Word: firm
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Dates: during 1980-1989
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...Cray and the company he founded have decided to go their separate ways. In an unexpected move, the firm announced last week that it was splitting into two rival entities: Cray Research, based in Minneapolis, and Cray Computer, based in Colorado Springs and headed by Seymour Cray. The new company, financed with $150 million in cash and equipment from its parent firm, will devote itself to developing the long-awaited Cray-3, a computer that will compete head on with the next generation of supermachines produced by Cray Research. "It's a stunning development," says Gary Smaby, an analyst with...
...most enigmatic figures in computer science. A restless, rugged individualist of legendary idiosyncrasy (for many years he made a point of building a new sailboat every winter and, inexplicably, burning it in the fall), he has devoted his professional life, first at Control Data and later with his own firm, to building the world's most powerful computers. His track record: an unequaled series of five major computer designs dating back to 1960, each for what would be the fastest machine of its time...
Surprisingly, given the relative sizes of the two Crays, some experts voice more concern about the future of Cray Research than they do about Cray Computer. Few doubt that the smaller spin-off firm will be able to raise all the money it needs. As John Sell, president of the Minnesota Supercomputer Center, puts it, "Seymour is magic in this business." Whether Cray Research can flourish without its founding genius remains to be seen. Analysts say that within three to five years it should be clear whether the company has wisely cut its losses or created a killer competitor...
...late 1986, after the IRS dropped a tax case against Guess that had been initiated by Jordache, top agency officials began to investigate Saranow's possible role. The probe intensified in 1987, when Saranow's office dropped charges against Jeff Hamilton only days after that firm withdrew a lawsuit it had filed against Guess. Meanwhile, the IRS rejected Saranow's request to take a leave of absence and work for Guess, as his deputy, Howard Emirhanian, had done a year earlier. Saranow was cleared of charges of wrongdoing...
This summer, the experts say, everything old is gold again. "1989 has the makings to break all records," says Larry Gerbrandt of Paul Kagan Associates, a media-research firm. "We're seeing sequels to some of the most successful movies ever. And since no two of the big ones are being released head to head, each of them could hit a home run." Notes producer Laurence Mark: "Sequels aren't necessarily about a failure of the Hollywood imagination. They're about lowering risks." So why, in a business full of expensive risks, shouldn't Hollywood be allowed just one near...