Ex-Apple trio fails to shine

Iria · Mar 19, 2008, 04:38 PM

Many start-ups don't have profits when they go public. Some don't even have any significant revenue to speak of. But Acquicor took things a step further. It didn't even have a business.

The company, launched by three former Apple executives, was what's known as a blank-check company. Rather than have a business plan, such firms instead ask investors to bet on their management's track record, in this case that of former Apple CEO Gil Amelio, company co-founder Steve Wozniak, and former CTO Ellen Hancock.
__________
Source: News.com

Mar 19, 2008, 04:38 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	Ex-Apple trio fails to shine Many start-ups don't have profits when they go public. Some don't even have any significant revenue to speak of. But Acquicor took things a step further. It didn't even have a business. The company, launched by three former Apple executives, was what's known as a blank-check company. Rather than have a business plan, such firms instead ask investors to bet on their management's track record, in this case that of former Apple CEO Gil Amelio, company co-founder Steve Wozniak, and former CTO Ellen Hancock. __________ Source: News.com