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SOUTHEAST TECH WIRE -- Aug. 30, 2002
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To Subscribe For Free: http://www.southeasttechwire.com
o BellSouth Again Cuts Outlook For 2002; Stock Drops
o Florida-based AOL Latin America Receives Delisting Notice From Nasdaq
o SES Americom Takes Stake in Fla.-based Internet Satellite Platform Inc.
o Class Action Lawsuit Filed in Florida Against AT&T Broadband
o Judges Rules in Favor of Scientific-Atlanta in Patent Infringement Case
o Briefly Noted: BAE Systems - Esterline Technologies, IBM - eSuds,
Cablevision Systems - Scientific-Atlanta, Herman Echevarria - SBA
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o BellSouth Again Cuts Outlook For 2002; Stock Drops
Atlanta -- The stock price of Atlanta-based BellSouth, the Southeast's
largest technology employer, dropped 3% in late-day trading on Friday
after the company warned again that its 2002 earnings would fall below
Wall Street's expectations. The new earnings guidance is the second time
BellSouth has lowered its outlook in recent weeks. The company blamed its
ongoing restructuring plan, a slowdown at its wireless business, and the
turbulent economy for the downward revision. Last week, Cingular --
BellSouth's wireless joint venture with SBC Communications -- announced
that it will cut 3,000 jobs, or 7% of its total workforce.
http://biz.yahoo.com/rb/020830/telecoms_stocks_3.html
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o Florida-based AOL Latin America Receives Delisting Notice From Nasdaq
Ft. Lauderdale, Fla. -- Ft. Lauderdale-based AOL Latin America said on
Friday that it has received a delisting notice from the Nasdaq. The
company, backed by AOL Time Warner and Venezuela's Cisneros Group, said it
intends to request a hearing with the Nasdaq to appeal the ruling. The
Nasdaq said the company no longer meets the $35 million market
capitalization requirement for continued listing. If AOL Latin America is
delisted from the Nasdaq, its shares will begin trading on the
over-the-counter market, which has fewer requirements and is less
regulated.
http://biz.yahoo.com/rb/020830/tech_aollatam_3.html
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o SES Americom Buys Stake in Fla.-based Internet Satellite Platform Inc.
Orlando, Fla. -- SES Americom, a major European-backed satellite firm,
announced on Thursday that it will acquire a 20% stake in Florida-based
Internet Satellite Platform Inc., a provider of satellite-based Internet
service for ISPs and cable operators. Terms of the investment were not
disclosed. "We believe that companies like Internet Satellite Platform
with a service offering and a realistic business plan with a go-to-market
focus, validate the important role for satellite in the delivery of
Internet resources to consumers," said Dean Olmstead, CEO of SES Americom.
Internet Satellite Platform allows ISPs and cable companies to offer
Internet service on a private label basis.
http://www.newsalert.com/bin/story?StoryId=Cpw2CqbKbytiZot
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o Class Action Lawsuit Filed in Florida Against AT&T Broadband
West Palm Beach, Fla. -- A class-action lawsuit filed in a federal court
in Florida alleges that AT&T Broadband attempted to deny access of
broadband service to poor and minority neighborhoods in an effort to boost
profitability. The practice is called "electronic redlining." The suit,
filed by two Florida residents, alleges that AT&T Broadband has failed to
wire neighborhoods in minority and low-income neighborhoods as it awaits
its merger with Comcast, which is scheduled for October. "AT&T Broadband
completely rejects any claim of redlining, and we will vigorously oppose
this lawsuit," said Rick Bailey, general counsel at AT&T Broadband. "We
are confident that this lawsuit will have no impact on the expected close
of our merger with Comcast."
http://www.newsalert.com/bin/story?StoryId=Cpw7TWbebDxmTCMvKBgLUAw5N
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o Judges Rules in Favor of Scientific-Atlanta in Patent Infringement Case
Atlanta -- Scientific-Atlanta on Friday said that it has received a
favorable ruling from the U.S. International Trade Commission that found
that the company is not infringing on patents from Gemstar-TV Guide
International. Gemstar had claimed that Scientific-Atlanta was importing
set-top boxes containing "interactive program guides" that infringe on its
patents.
http://biz.yahoo.com/djus/020830/1014000322_1.html
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o Briefly Noted:
(Lillington, N.C.) BAE Systems, a large defense contractor, said on Friday
that it has completed the sale of its defensive countermeasures business
to Esterline Technologies for $67.5 million in cash. At its facility in
Lillington, North Carolina, about 65 employees produce radar
countermeasure devices used by military aircraft to help protect against
radar-guided missiles.
http://www.newsalert.com/bin/story?StoryId=Cpw2CqbKbytiZnZu
(Research Triangle Park, N.C.) IBM, one of the largest employers in the
Research Triangle, has developed a new service aimed at college students,
called eSuds. The special washers and dryers allow students to check a web
site for empty machines in their dorms and to add soap that is dispensed
automatically by the washing machine. When the wash is done, students can
receive an e-mail telling them to pick up their clothes.
http://biz.yahoo.com/rf/020830/tech_ibm_washingmachines_2.html
(Atlanta) Cablevision Systems, a major cable television company, said on
Thursday that it will begin buying digital cable boxes from
Scientific-Atlanta. The move by Cablevision Systems is aimed at reducing
its reliance on more expensive set-top boxes made by Sony. The
Scientific-Atlanta boxes will be used by the company to expand its digital
service to new areas.
http://biz.yahoo.com/rc/020829/media_cablevision_1.html
(Miami) Herman Echevarria, the chairman of Miami-based BVK/Meka who is
active in various Southern Florida business organizations, has been
appointed to the Small Business Administration's National Advisory
Council. BVK/Meka, is an international marketing and communications firm.
http://www.newsalert.com/bin/story?StoryId=Cpw7TwbKbytaXmdy
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