Word: xeroxes
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...capacious memory bank-a monthly mailing list in the case of the mailorder house-and electronically direct either nearby or distant copiers to reproduce material. The major questions are how soon such a system can be developed, and which of two corporate titans-IBM, the computer colossus, or Xerox, the copier king-will...
...present, Xerox and IBM are only in the early rounds of the battle, but it is already proving costly. Each has been forced into an expensive invasion of the other's special turf. In order to acquire the necessary technology to produce an eventual hybrid system, Xerox has had to go into the computer business, and IBM has had to produce photocopiers. IBM has been the more successful, though neither has done especially well...
Tough Challenge. Xerox clearly faces the greater problem. It is the smaller company-though size in this league is strictly relative; Xerox's 1971 sales of nearly $2 billion and profit of $213 million would compare favorably with almost anything except IBM's figures of $8.3 billion gross and $1.1 billion net. Xerox also confronts a tougher technical and financial challenge. Computer technology is much more sophisticated than copier-making expertise, and computer manufacturing is vastly more expensive. Moreover, most computers are leased to customers rather than sold, and it takes a long time for the manufacturer...
...Xerox nevertheless has gamely plunged ahead. In 1969 it paid stock worth nearly $1 billion in order to acquire Scientific Data Systems, a maker of small and medium computers, which has proceeded to lose $100 million under Xerox's ownership. Undaunted, Xerox five months ago paid another $29 million in stock to buy Diablo Systems, a computer disc-drive manufacturer. Xerox has won barely 1% of the world market for U.S. computers, compared with IBM's two-thirds, and the computer operation will gobble up $26 million in Xerox research and development funds this year alone...
...organization's budget director and became known to McGovern staffers as a tight-fisted spender. "I'm a good clamper-downer," says Kimelman. "I have a lot of one-word answers: No." Among others who bridled at Kimelman's autocratic ways was Max Palevsky, a Xerox millionaire and prime McGovern contributor. Recently he pulled out of the candidate's organization, partly over differences with Kimelman...