Today is a historic day of sorts for our company. When I arrived back at Apple in mid-1997, the company was burdened with $1 billion of debt. Through everyone's hard work we turned Apple around, paid off the majority of our debt and began to amass a war chest of cash in the bank which has grown to about $4.8 billion! But there was still $300 million of remaining debt, which we decided to hold to maturity.
Today we used $300 million of our cash to pay off this remaining debt.
Apple is now a debt-free company – for the first time in over a decade!
It sure feels good.
Steve
What Steve Jobs has done to Apple over the last few years is nothing short of incredible, after that fool Gil Amelio was kicked out.
Source: http://www.99mac.se/
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