David Packard, 83, pioneer of Silicon Valley, is dead
Article Abstract:
HP co-founder David Packard died on Mar 26, 1996, at the age of 83 from pneumonia and related complications. The company Packard and William Hewlett founded with $538 in cash has grown into the second-largest computer company in the US after IBM. HP became famous not only for inventing the first inkjet printer and hand-held calculator, but also for Packard's egalitarian management. Packard promoted an open-door policy among executives and rejected executive privilege. His style of managing by walking around, keeping in touch with workers on the floor, has been widely adopted, as has his 'management by objective' technique, which calls for managers to define a task and then leave their people to get it done. Packard enjoyed semi-retirement in the 1980s, although he was still involved in the company, and he took charge in 1991 to lead HP out of a slump. He retired from the position of chairman in 1993.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Packard Bell is in accord with NEC and Groupe Bull; move to bolster U.S. company's fortunes
Article Abstract:
Packard Bell Electronics plans to merge with Zenith Data Systems, a unit of Compagnie des Machines Bull (Groupe Bull) at the same time that NEC invests $238 million in Packard Bell. Zenith had revenues of $1.3 billion in 1995 and is valued at $367 million, while Packard Bell's revenues totalled over $4 billion for the year. The merger is designed to introduce Packard Bell to the government and corporate markets, which have higher profit margins than retail, and the combined companies would hold approximately 13% of the US PC market. NEC and Groupe Bull each continue to own 19.9% of Packard Bell, receiving convertible preferred stock in return for their investments. Groupe Bull benefits because Zenith was adversely affecting the company's financial statements. NEC's benefit is less certain, but company officials say they want to learn the US market.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Dell earnings soar with sales growth triple PC industry's
Article Abstract:
Dell Computer far exceeded analysts' expectations of its sales growth in the 4th qtr of its fiscal year. The company's reported sales growth rate is three times that of PC industry's. Dell attributes its long-term relationships with a number of large companies, which expect a constant replacement of their computer systems, have done much to ensure the company's success. The company's chairman and CEO, Michael Dell, called Dell's market share gains a 'sharefest' that resulted from competitors selling through dealers. Dell's higher profit margin products, such as notebooks and servers, sold very well, causing the company's earnings growth to exceed that of its sales. Dell reported notebooks sales to be 84% higher than the previous year, and server sales to be 310% higher.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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