Xerox Is Still Looking For Wall Street's Respect
Xerox Corp. spent most of the '90s reinventing its businesses, switching from the old light-lens copying machines to ones that moved information in bits and bytes. The digital revolution was well under way when Xerox directors charged Richard Thoman with transforming the company into a high-tech thoroughbred. But it hasn't worked out that way. Instead, since he became chief executive in April, 1999, Xerox has lost $20 billion in stock market value. And the old accusation--that Xerox helped usher in the computer age without profiting from it--remains firmly stuck on the Stamford (Conn.) company.
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