Word: ibm
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Dates: during 1970-1979
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During the past year or two, federal trustbusters have gone after some of the biggest names in U.S. business. Antimonopoly suits are now in various stages of litigation against several giants, including AT&T, IBM, Firestone, Xerox and the big three in the rental-car field: Hertz, Avis and National. Last week the Justice Department turned its attention to some of the biggest banks and insurance companies, charging that they too are in violation of U.S. antitrust laws...
...when he was deputy chairman, Davis was responsible for a master stroke. He had Rank buy $2.8 million worth of stock in U.S. Haloid Co., now Xerox Corp., after both RCA and IBM had passed up the opportunity. That investment has since metamorphosed Into a 49% share of Rank Xerox, a Xerox division responsible for all sales of copiers outside the Western Hemisphere and the Far East; it returned Rank profits last year alone of $129 million. After that coup, though, Davis seemed to lose his touch...
...city is nonetheless getting some help. Last week twelve big corporations with headquarters or major operations in New York, including Exxon, Union Carbide and IBM, agreed to buy $20 million of bonds to be issued by the Municipal Assistance Corp., a state corporation that is raising money for the city. (Older, higher-yield MAC bonds have been holding steady in price.) The EFCB and city hall are fashioning a new, presumably realistic budget for the present fiscal year, which Beame will announce on Oct. 20. In December, though, the money crunch begins anew: the city will have to come...
Junk thought. No graduate of the Wharton School of Business ever pur sued his ambitions at IBM with as much single-mindedness. Mark had all the inverted status symbols: a trusty old Volkswagen, a loyal mongrel dog, a commune in a good neighborhood and a larder stuffed with choice grass and macrobiotic snacks. But there is a serpent in every Eden; Mark's was mental illness...
...good will. Philadelphia's Olney Federal Savings & Loan is running a series of ads honoring Revolutionary women. Chase Manhattan Bank has put up $100,000 to help finance an exhibit called "200 Years of American Sculpture" that will open at New York's Whitney Museum next March. IBM has offered $500,000 to help pay for a multimedia exhibit, "The World of Franklin and Jefferson," that is now touring Europe. But these projects are vastly outnumbered by the kind described by Robert Freedman, president of Streisand, Zuch & Freedman, a New York ad agency. Says...