Word: xeroxing
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Dates: during 1970-1979
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Died. Joseph C. Wilson, 61, board chairman of Xerox (see BUSINESS...
...essay: Fortis imaginatio general casum (A strong imagination begets the event). In his own case, it took twelve years of imagining the possibilities of an obscure invention for any historic event to occur, but the result was one of the most successful single products ever put on sale: the Xerox machine. By the time he died of a heart attack last week at the age of 61, while lunching in Manhattan with Nelson and Happy Rockefeller, Wilson had turned the modest Rochester firm that he took over from his father in 1946 into a $1.7 billion-a-year giant...
...million into what has been named "xerography" (from the Greek words for "dry writing"), about twice its earnings from regular operations. The difference was scraped up through loans and new stock, some of which Wilson and other executives accepted in lieu of salary. In 1960, the first fully automated Xerox machine came to market...
...made millionaires of himself and at least 300 other investors, Wilson, a gentle man whom everybody called "Joe," increasingly devoted himself to many educational and social causes. He was chairman of his alma mater's board of trustees, steered it into making a $196,000 investment in Xerox stock that is now worth $120 million, and left the university some $20 million, plus millions more in trust. Wilson encouraged others at Xerox to become involved in civic affairs. "Those in the inner city have derived little benefit from technology and no profit from it," he once noted. "Technological companies...
...system has all the power," he said. "All we've pot is a few lawyers and some Xerox machines...