A Pioneer Goes Bankrupt

Adam Osborne called himself the Henry Ford of personal computers and predicted his company would have sales of $1 billion by 1984. For a time those boasts seemed correct. He developed the first successful portable computer, the Osborne 1, packaged it with three popular programs, and sold the machine for an unusually low $1,795. Last year Osborne Computer rang up sales of about $70 million. But the firm could not maintain its success. In the past week it filed for protection under Chapter 11 of the Bankruptcy Code. While Osborne had virtually no income, it owed suppliers $45 million.

Osborne's problems began...

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