Word: haloid
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Dates: during 1960-1969
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Name Changes. The 914 is the result of a long-range, $40 million gamble by scholarly Xerox President Joseph Wilson, 53. When Xerox (then called the Haloid Co.) came out of World War II, it was a producer of photographic and photocopy papers and machines with annual sales of $6,750,000 and an uninspiring future. Wilson decided to create a new future by betting all on a new process called xerography (derived from Greek and meaning dry writing), which showed promise of reproducing papers and documents without the standard need for chemical developing. He bought some of the rights...
After years of work in the lab to improve the process, the company finally began to market a crude copying machine in 1950, but sales were disappointing. Changing its name to Haloid Xerox Inc., the company kept working on improvements and in 1960 introduced the 914. It was an immediate hit, and Xerox's sales began a spectacular climb, rising from $31.7 million in 1959 to $104.5 million last year. Earnings rose from $2,100,000 to $13.9 million. "In 1963," says Wilson, "we believe that over 2.3 billion pictures will be made on the 914, and each picture...
Inventive Brains. The hottest growth stocks are those that have the extra ingredient of glamour: a unique or fascinating product, or even the possibility of developing one. Born of an age of rockets and missiles, their companies bear such intriguing names as Itek (information classification), Haloid Xerox (office copying), Transitron (transistors), Ampex (tape recorders). Ionics (electrically charged filters that desalt water), and High Voltage Engineering (electronu-clear machines...