Word: avidity
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Tewksbury, Mass., used to be known for its carnation industry. Now it nurtures something far more fragile--the images of Julia Roberts, Russell Crowe and just about every other TV and film actor. Located half an hour north of Boston, Tewksbury is home to Avid Technology, whose 1,700-plus employees are resisting the attempts of Japanese giants Sony Corp. and Matsushita Electric Industrial (the parent company of Panasonic) to penetrate the fast-growing market for digital video-editing software...
Founded in 1987, Avid makes tools that allow editors of movies and TV shows to manipulate the images, voices and surroundings of the stars. Avid has won 45% of a professional computer-based editing and special-effects global market, worth $1 billion last year and expected to double by 2005. Its closest competitor, Discreet Logic, a division of Autodesk based in Montreal, has 30% of the market. Sony and Matsushita have managed to win only 15%, even though they dominate electronics hardware...
...does little Avid, with a market cap of $415 million, stay ahead of $75 billion Sony and $40 billion Matsushita? For starters, the company carved out its niche early by mastering the difficult art of making its product easy to use. "Avid is the most intuitive editing environment on the market," says Gene Munster, an analyst at U.S. Bancorp Piper Jaffray. Tim Squyres, film editor for Crouching Tiger, Hidden Dragon, says, "Avid's software has gone through many revisions of being designed to accommodate editors...
Rubin is an avid fly fisherman who often flies his own plane to remote areas in order to pursue his hobby. On one occasion, Rubin flew his own plane to Vermont so he could fish after speaking at an engagement...
...seater sent Shah Dev off to many sites outside Boston. Shah Dev was an avid traveler, visiting New York City and other places on weekends, Beales says. During spring break, he and Shrestha drove all the way to Florida, Pankauz Shrestha says...