Word: millions
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Dates: during 1960-1969
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...France and Britain sharply reduce the pressures on the franc and pound. Last week both currencies rallied a bit in international trading. The pound gained after Britain reported that rising exports had lessened its chronic trade deficit during November. The franc rose even though France announced a $200 million November trade deficit, triple that of October. The money was stronger because, for the moment, most Frenchmen seemed to be accepting De Gaulle's stringent curbs. But the real test will begin early next year, when unions are expected to demand pay increases...
...member countries. Because the subsidies are computed in dollars, a shift in exchange rates would automatically raise or lower the income of farmers in EEC countries. If the Germans increased the value of the mark by 5%, for example, German farmers would lose at least $250 million a year because the prices of their products would have to be cut by 5%. The subsidy deals are scheduled for renegotiation by 1970. That timetable could be changed but, whatever the schedule, it would be politically risky for any German government to accept substantial shifts in the monetary apparatus until the subsidy...
...weeks ago, Norris introduced a still more capacious computer, the 7600, billed once more as the world's biggest. It is a 10 ft. by 10 ft. fortress. Beneath the glass and walnut exterior are 1.8 mil lion transistors, 2.2 million resistors, about 30,000 male and 30,000 female connectors and millions of other parts. The machine works five times as swift ly as the older 6600 and sells for up to $15 million; Control Data already has five sales orders from U.S. Government agencies. Not surprisingly, the company did not want to run the risk that...
...court. IBM's gentlemanly salesmen, some of whom make $40,000 a year or more, can indeed be rugged competitors. Even so, the company's top management is known to take a somewhat protective attitude toward competition. IBM makes such profits (last year it earned $651 million after taxes on revenues of $5.3 billion) that it could trim prices and still do well. But IBM knows only too well that a general computer price cut might drive some smaller competitors to the wall. IBM is also sensitive about its size, and about the fact that the Justice Department...
...country's most powerful companies.* Then too, the history of Control Data, which was started by Norris only eleven years ago, demonstrates that IBM competitors can succeed. In about a decade, IBM noted, Control Data's assets have grown from less than $1,000,000 to $465 million; its revenues have increased to $387 million in fiscal...