Fable: The Two Sick IC Companies Which Made A Healthy One
27 years ago there were a couple of sick companies. Although two sick semi companies don’t usually make a healthy one, they merged to create a company which had annual sales of $850 million, annual losses of $200 million and debt of $650 million.
“Everyone was betting that within a couple of years, or sooner, we would go broke,” said the CEO.
Seven years later, after average annual growth of 17.6%, sales were $2.6 billion, profit was $362 million and debt was virtually zero.
Moral: You can make a silk purse out of a sow’s ear.