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Apple Doubled Steve Jobs' Salary To $2
Following the huge success of the iPhone, iPod and other iToys, Apple's board decided to double Steve Jobs' annual salary, which had been $1.00 for the past several years, making it one of the fastestgrowing CEO salaries in the nation.
This unprecedented 100% salary increase easily breaks the previous record set by the 60% increase General Electric's CEO received in 2007 when his pay was upped by $15 million.
Asked how he would spend the extra buck, the delighted Apple CEO was quoted as saying that "a substantial part of the raise will go to charities ".
Not everybody's happy.
"It's a corporate waste," argued another Steve, Microsoft CEO Steve Balmer .
"Even if my board gives me a 10% raise annually it would take a full 10 years to double my pay."
"Or longer," added Mr. Balmer after some hesitation.
Similar concerns were expressed by labor unions .A Local 512 representative said that if Apple continue to double its CEO's salary, "50 years from now Mr. Jobs will get a thousand trillion dollars annually, about a billion times more than theprojected salary of a hard working COBOL programmer in 2058."
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