You’ve probably seen those headlines about Tim Cook making $378 million in Apple stock last year. Those articles are mostly a bit confused. He was awarded restricted stock, to vest over the next 10 years. Apple is just reporting the whole grant to the SEC in the year it was made.
OK, that seems a bit more reasonable than a $378 million payday, right?
Well, let’s do a thought experiment to see how much Cook actually might make with those 900,000 shares he will receive if he doesn’t get fired or leave before then.
I’m sure Apple’s Board would be happy if Cook kept Apple growing as much as it has the last 10 years. That seems like a good benchmark.
From Fall of 2001 to Fall of 2011), Apple stock increased from about $9 to $378, or 42x.
If Cook is successful and the stock tracks along, then in the Fall of 2021 his stock price will be 42 * $378, and Cook was not given options (where you only make money if the stock goes up) but actual stock, so he makes the full value, or 42 * $378 * 900k.
Per year Cook would make 1.4 billion dollars.
(He only has to do roughly 1/4th as well as the past 10 years to make roughly $378 million per year.)
Sometimes I lose my faith in humanity…
Note how the 8.6 percent unemployment rate in November looks higher than March’s 8.8 percent rate, and about the same as the 9 percent unemployment rate in October.
The US Air Force dumped the cremated, partial remains of at least 274 troops in a landfill before halting the secretive practice in 2008, the Washington Post reported Thursday.
The procedure was never formally authorized or disclosed to senior Pentagon officials, who conducted a review of the cremation policies of Dover Air Base — the main point of entry for US war dead — in 2008, the Post said.
Nor was the dumping ever disclosed to the families of the fallen troops, who had authorized the military to dispose of the remains in a respectful and dignified manner, the Post said, citing Air Force officials.
Honoring the fallen….
Naomi Wolf’s feverish article charging that the crackdowns of occupy locations were being coordinated by federal law enforcement agencies has captured the #OWS collective consciousness.
And, as it turns out, the sole basis for her article — Rick Ellis’s article in Examiner.com — was debunked by Ellis himself nine days before Wolf decided to feed her feverish fact-free article to the frenzied masses.
The Naomi Wolf article in question is the one that was posted here.
[edited to fix link]
WISC-TV, the CBS affiliate in Madison, reports that Grant County, Wisconsin, District Attorney Lisa Riniker, who charged a 6-year-old boy with first-degree sexual assault becaused he played doctor with a 5-year-old girl, has obtained a gag order that prohibits his parents, who have sued Riniker and two other county officials, from talking about the case. Iowa County Judge Bill Dyke issued the order last Monday, forcing the boy’s parents to cancel a planned interview with WISC.
Britain’s jobless young people are being sent to work for supermarkets and budget stores for up to two months for no pay and no guarantee of a job, the Guardian can reveal.
Under the government’s work experience programme young jobseekers are exempted from national minimum wage laws for up to eight weeks and are being offered placements in Tesco, Poundland, Argos, Sainsbury’s and a multitude of other big-name businesses.
The Department for Work and Pensions (DWP) says that if jobseekers "express an interest" in an offer of work experience they must continue to work without pay, after a one-week cooling-off period or face having their benefits docked.
Young people have told the Guardian that they are doing up to 30 hours a week of unpaid labour and have to be available from 9am to 10pm.
Which leaves them no time at all to look for real jobs. But then again, why would any company hire an employee if the government provides them for free?
Anybody want to bet these “apprenticeships” count as employment in government stats? In a few months there will be proud claims unemployment went down despite the economy in the shitter.
Who needs leafy greens and carrots when pizza and french fries will do?
In an effort many 9-year-olds will cheer, Congress wants pizza and french fries to stay on school lunch lines and is fighting the Obama administration’s efforts to take unhealthy foods out of schools.
This time around, food companies that produce frozen pizzas for schools, the salt industry and potato growers requested the changes and lobbied Congress.
Well, it could be worse – the US has a history of calling people who give out free breakfast to kids communist outlaws bent on overthrowing the U.S. government.
Virginia Republicans were in apology mode Monday over a Halloween-themed email that depicted a zombie-like President Obama with what appeared to be a gunshot wound to the head.
The northern Virginia-based Too Conservative blog first flagged the mailer from the local Republicans in Loudon County promoting a local holiday parade. It also offers a ghoulish caricature of House Minority Leader Nancy Pelosi D-San Francisco).
“I am no fan of Barack Obama, but putting up a photo of him as a zombie with a bullet hole in his head?” the blog stated. “Someone should send this to the US Secret Service.”
Our commitment to a balanced approach to drug control is real
No, not really. Because if the rest of the answer to the petition was real, you’d immediately make alcohol and tobacco illegal.
For example, how can you say, with dry eyes, that “marijuana use is a significant source for voluntary drug treatment admissions” and two paragraphs later that “we are improving our criminal justice system to divert non-violent offenders into treatment”
Ever heard of “self-fulfilling prophecies”?
Oh, and read the response to the “Under God” petition as well. So it’s official, whitehouse.gov petitions are nothing but mental masturbation. Pricks pretending to care.
Earlier this week, U.K. tabloids such as The Times and The Daily Mail suggested that London’s Occupy LSX protest was left largely empty at night, and used pictures taken by thermal imaging cameras as evidence. With only one or two ‘hot’ tents glowing in a field of darkness, it looked like the campsite was a fraud.
A visit to the camp already proved it plenty full, but
after renting the same model of camera and shooting the above video, however, activists also proved that tents remain “cold” to the cameras even when occupied. This insulating effect is the purpose of tents, whose heat-reflectivity is marketed by the companies that make them.
Moreover, the footage shows that activity in and around camp is still apparent at night, despite the insulating effect of the material. Presumably, those taking the original thermal images could observe the camp and assess the occupation level with their own eyes, too.
Only in carefully-selected thermal stills would the protest camp appear empty, leaving the impression the reporters must have known the story spun from the thermal images wasn’t true.
Established by Congress to investigate and expose government waste, the Commission on Wartime Contracting in Iraq and Afghanistan has decided to not reveal its volumes of materials to the public for another two decades.
After three years of work, the commission officially shut down last week, having concluded that the U.S. misspent between $31 billion and $60 billion in contracting for services in Iraq and Afghanistan.
But it won’t allow its records to be opened for public review at the National Archives until 2031, because some of the documents contain “sensitive information,” according to one official.
So they know who stole the money, and whoever did it is important enough to get protection..
We’ve seen before that organizations don’t seem to react well to outside security folks pointing out vulnerabilities in their systems. They very often take a “blame the messenger” approach — as if pointing out a flaw suddenly makes that flaw come into existence. But one company seems to be taking it to another level. That Anonymous Coward points us to a story in which a security professional found a big and ridiculously obvious bug in the website of an Australian investment fund, First State Superannuation. Apparently you could see other people’s accounts by merely changing the account numbers in the URL. Increase the number by one, and see the next user in line. This is the kind of extraordinarily basic mistake that I thought had been eradicated a decade ago. Apparently not.
But the company that runs the fund, Pillar, went quite crazy about this. While the company did fix the security hole, it also sent the police to interrogate the security researcher, Patrick Webster. Pillar also sent a letter to customers (pdf) in which it suggests that Webster created this massive security flaw, rather than their own dreadful programming:
It has come to our attention that a member of First State Super, who has online access to their account, devised a way to view an image of your statement.
And then, to add insult to injury, Pillar sent Webster a letter saying he broke the law, they were closing his account, and may seek money from him to fix the vulnerability
STATE Parliament is set to pass new legislation making it a criminal offence to "insult" Gaming Minister Michael O’Brien.
Fines of up to $11,945 will be given to anyone found guilty of upsetting the minister and his staff under the extraordinary new offence.
The Baillieu Government is seeking changes to the Gaming Regulation Act which it says are "reasonably necessary to respect the rights and reputation of the minister and authorised persons". If passed, the ruling will become law.
The amendment proposed to the Act will make it an offence to "assault, obstruct, hinder, threaten, abuse, insult or intimidate" the minister or authorised persons exercising "due diligence" in monitoring gambling systems such as pokies.
State Labor has seized on the extraordinary amendment, with Opposition gaming spokesman Martin Pakula branding the minister "Windscreens O’Brien – because this proves he’s got a glass jaw".
"Is the minister so precious that he now needs legislation to protect him from insults?" he said.
Theresa May, the Home Secretary, risks an explosive rift inside the Coalition with an explicit call for the scrapping of the Human Rights Act.
“I’d personally like to see the Human Rights Act go because I think we have had some problems with it,” she says.
So, I am gravely serious when I write this – if I catch someone not replacing the milk, or at least, in the case where the downstairs store has close already, not sending an email to the office so the first person that arrives (usually Christa or me) can pick one up upon arrival – then I am going to fire you. Im not joking. You will be fired for not replacing the milk, and have fun explaining that one to your next employer. This is not a empty threat so PLEASE don’t test me.
Even after a teen-ager tragically committed suicide in suburban Buffalo this month in the wake of constant harassment, the bullying allegedly did not stop with his death.
The parents of 14-year-old Jamey Rodemeyer, who was found dead at their home on Sept. 18, indicated in an exclusive interview with TODAY’s Ann Curry on Tuesday that their daughter endured further taunts at a school function immediately after Jamey’s wake. At a homecoming dance she attended shortly after her brother’s death, a potentially poignant moment turned ugly after a song by Lady Gaga, Jamey’s favorite artist, who recently dedicated a song at a concert in his memory.
“She was having a great time, and all of a sudden a Lady Gaga song came on, and they all started chanting for Jamey, all of his friends,’’ Jamey’s mother, Tracy, told Curry. “Then the bullies that put him into this situation started chanting, ‘You’re better off dead!’ and ‘We’re glad you’re dead!’ and things like that.
"A substantial number of scientists [have] manipulated data to keep the money rolling in," New Hampshire Union Leader editorial page editor Drew Cline quoted Perry saying on the stump in a tweet. Before that, Cline quoted Perry saying, "I do believe the issue of global warming has been politicized."
Let’s talk about money rolling in, shall we?
Perry has also shown an eagerness to do the bidding of his major supporters. Most notably, his second-biggest all-time donor, Harold Simmons, owns a nuclear waste dump. Perry led the charge in 2010, while Simmons gave hundreds of thousands of dollars to Perry’s re-election campaign, to allow Simmons to import nuclear waste from thirty-eight states. On June 27 of this year, ten days after Perry signed the legislation, Simmons gave $100,000 to Americans for Rick Perry. Tom Smith, director of Public Citizen’s Texas office, estimates that the rule change will bring upward of $2 billion for Simmons. “If you put money in Perry’s purse, he’ll create policies you need,” says Smith.
How’s that for a pot calling a kettle black?
The patriots at Free Republic know a fellow traveler when they see one:
I’ve seen the video based on the Berwick manifesto and I have to agree with almost all of it. I’m starting to read the manifesto and so far, it is dead on.
He was right about the stifling of speech by the MSM. Perhaps that is where we need to direct our efforts. It is my feeling that the MSM is somewhat culpable because they do try to stifle speech. Perhaps this wouldn’t have happened if he felt his voice was being heard seriously, rather than ridiculed.
The thing is that much of the writing in the manifesto is spot on in its analysis of Islam, the threat posed to Western culture and democratic systems of government by multiculturalism and by Marxism and their sympathizers. There is little evidence in the first 800 or so pages that this is guy who would become so radicalized he would shoot up and blow up innocent people.
He strongly defends and argues in favor of the constitutional rights we enjoy in the United States. He rejects Nazism and other “hateful” ideologies. He shows understandable alarm at the loss of freedoms in the name of tolerance. None of these would be foreign to conservative philosophy. You can tell he researched his subject very well and the argument he presents in favor of protecting Western culture is one I would not fault.
On Saturday, an 8-inch pipeline in BP’s Lisburne oil field — near Alaska’s Prudhoe Bay — was being pressure-tested when the pipe burst, releasing crude oil, methanol, and water across a gravel pad and into a small pond. Buildings nearby shook from the force of the rupture, and heavy winds blew the oily mixture across roughly 7,000 square feet of tundra and gravel.
There’s some compelling evidence that this was a preventable spill. A 2010 investigation by ProPublica revealed that 148 sections of BP pipeline in Alaska (including the one that burst) were so corroded that they were in imminent danger of rupture. Internal records showed that these pipelines had worn so thin — in some cases as thin as a few thousandths of an inch — that they should be operated only under reduced pressure. The investigation also found that regular maintenance of BP’s pipelines and facilities throughout Alaska had been neglected for more than a decade, due to a company-wide effort to reduce operating costs.
To the good: they treat hacking as a problem and scandal. To the incredible/bad: they present their (now closed) UK sister publication News of the World as a victim of the hacking problem, rather than as a perpetrator.
Watch, if you can stand to.
The House on Friday overwhelmingly passed a $649 billion defense spending bill that boosts the Pentagon budget by $17 billion and covers the costs of wars in Iraq and Afghanistan.
Scoffing at the suggestion that “everything is on the table” in budget negotiations between the Obama administration and congressional leaders, Frank said, “The military budget is not on the table. The military is at the table, and it is eating everybody else’s lunch.”
That’s right James Verone says he has no medical insurance. He has a growth of some sort on his chest, two ruptured disks and a problem with his left foot. He is 59 years old and with no job and a depleted bank account. He thought jail was the best place he could go for medical care and a roof over his head. Verone is hoping for a three-year sentence.
Only in the USA.
Rick Santorum, former Pennsylvania senator and likely presidential candidate, wants all abortions outlawed. He has even said that abortion providers should be “criminally charged.” Clearly, his compassion for zygotes, fetuses, and other squishy, jelly-like substances not fully alive is without question. When it comes to actual human beings, however, there is some doubt. He voted to cut every social and welfare program that came before him as senator, and not just those helping women and girls, but those helping the poor, immigrants, children in general, and, of course, education.
Mr. Santorum doesn’t hate all people, however. As a Republican, he loves rich people, white people, business people, and Christians. The real Americans, he calls them. There’s one other person he loves, too: his wife, Karen Santorum.
Karen was going to die if her pregnancy was not ended, if the fetus was not removed from her body. So, at 20 weeks, one month before what doctors consider ‘viability’, labor was artificially induced and the infected fetus was delivered. It died shortly thereafter.
“my account was hacked” usually becomes “my account of what happened was hacked to bits on closer inspection”.
Dutifully writing down what government officials say and then publishing it under cover of anonymity is what media figures in D.C. refer to as “real reporting.” But the most hilarious part of this orgy of cowardly anonymity comes at the end, when Politico explains what is supposedly the prime defect in Hersh’ journalism:
Hersh has faced criticism for his heavy reliance on anonymous sources, but New Yorker editor David Remnick has repeatedly said he stands by his reporter’s work.
Rape is often called the ultimate violation of self. A crime of absolute contempt for personal integrity, leaving the women caught in its wreckage to labor under the trauma for years. What reprehensible event could possibly have the same consequences as the spiritual dead zone rape victims are left in?
Well, getting a flat tire, according to Kansas state Rep. Pete DeGraaf.
Meredith Attwell Baker, one of the two Republican Commissioners at the Federal Communications Commission, plans to step down—and right into a top lobbying job at Comcast-NBC.
The news, reported this afternoon by the Wall Street Journal, The Hill, and Politico, comes after the hugely controversial merger of Comcast and NBC earlier this year. At the time, Baker objected to FCC attempts to impose conditions on the deal and argued that the "complex and significant transaction" could "bring exciting benefits to consumers that outweigh potential harms."
Four months after approving the massive transaction, Attwell Baker will take a top DC lobbying job for the new Comcast-NBC entity, according to reports.
The response of groups like Free Press was expected in its anger, but not without merit. "No wonder the public is so nauseated by business as usual in Washington—where the complete capture of government by industry barely raises any eyebrows," said Free Press’ Craig Aaron.
While Rehberg calls himself poor and complains that he’s struggling, the fact is that he is, as of 2009 records, the 14th richest member of the House of Representatives. Opensecrets.org estimates that his average net worth in 2009 was $31 million. If he’s struggling on that, one has to wonder if he’s really a good arbiter of what’s fair for Main Street America.