Word: silicon
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...company Morgan found when he arrived in California consisted of a dozen separate corporate satrapies devoid of planning or consultation. At least 49 Atari buildings were spread around company headquarters in the Silicon Valley sprawl of Sunnyvale, Calif. Often the heads of those far-flung divisions were not even located in the Atari headquarters building. The company had to call in a management firm to locate some 48 engineering groups in the U.S. It found a one-man operation in Louisville, apparently there because that was where the engineer preferred to live. The company had five finance departments, each with...
...most successful players in the new-issue market is Arthur Rock, 57. During the past quarter of a century, he has compiled an extraordinary record of picking new companies and helping them grow into profitable giants (see box). In addition, he has become the cornerstone of the Silicon Valley investment community, where many of America's new industries are now taking shape. By investing money in dozens of companies, Rock has built a personal fortune of at least $200 million...
Since most of the big investment banking firms are based in New York, while many of the promising new companies are in Northern California's Silicon Valley, minidramas of the new-issues scene are often played out on the long nights from New York to San Francisco. Well-appointed investment bankers heading out to call on clients stretch out in first class. Farther back in the cabin, rumpled entrepreneurs, tired from a day trying to raise money, punch away at their calculators. Occasionally the coach passengers glimpse a bright future ahead. Well before Zitel, a small computer-memory company...
Among the things Hambrecht, 48, grows best are seedling companies. As a general partner in San Francisco-based Hambrecht & Quist, he has nourished several electronics firms in the fertile fields of Silicon Valley, including Convergent Technologies and VLSI. Unlike most other investment companies, Hambrecht & Quist will do it all for clients: provide venture capital, underwrite stock issues and lend management help...
...what a string of hits. In 1957 Rock assisted in arranging the financing for Fairchild Semiconductor, one of the first companies to make the silicon chips that are the building blocks for modern computers. In 1960 Rock helped finance Teledyne, a California conglomerate that makes a range of products that include Water Piks and jet engines. Last year it had sales of $3 billion. In 1961, the year he co-founded the Davis & Rock venture capital firm, Rock put up $280,000 to help start Scientific Data Systems, a computer maker; in 1969 the company was sold for some...