Acquicor Tech Enjoys Apple's Halo

Updated from 12:54 p.m. EST

The IPO propsectus is more than a detailed introduction of a company going public. It's the stock market's Breathalyzer: Its reading can tell you whether executives and investors in a company are operating under the influence of some reality-distorting substance.

And there are some hearty fumes coming off the prospectus from Acquicor Technology, a Newport Beach, Calif.-based company founded by Gil Amelio, best remembered as a former CEO of Apple Computer, who, in exchange for a $2.5 million-a- year salary and a $5 million loan, presided over declines in Apple's earnings, market share, headcount and stock price.

After Steve Jobs replaced Amelio, Apple's stock rose nearly 20 times over. Amelio went on to become a venture capitalist and consultant. One of his firms, AmTech, went bankrupt in 2003. ...