Word: xeroxes
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...past two decades, Xerox Corp. has never succeeded in earning much money from anything other than office copiers. Forays into computers, the education business and products for the office of the future have, in the main, been misadventures for Xerox or have...
Accordingly, the company's fortunes have slumped. Though sales were almost $9 billion last year, Xerox no longer monopolizes the market for the marvel it developed, the copier that works using ordinary untreated paper. Japanese and U.S. competitors have shaved the 70% share of the plain-paper copier market that Xerox held a decade ago to about 45% now Earnings for the first half of this year were down to $271 million, off 16% from the same period a year earlier. Security analysts expect that the third quarter, to be reported this week, will also be poor...
Wall Street followers of the company are still puzzling over Xerox's offer last month to pay some $1.6 billion in cash and stock for Crum & Forster, the 18th largest U.S. property and casualty insurer. High-tech Xerox in the insurance business? To many analysts, it seemed anomalous, a radical and inappropriate diversification of resources...
Analyst Sanford Garrett, at the time one of the few remaining bulls on Xerox, found the announcement so jarring that he took the company's stock off the buy list at Paine Webber, the Wall Street securities firm. Xerox stock, which made millionaires of investors prescient enough to buy in the years after the plain-paper office copier was introduced in 1959, sold as high as $172 in 1972. It closed at only $37.75 last week, even after moving up in the big market rally; it was at $29 two months ago when the Dow Jones industrial average began...
...abstract logo, whose design, says Chase, is supposed to "convey a sense of dignity and the dynamic purpose of the bank." The versatile and famous CBS eye was developed by Bill Golden, art director at CBS for 19 years. Currently, the leading imagemakers are Lippincott & Margulies, who created the Xerox logo and claim authorship of more than 2,200 others, including Uniroyal, RCA and ChemBank...