Word: compaq
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Dates: during 1980-1989
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...sprightly competitors, Apple and Compaq, may be less affected by the new IBM products. Houston-based Compaq has successfully marketed a portable version of the desktop PC and just introduced a high-speed office model called the DeskPro. Apple meanwhile has been enjoying rapid sales of the updated version of the seven-year-old Apple II called the He, while 90,000 Macintoshes have been shipped since it was introduced seven months ago. As both the Compaq portable and the Apple machines are significantly less expensive than the new IBM computers, they are not expected to feel much direct pressure...
Benjamin Rosen, 50, a major investor in Lotus Development and chairman of Compaq Computer. Sophisticated and possessing a soft-spoken wit, Rosen earned electrical-engineering degrees from the California Institute of Technology and Stanford and worked first for Raytheon as an engineer. While still in his 20s, he decided to become a stock analyst. He picked up an M.B.A. degree, worked for Coleman & Co., a New York securities firm, and then for Morgan Stanley & Co. and began publishing a highly regarded electronics-industry newsletter...
...capital funds with L.J. Sevin, founder of Mostek, a semiconductor manufacturer. Sevin Rosen Management's $2.1 million investment in Lotus, a software manufacturer located in Cambridge, Mass., turned into a holding worth $70 million when the company went public in October. The fund invested some $2.5 million in Compaq, a Houston-based firm that makes a portable computer that runs like the IBM PC. When Compaq went public last month, that investment was suddenly worth $40 million. But not all Sevin Rosen picks are winners. The fund is likely to lose the $400,000 it invested in Osborne Computer...
Rosen is much more than a passive investor. Last March he became chairman of Compaq, and he now spends one day a week on its affairs. His main interest is marketing, for which he has an instinctive knack. Like most successful venture capitalists, Rosen sees far more deals than he can participate in. Working out of an office in New York City's Pan Am Building, he screens proposals "ruthlessly" and invests in only about one out of every 50 that are presented to him. Looking back over his three careers, Rosen says, "It was fun being an analyst...
With IBM on a roll, some computer dealers worry about its growing market dominance. Companies like Apple and Compaq may be helped in the future by the eagerness of computer-store owners to have something to sell besides IBM products. Says Seymour Merrin, a Westport, Conn., dealer: "We cannot allow our futures to be totally controlled by an outside force like IBM. If you do, you become a slave, not a business." But if IBM continues to move forward at its present pace, dealers may have little choice. IBM controls 70% of the mainframe computer market, and the company...