Counfounding most of the French press, France Telecom chairman Marcel Roulet did not offer his resignation to his minister Francois Fillon when they met yesterday, but the plan to hold back on privatisation appears to remain in place. Shares in Marlborough, Massachusetts-based Sequoia Systems Inc jumped 27% – $1.50 to $7.00 – after the Wall […]
Counfounding most of the French press, France Telecom chairman Marcel Roulet did not offer his resignation to his minister Francois Fillon when they met yesterday, but the plan to hold back on privatisation appears to remain in place.
Shares in Marlborough, Massachusetts-based Sequoia Systems Inc jumped 27% – $1.50 to $7.00 – after the Wall Street Journal reported that William Velmer, president of the SA Advisory investment newsletter and financial publisher in Salt Lake City, saying the company is a big turnaround and looks like it’s ready to rock and roll, adding that stock price could double by the end of the newspaper’s stock-picking contest December 31.
Memory Corp Plc, already valued at ú100m in the London market before it has sold a single Single In-Line Memory Module with its variance-controlled memory chip and EPROM with a map of the faulty cells in the memory chips, and the company now expects to deliver its first product to customers three months later than planned, the Financial Times reports, because of the need to ensure compatibility with some tricky personal computers; the system works by having the EPROM direct the processor to the variance memory engine, which holds the correct state of all the faulty cells.
Singapore Telecommunications Ltd is reviewing its UK investments in its search for better returns, the company said, responding to an article in the Straits Times headlined Telecom said to be selling loss-making units in Britain, adding that it will concentrate on increasing Asian investments, and is therefore studying various options with regard to its UK investments.
Bochum-based Escom AG intends to ride the Commodore name to the number one spot in the German personal computer market where Vobis Microcomputer AG currently bests it: because of the big plant it had in Braunschweig, the Commodore name is second only to IBM as the best known computer name in Germany, and by the end of 1995, Escom expects to sell 50,000 Commodore machines.
EMC Corp is down to the minor markets now, and is to establish its first subsidiary in Africa with formation of EMC Computer Systems (South Africa) Ltd: it also bought the EMC operation of Datakor’s Blue Chip Technologies, the Johannesburg distributor of EMC products since 1992; the terms were not disclosed.
Commenting on its sterling figures which put $2 on its share price at $72.50 and put it on target for over $25,000m for the year, Motorola Inc says sales in its General Systems Sector, advanced 39% to $2,900m, orders rose 25% and operating profits were higher – and inventories of cellular phones in the US distribution channels returned to a normal range late in the second quarter; all it says on the Computer Group is that it added to its PowerStack line with systems based on the 100MHz PowerPC 603e and the 133MHz PowerPC 604; in the Semiconductor Products Sector, sales rose 22% to $2,100m, orders rose 36% and operating profits were higher; seven systems vendors introduced new computer systems based on the PowerPC architecture; development of the Iridium global communications system continued on schedule, as Motorola met all contractual milestones during the quarter.
Hayes Microcomputer Products Inc, Atlanta says its proposed reorganisation plan was approved by the bankruptcy judge, including a $45m debtor in possession financial facility with General Electric Co’s GE Capital Corp: the plan unusually pays all valid creditor claims in full with interest; the court also extended exclusivity until September 30 for Hayes to go forward with the plan, making it the only plan to will be reviewed by the court, and Hayes said it will use the combined assets from its proposed merger with Boca Research Inc to come out of from Chapter 11 this autumn.
Atlanta-based HBO & Co has acquired Pegasus Medical Ltd, a privately-held Israeli software firm with offices in Jerusalem and Boston: terms were not disclosed but Pegasus Medical has developed a computerised pen-based patient record system that
replaces paper charts.
Even successful companies suffer setbacks on the way, and IPC Corp Ltd of Singapore has decided to close 28 of its 54 retail outlets in Australia to concentrate on direct sales of personal computers.
Packard Bell Electronics Inc is not thinking about going public now, chief executive Beny Alagem told Dow Jones Investor Network, but it is not ruled out for the future.
Alameda, California-based Wind River Systems Inc is to buy back up to 200,000 of its shares over the next 12 months, buying in the market.
Who was it who said you can’t buck the market… a law aimed at saving the French language from being swamped by English has sown confusion in financial markets, Reuter reports, and it could deprive some French state institutions and local authorities of cheap foreign capital: lawyers say the Toubon law, named after Justice Minister Jacques Toubon, casts doubt on bond and other loan issues in the English-speaking international markets by state bodies ranging from France Telecom to local councils – the law requires state firms and local authorities to draw up contracts in French, which could cause legal problems in the international capital markets where the dominance of the English language goes largely unchallenged – This law was not written with international financial operations in mind; it’s a question of interpretation, said one lawyer, because the use of French in securities documents raises concerns over the enforceability of contracts, and another lawyer said use of French in documents could notably put off Japanese institutions, which are used to dealing in English, and this could limit potential sources of funds.
It seems to have been doing this for months, but Thomson-CSF SA announced again yesterday that it has paid $25m for a 24.9% stake in Spanish electronics firm Indra SA, reducing Spanish state holding company Teneo’s stake in Indra to 63%.
Robotic Vision Systems Inc is to pay fewer shares for Acuity Imaging Inc than announced in the original merger pact since Acuity sees a disappointing quarter ahead: it is now to issue only 0.766 of a share for each Acuity, where it had planned to pay 1.072 shares a share.
Bezeq Telecommunications Co Ltd, Jerusalem and Philips Electronics NV’s ravaged German arm have won a tender to set up a fibre optic communications network for Israel Railways, in a deal worth over $3m: the fibre optic network will be laid on the Tel Aviv to Haifa line.
Digital Equipment Corp, which is reported to be phasing out its 80486 personal computers in Europe in favour of Pentia, has signed a Windows95 operating system licensing agreement with Microsoft Corp: the agreement covers pre-loading.
So your son or daughter wants to be a disk jockey and enthusiastically gives time free to Hospital Radio to get experience? You might suggest another field where the prospects in two or three years’ time are much brighter – bulletin board moderator or forum leader, where the New York Times reckons that those that are skilled enough at managing a discussion that they can keep scores of people happily on line for hours can expect to be able to name their own salaries within a year or two – to start, all you need is a personal computer, a subscription to an on-line service and lots of bright ideas on a subject area of broad interest; the forum leaders are eventually hired by the major on-line services as independent contractors, and sign nondisclosure agreements, but they are typically paid about 10% of the fees collected by the on-line service for time spent by members in their forum – a handful of the most popular fora are multimillion-dollar businesses already.
Poland will announce a tender for two cellular telephone operators in September and grant licences by the end of the year, a telecommunication ministry official annouced: industry sources tell Reuters that AT&T Corp, Alcatel NV and Siemens AG were among potential bidders.
Palmer Wireless Inc, Myers, Florida has signe
d a preliminary agreement with the GTE Mobile Communications Inc arm of GTE Corp to buy Georgia Metronet Inc and Augusta Metronet Inc for $160m, both part of the Cellular One brand name, and covering 720,000 potential subscribers: GTE is divesting the Savannah and Augusta markets because it has been awarded the Atlanta market in the recent Federal Communications Commission Personal Communications Services licence auction on condition that it shed its cellular interests in overlapping properties.
Storage Technology Corp says it does not believe any of its products infringe on the patent mentioned in a lawsuit filed against the company by Odetics Inc, which has sued the company and three of its customers alleging that various of Storage Technology’s automated tape library systems violate a patent: StorageTek says the lawsuit appears to challenge the way its tape library systems pass tape cartridges from one library to another via the company’s Pass-Thru Port, but adds that the Odetics patent does not appear to cover the Pass-Thru Port.
Shane Robison, vice-president of the Personal Interactive Electronics Division of Apple Computer Inc, which looks after the handheld Newton resigned a few days ago to join Cadence Design Systems Inc, where he is to be senior vice-president for worldwide research and development at the San Jose-based Cadence.