Word: hutchisons
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...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 a rescue package. The two companies have bid $750 million to help recapitalize and restructure Global Crossing. If the plan is approved by the courts (it's likely to be controversial because the proposal calls for holdings of mom-and-pop shareholders to be wiped out), Hutchison and STT will wind...
...Hong Kong--and that's not much of an exaggeration. The ubiquitous entrepreneur started in the plastic-toy business in 1950 and propelled himself into real estate, shipping and telecommunications. His secret? Keep dealing. Even before China took over Hong Kong, Li, 73, was investing on the mainland. HUTCHISON WHAMPOA has pushed into the Internet, low-income housing and commercial projects across China. Not surprisingly, Li has the ear of President Jiang Zemin...
...customers and accounts for 60% of the domestic market. The firm has applications that consumers love - games, Hello Kitty screensavers - but also a business model that makes money from data fees, billing commissions and additional voice minutes. Now Tachikawa is moving beyond Japan, taking minority stakes in Britain's Hutchison 3G, the mobile unit of Dutch carrier KPN and AT&T Wireless in the U.S. He has also bought a controlling stake in AOL Japan, which he is recasting as DoCoMo...
...Conservative stalwarts Jesse Helms of North Carolina and Phil Gramm of Texas have decided to yield their Senate seats after 2002, and strategists fear a wave of retirement notices in the next few months. Possible departures include Senator Pete Domenici, a five-termer from New Mexico, and Kay Bailey Hutchison, the other Texas Senator and a new adoptive mom. Aides to Alaska's Frank Murkowski have let it be known their boss is weighing a run for Governor, meaning he could leave the Senate next year. And Die Hard 2 alumnus Fred Thompson of Tennessee will soon announce his plans...
...Richard is deputy chairman of Li Ka-shing's Hutchison Whampoa conglomerate, owns 5% of Tom.com and has a long history of cross dealings with his old man. Is he a son with burning ambitions of his own? Or one standing on his father's shoulders? Perhaps a little of both...