Word: telex
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...censorship. Quickly labeled "file now, die later" by the journalists, the system required reporters to deposit signed copies of all their files with the censor for possible use as "judicial evidence." The punishment for "false" reporting, spokesmen said, might be "the opposite of being thrown out." At the Transradio telex office in Santiago, an amiable military officer serving as censor was so anxious to avoid talk about "revolution" that he cut out references to it in a personal message that one correspondent sent to a colleague in Tokyo. When TIME Correspondent Charles Eisendrath relayed his file via the fragile Mendoza...
...cast if its participants had been selected by, well, a computer. There, as defendant, was the International Business Machines Corp., the $9.5-billion-a-year giant of the computer industry, facing charges that it had illegally monopolized a fast-growing segment of its business. IBM's accuser was Telex Corp., a Tulsa-based manufacturer of "peripheral" components used with computers, which last year printed out a net loss of $13 million and has earned a total of only $7,000,000 in the best (1971) of its ten years in existence. Presiding over the trial was a 68-year...
...chose a path that for both sides may well, as Frost once said, have "made all the difference." In a decision that reverberated throughout the computer industry, stock market and financial community, he found that IBM had engaged in "sophisticated, refined, highly organized and methodically processed" efforts to force Telex out of the peripherals market. For damages, he awarded the struggling firm the largest antitrust judgment ever rendered in the U.S.-$352.5 million. Moreover, Christensen ordered IBM to revise drastically some of its business policies in ways that are designed to allow other computer firms to successfully compete against...
Admitting the difficulty of arriving at precise damages, Christensen found that Telex had lost $47.5 million in potential profits on equipment that the smaller firm was forced to underprice as a result of IBM's "predatory" marketing practices. He also decided that Telex was due another $70 million in possible earnings on equipment that it might have sold but for the same practices. Following standard antitrust law, the judge then trebled the $117.5 million total, to the final award of $352.5 million. The actual damages calculated by the court, Cary claimed, assume that Telex would have increased its earnings...
muted and elegant gallery spaces, white walls, slate floors, discreetly hushed viewing areas. The branches of the Marlborough group are linked by telex machines, clacking out their information and requests. New York is asking Rome to make hotel reservations for Marlborough's Japanese partners; London reports its day's schedule of auction prices. It is an atmosphere in which bankers and brokers feel instantly at home, removed from the puzzling messiness of the creative life...