Despite Google’s Eric Schmidt tendering his resignation from Apple’s board of directors, the Federal Trade Commission (FTC) plans to continue its investigation into the relationship between the two companies–and you can blame the apparent greed of one man.
No, not Eric Schmidt. Not Steve Jobs. Nope, it’s Arthur Levinson.
Levinson remains on the board of both companies, leaving the door wide-open for the FTC to warm-up its various probes. In fact, if it were not for Levinson, the rectal tension would have already been relieved for both companies:
"Generally it would have shut down the investigation because they (regulators) achieved what they wanted to achieve," said Gary Reback at the law firm of Carr & Ferrell.
So why is Levinson still on the board of both companies? Well, with the lack of any statement from Mr. Levinson, we’ll go with the obvious: corporate greed.
You see, according to public records, Levinson stands to lose a considerable amount should he give up either position. If he quits the Apple board, he stands to lose total compensation of $711,434. Quit Google and he’ll lose $189,606. Any bets on which seat he’ll likely give up?
Of course, you can’t really blame Levinson for wanting to eat from both sides of the buffet line. After all, $900k for a few days work each month, would be hard for anyone to give up! Throw in the fact that both companies are equally high on the "cool" chart and you compound the decision.
Still, if Levinson truly loves both Apple and Google, he must ditch one to spare both of them a colonoscopy.