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Aug 15, 2005
Technology
Cree's CFO Resigns: Carolina Newswire, 8/12
Cynthia B. Merrell, who has served as Cree Inc.'s Chief Financial Officer and Treasurer since 1998, has submitted her resignation to the company. The resignation will be effective when a successor CFO takes office but not later than mid-February 2006. Ms. Merrell has agreed to assist in the transition to a new CFO. "It was a difficult decision to leave Cree as I have truly enjoyed both professionally and personally almost nine years with the company. However, due to the changes in the public corporate environment in recent years and my desire to spend more time with my family, I have decided to pursue new challenges for the next part of my career," Ms. Merrell stated. "With the completion of the first assessment of our internal controls under section 404 of the Sarbanes-Oxley law of 2002 and the dismissal of the securities lawsuit last week, I believe that the timing of my resignation is appropriate as the company is well positioned for it's next phase of growth."
http://carolinanewswire.com/news/News.cgi?database=topstories%2edb&command=viewone&id=3228&op=t
Media
Hoover Moves to TBWA/C/D: Adweek, 8/12
Hoover said it has awarded creative chores on its ad account to Omnicom Group's TBWA\Chiat\Day. Sources valued the business awarded to TBWA\C\D at $25 million. Hoover spent $45 million advertising in 2004, according to Nielsen Monitor-Plus.
http://www.adweek.com/aw/national/article_display.jsp?vnu_content_id=1001014397
Telecommunications
Researchers Vet VOIP's Value: Light Reading, 8/12
While more folks than ever are turning to VOIP services, VOIP's sway over the industry and its threat to traditional phone companies is now facing increased skepticism. Insight Research Corp. says in a recent report that traditional phone companies will lose somewhere around $96 billion in revenues by 2010 thanks to the emergence of VOIP services. That's a huge number, but still relatively small compared to the total telecom service revenues of $1.8 trillion that phone companies are expected to pull in that yearVOIP is definitely having an impact on the telecom services world, but it won't be anything close to domination for several years to come. Some researchers even see the VOIP market slipping from where they originally expected it to be. In 2004 Frost & Sullivan said the North American residential VOIP market would be worth $5.4 billion by 2008. But the firm’s July report had scaled back expectations significantly; it now predicts that the market will be worth only $4.1 billion by 2010 (see F&S Predicts NA VOIP Growth).
http://www.lightreading.com/document.asp?doc_id=78922&WT.svl=news1_2
America Online Launches AOLMobile.com: TMC.net, 8/15
America Online, Inc., the world's leading interactive services company, today announced the launch of AOLMobile.com (www.aolmobile.com), a personalized mobile portal that makes it easy to learn about, buy and use today's hottest wireless communications and content services. Designed to meet the needs of AOL(R) members, AIM(R) users and mobile users alike, the site can be customized by mobile users to present the features and services available for their particular phone model and service provider combination. Delivered in part through a new alliance with InPhonic, Inc., a leading online seller of wireless services and devices, AOLMobile.com also offers an innovative and complete mobile storefront. Users can find, compare and buy the latest mobile phones and cellular service plans with the advanced features and accessories that complement their mobile lifestyles.
http://www.tmcnet.com/usubmit/2005/aug/1172959.htm
AOL Making Wireless Move: USA Today, 8/8
America Online announced Monday that it's accelerating its move into cell phone services through the acquisition of a software company, Wildseed, which will be part of a new unit called the AOL Wireless Group. "We believe that wireless is one of the biggest places for AOL to play in," says AOL Wireless General Manager Craig Eisler. The deal with privately held Wildseed "enables us to offer new products like instant messaging for phones, and great photo and music experiences for phones. "The companies did not disclose terms of the acquisition, which closed late Friday. Wildseed, based near Seattle, is best known for its phone-personalization software, which it sells to manufacturers, service providers and content companies. That could be important for Time Warner's (TWX) AOL as it competes with Yahoo (YHOO), Google (GOOG), Microsoft (MSFT) and other Internet companies eager to expand into phone services. AOL also hopes the deal, and the formation of a new division focusing on wireless, will help it to pull ahead of its competitors."We were late to the party with search and mail, although we have it now," Eisler says. "Now we want to change the game and take it to the next level." Like many Internet companies, AOL found that it's hard to duplicate an Internet experience on cell phones — in part because of signal interruptions. As a result, Eisler says, the company wants to pre-load functions into a phone so users can listen to music, look at pictures or play games without long waits for applications to be transmitted.
http://www.usatoday.com/tech/news/2005-08-08-aol-wildseed_x.htm?POE=click-refer
With its $35 billion merger with Reston-based Nextel Communications expected to close before day's end, Sprint on Friday said that it has completed its tender offer for the outstanding shares of Louisiana affiliate US Unwired, which once threatened to hold up the Nextel deal. Sprint agreed to buy US Unwired in July after the affiliate asked a federal judge to halt the merger, claiming that the move would violate its right to exclusively offer Sprint's services in parts of the South. US Unwired provides Sprint PCS services in nine states, serving more than 500,000 direct wireless subscribers in 48 markets. It employs about 600 people and had 2004 revenue of $408 million. Sprint acquired about 95% of US Unwired's shares through the tender offer. http://biz.yahoo.com/prnews/050812/cgf010.html?.v=20
In Mobile Phones, Older Users Say, More is Less: WSJ, 8/15
At a time when cellphones are letting users do more tricks, from video calling to downloading digital music, one of the latest models from Vodafone Group PLC has no camera, no browser and hardly any icons. Instead of being sleeker and cooler than ever, the phone is large and ordinary-looking.What it is, though, is easy to use, and if Vodafone is right, the market will love it. That's because of who its market is: people getting up in years. If the battery on the Vodafone Simply, as it's called, gets low, the phone doesn't signal this with a tiny icon somewhere. Instead, on its screen, the words "please charge" appear. If a message is waiting, a light flashes, like in old-fashioned answering machines. To help people who tend to lose their phones around the house and let the battery run down, this one comes with a stand that serves as a place to stow the thing, and charges it while it's there. Vodafone is offering the Simply in nine countries so far, not including the U.S., a market in which it participates through a 45% stake in Verizon Wireless. The U.S. cellphone market still is growing briskly, although its growth, too, is expected to slow before long. The countries where Vodafone Simply is available are the U.K., Germany, Austria, Switzerland, Sweden, Spain, Portugal, Greece and New Zealand.
http://online.wsj.com/article/0,,SB112405683280612725,00.html?mod=home%5Fpage%5Fone%5Fus
Sprint, Nextel Merger Is Done; Local SpinOff Underway: LTW, 8/15
Sprint and Nextel put the finishing touches on their $35 billion merger as expected on Friday.
Sprint also announced that it has already begun the process of spinning off its local phone division as a separate company. The local division has one of its largest operations in Wake Forest NC that covers the Carolinas.
“Sprint Nextel has begun the process of separating the operations of Sprint's local telecommunications business, including consumer, business and wholesale operations, and will seek regulatory approvals to spin off the local telecommunications business to Sprint Nextel shareholders in a tax-free transaction, which is expected to be completed in 2006,” Sprint Nextel said in a statement.
http://localtechwire.com/article.cfm?u=12052
US Ringtone Downloads Up Fourfold in Past Year: Potomac Tech, 8/13
Nearly one-quarter (23%) of American cell phone owners have downloaded ringtones to their handsets over the past year, up from just 5% during the previous year, according to a report from market research firm Ipsos-Insight. Over half of Americans ages 12-24 have now downloaded a ringtone. "What we're now witnessing in the mobile arena is similar to what has already occurred in many places outside the U.S., and represents yet another opportunity for industries looking to monetize U.S.-based digital music distribution," said Matt Kleinschmit, a vice president with Ipsos. The study additionally found that 6% of U.S. cell phone owners have downloaded a full-length song to their handsets, while 3% have downloaded a short video clip and 2% have downloaded a music video.
http://www.ipsos-na.com/news/pressrelease.cfm?id=2750
Posted at 10:42 am by LPossiel
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