Path: utzoo!utgpu!jarvis.csri.toronto.edu!mailrus!tut.cis.ohio-state.edu!gem.mps.ohio-state.edu!apple!landon
From: landon@Apple.COM (Landon Dyer)
Newsgroups: comp.sys.atari.st
Subject: Re^2: Random Dribble...
Message-ID: <36515@apple.Apple.COM>
Date: 15 Nov 89 21:46:57 GMT
Organization: Apple Computer Inc., Cupertino, CA
Lines: 27


From article <24088@cup.portal.com>, by Bob_BobR_Retelle@cup.portal.com:
> Er... read up on your Atari Inc/Atari Corp history... Jack Tramiel obtained
> control of the Atari company with VERY LITTLE cash outlay...   essentially
> he took over control of a bankrupt division of Warner Communications and
> sold off the existing warehouse stock at a fraction of its list price value
> to raise cash...  he then used that cash to finance the debut of the ST onto
> the marketplace.

Alleged by Leonard Tramiel several years ago (and paraphrased):

CASH?  The Warner deal was closed with Jack's American Express card (it was
a friday in New York, and it was after five...).


The Warner Atari wasn't precisely _bankrupt_ -- that's a technical (legal)
term.  Rather, it was simply hemmoraging cash; IMHO it wouldn't have
survived another month or two without SOME kind of drastic intervention.  In
Warner's shoes, with losses to the tune of a million bucks a day, I'd want
to be rid of it *fast* -- wouldn't you? :-)

-- 

-----------------------------------------  "Mmmph!  Urghurmph!  Grugmph!"
Landon Dyer, Apple Computer, Inc.          "What's he trying to say?"
Development Systems Group (MPW / DSG)      "I dunno -- there's a lawyer
NOT THE VIEWS OF APPLE COMPUTER              crammed in his mouth."