Word: businessland
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Tough times in the computer industry mean misery for computer retailers. Just ask Businessland: last week the San Jose hardware dealer announced a third- quarter loss so drastic -- $43 million -- it may file for bankruptcy...
Founded in 1982, Businessland became corporate America's one-stop shop for ! personal computer systems, mainly from blue-chip makers like IBM and Apple. But as Businessland's fortunes rose, so did those of mail-order boutiques and aggressive superstores offering deep discounts. Meanwhile, Businessland stumbled by launching price wars while ignoring rising inventory and changes in customer needs. The company's key lender, ITT Commercial Credit, has announced that it will jump ship by the end of June. Now Businessland must persuade remaining lenders to extend its loan payments. Observes computer industry analyst Douglas Kass: "The coffin is lying...
...personal-computer market, while IBM's share has fallen to 33%. Says John Roach, chairman of Tandy, which manufactures a $999 model: "1986 will be the year of the PC-compatible." In the past few weeks the field has grown still more crowded. Two big California retail chains, Businessland and Compu terland, said they would begin marketing IBM-compatibles under their own names...
...relentless overachiever since he joined the blue-chip San Francisco venture capital firm of Kleiner Perkins Caufield & Byers in 1980. Three years later Doerr became one of five general partners (there are seven today). Among the companies that he has spotted for investment are Cypress Semiconductor, Sun Microsystems and Businessland, all Silicon Valley firms involved in various aspects of the computer field. Doerr's choices have earned an estimated $260 million in venture profits. Nonetheless, Doerr insists, "money is not a goal. I enjoy building things with other people...
...caught the fancy of some Fortune 500 companies, a mar ket Apple had temporarily abandoned to IBM's more seasoned direct-sales force. The accounting firm of Peat, Marwick, Mitchell & Co. has ordered 3,500 Macintoshes for use in its 200 offices around the country. Later this month Businessland, a computer distributor that had previously concentrated on IBM machines, will add Mac to its product line. Two other national retail chains, ComputerLand and Sears, are reported to be eyeing the new Apple...