Word: xeroxing
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More money is pouring into the country too. Two weeks ago, Xerox officials announced they would be spending $100 million to $150 million on a new manufacturing plant for small copiers, which will be exported to the U.S. Sheraton will build five more hotels to take advantage of the new tourist boom. Americans are now rushing to Mexico to bask in the sun and pick up bargains with their strong dollars. A Japanese consortium is ready to start work on a new 700-room hotel in Mexico City...
...pitfalls will be just as deep for high-tech managers as for those in old-line industries. High tech is no passport to business success. Digital Equipment Corp. is a leader in the minicomputer business, but it is now having to run to catch up in micro computers. Xerox pioneered office copy machines, but it has had trouble finding a niche in the office automation market. Southern Biotech was a promising firm in the surging field of genetic engineering, but it filed for bankruptcy after three years in business and a failed research program...
...make outright takeovers more difficult by setting up so-called shark repellents. Example: some companies altered their bylaws to require a two-thirds or three-quarters majority of voting shares to make changes in company policy, and some also set up "golden parachutes" to protect top executives. When Xerox was threatened last summer by a bid from GTE, it bought Crum & Forster, the big insurer, so that it would be more difficult to take over...
Many legal experts consider the decision an aberration and hope that other courts will ignore it, but the new test will hardly make it easier to protect trademarks. Among those lost over the years: Thermos, Aspirin, Cellophane, Zipper and Yo-Yo. Xerox fights desperately with ads and public relations efforts to keep its name from slipping into generic usage. The makers of Sanka are waging the same war. Anspach had sold 525,000 copies of Anti-Monopoly before he was stopped. (Parker Brothers sells more than 2 million of the original each year.) He now hopes to get his games...
...study of 108 companies, Charles D. Spencer & Associates, a Chicago-based research firm, found that 27% were offering special incentives for early retirement. Among the corporations that have started such programs in the past two years: Polaroid, Deere and Xerox. A recent addition to the list is R.J. Reynolds, the largest U.S. tobacco company. In January, Reynolds offered pension benefits and a bonus of a year's salary to workers in its headquarters town of Winston-Salem, N.C., who by next year will be 55 or older and will have worked at least ten years for the company. Reynolds...