Word: ibm
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Dates: during 1970-1979
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...TIME Associate Editor Christopher Byron, is an ardent stoveowning votary. Byron, whose guide to new heat-saving gadgets accompanies Skew's story, has two wood stoves in his home. He adds: "I have fitted the house with every form of insulation and heat-saving device short of an IBM 370 to run the furnace." Among them: storm windows, weather stripping, a new DOUG BRUCE fuel-efficient oil furnace and a clock-timer thermostat that shuts off the furnace at night. "The temperature drops by only 15° with the heat off," says Byron, "and then we use electric blankets...
...when it can be used to cool the structures without consuming electricity. Skidmore, Owings and Merrill, the architectural firm renowned for its skyscrapers, is constructing an energy-efficient cube-shaped building for Draper and Kramer in Chicago that features three sunlit atriums. Architect Gunnar Birkerts' 14-story IBM building in Detroit is black on its north and east sides, to absorb heat, and silver on its south and west sides, to reflect it. A combination of tilted windows and curved stainless steel windowsill reflectors bounce natural light into the interior. The building requires only a mod erate 50 footcandles...
Such tales have not been limited to small firms. Chemical Bank, which lost $6 million in post-Volckerism bond dealing, abruptly fired its trading manager. A billion-dollar sure thing- the issuing of IBM bonds last month- turned into a pumpkin for such blue-ribbon investment bankers as Salomon Bros., which had underwritten the deal. Because of difficulties selling the IBM securities, Salomon and other traders had to swallow losses of $10 million. For the once staid bond market, it has been a fitting 50th anniversary of the Great Crash...
Brookings Institution Economist Arthur Okun has a "nightmare vision" of a major employer without company-wide unions such as IBM or Du Pont announcing some day that it was starting cost-of-living allowances in order to "keep the union organizers off their front lawns." Okun warns that if such automatic inflation pay increases spread into nonunion firms, "you can mark that on your calendar as a black day for fighting inflation...
Although some 50 firms are in the personal computer field, it is dominated by three: Apple, Radio Shack and Commodore. But IBM is eying the market, and Texas Instruments last May introduced a $1,500 model that can also be programmed for sound. Apple executives profess to welcome these entrants. The Apple corps believe that the big newcomers will help expand the market for all by advertising heavily to teach more people the wonders of personal computers...