Word: hyatt
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TIME's Money Angles columnist offers survival guidelines for a time of economic turmoil. -- Who invented the microprocessor? Gilbert Hyatt...
...Patent and Trademark Office registration number is tough to remember -- 4,942,516 -- and the holder of the patent, a Los Angeles inventor named Gilbert Hyatt, is a virtual unknown. But Hyatt, 52, has suddenly carved a memorable niche for himself in the multibillion-dollar semiconductor industry. Last week, after a 20-year battle with the patent office, the tenacious engineer announced that he had finally received a certificate of intellectual ownership for a single-chip microprocessor that he says he invented in 1968. The announcement sent shock waves throughout the computer industry, which could be forced to pay Hyatt...
Most business texts credit engineer Ted Hoff at Intel Corp., based in Santa Clara, Calif., with having fathered the microprocessor between 1969 and 1971. But Hyatt asserts that he put together the requisite technology a year earlier at his short-lived company, Micro Computer Inc., whose major investors included Intel's founders, Robert Noyce and Gordon Moore. Micro Computer invented a digital computer that controlled machine tools, then fell apart in 1971 after a dispute between Hyatt and his venture-capital partners over sharing his rights to that invention. Noyce and Moore went on to develop Intel into...
Like it or not, Cuban officials are apparently preparing for the inevitable: life after the disappearance of the yearly $5 billion in Soviet aid. Twice within the past year, the heads of giant American hotel chains -- Curtis Carlson of Radisson and Jay Pritzker of Hyatt -- were invited to pay secret visits to the island. Once there, flown in surreptitiously via Mexico City, the Americans were shown scale models of prime beachfront property and asked to select one for future development. Intriguingly, these displays were set up just outside Fidel Castro's office in Havana. Castro was nowhere in sight during...
Trump built his empire on rising land values. New York City was flirting with bankruptcy in 1976, when, at 30, Trump and hotel magnate Jay Pritzker bought the run-down Commodore Hotel at Grand Central Terminal for $10 million. The partners tore down the Commodore and built the Grand Hyatt luxury hotel in its place. The city recovered, and the hotel's value (current estimate: $70 million) soared with it. Borrowing against his stake in the Hyatt, Trump parlayed his first success into more and more prime real estate...