Word: ibm
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Dates: during 1970-1979
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Like other brokerage heads, Regan may now feel that he expanded his firm more rapidly than trading volume warranted. Last year he moved headquarters to a lavish building on lower Broadway. Two years ago he enlisted IBM to put in a computerized communications system with a terminal for each broker; the project has since been shelved...
...IBM's Stateside competitors have also long been called the Seven Dwarfs...
...similar agreement may be in the works between Britain's International Computers Ltd. and Germany's AEG-Telefunken and Nixdorf Computer companies, all of which make computers that are incompatible with IBM's. ICL is the only European firm that is turning even a marginal profit on its computer operations-in no small mea sure because of some $80 million in government subsidies that it has received since its creation in 1968 by the merger of two smaller firms...
...what the European Economic Community has in mind. It would prefer European computer firms to unite in one association producing a single line of compatible computers using the same hardware and software. Only through affiliation on this scale, the EEC believes, can European concerns compete strongly against IBM, which controls its huge market slice largely because of its sheer size. With revenues last year of $9.5 billion, IBM had enormous resources to commit to research and marketing. The revenues of the largest European-based computer maker, ICL, were about $450 million...
...IBM faces pressures at home as well as abroad. Last week the Justice Department asked a federal judge to hold the company in contempt of court un less it produces some 1,200 internal documents that the Government says it needs for a longstanding antitrust suit. The EEC too would like to see Snow White split up into several parts, even though that, admits Christopher Layton, the Common Market Commission's director for advanced technology industries, "wouldn't solve the competition problem." The solution will require an intensive sales program to convince European buyers that home-grown computers...