Word: intel
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Dates: during 1980-1989
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Just as important as the network is the attitude of businessmen and backers toward infant enterprises. They see failure as a demonstration of an adventurous intellect, not as a shortcoming. Says Gordon Moore, 53, the chairman of Intel Corp., a major semiconductor manufacturer: "Even when someone starts a company and fails, he'll be more valuable than someone else the next time because of his business experience." The result is an effervescent creative spirit that bubbles like California's best sparkling wine. Says Dallas-based LJ. Sevin, managing partner of Sevin Rosen Partners, which invests heavily...
Once the risk takers have established their firms and developed new customers, they face inevitable challenges from older and bigger companies that are attracted to the growing markets. The semiconductor industry shows what can happen. Intel in Santa Clara invented the first memory chip in 1968. Then American giants such as Motorola and Texas Instruments jumped into the market. After them came the Japanese, who now control 40% of the business for the most, popular size, the 16K memory chip...
This was the second theft in twelve months at Monolithic. Last December, in a case yet to be solved, $120,000 worth of platinum used in the manufacture of semiconductors vanished from the firm. Earlier, at the Intel Corp., which is located 1½ miles away from Monolithic, 10,000 memory devices for microcomputers, worth $1 million, were stolen by an employee. Those chips found their way to underground distributors in West Germany, who sold them to the unsuspecting West German manufacturer Siemens. Authorities say that other equipment stolen from the Silicon Valley has wound up in Eastern Europe...
...Southern California has an internal program that aids employees in their house hunts. Some firms, though, are facing an unexpected and serious problem: a large stock of unsold homes that the companies have been forced to buy from employees who have moved to new locations. California's Intel Corp., for example, now has up for sale homes worth more than $7 million. General Motors has 112 homes in the currently depressed Detroit housing market, and the automaker is giving away new 1981 General Motors cars as a bonus to buyers. A free Cadillac (value: $18,300) will...
Corporate executives generally remain as convinced as ever that future prosperity is worth some hardship now. Says Robert Noyce, vice chairman of Intel, a semiconductor manufacturer: "We're somewhat concerned about the transitory period of tight money, but it's part of the medicine we have to take to get the economy to improve." Adds Goff Smith, chairman of Amsted Industries, a Chicago-based equipment supplier: "It's going to hurt a little, but we ought to be glad for a little suffering if it brings the inflation rate down...