No sooner did news break that Larry Summers would step down as director of the National Economic Council than speculation began on his successor. White House aides hinted they wanted a prominent corporate executive. Anne Mulcahy, who led a painful turnaround at Xerox, was soon being named as the top candidate to fill Summers' shoes.
When I became CEO of Xerox nine years ago, the stock had tumbled, debt was mounting, and people kept asking me to consider bankruptcy. I refused. I considered my professional home of 25 years a company worth saving, and I felt personally responsible for tens of thousands of employees depending on it.
Talk about bold. Just weeks after taking over as Xerox's CEO last July, Ursula Burns announced the biggest deal in the company's history: the $6.4 billion acquisition of Affiliated Computer Services, an outsourcing firm most people had never heard of. Xerox needed dramatic action.
It may be the most iconic piece of office equipment of the past half-century.
Google and Yahoo plan to fight a lawsuit filed last week by Xerox, which claims that the two search-engine giants infringed on the copier and printing company's patents.
Long before digital tools such as listservs, e-mail blasts, and even Facebook enabled us to easily broadcast messages, photocopies were the most efficient way to distribute information to groups of all sizes.
Scientists are claiming to have found the "silver bullet" that will enable the cheap, easy printing of electronic components and transform the way we use computers.
U.S. stocks were poised for small gains Monday, as investors digested a pair of multi-billion dollar mergers.
Now may not seem like the ideal time to launch a high-end product aimed at the business world, but that is just what Xerox decided to do when it unveiled its new ColorQube solid-ink multifunction printer series in May.
Xerox Chairman and Chief Executive Officer Anne Mulcahy will pass the torch to the current president, Ursula Burns, effective July 1, according to a statement from the company. Mulcahy will remain as the chairman of the board.
Xerox Corp. (XRX) Chairman and Chief Executive Anne M. Mulcahy will give up day-to-day oversight of the company she helped turn around, retiring July 1 and being succeeded as CEO by President Ursula M. Burns.
I'm an eternal optimist. Of course the economy will improve, and when it does, the businesses that will be best poised to succeed are the ones that didn't mortgage their future.
Shares of document services and imaging company Xerox Corp. rose nearly 20% Monday after the company said it is in a strong position and its 2009 profit would be roughly in line with analysts' forecasts.
Almost everyone applauds when companies adapt green practices. But will those practices make a meaningful difference to the environment?
updated: Mon Dec 03 2007 10:31:00
Global businesses have called for a legally-binding, comprehensive deal on climate change. CNN's Charles Hodson reports.
For seven years Anne Mulcahy and Ursula Burns had worked together like combat soldiers in the same foxhole, and there was no reason to believe this year would be any different.
Xerox Corp. declared a quarterly cash dividend company on Monday, the first in more than six years.
Xerox Corp. posted a higher-than-expected quarterly profit Wednesday, but concerns about margins and the pace of equipment sales pushed its stock down more than 5 percent.
If all goes as scheduled, President Bush will hand Xerox's Sophie Vandebroek the National Medal of Technology at the White House in late July. It will be a sweet moment for her and for a company that was built on a world-changing innovation - xerography - but that lost its way for a while in the Digital Revolution.
Women exercise power horizontally. I've said this often -- in speeches about women leaders, in Arianna's latest book ("On Becoming Fearless"), and at Fortune's Most Powerful Women Summit, an annual event that I chair. Not that women aren't gaining clout vertically. These days a businesswoman must oversee some $6 billion in annual revenues to make it onto Fortune's annual Most Powerful Women list. That compares to around $1 billion when we started ranking corporate women in 1998.
Technology shares slumped and the broader market wobbled, as rising oil prices and a weaker-than-expected manufacturing report overshadowed any enthusiasm about the day's spate of corporate deals.
Stocks struggled for direction Monday afternoon as a weaker-than-expected manufacturing report vied with enthusiasm about the day's spate of corporate deals.
Stocks were mixed Monday morning as a weaker-than-expected manufacturing report vied with enthusiasm about the day's spate of corporate deals.
Xerox announced a deal Monday to acquire Global Imaging Systems for $1.5 billion.
As we think about our future at Xerox, it's becoming less valuable to be able to predict it and more valuable to be able to adapt. That's not to say you don't
Anne Mulcahy, Chairman and CEO of Xerox, ranks No. 2 on Fortune's 2006 list of 50 Most Powerful Women.
Xerox ranks no. 431 on FORTUNE's Global 500 this year, with $15.7 billion in revenues, down .1% from the previous year. The Stamford, Connecticut-based company was ranked no. 381 on the 2005 list. Its 2005 profits were $1.0 billion, up 13.9% from a year earlier.
Fortune interviews Anne Mulcahy, CEO, Xerox Corporation:
The defense's core argument in the Enron trial--that senior executives were ignorant of their company's troubles--sounds depressingly familiar. Specifically, it reminds me of how so many chief exec...
Here's what you need to know about Ursula Burns. As Xerox was teetering on the brink of bankruptcy in early 2001, Burns was in charge of one of the crucial parts of the company's turnaround -- holding contract talks with its 2,000 unionized workers in Rochester, N.Y. -- even as she was exploring the outsourcing of their jobs.
She was not the obvious choice to lead Xerox through its darkest hour, but four years and one miraculous turnaround later, no one is questioning Anne Mulcahy's leadership anymore. A nearly 30-year ...
Xerox Corp., the world's biggest maker of office copiers and printers, Thursday said its quarterly profit fell as revenue declined, but said sales of its lucrative digital color equipment systems improved.
GALLONS OF INK HAVE BEEN SPILLED to chronicle the fall and rise of Eastman Kodak and Xerox, two blue-chip American companies whose turnarounds have captivated the business world over the past few y...
Xerox looked like a lost cause when Anne Mulcahy took the helm back in July 2001. The copy-machine giant was eyeball-deep in debt and red ink--and then came an accounting scandal. Soon Xerox was be...
Xerox looked like a lost cause when Anne Mulcahy took the helm back in July 2001. The copy-machine giant was eyeball-deep in debt and red ink -- and then came an accounting scandal. Soon Xerox was being lumped with the likes of Enron and WorldCom.
Corporations don't lie, cheat or steal. The people who work for them sometimes do. This is important to keep in mind as you read the latest news about $2 million toga parties, incriminating e-mails...
Moments before Anne Mulcahy's annual meeting began, one of her board members did something that rarely, if ever, happened during the endless business inferno at Xerox. Something that three years of...
When he ran Canon's North American division, Fujio Mitarai enjoyed playing golf with Jack Welch at the Fairfield Country Club in Connecticut. He liked talking business with the then-CEO of General ...
With circumstantial evidence of a recovery in the tech sector trickling in, some investors think they see bargains in once-sizzling stocks like Amazon and Cisco. Fund manager Bill Nygren isn't conv...
There's nothing like a bear market to thrust a bad board into the spotlight. Accordingly, FORTUNE's fourth annual list of America's worst boards consists mostly of newcomers--corporations whose gov...
Servers Get Chic
First the bad news. AT&T, P&G, Ford, Xerox, and a host of other well-known "widow and orphan" stocks announced that they would cut their dividends in 2001. It seemed the desperate measure that thes...
Xerox, whose name is synonymous with copiers, can't seem to stop duplicating its own mistakes. In the early 1980s, the venerable company was almost killed off by Japanese producers that sold copier...
Xerox is trying to right itself--again. David Kearns saved the copier king once, and Paul Allaire made digital strides a decade later. But Allaire's handoff to ex-IBMer Rick Thoman bombed. Allaire ...
No sooner had the economy started to slow than investors began to worry that it would slow too much, causing more and more companies to miss their earnings targets. Already a number of well-known c...
Why is sharing knowledge hard? Why do ideas sit off in one corner of a company, as inert as argon, when they could bubble and fizz and precipitate gold somewhere else? The question comes up all the...
Despite the bluster about the new economy, there's not much that's actually new. Productivity growth is no faster than in the 1960s. Inflation hasn't been tamed (look no further than Wall Street's ...
Earlier this month, analysts gave Xerox CEO Rick Thoman till the fourth quarter to save his job following a dismal inaugural year. It turns out he had only a couple of weeks.
Is it IBM circa 1993? That's the question a lot of investors are asking these days about Xerox, the venerable blue chip that's become a Wall Street punching bag after having blown the past two quar...
Fire sale at Saks
Anyone at all familiar with Xerox knows these three factoids: (1) The company makes copiers. (2) It used to be a glam stock. And (3) Xerox invented all kinds of incredible computer technology, whic...
Ken Schapiro loves his Xerox. The 32-year-old hedge fund manager bought 10,000 shares of the stock in January. Since then it's gone from $80 to over $100. Schapiro got tipped off to the company's s...
Some managers wait for all the evidence before acknowledging a major change in competitive reality; others can smell it and act. Those in the first group are looking at macroeconomic indicators say...
With their impeccable pedigrees, blue-chip companies are the royalty of the investing world. But recently, many seem to be in danger of losing their crowns. At a time when the market as a whole is ...
Let's face it. The way your job is expanding into nights and weekends, you'll either have to equip a top-flight office in your home or start stashing a toothbrush and pajamas in your desk. And the ...
There's an odd thing happening with technology companies today--the strong are getting stronger. As we surveyed the trends investors should watch, we were surprised by the faith industry experts ha...
XEROX CORP. (XRX) NYSE, $79; 1.6% YIELD
Scott Pennington, a Xerox Webmaster in Dallas, knows all manner of arcane facts. He can tell you that on Memorial Day weekend, Xerox field and sales people downloaded one set of files from his inte...
"If I had it to do over, I wouldn't choose to be blind," says Peter Torpey, 44, a physicist at Xerox's Wilson Research Center near Rochester, New York. "But I have a fun position at work, and I'm a...
Day after day I've overheard the budget makers commiserating in the elevator: "How're you doing?" "Getting there, but it's a bitch. How about you?" Every year it's the same. They come back from sum...
Perhaps because the world looks tilted from Stewart Brand's office, a rickety fishing boat propped at a curious angle in a California parking lot, it doesn't seem all that strange when he lifts a h...
Imagine creating a brand name so powerful that it became a verb in the English language. Then imagine what it would take to squander such predominance. Well, the people at Xerox Corp. (XRX, NYSE, $...
IN THE UNENDING DRIVE for productivity and profits, companies are taking reengineering to new frontiers. They are knocking down walls, selling off buildings, and otherwise revolutionizing the once ...
Science isn't only for people who tape their glasses. That's the message of U.S. First, a nonprofit organization that holds an annual competition in which professional engineers and high school stu...
The holiday season did little to slow job cuts among the FORTUNE 500. Since September, Xerox, RJR Nabisco, Philip Morris, Baxter International, BankAmerica, ITT, Woolworth, and US West have announc...
Think of health maintenance organizations as Bill Clinton's No. 1 weapon in the war against runaway health care spending. Conventional fee-for-service health insurance, which passively pays bills a...
) POLITICAL tides can sweep in with astonishing power. A previously apathetic public suddenly demands action. Sensing opportunity, leaders reach for arcane remedies understood by a handful of exper...
LET'S TRAVEL FORWARD in time a few years. Joe Jones, a union leader at Autoparts R Us Inc., is addressing his fellow members on the company's board of directors. He is wearing a hard hat. After con...
EPOCHAL EVENTS often go unnoticed at the time they occur. The morning after the Wright brothers proved that heavier-than-air machines can stay aloft, no metropolitan dailies proclaimed MAN FLIES in...
LAWRENCE A. BOSSIDY, chief executive of Allied-Signal since July 1991, grew up in Pittsfield, Massachusetts, in the shadow of General Electric's big transformer works. In high school he was a star ...
WHEN HE WAS in charge of General Motors' highly profitable European operation, John F. Smith Jr. always asked the same question before approving a major investment: ''Have you benchmarked?'' By tha...
The number of books that end up committing literary hara-kiri while agonizing over the competitive prowess of Japan could probably be piled higher than Mount Fuji. Now comes one that actually tells...
Soon after becoming CEO of Xerox in 1982, David Kearns realized that his dream job was akin to being named captain of a sinking ship. Or so he confesses in Prophets in the Dark, due to hit stores i...
-- BARRY RAND, 47, whose recent promotion to executive VP of operations at % Xerox makes him one of the highest-ranking blacks at a FORTUNE 500 company, on his role as standard-bearer for a heterog...
In the treasure hunt for promising stocks, investors often rely on tried and true markers to find the best buys: Low price/earnings multiples, rich asset values, and lofty dividend yields are among...
Japan's politicians -- including Prime Minister Kiichi Miyazawa -- made headlines, and enemies, earlier this year by sneering that American companies can't hack it overseas because our lazy workers...
AT&T, Berkshire Hathaway, Honeywell, J.P. Morgan, Pfizer, Xerox, and some 70 other corporations have invested $263 million in low-income housing projects since 1987, creating 8,000 homes. In return...
If Paul Allaire gets his way, and CEOs often do, the rock & roll is going to start soon at Xerox's headquarters in Stamford, Connecticut. Says Allaire, 52: ''We changed a lot in the 1980s, but in t...
- DONALD TRUMP, 44, debt-strapped ex-billionaire: ''Mark my words. In 12 months I will be worth more than I was two years ago.'' -- PAUL A. STRASSMANN, 62, a retired VP for strategic planning at Xe...
CAR RENTAL TERMINAL If you love ATMs, wait until you see Budget Rent a Car's Remote Transaction Booths (RTBs). These three-by-five-foot machines allow anyone with a driver's license and major credi...
With so many stocks hitting new highs, shopping for shares today is like picking through a fancy boutique on Rodeo Drive. But take heart. At least one stock strategy is still turning up plenty of a...
''Go do a Nexis search on how the lawyers are making it impossible to check job references,'' was the lead on a recent unsolicited story suggestion, ''and you will find a zillion examples.'' We nev...
If you measure yourself against the criteria laid out by the Baldrige award, you have a blueprint for a better company. -- Jerry Junkins, CEO, Texas Instruments
IT IS THE WORST OF TIMES for middle managers, that beleaguered band of demibosses currently blamed for most ills afflicting corporate America. Either their jobs are vanishing in mergers, takeovers,...
As a single, 24-year-old service technician for Xerox, Tim Taylor of Portland, Ore. wasn't dreaming of retirement when he began investing in his company's savings plan through payroll deductions in...
ONE SUNDAY MORNING in the summer of 1986, six Marriott employees on a secret intelligence mission checked into a cheap hotel outside the Atlanta airport. Once inside their $30-a-night rooms, decora...
IT'S BEEN a long time coming, but American manufacturers finally have reasons to be optimistic. Profits are rising, and so are exports. With the engines of many industries revved up to capacity, th...
Sensing trouble ahead in the stock market, William Manning began buying long- term government bonds late in 1986. By the end of September 1987, 49% of the $2.2 billion he manages as a partner in Ma...
In the early 1970s, Xerox ranked high among the Nifty Fifty stocks adored by institutional investors. But then relentless cost cutting by Japanese competitors sent Xerox into a slump. And now, desp...
THE COMPANY looked like a sure winner in home videocassette recorders. N.V. Philips' Gloeilampenfabrieken, the Dutch giant of consumer electronics, marketed the first practical VCR in 1972, three y...
COST CUTTING is the new religion of business. More and more managers, having learned a lesson recently, are set to cope whether the future brings recession or boom. They are the new cost-busters, c...
AMERICAN managers in the U.S. who latched on to Japanese-style just-in-time production methods as a panacea for their manufacturing woes are finding that making the cure work is tougher than they e...
Sol M. Linowitz has had a life that many businessmen surely envy. Coming from a family in straitened circumstances, he was immensely successful as a lawyer and then a corporate executive. As an ins...
Xerox, copying the style of Silicon Valley product announcements, held an elegantly staged press conference to introduce several desktop computers, printers, and software programs. Xerox Chief Exec...
Jay O. Darling Darling's rise should inspire burger flippers everywhere. He joined Burger King Corp. (1984 sales: $1.2 billion) 14 years ago as an assistant manager trainee at a branch on his nativ...
GET OFF the stage, Willy Loman. A smile and a shoeshine won't do it any longer. The fast-talking, yarn-spinning, hard-drinking peddler belongs to the past. Today's sales training teaches the salesp...
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