Word: telecoms
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...roaring 1990s, only to see $7.7 trillion of paper wealth incinerated. If the scandal and collapse at Enron had been isolated, the nation's deflated sense of opportunity might have been repaired by now. Instead, the lid has been lifted on bogus revenue-generating schemes throughout the energy and telecom industries; earnings deception on an even broader scale; and the frightening failure of accountants, stock analysts, board directors and regulators to protect the nation's retirement assets. "These people have all lost credibility and should be prosecuted," says Parry. "I've lost faith in the whole darn market...
...success for 33 years; in Wiltshire, South England. Known for penny-pinching and attention to detail, Lord Weinstock was ousted from gec in 1996 and succeeded by Lord Simpson, who renamed the company Marconi plc and changed its focus to it and communications. A casualty of the dotcom and telecom crash, Marconi plc's value is now around 115 million, which is around 140 million less than what it was worth when Lord Weinstock took the reins...
...first step to recovery is to admit you have a problem, maybe there's hope yet for Europe's telecom industry. Last week the Spanish phone company Telefónica and its Finnish counterpart Sonera suspended their Group 3G joint venture, each writing off more than €4 billion on their investment in new "third-generation" mobile networks for Germany and elsewhere. Like nearly all the big European operators, they paid a lot for 3G because they expected a lot: tapping into higher bandwidth, 3G mobiles were supposed to offer everything from high-speed Internet access to streaming video, allowing...
...still foresee a cathartic selling spree that will cause the last bulls to buckle. For anyone overloaded in stocks, it's not too late to sell. But don't overdo it. Even Warren Buffett, a technophobe but also a bargain hunter, just found value in at least one battered telecom: Level 3 Communications. Perhaps the biggest risk now, warns Scott Kahan, president of Financial Asset Management in New York City, is that "by hiding cash in the mattress, you miss the recovery. Start now, and plan with what you have...
...index have declined 24%. That bonfire of capital has been fueled only in part by the revelations of corporate sleaze on the other side of the Atlantic. "Even if Europe hasn't had a scandal like Enron or WorldCom," says Sorbonne economist Christian de Boissieu, "the situation confronting our telecom operators, who are all deep in debt, means that we're facing similar problems." To the well-known troubles of France Telecom and Deutsche Telekom, add the pains at tech giant Alcatel. Or the fiasco at media and utilities conglomerate Vivendi, which soon after booting Jean-Marie Messier was seen...