Word: telecoms
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...drop below 50%. Update One of Turkey's wealthiest families, the Uzans - profiled in time last week - was found guilty of perpetrating a "huge fraud" against Motorola and Nokia. A New York federal judge found the Uzans had "siphoned" hundreds of millions of the two telecom firms' money "into their own pockets." They have been ordered to pay the companies more than $4.2 billion. The Uzans say they will appeal. TIME Europe: Uzan's Troubles...
...rightward thinking activists who meet regularly (sometimes with White House staffers), wrote to at least one senator who was bearing down on MCI and contacted the General Services Administration, the agency that administers federal phone contracts, to plug for the company. Norquist, who blames labor unions and other telecom industry competitors for ginning up the attacks on MCI, says he believes the company should continue to benefit from government contracts as long as its performance is up to speed...
...protested GSA's decision for now. But the agency could take months to decide whether to formally bar MCI from government contracts; meanwhile the company can bid but can't be awarded any government work. The loss of its largest customer could, in the end, be fatal to the telecom giant, industry analysts warn...
...Hill had questioned why GSA had not yet suspended the company, which has received more than $1.2 billion in government contracts since it declared bankruptcy. An Aug. 25 hearing has been scheduled in bankruptcy court on MCI's plan to reorganize and emerge as a full competitor in the telecom market. But industry sources say the suspension could be the death knell for the company...
FastWeb has grown into the No. 2 broadband provider in Italy, behind giant Telecom Italia. Massimo Castelli, director of marketing for that firm's domestic wireline division, admits of e.Biscom, "In terms of pure technology and service, they clearly have a more innovative offering than we have." One innovation is FastWeb's selection of some 3,000 video titles, including 1,000 Hollywood films, routed directly to customers' TV sets. Viewers like the service, paying between $3.50 and $7 per film. The studios get 50% to 60% of that, but the remainder adds to FastWeb's impressive annual revenue...