Word: mellone
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Dates: during 1980-1989
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...anyone's guess whether the small degree of stability so painfully achieved on Friday -- volume dwindled as the Dow average stood almost still -- will hold even for days or hours. Alan Meltzer, professor of political economy at Pittsburgh's Carnegie-Mellon University, thinks the "markets will remain volatile because there are still too many unanswered questions...
Crime and conventional morality aside, the transmutation of base fame into gold does scratch at some deep nerve in the public psyche. Most observers would probably agree with Thomas Kerr, associate professor of business ethics at Carnegie-Mellon University, who would not condemn the "public for wanting titillating gossip" or the "media for giving the public what it wants." Yet people inevitably feel some unease because, as it is put by Eugene Secunda, New York University professor of advertising, marketing and media, "fame and infamy are often viewed in the same light...
...industry trade group, by year's end 63% of banks with ATMs are likely to impose charges for the use of their money machines. Some charges are hefty: 75 cents per transaction at Chase Lincoln Bank in Rochester for using another bank's ATMs, or $1.50 at Pittsburgh's Mellon Bank for using a nationwide ATM system...
...price from $30,000 to $200,000 apiece. But these bulky hydraulic machines, originally programmed to perform tasks by means of magnetic tape similar to that used in tape recorders, were often inaccurate and susceptible to breakdowns. Says Raj Reddy, director of the Robotics Institute at Pittsburgh's Carnegie-Mellon University: "U.S. companies dragged their feet on innovation because they wanted to squeeze every last penny out of their existing equipment." Despite those drawbacks, in the early 1980s hydraulic robots appeared to be the best workhorses available for such automated tasks as parts assembly, materials handling and heavy-duty lifting...
...Conigliaro, analyst with the Prudential Bache investment firm: "The robot industry promised more than it could deliver. The technology was not as advanced or sophisticated as promised." Many companies discovered that buying an industrial robot was only the first, and least expensive, step in automating their factories. Says Carnegie- Mellon's Reddy: "Suddenly they needed experts in computer science, communications and database technology. The number of people in factories with this expertise is probably zero." Adds Warren Seering, professor of mechanical engineering at M.I.T.: "In general, robots are much more expensive than people...