Word: burroughses
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Dates: during 1980-1989
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Despite these inauspicious beginnings, the little school that Cotton Mather called a "college of divines" slowly grew. William Stoughton, '50, who grimly sentenced 20 people to death for witchcraft, was the first alumnus to donate a building. (By contrast, the Rev. George Burroughs, '70, duly became the only Harvard man...
Now that Burroughs and Sperry are merging, the computer companies have hired a consultant to think up a new name for the combined firm. They are offering a $5,000 prize if an employee comes up with a better moniker.
With combined revenues of $10.7 billion, the new company, which has yet to be named, will easily pass Massachusetts-based Digital Equipment (1985 revenues: $7 billion), the current No. 2 computer maker. Blumenthal, 60, who will be chairman, said the Burroughs-Sperry combination hoped to slash costs and boost profits...
Burroughs first approached Sperry's board of directors last year, with a $65-a share offer. Sperry, which was trading at $55 a share, rejected the bid as inadequate, but became concerned that Blumenthal would try a hostile takeover. Probst reportedly talked with several other firms, including General Dynamics and...
While the new firm will have some 12% of the world market for mainframe computers, it will still be hard pressed to challenge mighty IBM, which controls nearly 63%. Critics note that Burroughs and Sperry computers do not run the same programs and thus cannot be linked together. Some customers...