Thomas Rattigan

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Thomas John Rattigan (born 20 July 1937 in Boston) is an American businessman.

United States Federal republic in North America

The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico. The State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean. The U.S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The extremely diverse geography, climate, and wildlife of the United States make it one of the world's 17 megadiverse countries.

Early life

Rattigan earned a BS at Boston College in 1960 and a MBA at Harvard Business School in 1962.[ citation needed ] He joined PepsiCo in 1970 where he rose to the position of CEO of PepsiCo International in 1982.

Boston College private research university in Chestnut Hill, Massachusetts, United States

Boston College is a private Jesuit research university in Chestnut Hill, Massachusetts. The university has more than 9,300 full-time undergraduates and nearly 5,000 graduate students. The university's name reflects its early history as a liberal arts college and preparatory school in Boston's South End. It is a member of the 568 Group and the Association of Jesuit Colleges and Universities. Its main campus is a historic district and features some of the earliest examples of collegiate gothic architecture in North America.

Harvard Business School business school in Boston, Massachusetts

Harvard Business School (HBS) is the graduate business school of Harvard University in Boston, Massachusetts. The school offers a large full-time MBA program, doctoral programs, HBS Online and many executive education programs. It owns Harvard Business Publishing, which publishes business books, leadership articles, online management tools for corporate learning, case studies and the monthly Harvard Business Review. It is home to the Baker Library/Bloomberg Center.

In 1985 Commodore, an early producer of home computers, hired Rattigan as COO intending to prepare him to become CEO (competitor Apple Computer had hired Pepsi president John Sculley in 1983).

Commodore International American home computer and electronics manufacturer

Commodore International was an American home computer and electronics manufacturer founded by Jack Tramiel. Commodore International (CI), along with its subsidiary Commodore Business Machines (CBM), participated in the development of the home–personal computer industry in the 1970s and 1980s. The company developed and marketed the world's best-selling desktop computer, the Commodore 64 (1982), and released its Amiga computer line in July 1985. With quarterly sales ending 1983 of $49 million, Commodore was one of the world's largest personal computer manufacturers.

Apple Inc. Technology company; developer of consumer electronics and multimedia platforms

Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Four of technology along with Amazon, Google, and Facebook.

John Sculley American businessman

John Sculley III is an American businessman, entrepreneur and investor in high-tech startups. Sculley was vice-president (1970–1977) and president of Pepsi-Cola (1977–1983), until he became chief executive officer (CEO) of Apple Inc. on April 8, 1983, a position he held until leaving in 1993. In May 1987, Sculley was named Silicon Valley's top-paid executive, with an annual salary of US$10.2 million.

In 1986 Rattigan took over as CEO from Marshall F. Smith. He continued the downsizing his predecessor had initiated, cut unprofitable product lines and initiated the development of two more models of Commodore's flagship Amiga 1000 computer. [1]

Amiga 1000 home computer

The Commodore Amiga 1000, also known as the A1000 and originally marketed as the Amiga, is the first personal computer released by Commodore International in the Amiga line. It combines the 16/32-bit Motorola 68000 CPU which was powerful by 1985 standards with one of the most advanced graphics and sound systems in its class, and runs a preemptive multitasking operating system that fits into 256 KB of read-only memory and shipped with 256 KB of RAM. The primary memory can be expanded internally with a manufacturer-supplied 256 KB module for a total of 512 KB of RAM. Using the external slot the primary memory can be expanded up to 8.5 MB.

Despite turning the company from a US$237 million three-quarter loss to a $22 million profit in one quarter, Rattigan was fired by major shareholder Irving Gould, who temporarily took over as CEO. Rattigan sued Commodore for $9M of lost income [ citation needed ].

Irving Gould (1919–2004) was a Canadian businessperson credited with both saving and sinking Commodore.

In 1991 Rattigan was appointed by the court as CEO of G. Heileman Brewing Co. He steered the company through bankruptcy and left in 1994, pocketing almost $20 million in severance pay. "You can't say he did a terrible job with Heileman. But he certainly didn't turn it around", PaineWebber analyst Goldman told the Wall Street Journal in 1996. [2]

G. Heileman Brewing Company

The G. Heileman Brewing Company of La Crosse, Wisconsin, United States, was a brewery firm that operated from 1858 to 1996. It was ultimately acquired by Stroh's, and its independent existence ceased. From 1872 until its acquisition, the brewery bore the family name of its co-founder and brewer Gottlieb Heileman.

Bankruptcy legal status of a person or other entity that cannot repay the debts it owes to creditors

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

In 1996 and 1997 Rattigan headed financier Carl Icahn's slate for the RJR Nabisco board, netting him $2 million in salary. [3]

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References

  1. Jeremy Reimer (2008-02-11). "A history of the Amiga, part 6: stopping the bleeding". Ars Technica. Retrieved 2016-02-16.
  2. Susan Pulliam (1996-11-19). "Some Analysts Question Icahn's Choice for RJR" . The Wall Street Journal. Retrieved 2016-02-16.
  3. Glen Collins (1997-02-28). "Icahn Ends RJR Nabisco Proxy Fight". The New York Times. Retrieved 2016-02-16.