Steve Jobs Spends More Time in the Labs, Less in the Air
Apple spent more time and money making stuff last year, and less time making deals. That’s the conclusion you can draw from Apple’s annual 10-K report filed with the SEC yesterday. The company’s R&D budget ballooned up to $1.8 billion in 2010–that’s up 64 percent from 2008. But Apple’s boss spent less time in the air: CEO Steve Jobs, who uses his personal jet to get around on company business and bills Apple for the expense, racked up a mere $248,000 in plane bills. That’s down 71 percent from two years ago.