Archive for January 2008
Kyocera Leaving Chinese Cell Phone Market
Even when China is adding millions of new cellphone users per month, some companies still can find a way making money. Kyocera is the latest victim of the China Money Trap.
Kyocera Corp. is exiting the Chinese cell phone market after a joint venture failed to deliver strong sales, Nikkei English News reported, without citing anyone.
The Kyoto, Japan-based company is handing over 45 percent of its 70 percent stake in Kyocera Zhenhua Communication Equipment Co. at no cost to partner China Zhenhua Science & Technology Co., the news service said.
The other 25 percent will go to a Hong Kong-based cell phone sales firm, also at no cost, Nikkei said. Both transactions are to be completed by the end of March, the news service said.
Kyocera will also give up about 57.6 million yuan ($8 million) in loan claims, the news service said.
Boss Talk (John Rowe, Exelon)
John Rowe on 4Q07 results.
Turning to the results, it’s hard for me to display the proper air of jubilation in the kind of the stock market we are in. But even basset hound has to howl once in a while. And we had the kind of year that we should be truly ecstatic about.
Angry Letter (Evercore to Ambac)
There seems to be a lot of angry investors these days. If anyone has the right to complain, it is guys from Evercore, an investor of the troubled monoline insurer Ambac. Read the rest of this entry »
Angry Letter (Blum Capital to MoneyGram)
Blum Capital is a 9.9% shareholder of MGI which recently suffered large write-down of its float investment portfolio related to subprime mortgage and, interestingly, refuse to talk to a potential suitor. Read the rest of this entry »
Angry Letter (MMI Investments to Unisys)
MMI is a 9.9% shareholder of UIS. After witnessing UIS share down more than 50% in the past 12 months, here is what they have to say: Read the rest of this entry »
Dark Night for Golden Globe
What’s the best thing of not having live coverage of the award ceremony of the Golden Globe? It might be that you don’t have to worry about which designer dress you have to wear on the red carpet. But I think it is that instead of having a camera zoomed in on you and having to clap along, you can swear “son of bitch” in your PJ when you learn that you have lost your Golden Globe to your fellow nominee.
