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Technology Stocks : Intel Corporation (INTC)
INTC 42.17+4.1%12:17 PM EST
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To: Joe NYC who wrote (127991)2/21/2001 10:12:54 AM
From: greg s  Read Replies (2) of 186894
 
Jozef, re:mid-80s recession didn't exist

I started work for Intel in '82. This was before Intel had recreated itself into a microprocessor company. Their bread and butter was memory. Intel had just come off a major belt tightening called "The 125% Solution" where hiring was curtailed and everyone was urged to work 25% longer than normal (BTW, this was really a 150%+ solution, as a 125% effort is the norm at Intel).

So, there was a brief period of hiring (mostly engineers and technical MBA's), then another lean period in the mid-80's where everyone took a reduced salary (which Intel paid back, in the end). These were tough times, the Japanese memory firms were killing us. There was lots of talk about them dumping memory at prices below cost, etc. This was, in the words of Andy Grove, a strategic inflection point. Born of this period of turmoil was the recreated Intel, then focused on the microprocessor as it's motive force.

greg
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