September 26, 1997: In one of his first tasks after returning to Apple as interim CEO, Steve Jobs reveals the company’s massive quarterly loss of $161 million.
Giving investors the bad news is miserable, but things are about to change dramatically for Apple.
July 8, 1997: Steve Jobs begins his path to becoming chief executive officer of Apple, after former CEO Gil Amelio departs the company on the back of a massive quarterly loss. Also leaving Apple is Ellen Hancock, executive vice president of technology.
To run Apple’s day-to-day operations, CFO Fred Anderson takes over until a new CEO can be found. Jobs, meanwhile, moves from strategic adviser to take “a more expanded role with Apple’s board and executive management team.” The turnaround has started!
March 8, 1997: Apple renames the forthcoming Mac OS 7.7 update, calling it “Mac OS 8.” It’s more than just a name change, though: It’s a sneaky sucker punch that ultimately knocks out Mac clones.
Unfortunately for Mac users, the updated operating system does not deliver the total top-to-bottom rewrite promised by Apple’s Project Copland. However, the renaming strategy turns out to be a brilliant (if underhanded) way of getting Apple out of terrible licensing deals.
February 18, 2004: Steve Jobs sends an internal memo to Apple employees revealing that the company is, for the first time in years, totally debt-free.
“Today is a historic day of sorts for our company,” he writes. It marks a big turnaround from the bad old days of the 1990s, when Apple carried more than $1 billion in debt — and faced the danger of bankruptcy.
January 31, 1998: Mac clone-maker Power Computing goes out of business, having auctioned off its office supplies and computers.
Apple bought out Power Computing, once the fastest-growing PC company of the decade, the previous year. As a result, Power Computing shareholders receive Apple stock as a replacement. As it turns out, that may not have been a terrible deal.
December 28, 2006: As the rest of the country enjoys a much-deserved holiday, Apple gets embroiled in a stock “backdating” scandal.
The news, centered on the dubious awarding of stock options to Steve Jobs, prompts Apple share prices to fall. Some people even suggest Jobs might have to step down as Apple CEO. Fortunately, that doesn’t happen.
December 16, 1994: Apple Computer inks a licensing deal with Power Computing, allowing the company to produce Macintosh-compatible computers.
With falling market share, and longtime rival Microsoft steaming ahead thanks to its software-licensing strategy, Apple executives think the only way to compete is for Apple to hand over its operating system for third-party Macs.
Of course, it doesn’t turn out exactly like that…
Apple co-founder and former CEO Steve Jobs threatened Palm CEO Edward Colligan with patent litigation if he did not agree to stop poaching Apple employees, according to a court filing that was made public on Tuesday.
Confidential emails between the pair, along with documents from Adobe and Google, have surfaced in a civil lawsuit that claims a number of major companies in Silicon Valley violated antitrust rules by entering into agreements not to recruit each other’s employees. Five employees are now fighting for class action status and damages for lost wages as a result of the “no-hire” agreements.
