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.

Nondeposit trust facilities, Computer related services, not elsewhere classified, Case studies, Economic aspects, Services, Computer services industry, Information technology services industry, Securities industry, Maintenance and repair, Mainframe computers, Trust companies, Local area networks, LAN, Disaster recovery (Computers), Fiduciary Trust Company International, World Trade Center Bombing, 1993, Comdisco Disaster Recovery Services Inc., Comparison, Mainframe Computer, Disaster Recovery/Prevention Software, Disaster recovery software, Case Study

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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.

Electronic computers, Computer industry, Finance, Dell Inc., DELL, Price, Stock, Financial Stability, Losses, Second Quarter, Reduction

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