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Iridium is now a consortium whose major shareholders include Motorola (which kept a 20% stake), Lockheed Martin and Sprint, plus Germany's Veba AG and Russia's Krunichev State Research Production Space Center. The joint venture was supposed to go live on Sept. 23, but then software glitches led officials to disclose that they will delay until Nov. 1 what amounts to the final roll of the dice in its $5 billion gamble to revolutionize telecommunications--or become the best-publicized flop in history. The announcement nudged its stock price on the NASDAQ exchange down...
LONDON: What's in a name? If the name is Rolls-Royce, $66 million -- and that's cheap. Like two Dobermans at a single slab of steak, German automakers BMW and Volkswagen AG have completed the tearing apart of the revered luxury car line: Volkswagen gets Bentley, and BMW gets Rolls-Royce -- or at least the name Rolls-Royce. Under the deal (finalized after Volkswagen tried and failed to acquire the name itself), BMW will build its own factory by 2002 to produce the cars. Volkswagen will get to use the Rolls name for free until then, after which...
...While that would fly in the face of unanimous advice from the AG's four predecessors, Reno is more likely to listen to Secret Service director Lewis Merletti -- who has vowed to fight this all the way to the Supreme Court if necessary. Merletti, who has spent the last few months issuing dark warnings of a future presidential assassination if Starr gets his way, wants to create a new kind of executive privilege for his agents. Another privilege battle -- just what Starr needs right...
...industry has already undergone considerable consolidation. Along with its equity interest in Kia, Ford Motor Co. owns Jaguar PLC and a one-third stake in Mazda and is considering an alliance with Samsung Motors Inc. GM, still the world's largest automaker, owns Germany's Adam Opel AG, the U.K.'s Vauxhall Motor Cars Ltd., Holden's in Australia, 50% of Saab Automobile AB in Sweden and about a third of Isuzu. On top of that, GM operates a joint venture in Canada with Suzuki Motor Corp. and an assembly plant called NUMMI in California with Toyota...
...more excited because I love the acousticsof Sanders, and the Ag [Agassiz Theatre] is theblack hole of sound in the universe," Campbellsaid...