At 100, IBM inventions part of daily routine
New York, NY, United States
June 16, 2011 10:34 am EDT
Economy, Business And Finance, Company Information, Corporate Profile, Economy, Business And Finance, Computing And Information Technology, Science And Technology, Technology
IBM has entered a small group of companies celebrating its anniversary of 100 years in business this year.
The corporate giant known as Big Blue ranks fifth in terms of value with $197 billion invested in it, not far behind Microsoft with $200 billion.
IBM officials put the rarity of the companies' position into perspective in an essay posted on the company website.
"Of the top 25 industrial corporations in the United States in 1900, only two remained on that list at the start of the 1960s. And of the top 25 companies on the Fortune 500 in 1961, only six remain there today."
Although IBM is known for its mainframe and personal computers, the company has sold a variety of products over the years and is responsible for inventing some of the technology people take for granted today.
That includes the ubiquitous bar codes that transformed the retail industry, which IBM invented in 1973. Along the way IBM also invented coffee grinders, butcher scales, time clocks, punch-card machines and electric typewriters, to name a few.
IBM stock was trading on the New York Stock Exchange for $162.98 per share at midmorning Thursday.
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