Word: merger
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...hard to remember, standing in Enron's long shadow, that a company in a growth crisis can be as fascinating as one that's just plain in crisis. But Hewlett-Packard is doing its best to remind us. The personalities driving HP's long-running and very public merger debate are larger than life, and the whole of Silicon Valley is riveted by the story. Which, if you haven't been paying attention, goes like this: CEO Carly Fiorina wants a $25 billion marriage with Compaq--the largest tech merger ever--to avoid being squeezed between Dell (the personal-computer...
...Fiorina gave thousands of engineers the pink slip soon after taking the helm at HP. Then, believing that the best way to fix an ailing, giant company is to merge it with another ailing, giant company and hope for “synergy,” she announced a merger with Compaq, a move that is generating boardroom chaos even now, eight months after the announcement. Whatever happens, HP and Compaq are two companies whose core products—printers for HP and services and consulting for Compaq—are under attack or not growing. Merging...
Some telecom companies are getting a second look, partly because more than a few use Arthur Andersen, Enron's auditor, but also because many achieved their once spectacular growth partly by immediately recognizing revenue from long-term contracts, analysts say. Qwest has received the most attention because its merger with US West opened the door to other accounting issues. Qwest has denied that it did anything wrong. "Think about a bottle of wine," former SEC chairman Arthur Levitt said in a speech two years ago. "You wouldn't pop the cork on that wine before it was ready. But some...
...selling too few CDs to an increasingly fragmented public. U.S. sales fell 3%, the first drop in a decade. Add huge losses from pirating and downloading free music on the Internet and it?s a drumbeat of bad news. EMI tried to solve its problems with two recent merger attempts, but Europe?s regulators rejected bids to hook up with AOL Time Warner, this magazine?s parent, and Bertelsmann...
...finally. Hundreds of companies like Nissan and Sega have taken Western-style restructuring to heart. The government is letting more companies fall under foreign control, including top financial institutions like Shinsei Bank and consumer-electronics maker Denon. U.S. firms have surpassed mighty Nomura Securities in domestic stock underwriting and merger advice. Corporate bankruptcies are more frequent, as are takeovers--sorely needed to clear away deadwood and reinvigorate competition...