Word: consortiums
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Even when the Government gives its blessing, U.S. microchip makers cannot bring themselves to collaborate. Their deep-down resistance to joint efforts came to the surface last week with the scuttling of U.S. Memories, a consortium formed seven months ago by American firms to compete in the Japanese-dominated market for memory chips. With such powerful backers as IBM and Digital Equipment, U.S. Memories planned to build a $1 billion plant to produce chips for everything from personal computers to missile-guidance systems. But a worldwide glut of memory chips, which has pushed prices lower, prompted many would-be investors...
...breakthrough was accomplished by skilled undercover work, Government officials told TIME. In the past, investigators had been unable to penetrate the closely knit fraternities formed by Japanese businesses. But in June 1986 the Naval Investigative Service adopted a new tactic when it began probing the Star Friendship Association, a consortium of 160 Japanese construction firms organized for the express purpose of raising prices on contracts at the huge U.S. naval base in Yokosuka...
Bush never wanted a new plane. Ronald Reagan never asked for one either. This was a classic case of creation by consortium: a dozen or so offices and agencies doing their jobs as best they know how. Nobody looked up and saw that their individual efforts had created a monster...
...most widely publicized high-tech initiatives. According to reports circulating in Washington, the Administration was determined to cut not only the $10 million it had pledged for research into high-definition television, but all federal support -- including $100 million in 1991 -- for Sematech, the Reagan-era industrial consortium designed to catapult the U.S. into the lead in the technologies for manufacturing computer chips...
...acquisition comes amid a surge of Japanese investment fueled largely by Tokyo's $52 billion trade surplus with the U.S. In September Sony agreed to acquire Columbia Pictures Entertainment for $3.4 billion. And just three days after the Rockefeller Center sale, a consortium led by Japan's Mori Building Development paid $300 million for 85% of Houston's Four Oaks Place office center...