Jan 19, 2018

Grumbling in Cupertino over Apple's bonuses

Illustration: Axios Visuals

One might think that rank-and-file Apple employees would be thrilled with a just-announced $2,500 stock grant. And while that is probably true for the company's retail workers, who typically don't get such grants, not everyone in the engineering ranks was so pleased.

The inside scoop: There have been grumblings over both the amount of the bonuses and the appearance of playing into President Trump's hands on both that issue and the separate announcement around U.S. investment.

On the money: It sounds nice, but $2,500 (before taxes) doesn't go very far in Silicon Valley. Plus the restricted stock grant vests over three years, meaning the first third won't vest until next April and employees will have to stay at Apple until 2021 to get the full $2,500 in stock.

Free lunches (à la Google) might actually have been more welcome. Some employees were actually more jazzed about the increased match on charitable contributions than the stock grants. (Apple is now donating $2 for each $1 in employee charitable contributions, up to $10,000.)

Tax unease: Lastly, the Republican tax plan lowers tax rates in general, but many in Silicon Valley are concerned the $10,000 cap on state and local tax deductions will mean their bill actually goes up.

Go deeper

U.S. coronavirus updates: Death toll tops 4,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

The novel coronavirus has now killed more than 4,000 people in the U.S. — with over 1,000 deaths reported in New York City, per Johns Hopkins.

The state of play: President Trump said Tuesday it's "going to be a very painful two weeks," with projections indicating the virus could kill 100,000–240,000 Americans — even with strict social distancing guidelines in place.

Go deeperArrowUpdated 1 hour ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 860,181 — Total deaths: 42,354 — Total recoveries: 178,359.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 3 a.m. ET: 189,633 — Total deaths: 4,081 — Total recoveries: 7,136.
  3. Business updates: Should you pay your rent or mortgage during the coronavirus pandemic? Find out if you are protected under the CARES Act.
  4. Public health updates: More than 400 long-term care facilities across the U.S. report patients with coronavirus — Older adults and people with underlying health conditions are more at risk, new data shows.
  5. Federal government latest: President Trump said the next two weeks would be "very painful," with projections indicating the virus could kill 100,000–240,000 Americans.
  6. Coronavirus in custody: Inmates in all U.S. federal prisons are set to enter a 14-day quarantine on April 1. A federal judge on Tuesday ordered U.S. Immigration and Customs Enforcement to release 10 detained immigrants who are at risk from COVID-19.
  7. U.S.S. Theodore Roosevelt: Captain of nuclear aircraft carrier docked in Guam pleaded with the U.S. Navy for more resources after more than 100 members of his crew tested positive.
  8. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

World coronavirus updates: UN warns of recession with "no parallel" to recent past

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

The novel coronavirus pandemic is the "greatest test" the world has faced together since the formation of the United Nations just after the Second World War ended in 1945, UN chief António Guterres said Tuesday.

The big picture: COVID-19 cases surged past 859,000 and the death toll exceeded 42,000 early Wednesday, per Johns Hopkins data. Italy reported more than 12,000 deaths.

Go deeperArrowUpdated 2 hours ago - Health