Word: nationalizes
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Dates: during 1970-1979
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Though the purchase price for a sophisticated eight-lane check-out system can be more than $110,000, some 200 systems are already operating in supermarkets around the nation. Some chains are, well, waiting in line for them. In time, chips in check-out counters will be as much a supermarket staple as the crunchy kind that comes in bags and tins...
...took to the computer more eagerly or saw its usefulness more quickly than the businessman. Now, 24 years after General Electric became the first company to acquire a computer, these versatile machines have become the galley slaves of capitalism. Without them, the nation's banks would be buried under the blizzard of 35 billion checks that rain down on them annually, and economists trying to project the growth of the nation's $2 trillion economy might as well use Ouija boards. In the airline industry, computers make it possible to reserve a seat on a jumbo...
...explosive rise in demand has surpassed even IBM's ability to gobble up new orders. Though the company continues to grow at a healthy rate (its 1977 profits of $2.7 billion on sales of $18.1 billion were up more than 13% over the year before), the nation's other manufacturers of large computers - Control Data, Burroughs, NCR, Honeywell and Sperry Univac - are also booming. Mean while, the clamoring demand has created markets for smaller and younger companies that make minicomputers and peripheral equipment, such as data storage facilities and keyboard terminals, to be used with the big "main...
Though still in its infancy, the miracle chip has already given rise to one of the most astonishingly competitive and fastest growing industries the nation has ever seen...
Among the 50 or so companies producing the versatile little devices are some of the nation's largest electronics and computer firms- IBM, Motorola and Texas Instruments, where Computer Scientist Jack Kilby pioneered in developing the integrated circuit, the predecessor of the chip. Also included are a host of brash upstarts that did not even exist ten years ago (see box). Last year's chip sales of $235 million, while still modest compared with the revenues of the entire computer industry, are expected to grow by a startling 50% annually and exceed $800 million by as early...