February 10, 1994 |
In a blistering counterattack against John Sculley, Spectrum Information Technologies said it filed a $300-million lawsuit Wednesday against its former chairman, charging that Sculley's resignation two days earlier was the culmination of an elaborate conspiracy. A spokesman for Sculley called the Spectrum lawsuit "a complete work of fiction."
February 8, 1994 |
It may have been one of the worst career moves of all time. In October, John Sculley--having worn out his welcome at Apple Computer--joined a small, unproven, communications company called Spectrum Information Technologies. On Monday, he resigned--and filed a lawsuit against the executive he says recruited him to the job under false pretenses. It's a bizarre, tragicomic saga that may permanently blacken the reputation of one of the nation's most prominent business executives.
January 26, 1994 |
John Sculley, the former boss at Apple Computer Inc. who is now chairman of tiny Spectrum Information Technologies, on Tuesday denied a report that he is leaving the wireless communications company. But the television report, by columnist Dan Dorfman, also alleged that the Securities and Exchange Commission is investigating the company, and it sparked frenzied trading in Spectrum shares, which tumbled $1 to $6.31 on the Nasdaq.
December 29, 1993 |
Apple Pays Severance to Sculley's Former Aides: The computer maker, which gave former Chairman John Sculley a multimillion-dollar severance package, disclosed that two of his top assistants got somewhat smaller packages. Albert A. Eisenstat, who was vice president and secretary, will receive $646,000, medical benefits and the right to exercise options to buy Apple Computer Inc. shares valued at $13.4 million. Robert L.
November 19, 1993 |
Apple Gives Sculley Hefty Package: Apple Computer Inc. sweetened former Chairman John Sculley's goodby with a multimillion-dollar golden parachute that included the purchase of his Lear jet, the company's proxy statement shows. Just a few weeks after Cupertino, Calif.-based Apple fired 2,500 employees and ordered a 5% pay cut for its executive staff, the computer company paid Sculley $1 million in severance and promised another $750,000 in "consultant's fees" over the next year.
October 19, 1993 |
John Sculley, who resigned Friday as chairman of Apple Computer Inc., raised more than a few eyebrows Monday with the announcement that he will head Spectrum Information Technologies Inc., a small and controversial wireless communications company. Sculley is believed to have been a candidate for the top job at Eastman Kodak Co., and many observers had assumed he would land at a major company.