Word: atari
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...Leonard began conglomerating in the 1960s. They shifted from leather into plastics and soon became the world's largest manufacturer of above-ground swimming pools. That was a seasonal business, so they bought a snowmobile manufacturer and suffered heavy losses during the mild winter that followed. They admired Atari's pioneering home video game, Pong, and they made a fortune on an imitation named Telstar. But they overinvested in that, lost $22 million in 1978 and nearly went bankrupt. Then they gambled heavily on ColecoVision, which could play both Atari and Mattel games. It is still selling well...
Chemical Bank last month began advertising its new Pronto system. With a TV set, an Atari 400 home computer (cost: about $60) and a modem ($75) to connect the terminal via a telephone line to the bank's computers, Pronto will do nearly every banking chore except dispense cash. Patrons can check their balances 24 hours a day, transfer money from one account to another, keep records on five separate budgets for such expenses as travel or household bills, and pay bills to about 350 companies ranging from Bloomingdale's to American Express. If the customers have...
...long-awaited machine has been causing other computer makers to tremble. Two weeks ago, Atari disclosed that it was delaying plans to market two advanced home computers. Many analysts attributed that postponement to fear of the PCjr. So intense have expectations grown in the face of IBM's silence that the mere rumor of an announcement can shake a competitor's stock. As recently as Sept. 28, the shares of four computer makers lost $340 million in combined total value after two Wall Street analysts predicted that the PCjr would arrive this fall...
...industry leaders the crunch arrived with spaceship speed. Until last year Atari and Mattel were the major competitors. Between 1979 and 1982 their profits surged from less than $80 million to $471 million, and the potential seemed unlimited. But their triumphs attracted a fleet of market invaders, including Coleco, Imagic, CBS, 20th Century-Fox, Parker Bros. Milton Bradley and Avalon Hill. By the end of last year, at least 30 firms were in the battle...
While trying to keep customers excited, the video-game industry is being buffeted by the boom in home computers, which can be used to play electronic games. Price wars have pushed the cost of some home computers, including models from Commodore and Texas Instruments, below $200. As a result, Atari and Mattel machines that do nothing but play games are becoming less attractive and must often be discounted. An Atari 2600 game player, which once cost $150, is now available for as little...