Word: telecoms
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Executives at Lucent Technologies, the New Jersey telecom-equipment maker, couldn't help noticing this year that CEO Richard McGinn had morphed from an outgoing, hands-on boss who ate lunch in the cafeteria to a withdrawn figure bunkered in his office. Perhaps retreat was in order. After three otherwise successful years at the helm, McGinn had committed a series of screw-ups. Among them: missing out on optical-equipment investments that Lucent's competitors later cleaned up on and avoiding layoffs in spite of declining sales. Two weeks ago, he delivered really bad news: the current quarter's revenue...
...things change. When news of CyberWorks' plan to take over the telecom giant emerged on Feb. 15, the move was seen as inspired. The merger effectively allows CyberWorks to use HKT's assets, such as its broadband Internet service, cellular-phone system and potential third-generation cellular technology, as well as the right to offer programs of a former Richard Li property, Star TV network (a satellite broadcaster that runs mostly English-language programming across Asia) over the broadband network...
ALEX MANDL One of the first marquee execs to jump ship for a start-up, he resigns as AT&T president in 1996 to head unknown wireless telecom Teligent. At least he got the $20 million signing bonus up front. WAS WORTH: $188 million last year NOW WORTH: $1.93 million, with 3 million options underwater...
...there a trend in the works? Nearly everyone in the telecom sector is having a tough time of it these days. The cable/broadband revolution has been slow to flower, and the race to the high-speed Web between wireless, cable and DSL has been far from settled. As tech marches on, some of AT&T's businesses will thrive; others will be left behind. The strategy, apparently, is to hedge one's bets with investors - investors who these days are more selective than ever with their tech buys and fully willing to punish a behemoth that might just...
...Enron a leader in the booming telecommunications business. The plan isn't to go head to head with established fiber-optic carriers such as AT&T, Qwest and Williams Communications. Instead, Enron wants to use new switching technology and its expertise in trading pipeline access to transform a modest telecom network into a powerful arbiter of bandwidth. Enron's bet is simple: supply and demand will increase exponentially, turning bandwidth into a tradable commodity, just like gas and electricity. Along the way, why not partner with companies such as Blockbuster and use this new technology to offer content--like movies...