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Article: U.S. MEMORIES FACES DIM FUTURE, BUT ITS CHIEF REMAINS GUNG HO.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- November 23, 1989
CopyrightCOPYRIGHT 1989 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Knight-Ridder
Time is running out for U.S. Memories Inc., the fledgling memory chip consortium that raised high hopes for a return to competitiveness by the U.S. semiconductor industry.
With a self-imposed deadline of the end of the year, U.S. Memories has failed to sign up any new investors beyond the original seven companies, select a permanent site or negotiate a planned licensing agreement with IBM Corp. for its memory technology. Sanford Kane, the president of U.S. Memories, said last week that the start-up now would move forward if it could raise as little as half of the $500 million he originally said it needed.
U.S. Memories has ...