Egghead founder planning to resign as its chairman
Article Abstract:
Victor D. Alhadeff announces his resignation as chairman of Egghead Inc. Though Alhadeff made Egghead the nation's largest specialty software retailer, analysts say the company expanded too quickly, causing a loss of $12.1 million in FY 1989. Alhadeff says he is not bailing out, but simply feels management is not his forte. Instead, he plans to purchase Egghead University, a software training subsidiary, for $2.5 million. Alhadeff thinks he can transform Egghead University, which currently operates in the red, into a national stand-alone chain of software training centers. Analysts are split on Alhadeff's chances. Some feel the market is wide open, while others see no market because so much training is available for free.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Nintendo sues Lewis Galoob Toys over 'Game Genie.' (Nintendo of America Inc.)
Article Abstract:
Nintendo of America Inc files a copyright infringement suit against Lewis Galoob Toys Inc. The suit is over a video device called 'Game Genie,' a video game enhancer which Galoob plans to sell. Nintendo complains that Game Genie makes Nintendo's games too easy to play and infringes on Nintendo's copyrights. Plugging the Game Genie into a Nintendo game hardware unit instills a game's characters with super powers, so that characters can avoid dangers or fly over obstacles. Galoob responds to Nintendo's suit by filing a suit of its own, asking for a court order that declares that Game Genie does not infringe on Nintendo's copyright.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Tektronix plans to lay off 1,300, close some lines
Article Abstract:
Tektronix Inc is laying off at least 1,300 employees by Aug 1990 and will take a $70 million charge for the 4th qtr 1990 as a result of major restructuring. Tektronix's earnings have been declining since 1985 and in the 3rd fiscal qtr of 1989 the company sustained its first loss, reported at $25 million. Analysts attribute the recent losses to the company's inability to enter the computer-aided software and workstation markets in the early 1980's. Tektronix expects to sell or shut down several of its business lines and layoffs will depend upon which divisions it sells.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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