Word: telecoms
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...currently leads Goldman’s global telecom, media and technology group...
...telecom industry developed a hunt or be hunted philosophy,” Mead says, referring to the pursuit of companies to acquire and control worldwide networks. “And there is a lot of creativity involved in helping companies figure out where they want to take their businesses first...
...crime, securities lawyers say, is that while the problems were well documented, regulators did nothing until investors had lost billions of dollars. Only since Spitzer's investigation turned up blunt double-dealing by analysts has the SEC intensified its efforts, currently looking at other firms too, like Salomon, where telecom analyst Jack Grubman earned more than $10 million a year reeling in underwriting clients. That princely pay had nothing to do with his stock advice. Grubman rated the disastrous stock WorldCom a strong buy until mid-March, although it was down 88% from its June 1999 peak. Salomon--which...
...bonds can be an attractive option for picking up some income. The worst news on bankruptcies and defaults is already factored into junk-bond yields of 11% or more on many funds, which are the best way to invest here. But stay away from those laden with still troubled telecom bonds. Two quality junk-bond funds are Northeast Investors Trust and Pimco High Yield...
Unlike many of its U.S. rivals, E.ON had its balance sheet in order at the end of 2001. After selling off underperforming telecom assets, it lowered its debt-equity ratio from 21% to 2%. (Compare that with 79% for Calpine, the power-generating firm based in San Jose, Calif.) Hartmann's advance team is already on the ground in New York City. Its members arrived to handle the purchase of LG&E, which E.ON took over through the acquisition of LG&E's British parent, PowerGen. Shareholders approved the deal last month, and the company is waiting only...