Create an Account
username: password:
  MemeStreams Logo

What questions are you asking yourself?


My Blog
My Profile
My Audience
My Sources
Send Me a Message

sponsored links

Jeremy's topics
   Sci-Fi/Fantasy Literature
   Movie Genres
    Cult Films
    Independent Films
    Film Noir
    Sci-Fi/Fantasy Films
   Music Styles
    Electronic Music
    Rap & Hip Hop
    World Music
   TV Documentary
   TV Drama
   SciFi TV
  Finance & Accounting
   Tech Industry
   (Telecom Industry)
  Markets & Investing
  Video Games
   PC Video Games
   Console Video Games
Health and Wellness
Home and Garden
   Using MemeStreams
Current Events
  War on Terrorism
  Cars and Trucks
Local Information
  United States
    SF Bay Area
   Events in Washington D.C.
   News for Washington D.C.
     Atlanta Events
  Nano Tech
  International Relations
  Politics and Law
   Civil Liberties
    Internet Civil Liberties
   Intellectual Property
   Computer Security
   PC Hardware
   Human Computer Interaction
   Computer Networking
   Software Development
    Open Source Development
  Military Technology
  High Tech Developments

support us

Get MemeStreams Stuff!

Current Topic: Telecom Industry

Corning's Desperate Deal Destroys Value
Topic: Telecom Industry 6:45 am EDT, Aug  2, 2002

When you're in dire straits, you do what you have to do.

There seems to be no end to the bad news, and that Corning's balance sheet, which looked so solid a year ago, is now shaky.

Needing cash, Corning announced "a glorified common stock offering" that has sent its shares down 50% in just three days.

Corning's problem is that there is no sign when its business will revive.

This offering shows that Corning has decided that a huge dilution of its current shareholders is unavoidable. It is not a good sign for investors.

Corning's Desperate Deal Destroys Value

KT selects Lucent for Optical Upgrade
Topic: Telecom Industry 8:30 pm EDT, Aug  1, 2002

Lucent Technologies will supply KT (formerly Korea Telecom) with an advanced optical system that will allow KT to quadruple capacity of its existing networks. This marks the first major introduction of 10-gigabit technology to South Korea's largest communications service provider's long-distance transmission networks.

Under the terms of the contract, Lucent will deliver 25 WaveStar TDM 10G (STM-64) systems by the end of September to upgrade KT's current 2.5 gigabit-based city-to-city networks in Gyunggi, Chungcheong, Jeonra and Gangwon province to 10G capacity-based networks. The commercial service is scheduled to start this November.

KT selects Lucent for Optical Upgrade

JDS Sells Optic Unit at Rock-Bottom Price
Topic: Telecom Industry 4:29 pm EDT, Aug  1, 2002

JDS Uniphase, the world's largest supplier of components and modules that boost the speed and capacity of optical networks, will sell its Cronos MEMS business and assets acquired for $565 million two years ago. The selling price? $8.5 million dollars.

A week ago, JDS said it would cut more jobs and shutter plants as it reported a fourth-quarter loss of nearly $1 billion and warned sales would continue to erode.

How often do you see a "98.5% OFF" sale?

JDS Sells Optic Unit at Rock-Bottom Price

Verizon Posts $2B 2Q Loss
Topic: Telecom Industry 4:23 pm EDT, Aug  1, 2002

Infected by the same malaise that has sickened the entire telecom sector, Verizon posted a $2.12B net loss on Wednesday, after being hit with an earnings charge, weak demand and tough competition. All this, despite cutting more than a billion dollars in CAPEX this year.

The company also cut its earnings and revenue outlook for the year.

More than half of Verizon's $4.2B in one-time charges were related to the company's interest in Genuity, which defaulted on a $2B line of credit and a $1.15B loan.

Verizon Posts $2B 2Q Loss

EarthLink Reports $40 Million Loss
Topic: Telecom Industry 4:20 pm EDT, Aug  1, 2002

EarthLink lost $40 million in the second quarter as subscriber growth for high-speed Internet access was canceled out by a nearly 7% loss of dial-up customers.

Broadband now represents more than 17% of total revenue.

Doing better in some ways, but still unable to turn a profit ...

EarthLink Reports $40 Million Loss

Ready or Not, Wireless Merger May Be Coming
Topic: Telecom Industry 6:35 am EDT, Jul 29, 2002

"This is a terrible time to try and sell a wireless asset, but [Deutsche Telekom] is under quite a bit of pressure. Nobody got rid of Sommer to just leave things the way they were."

Morningstar analyst: "VoiceStream is gone. Without question, you cannot be the sixth player. It's bad enough being third, fourth, or fifth."

Bankers ask, even at a 67% discount, who would want to buy it?

Ready or Not, Wireless Merger May Be Coming

Qwest Finds Problem With $1.1 Billion in Transactions
Topic: Telecom Industry 6:02 am EDT, Jul 29, 2002

Qwest Communications International, the dominant provider of local telephone service in 14 Western states, said last night that it had incorrectly accounted for more than $1.1 billion of transactions from 1999 to 2001 in the latest revelation of accounting irregularities at a telecommunications company.

Qwest also said that its accounting problems might extend to areas beyond the sale of fiber optic capacity, where most scrutiny had been focused until recently.

Qwest CEO Notebaert: "We will not be the next shoe to drop." ... "I don't feel confident making any predictions about [telecom industry] recovery."

Qwest's ability to evade a bankruptcy filing depends to some degree on its ability to secure additional financing from its banks. Qwest CFO, on compliance with loan requirements: "We don't know what the second quarter is going to look like."

Qwest shares are down 94% in the last year. ... Serious doubts exist over whether [bandwidth swapping] deals were appropriate in any way [regardless of the accounting method employed].

Also: $400M improperly accounted for at QwestDex, the directory service Qwest had hoped to sell for cash.


If the banks detect loan violations, they can call in the debts immediately and force Qwest into bankruptcy.

Qwest will hold a conference call on Monday. Then stay tuned for Tuesday's hearing before the Senate Commerce Committee.

Qwest Finds Problem With $1.1 Billion in Transactions

Telecom Giants Are Retrenching in Europe as Finances Wither
Topic: Telecom Industry 7:08 am EDT, Jul 26, 2002

Several large European telecommunications companies announced plans today to retrench from global ambitions nursed during the stock market boom, by writing down the value of assets, agreeing to suspend unprofitable operations and selling some units.

In a striking reversal of a bold yet improbable plan to build a wireless network across Europe, the Spanish company Telefonica said it would "freeze" mobile operations in Germany, Austria, Italy and Switzerland.

Telefonica and Sonera will each make a US$3.98B write-down on the wireless licenses that will now go unused. Telefonica is playing the executive shuffle in an attempt to "look busy!" while the investors are watching.

France Telecom is trying to reduce its 60+B euros of debt by selling off a stake in its broadcasting division. But there are dangers. BT did this and now struggles to find growth. For the quarter ended June 30, BT earnings fell to 275M euros, from 4.4B euros in the period last year. Revenue fell 17%.

[Various French and Spanish telecoms are also bleeding cash in Latin America and are struggling to find a way out of the economic disasters underway there.]

[Executives are now] acknowledging that the big bets they made on a new generation of wireless devices might have been premature.

Telecom Giants Are Retrenching in Europe as Finances Wither

Genuity Faces Bankruptcy as Verizon Ignores an Option
Topic: Telecom Industry 6:50 am EDT, Jul 26, 2002

Genuity, the last of the original Big Three Internet carriers, may be about to go the way of its competitors -- into bankruptcy.

Stock down 89% yesterday, to 29 cents. Now in default on $3B in loans. Bankruptcy could be only months away. Firm suddenly draws $723M in cash on existing credit lines. Deutsche Bank, refusing to participate, brings federal lawsuit against Genuity to halt the transaction.

Verizon says, "Forget It!" about re-acquiring Genuity.

This is a perfectly rational decision for Verizon. They figure, "why should I assume $3B in Genuity debt? For billions less, I can buy just as much long-haul capacity through the bankruptcy court liquidations."

Genuity Faces Bankruptcy as Verizon Ignores an Option

Telecom Bankruptcy Wave May Become Self-Perpetuating
Topic: Telecom Industry 7:45 am EDT, Jul 25, 2002

As a handful of telecommunications companies begin to trickle out of bankruptcy protection, analysts fear their financial reorganizations could have unintended consequences that exacerbate the industrywide meltdown.

The spate of bankruptcy filings so far is doing little to solve the industry's underlying problem.

So far, only a tiny fraction of telecommunications companies have survived bankruptcy protection. But those that have are going to make their presence known.

Meta Group: "There's a theory that ... bankruptcy [is] a healthy move and a way to wipe away the debt. But the probability of that happening is very low."

Another analyst: "The problem here is that networks never go away. As each of these guys go bankrupt, the pain spreads to everybody else."

The LA Times gives its readers a lesson in Telecom 101. Welcome to the real world, people; it's over.

Telecom Bankruptcy Wave May Become Self-Perpetuating

(Last) Newer << 1 - 2 - 3 - 4 - 5 - 6 >> Older (First)
Powered By Industrial Memetics