Mr. Smith goes to cyberspace
Article Abstract:
The US Library of Congress has introduced a new service, called Thomas, which enables Internet users to access the full text of any bill introduced into Congress since 1992. The service, which is named in honor of Thomas Jefferson, is available over the World Wide Web, the fastest growing area of the Internet. The service will soon contain all new issues of the Congressional Record, including every House speech. House Speaker Newt Gingrich has been promoting Thomas as a way to give the average US citizen easy access to politicians in Washington, DC. However, the Gingrich's prediction is not without some hitches. First, each citizen would need to purchase a computer. Second, unless users have access to technology beyond regular phone lines and modems, the service will be extremely slow. Users hoping to voice their opinions via the service will also find very few listeners; only 36 House members and seven Senators currently have e-mail addresses.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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Lucent opens with a bang, as its shares jump 13%
Article Abstract:
AT&T took its equipment subsidiary Lucent Technologies Inc public on Apr 4, 1996, marking the largest stock offering in history. Shares of the $21 billion company increased 13% to $30.625, beating investment bankers' predictions. Lucent sold 17.6%, or 112 million shares, of its total stock, raising $3 billion. It plans to use most of the money to reduce a $2 billion short-term debt. AT&T plans to spin off the remaining Lucent shares to AT&T shareholders by the end of 1996. Lucent is undergoing a major reorganization effort to help prepare itself for stiff competition in the communications industry. The company is reducing its payroll by 22,000 employees, creating segments to address new technologies, and closing down marginal or unprofitable business lines. In 1995 the company reported a net loss of $867 million, due largely to $2.8 billion in revamping charges.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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F.C.C. vote gives Murdoch big victory on ownership
Article Abstract:
The FCC ruled that Rupert Murdoch's News Corp is in violation of foreign ownership laws but set out guidelines for how the company could find exceptions to the rules. The 5-0 ruling determined that the News Corp's 99% ownership of eight television stations is in technical violation of laws that limit foreign ownership of US-based properties. After making its ruling, however, the FCC then ruled that News Corp should be given the chance to apply for a waiver that would show why News Corp's business is in the public interest. Several FCC commissioners also indicated that they already support News Corp because it has provided competition for the other major television broadcasting networks. The FCC also blamed its predecessors for not making the foreign ownership laws clear enough to stop News Corp from establishing its business.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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