Word: high-tech
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
General Motors Chairman Roger Smith was beaming with his lights on high last week as he celebrated the biggest and boldest acquisition in his company's history. Two years ago, Smith revealed that the world's largest automaker (1984 sales: $83.9 billion) was courting a mysterious "lulu" of a company, one that would help transform GM from something of a stodgy powerhouse into a high-tech star. Now the Detroit giant was driving off with its prize. After a contest in which it outbid Ford and Boeing, GM agreed to acquire Hughes Aircraft, a major defense contractor (1984 sales...
Barely pausing for breath, Smith has directed a far-reaching corporate reorganization and has been snapping up high-tech companies that make everything from industrial robots to computer software for artificial intelligence. Prior to last week's agreement, GM's boldest acquisition was the $2.55 billion 1984 purchase of Electronic Data Systems, the world's largest data-processing firm...
...While high-tech executives are jubilant and oilmen sigh with relief, builders and real estate operators are aghast. The tax changes specifically targeted at their industry, such as the extension of the "at-risk" rule for shelters and new guidelines on what profits qualify for capital-gains treatment, are just the start of their troubles. Like other businesses, they will get less generous deductions for depreciation, and that is an especially important item for them, since their business consists so heavily of dealings in those highly depreciable properties, buildings. Adding up all the ways in which realty taxes will...
Lewis will stay on as General Dynamics chairman until perhaps the end of the year to ensure a smooth management transition. His successor will not come from within the company, but is an outsider, Stanley C. Pace, 63, a West Pointer and currently vice chairman of TRW, a high-tech conglomerate based in Cleveland. Pace had been thinking of retirement, but decided instead to take on the tough General Dynamics assignment. Why stay in the fray? "That's a good question," Pace said at a news conference. "My wife asked me that." Lewis approached Pace to be his successor...
...Angeles indicted Richard Kelly Smyth, a California electrical engineer, on charges of illegally shipping 8,100 Krytrons to Israel without a required Government export license. The case is the result of a two-year U.S. Customs Service investigation called Operation Exodus, designed to stop the flow of military and high-tech equipment from the U.S. Smyth, 55, the owner of a small electronics consulting firm in Huntington Beach, is also charged with lying to authorities by falsely labeling the Krytrons "G-Dest," a term for general-destination, no-license- required goods, or "pentodes," which are used as voltage amplifiers...