Irving Gould was a Canadian financier and chairman of Commodore International. Although it’s an oversimplification, journalist Robert X. Cringely dismissed the once high-flying computer company, which had 60% of the market in 1984, as Irving Gould’s stock scam.
My new mortgage company wants to see the balance of my 401(K) account. That turned out to be a bit of a problem, but for the right reasons.
You see, I might or might not get 401(K) statements. I don’t look at them. Sometimes I save them. Usually I don’t. So I hadn’t looked at my 401(K) balance in years, and I really only had a vague idea what was in it. I knew there ought to be enough to make the lender happy.
What I found when I finally got my hands on a statement shows why part of my strategy is to never look at the account. Read more
From time to time, I see the phrase “Commodore stock scam” or something similar come up in discussion or in books. Commodore, in case you don’t know, was a high-flying computer company in the 1980s that was literally making computers as quickly as they could sell them while Apple struggled for its survival, and was in the enviable position of being the main supplier of chips for its competitors. Imagine if Intel sold computers at retail next to HP and Dell, while still selling chips to Dell. That was Commodore in 1984. I don’t have 1984 figures, but in 1985, Commodore had 38% of the computer market all to itself. IBM and its clones, combined, had 49%. Apple had 13%.
But a decade later, Commodore had squandered all of that away and was out of business. That’s why Robert X. Cringely sums up Commodore as Irving Gould‘s stock scam, then goes back to writing about Apple.
The real story is more complicated than that. More interesting, too.
I grew up on the Commodore 128. We got one for Christmas 1985 (an upgrade from a Commodore 64). It was a bit of a quirky machine, but I liked it.
On the retro computing forums, it might be the most controversial thing Commodore ever did. Which says something, seeing as some computer historians have summed up Commodore’s history in four words: Irving Gould‘s stock scam. But that’s another story.
The cool thing about Commodore was that its engineers weren’t shy about talking about their projects. Bil Herd, Fred Bowen, and Dave Haynie have all weighed in over the years, talking about what they did and why and what they would have done differently.