Word: sutro
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Dates: during 1980-1989
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...created Friskies pet foods and Coffee-Mate nondairy creamer. But Carnation's last acquisition of any size was the $30 million purchase in 1973 of a company that makes class rings. Since 1980 sales have been flat (1983 revenues: $3.4 billion). Says Dan B. Williams, an analyst with Sutro & Co., a San Francisco investment banking firm: "Some observers think Carnation has been stodgy in new-product introductions. Its mainstay is milk, and dry milk is a no-growth area." That highly cautious strategy was dictated by Olson, who takes pride in Carnation's record of 31 straight years...
...already commands 28% of the personal computer market, and industry watchers believe the new products will strengthen its dominance. Says Bruce Nollenberger, first vice president of Sutro & Co., a San Francisco brokerage house: "IBM is flexing its muscles, and the computer world is taking notice...
...early stages of development, there are now simply too many firms trying to capture the same market. These include new, well-financed companies like Genentech and Cetus, big drug companies like Merck and Eli Lilly, plus a host of smaller, undercapitalized firms. Observes Jonathan Ziegler, vice president of Sutro & Co., the San Francisco brokerage house: "There is duplication of effort on a grand scale in this industry. Probably 150 of the 200 companies are working on the same five products...