Word: crossinger
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Li's interest in the company is partly defensive. Hutchison Whampoa has already sunk $400 million in Global Crossing through a convertible-bond holding, which Li could lose in the bankruptcy. Hutchison Whampoa assumed the bond when it took a stake in Asia Global Crossing, a regional subsidiary of Global...
What's unclear is whether Li and STT plan to sell relatively quickly or hold for the long term. Li expands his empire when he sees opportunity. His Internet vehicle, Tom.com, has been gobbling up media assets, including advertising companies, newspapers and magazines, in China and Taiwan. Over the past...
Hutchison Whampoa and STT officials declined to comment on their strategy. Analysts say it's unlikely Global Crossing is a long-term play. "Hutchison has been getting out of fixed line," says Eddie Lau of ABN AMRO. "This would be a big departure from their strategy of focusing on 3G...
That's assuming the deal goes through. In the wake of the Enron debacle, questions are being raised about Global Crossing's aggressive accounting practices. And even if a bankruptcy judge approves the bailout, it could take another dotcom boom for the investment to pan out. Li, however, doesn't...
The tunnel is planned for the northeast corner of campus to connect two buildings on opposite sides of Cambridge Street that have already been approved by the City Council. The tunnel might even decrease traffic on city streets. The passageway will reduce congestion in the area by essentially eliminating the...