Intellicall names crisis expert interim chief
Article Abstract:
James P Hassett, a bankruptcy-court appointed trustee and crisis management expert, has been named interim president and CEO of Intellicall Inc, which has suffered from loan defaults and board suspensions since 1st qtr 1991. Intellicall has received some waivers for its loan defaults, but Hassett has been brought in to manage negotiation of other loan repayments. It is unlikely Intellicall, a fast-growing pay telephone service provider, could repay loans that are called. Intellicall violated the terms of its $45 million credit line and its $10 million senior note in 1st qtr 1991, a fact hidden by four executives on the board who have received suspension for their actions. The executives are still company employees, pending the investigation's completion, including a complete audit of inventory and accounting practices.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Storage Tek stock jumps on firm's plans to buy Amperif and ship Iceberg system
Article Abstract:
Storage Technology Corp will acquire Amperif Corp, a storage system company, for $83,6 million of stock. Storage Tek expects to ship its long-awaited high-capacity Iceberg storage systems by the 4th qtr of 1993. Iceberg is expected to go into beta test in July. Storage Tek's stock increased $3.375 on May 20, closing at $44. Storage Tek says it plans a three-part strategy to enhance market coverage. The Iceberg product is one part, Amperif's Viking disk array storage subsystem is another and Storage Tek's Nordique product is a third.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Professionalization and British management practice: case evidence from medium-sized firms in two industrial sectors
- Abstracts: The right numbers: investors like Third World phone firms, even if their customers don't. Hollywood is seeing the future, and it is interactive show biz; film, TV moguls 'do lunch' with computer nerds over multimedia plans: 'not just a buzz but a frenzy.' (interactive multimedia and the future of the entertainment industry)
- Abstracts: Quality of telecommunications exports to former Soviet bloc to be raised. Sprint to supply Soviet joint venture with switches
- Abstracts: Accounting changes and earnings predictability. Safe harbor or muddy waters. The evaluation by the financial markets of changes in bank loan loss reserve levels