Word: sarnoff
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...Cabinet officers whip up a bit of enthusiasm. His message: get out there-away out there-and sell. The two-day White House Conference on Export Expansion was attended last week by some pretty good salesmen, including IBM's Thomas Watson Jr., RCA's David Sarnoff, Raytheon's Charles Francis Adams and Gillette's Carl Gilbert-all of whom paid $50 for the privilege of attending. But the President complained that U.S. businessmen often do not try hard enough to get their foot in the door when it comes to selling abroad. "American businessmen," said...
Last week Sarnoff beamed to the world that RCA had turned the corner in 1962. On record sales of $1.7 billion, the company raised its operating profits after taxes to more than $50 million-an increase of 40%. Most gratifying of all, the upturn was primarily due to a virtuoso performance by color TV and improved prospects for RCA computers...
Also helping RCA's turnaround was its computer division. It was started in 1958 by Sarnoff and then RCA President John Burns. They had the right idea, but they overestimated their chances in a business where huge investments come back slowly as rental payments, and they underestimated the hard competition of IBM. Instead of specializing in one or two types of computers, RCA rushed out a broad range to do battle with IBM. Most were excellent...
Late in 1961, with Sarnoff growing impatient over computer losses that by then had mounted to $100 million, Burns was replaced as president by Engineer Elmer Engstrom, 61. In 1962, under Engstrom, RCA sharply reduced the research costs of its computer division. It also phased out the commercial model of the no computer, which was intended to run factories, and straightened out the bugs that had delayed for many months delivery of the high-speed 601 computer. The first 601 started whirring last month at New Jersey Bell Telephone, which is paying $375,000 a year rental...
...Other Half. Sarnoff is confident that RCA's computer losses will be halved again in 1963, and hopeful that the computer division will move into the black in 1964. As for color TV, the industry predicts that sales will rise in 1963 to 750,000 or 1,000,000 sets, close to half of them made by RCA. With all this in prospect, Sarnoff sees the future in chromatic hues, predicts that RCA's 1963 earnings will be even better than the 1962 record...