Cray Computer seeks investors as losses rise

Article Abstract:

Publicity shy supercomputing legend Seymour Cray, in an effort to attract investors to his struggling Cray Computer Corp, is giving a limited number of interviews about the firm's progress. The company also announces a 1992 loss of $50.4 million on $333,000 in revenue, compared to a 1991 loss of $52.2 million on $334,000 revenue. Reportedly, Cray Computer will ship the first Cray 3 supercomputer in Mar 1993 to the National Center for Atmospheric Research and is working on the Cray 4. Seymour Cray formed the company in 1989 after leaving Cray Research Inc. A delay in shipping the Cray 3 led to Cray Computer losing its first big contract, with Lawrence Livermore Laboratories. The Cray 3 will feature a gallium arsenide processor, the world's fastest, with a reported clock speed of 2.0 nanoseconds, or one-billionths of a second.

Product development, Supercomputers, Public relations, Supercomputer, CRAY, Losses, Annual Report, Cray Computer Corp., Cray, Seymour R., Cray Computer Cray-3 (Supercomputer)

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Sun Microsystems puts limits on spending

Article Abstract:

Sun Microsystems Inc, which makes computer workstations, imposes spending controls and a hiring freeze. Responding to growing business uncertainty and concerned about a possible recession, the company will halt hiring, reduce contractors and consultants, limit corporate travel and cancel discretionary expenses. In a memorandum, CEO Scott McNealy cites reasons: leading economic indicators are down, capital spending plans seem to be weakening and the situation is compounded by uncertainties arising from the Middle East crisis.

Management, Sun Microsystems Inc., SUNW, Employee selection, McNealy, Scott, Workstations, Cost, Computer Industry, Hiring

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