Word: motorola
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Dates: during 1990-1999
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Parish, a former engineer for Lockheed Martin and Motorola, put the first kit together in his basement. Since 1992 his company has outfitted 50 military vehicles and multiplied sales nearly 100 times, from $50,000 a year to $4.4 million. In Bosnia last May the kits enabled U.S. Army vehicles to find and destroy 71 antipersonnel mines in two days. Parish says he has contracts to strap the kits onto an additional several hundred vehicles over the next five years...
...Alwaleed told TIME that he now owns about 5% of News Corp., the global media conglomerate run by Rupert Murdoch, making him the second largest individual holder, behind Murdoch. Alwaleed also bought some 5% of Web-browser maker Netscape Communications, and a chunk of chip and cell-phone maker Motorola. The fourth finalist, another well-known American company, according to the prince, is still being bought...
...king of communications in the Middle East--or, in due course, an emperor like Murdoch. Says Alwaleed: "I want to concentrate on communications, technology, entertainment and news. This is the future. News Corp. is the only truly global news and entertainment company. Netscape is strongly involved with the Internet. Motorola is very global in telephones and satellites. These companies are going to play a crucial role...
...investing next? East, it seems. His investment in News Corp. is based on a hunch that Murdoch's empire can grow by leaps and bounds in Asia. Says the prince: "Liberalization of media and entertainment in China and India will have a tremendous boost on News Corp. shares." Motorola is already in China. Earlier this year, Alwaleed made a 15-nation scouting trip through Asia and placed his first direct investment, taking a piece of the Shanghai Trade Center, which will be the tallest skyscraper in the world when it is finished...
...Waleed has purchased 5 percent of Rupert Murdoch's News Corp. for $400 million, 1 percent of Motorola Inc. for $300 million and a 5 percent share in Netscape for $150 million. The Prince is already worth $12 billion, and Tuesday's deals will probably net him another sizable chunk of the world's wealth. Maybe he's saving up for a presidential coffee klatch...