Word: xeroxes
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...Xerox Corp. stockholders like to open their annual meetings with a round of applause for management-and they have ample reason. Since 1960, when Chairman Joseph Chamberlain Wilson introduced one of history's most profitable single products-the Xerox 914 office copier-the company's sales have increased 18-fold (to last year's $701 million), its profits have grown 37 times (to $97 million), and its stock, long the shiniest of the glamour issues, has increased in value 50 times to the latest close...
...applause but ended in astonishment. Joe Wilson, 58, caught 2,200 attentive stockholders unaware at the meeting's close with word that he was stepping out of day-today management, would devote himself to "long-range planning." And "with a sense that this is a great milestone for Xerox," he announced that his title of chief executive officer would pass to C. (for Charles) Peter McColough, 45, the company's president since...
Protective Patents. Few histories of business growth are as dramatic as that of Xerox. Founded in 1906 as the Haloid Co., a maker of photographic papers, the firm prospered quietly until the early '40s, when noisy court battles erupted among its twelve founding partners-including Wilson's father, who eventually won control. When his turn to take over the family fiefdom came in 1946, Joe Wilson, then 36, found it faltering. Searching for profitable new business, he seized on a little-known copying process called "xerography," and in eight years raised some $87.6 million in loans and stock...
...require sound and sober study, include the guaranteed annual wage, the family allowance (which only the U.S. among the world's maior industrial democracies denies its citizens), and the negative income tax, which late last month was endorsed by a committee of industrialists including Ford's Arjay Miller and Xerox Chairman Joseph C. Wilson. The statistic that moves businessmen the most: from the age of 17, a male who lives to 57 can cost the public...
...climbed out at 6:30 a.m. while the police were forming a ring around the building. They had torn down the barricade; some chairs were wrecked; solid doors had been chopped through; they had completely screwed up a Xerox machine...