Word: startup
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Companies report, though, that cafeteria programs can be expensive and time consuming to introduce, and some firms are hanging back because the startup costs are too high. SCM spent $100,000 simply for an information campaign to explain its new plan to employees. Companies must also make substantial investments in computer software in order to administer the complex benefits programs. Even then, keeping track of who gets what can create headaches...
...local residents of reopening the undamaged reactor at the Three Mile Island nuclear facility near Harrisburg, Pa. The plant's other reactor had broken down on March 28, 1979; neither has been operating since. Leaders of People Against Nuclear Energy (PANE), the citizens group that challenged the startup, were disappointed but vowed to continue their fight. With NRC approval, however, Metropolitan Edison Co., which operates the plant, hopes to reopen the unharmed reactor in July...
...conserve $130 million in capital, Cetus Corp. of Berkeley, Calif., one of the industry's largest firms, shut down five of 13 major projects this past summer and ended probes into several other costly areas. A number of companies have failed only a year or two after their startup. Southern Biotech of Tampa filed for bankruptcy in June, after issuing $5.5 million in stock, because of "an unsuccessful research project...
Although Turner acknowledges he lost an estimated $2 million a month in the early stages, he contends that CNN was nearly in the black within 18 months of startup. But the costs of CNN2 and a big new promotional campaign, everyone agrees, have pushed the project back into the red: losses for CNN averaged $1.1 million a month despite monthly revenues of $3.4 million during the first six months of 1982, and CNN2's monthly losses were about $800,000 more. With the lagging U.S. economy damping down advertising revenues, Turner has abandoned his projection that CNN can make...
Success led the group into an even bolder venture: assembling entire desktop computers. Today that work takes place in 120,000 sq. ft. of leased office and manufacturing space in Thousand Oaks, Calif., and involves 400 people who design, assemble and sell eight microcomputer models. All involved with the startup have become millionaires: together the founding trio owns more than half of Vector Graphic stock, worth around $29 million at last week's over-the-counter close of $9.75 a share...