McNealy: Sun Is the Next Apple; Shareholders Take Aim at Sun

Sun CEO Scott McNealy likened himself to Steve Jobs and his company to Apple Computer on the brink of launching the iPod at a convention Tuesday, suggesting the server maker is poised for take-off. Sun has been on a five-year stock slide, having lost about 90 percent of its share price since January 2000. It has not had a year of positive net income since its fiscal year 2001. In the meantime, shareholder activists are calling for Sun to do away with its “poison pill” takeover defense and realign its executives’ stock option plan to be more performance-based, according to a Sun proxy filed Tuesday.

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