Word: profitable
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Dates: during 1980-1989
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Another company squeezed by IBM is Vector Graphic (fiscal 1983 sales: $33.6 million). Admits Dick Hahn, a senior vice president: "When IBM came into the market it took a lot of business that we had." Sales fell $2.5 million in 1982, and a $2.4 million profit turned into a $3 million loss. One-quarter of the company's 400-person work force has been laid...
...several years Fortune Systems (1982 sales: $26 million) profitably went its own way selling budget-price office systems. But when development of some new software was delayed early this year, second-quarter sales tumbled by $8 million, and a $3 million profit turned into a $3 million loss. Another loss is forecast for the third quarter because not all of the software will be ready until October. President Gary Friedman admits that falling behind in the current market can be devastating, but insists it will not be fatal. Says he: "We still think there's a window of opportunity...
...exclusivity. Halston's name, for example, now appears on J.C. Penney's dresses. Even worse, designer clothes frequently turn up in discount and off-price stores that are multiplying like fried-chicken outlets. By promoting their own label, retailers can guarantee exclusivity as well as protect their profit margins. Since the manufacturer's name is not important, the private-brand goods are often made overseas...
Last week the new management team headed by Vice Chairman and Chief Executive Martin Davis, 56, announced a major streamlining program to rid the company of low-profit operations. Among the cast-off candidates: Arlington Park race track near Chicago and Roosevelt Raceway in New York, manufacturer E.W. Bliss, and Sega's video-game-making unit. The moves would save the company about $470 million in tax write offs, but produce a loss of $215 million this year...
...buyer would have to put down something less than 10% of that amount, or about $6,000. The investor would then stand to make or lose $500 on every point the index rose or fell. If it were to jump to, say, 165, the purchaser would have a profit of $2,500 ($500 times 5). If the index dropped to 155, he would lose $2,500. Trading in the contracts can therefore be expensive and risky. "These instruments are not for the small investor," says Louis Margolis, vice president of the Salomon Bros, investment banking firm...