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Some of the greatest concern was over the continued budget deadlock, and the executives had some surprising bits of advice for solving the problem. David Packard of Hewlett-Packard, a former Deputy Secretary of Defense whose company derives 15% of its revenues from defense work, called on the President to reduce his military budget by up to $10 billion. "Those battleship expenditures don't seem very wise. I think the South Atlantic fiasco proves that ships aren't safe from missile attack," said Packard. "I'd also recommend skipping the B-l bomber and going directly...

Author: /time Magazine | Title: Euphoria Ends | 5/17/1982 | See Source »

Outside of politics, Baker's greatest passion is photography, a hobby that allows him to hone his skills as a detached observer even during an event like the presidential Inauguration. He is also fascinated by old cars; he owns a 1950 Packard, a 1951 Studebaker, a 1962 Ford convertible and a 1963 Chrysler. (But he is driven to Capitol Hill from his home in northwest Washington, promptly at 8:30 every morning, in the brown Cadillac that is one of the perks of his office...

Author: /time Magazine | Title: The Floor Is My Domain | 4/26/1982 | See Source »

Stanford University, near Palo Alto, was the source of much of the valley's spirit and success. Two Stanford graduates, William Hewlett and David Packard, opened a small company not far from the campus in 1939. Hewlett-Packard is now the area's largest electronics employer and a leader in computer-based technologies. Moreover, many of its employees have left the company to start a host of new businesses. Among the most successful: Apple Co-Founder Stephen Wozniak and Tandem Computers' James Treybig...

Author: /time Magazine | Title: Striking It Rich: A new breed of risk takers is betting on the high-technology future | 2/15/1982 | See Source »

After school, he attended lectures at Hewlett-Packard, the big electronics firm. One day he boldly called William Hewlett, the president, to ask for some equipment for a machine he was building. Impressed, Hewlett gave it to him and helped arrange summer employment. One of Jobs' best friends at the time was Stephen Wozniak. Pooling their talents, the two Steves built and sold so-called blue boxes, which were illegal electronic attachments for telephones that allowed users to make long-distance calls for free. On one occasion, Wozniak called the Vatican and, pretending to be Henry Kissinger, asked...

Author: /time Magazine | Title: The Seeds of Success | 2/15/1982 | See Source »

...machine that could help families do their personal finance or small businesses control inventories, and he urged that they form a company to market the computer. The two raised $1,300 to open a makeshift production line by selling Jobs' Volkswagen Micro Bus and Wozniak's Hewlett-Packard scientific calculator. Jobs, recalling a pleasant summer that he spent working in the orchards of Oregon, christened the new computer Apple...

Author: /time Magazine | Title: The Seeds of Success | 2/15/1982 | See Source »

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