Sound familiar? 2008. General Motors. The resemblance is astonishing.
The very idea of Apple being the largest music seller in America and the number 3 maker of smartphones was light years away in 1997; nevermind a cool $25 billion in cash and no debt; its marketshare is increasing everyday; and its savior CEO is paid $1 per year.
Here's an interesting article by Bob Cringely.. on what would happen if a visionary of the "New Economy", aka Steve Jobs, took on a dinosaur of the"Old Economy" General Motors.
Things would definitely be different with a plethora of new ideas and innovation; pricing would always be falling as is the nature of the tech business; depreciation would be typical as is both industries today: where new models once out of the salesroom floor would be worth significantly less but would mean lightspeed product cycles in the industry.. a new revamped GM 'iCar' every season? And, with Jobs being the largest shareholder of Disney now because of the sale of Pixar, GM's future potential would be only limited to their imagination.
GM wouldn't need any bailout money at all anymore: GM shares would skyrocket on the very announcement of Steve Jobs taking over as CEO. GM probably could pay off the UAWs' pension debt with stock warrants and new issues alone.