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Sep 21, 2005
Durham
Business Buzz: Fuji Sushi, Asian Cuisine Scale Brightleaf Scene: 9/21
Sushi eruption: Another flavor is coming to Brightleaf Square on Thursday when Mt. Fuji brings its sushi and Asian cuisine to the historic center. The new restaurant, located at the rear of the center's courtyard, takes up almost 4,000 square feet and offers both a full-service bar and a sushi bar. Mt. Fuji seats about 120 diners with patio seating to follow soon. The menu includes Chinese, Japanese, Thai and Vietnamese dishes with some possible picks being Pad Thai ($12.95 dinner/$8.95 lunch) and Mongolian beef (dinner only, $11.95).
http://www.herald-sun.com/business/21-648708.html
Banking
BoFA to Pay Millions To Retain MBNA Executives After Merger: Herald Sun, 9/20
Bank of America Corp. will pay several top MBNA Corp. executives up to $117 million to stay with the company for two years after the bank buys the credit card company, according to a securities filing. Topping the list is MBNA chief executive Bruce Hammonds, who will receive $23 million. He agreed in June to sell MBNA to Bank of America for $35 billion and will become CEO of the combined company's credit card unit after the merger.
http://www.herald-sun.com/business/21-648564.html
Technology
Misys Healthcare Systems Named "Best Place to Work": Triangle Bus Journals: 9/21
Thanks to its employees, Misys Healthcare Systems was honored last week by the Triangle Business Journal as one of the best companies to work for in the Research Triangle. Misys Healthcare Systems received high marks for its positive work environment, exceptional benefits package, strong executive leadership and effective manager relationships.
"It is a great honor for Misys Healthcare Systems to receive this Triangle Business Journal award, considering the high caliber of companies in the Research Triangle," said Marsha Morgan, Senior Vice President, Human Resources, Misys Healthcare Systems. "Our employees are truly responsible for making this company a great place to work. Their hard work and contributions enhance Misys' business value and drive our growth as we develop and bring to market new and innovative healthcare solutions."
The annual Best Places to Work program identifies the Research Triangle's best companies to work for based on confidential employee surveys. Misys Healthcare Systems was one of 125 companies to enter, and made the list of top large firms based on the strength of its employee evaluations.
With more than 800 employees in its Raleigh headquarters, Misys Healthcare Systems ranks among one of the largest area companies. The company has fostered a corporate culture that promotes caring and teamwork as the foundation for creating success together. This includes a focus on talent, strong teams, individual ownership, helping customers succeed with their customers and executing quality ideas into practice.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20050921005533&newsLang=en
Telecommunications
BellSouth's CellCom Sale Goes Through: Triangle Business Journal, 9/24
BellSouth Corp. has completed the sale of its 35 percent equity ownership in Cellcom for $625 million.
Atlanta-based BellSouth (NYSE: BLS), which employs 750 people in the Triangle, will record an after-tax gain of $230 million.
BellSouth sold the interest to a subsidiary of Discount Investment Corp., which previously held a 25 percent interest in Cellcom, a cellular communications operator in Israel. http://triangle.bizjournals.com/triangle/stories/2005/09/19/daily17.html?jst=b_ln_hl
TMobile USA Hits 20M Mark: Wireless Week, 9/21
T-Mobile USA is touting a milestone: 20 million customers. The fourth-largest U.S. carrier added 10 million customers over the last 2.5 years. The carrier believes its growth can be attributed to its Get It More offering. "Customer-centric service, value leadership and services innovation is the foundation for our customer growth," T-Mobile USA President and CEO Robert Dotson said in a prepared statement.
http://www.wirelessweek.com/article/CA6258856.html
Verizon To Announce Launch of TV Service: Boston, 9/21
Verizon Communications Inc. is set to announce that its new television service will be launched in Texas as soon as next week, opening a fresh era of direct competition between the cable TV and telephone industries, The launch schedule, pricing and channel selection for the FiOS TV service are expected to be detailed on Thursday, according to a person at Verizon who asked not to be identified to avoid pre-empting the company's official announcement.
http://www.boston.com/business/articles/2005/09/21/verizon_to_announce_launch_of_tv_service/
Posted at 04:41 pm by LPossiel
Permalink
Sep 20, 2005
Banking
FNB of Asheboro Might Buy Integrity: News & Observer, 9/20
FNB of Asheboro, the holding company for First National Bank, plans to acquire Hickory-based Integrity Financial in a stock and cash deal worth $123.9 million. FNB said it would pay the cash and stock equivalent of about $23.65 per share of Integrity, an 18 percent premium to the company's Friday closing price of $19.99. Integrity is the parent company for Catawba Valley Bank and First Gaston Bank. The deal will give FNB 41 branches in central and western North Carolina.
http://www.newsobserver.com/business/story/2799256p-9241505c.html
Doors to Cross-Border Bank Deals to Swing Shut: WSJ, 9/19
Some bankers think a victory for ABN Amro in Italy will open the door to more cross-border banking deals. After all, the Italian authorities twisted and turned to prevent the Dutch bank from buying Antonveneta. And if Italy can be forced to open its doors, other European countries will have to follow suit, right? Not necessarily. After all, this isn't the first time a bank has forced reluctant politicians to open their market. In 1999, Spain's Banco Santander Central Hispano forced the Portuguese to let it buy part of the Champalimaud financial group against Lisbon's wishes. After that, everything went quiet. True, Antonveneta is a much bigger watershed. But most bank bosses will think hard before trying to snap up a foreign rival. Whatever the regulator's stance, it remains hard to pull off real cross-border mergers, where two large banks combine without either side paying a premium. So-called soft issues get in the way. Bank bosses fear the loss of prestige if power ebbs away from their home base. And concocting fudge to preserve power in both sets of headquarters is inefficient -- financially and in management terms.
http://online.wsj.com/article/1,,SB112708132654144303,00.html?mod=COMPANY
Technology
Bandwidth Lands $4.7M in funding: Triangle Biz Journal, 9/20
Bandwidth.com on Tuesday announced that it has closed on $4.75 million in funding from private investors. The Cary-based company said it would use the proceeds to expand its voice-over-Internet-protocol offering. Bandwidth.com said it also would grows its customer service, operations and sales departments. Bandwidth.com acts as a one-stop shop for companies looking to buy telecom services such as Internet or VoIP.
http://triangle.bizjournals.com/triangle/stories/2005/09/19/daily10.html?jst=b_ln_hl
Telecommunications
IBM & Lenovo Team To Provide High Speed Wireless Notebook Techn: TMC.net, 9/19
Verizon Wireless and Lenovo today announced plans to integrate wireless technology using Verizon Wireless' Evolution-Data Optimized (EV-DO) network in upcoming versions of ThinkPad notebooks, beginning with the new ThinkPad Z60m available Oct. 11. EV-DO-based high-speed wireless wide-area network (WWAN) transmits data at average speeds between 400-700 kbps.
Posted at 12:35 pm by LPossiel
Permalink
Sep 19, 2005
Banking
FNB Corp to Acquire Integrity Financial: Carolina Newswire, 9/19
Signing a definitive agreement for the merger of Integrity into FNB to create a new bank holding company to be known as FNB United Corp. (FNB United). The agreement provides that FNB will issue a combination of common stock and cash for the outstanding shares of Integrity common stock. Integrity shareholders will receive 0.8743 shares of FNB common stock and $5.20 in cash for each share of Integrity common stock. Based on a value per share of $23.65, the transaction price represents 188% of Integrity's book value as of June 30, 2005 and the total transaction value is approximately $123.9 million.
The merger of Integrity with FNB to form FNB United creates a $1.8 billion bank holding company with 41 community offices in 17 counties extending from the Central and Southern Piedmont and Sandhills to the Foothills and Mountains of Western North Carolina, providing quality banking and wealth management services in vibrant, growing markets. In May of 2005, FNB announced its agreement to acquire United Financial Inc., with offices in Burlington, Graham, and Hillsborough, flanking the Research Triangle area.
http://carolinanewswire.com/news/News.cgi?database=topstories%2edb&command=viewone&id=3361&op=t
Telecommunications
Sprint Launches Streaming Music: MSN, Money: 9/19
Sprint Nextel Corp. is becoming the latest cell phone carrier to let its customers listen to music on the devices.
The nation's No. 3 wireless provider said Monday that it and Seattle-based digital media provider RealNetworks Inc. are launching a streaming music service for Sprint PCS customers called Rhapsody Radio.
The service provides streaming radio stations, a freestyle rap service called "Beats N Breaks," music news, videos and podcasts -- recorded audio files that are downloaded from the Internet -- for $6.95 per month.
This is the second partnership between the companies. Sprint, with corporate headquarters in Reston, Va., and operational headquarters in Overland Park, already uses RealNetworks to provide streaming video content for its Real-rTV service.
Sprint & Samsung Explore Wireless Broadband:
Sprint and Samsung Telecommunications America have agreed to engage in joint wireless broadband technology efforts to test the IEEE 802.16e standard and drive the development of advanced wireless broadband services.
The agreement involves testing of prototype terminals and supporting core network equipment to help substantiate next-generation wireless network infrastructure requirements for future wireless interactive multimedia services. The collaboration will involve lab trials at company facilities and field trials with customers, as well as interoperability testing with Sprint ecosystem partners in order to verify the specifications of 802.16e technology.
http://www.digitalmediaasia.com/default.asp?ArticleID=10273
Technology
Checking Time And Then Some: LTW,
Fossil’s Wrist PDA isn’t the communication device people remember from the days of Dick Tracy. But what it lacks in radio power, the wearable personal data assistant is being beefed up in terms of tools and applications it supports.
And Motricity is part of the content/application equation.
Motricity will provide software titles and content for the Fossil Wrist PDA, which is touted as the first Palm software-powered personal data assistant (PDA) watch. The Wrist PDA was introduced in January.
http://localtechwire.com/article.cfm?u=12322
Events
Your Company's Identity: Building A Better Brand 10/8 Brier Creek Country Club
Marketing strategist will be the featured workshop speaker at the TiE/Carolinas October Business Workshop Series. Entitled Your Company's Identity - Building a Brand that Lasts, the workshop takes place on Saturday October 8 from 9am – 12pm at the Brier Creek Country Club in Raleigh. Guest speaker Lea-Ann W. Berst, Principal Consultant of Sleddogg Marketing, will lead this 3-hour workshop targeted to Entrepreneurs who want to grow their brand, and as a result - their market.
Posted at 05:18 pm by LPossiel
Permalink
Sep 16, 2005
Telecommunications
Mobile Payment Has Growing Pains: Herald Sun, 9/15
The logic is solid behind MobileLime, a new service designed to let you leave your wallet at home -- or at least some of the cards in it -- and instead use your cell phone to buy things. Too bad the service, in my tests around town, didn't seem quite ready for the mobile masses. As a concept, buying stuff with your cell phone -- more on how you do that in a second -- seems like a great idea. For one, who leaves home without their cell these days? And with identity theft a growing concern, who wants to hand their credit card over to a stranger? The concept already has traction in Japan, where NTT DoCoMo says its mobile wallet service has 3 million users. Compared to Americans, Asian consumers are far more accustomed to using advanced phone services.
http://www.herald-sun.com/technology/33-646958.html
Nokia Wades Into Crowded Blackberry Market: Herald Sun, 9/15
Nokia Corp. is joining a suddenly crowded field of BlackBerry rivals, becoming the first major cell phone maker to weigh into the mobile e-mail market with its own brand and service. The Finnish company said the new application, Nokia Business Center, will join rather than replace the existing lineup of mobile e-mail and productivity options available on Nokia devices. Those include BlackBerry from Research in Motion Ltd., GoodLink from Good Technology Inc., and applications from Seven Networks Inc. and Visto Corp. Much like those players, Nokia plans to offer the new service through wireless carriers, as well as sell it directly to businesses, beginning in the fourth quarter.
http://www.herald-sun.com/technology/33-646604.html
Movida Arrives in FL: Wireless Week, 9/15
Making good on a promise made earlier this year, MVNO Movida Communications has rolled out its wireless service in Florida. Additional state launches are on tap. As with in other market rollouts, the service will be sold at Wal-Mart Stores, as well as other designated retail outlets in Florida.
In February, Movida revealed an MVNO agreement with Sprint that would allow the company to launch wireless services targeted at U.S. Hispanic consumers. In April, the service made its debut in Phoenix and San Diego. Subsequent launches followed in Los Angeles, Dallas, Houston, San Antonio, El Paso and other select Texas cities located in the Rio Grande Valley.
http://www.wirelessweek.com/article/CA6257342.html
Cingular Wireless Zeroes in on Youth Sector: Wireless Week, 9/15
Cingular Wireless is ramping up its effort to connect with today's youth, forging a deal with Musicland Group to bring its GoPhone to its retail outlets, as well as develop a new retailing concept. Musicland's Sam Goody and Media Play outlets will sell Cingular "Pay As You Go" GoPhone handsets, service and accessories. GoPhone products will be available in these stories beginning next month. Cingular Wireless is ramping up its effort to connect with today's youth, forging a deal with Musicland Group to bring its GoPhone to its retail outlets, as well as develop a new retailing concept. Musicland's Sam Goody and Media Play outlets will sell Cingular "Pay As You Go" GoPhone handsets, service and accessories. GoPhone products will be available in these stories beginning next month.
http://www.wirelessweek.com/article/CA6257341.html
AOL & MSN May Merge: Red Herring, 9/15
Portal players have taken off the gloves in the wake of eBay’s announced purchase of Skype. One report on Thursday had Time Warner and Microsoft in “advanced discussions” on a merger of AOL and MSN. Another has AOL unveiling the VoIP product at next week’s Voice On the Net (VON) Coalition conference in Boston.
According to the web publication Light Reading, AOL, which was one of the first web portal companies to dabble in VoIP, is getting set to launch a full-service VoIP product that will not require AOL membership or AOL’s software client. It will be a full-blown VoIP service, much like Vonage’s, that will be available to consumers across the United States.
Also, the New York Post cites two unnamed sources that claimed Microsoft is proposing a deal in which it would pay Time Warner for a stake in AOL, after which the two companies will create a joint venture that will merge the portal efforts of AOL and MSN.
http://www.redherring.com/Article.aspx?a=13584&hed=AOL+and+MSN+May+Merge
Sprint Nextel Launches CapTel (SM) for Hard of Hearing Community: TMC Net, 9/15
Sprint Nextel (NYSE:S) now offers CapTel(SM) Relay Service (captioned telephone) in New Hampshire. CapTel is an assistive technology aimed at easing communications for the more than 24 million Americans who are hard of hearing, have experienced hearing loss later in life or are deaf individuals with good vocalization skills. http://www.tmcnet.com/usubmit/2005/Sep/1182952.htm
Posted at 10:07 am by LPossiel
Permalink
Sep 15, 2005
Banking
BPI Agrees to Sell Antonveneta Stake to ABN Amro: WSJ, 9/15
ABN Amro Holding NV's agreement to buy a 30% stake in Banca Antonveneta SpA from scandal-plagued Banca Popolare Italiana Scarl after a bitter battle clears the way for the first-ever takeover of an Italian bank by a foreign lender, a prospect that seemed unlikely just several weeks ago.The sale, agreed late Wednesday, still faces several legal and regulatory hurdles. The deal would give control of Antonveneta to ABN, just two months after ABN's own cash offer for the bank failed. BPI and its allies, meanwhile, had gained control of a majority of Antonveneta shares.But an ongoing criminal investigation involving BPI dashed its takeover plans, and also raised serious questions about the role played by Italy's chief banking regulator, Bank of Italy Gov. Antonio Fazio. Wire taps and other documentation amassed by Italian prosecutors indicate that Mr. Fazio had a close relationship with BPI Chief Executive Gianpiero Fiorani and that the central banker went out of his way to ensure that BPI's bid won regulatory approval.
http://online.wsj.com/article/0,,SB112676150513141584,00.html?mod=home_whats_news_us
Technology
Cree Wins $15M Department of Defense Deal: Triangle Business Journal, 9/15
The U.S. Department of Defense has awarded a $15 million contract to Cree Inc. to develop advanced silicon carbide microwave chips that will be used in next-generation military radar systems. Durham-based Cree (NASDAQ: CREE) is contributing another $4.7 million to the programs for total project funding of $19.7 million. The military contract is through the Department of Defense's Title III Program, which is administered by the Air Force Research Laboratory. Under the five-year contract, Cree will focus on advancing silicon carbide microwave monolithic integrated circuit processing techniques to increase the size of the chips to four inches and reduce the cost per chip.
http://triangle.bizjournals.com/triangle/stories/2005/09/12/daily25.html?jst=b_ln_hl
Insurance
Blackstone Agrees to Buy IUCI: WSJ, 9/15
Blackstone Group reached an agreement to acquire UICI, a nontraditional health-insurance company, in a deal that will involve about $1.2 billion in equity, one of the largest equity investments the firm has made. Management of the little-known publicly traded insurer will contribute about $125 million to the buyout, the company said Thursday. The board has approved the deal, it said.UICI, based in North Richland Hills, Texas, has a market capitalization of $1.46 billion on the New York Stock Exchange and $1.8 billion in annual operating revenue. UICI has attractive financial metrics but has never gained much traction with stock-market investors, analysts say.
http://online.wsj.com/article/0,,SB112674729220241360,00.html?mod=home_whats_news_us
Telecommunications
Sprint Re-Ups W/ Syniverse: Wireless Week, 9/14
Sprint Nextel is sticking with what it knows; the company has renewed its services contract with Syniverse Technology for an undisclosed amount of time.The renewed contracts call for Syniverse to continue to provide back-office and network-related capabilities for wireless voice roaming services. Specifically, Syniverse will provide clearing and settlement of voice roaming records, international interstandard roaming services, call processing, SS7 network transport and other support services.
http://www.wirelessweek.com/article/CA6256935.html
TMobile Taps Siemens for HSDPA: Wireless Week, 9/14
T-Mobile International plans to work with Siemens Communications to upgrade its networks in Germany and Austria with high-speed downlink packet access (HSDPA) capabilities. The deal involves the upgrade of T-Mobile's W-CDMA networks in these countries with a planned rollout of the HSDPA solution to customers in Germany beginning in the spring of 2006. T-Mobile International plans to work with Siemens Communications to upgrade its networks in Germany and Austria with high-speed downlink packet access (HSDPA) capabilities. The deal involves the upgrade of T-Mobile's W-CDMA networks in these countries with a planned rollout of the HSDPA solution to customers in Germany beginning in the spring of 2006.
http://www.wirelessweek.com/article/CA6256933.html
AOL Adds Virgin Mobile USA to its Buddy List: 9/14
Virgin Mobile customers addicted to Instant Messaging can finally break free from the shackles of their PC. That's because Virgin Mobile USA and America Online, Inc. have teamed up to bring the AOL Instant Messenger (AIM) service to the device young people love the most -- their mobile phone.
Starting this month, Virgin Mobile users can chat with their buddies
wherever they go, sending and receiving IMs right from their phones. Virgin
Mobile users can IM their buddies whether those friends are logged in on a PC,
or on any AIM-enabled mobile phone.
"IM is a huge part of our customers' lives. It's an everyday form of
communication for them," says Howard Handler, chief marketing officer of
Virgin Mobile USA. "So it's a logical next step to bring this fun, familiar
service to our phones. In doing so, we wanted to partner with a like-minded
brand like AOL, which really understands and appreciates our key demographic."
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/09-14-2005/0004107111&EDATE=
Nokia Introduces Corporate E-mail: CNN, 9/13
California (Reuters) -- Nokia, the world's largest maker of mobile phones, said it was launching a corporate e-mail system to allow workers at almost any level to send and receive mail from their mobiles. Nokia Business Center, as the new e-mail system is to be known, seeks to bridge the gap between the world's 650 million corporate e-mail accounts and the elite of about 10 million who have mobile access to their business e-mail inboxes. The Finnish group, long expected to push into a market which brought success to Research in Motion's (RIM) Blackberry devices, said it wanted to make e-mail more cost-effective and available on a wider range of phones.
http://www.cnn.com/2005/TECH/ptech/09/13/nokia.email.reut/index.html
Marketing
How to Make More of Your Company's Marketing: LTW, 9/15
Whether you’re new to the marketing game or a world-weary veteran, chances are you’re in need of a little inspiration.
Take the following real world quiz and, by the end, you’ll have armed yourself with a fresh perspective, new ideas and some surprising truths that no marketing professor ever revealed.
Answer true or false – Marketing is one of a business’s most important departments.
Answer true or false – Effective brand managers wield the power of positive thinking.
Answer true or false – Marketing is an advanced science, requiring a sophisticated understanding of complex principles.
http://localtechwire.com/article.cfm?u=12288
Events
Importance of Branding: 9/27
Posted at 11:41 am by LPossiel
Permalink
Sep 13, 2005
Telecommunications
Regulators Move Ahead on 2 Phone Mergers: 9/12
The head of the Federal Communications Commission has asked agency staff to draft orders approving two big phone company mergers -- SBC Communications Inc. with AT&T, and Verizon Communications Inc. with MCI Inc. FCC chairman Kevin Martin wants the commission to take a final vote on the deals next month, two people with firsthand knowledge of the issue said Monday. They were authorized to speak about the drafts only on the condition of anonymity. The sources would not say what conditions might be placed on the mergers to ensure competition is not compromised.
http://www.herald-sun.com/business/21-645724.html
Motricity's Fuel, '05 Premium Mobile Content Platform of the Yr: Carolina Newswire, 9/12
Frost & Sullivan, in its recent analysis, U.S. Premium Mobile Downloadable Content and Applications, selected Motricity, Inc. as the recipient of the 2005 Premium Mobile Content Platform of the Year Award for its end-to-end content management platform, Fuel.
Motricity has effectively addressed all the key concerns of mobile operators through Fuel and has emerged as a key platform partner for mobile operators in their premium mobile data initiatives.
Each year, Frost & Sullivan presents this Award to the company that has made the maximum impact in driving the premium mobile content business in the United States. The Award acknowledges the technological and functional capabilities of the company's platform, and also highlights the ability of the solution to successfully address mobile operators' key requirements of sourcing, managing and delivering content across multiple technologies effectively.
http://carolinanewswire.com/news/News.cgi?database=headlines%2edb&command=viewone&id=5972&op=t
Tap Root Raises $6.5M: News & Observer, 9/13
TapRoot Systems, a Morrisville developer of software for cell phones, won its second infusion of venture capital, this time to help adapt cell phones to make calls over the Internet. The $6.5 million comes on top of an earlier commitment up to $7 million last year. TapRoot tapped into only $4 million of last year's venture capital, leaving $3 million untouched. TapRoot, founded in 2000, plans to double its staff to about 100 people by mid-2006. Most will be based at the Aerial Center business park in Morrisville; between 20 and 30 will work in London and Taiwan. Internet calling already exists for landline phones, popularized by companies such as Vonage, but the wireless version of Internet calling is still in the umbilical stage. The appeal of Internet calling -- called Voice over Internet Protocol or VoIP -- is the ability to send phone calls by the same route as e-mail, thereby reducing the cost. "If you can bypass the wireless network, then you can make phone calls almost for free," said TapRoot chief executive Hugh Thomas. About 80 percent of all advanced cell phones -- models with e-mail and Web browsing capability -- run on an operating system called Symbian, for which TapRoot specializes in writing software. "TapRoot has the largest collection of Symbian-based programmers in North America," said Mitch Mumma, a TapRoot board member and general partner with Intersouth Partners, a Durham venture capital firm that invested in TapRoot last year. "They're building on that expertise."
http://www.newsobserver.com/business/story/2794489p-9235042c.html
Alltell Swaps Rural Markets W/ US Cellular in $50M Deal: RCR Wireless, 9/13
Alltel Corp. reported a deal with U.S. Cellular Corp. to swap 15 rural markets in Nebraska and Kansas that Alltel acquired when it purchased Western Wireless Corp. for two Rural Service Area markets in Idaho currently operated by U.S. Cellular and $50 million in cash. Alltel will receive cellular licenses covering 500,000 potential customers in Idaho RSAs 5 and 6; 91,000 retail customers; 84 cell sites; six company-owned retail locations; and 32 authorized agents. The carrier said the pair of markets include 20 counties in southeastern Idaho that are adjacent to current operations.
http://rcrnews.com/news.cms?newsId=24100
Technology
Oracle to Buy Rival Siebel Systems: News & Observer, 9/13
O racle is buying hobbled Siebel Systems for about $5.85 billion, eliminating another competitor in its campaign to grab market share from business applications software leader SAP. Under the terms of the deal, Oracle will pay $10.66 a share in cash or stock for Siebel, whose products help manage companies' relations with customers. The price represented a 17 percent premium from Siebel's market value entering Monday. Despite four years of flagging fortunes, Siebel still has $2.24 billion in cash, reducing Oracle's net takeover cost to $3.6 billion.
http://www.newsobserver.com/business/story/2794477p-9234919c.html
Events
TechJournal Fall Deck Party
10/20, NCSU Centennial Campus
The DeckParty is the largest pure technology business networking event in North Carolina with over 500 senior executives and professionals from the regional technology and investment community expected to attend this free event.
http://triangletechjournal.com/calendar/view_entry.php?id=52&date=20051020
Posted at 02:09 pm by LPossiel
Permalink
Sep 12, 2005
Banking
Wachovia to Buy Westcorp, WFS In a $3.91B Transaction: WSJ, 9/12
Wachovia Corp. agreed to buy automobile-financing company Westcorp Inc. for $3.42 billion to expand its auto-finance group. The Charlotte bank also plans to purchase WFS Financial Inc., which is majority-owned by Westcorp. Wachovia will acquire the 16% stake of WFS not currently owned by Westcorp for $490 million. The deal will more than double the size of Wachovia's dealer financial services business, making it the nation's ninth-largest auto-loan originator. Wachovia will add about 8,500 automobile dealer clients, about 920,000 individual customers and 19 retail banking offices in Southern California. "This transaction moves our auto finance business to a new level and gives us access to a new set of customers who can benefit from Wachovia's broad offering of financial services," said Ben Jenkins, president of Wachovia's General Bank. "Westcorp and WFS Financial have demonstrated a strong track record of growing revenue and earnings through all economic cycles." The combined auto-finance business will be based in Irvine, Calif., site of Westcorp's current headquarters, and run by WFS Financial's President and Chief Executive Officer Thomas Wolfe, who will report to Carlos Evans, head of Wachovia's wholesale banking division.
http://online.wsj.com/article/0,,SB112652344676937890,00.html?mod=home_whats_news_us
Telecommunications
Sprint Nextel Sells NII Holdings Shares for $375M: RCR News, 9/9
NII Holdings Inc. reported in a Securities and Exchange Commission filing that Sprint Nextel Corp. has agreed to sell 5 million shares of NII's common stock to Bear, Stearns & Co. Inc. for $75.125 per share or a total sales price of $375 million. The deal also includes an option to sell another 750,000 shares of NII stock. NII Holdings previously was a subsidiary of Nextel Communications Inc. before being spun off, though Sprint Nextel still controlled approximately 16 percent of NII's stock before the latest sale. NII continues to provide international roaming service for Sprint Nextel's iDEN customers.
http://rcrnews.com/news.cms?newsId=24067
Digicel Gains Approval in St Lucia for Cingular Buy: RCR News, 9/8
CASTRIES, St. Lucia-Caribbean mobile-phone operator Digicel Group said the government of St. Lucia has approved its acquisition of Cingular Wireless L.L.C.'s operation on the island, which is home to about 166,000 people. Digicel, a GSM carrier, has plans to acquire Cingular's operations in Bermuda and the Caribbean as well as part of its vision to establish a seamless pan-Caribbean wireless network. The company has operations in Aruba, Barbados, the Cayman Islands, Curacao, Grenada, Haiti, Jamaica, St. Lucia, St. Vincent and the Grenadines and Trinidad and Tobago.
http://rcrnews.com/news.cms?newsId=24039
Downtown Durham
Bienvenidos
Downtown residents and workers now can grab breakfast or lunch at El Guajillos Mexican Grill, which opened last week in the former Latin Grill space at 325 W. Main St. The restaurant, named after a dried chili pepper, is open from 7 a.m. to 5 p.m. For breakfast, it's serving up dishes such as beef or chicken omelets, scrambled eggs with Mexican sausage and eggs with salsa ranchera. For lunch, there are big steak and grilled chicken burritos, nachos, tortas (a Mexican dish kind of like a sandwich) and huaraches. The last dish serves chicken, beef, lettuce and sour cream on top of an elongated, grilled tortilla. By the way, El Guajillos' owner, Javier Onate, also is a part owner in Durham's two El Rodeo restaurants.
Posted at 10:13 am by LPossiel
Permalink
Sep 9, 2005
Telecommunications
Wireless Tech to Be Deployed For Katrina: Herald Sun, 9/8
A high-speed wireless networking technology that's still being tested around the world will be deployed at an evacuation shelter and other spots on the U.S. Gulf Coast hit by Hurricane Katrina. The technology called WiMax will bring the Internet to remote areas where the existing infrastructure has been destroyed or never existed. The network will be used for Internet telephone service and information exchange.
http://www.herald-sun.com/business/21-644712.html
Insurance
BCBS Give Money to Clothe Katrina Evacuees: Triangle Business Journal, 9/9
Blue Cross and Blue Shield of North Carolina has donated $180 per person for new clothing and shoes for Hurricane Katrina evacuees now staying in Raleigh.
"It is hard for all of us to imagine having our belongings reduced to one change of clothes, a jacket and a pair of shoes," CEO Bob Greczyn said in a news release. "We hope this donation will help these people -- our new neighbors -- as they begin to cope with this awful tragedy."
The Chapel Hill-based not-for-profit, now in the middle of its annual United Way campaign, also announced that if its employees' campaign meets the $575,000 goal, Blue Cross and Blue Shield will donate an additional $100,000 to the American Red Cross' relief effort.
Posted at 02:59 pm by LPossiel
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Sep 8, 2005
Telecommunications
GSM Hits $1.5B Customers: Wireless Week, 9/8
GSM continues to take hold around the world, with the technology attracting 1.46 billion customers by the close of the second quarter, 3G Americas reports. GSM reached 1 billion customers during the first quarter of this year.
In the past year, 347.2 million new GSM customers were signed up around the globe, with the Americas posting the biggest gains, with 79.4 million new subscribers. In the high-speed sector, there were close to 100 commercial EDGE networks up and running throughout countries around the world, with nearly half of those networks operating in the Americas.
http://www.wirelessweek.com/article/CA6255347.html
Ebay in talks to Buy Skype: WSJ, 9/8
EBay Inc. is in talks to acquire Internet-telephony company Skype Technologies SA for $2 billion to $3 billion, according to people familiar with the matter, in a deal that would represent a dramatic shift in strategy for the world's largest online auction site.The talks are in a sensitive stage and could fall apart, according to one person briefed on the matter. Luxembourg-based Skype, whose software allows consumers to make free telephone calls around the world using Internet technology, has been in active discussions with other technology companies, and none has led to a deal.
But the emergence of eBay as a suitor reveals a lot about the auction leader's growth prospects and strategy. While still dominating its field, eBay's core business is maturing, and the company is searching for new product categories and international markets. The company has made a steady string of acquisitions and investments over the last year and a half to enter markets such as rental-property listings, online classified-ad listings and comparison shopping.
EBay's stock price has languished during the past 12 months, and yesterday closed at $40.46 a share, giving it a market capitalization of nearly $55 billion.
http://online.wsj.com/article/0,,SB112615385922335028,00.html?mod=home_whats_news_us
Sprint Nextel Implements Pricing and Billing Relief Plan for Customers Impacted: TMC.Net, 9/7
Sprint Nextel (NYSE:S) today announced it has implemented a pricing and billing relief plan for customers directly impacted by Hurricane Katrina.
Sprint Nextel will automatically issue credits for monthly service for its wireless customers in the areas hardest hit by the hurricane. In addition, wireless customers in the affected areas will receive free long distance calling, roaming and text messaging and overage charges will not be applied. Sprint Nextel will be contacting customers via text message throughout the week to communicate the billing relief plans specific to them. Customers should contact Sprint Nextel Customer Care directly for eligibility information, questions or concerns. -0- *T -- Sprint PCS subscribers: 888-211-4727 -- Nextel subscribers: 800-639-6111 -- Sprint Nextel ecare: www.sprint.com/hurricaneinfo *T
http://www.tmcnet.com/usubmit/2005/sep/1179869.htm
Durham
Developers Buy Into Vision For 'Vibrant' Corner Near Post Office: Herald Sun, 9/7
John Warasila is sinking his teeth -- and his money -- into one small corner of downtown Durham.
With the purchase of the Bargain and Central furniture buildings on East Chapel Hill Street last month, the Durham architect and his investment partners now own six properties within a one-block radius of Warasila's office at 204 Rigsbee Ave.
And Warasila envisions building a community around the post office where Durham residents can take in a concert at the CCB Plaza, dine at a nearby restaurant and live and work in spaces above ground-floor storefronts.
"It's potentially going to be a vibrant neighborhood," he said.
The Bargain Furniture building could be ready for tenants in the spring, with new business and residential occupants moving in by the summer or fall of 2006. The Center building will probably be developed along the same time frame.
Meanwhile, a dozen condominiums at The Eleanor on Rigsbee Avenue could have tenants moving in early this spring. Warasila has different investors for that project and another project at 405 E. Chapel Hill St.
http://www.herald-sun.com/business/21-644329.html
Banking
Ca Bank Adds Smart Online Services: LTW, 9/8
Union Bank of California is the latest client to offer small business services through RTP-based Smart Online.
The bank’s small business resource center now offers links to services ranging from online loans to insurance services as well as private-labeled Smart Online offerings,
"Union Bank of California is committed to providing our small business customers with a broad range of innovative products and services to assist them with their business goals - the result is increased customer satisfaction and reduced attrition over the long-term," said Christy Schmitt, a bank executive. "Since implementing our Small Business Resource Center online, we've not only been able to provide our customers with easy-to-use, cost-effective business tools and resources, but we've also integrated UBOC's own online application and look forward to providing additional online banking and accounting capabilities in the future."
http://localtechwire.com/article.cfm?u=12229
Posted at 04:20 pm by LPossiel
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Sep 6, 2005
Technology
Cree Achieves New Standard in LED Brightness: LTW, 9/6
Cree (Nasdaq: CREE) is achieving new levels of brightness with its light-emitting diodes.
The company said Friday that its white XLamp 7090 Power LED line recently achieved up to 86 lumens per watt, a 43 percent increase over current LEDs.
"These performance results indicate that the LED industry is at least two years closer to achieving the holy grail of 150 lumens per watt," said Steve Johnson, head of the Lighting Research Group at Lawrence Berkeley National Laboratory, in a statement from Cree. "Cree's announcement today means the LED industry is advancing brightness at a far greater pace than anticipated, which is great news for the lighting world."
http://localtechwire.com/article.cfm?u=12209
Telecommunications
Wireless Startup in HI Picks Nortel Infrastructure: LTW, 9/6
Coral Wireless, a new provider of wireless services in Hawaii, will use Nortel (NYSE: NT) hardware and services for its forthcoming wireless broadband network.
Coral’s personal communication service (PCS) network will utilize CDMA2000 1X infrastructure offerings from Nortel. The network is scheduled to go online early in 2006. The CDMA (code division multiple access) network offerings data speeds up to 144 KBPS per second.
Coral plans to offer “unlimited” voice and data plans starting around $50 per month.
http://localtechwire.com/article.cfm?u=12206
Motorola Heads Straight For Mobile WiMax: TechWorld, 9/2
Motorola is moving aggressively toward the next generation of WiMax wireless broadband, gearing up to introduce two product lines without waiting for the WiMax Forum to finish specifications for the technology. The vendor is bypassing completely the first form of WiMax, intended solely for broadband services to fixed client devices, and is already developing a portfolio called Moto Wi4 based on the IEEE 802.16e standard, which ultimately will allow mobile access, said senior marketing manager Paul Sergeant.
http://www.techworld.com/mobility/news/index.cfm?NewsID=4326&Page=1&pagePos=12&inkc=0
MCI Unit To Launch Car Tracking Device For Parents of Teen Drivers: Potomac Tech, 9/6
Ashburn-based MCI said on Tuesday that its SkyTel unit has launched a new vehicle-tracking device marketed to parents of teenage drivers. The device, which is priced at $300-$350, uses wireless and GPS technologies to automatically collect location, speed and other vehicle information and relay that information to a web site.
http://www.skytel.com/products/skyguard_home.htm
Sprint to Sponsor Half TIme Show: Media Buyer Planner, 9/6
Sprint will sponsor this year's Super Bowl halftime show, as the newly merged telecom giant looks to build on a recent $600 million NFL deal, Mediaweek reports. Ameriquest Mortgage, sponsor of last year's Super Bowl halftime show, had a one year deal with a two-year option, which sources said was not picked up this season by mutual agreement. Halftime sponsorship rights, which this year was valued about $10 million, were likely part of the $300 million in the "rights fees" portion of Sprint's NFL deal, said analysts. The pact already includes sponsorship of the Sept. 8 Opening Kickoff fest on ABC, which will also televise the big game.
http://www.mediabuyerplanner.com/2005/09/06/sprint_to_sponsor_super_bowl/index.php
Sprint, Verizon Face off on High Speed Wireless Pricing, Kansas City Star, 9/6
Sprint Nextel Corp. has lower prices for high-speed wireless Internet connections that counter a new initiative by rival Verizon Wireless. A week ago, Verizon said it had expanded its broadband access to a total of 62 markets across the country and lowered prices by 25 percent to $59.99 a month for unlimited usage. In its announcement a few days later about a new branding campaign and a new lineup of services, Sprint said it was offering free connection cards to some customers and the same lowered prices as Verizon for a similar high-speed Internet service. In addition, Sprint executives said, a plan that offers varying prices depending on service usage was launched about three months ago.
http://www.kansascity.com/mld/kansascity/12568193.htm
Sprint Nextel Can Roll W/ New Brand:Wireless Week, 9/6
Sprint Nextel recorded a partial victory in its battle with Nextel Partners after an arbitration panel denied Nextel Partners' request to block Sprint Nextel's rollout of its new Sprint brand nationally. Nextel Partners is not completely defeated, however, in that the panel suggested a Sprint Nextel decision to roll out the brand without the inclusion of Nextel Partners could violate non-discrimination provisions of the companies' joint venture agreement, a Nextel Partners' Securities and Exchange Commission (SEC) filing says.
http://www.wirelessweek.com/article/CA6254217.html
Posted at 04:40 pm by LPossiel
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