Another woe as Ciena loses AT&T business
Article Abstract:
Ciena Corporation's planned $7.1-billion merger with Tellabs Inc. would be affected by an announcement that AT&T had decided not to pursue its move to purchase Ciena's technology, which is capable of expanding the capacity of a fiber optic line 40 times. Ciena and Tellabs decided to delay merger votes until Sep. 9, 1998, due to assumption that AT&T would purchase in 1999 $100 million worth of equipment from Ciena. The Ciena-Tellabs merger would still be effected but its terms would have to be renegotiated in favor of Tellabs, according to several analysts. Tellabs is the manufacturer of equipment that function as a sort of traffic officer on phone networks.
Comment:
Its planned $7.1-bil merger with Tellabs Inc may be affected by AT&T's decision to drop its plans to buy equipment from this co
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Two casino operators plan to start Las Vegas airline
Article Abstract:
Harrah's Entertainment Inc. and Rio Hotel and Casino Inc. have contributed $30 million of an initial investment of $50 million for the financing of a new airline, called National Airlines, that will provide service between Las Vegas and East Coast cities. Other financing for the deal has come from Wexford Capital Management of Greenwich, Conn. The new airline, which is being planned by former America West founder Michael J. Conway, will use four 200-seat 757 aircraft. Industry analysts are cautious about the new airline's potential for success due to competition from other low-cost airlines.
Comment:
Has given $30 mil, with Harrah's Entertainment Inc., of initial investment of $50 mil for the new airline, National Airlines
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Wall St. unmoved by possible Fedex strike
Article Abstract:
A union contract has never been signed at FedEx yet, not since the company's founding in 1971. Wall Street doesn't even seem to care one way or the other. Analysts seem to think that if there is a strike, it won't last long, and it won't hurt business, and that's all that matters, to investors at least. The company has been making serious plans to cover its bases in the event the pilots walk. And the pilots are ready to make concessions in their demands. December 3rd is the strike vote deadline.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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