Word: silicones
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Ever since Apple introduced the first commercially successful microcomputer in 1976, TIME has been faithfully chronicling the fortunes of the many small electronics companies that all seem to have been conceived in garages and nutured around Boston or in California's Silicon Valley. This week's cover story, however, looks in another direction. It treats a very large, relatively old, traditional high-tech company, headquartered in New York's Hudson Valley, that has staged a spectacularly successful invasion of the personal-computer market: IBM, the once and future colossus. Says Business Editor George M. Taber, who supervised...
...fragile market cracked. Reacting to news that Texas Instruments, suffering from disappointing hardware and software sales, had predicted a $100 million loss in its current quarter, Wall Street turned negative on the company's stock. Shares of TI, one of the world's largest manufacturers of silicon chips, dropped 40 points in one day, trimming nearly $1 billion from the company's paper value. On the heels of Atari's multimillion-dollar loss last quarter, it looked as if one segment of the computer revolution was wobbling...
...take shape for Business Editor George M. Taber at a conference of Time Inc. journalists in Santa Barbara, Calif., more than a year ago (yes, sometimes these things take a while). One of the major subjects of discussion was flourishing high-technology industries like those in California's Silicon Valley. Says Taber: "It began to strike me that here we were with this new, vigorous economy of the silicon chip and the old, declining economy of smokestacks and steel mills. The division was partly geographical: much of the old was in the East, much...
...have extra money to spend. Unemployment rates stand at 14.9% in Michigan and 13% in Ohio, sharply above the national level of 10.2%. Yet in many other areas the rise of high-tech companies has spawned pockets of booming growth: the Route 128 strip around Boston, California's Silicon Valley and the Research Triangle Park area in North Carolina. The uneven distribution of job opportunities is beginning to cause mass migrations reminiscent of other periods in American history. Thousands of young people are heeding the cry of the '80s: "Go West, young man, and grow up with...
...fast-growing electronics firms of California's Silicon Valley, which are renowned for their blue-jeaned whiz kids, are now seeking pinstripe talent skilled in the Big Business techniques of mass marketing. In the past six months, Valley firms have lured several officers away from major American corporations. Apple, a pioneer in personal computers, has hired a new chief executive: John Sculley, 44, who was president of Pepsi-Cola. Osborne, the leading maker of portable computers, recruited as its chief executive Robert Jaunich, 43, former president of Consolidated Foods. Atari, a strong force in home computers as well...