CORPORATIONS: Computer Casualty

Singer Co. showed such vigor in sewing up new acquisitions during the 1960s that Harvard Business School used it as a case study of successful diversification. Now the 124-year-old sewing-machine firm is trying hard to recover from the financial drain caused by some of its acquisitive deals. Last week Singer President Joseph B. Flavin, who was hired away from Xerox two months ago to help end Singer's deficits (TIME, Nov. 24), got started by dumping the business-machine division. It includes data-processing equipment, electronic cash registers and calculators, and has lost about $60 million since 1970. Singer thus joins a...

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