The painful lessons of disruption; exiles from the Trade Center learn the drawbacks of the computer era
Article Abstract:
The aftermath of the 1993 World Trade Center bombing teaches companies that use computers the need for a comprehensive disaster-recovery plan, even while it reveals flaws in some of the best-laid ones. The Fiduciary Trust Company International bank trust company benefits from having contracted with Comdisco Disaster Recovery Services for a backup site at its North Bergen, NJ, computing center in support of a well-considered disaster plan. Fiduciary uses networked microcomputers connected to a central array of DEC VAX minicomputers to keep track of its financial-instrument investments and trades. Since computer professionals make sure to backup data nightly onto tape, Fiduciary employees only needed to grab the tapes and the day's trading tickets before fleeing to ensure a speedy recovery. Not so lucky are the many companies that rely on networked microcomputers alone, whose employees TV viewers could see desperately clutching their machines as they fled the scene.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1993
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Bad news for Dell Computer
Article Abstract:
Dell Computer Corp announces on Jul 14 an estimated 2nd qtr 1993 loss of $1.65-$1.85 a share, the first quarterly loss in its history. Nasdaq traders respond by pushing the fourth-largest microcomputer vendor's stock down $3.375 to $15.875 a share, on a volume of 6.3 million shares. Dell stock sold for $49.375 in early 1993. If the loss materializes, it will put Dell in violation of agreements with the seven banks, including Citibank, which fund its $130 million revolving credit line. The company is negotiating with its creditors and looking into alternative financing to avoid default. It plans to charge $75-$85 million against 2nd qtr revenues to cover writedowns of older microcomputer models, cancellations of some notebook computer models and restructuring expenses, precipitating the loss. Sales continue up sharply over 1992, and Dell CFO Thomas J. Meredith expects a return to profitability by the 3rd qtr 1993.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1993
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