Motorola Inc. still has its eye on returning to profitability this year, and is taking additional steps to make sure that happens. The latest: the company is cutting another 7,000 jobs. The 7,000 positions will be eliminated across the company's business segments and corporate headquarters. Earlier this month, the company reaffirmed its guidance for the second quarter, and it is sticking with t...
Copyright 2002 Knight Ridder/Tribune Business News Copyright 2002 Saint Paul Pioneer Press Saint Paul Pioneer Press…06/27/2002 From LexisNexis Qwest Communications International Inc. shares fell $2.40 — 57 percent — to close at $1.79 Wednesday as the company was hit with a staggering one-two punch.
Copyright 2002 King Communications Group Space & Missile…06/27/2002 From LexisNexis Freedomland ITN and Alenia Spazio signed an agreement June 20 to build a satellite service center that will allow Freedomland to offer interactive satellite services. Under the contract, Freedomland will invest in the construction of a satellite service center at its office in Milan.
Copyright 2002 Gale Group, Inc. ASAP Copyright 2002 Reed Business Information Limited Electronics Weekly…06/26/2002 From LexisNexis Mobile operator mmO2 has published trial prices for its 3G mobile phone service being run on the Isle of Man by subsidiary Manx Telecom. The charges are based on a monthly subscription which includes a data allowance.
As carriers switch from traditional circuit-switched platforms to packet-based networks, they are experiencing a deluge of new traffic, which poses significant challenges to carriers and equipment manufacturers seeking to deliver a superior Quality of Experience (QoE) to end users. Telchemy Inc. has teamed with Trinity Convergence to enhance the implementation of call quality monitoring and man...
Motorola Inc. Broadband Communications Sector has broken out the party hats. The broadband unit recently shipped its 2,000th digital headend system. Charter Communications Inc.'s Ely, Minn.-based cable system received the headend system last month. With this latest shipment, Motorola's digital networks pass more than 75 million television households.
Last-mile telecom service provider Always On Network targets underserved markets to deploy broadband, and has turned to SOMA Networks to bring high-speed Internet access to Klamath County, Oregon. Using SOMA's Amosphere broadband wireless system, Always On Network will deliver high-speed Internet access to the residents and businesses in the county beginning next month.
After weeks of speculation, beleaguered Adelphia Communications Corp. has finally sought shelter from the economic telecom storm under the protective shroud of a Chapter 11 filing. Adelphia confirmed late Tuesday that it and 200 of its subsidiaries had filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.
In the immortal words of Ricky Ricardo, "(WorldCom) you got a lot of 'splainin' to do!" WorldCom Inc. has admitted that it overstated nearly $4 billion in expenses, raising fears that it may be the latest telecom giant to file for bankruptcy. The company says it will restate its financial statements for 2001 and the first quarter 2002 after an internal audit revealed the company had reported $3.
Copyright 2002 / Los Angeles Times Los Angeles Times…06/25/2002 From LexisNexis From Bloomberg News WorldCom Inc. stock plunged to a 12-year low Monday after Salomon Smith Barney analyst Jack Grubman, once one of the company's biggest Wall Street advocates, recommended investors avoid shares of the second-largest U.
Copyright 2002 Knight Ridder/Tribune Business News Copyright 2002 Press-Telegram Press-Telegram…06/25/2002 From LexisNexis Verizon Communications on Monday withdrew a proposal to sell its cable television franchise to Adelphia Communications Corp., citing ongoing financial woes within Adelphia.
Optical networking company Tellium Inc. will trim its work force by 200 employees by the end of the month. The compnay blames lagging customer demand and the ongoing deterioration in the telecom sector for the move. Tellium expects to take a one-time restructuring charge of between $7 million and $10 million in the June quarter.
Video compression technology provider DivXNetworks Inc. is moving full speed ahead with plans to deploy its DivX suite of video compression technology. The latest: the company has inked a licensing deal with Wellspring Media Inc. As part of the deal, Wellspring will license the DivX Open Video System to rent downloads of eight full-length films to users of its Web site, www.
The deal it is a changin', the Time Warner Cable-Advance/Newhouse Communications deal that is. The companies have agreed to transfer 2.1 million TWC subscribers to A/N's control, and transfer A/N's Road Runner stake to TWC. The companies have been negotiating the restructuring deal for several months now, which stemmed from A/N's desire to resume operating some of the cable systems.
In a cash and stock deal, Globespan Virata has sold its MPEG video and audio compression and decompression product business to Conexant Systems Inc. The sale is part of the DSL equipment provider's divestiture strategy. For its part, Conexant will fork over $21 million in cash and 1.25 million shares of common stock.