Apple Computer now a debt-free company

Apple CEO Steve Jobs today sent out a letter to Apple employees:

Team,

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

33 Comments

  1. You guys are talking none sense. Why should Steve Jobs run for presidency? Why should he be forced to work with liars, morons and douchbags who have no moral? Why should he be involved in WARS?
    Jobs is a creative person not a “fu****” politician (liar)
    Why the name of the Liar of the year is in this forum? Why do we have to talk about political morons in here?
    This is a forum to discuss computer stuff and especially Apple stuff. Leave liars and morons out of the creative world of Apple.
    Peace

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