Word: cisco
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...largely beholden. RESIGNED. CUMHUR ERSUMER, 48, Turkish Energy Minister and the highest-ranking official to step down over a graft scandal that partially triggered the country's economic crisis; in Ankara. Ersumer's announcement pushed Turkey's stock market up more than 7%. ARRESTED. ROBERT S. GORDON,42, former Cisco Systems executive accused of embezzling $10 million from the networking equipment maker and one of its smaller partners; in San Jose, California. ARRESTED. BADARUDDIN ISMAIL, 56, Malaysian human- rights activist and the 10th person arrested this year under the country's draconian Internal Security Act; in Kuala Lumpur. DIED. DAVID...
...seniors signed up by Cisco last fall have a new appreciation of Internet time: they were recruited, hired and fired in the space of six months without ever doing a day's work. They even collected three months' severance plus the run of Cisco's outplacement services. Some jilted seniors were happy to bid adieu to this loser. "In the fall Cisco was healthy and growing," a student says. "Now it's slowing down, and I don't want to work for a company with problems...
...declines in offers from staggering New Economy companies such as Cisco Systems and Lucent Technologies have been offset by bids from Old Economy geezers such as General Motors and Johnson & Johnson, which have been avidly hunting for accountants, programmers and engineers...
...NEWS IS OUT Intel reported one of its worst quarters ever but said demand for computer chips had stabilized. Cisco reported an awful quarter, and the stock rallied. Meanwhile, IBM and General Dynamics posted strong earnings gains...
...statements. Despite last week's rally, the NASDAQ is still down more than 60% from its all-time high and off 14.4% this year. Slowing profits, lack of visibility beyond the next few months, and sympathy selling have scratched once Teflon-tough technology stocks like Cisco, Oracle and Intel. They're so cheap now, you can buy a dozen shares of each for less than the price of a laptop...