Word: haloid
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Dates: during 1971-1971
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Gambling Their Salaries. A Phi Beta Kappa graduate of the University of Rochester, Wilson briefly considered an academic career, then went to work for the Haloid Co., a photocopying firm that his grandfather had helped start in 1906. Shortly before he became president, the Government began drastically cutting back on its large wartime orders from Haloid, and Wilson started a search for new products. His chief of research. Dr. John Dessauer, showed him a 25-line abstract in a Kodak company journal describing a dry copying process that had been invented by Physicist Chester F. Carlson in the 1930s...
...would have to be psychoanalyzed to say if I would take the same risk again," he said later. "It's when you're very young and naive that you have the courage to make the right decisions." Over the next twelve years, Haloid poured some $75 million into what has been named "xerography" (from the Greek words for "dry writing"), about twice its earnings from regular operations. The difference was scraped up through loans and new stock, some of which Wilson and other executives accepted in lieu of salary. In 1960, the first fully automated Xerox machine came...
...work of small firms. Transistor radios were first sold in large volume by Sony, then a struggling young Japanese company; stainless-steel razor blades were introduced by Wilkinson Sword, a British firm that few Americans had heard of; dry copiers were invented by an obscure company then called Haloid Xerox; the picture-in-a-minute camera was developed by Polaroid, a firm with no prior experience in photography. Similarly, the fast, low-cost oxygen steelmaking process was first tried in the U.S. by the relatively small McLouth Steel Corp. in the mid-1950s. A decade passed before U.S. Steel...