Word: groving
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...Andy Grove is so smart and technology companies so hot, why are Intel and just about every other tech stock falling off a cliff? Wasn't it only four months ago that our Man of the Year's company proudly sported a $100 stock? Now it's at about $70. Click on that, new-era geeks. The stock market may be chaotic and irrational from day to day, but over longer periods it's a pretty fair measuring stick for what's coming. The message here is that no boom lasts forever, and the one that Grove and tech...
...while. It's worth noting, though, that even with its recent 30% decline, Intel's shares are up fourfold in three years. Tech stocks, on average, have risen about twice as fast as the Dow Jones industrial average since June 1994. That pace was unsustainable no matter how much Grove and company may change the world...
...were magnetic. In a year filled with world-shaking events, the overriding story was the economy, but the driving force behind the economy has clearly been technology. And no one has done more to further technology's long march than our 1997 Man of the Year, Andrew Grove, the 61-year-old high-tech impresario who came to America a penniless refugee and went on to make Intel the Silicon Valley powerhouse whose microprocessors run 90% of the world's personal computers...
...with last year's selection, AIDS researcher Dr. David Ho, our choice is less a nod to one striking year than an acknowledgment of the culmination of an ongoing process. Intel's chips have been around for nearly three decades, but 1997 was the year Grove's life's work reached full flower. It was the year cell phones, Websites and E-mail became ubiquitous, the year the global economy, for good and ill, became an undeniable reality. Intel chips hum at the center of everything from coffee machines to Hollywood's special effects to Wall Street's trading desks...
...Grove gave TIME unprecedented access to his life and work. He spoke with startling candor about such experiences as the Holocaust and the scarlet fever that left him hearing impaired. He also shared his wit and warmth with TIME editors at dinner at his rambling ranch house. Sitting around the table was Intel's past, present and future: Grove's wife Eva, who fell in love with him when he was working as a busboy; Gordon Moore, Intel's first CEO and Grove's mentor; Arthur Rock, the venture capitalist who underwrote the company in 1968; and Craig Barrett, Intel...