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Seeks to Boost Bonuses
2005BonusforSteveJobsApple Seeks to Boost
Computer Inc., whose stock has more than tripled in
the last year on sales of its iPod music players,
said it wanted to boost cash awards to its founder,
Steve Jobs and other top managers because its
executive pay wasn't competitive, according to a
regulatory filing Tuesday.
Executive Steve Jobs, 50, received $1 in salary and
no bonus or restricted stock for the year ended
Sept. 25, Apple said in the filing with the
Securities and Exchange Commission. In the
year-earlier period, he got a $1 salary and $74.8
million in restricted stock, which replaced options
that were no longer profitable. Those shares vest
in March 2006.
co-founded by Jobs in 1976, wants to boost cash
bonuses because executives at rival companies are
paid better, according to a study it commissioned.
The bonuses might make it easier for Apple to hang
on to executives while competitors such as Dell
Corp. and Sony Corp. try to copy the success of the
iPod digital music player.
The Company in
2004 boosted restricted stock awards, which vest in
two stages over four years. Restricted shares worth
a total of $25.5 million were paid to four top
executives who received none in the previous year.
They are Timothy Cook, executive vice president of
worldwide sales and operations; iPod Vice President
Jonathan Rubenstein; Johnson; and Tevanian.
option and restricted share grants were infrequent
and didn't make up for the disparity in cash pay
between Apple executives and their peers at other
companies, according to Apple's pay study, which
was included in the SEC filing.
spokesman Steve Dowling didn't immediately return a
call seeking comment.
owns 10 million Apple shares, or about a 1.2%
stake, has been paid a $1 salary since he returned
to the company in 1997; he also owns 52% of Pixar,
worth $2.73 billion.
Page / TIMELINE
STEVE PAUL JOBS
Born. Steve Paul Jobs
was born on February 24, Los Altos CA; He was
raised by adoptive parents Paul and Clara in
Mountain View and, later in Los Altos, California.
His father was a machinist at Spectra-Physics, and
his "early interest in machines was inspired by his
father's work" (Notable).
- At age 13 Jobs met, William Hewlett who
offered him a summer job at the Hewlett-Packard
plant. It was there, when Jobs was 13, that he met
the man with whom he would invent "the first
ready-made personal computer"--
- going to work for Atari after leaving Reed
College, Jobs renewed his friendship with Steve
Wozniak. The two designed computer games for Atari
and a telephone "blue box", getting much of their
impetus from the Homebrew Computer Club. Beginning
work in the Job's family garage they managed to
make their first "killing" when the Byte Shop in
Mountain View bought their first fifty fully
assembled computers. On this basis the Apple
Corporation was founded, the name based on Job's
favorite fruit and the logo.
- Steve meets the 18 year old, college drop-out
Steve Wozniak (Lemelson-MIT). At this time though,
Jobs helped Wozniak sell his "'blue box' an illegal
pocket-size telephone attachment that would allow
the user to make free long-distance calls" .
graduated from high school, and went to Reed
College. After the first semester, he dropped out
of the school, but stayed around the campus,
"taking classes in philosophy and immersing himself
in the counterculture" .
- Jobs started working as a video game designer
for Atari, Inc., "a pioneer in electronic arcade
recreation" . After working for several months and
saving his money, he then went to India with a
friend in search of spiritual enlightenment.
returned, Jobs started attending weekly meetings of
Wozniak's Homebrew Computer Club. While Wozniak was
"content with the joy of electronics . . . .
[Jobs] had his eye on marketability of
electronic products and persuaded Wozniak to work
with him toward building a personal computer" . So
with Jobs' "passionate belief in bringing computer
technology to everyone" and Wozniak's "engineering
talent" they became a team (Lemelson-MIT).
"designed the Apple I in Jobs' bedroom and . . .
built the prototype in the Jobs' garage" . To
finance their company, Jobs sold his Volkswagen van
and Wozniak his programmable calculator to raise
$1,300. Some weeks later, Jobs "secured the
company's first sale: 50 Apple I computers at $666
each" . And Apple Computers Inc., was
The Apple I
lead to the Apple II. The successful Apple II has
been described as "the Volkswagen of computers" .
Jobs "created the sleek design for the Apple II"
with its plastic casing and featuring the Apple
logo, "an apple with a missing bite, playing on the
word 'byte,' one of the central units of
information in computer languages"
There were three main
factors in the Apple II's success. One reason being
it had an open system that allowed for add-ons like
- They marketed it in 1976 at a price of $666.
Jobs and Wozniak put together their first computer,
called the Apple I. The Apple I was the first
single-board computer with built-in video
interface, and on-board ROM, which told the machine
how to load other programs from an external source.
Jobs was marketing the Apple I at hobbyists like
members of the Homebrew Computer Club who could now
perform their own operations on their personal
computers. Jobs and Wozniak managed to earn
$774,000 from the sales of the Apple I. The
following year, Jobs and Wozniak developed the
general purpose Apple II. The design of the Apple
II did not depart from Apple I's simplistic and
compactness design. The Apple II was the Volkswagon
of computers. The Apple II had built-in circuitry
allowing it to interface directly to a color video
monitor. Jobs encouraged independent programmers to
invent applications for Apple II. The result was a
library of some 16,000 software programs.
setting the standard in personal computers, the
Apple II had earnings of $139,000,000 within three
years, a growth of 700 percent.
- The second was that after 1978 the computer
came with a Wozniak engineered disk drive.
perfected after Jef Raskin joined Apple in January
1978 as the 31st employee. He later hired his
former student Bill Atkinson from UCSD to work at
Apple, and began the Macintosh project. He was
credited with the decision to use a one-button
mouse as part of the Apple interface, a departure
from the Xerox PARC standard of a three-button
mouse. He has since stated that if it were he who
had redesign the interface, he would have used a
two button mouse.
- Apple's devotees developed the spread sheet
program that only ran on Apple Computers. One of
those devotees was Jef
Raskin. He was the human-computer interface expert
who began the Macintosh project for Apple Computer
and was the author of The Humane Interface, which
in large part builds on his earlier work with the
Canon Cat. Raskin received a B.S. Mathematics and
B.A. in Philosophy from the State University of New
York and an M.S. in Computer Science from the
Pennsylvania State University. As an assistant
professor at the University of California, San
Diego (UCSD), he taught classes ranging from
computer science to photography.
- Apple goes public. Impressed with that
growth, and a trend indicating an additional worth
of 35 to 40 percent, the cautious underwriting firm
of Hambrecht & Quist in cooperation with Wall
Street's prestigious Morgan Stanley, Inc., took
Apple public in 1980. The underwriters price of $22
per share went up to $29 the first day of trading,
bringing the market value of Apple to $1.2
- Apple had sales of $583,000,000 up 74 percent
from 1981. Its net earnings were $1.06 a share, up
55 percent, and as of December 1982, the company's
stock was selling for approximately $30 a share.
- its compound growth rate was over 150% a
year. Then IBM muscled into the personal computer
business. Two years after introducing its PC, IBM
passed Apple in dollar sales of the machines. IBM's
dominance had made its operating system an industry
standard which was not compatible with Apple's
products. Jobs knew in order to compete with IBM,
he would have to make the Apple compatible with IBM
computers and needed to introduce new computers
that could be marketed in the business world which
IBM controlled. To help him market these new
computers Jobs recruited John Sculley from Pepsi
Cola for a position as president at Apple.
- Jobs designed the Macintosh to compete with
the PC and, in turn, make Apple's new products a
success. In an effort to revitalize the company and
prevent it from falling victim to corporate
bureaucracy, Jobs launched a campaign to bring back
the values and entrepreneurial spirit that
characterized Apple in its garage shop days. In
developing the Macintosh, he tried to re-create an
atmosphere in which the computer industry's highly
individualistic, talented, and often eccentric
software and hardware designers could flourish. The
Macintosh had 128K of memory, twice that of the PC,
and the memory could be expandable up to192K. The
Mac's 32-bit microprocessor did more things and out
performed the PC's 16-bit microprocessor. The
larger concern of management concerning the
Macintosh was not IBM compatible. This caused an
uphill fight for Apple in trying to sell Macintosh
to big corporations that where IBM territory. "We
have thought about this very hard and it could be
easy for us to come out with an IBM look-alike
product, and put the Apple logo on it, and sell a
lot of Apples. Our earning per share would go up
and our stock holders would be happy, but we think
that would be the wrong thing to do," says Jobs.
The Macintosh held the moments possibility that
computer technology would evolve beyond the
mindless crunching of numbers for legions of
corporate bean-counters. As the print campaign
claimed, the Macintosh was the computer "for the
rest of us."
- Jobs lured John Scully from Pepsi-Cola to
help him compete, saying "If you come to Apple you
can change the world" .
- after the failed Apple III and Lisa computers
(Apple III had design flaws and Lisa, though user
friendly was too expensive), Apple introduced the
Macintosh. Jobs designed it to compete with the PC,
and on Super Bowl Sunday in 1984, the Macintosh was
unveiled with the promise that "1984 would not be
like 1984" . The Macintosh, the first truly
user-friendly computer, with its mouse, icons, and
pop-up menus, was hailed by Jobs as being "not just
great . . . but insanely great" (Levy, 27).
was introduced in 1984.
The Macintosh was a
success, "over 400,000 Macs were sold in the first
year of production," but it did not ease any of the
tension at Apple.
- the strategy Jobs used to introduce the
Macintosh in 1984 was radical. The Macintosh, with
all its apparent vulnerability, was a revolutionary
act infused with altruism, a technological
bomb-throwing. When the machine was introduced to
the public on Super Bowl Sunday it was, as Apple
Chairman Steve Jobs described it, "kind of like
watching the gladiator going into the arena and
saying, 'Here it is." [Scott, 1991, p.71]
The commercial had a young woman athlete being
chased by faceless storm-troopers who raced past
hundreds of vacant eyed workers and hurled a
sledgehammer into the image of a menacing voice. A
transcendent blast. Then a calm, cultivated speaker
assured the astonished multitudes that 1984 would
not be like 1984. Macintosh had entered the arena.
That week, countless newspapers and magazines ran
stories with titles like "What were you doing when
the '1984' commercial ran?"
the development of the Macintosh, Jobs had fanned
the fervor of the design team by characterizing
them as brilliant, committed marhinals. He
repeatedly clothed both public and private
statements about the machine in revolutionary,
sometimes violent imagery, first encouraging his
compatriots to see themselves as outlaws, and then
target the audience to imagine themselves as
revolutionaries. Jobs, like all those who worked on
the project, saw the Macintosh as something that
would change the world. Jobs described his
Macintosh developing team as souls who were "well
grounded in the philosophical traditions of the
last 100 years and the sociological traditions of
the 60's. The Macintosh team pursued their project
through grueling hours and against formidable odds.
A reporter who interviewed the team wrote: "The
machine's development was, in turn, traumatic,
joyful, grueling, lunatic, rewarding and ultimately
the major event in the lives of almost everyone
- NeXT, Wozniak left and Scully demoted Jobs.
Jobs then left Apple to form his own company. This
company, NeXT has a focus on educational computing.
Though the final product sold poorly, its
"workstation concept with high-level graphics and
advanced technology resulted in descovering
animation. Subsequently he started the NeXT
Corporation to provide an educational system at a
reasonable price, but found that software was a
better seller than hardware.
- during a board meeting, Jobs said "I've been
thinking a lot and it's time for me to get on with
my life." He resigned as chairman with the
intention to launch his own venture. His departure
from Apple allowed Jobs to revolutionize the
hardware industry with his new company
- Pixar, co-founded by Jobs.
- Jobs receiving the 1989 Software Publishers
Association's Lifetime Achievement Award" (Notable
- Jobs married Laurene Powell and they now have
two children. Jobs is presently using his prestige
and influence which he earned at Apple to further
advance computer technology and provide an
alternative to Microsoft. Jobs feels "Microsoft has
not transformed itself into an agent for improving
things or a company that will lead the next
revolution in software development" . Jobs has also
become "concerned because he sees Microsoft
competing very fiercely to put a lot of companies
out of business . . .hurting innovation in the
computer industry" . Jobs would rather the public
use NeXT, instead of Microsoft.
- After years of struggle and over $250 million
in investments in the firm, his dreams were not
coming to life and he decided to terminate the
hardware division He realized that his knowledge
and efforts were better utilized in the software
- NextStep software would revolutionize the
industry with a fresh technology called OOP
(Object-Oriented Programming) that allowed
programmers to design software programs in a
smaller amount of time. Next Software was later
sold to Apple Computer in early
- Pixar's first Academy Award-winning Animated
movie: Toy Story.
- A Bug's Life (1998);
- Toy Story 2 (1999);
- Monsters, Inc. (2001);
- Academy Award-winning Finding Nemo (2003);
- The Incredibles (2004).
- Today, Apple continues to lead the industry
in innovation with its award-winning desktop and
notebook computers, OS X operating system, and
iLife and professional applications. Apple is also
leading the digital music revolution with its iPod
portable music players and iTunes online music
- March 16 - Apple Seeks Bonus for Steve
The name Pixar, first
came to the attention of Josie Cory, the new
publisher/owner of Television International
Magazine, in 1987. It was a press release
announcing the newly formed animation organization
created by Steve Jobs, the co-founder of
Sometimes, during a
dinner time chat, she'll share the two reasons for
choosing the Apple as the computer to publish TVI.
The first, was because Troy
Cory's Vine Street Video Center stage
facilities, had been using them for years to
edit and transmit short televisiion photos and
music over a telephone line, and the second reason,
because of a joke. She says, when her husband,
(Troy Cory), told me the one about, "it was Eve who
invented the Apple, because she took the first byte
-- to this
have never stopped using the Apple
to publish the magazine, tvinews, and
LookRadio's VRA TelePlay DVDs."
Quark Xpress was the
application used to format its pages.
name Macintosh computer, was named by the late
Jef Raskin, (died, February 26, 2005. Jef
stated in April, 1996 that he named the succulent
McIntosh, after his, "favorite kind of eatin'
apple". He said he changed the spelling of the name
"to avoid potential conflict with McIntosh, the
the fledgling Apple as employee No. 31 in 1978
after graduating from the State University of New
York at Stony Brook with degrees in math and
philosophy and earning a master's degree in
computer science at Penn State University. At
Apple, he first worked as manager of publications
and later became head of the team developing the
continues to lead the industry in innovation with
its award-winning desktop and notebook computers,
OS X operating system, and iLife and professional
applications. Apple is also leading the digital
music revolution with its iPod portable music
players and iTunes online music store.
created six of the most successful and beloved
animated films of all time: Academy Award-winning
Toy Story (1995); A Bug's Life (1998); Toy Story 2
(1999); Monsters, Inc. (2001); Academy
Award-winning Finding Nemo (2003); and The
Incredibles (2004). Pixar's six films have grossed
more than $3 billion at the worldwide box office to
Steve grew up
in the apricot orchards which later became known as
Silicon Valley, and still lives there with his wife
and three children.
just goes to show you, says", Josie Cory --
"NOTHING IN THIS WORLD IS PERMANENT" . . .
so follow the
take some advice from a dinner-time chat with
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