Your Fortune
Although it is still a truism in industry that "no one was ever fired for
buying IBM," Bill O'Neil, the chief technology officer at Drexel Burnham
Lambert, says he knows for a fact that someone has been fired for just that
reason. He knows it because he fired the guy.
"He made a bad decision, and what it came down to was, 'Well, I
bought it because I figured it was safe to buy IBM,'" Mr. O'Neil says.
"I said, 'No. Wrong. Game over. Next contestant, please.'"
-- The Wall Street Journal, December 6, 1989Pages
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