Word: rand
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...article about Sperry Rand [July 3], it was stated that I charged that Wall Streeters have been knocking Sperry stock "in hopes of buying it on the cheap." I cannot understand how your writer obtained the impression that I made such a statement. This is contrary to the facts. Wall Street, through the years, has been extremely helpful to our corporation...
...Sperry Rand Corp. New York City...
...RAND Boston...
Luck & Layoffs. Vickers is fond of saying that "success is 921% luck -and the rest is hard work." He worked hard to bring about a merger nine years ago between his Sperry Corp. and Remington Rand Corp., but the marriage has had uneven luck. Remington Rand attracted him because it was such an early leader in the computer field that its Univacs were once synonymous with computers. Like many companies, however, Sperry Rand found it easier to make than to market a good product. Cracks the departing Louis Rader: "Whoever said that if you build a better mousetrap the world...
...same time, the company has been hit by the U.S.'s planned 10% reduction in defense orders. Sperry Rand counts on the Pentagon for half of its sales. In the past year its defense backlog has dropped 14% to $515 million, and it has laid off 300 engineers, as well as 1,300 production workers...