Word: foundered
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Dates: during 1980-1989
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...Rand general manager who started the company in 1957, had managed by the early 1960s -- with a staff of only a few thousand employees -- to take the industry lead in building high-speed computers for scientists and engineers. But as the company grew and prospered during the 1970s, the founder's interests began to wander toward wide-ranging and public-spirited ventures that diverted money and managerial attention. The company built factories in low-income regions like Appalachia, tried to develop a technique for farming in rural Alaska, and ventured into insurance and consumer finance, among dozens of other pursuits...
...forced off the board of General Motors last December, many people wondered where he would park his $700 million settlement. Some of the money showed up in Silicon Valley last week: Perot announced he was buying a stake in Next, the computer venture of Steve Jobs, the co-founder and former chairman of Apple Computer. For $20 million, Perot, 56, joins the Next board and gets 16% of a company that is at least a year away from shipping its first product. Jobs, 31, will keep 63% for himself. "We feel we can call up Ross...
...Captain Power toys will face at least two rivals. Nolan Bushnell, the founder of Atari and now head of a toy company called Axlon, has developed Tech Force and the Moto-Monsters, a group of mobile robots that are scheduled to go on sale this month. The Tech Force robots will move in response to a cartoon show that will debut in the fall, as well as to commands from a keyboard. The starting price is high: about $250 for a set of two hero robots, two villainous ones and two keyboards. Another competitor will be World Events Productions...
Nordstrom was founded in Seattle in 1901 as a retail shoe store by a Swedish prospector, John Nordstrom, who had struck it rich in the Klondike. Now a publicly traded concern, the firm is still closely controlled by members of the founder's family and propelled by their hands-on style. Says Edward Weller, a senior analyst in the San Francisco office of the Montgomery Securities investment firm: "Nordstrom's movitates people, not just by paying them well but by congratulating them and encouraging them...
Although political dissidents in Yugoslavia enjoy a measure of freedom unusual in Communist countries, they are rarely permitted to travel abroad. Thus it came as a surprise last week when the Belgrade government issued a passport to its most vociferous critic, Milovan Djilas, 75. The internationally renowned author, a founder of Yugoslavia's Communist system and a top aide of the late Josip Broz Tito's, had been denied a passport for nearly 17 years...