So Much For Diversification

In the early 1980s, Xerox Corp. eagerly diversified into financial services. The aim: to shore up the flagging core of its business, copiers. On Jan. 18, Xerox pulled an about-face. As many in the industry and on Wall Street had expected, the company announced plans to ditch its insurance and investment-banking businesses--and to focus entirely on its newly resuscitated office-machines operations.

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