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The Corporate Management Committee replaces the Management Review Committee and the Management Committee.
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IBM announces Systems Network Architecture (SNA), a networking protocol for computing systems. SNA is a uniform set of rules and procedures for computer communications to free computer users from the technical complexities of communicating through local, national, and international computer networks. SNA becomes the most widely used system for data processing until more open architecture standards were approved in the 1990s.
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John R. Opel is elected president of IBM.
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Arthur K. Watson, the former Ambassador to France and former chairman of the IBM World Trade Corporation, dies.
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Other products announced in 1974 include the 3850 Mass Storage System, and the IBM Memory Typewriter that stores typed information and can recall previously typed material for revision.
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IBM signs a contract with NASA to develop a telemetry online processing system (TELOPS) that will accept satellite experiment data, process it, and store up to one trillion bits of information. The company also receives a contract from the U.S. Navy to develop the LAMPS (Light Airborne Multipurpose System) MK III ship/air weapon system.
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A two-year IBM-funded data security study, done in cooperation with MIT, TRW Systems, and the State of Illinois, results in data security guidelines for users.
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IBM scientists develop Bubble Lattice Storage, to increase the storage capacity of bubble memory.
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In response the Energy Crisis, IBM's energy conservation programs produce fuel savings of 31.7 percent; electricity use for 1974 is 22.8 percent below the pre-conservation level.
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Employees |
292,350
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Stockholders |
589,214 |
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Revenue |
$12.67
B
+ 15 % |
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Net earnings |
$1.83 B
+ 17 % |
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