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Corning Inc - Coggle Diagram

- - - - Asahi glass 25%
      - Nippon 25%
- - - - 1952 invented Pyroceram which gave rise to consumer cookware called CorningWare whcih becomes huge success in 1958
        
        1960s they invent ChemCor which was shut down in 1971 due to lack of market
        
        1970s enters emissions control market for vehicle catalyctic converters which led to Celcor ceramic
        Also develops low-loss fiber optics which had no immediate application until the 90s
        
        2000 Corning stock trading at $290 per share driven by fibre optics
        Telecom business run by Weeks accounted for 70% revenues
        Weeks continues to invest into telecom speding 8b to acquire telecom gear makers/ 2b to increase fibre optic capacity/3.6b to acquire 90% of undersea optic business of Pirelli
        
        2001 Fibre optic bubble bursts and demand drops
        Telecom loses 5.2b
        Corning writes off Pirelli for 3.2b value
        
        June 2002 Shares trading at 4
        
        Vision was right but underlying industry economics were flawed
        
        Loose quits April 2002
        
        1 more item...
- - - - Being one of the first US corps to establish its own research center
        Jamie Houghton choses to invest in Weeks as a future leader
        After making CEO Weeks adapts shift from survive to thrive.
        Dismantles silo mentality and now encouraging miore movement of people and resources
        Names Weeks Corning's president after Loose abruptly retires despite criticisms. His reason was that he knew no one could have seen the telecom implosion coming.