Word: palo
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When it was founded 16 months ago, DNAX of Palo Alto, Calif., easily raised $5.5 million. The company, though, is now spending nearly $4 million annually on research, and it does not expect to see any profits for at least another six or seven years. Dr. Alejandro Zaffaroni, the founder and acting president of DNAX, admits that he expects to find it difficult to raise additional capital and that he may eventually be forced to sell out to a larger partner...
...call comes in on the radio of a command post on Guazapa. A wounded officer is at the village of Palo Grande. The chopper pilots discuss strategy with the commanding colonel over the luncheon table. Can they get a small chopper in to pick him up? No way, say the pilots, the area is too hot. One pilot took eleven holes through the floor on the last pass. They decide to send in two gunships...
...also growing up in the region. Some say it should really be called the Siliclone Valley because of the 16 genetic-engineering companies now located there. Robert Swanson, an M.B.A. from M.I.T., and Biochemist Herbert Boyer, for example, started Genentech. Collagen Corp., a bio-medical products company in Palo Alto, makes a biological implant called Zyderm, which helps remove the effects of scars from the human skin. Companies like Coherent Radiation in Palo Alto are doing pioneering work in the industrial use of lasers...
David Steininger, 33, a graduate of Purdue University, is currently a project manager with Palo Alto's Electric Power Research Institute, an energy think tank. Says he: "I want to make my own mark and do something that has a lot more challenge. If you can't win a Nobel Prize, the next best thing is to start your own company." Steininger is thinking about forming a firm that will develop new oil-recovery technology...
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...