Word: haloid
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Dates: during 1960-1969
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Protective Patents. Few histories of business growth are as dramatic as that of Xerox. Founded in 1906 as the Haloid Co., a maker of photographic papers, the firm prospered quietly until the early '40s, when noisy court battles erupted among its twelve founding partners-including Wilson's father, who eventually won control. When his turn to take over the family fiefdom came in 1946, Joe Wilson, then 36, found it faltering. Searching for profitable new business, he seized on a little-known copying process called "xerography," and in eight years raised some $87.6 million in loans and stock...
...Harvard Business School degree in 1949, quickly decided that "business is more interesting in the U.S. than in Canada." He almost changed his mind in 1954 when, after five years with small Lehigh Coal & Navigation Co., he went for a job interview at Xerox (then Haloid). "It wasn't very impressive," McColough recalls. "I went up to see one of the vice presidents and he had a workman's black lunch pail on his desk and his bookshelf was a painted orange crate." Then he listened to Wilson's spiel about xerography. "It was all promise...
Wilson assumed control of his father's Haloid Company in 1946 and within two years had committed the company (now Xerox) completely to xerography. I proved to be one of the most successful industrial developments of the decade. He was cited as "an eminent industrial reader and exemplary benefactor of education and public causes...
...moved up to chairman when Founder Rank retired two years ago, Rank's most spectacular sideline has been its entry into Xerox duplicating equipment. Searching for profitable ventures after the diversification decision, Davis in 1956 agreed to bankroll the U.S.'s struggling Xerox Corp. (then called Haloid Co.) in return for rights to make and market its duplicating machines outside the Western Hemisphere. Xerox, of course, has been a huge success. Result: Rank Xerox last year accounted for a third of the Organisation's profits. The company this year expects to distribute 15,000 machines, last week...
...company only $2.500 to make each 914. which rents for an average $5.000 a year (rates: $95 monthly and 3.5? for every copy over 2,000). American Photocopy, SCM Corp., and Charles Bruning Co. now sell rival electrostatic copiers, but they require special papers. Xerox (which dropped the Haloid from its name in 1961) will come out with a smaller, desktop 813 dry copier next fall (probable rent: $40 a month), is developing a machine to apply xerography to facsimile transmission of documents by radio waves. Though Wilson expects the demand for the 914 to begin to slacken after...