Hooper SAN JOSE, Calif. (AP) – Cisco Systems Inc. named a chief strategy officer Wednesday, choosing Ned Hooper to help shape the company’s approach to moving into new markets. The appointment comes as Cisco looks to expand its reach beyond its core business of making computer networking gear. Hooper, who also serves as the company’s […]
Comcast’s new debt given investment grade rating
SAN FRANCISCO (AP) – Comcast Corp.’s new $1.5 billion debt issue received an investment grade rating on Tuesday from Standard & Poor’s Ratings Services. Philadelphia-based Comcast had issued $700 million of debt carrying an interest rate of 5.7 percent, due 2019, and $800 million of debt, at 6.55 percent, due 2039. S&P gave the new […]
CommScope falls after announcing note, share offer
NEW YORK (AP) – CommScope Inc. shares sank Thursday afternoon after the network infrastructure company said it would offer 8 million common shares and $200 million in senior subordinated notes due 2015. Shares of CommScope fell $2.61, or 10.4 percent, to $22.42 in the first day of trading after the company’s late-Wednesday announcement. A company’s […]
Toshiba expects bigger loss, contract job cuts
TOKYO (AP) – Toshiba Corp., Japan’s top chipmaker, Friday said its net loss for the last fiscal year will be bigger than forecast due to a large write-off, and warned that more contract jobs will be cut. The company will cut 3,900 contract workers in Japan by March of next year, according to spokeswoman Hiroko […]
Phone, Internet service restored in Silicon Valley
SAN JOSE, Calif. (AP) – Cell phone, Internet and landline service is back in Silicon Valley after one or more vandals apparently severed eight fiber-optic cables. San Jose police said there was evidence that someone removed a manhole cover and cut four cables early Thursday. The incident wiped out phone and Internet service for thousands […]
A comparison of economic stimulus plans
A comparison of the $838 billion economic recovery plan passed by the Senate with an $820 billion version passed by the House (see The New York Times’ take on the technology aspect of the stimulus bill here). Additional debt costs would add almost $350 billion over 10 years. Many provisions expire in two years. SPENDING […]