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In 1997, he bought Tandem, a manufacturer of high-end servers.
Schrempp was the architect of the 1998 merger of Daimler and Chrysler, which he called a merger of equals.
Shaheen joined Webvan in September 1999 after being the head of Andersen Consulting, later renamed Accenture.The company, one of the largest start-ups during the Dot-com Bubble, was set up to take grocery orders over the Internet and deliver the orders within 30 minutes.
When he joined the company in 2000, it was still a formidable force in the US retail space, despite its lackluster performance over the prior 15 years.
The company spent $1.5 billion over a year and a half period, beginning in 2000.
In 2001, eBay bought PayPal and Musk was the largest stakeholder in the company at that time, with stocks valued to be worth more than 1.5 billion.
The tech and telecom downturn of 2001 began to undermine Worldcom’s earnings and over the next two years, the efforts to manipulate the company’s financial results became more aggressive.On top of this, Ebbers needed to sell large portions of his own Worldcom stock, to support his lavish lifestyle.
The Worldcom board, fearing Ebbers’ sales would destroy the firm’s share price, made him a series of loans.In 2002, internal auditors discovered that Ebbers’ efforts were the cause of a $3.8 billion financial fraud.
Compaq was sold to HP in 2002.
He was eventually charged with stealing nearly $100 million. It had cable systems in over 30 states.In 2002, the company filed for bankruptcy, in part because Rigas had siphoned off money to fund other companies owned by his family.
Later in 2003, he founded Tesla Motors, which he intended to be the first mass-producers of electric vehicles.
With social media platforms like Twitter and Facebook gaining large followings in 2006 came another new technology available for promotional use.
These derivatives had been a major source of revenue for CountryWide and in August 2007 it was near financial collapse.
Who's Who in Corporate America. by Marquis Who's WhoCall Number: HD38.25.U6 W476Published/Created: 2011-Provides over 30,000 biographies of America’s top executives at the country’s largest companies.
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