Word: vivendi
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...attracts attention. "I think people find it amusing that a woman is president," she says. In her case they also find it daunting. Late last year the conglomerate was on the verge of insolvency; today, after Lundberg's aggressive restructuring (and a last-minute investment by the French conglomerate Vivendi), cash-flow problems are history and investor confidence is back: the stock price is up 100% since the beginning of the year. Now the former Wall Street banker wants to make Elektrim Poland's foremost producer of interactive Internet content by year's end. "She's ambitious and aggressive...
...over a controlling interest in wireless company PTC. Lundberg has apparently prevailed, but a lawsuit launched by Deutsche Telekom in Polish courts blocked further investments and forced her to take out a loan that increased PTC's debt load 55%. It took a last-minute $1.2 billion sale to Vivendi of a 49% share in a subsidiary that controls PTC to stave off disaster. "It wasn't an experience that I would like to go through again," she recalls. Even so, Lundberg is embarking on a new growth phase, investing $200 million over the next two years in Internet companies...
...surely cool, but last week's deal was also very much about money. The final price for the deal was nearly double what Vodafone had initially offered--a number big enough to seduce even the most recalcitrant Mannesmann shareholders. That, combined with a recent Internet deal between Vodafone and Vivendi, a French conglomerate, made Vodafone into a pan-European power that Mannesmann just couldn't resist...
...power of the Net in the past year, Softbank's stock, which is traded on the Tokyo exchange, has soared. The company's market capitalization is a stunning $79 billion, which puts it ahead of Sony. Softbank has also landed in Europe, establishing joint ventures with Vivendi in France and News Corp. in Britain. Rupert Murdoch is one of Son's growing legion of high-flying fans...
...course, we hope that recent events do not represent the beginnings of an internecine war within factions of the gay community. Hopefully, the BGLTSA and this new "straight-gay alliance" can work together cooperatively, or at least arrive at some modus vivendi. In the meantime, we welcome this new addition to the family of student groups and look forward to its work on campus. And, perhaps more urgently, we look forward to some announcement of its name...