Word: haloid
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Gambling Their Salaries. A Phi Beta Kappa graduate of the University of Rochester, Wilson briefly considered an academic career, then went to work for the Haloid Co., a photocopying firm that his grandfather had helped start in 1906. Shortly before he became president, the Government began drastically cutting back on its large wartime orders from Haloid, and Wilson started a search for new products. His chief of research. Dr. John Dessauer, showed him a 25-line abstract in a Kodak company journal describing a dry copying process that had been invented by Physicist Chester F. Carlson in the 1930s...
...work of small firms. Transistor radios were first sold in large volume by Sony, then a struggling young Japanese company; stainless-steel razor blades were introduced by Wilkinson Sword, a British firm that few Americans had heard of; dry copiers were invented by an obscure company then called Haloid Xerox; the picture-in-a-minute camera was developed by Polaroid, a firm with no prior experience in photography. Similarly, the fast, low-cost oxygen steelmaking process was first tried in the U.S. by the relatively small McLouth Steel Corp. in the mid-1950s. A decade passed before U.S. Steel...
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...