Word: crossinger
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Bandwidth, the capacity of a fiber-optic line to transmit data from one place to another, was considered to be a commodity for which demand was virtually limitless. But as investors in U.S.-based telecommunications company Global Crossing have learned, "endless demand" turned out to be another New Economy nostrum...
But there's at least one person who believes Global Crossing will rise again: Hong Kong Uber-dealmaker Li Ka-shing. Through a partnership between Hutchison Whampoa, Li's Hong Kong ports/telecoms/electric power conglomerate, and Singapore Technologies Telemedia (STT), owner of Singapore's third-largest phone company, Li has engineered...
The deal looks like a vintage Li maneuver?he is legendary for scooping up unfashionable assets at bargain prices and selling them later for a fat profit. Among other recent coups, the billionaire bought into American e-tailer Priceline.com following the crash of Internet stocks, and saw his stake triple...
Unfortunately, their timing was bad. During the giddy days of the Internet bubble, when the amount of data transmitted over the Web was doubling every month, Global Crossing's international network seemed like the right idea at the right time?investors certainly bought into the conceit, driving Global Crossing stock...
Mailroom favors run in the other direction as well, adds Peter Romeo—a Cantabrigian clad in a purple shirt and black jeans who also works as a crossing-guard—as he sorts newly-received packages.