Word: investors
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Dates: during 2000-2009
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...tapping into higher bandwidth, 3G mobiles were supposed to offer everything from high-speed Internet access to streaming video, allowing telecoms to keep revenues flowing even after the market for plain old phone calls became saturated. But the technology has been slow to develop, and operators have lost investor support for their once-lavish spending. It's a measure of how few people believe in the 3G dream anymore that beaten-down telecom shares rose sharply the day Telefónica finally said "No más." The future just isn't what it used to be. Investors and consumers...
...economy's reviving fundamentals. The next he is doing what an adviser calls "his Charles Schwab imitation"-discussing price-earnings ratios and suggesting that bonds might be a good buy. Even his speech to Wall Street on corporate misconduct, which was promoted as proof that he shared investor outrage, was unconvincing to some. "You can tell when he really cares about something, when he's into it," says an adviser to the President's father. "And he didn't look into...
...revenues, as Halliburton reported in 1998. But scandals over what counts as sales took Xerox down a peg over the last year and have caught up with drug companies Merck and Bristol-Meyers Squibb. The Judicial Watch lawsuit alleges that Halliburton used the revenue-enhancement gimmick to ward off investor scrutiny as the company's financials deteriorated when the oil industry retrenched. Revenues fell anyway, to $12 billion by 2000, Cheney's last year in command...
...knowing that one of its former subsidiaries, Harbison-Walker, was the target of manifold legal claims from employees who worked making refractory bricks. Halliburton officials believed that Dresser was indemnified. But when Harbison filed for Chapter 11, tort lawyers came after Halliburton. Cedric Burgher, Halliburton's vice president for investor relations, points out that, even with the asbestos claims, an Austrian company paid nearly $600 million for Harbison-Walker in 1999. Says Burgher: "Nobody foresaw this." Lawyers for asbestos victims say Cheney and Halliburton should have known better. "Everyone knew these were multimillion-dollar cases," said Glen Morgan, a leading...
...pity is that while manipulations might have been a virtual necessity to succeed in business in the corrupt and stultified economy of the 1970s and 1980s, Ambani's tactics continued to raise concerns after 1991 when liberalizing reforms began to kick in. Reliance nearly suffered a disastrous collapse in investor confidence in 1995, when the Bombay Stock Exchange raised questions over share duplications and other accounting anomalies that appeared to disadvantage minority shareholders. The company subsequently pleaded guilty to technical breaches and clerical errors but no intent to defraud was found. Confidence was ultimately restored and the share price rebounded...