Cisco embraces 'Internet economy.'

Article Abstract:

Cisco Systems is one of the high-tech industry's fastest-growing company. The company hit $100 billion in market value in early 1998, less than nine years after going public. Attributing to its growth is its utilization of computer networks, a strategy that saves it an estimated $360 million annually. Cisco CEO John Chambers is set to meet with legislators in Washington to dicuss his ideas about the economy of the future, pertaining to an economy in which the exchange of goods, services and information is increasingly made via the Internet. Chamber aims to share his ideas on how best to regulate the business without diminishing it with heavy regulations.

Comment:

CEO John Chambers is set to meet w/ legislators to dicuss his ideas on economy of the future, the Internet

Telephone Apparatus Manufacturing, Public affairs, Telephone & Telegraph Eqp NEC, Cisco Systems Inc.

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Starbucks fills Asia's cup

Article Abstract:

Starbucks' two outlets in Hong Kong are having full seats every day in the six weeks since their opening, with revenues 30% higher than expected. The Seattle-based coffee chain has already joined the ranks of Coke, McDonalds and Kentucky Fried Chicken in winning the hearts and taste of the island's local residents. Starbucks hopes that it can duplicate its feat of creating an upscale coffee culture in the US also in Asia. This Starbucks is doing not only through coffee but also through food, with sales of sandwiches and pastries accounting for 30% of store revenues.

Foreign operations, Other Eating Places, Limited-Service Eating Places, Restaurants, Starbucks Corp.

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Phone-gear makers tying knot

Article Abstract:

Bay Networks of California is set to be purchased by Ontario-based Northern Telecom (Nortel) in a stock deal valued at around $9.1 billion. The acquisition will enable Nortel to move data over networks in addition to its ability to move voice. It will also enable Nortel to compete with Lucent Technologies, Alcatel Alsthom, and Cisco. Nortel will issue 0.6 shares for each Bay Networks share, making Bay a wholly owned Nortel subsidiary. No layoffs are expected to result from the merger and Nortel CEO John Roth will remain in his post.

Comment:

Is set to purchase Bay Networks of California in a stock deal valued at around $9.1 billion

Canada, Asset sales & divestitures, Acquisitions & mergers, Office & Computing Machines, Telecommunications Equipment, Communications Equipment Manufacturing, Office equipment, Northern Telecom Ltd., Bay Networks Inc.

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