Word: telcos
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Dates: during 2000-2009
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...Hong Kong tycoon Li Ka-shing, had big plans in 2000 when, during the height of dotcom mania, he used the inflated stock of his Internet start-up to buy Hong Kong's dominant phone company, Hong Kong Telecom. Li's grand vision was to use the telco's network as a springboard to launch an interactive entertainment service called Network of the World (NOW), aimed at delivering TV-style content over the Internet to global subscribers. But NOW flopped when the Internet bubble popped, and a chastened Li was left with little more than a debt-ridden, old-school...
...hitting a six in the suites. Tellabs, the Naperville, Ill., telecom-gear maker (2003 sales: $980 million) that sells data systems and voice enhancers, recently named him CEO. The board is betting on a repeat. When Prabhu, 49, was boss of Alcatel USA, a division of the French telco, revenues increased fivefold, to about $5 billion, over his three-year tenure...
...Royal New Zealand Yacht Squadron. It's a good thing, then, that the hope of beating the Kiwis, who have held the Cup since 1995, enticed the fabulously rich to open their wallets. The competition includes teams funded by Oracle's Larry Ellison, Microsoft co-founder Paul Allen and telco investor Craig McCaw; biotech mogul Ernesto Bertarelli; shipping magnate Vincenzo Onorato; British tech millionaire Peter Harrison; and, of course, all the old and new money associated with the New York Yacht Club. After the first round robin in the famously capricious winds of Auckland's Hauraki Gulf...
...glasses, that smug deportment: for a while now Richard Li has been synonymous with all things new?media, economy, paradigms, whatever. Last year the boy in the cyberbubble won kudos for leveraging his essentially worthless assets?DigiScents? Network of the World? A phony Stanford degree??into one, very real telco when he paid $29 billion in stock and cash for Hong Kong Telecom. What nobody realized then was that this khaki-clad scion who embodied all the Web concepts people used to act like they believed in?does anyone remember Metcalf's Law??would become the poster child...
...Asia outside Japan. Analysts fell over one another to issue buy recommendations on CyberWorks' stock, which they predicted would soar into the stratosphere. Whoops! Put a hold on that order. Six months later, analysts say the new firm's strategy of linking broadband Internet services to an Old World telco is no longer so compelling--and Li is losing altitude fast...