What Gateway's Rick Snyder learned from Apple's Steve Jobs
In 1997, Apple visionary Steve Jobs rejoined the struggling computer company that had fired him in the 1980s.
Also in 1997, Rick Snyder resigned as an executive at South Dakota-based personal computer maker Gateway Inc. and moved back to Michigan to launch a career as a venture capitalist.
Snyder, elected governor of Michigan in 2010, was a top executive at Gateway from 1991 to 1997 when the company went from fewer than 1,000 employees to more than 10,000. He did not personally know Steve Jobs.
But Snyder said today that he counts himself as an admirer of Jobs' leadership and accomplishments as a technology executive.
Jobs, in fact, is credited with rescuing and rebuilding Apple, which was near insolvency when he returned to serve as CEO in 1997.
Snyder did temporarily compete directly with Jobs when he served as interim CEO of Gateway for about eight months in 2006 while the company was in between executives.
"Actually at Gateway I lived the whole cycle, when (Apple) first took off to when they almost crashed and how they came back," Snyder told reporters this morning after a cybersecurity event in Ypsilanti. "And to his credit, Steve Jobs was truly a visionary and an inventor and we should be so proud. I view it as a great role model."
Although Gateway performed much better financially than Apple in the 1990s, Gateway quickly declined in the years after Snyder resigned but was still serving on the company's board of directors.
Meanwhile, Jobs helped Apple get back on course, reconfiguring its computer lineup and introducing the iPod in 2001. Today, Apple's stock makes it the most valuable company in the world.
Snyder said he views Jobs as similar to Michigan's entrepreneurial legends.
"We had people like Henry Ford," he said. "Steve Jobs is a modern-day equivalent of some of those kind of achievements. And the question here in Michigan is: How do we make sure our young people are the next generation of Henry Fords and Steve Jobs? We’ve got the talent here."
Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.
Comments
Veracity
Thu, Oct 13, 2011 : 1:50 p.m.
PART 2 - Rick Snyder's Ardesta, LLC is credited with financing Discera, Inc., which builds micro-electrical systems (MEMS). Discera is linked to the transfer of industrial intellectual property to China that provides China with a manufacturing advantage over the United States. <a href="http://detnews.com/article/20101012/POLITICS02/10120358/Bernero-hammers-Snyder-on-Discera" rel='nofollow'>http://detnews.com/article/20101012/POLITICS02/10120358/Bernero-hammers-Snyder-on-Discera</a> According to a company news release on July 19, 2010: <a href="http://www.discera.com/AnnouncementRetrieve.aspx?ID=52272" rel='nofollow'>http://www.discera.com/AnnouncementRetrieve.aspx?ID=52272</a> Chief Technology Officer Dr. Wan-Thai Hsu hosted the opening of the Discera, Inc. China Applications Center. "By sharing our expertise in semiconductor timing, power reduction, and MEMS technology and sponsoring local research and development, Discera is helping Chinese businesses compete and win in the global marketplace," said Dr. Hsu. "Discera leads with service and wins with reliability. Our newest facility will dramatically reduce both development and production lead times for customers accustomed to older technologies." As of October 10, 2010, Discera had 41 employees, including 14 in Asia, six in Ann Arbor and the rest in California. When you are thinking of Rick Snyder's accomplishments, keep this one in mind.
Veracity
Thu, Oct 13, 2011 : 1:37 p.m.
PART 1 Another unwarranted admiration article about Rick Snyder. "Facts" presented in the article regarding Rick Snyder professional background need clarification: First, Gateway Computers was formed in 1985 by Ted Waitt and Mike Hammond. By the time Rick Snyder was hired as an executive vice-president in 1991, Gateway Computers was already successful. What increase in jobs at Gateway Computer can be credited to the efforts of Rick Snyder is unclear. Rick Snyder gave up his position at Gateway Computers in 1997 but retained membership on its Board of Directors and was its chairman from 2005 to 2007. He was involved in the decisions to outsource manufacturing to China and then to Mexico. In 2006 he became interim CEO for six months as Gateway Computers sales declined. In 2007 Gateway Computers was sold at a fraction of what it had been previously worth. Secondly, Rick Snyder created Avalon Investment, Inc. and Ardesta, LLC, venture capital firms. Reportedly, he raised $100 million for distribution to fledgling companies. However, the companies created and supported by Rick Snyder's venture capitalism produced few jobs for Michigan and how many of the original jobs still exist is uncertain.
say it plain
Sun, Oct 9, 2011 : 2:46 p.m.
omg, I reluctantly finally clicked on this story lol....the synder fan lovefest was predictable of course, but that there would be no actual information or story about how snyder had some connection to or something interesting to say about Jobs was a bit of a surprise!
DBlaine
Sat, Oct 8, 2011 : 3:24 p.m.
I agree with A2comments. If you're going to call an article, "What Gateway's Rick Snyder learned from Apple's Steve Jobs," shouldn't you say what Snyder actually learned? Even in blogland?
A2comments
Sat, Oct 8, 2011 : 11:27 a.m.
"What Gateway's Rick Snyder learned from Apple's Steve Jobs" I read the article and don't see what he learned discussed...
godsbreath64
Sat, Oct 8, 2011 : 3:23 p.m.
Ya that would be Nathan Bomey, once again
Tru2Blu76
Sat, Oct 8, 2011 : 3:07 a.m.
Steve Jobs was a determined man who never stopped in the face of major obstacles and disappointments in his early life. Steve Jobs went on to rescue Apple after his return and he did that by coming up with new twists on existing technology. Jobs NEVER invented anything: he hired engineers to work on his new applications of existing technologies. His company NeXT created an operating system built mainly on Free BSD (which meant they never had to pay for a software license). Those are Jobs's contributions: he was one of the greatest salesmen of all time. But he sold only "his" pet projects, so naturally he was enthusiastic and believed in what he was doing. So STOP calling Jobs an "inventor" - he was an innovator using existing technologies in improved ways. Snyder: His spiel about admiring Steve Jobs and his GRAB for association with Jobs is another sign he's a phony. I'm glad to see the skepticism and jeering directed at Snyder, it shows people are waking up to being duped (again) by the Republican Publicity & Propaganda Ministry. Snyder not only never invented anything, he never innovated the way Steve Jobs did. By his own account, his work as a "CEO" was just Phase One for him, he went on to become an "entrepreneur" which was his Phase Two. Entrepreneurs: are people who take risks with other people's money. So the job of governor is PERFECT for Ri¢k $nyder - only he's risking (and LOSING) Michigan's economy in his Phase Three role.
godsbreath64
Sat, Oct 8, 2011 : 4:03 a.m.
That is just outstanding.
David Briegel
Sat, Oct 8, 2011 : 3:29 a.m.
Excellent analysis and commentary! Although you have to give it to Snyder for the slickest marketing campaign in an election. He packaged his "product" and sold it to an anxious electorate!
tom swift jr.
Sat, Oct 8, 2011 : 1:10 a.m.
I hate the fact that snyder and Jobs are even mentioned in the same article. snyder ran his company into the ground, Jobs changed the world.. sheesh
Dirtgrain
Fri, Oct 7, 2011 : 7:52 p.m.
"Senator, you're no Jack Kennedy." Governor, you're no Steve Jobs.
David Briegel
Fri, Oct 7, 2011 : 4:45 p.m.
China is better because of the "benevelonce" of Mr. Snyder!
Joe_Citizen
Fri, Oct 7, 2011 : 4:35 p.m.
So, OK, RIP Steve Jobs, now that that is over can we get onto other more important business, like the protests on wall street that no news media is allowed to cover, except for the independents that are still going.
alan
Fri, Oct 7, 2011 : 4:16 p.m.
Is AA.com now RickSnyder.com? 15 years at Gateway resulted in the destruction of tens of thousands of jobs and the ultimate sale of Gateway to a Chinese company for less than the initial public offering. Negative change in equity in 15 years yet he has "business experience". Venture capital made Rick rich. The whole point of a free market economy is that those who most efficiently distribute limited resources will make a profit and continue, not to make individuals rich. We seem to have forgotten that. I can't figure out how Mr. Snyder has benefited anyone but himself.
Veracity
Thu, Oct 13, 2011 : 12:53 p.m.
Ditto
godsbreath64
Fri, Oct 7, 2011 : 4:29 p.m.
Thank you!
godsbreath64
Fri, Oct 7, 2011 : 4:09 p.m.
*Shocker Alert* More waste of perfectly good bandwidth from Nathen's sandbox.
snark12
Fri, Oct 7, 2011 : 3:29 p.m.
For all of Apple's struggles and ultimate success, I never once heard Jobs say that corporate tax rates were preventing his business from growing.
snark12
Fri, Oct 7, 2011 : 8:15 p.m.
PS I should have also pointed out on the same chart that total tax revenues dropped precipitously after 2000 after the Bush tax cuts were put in place. Again, lowering tax rates does not lead to an explosion in tax revenues.
snark12
Fri, Oct 7, 2011 : 7:54 p.m.
Hammer, I was mainly referring to the 90s, when Apple was doing poorly, or to the last ten years when their profits (and therefore taxes) exploded. But, regardless, your claim isn't really supported by the evidence. Here's a chart of federal tax revenue over the decades: <a href="http://www.heritage.org/budgetchartbook/federal-government-revenues" rel='nofollow'>http://www.heritage.org/budgetchartbook/federal-government-revenues</a> Corporate taxes stayed flat to fell in the 80s when tax rates were reduced. Total tax revenue did go up but only about 25% over the course of the 80s. Tax revenues did go up about 70% during the 90s...after Clinton raised the tax rates slightly. Note: Corporate taxes barely budged during that time. The revenue increases were mainly due to the burgeoning economy and the population's greater income. The old saw that lowering tax rates increases revenue just doesn't hold water, which really shouldn't be too surprising.
Hammer
Fri, Oct 7, 2011 : 5:18 p.m.
There were generous investment tax credits in place during the '80s. High tech industries enjoyed explosive growth. Federal tax receipts doubled even while tax rates were lowered.
kmgeb2000
Fri, Oct 7, 2011 : 3:42 p.m.
Not only that he was not merely a bean counter for Apple. Snyder was a Gateway bean-counter but it was Tedd Waitt who played the Henry Ford role. Now through the Waitt Foundation, Waitt has become one of America's 50 most generous philanthropists, according to Business Week. Snyder had better things to do with his money.