Word: kleiner
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Dates: during 1980-1989
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...most successful venture capital firms in California is Kleiner, Perkins, Caufield & Byers of San Francisco. This is neither an old wealthy family firm nor a subsidiary of a major corporation. The company is rather using the gilded reputation of past successes to raise large new pools of money for fresh investments. Started in 1972 by Eugene Kleiner, one of the founders of Fairchild Semiconductor, and Tom Perkins, a former Hewlett-Packard executive, the company has seen its initial investment fund grow from $8 million in 1972 to almost $300 million today...
...Kleiner, Perkins closely studies an infant company's prospects and then carefully nurtures it during the early years. In 1973 Jim Treybig, one of the partners, began to work on an idea for a new computer that would eliminate many common computer breakdowns. Last year Tandem Computers, with Treybig as president and Tom Perkins as chairman of the board, rolled up sales of $109 million. The $1.5 million investment by Kleiner, Perkins is now worth $220 million. The company also struck gold last year when Genentech "One large winner takes care of an occasional loser...
Even before the St Germain report, small businessmen across the U.S. were skeptical that the prime was really the best rate available. Snaps Robert Laughlin, a Portland, Ore., food-equipment distributor: "The prostituted prime is nothing but greediness on the part of large banks." Attorney Jackie Kleiner has filed suit against the First National Bank of Atlanta, alleging that it uses an artificial prime to discriminate among borrowers. Says Kleiner: "The prime rate is supposed to be the bank's cost of obtaining money, plus a small profit. But it turns out that the profits are obscene...