Word: fujitsu
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Dates: during 1980-1989
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...hornet's nest was stirred up in Washington last fall when Fujitsu, the Japanese electronics giant, proposed buying 80% of ailing Fairchild Semiconductor. Key Reagan Administration officials had serious worries about the sale of the California-based chip producer, which was to take place for an estimated $225 million. Earlier this month Commerce Secretary Malcolm Baldrige went public with his opposition, hinting at national-security concerns and stressing the need to protect America's enfeebled semiconductor industry. Last week Fujitsu dropped its controversial merger plan even as U.S.-Japanese friction continued to rise over the issue...
...fuss over Fujitsu's marriage proposal was colored by wider U.S.-Japanese trade concerns. Schlumberger, the French oil-services conglomerate that bought Fairchild in 1979, had spent $1.5 billion to prop up its subsidiary (estimated 1986 sales: $500 million). No national-security alarms were sounded over Schlumberger's control of the semiconductor firm, which, among other things, provides components for U.S. supercomputers and ballistic-missile systems...
...real worry about Fujitsu's bid was economic. U.S. manufacturers feared that the Japanese behemoth (1986 sales: $9.4 billion) would use Fairchild's U.S. distribution network to flood the American market with cheap microchip products. That view was underscored last week by a Commerce Department review that accused Japanese semiconductor producers of selling chips below market prices...
...part, Fairchild President Donald Brooks now says the company's managers will buy control of the firm. He proposed cooperation with Fujitsu on technology development and manufacturing in the U.S. and Japan, as well as an exchange of rights for new and existing products. Brooks excluded Fairchild's distribution network from any such cooperation...
...torrent of technology is turning the plain old telephone and its push- + button heirs into sophisticated electronic instruments. Among other things, they block out unwanted calls and listen to voice commands. -- Fujitsu drops its bid for Fairchild. -- Wall Street' s spreading scandal fells Stock Trader Boyd Jefferies. -- Independent filmmakers steal the scene in Hollywood...