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Apple Now Debt Free, Says Internal Memo

Posted by timothy on from the sprightly-even dept.

An anonymous reader writes "99mac.se publishes an internal memo from Steve Jobs to Apple employees today. According to the Memo, Jobs states that "Today is a historic day of sorts for our company." Apple used $300 million in cash to pay off the rest of their debt, and is now a debt-free company. A big turnaround from over $1 billion in debt in mid-1997. Also noted in the memo is that Apple has $4.8 billion in the bank at this time." (Since this is not coming straight from Apple, confirmation -- or debunking -- would be helpful.)

15 of 627 comments (clear)

  1. Because.. by LilGuy · · Score: 5, Funny

    They didn't make a game console that doesn't make money.

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    You're nothing; like me.
    1. Re:Because.. by perdelucena · · Score: 4, Funny

      "Apple [...] is now a debt-free company."

      One more prof that Apple is still dying...

  2. debunk by fjordboy · · Score: 5, Funny

    I can debunk it right now - Steve Jobs owes me thousands of dollars for the mental anguish I've experienced when trying to use the imac's original "hockey puck" mouse.

    --
    The anti-salmon
    1. Re:debunk by GoofyBoy · · Score: 4, Funny

      Do you know how much they've saved with not having to produce or do R&D for a second mouse button?

      --
      The surprise isn't how often we make bad choices; the surprise is how seldom they defeat us.
  3. Lesson Learned... by fetus · · Score: 5, Funny

    Sometimes overcharging does pay off...

  4. Cool! That puts them in a great position by kfg · · Score: 4, Funny

    . . .to borrow capital.

    KFG

  5. Re:want confirmation? by mal3 · · Score: 5, Funny

    I doubt it's true. That bastard Jobs still owes me $5 from high school.

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    Non gratis rodentus anus
  6. Re:First to say - Well Done by Misch · · Score: 5, Funny

    They key is to manage the debt carefully, and make sure that the interest payments do not get so large that they start eating away at your profits.

    Would you like to run for Congress? ;-)

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  7. Re:Bad? by yroJJory · · Score: 4, Funny

    Indeed you are slightly mistaken here. Since Apple is now a debt free company, it makes it a more attractive buy for someone else since they do not have to take more debt, it makes it more attractive.



    Oh. I see. Instead, we'll have to endure the "Apple is going to be bought by Disney" rumors again. Lucky us.
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    Jory
  8. The Wonders Of Spam by Ilan+Volow · · Score: 5, Funny

    Steve Jobs must have replied to one of those anonymous e-mails titled "GET OUT OF DEBT NOW".

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    Ergonomica Auctorita Illico!
  9. It was me by billstr78 · · Score: 5, Funny

    I bought an iBook on Friday for around $1300 without tax. That must have been the sale that pushed them over the edge.

  10. Re:First to say - Well Done by InfiniteWisdom · · Score: 4, Funny

    Ah so the US must be doing REALLY great then! The federal government owes $7 TRILLION in debt!

  11. Thanks to Spam, to boot! by Anonymous Coward · · Score: 4, Funny

    All it took was for Jobs to respond to an email informing him that m0rttgage rattes are at an ALLL T1ME L0W, refnance now!

    fdsaf fdfg4r
    uttmfgs bnswf mmsgv orange micron
    "And what would you havve me do?" Said Emma. The Rain in Spain falls mainly in the plain.

    Click here to unsubscrbe.

  12. Re:How does this compare with other companies? by mcwop · · Score: 4, Funny

    They copied Apple.

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  13. But I thought Apple was still beleaguered by Infonaut · · Score: 4, Funny
    What happened to all the doom and gloom?

    Where are the Wired magazine articles about how to "save" Apple?

    Where in the hell is Dvorak when you need him?!

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