Newspaper wrap-up: Activist investor displeased with Sprint

Posted Oct 4th 2007 9:11AM by Eric Buscemi
Filed under: Newspapers, Magazines, Yahoo! (YHOO), Cisco Systems (CSCO), General Motors (GM), Sprint Nextel Corp (S), Merrill Lynch (MER), Countrywide Financial (CFC)

MAJOR PAPERS:

Sprint Nextel Corporation's (NYSE: S) investors are unhappy, and led by the activist investor Ralph Whitworth, are voicing their displeasure with chairman and CEO Gary Forsee and the company's board, reported the Wall Street Journal.
Merrill Lynch and Company (NYSE: MER) has fired several top executives as a result of the fallout from the credit crunch, The Financial Times reported.

OTHER PAPERS:

The Associated Press reported that members of the United Automobile Workers union at two General Motors Corporation (NYSE: GM) locals have approved the union's tentative contract agreement with GM, local union officials said Wednesday.
Countrywide Financial Corporation (NYSE: CFC) has been ordered by a Delaware court to provide confidential information about its stock-granting practices to a Louisiana-based police pension fund that has invested in Countrywide, reported the Los Angeles Times.

WEBSITES:

According to the Register, Alvarion Ltd (NASDAQ: ALVR) and Redline Performance Products (NASDAQ: REDL) are considered the most likely WiMAX companies to be acquired by Cisco Systems (NASDAQ: CSCO), but Airspan Networks (NASDAQ: AIRN), Aperto, and Navini have also been mentioned as possible acquisitions for the Internet networking giant.
CNet.com reported that Yahoo Inc (NASDAQ: YHOO) is upgrading its e-mail system starting today with technology designed to block phishing, spam, and other fraudulent e-mails that look like they come from eBay (NASDAQ: EBAY) and PayPal, but actually don't.

Tags: ap, associated press, AssociatedPress, cfc, cisco, cnet, countrywide, csco, ebay, financial times, FinancialTimes, ft, general motors, GeneralMotors, gm, la times, LaTimes, los angeles times, LosAngelesTimes, mer, merrill lynch, MerrillLynch, newspaper, paper, paypal, periodical, register, s, sprint, wall street journal, WallStreetJournal, wsj, yahoo, yhoo

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Reader Comments (Page 1 of 1)

10-04-2007 @ 10:36AM

justin said...

Any thoughts to the rumors that Verizon could be interested in a takeover of Sprint? (flyonthewall seems to hope so and NewsVisual did a story on the corporate ties between boards of the companies that looks interesting: http://www.newsvisual.com/newsvisual/2007/10/sprint-and-veri.html ). Wouldn't this be next to impossible considering the size Sprint, or is this something that seems relatively do-able?