Word: rca
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...household utility" like the piano or phonograph. "The idea is to bring music into the house by wireless," he wrote in a memo. It was regarded as commercial folly. But he would soon have another opportunity to find backing for his idea. After the Great War, in 1919, RCA was formed by General Electric to absorb Marconi's U.S. assets (including...
Sarnoff had it all figured out: for RCA to sell radios, it had to have programming--music, news, sports. On July 2, 1921, he arranged the broadcast of the Jack Dempsey-Georges Carpentier prizefight (great ratings in the male demos), which was a watershed event. Within three years the radio music box, now called the Radiola (price: a hefty $75), was a success, with sales of $83.5 million...
Sarnoff's career took off. His next epiphany: the fastest path to profits would be to create national broadcasts by stringing together hundreds of stations. In other words, a network. In 1926, as general manager of RCA, he formed the National Broadcasting Co. as a subsidiary...
...Grounds). What stadium names haven't been is brand names. But that's changed. San Diego's Jack Murphy Stadium has become Qualcomm Stadium, which is either a communications company or a powerful nighttime cold medicine, depending on whom you ask. The Hoosier Dome in Indianapolis is now the RCA Dome, which no doubt annoyed the city's pilfered Baltimore Colts, who had already changed their letterhead once and would probably prefer not to do it again...
There is no starker example of the phenomenon of corporate welfare and vanishing jobs than General Electric Co. In 1986 GE, fresh from acquiring RCA, employed 288,000 workers in this country. By 1997 the number had fallen to 165,000. During the period that GE cut those 123,000 jobs in the U.S.--43% of its workforce--the company collected several billion dollars in corporate welfare...