December 8, 2000 |
Unisys Corp. expects to meet analysts' fourth-quarter earnings estimate of 41 cents per share, the company said yesterday. During a conference with analysts in New York, the Blue Bell computer-services company also said it plans to take a fourth-quarter charge of $150 million to $175 million for 2,000 job cuts worldwide. Most of those cuts had been announced in the fall, when the company offered early retirement to 1,500 employees. Lawrence A. Weinbach, Unisys' chairman and chief executive officer, said yesterday that 750 employees had accepted that offer.
January 20, 1987 |
Unisys, the Detroit-based computer manufacturer created by the merger of Sperry and Burroughs, expects to report a net loss for 1986 as a result of the marriage between the two companies. W. Michael Blumenthal, Unisys' chairman, said, without giving any figures, that the company's full-year loss would not be "a significant amount. " The company reported earlier that it would post a loss of $250 million to $275 million in the fourth quarter. The 1986 loss is result of the merger-related, after-tax charge stemming from the layoffs and other streamlining measures Burroughs launched after it acquired Sperry last fall for $4.8 billion.
October 7, 1990 |
Unisys Corp. chief executive James Unruh headed out to the company's television studio in Princeton Wednesday morning and took to the interoffice airwaves. For about 45 minutes, in his calm, unflappable manner, Unruh sought to allay employees' fears about the company's future. From dozens of Unisys installations across the country, employees called in questions for Unruh and clustered around closed-circuit TV sets to listen to his replies. There is no cash crisis, Unruh assured them.
November 15, 1986 |
Unisys Corp. yesterday announced that it would sell its Aerospace Group for $1.025 billion to Honeywell Inc. The Aerospace Group is made up largely of the aerospace operations of the former Sperry Corp., which merged with Burroughs Corp. on Sept. 16. On Monday, the combined entity was renamed Unisys. The deal will be the second major asset sale by Unisys, which last week said it would sell most of the Memorex subsidiary of the former Burroughs Corp. for $550 million. Completion of the two deals, expected by the end of the year, would meet the company's goal of raising $1.5 billion through asset sales to help reduce the $3.4 billion in debt incurred by Burroughs in its acquisition of Sperry.
March 26, 1987 |
In a bid to claw its way onto IBM's turf in the market for desktop computers, Unisys Corp. yesterday announced a new, more powerful desktop model based on Intel Corp.'s 80386 microprocessor. The 80386 chip, which broadens the range of functions that can be performed by desktop computers, is expected to become the the industry standard for the next generation of small computers. A number of other companies already are shipping computers that use the chip, and IBM is expected to introduce an 80386-based machine next Thursday that will be the successor to its PC series of personal computers.
November 22, 1990 |
Unisys Corp. has disclosed new details about how close it is to borrowing limits and other restrictions on its loan agreements with banks. The Blue Bell computer company, in a filing this week with the Securities and Exchange Commission, disclosed that its agreement with a bank syndicate required Unisys to have a minimum net worth - assets minus debts - of $3.5 billion. As of Sept. 30, Unisys had net worth, as defined by the banks, of $3.82 billion. The narrow margin on net worth could cause trouble for Unisys in two ways.
January 22, 1987 |
The Whitpain Board of Supervisors has denied an ordinance that would permit a Blue Bell computer company to construct a private heliport on its property. During a meeting Monday night, the board voted 3-0 to deny an ordinance requested by Unisys Corp. to allow heliports in I-Limited Industrial Districts in the township. Supervisors Leigh Narducci and William DeWald did not vote because of possible business conflicts. The supervisors had a hearing on the request last month.
May 7, 1989 |
In 1986, Unisys Corp. chairman W. Michael Blumenthal predicted that sales would begin to take off in late 1988, and really soar in 1989. Instead, the Blue Bell company is talking about making a Lazarus-like recovery in the second half of this year just to match 1988 sales and profits. And some Wall Street analysts are wondering whether Unisys ever will do more than hold its own in the increasingly turbulent computer environment. Indeed, Unisys has been accident-prone for the last six months.
August 13, 2008 |
Unisys Corp. and high-rise residents of Two Liberty Place will continue their argument at a hearing tomorrow over whether the company can put its logo in large red letters near the top of the Center City building. The hearing at Philadelphia's Zoning Board of Adjustment, 1515 Arch St., will begin at 9 a.m. It follows a July 23 hearing that was so contentious that the board had to schedule another one so everyone could be heard. The battle pits Unisys, which plans to move its headquarters from Blue Bell to Two Liberty next year, against owners of luxury condominiums in the building.
May 5, 1993 |
Attorney General Ernie Preate Jr. and Pennsylvania Insurance Commissioner Cynthia M. Maleski yesterday joined in a class-action suit aimed at extending state protection to pensions for Unisys Corp. retirees in the state. Preate and Maleski said they have asked Commonwealth Court to rule that certain pension benefits purchased for Unisys employees from the now-insolvent Executive Life Insurance Co. of California be covered by the state insurance guaranty fund. "Such action would ensure that Pennsylvania employees' pensions are not placed in jeopardy by Executive Life's insolvency," they said in a statement.