> It had 90 days working capital on hand when
> he took over — in other words, Apple was only
> three months away from bankruptcy.
Sorry for my finance ignorance -- but is that description correct? I'd assume that having 90 days working capital means that you can run the company as-is for 90 days with no additional revenue. Given that Apple presumably had some stream of revenue at the time, that seems like a far cry from being "three months away from bankruptcy".
Sorry for my finance ignorance -- but is that description correct? I'd assume that having 90 days working capital means that you can run the company as-is for 90 days with no additional revenue. Given that Apple presumably had some stream of revenue at the time, that seems like a far cry from being "three months away from bankruptcy".