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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (6513)	5/24/1999 8:30:00 AM
From: bob gauthier	Read Replies (1) \| Respond to of 17183

EMC chief looks to fend off rivals By Wylie Wong Staff Writer, CNET News.com May 24, 1999, 4:00 a.m. PT Michael Ruettgers, chief executive of EMC, a maker of high-end storage systems, refuses to sit still. The initials EMC stand for "Everything Moves Constantly," he says, and Ruettgers wants to make sure that the company he took from $400 million in 1992 to $4 billion in 1998 is not caught flat-footed. EMC is the dominant storage system provider. But Hewlett-Packard, Sun Microsystems, and other hardware makers are taking a renewed interest in the storage market, and could present the first serious challenge to EMC in some time. Reuttgers was recently in New York City to speak at a conference, and afterward took time from his schedule to chat with CNET News.com. Standing on a Manhattan sidewalk, a backdrop of snarled traffic behind him perhaps emblematic of the problems faced by Internet companies when systems come to a crashing halt due to user overload, Ruettgers spoke about the Internet's potential, EMC's competition, and the outlook for the company's continued growth. Q: Where does EMC fit in the Internet economy? A: We see the advantage of the Internet for us of course. The Internet is just a way to access information, and the information is not useful to you unless it is always available. And we have seen so many Internet startups that have stumbled, whether it's E*Trade or the rest of these guys, who get going but then they have an outage. They can't trade for two hours. As soon as that occurs they lose half the market share. So people who go into this business need to have this robust, what we call info-structure so that information is always available. These systems need to be available all the time since competition is just a click away. If you aren't available, I'll just go somewhere else.