Control Data says it may repurchase debt soon, seeks alliances with others
Article Abstract:
Control Data Corp may begin repurchasing debt soon and sees alliances with others as a way out of its financial straits. Control Data's management predicts that the computer company is finally out of its five-year-long restructuring period during which time Control Data lost more than $1 billion. During the restructuring period, Control Data closed its supercomputer business, sold its Imprimis disk drive manufacturing subsidiary and prepared to sell the sports and entertainment portion of the Ticketron automated ticketing service. With proceeds from the sale of Imprimis, Control Data will buy back $154.2 million in notes. Control Data seeks to increase its computer products business by working with MIPS Computer Systems Inc to develop a machine with simplified operating software. Control Data will expand its computer hardware business by delving into systems integration.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1989
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Cray president Gumucio packs his bags as Chairman cites conflicting styles
Article Abstract:
Cray Research Inc, maker of the world's most sophisticated supercomputer, has lost another top executive over management style differences. Marcelo A. Gumucio, the firms president and chief operating officer, resigned because of disagreements with company chairman and chief executive officer John A. Rollwagen. Rollwagen says the two agreed that a change was necessary because the two men's styles were creating confusion within the company. Insiders say Rollwagen uses a looser management style, while Gumucio is more bottom-line conscious and structured in his approach. Analysts said the move may be good for the firm in the long run, but that Rollwagen will have to change his style to accommodate the changing industry.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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