Centel head, advisers stand to profit in acquisition by Sprint, proxy says

Article Abstract:

The chairman of Centel Corp, John P. Frazee, and financial advisers will receive large payments as a result of Centel's controversial acquisition by Sprint Corp. Frazee will receive $3 million cash and be given the title of president and chief operating officer at Sprint, receiving $415,000 per year and a $375,000 yearly bonus. Frazee will give up his employment at Centel, which paid him a yearly salary of $1 million, and his termination agreement with Centel, which would have given him $5.3 million if a merger caused him to leave the company. Financial advisors for both companies will also receive payments ranging from $2.25 million to $10 million. Many Centel shareholders are unhappy with the deal and plan to try to scuttle it because they would have preferred the companies to form two separate companies, a local telephone company and a cellular telephone company.

Telephone and telegraph apparatus, Radiotelephone communications, Telephone communications, exc. radio, Holding companies, not elsewhere classified, Officials and employees, Mergers, acquisitions and divestments, Telecommunications services industry, Telecommunications industry, Acquisitions and mergers, Contracts, Appointments, resignations and dismissals, Sprint Corp., Chief executive officers, Executive, Acquisition, Merger, New Appointment, Centel Corp., CNT, Frazee, John P., Jr.

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AT&T's Bell Labs develops a laser for use in chips

Article Abstract:

AT&T's Bell Laboratories develops the world's smallest semiconductor lasers, so tiny that 10,000 can fit on the head of a pin. The devices are for use in fiber optic communications equipment. The lasers are 5 microns in diameter. Viewed through a scanning electron microscope, the 'microdisk lasers' resemble thumbtacks with heads 400 atoms thick, or one-thousandth the diameter of a human hair. They can be used in optical switches and connectors for linking computers, but research must still show that they can be made as cheaply as current electrical connectors and that they can be used with silicon-based equipment. The lasers are made of a layer of indium gallium arsenide covered with indium gallium arsenide phosphide.

Communications Equipment, Commercial physical research, Semiconductor devices, Product development, Electronic components, Telecommunications equipment, Fiber optics, Lasers, Laser, Lucent Technologies Inc. Bell Laboratories, Semiconductor Device

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