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wnbc posts

Newspaper wrap-up 4-18-07: Blackberry service suffers meltdown

Posted Apr 18th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, General Electric (GE), Research in Motion (RIMM), Goldman Sachs Group (GS), Verizon Communications (VZ), Jones Apparel Group (JNY), Vonage Holdings (VG), SLM Corp (SLM)

MAJOR PAPERS:

Vonage Holdings Corp (NYSE: VG) said bankruptcy is one of the potential risks from its continuing patent litigation with phone giant Verizon Communications Inc (NYSE: VZ), reported the Wall Street Journal.
Blackstone Group is selling Extended Stay Hotels to Lightstone Group for $8B, which beat offers from Fortress Investment Group (NYSE: FIG) and Goldman Sachs Group Inc (NYSE: GS), according to the Wall Street Journal.
The Wall Street Journal reported that other financial firms such as Countrywide Financial Corporation (NYSE: CFC), CIT Group Inc (NYSE: CIT), iStar Financial (NYSE: SFI), and KeyCorp (NYSE: KEY) may be in play after the sale of Sallie Mae (NYSE: SLM).

OTHER PAPERS:

The Telegraph reported that General Electric Company (NYSE: GE) is looking to sell a natural gas power plant in the UK for an estimated GBP450M-GBP500M, with potential buyers including E.ON AG ADS (NYSE: EON) and Scottish Power ADS (NYSE: SPI).
The New York Post has learned that Heather Pech, a senior Jones Apparel Group Inc (NYSE: JNY) executive that headed the Nine West retail chain, has left the company.

WEBSITES:

WNBC.com reported that Research in Motion Limited's (NASDAQ: RIMM) Blackberry service is suffering a massive system failure since last night.

Four major NBC stations' employees authorize strikes over contracts

Posted Jun 6th 2006 2:08PM by Tobias Buckell (RSS feed)
Filed under: Bad News, Press Releases, General Electric (GE)

NBC always seems to be GE's Achilles Heel. A union representing some 2,500 NBC employees throughout four rather major network stations has voted to authorize a strike. WNBC of New York, WRC of Washington D.C, and WMAQ in Chicago and KNBC in Burbank are the stations affected. No strike date is on the calendar, but it looks like employees are pulling out the big guns in a battle over overnight shift differential pay and health care coverage.

NBC's spokespeople say that negotiations are continuing, so its not clear if this is an attempt by the union to force NBC into action sooner, or if it is a genuine failure for both parties to find common ground. However, in scanning a lot of stories about contract negotiations, health care coverage seems to be the straw breaking the camel's back. It isn't just an Achilles heel for GE, but all sorts of large corporations.