“Ted Waitt is leaving the barn. More than two decades after the once-ponytailed entrepreneur launched Gateway Inc. in his grandmother’s Iowa farmhouse, Waitt on Thursday resigned as chairman of the folksy personal computer maker that reflected the rise and fall of the technology industry,” Terril Yue Jones reports for The Los Angeles Times.
“Waitt, who surrendered most of the day-to-day operation of the Irvine-based company after its 2003 acquisition of EMachines Inc. said he planned to pursue investment and philanthropic activities,” Jones reports. “Board member and former Gateway President Richard Snyder will succeed Waitt as chairman. Wayne Inouye will remain chief executive. Waitt, 42, is still Gateway’s largest shareholder, with a 28% stake.”
Jones reports, “During Waitt’s tenure Gateway opened — and then shut — nearly 200 retail stores around the country and slipped from being a profitable, competitive player in the PC business to a money-losing also-ran. Under Inouye, the company has laid off thousands of people and shored up its finances. ‘It was a great ride,’ Waitt said, ‘a great 20 years.'”
Full article here.
MacDailyNews Take: Sorry for the double-entendre, but, “Moo.”
(Long-time MacDailyNews Readers know about the now-mandatory use of the word “beleaguered” when Gateway is mentioned. More info in the aritcle, “Beleaguered Gateway puts on a happy face,” which also contains what is believed to be the first recorded use of “moo” on MDN. We have a little less than 3 years left, December 16, 2008, before we officially check in to take measure of beleaguered Gateway, if it even exists.)
Related MacDailyNews articles:
Beleaguered Gateway announces ‘iPod Photo killer’ (with image) – October 28, 2004
Beleaguered Gateway launches ‘iMac G5 killer’ – September 21, 2004
Beleaguered Gateway to ditch consumer electronics to focus on PC box assembly – September 13, 2004
Beleaguered Gateway cuts another 1,500 jobs; has cut 22,600 jobs in last four years – April 30, 2004
Beleaguered Gateway grinds up customer and spits him out unsatisfied – April 02, 2004
Beleaguered Gateway closes all retail stores; Apple poised to open 77th outlet – April 01, 2004
Beleaguered Gateway to axe over 2,000 jobs in next few months – March 03, 2004
Beleaguered Gateway to buy eMachines; combo could be 3rd largest Wintel box assembler – January 31, 2004
Beleaguered Gateway cuts more jobs; closes Virginia manufacturing plant – September 03, 2003
Beleaguered Gateway puts on a happy face – December 16, 2002
Beleaguered Gateway desperately circling the drain – September 25, 2002