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W Y Shugart & Sons Inc history
W Y Shugart & Sons Inc company history timeline
The current courthouse is one of three in Fort Payne built after 1878.
The City of Fort Payne is incorporated on February 28, 1889.
Inside, Jonathan Shugart, president of W.Y. Shugart, says the company has been in business since 1937.
With the desktop computer revolution just beginning, Seagate's sales took off: by 1984 it had sales of $344 million and was the largest maker of hard disk drives.
In early 1986, Conner began taking a prototype of Squires's disk drive to computer makers, seeking investors and customers.
Compaq also bought 90 percent of Conner's output for 1987, its first year of production, and by August 1987, Conner was off the ground with another $27 million in venture capital from other sources.
In April 1988 Conner went public, raising $40 million and earning Finis F. Conner $25 million.
At the end of 1988, with growth still explosive, William Almon, who had been with IBM for 29 years and had run its low-end disk drive manufacturing arm, was named president and chief operating officer, while Shroeder was named vice chairman.
Seagate, still the largest hard disk drive manufacturer, had been slow to introduce new products, but released 14 new drives in the fall of 1990.
Conner released a new type of hard disk drive in 1992, a 1.8-inch removable drive targeted at the emerging market for handheld computers.
Once, more than half of the hosiery industry in Fort Payne had ties to the Prewetts' businesses, according to a 2005 article in an Economic Development Partnership of Alabama publication.
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