That's how he makes his money (and he makes A LOT of money........)
Steve Jobs could care less about his salary. All he cares about is Apples stock price. That's how he makes his money (and he makes A LOT of money........)
Steve Jobs cut his salary to $1. Apple is not that small.
I can't believe you buy into that... Cutting your salary to $1 while getting more money by stock options REDUCES the taxes that he is paying... I would do the same in heartbeat but the IRS would charge me with tax fraud... luckily Steve Jobs has an army of lawyers to make the IRS scared of doing it...
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