Word: telecoms
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...INDICATORS Wrong Numbers Canadian telecom equipment maker Nortel Networks finally restated its 2001-03 results - revealing a 41% cut in profits for 2003. Twelve executives, not implicated in the inappropriate accounting, volunteered to repay $8.6 million in bonuses...
Richard Li, the entrepreneurial son of 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...
...everyone with high-speed connections. Besides, PCCW?which won't say if its TV service is profitable?did not have to spend heavily to upgrade its network for two-way TV. That's because NOW Broadband runs over an Internet and interactive TV infrastructure mostly built by Hong Kong Telecom in the 1990s. PCCW also benefited from outbidding I Cable for the exclusive rights to the popular ESPN and Star Sports channels. PCCW's Berriman acknowledges that the acquisition was "very significant...
...Most CEOS say, 'Follow me,'" says Suh Doo Chil. "I say, 'Let's go.'" As boss of South Korean telecom- equipment supplier Eastel Systems, Suh is confronting his country's rigid corporate culture. When he took over as CEO three years ago, the company had posted a $57 million loss, debt was out of control, and engineers were heading for the exits. Suh started paring debt and halved the work force, a gutsy move in layoff-averse Korea. The hard-driving Suh, who counts Jack Welch and Margaret Thatcher among his heroes, dismantled Eastel Systems' hierarchy, which stopped anybody from...
...BUSINESS TELECOM: Cell-phone stereo...