Today in Apple history: John Sculley bids Apple a $10 million farewell

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Former Apple CEO John Sculley talks at Web Summit 2015 in Dublin, Ireland.
After Steve Jobs and Tim Cook, John Sculley is Apple's most memorable CEO.
Photo: Web Summit/Flickr CC

October 15: Today in Apple history 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 for Apple, in which the company posted a 97 percent 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.

Today in Apple history: Michael Spindler denies Apple is a ‘lame duck’

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Apple CEO Michael Spindler headed the company during trying times in the 1990s.
Do you remember the Michael Spindler era at Apple?
Photo: Ste Smith/Cult of Mac

October 3: Today in Apple history 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. Fifteen months into his stint as CEO, Spindler wants to reassure everyone that the worst is over.

Sadly, things decline further before they start to turn around.

Today in Apple history: Gil Amelio takes over as CEO

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Bringing on Gil Amelio was viewed as a big coup for the Apple board.
Gil Amelio was viewed as the man to save Apple.
Photo: Apple

Feb2February 2, 1996: Apple announces that Gil Amelio is taking over from Michael “Diesel” Spindler as Apple CEO.

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. Supposed turnaround artist Gil Amelio is given the job instead.

Unfortunately, he turns out to be no better.

General Electric nearly bought Apple in 1996

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Suppliers can't wait for iPhone 7.
The iPhone could've been made by GE.
Photo: Jim Merithew/Cult of Mac

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.