Intelligent, a PC dealer, agrees to buy BizMart

Article Abstract:

Intelligent Electronics Inc of Exton, PA, agrees to acquire BizMart Inc, based in Dallas, TX, for about $192 million. Intelligent, which sells microcomputers to businesses, is offering $16.50 a share for BizMart, which sells office supplies and products through 57 high-volume stores that are located mostly in the Midwest, Southwest and West. The acquisition will signify Intelligent's entry into retailing. Intelligent has annual sales of $1.46 billion, up from $80.8 million in 1987. Intelligent has not disclosed plans, but industry observers say that Intelligent will probably use BizMart's stores as outlets for brand-name microcomputers. BizMart's shares rose $1.75 on Mon, May 13, 1991, closing at $16.25 a share in over-the-counter trading. Intelligent's shares lost $2.25, closing at $24.75.

Computers, peripherals & software, Patent owners and lessors, Stationery and office supplies, Microcomputers, Mergers, acquisitions and divestments, Consumer electronics, Computer stores, Distribution channels, Microcomputer, Retail/Reseller Channel, Stock, Acquisition, Market Entry, Intelligent Electronics Inc., INEL, BizMart Inc., BZMT

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Success of AT&T's Universal card puts pressure on big banks to reduce rates

Article Abstract:

AT and T's Universal credit card is having wild success at the expense of larger banks such as BankAmerica Corp, CitiCorp and Chase Manhattan Corp. Industry observers note that the new credit card is already posting profits, two years before it was expected to do so. Analysts note that the lower interest rates that AT and T charges its Visa and MasterCard holders is part of the formula for success; AT and T charges only 16.4 percent, compared with 19.8 percent charged by most other banks. Reports indicate that consumers are putting away or cancelling their costly credit cards in favor of using the AT and T card. AT and T officials point out that it is possible to break the mold in the credit card industry and become successful.

Short-term business credit, Management, Usage, Credit cards, T, Interest rates, Credit and debit card industry, Credit card industry, Credit, American Telephone and Telegraph Co., Market Analysis

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Kodak optical disk stores more data than other devices

Article Abstract:

Eastman Kodak Co introduces a 14-inch optical disk storage device that can hold 20 percent more data than the largest capacity disk currently available. The disk can store 8.2Gbytes of information, or 2.7 million typewritten pages. Kodak will also introduce a large-capacity automated disk library, capable of storing as many as five 5.25-inch optical disks. The ADL 560, $25,000, could thus store about 75Gbytes of information in a three-foot-square case. With the introduction of these storage systems, Kodak is attempting to become a leader in the optical disk market. The top two companies that Kodak will have to unseat are Sony Corp and Hitachi Maxell.

Computer storage devices, Product introduction, Disk drives, Optical disks (Storage media), Eastman Kodak Co., EK, Optical disk drives, Optical disks, product announcement, Optical Disk Drive, Kodak ADL 560 (Optical disk drive)

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