April 21, 1995: Rumors swirl that Canon (yes, the Japanese camera company!) might take over Apple in either a partial or complete acquisition.
Speculation grows about a possible deal after Apple reveals its latest earnings, which show big improvement but still fall far short of Wall Street’s expectations.
February 2, 1996: Apple reveals that turnaround artist Gil Amelio will take over from Michael “The Diesel” Spindler as CEO of the struggling company.
With disappointing Mac sales, the disastrous “clone Mac” strategy and a failed Sun Microsystems merger to his name, Spindler is asked to resign by the Apple board. Then Cupertino enlists supposed corporate miracle worker Amelio for the job.
Unfortunately, he turns out to be no better than Spindler.
January 29, 1990: Apple CEO John Sculley appoints Michael H. Spindler as the company’s new chief operating officer.
Nicknamed “The Diesel” on account of his work ethic, Spindler’s new job continues his upward trajectory at Apple. Three years later, he will become CEO.
December 4, 1992: Apple engineers demonstrate a “proof of concept” of the Mac operating system running on an Intel computer.
More than a decade before Macs will switch to Intel processors, the astonishing feat is part of an aborted plan to make Apple’s software available on other manufacturers’ hardware. Apple ultimately chickens out, fearing (probably correctly) that such a move would hurt Macintosh sales.
October 15, 1993: John Sculley, the CEO responsible for forcing Steve Jobs out of Apple, is forced to leave the company himself.
Following a terrible quarter, in which the company posted a 97% drop in earnings, Sculley steps down as Apple chairman. He takes $1 million in severance pay, a one-year consulting fee of $750,000, a commitment from Apple to buy his $4 million mansion and $2 million Lear jet, and $2.4 million in stock options. Total take: around $10 million.
October 3, 1994: Apple CEO Michael Spindler reassures the world that Apple “is not a lame-duck company.”
Why would anyone suspect that it is? The answer lies in Apple’s collapsing Mac sales, massive layoffs and a $188 million quarterly loss. At 15 months into his stint as CEO, Spindler wants to reassure everyone that the worst is over.
Sadly, things will decline further before they start to turn around.
Apple Inc. and General Electric are two of the most iconic American companies of the last century, but back in 1996 they almost become one company as GE CEO Jack Welch considered buying the computer maker.
It would have only cost GE $2 billion and the current Apple CEO, Michael Spindler, was begging Welch to pull the trigger on the deal in order to save the struggling company.
How did HP get into such a mess with webOS? Essentially, the company shot itself in the foot as a parade of managers streamed through the corporate suites in a nightmare scenario reminding one of the worst days of Apple. Ousted HP CEO Leo Apotheker must take the blame, a former webOS head said.
