Apple CEO’s pay takes big hit vs. record 2011 package

NEW YORK (Reuters) – Apple Inc CEO Tim Cook’s 2012 compensation package of just over $ 4 million is a huge cut on paper for the top executive of the most valuable U.S. corporation, after a 2011 package fattened by more than $ 376 million in long-term stock awards.

Cook received the largest single pay package awarded to a company CEO in about a decade when he replaced Apple‘s legendary co-founder, Steve Jobs, shortly before Jobs’ death in October 2011.

The maker of the iPhone and iPad made the 2012 compensation disclosures in a regulatory filing on Thursday. Cook, who is in his early 50s, joined Apple in 1998 and became CEO in August 2011.

Virtually all of Cook’s $ 376 million bonus in 2011 was in stock awards that will vest in two chunks – one in 2016 and the other in 2021. This structure was intended to keep Jobs’ longtime lieutenant at the helm for many years.

In terms of base salary, Cook actually received a 50 percent increase to $ 1.4 million for 2012, and the same 200 percent bonus that other top Apple executives like CFO Peter Oppenheimer earned, Apple said in a regulatory filing on Thursday.

The 2012 compensation package for Cook also pales in comparison with his 2010 pay, which was 14 times higher, when he served as chief operating officer.

But Tim Ghriskey, chief investment officer of Solaris Group – which counts Apple stock as the biggest holding among the approximately $ 2 billion it manages – said Cook’s package was “normal CEO compensation.”

For example, Yahoo Inc’s CEO, Marissa Mayer, a former Google Inc high-flyer hired this year to try to turn around the struggling Internet icon, won a pay package worth more than $ 70 million. Despite her lack of a CEO track record, her basic pay is comparable to Cook’s, with about $ 1 million in annual salary and up to $ 2 million in an annual bonus.

Oracle Corp’s Larry Ellison, one of the most highly paid chief executives in the United States – and also the world’s sixth-richest man, according to Forbes – received total compensation for the year ended May 31, 2012, of $ 96.2 million – almost all of it in stock options.

That compared with $ 77.6 million for Ellison in the prior year.

Cook’s longtime boss, Jobs, famously received $ 1 a year in salary in the three years before he stepped down, though in 2000 he too received a stock option that analysts say was valued at almost $ 600 million at the time.

Cook will not receive any stock awards for 2012, Apple said in Thursday’s filing.

The 2012 package includes a salary of $ 1.4 million and a nonequity bonus of $ 2.8 million. Cook’s base salary actually increased in 2012 from the $ 900,000 he earned in 2011.

While Apple’s shares are roughly 35 percent higher than when Cook became CEO, they have fallen more than 27 percent since October, when they hit a $ 700.10 high. The stock has declined amid investor worries about intensifying competition in the mobile phone market and growth prospects in important markets including China.

Apple shares were down 1.3 percent at $ 506.35 on the Nasdaq on Thursday afternoon.

(Reporting by Sinead Carew and Liana Baker in New York, Jim Finkle and Tim McLaughlin in Boston and Edwin Chan in San Francisco,; editing by Kenneth Barry and Matthew Lewis)

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The Best of 2012 Red Carpet Fashion

From Angelina Jolie's glamorous Atelier Versace Golden Globes dress, to Sofia Vergara's gorgeous glittery teal Zuhair Murad gown (that ended up giving her one of the most memorable wardrobe malfunctions of all time) at the Emmys, the year was full of buzzworthy red carpet fashion moments.

Pics: 2012's Top 12 Amazing Gowns

Check out the video to see the best of the best, and to relive star-making moments such as Jennifer Lawrence in her gold cut-out Prabal Gurung gown at The Hunger Games premiere and Anne Hathaway's dramatic Tom Ford Les Miserables look that's sure to go down in the history books!

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Sales contracts for houses and condos in Miami-Dade rose in November

Homebuyers continued to sign contracts to buy homes and condominiums in Miami-Dade county at a brisk pace in November.

Pending sales for an existing single-family home or condominium spiked 52 percent in Miami-Dade in November to 3,374 units from 2,226 a year earlier, according to the Miami Association of Realtors.

The volume of pending sales – reflecting a sales contract signed on a transaction that hasn’t closed – fell 19.1 percent in November from October, the Realtors’ group said.

Pending sales for single-family homes rose 73.8 percent in November from a year earlier, while that for condos increased 37.4 percent year over year, Miami Realtors said.

The group said Miami-Dade is on track to hit a new sales record existing homes and condos for 2012.

With exceptionally tight inventory of residential property on the market and rising demand, properties are selling at closer to their asking prices. Single-family homes sold in November got 93.7 percent of the original listing price on average, while condominiums fetched 96.2 percent, Miami Realtors said.

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Outdoorsy fun for the New Year’s holiday

So, as Miss Ella once sang, What Are You Doing New Year’s Eve?

Many of you, of course, will ring in 2013 with champagne and dancing at one of the clubs in Miami Beach or downtown Miami — and many of these same people will wake up with a hangover Tuesday only to wonder why they spent $2,000 to be in the same space as R&B/hip-hop act Drake and a DJ at the Fontainebleau or depressed that they spent $1,500 for a VIP table at the Catalina’s Studio 54 party to hear ’70s disco when they could have played Donna, Gloria and the Village People at any old time on iTunes for a few houseguests.

Clubbing not your thing? Good thing you live in South Florida, where going outside generally makes sense at this time of year. Here are some suggestions for activities, with an accent on the great outdoors and even a little fitness thrown in for good measure.

King Mango Strut

The annual spoof of the Orange Bowl Parade — or whatever some politician wants to call it now, as in ‘La Gran Naranja’ — has been “putting the ‘nut’ back in ‘Coconut Grove’ since 1981,” its ads tout. This time around, being an election year should provide plenty of fodder, and not just the silliness going on in West Kendall and Brickell, where some people are still waiting to cast a vote in the presidential race. (Obama won, go home.) The snarky parade pokes good-natured fun at the people and things behind the events that made the news snap during the year. This year’s grand marshal will be Clint Eastwood’s chair, fresh from the Republican National Convention.

This year’s parade takes place at 2 p.m. Sunday in downtown Coconut Grove on the corner of Commodore Plaza and Main Highway. The wacky participants turn left onto Main Highway and then left onto Grand Avenue at CocoWalk. Get comfy along the street and prepare to giggle. Call the Mango Hotline at 305-582-0955 for information.

The orange rises

You can go traditional and watch the ball rise in downtown Miami at the Bayfront Park Amphitheater New Year’s shindig, La Gran Naranja. The free event features music and the midnight countdown for the climb of the Big Orange along the side of the Hotel InterContinental, followed by fireworks. Be there at 301 N. Biscayne Blvd. Call 305-358-7550.

Just want the fireworks part? Miami Beach’s New Year’s Eve Party offers a free fireworks celebration at midnight on the beach near Ocean Drive and Eighth Street, if you can tear yourself away from Carl Cox at Mansion and Calvin Harris at Liv. Call 305-673-7400.

Bike It

Shark Valley, on the Tamiami Trail about 35 miles into the Everglades, is a real South Florida experience. Cycle amid gators — and we’re not talking the University of Florida variety. Alligators, wading birds and turtles frolic freely in the greenery along the 15-mile round-trip bike path. A multilevel observation at the midpoint offers a nice break spot for a boxed lunch or photo ops. There are no shortcuts, but you can opt for a tram tour. Call 305-221-8776.

Other leisurely bike rides around town include the shaded 13 or so miles of the Old Cutler Trail in South Miami, and you can pop over to Pinecrest Gardens for the Sunday Green Market, one of South Florida’s best farmers markets. North Dade residents aren’t too far from the restored Hollywood Beach Broadwalk for some nice ocean views while cycling or strolling.

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Netflix blames Amazon for Christmas Eve outage

NEW YORK (Reuters) – An outage at one of Amazon‘s web service centers hit users of Netflix Inc‘s streaming video service on Christmas Eve and was not fully resolved until Christmas Day, a spokesman for the movie rental company said on Tuesday.

The outage impacted Netflix subscribers across Canada, Latin America and the United States, and affected various devices that enable users to stream movies and television shows from home, Netflix spokesman Joris Evers said. Such devices range from gaming consoles like the Nintendo Wii and PlayStation 3 to Blu-ray DVD players.

Netflix, which is based in Los Gatos, California, has 30 million streaming subscribers worldwide, of which more than 27 million are in the Americas region that was exposed to the outage and could have potentially been affected, Evers said.

Evers said the issue was the result of an outage at an Amazon Web Services‘ cloud computing center in Virginia and started at about 12:30 p.m. PST (2030 GMT) on Monday and was fully restored before 8:00 a.m. PST Tuesday morning, although streaming was available for most users by 11:00 p.m. PST on Monday.

The event marks the latest in a series of outages from Amazon Web Services, with one occurring in April of last year that knocked out such sites as Reddit and Foursquare.

“We are investigating exactly what happened and how it could have been prevented,” Evers of Netflix said.

“We are happy that people opening gifts of Netflix or Netflix capable devices can watch TV shows and movies and apologize for any inconvenience caused last night,” he added.

Officials at Amazon Web Services were not available for comment. Evers, the Netflix spokesman, declined to comment on the company’s contracts with Amazon.

(Reporting by Sam Forgione; Editing by Leslie Gevirtz and Matt Driskill)

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Harrison Ford Feeds Homeless on Christmas Eve

Harrison Ford and his family helped spread Christmas cheer on Monday, serving meals to the less fortunate.

RELATED: Harrison Ford on Raiders Stunt in Vintage Footage

The Oscar nominee and his son Chef Ben Ford volunteered at the Los Angeles Mission's Christmas Eve dinner on Skidrow.

Ben, the Executive Chef and proprietor of Ford's Filling Station restaurant in Culver City, CA, cooked over 4,000 chicken dinners for the event, calling it "one of [his] favorite days of the year" in a Facebook message posted Monday.

"Looking forward to sharing this special day with my family," Chef Ben added.

PICS: Celebrities With Santa

Forming the perfect magnanimous tag team, Harrison passed out food while the chef kept busy in the kitchen.

Mayor Anotonio Villaraigosa, Harry Hamlin, Lisa Rinna and Melissa Gilbert also braved the rain to volunteer.

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90-year-old real estate baron, philanthropist Jay Kislak is forever young

Real estate baron Jay I. Kislak discovered a Fountain of Youth of sorts that springs from an inquisitive and acquisitive mind.

At 90, Kislak is wheeling and dealing in real estate, and he’s exploring history and art with the fervor of a man generations younger.

The patriarch of The Kislak Organization marked 74 years in real estate this year, 59 spent in Miami.

While he has long since appointed a protégé, Thomas Bartelmo, as president and CEO of the diverse family-owned real-estate businesses, Kislak remains chairman. And he is a regular at the headquarters in Miami Lakes.

That is, when he’s not off to Maine for the summer.

Or busy chairing a blue-ribbon commission named by the U.S. Interior Secretary to orchestrate the 450th anniversary in 2015 of the founding of St. Augustine.

Or jetting off to evaluate a possible acquisition. (Kislak recently looked at the potential for real estate development in North Dakota, booming with shale oil, but decided to pass.)

Kislak’s empire has gone through dramatic changes over the years. He built — and eventually sold — commercial banking, mortgage servicing and insurance firms.

Today, with annual revenue in excess of $28 million, his organization focuses on the commercial brokerage business started by his father, Julius Kislak, in Hoboken, N.J., more than a century ago; on owning a portfolio of apartments and other property (Kislak is on the prowl for more), and on managing funds of property-tax certificates, a niche created by the economic downturn.

Looking out his office window at a bustling interchange recently, Kislak mused: “I remember when they built the Palmetto Expressway and you could drive down it and never see another car.”

“The same thing with I-95: There was hardly any traffic,” said Kislak, a slender man with a signature mustache and a thick Hoboken accent that never faded.

Kislak moved to Miami in 1953 to grow the mortgage business, but his world view hardly dates to 1950s Florida. Already a book lover, he began pulling on a thread of Florida history, soon broadening his interest to the early Americas.

Over the decades, Kislak, bankrolled by a stream of brokerage commissions, mortgage fees and apartment rent, grew into a prominent collector of rare books and maps, manuscripts, artifacts and art to feed his fascination with the pre-Columbian era and the European exploration of America.

His wife Jean Kislak shares his passion for collecting. They met at a party for Andy Warhol; it would be her second marriage, his third. Their quest for art, history and collecting has taken them to all continents, even Antarctica.

“We don’t quit [collecting]. But we are going to quit,” said Jean, a former corporate art director. “Acquisition has always been a part of my life. I don’t know if it’s a sickness.”

In 2004, Kislak gave away much of the treasure. His foundation donated more than 3,000 rare maps, manuscripts, paintings and artifacts to the Library of Congress. The gift, estimated to be worth in excess of $150 million, is housed in the ornate Thomas Jefferson building in an exhibit that bears his name. Kislak also funds fellowships for studies of the collection, part of his diverse efforts over the years to support education. Among other things, his family foundation endowed the Kislak Real Estate Institute at Monmouth University, in West Long Branch, N.J., and has provided key support to a real estate program at Florida State University.

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Marvel's Peter Parker in perilous predicament

PHILADELPHIA — After 50 years of spinning webs and catching a who's who of criminals, Peter Parker is out of the hero game.

But Spider-Man is still slinging from building to building — reborn, refreshed and revived with a new sense of the old maxim that Ben Parker taught his then-fledgling nephew that "with great power, comes great responsibility."

Writer Dan Slott, who's been penning Spidey adventures for the better part of the last 100 issues for Marvel Entertainment, said the culmination of the story is a new, dramatically different direction for the Steve Ditko and Stan Lee-created hero.

AP

The cover of the 700th and final issue in the comic book series "The Amazing Spider-Man."

"This is an epic turn," Slott said. "I've been writing Spider-Man for 70-plus issues. Every now and then, you have to shake it up. ... The reason Spider-Man is one of the longest running characters is they always find a way to keep it fresh. Something to shake up the mix."

And in the pages of issue 700, out Wednesday, it's not just shaken up, it's turned head over heels, spun in circles, kicked sky high and cracked wide open.

Parker's mind is trapped in the withered, decaying dying body of his nemesis, Doctor Octopus aka Otto Octavius. Where's Doc Ock? Inside Parker's super-powered shell, learning what life is like for the brilliant researcher who happens to count the Avengers and Fantastic Four as friends and family.

The two clash mightily in the pages of issue 700, illustrated by Humberto Ramos and Victor Olazaba. But it's Octavius who wins out and Parker is, at least for now, gone for good, but not before one more act of heroism.

Slott said that it's Parker, whose memories envelop Octavius, who shows the villain what it means to be a hero.

"Gone are his days of villainy, but since it's Doc Ock and he has that ego, he's not going to try and just be Spider-man, he's going to try to be the best Spider-Man ever," said Slott.

Editor Stephen Wacker said that while Parker is gone, his permanence remains and his life casts a long shadow.

"His life is still important to the book because it affects everything that Doctor Octopus does as Spider-Man. Seeing a supervillain go through this life is the point — trying to be better than the hero he opposed," Wacker said.

"Doc has sort of inspired by Peter's life. That's what I mean when he talks about the shadow he casts," he said.

The sentiment echoes what Uncle Ben said in the pages of "Amazing Fantasy" No. 15, Slott said.

Editor Stephen Wacker called it a fitting end to the old series, which sets the stage for a new one — "The Superior Spider-Man" early next year — because it brings Peter Parker full circle, from the start of his crime-fighting career to the end.

"In his very first story, his uncle died because of something he did so the book has always been aimed at making Peter's life as difficult as possible," Wacker said. "The book has always worked best when it's about Peter Parker's life, not Spider-Man's."

And with Octavius influenced by Parker's life — from Aunt May to Gwen Stacy to Mary Jane — it will make him a better person, too.

"Because Doctor Octopus knows all of those things and will make decisions on what he saw Peter going through," Wacker said. "In a way, he gets the ultimate victory as he becomes a better hero."

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Memorial set for 2002 Florida gubernatorial candidate Bill McBride

A memorial service for Bill McBride, the Florida Democrat who defeated Janet Reno for the party’s gubernatorial nomination in 2002 but lost to Republican Gov. Jeb Bush, will be held later this week in Tampa.

The service is scheduled for 1 p.m. Friday at the Palma Ceia Presbyterian Church.

McBride suffered a fatal heart attack Saturday while visiting with family in Mount Airy, N.C. He was 67.

McBride defeated Reno, who was U.S. attorney general under President Bill Clinton, in the Democratic primary to run against Bush. Before entering politics, he was managing partner at the prestigious Holland & Knight law firm.

McBride’s wife, Alex Sink, was the Democratic nominee for governor in 2010, losing to now-Gov. Rick Scott. The couple lived outside of Tampa.

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10 Talented Dogs Playing the Piano

Title Post: 10 Talented Dogs Playing the Piano
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