BUSINESS NOTES.PANEL RULES IN FAVOR OF CRAY: The U.S. International Trade Commission concluded that NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Corp. dumped Japanese-made supercomputers on the U.S. market at less than fair value, and that sales of those computers hurt the only U.S. maker of supercomputers, Cray Research See Cray. , an ITC ITC (Brit) n abbr (= Independent Television Commission) → Fernseh-Aufsichtsgremium ITC n abbr (BRIT) (= Independent Television Commission) → spokeswoman said. A spokesman for Japan-based NEC denied the charges. The commission, voting 3-0, found injury to the U.S. supercomputer industry, represented by Cray Research, said spokesman Peg O'Laughlin. The Eagan, Minn.-based company filed a complaint against NEC last September. Cray claimed that the Japanese company took a $65 million loss in a contract with the National Center for Atmospheric Research The National Center for Atmospheric Research (NCAR) is a non-governmental U.S.-based institute whose stated mission is "exploring and understanding our atmosphere and its interactions with the Sun, the oceans, the biosphere, and human society. to deliver four supercomputers over five years. ?13- Bloomberg News APPLE REVAMPS BUSINESS PRACTICE: Apple Computer Inc. is following the example of successful PC clone A PC that is not made by one of the major PC vendors. Years ago, it meant any PC not made by IBM. See white box and PC compatible. companies by revamping the way it does business with its resellers. The company hopes the changes announced Friday will get more of its Macintoshes in the public eye, make retailers better advocates for Apple products and reduce inventories. Apple, based in Cupertino, said it will lower the sales volume resellers must have before they can buy Macintoshes directly. ?13- Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. FUND MANAGER CHARGED: The owner of two Pennsylvania investment adviser firms was charged by the Securities and Exchange Commission today with defrauding 75 school districts in the state. The districts lost $71 million from $233 million invested through Devon Capital Management and its affiliate, Financial Management Sciences, both in Tyrone, Pa., the SEC said. The firms are owned by John Gardner
John Champlin Gardner, Jr. (July 21, 1933 – September 14, 1982) was an American novelist and university teacher. Black, who the SEC said diverted at least $2 million of the school districts' money to personal and business expenses since January 1996. Black, who lives in Broad Top, Pa., couldn't be reached for comment. ?13- Bloomberg News TOYOTA SETTLEMENT APPROVED: A federal judge has approved a settlement of an overcharging suit that will offer 3 million Toyota customers $150 coupons toward another Toyota. The suit, filed on behalf of people who bought Toyotas in the United States between April 20, 1990, and Sept. 30, 1994, accused the company of inflating the price by including an advertising cost in its invoices to dealers. ?13- Associated Press |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion