Al Gore Leaves Board. Tim Cook's Pay Dropped 36% After Shareholder Pressure
deadline.com
deadline.com
> Former Vice President Al Gore will be departing from Apple’s board of directors after a 21-year run due to the company’s mandatory retirement age, the tech company said today.
So there doesn’t seem there’s been a disagreement or anything of the sort.
Apple is a private entity; I understand they are publicly traded, but not a govt entity. They can make their own rules for their efficiency
This is pretty common in business, at least in the U.S. Most decent-sized companies understand the risks of associated with a geriatric executive. The fact that our government doesn't understand this is a bit scary.
Maybe 1 in a million outliers can stay razor sharp beyond that, but it's not determinable who falls into that category in advance.
Doubt any of these people are going to want to legislate themselves out of their jobs or the possibility of becoming president.
https://en.m.wikipedia.org/wiki/Convention_to_propose_amendm...
The last time we amended the constitution was 32 years ago, and that was more than 202 years after the amendment was originally proposed and approved by Congress. This amendment effectively does not allow Congress to get a pay raise until their next elected term. Unsurprisingly, when this amendment was brought to the public’s attention in the 1980’s, Congress majorly pushed back about it. But the amendment was gaining popularity publicly and it was ratified by 2/3rds of the states, so congress had no choice but to accept the amendment as valid. This may have been otherwise impossible to pass if congress hadn’t already approved the amendment over 200 years ago in 1789.
Just because Congress should be a certain way, does not in fact make it reality. Congress frequently makes unpopular decisions. And when you have some representatives that have an equal say in the vote that represents a fraction of the number a people of another representative, what the majority of people want doesn’t really matter politically in most cases.
Now you’re right about one thing, if this platform is popular enough, there still might be a possible path forward to achieve a constitutional amendment. But it’s far from a certainty and more likely a long shot at this point. It could take decades or more until the amendment is both approved and ratified, if it’s even politically possible at the moment. It’s not as simple as, if the people want it, they can vote for it; because that is just not the current reality in American politics.
https://apnews.com/article/technology-apple-inc-tim-cook-bus...
What could you do? Fund 63 charities. Buy a small one person condo in New York.
Making money doesn't make you sick. Calling someone sick might.
I find it hard to believe Tim Cook does not sleep. Anyway, it's much easier to work all the time when you're obscenely rich because you can pay people to take your problems away, like cooking dinner or taking the kids to school. Tim Cook doesn't get home late because of a cancelled train and then have to do chores.
>365 days a year
I also find it hard to believe Tim Cook does not take holidays whatsoever.
>has made hundreds of billions in profit
No, the company made hundreds of billions in profit under his direction. It is impossible to know how much better or worse that figure would be with someone else at the helm.
I don't deny that Tim Cook is valuable to Apple, but nobody is irreplaceable. The world is full of intelligent people who could do the same job for a tiny fraction of his salary.
This is why it never makes sense to compare yourself or your worth to others. Everyone knows this, yet we do it all the time. The rat race doesn’t end.
Why isn't this considered illegal age discrimination?
https://uscode.house.gov/statviewer.htm?volume=92&page=189
There’s actually a fascinating bit of history behind this which I learned about on a recent podcast:
https://www.congress.gov/bill/99th-congress/house-bill/4154#....
Because it's based on real risks and limitations associated with advanced age. I remember during the 2008 election when John McCain's age was brought up. There were survey's the showed the voters most concerned about his age were older voters, since they understand the decline that comes with aging firsthand.
Is there a reason TECH companies want old very-likely-tech-illiterate politicians to join their board? Is the only reason to be more cozy with washington?
But more usually, companies want politicians on the board because they have political connections which they can tap to the company’s advantage.
¹ https://en.wikipedia.org/wiki/Environmental_activism_of_Al_G...
Why does the GC make this much? That's 27K billable hours at $1K/hr. Is it because she knows where the bodies are burried?
Probably due to the vast scope of responsibilities and ramifications if something goes wrong?
I can't imagine that being in charge of all of Apple's legal concerns is a walk in the park.
Would $1M/yr at a $10B company make sense, $5M? What about a $100B company? How many of those are there?
Apple is a $1T company. That’s an insane size. Very difficult to easily reason about.
How much per year do you think Elon Musk pays his personal counsel? Bill Gates? You might be surprised…
"General" in the word "General Counsel" doesn't mean it's doing generic daily legal works. It means very similar to the one in "General Manager", which is a common title for SVP in that they're in charge for everything in their area. It's very close to C-suite for the legal department.