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Miniscribe
MiniScribe Corporation was a manufacturer of disk storage products, founded in Longmont, Colorado in 1980. MiniScribe designed and sold stepper motor-based hard disk drives with a large amount of onboard logic for the time. They eventually moved into higher-profile voice coil motor designs, and won major contracts with IBM. Massive financial fraud starting in 1987 led to bankruptcy in 1990, when their assets were bought by Maxtor and renamed Maxtor Colorado Corporation. Foundation, early slump, and recapitalization The company was started by Terry Johnson, who had a 20-year career in the hard drive business at such companies as IBM, Memorex and Storage Technology Corporation. MiniScribe became a major player when it won a series of contracts to supply IBM's PC division, and their subsequent rapid growth led to an initial public offering in late 1983, opening for trading in January 1984. However, slow sales of the IBM PC/XT led IBM to dramatically scale back their orders lat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terry Johnson (entrepreneur)
Terry Johnson (March 14, 1935 – July 24, 2010) was an engineer and entrepreneur notable for his pioneering work on hard disk drives (HDD). Johnson's early career included engineering and management roles in magnetic recording at IBM (1964–70) and Memorex (1971–73). He then joined in the development of STC 8000 Super Disk, a high-end, rotary actuator HDD funded by StorageTek. In 1980, he left StorageTek to found a startup, Miniscribe, a manufacturer of 5.25 inch HDDs. In 1985, he started another new company, CoData, that subsequently merged with Conner Peripherals in 1986. CoData's 3.5-inch drive became Conner's first product. In 1985, Johnson co-founded PrairieTek, the first maker of 2.5 inch drives. Terry Johnson died in the Northwest Territories, Canada, when his private aircraft crashed during his return from a canoe trip. Background Terry Johnson was born in Ogden, Utah, on March 14, 1935. On graduating high-school, he signed up for four years with the US Navy as an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maxtor
Maxtor was an American computer hard disk drive manufacturer. Founded in 1982, it was the third largest hard disk drive manufacturer in the world before being purchased by Seagate in 2006. History Overview In 1981, three former IBM employees began searching for funding, and Maxtor was founded the following year. In 1983, Maxtor shipped its first product, the Maxtor XT-1140. In 1985, Maxtor filed its initial public offering and started trading on the New York Stock Exchange as "MXO." Maxtor bought hard drive manufacturer MiniScribe in 1990. Maxtor was getting close to bankruptcy in 1992 and closed its engineering operations in San Jose, California, in 1993. In 1996, Maxtor introduced its DiamondMax line of hard drives with DSP-based architecture. In 2000, Maxtor acquired Quantum's hard drive division, which gave Maxtor the ATA/133 hard drive interface and helped Maxtor revive its server hard drive market. In 2006, Maxtor was acquired by Seagate. Early financing The Max ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CoData (company)
Conner Peripherals (commonly referred to as Conner) was a company that manufactured hard drives for personal computers. Conner Peripherals was founded in 1985 by Seagate Technology co-founder and San Jose State University alumnus Finis Conner (1943– ). In 1986, they merged with CoData, a Colorado start-up founded by MiniScribe founders Terry Johnson and John Squires. CoData was developing a new type of small hard disk that put the capacity of a 5.25-inch drive into the smaller (and now commonplace) 3.5-inch format. The CoData drive was the first Conner Peripherals product. The company was partially financed by Compaq, who was also a major customer for many years. Hard disks Design concepts Conner's drives were notable for eschewing the "tub" type of head-disk assembly, where the disks are inside a large base casting shaped like a square bowl or vault with a flat lid; instead, they preferred the flat base plate approach, which was more resistant to shock and less likely to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insider Trading
Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information is illegal. This is because it is seen as unfair to other investors who do not have access to the information, as the investor with insider information could potentially make larger profits than a typical investor could make. The rules governing insider trading are complex and vary significantly from country to country. The extent of enforcement also varies from one country to another. The definition of insider in one jurisdiction can be broad, and may cover not only insiders themselves but also any persons related to them, such as brokers, associates, and even family members. A person who becomes aware of non-public information and trades on that basis may be guilty of a crime. Trading by specific insiders, such as employees, is commonl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Layoff
A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) for business reasons, such as personnel management or downsizing (reducing the size of) an organization. Originally, ''layoff'' referred exclusively to a temporary interruption in work, or employment but this has evolved to a permanent elimination of a position in both British and US English, requiring the addition of "temporary" to specify the original meaning of the word. A layoff is not to be confused with wrongful termination. ''Laid off workers'' or ''displaced workers'' are workers who have lost or left their jobs because their employer has closed or moved, there was insufficient work for them to do, or their position or shift was abolished (Borbely, 2011). Downsizing in a company is defined to involve the reduction of employees in a workforce. Downsizing in companies became a popular practice in the 1980s and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Channel Stuffing
Channel stuffing is a business practice in which a company, or a sales force within a company, inflates its sales figures by forcing more products through a distribution channel than the channel is capable of selling. Also known as trade loading, this can be the result of a company attempting to inflate its sales figures. Alternatively, it can be a consequence of a poorly-managed sales force attempting to meet short-term objectives and quotas in a way that is detrimental to a company in the long term. Channel stuffing has a number of long-term consequences for a company. Firstly, distributors will often return any unsold goods to the company, incurring a carrying cost and also developing a backlog of product inventory. Wildly fluctuating demand, combined with the excess inventory, leads to costly overtime and factory shutdowns. Even mild channel stuffing can spiral out of control as the sales department works to make up for prior overselling. Discounts used to drive trade loading ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bad Debt
Bad debt, occasionally called uncollectible accounts expense, is a monetary amount owed to a creditor that is unlikely to be paid and for which the creditor is not willing to take action to collect for various reasons, often due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency. There are various technical definitions of what constitutes a bad debt, depending on accounting conventions, regulatory treatment and the institution provisioning. In the USA, bank loans with more than ninety days' arrears become "problem loans". Accounting sources advise that the full amount of a bad debt be written off to the profit and loss account or a provision for bad debts as soon as it is foreseen. Doubtful debt Doubtful debts are those debts which a business or individual is unlikely to be able to collect. The reasons for potential non-payment can include disputes oversupply, delivery, the condition of the item, or the appearance of fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital media, digital subscribers. It also is a producer of popular podcasts such as ''The Daily (podcast), The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones (publisher), George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won List of Pulitzer Prizes awarded to The New York Times, 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked List of newspapers by circulation, 18th in the world by circulation and List of newspapers in the United States, 3rd in the U.S. The paper is owned by the New York Times Company, which is Public company, publicly traded. It has been governed by the Sulzberger family since 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounts Receivable
Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes. Overview Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an establ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Directors
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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