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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (29506)	10/29/1999 4:03:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Global Crossing Goes All Out By Wendy Sharp October 28, 1999 Get-Rich Tip:Go all out. Global Crossing, the telecommunications company planning on building a worldwide fiber-optic network, posted better-than-expected numbers on Wednesday. The company lost 4 cents a share in its third quarter, on revenues of $929 million, but did Wall Street care? Nah! Analysts were expecting a loss of 10 cents a share, due to costs associated with acquisitions and network investments. Spend more! Be our guests. In the same quarter last year, the company made a profit of 2 cents a share. Global Crossing attributed its higher numbers to increased demand in Europe for connections to U.S. Internet sites. TODAY'S HAPPENINGS Bright and Early: Silicon Alley Breakfast Club hosts a "meet the Media Maven" eye-opener Wednesday, as Mary Ann Packo of Media Metrix addresses the New York crowd. Media Metrix provides a popular set of Web site traffic and popularity rankings, and Packo will detail the changing market and her company's success. Don't forget to set your alarm for the 7:45 a.m. ET start. I'm Going to Disneyworld: Need a Florida vacation? Walt Disney World plays host to the Web Marketing conference this October 28-29. The annual conference aims to provide real world solutions for building rich Web pages, including push technology, streaming audio and video, and interactive applets. The Great: The Churchill Club and the Computer Museum History Center host a cocktail party on October 28, featuring former Intel chairman, Gordon Moore as keynote speaker. The party, to be held at the Moffett Field Officers' Club, will also include guided tours of The Computer Museum History Center's collection of computing artifacts. Dialing Up Dollars: Thursday Hambrecht & Quist kicks off its second Telecommunications Symposium, held in Laguna Niguel, Calif. Telecom powerhouses, Internet access companies and connectivity specialists alike will show off in typical meet-and-greet style. Whether you sit in on Motorola, Exodus or Conexant Systems management pitches, you will gain an understanding of the type of companies bringing the datacom and telecom networks together in the Internet age. MORNING NEWS, OVER EASY Unisys Claims Web Territory: Computer services supplier Unisys said on Wednesday that within three years, more than half of its revenues would come from the Web. The Internet move came as no surprise to Wall Street and failed to do much for the company's stock. Is it too late for the company to jump on the Web wagon? Unisys says no and emphasizes that the second wave of e-business involving complex transactions rather than marketing Web sites is just beginning. More Market Competition: Security and Exchange Commission Chairman Arthur Levitt told a Senate banking committee that proposals would soon be filed to give electronic communications networks (ECNs) access to the Intermarket Trading System, allowing ECNs to participate in all stock markets. Levitt said that it was time to remove anti-competitive rules and obstacles. Giving Big: Jim Clark was in the news again on Wednesday--this time not with a new startup. Stanford University announced that Clark donated $150 million to the university for a biomedical engineering initiative. The money will be used to build the James H. Clark Center for Biomedical Engineering and Sciences, and will provide money for faculty, equipment and graduate student fellowships. Clark was once a professor at Stanford. Time Machine: A mere one year ago, Global Crossing was scrappily putting together its Pan European Crossing by securing agreements with VersaTel Telecom Europe. VersaTel offered Global Crossing right of way in networks running through Amsterdam, France and Brussels. Global Crossing Founder Jack Scanlon was still CEO at the time, before hired AT&T guns burst on the startup's scene. Just then, the world wasn't his oyster... yet. Gateswatch: Wednesday was a slow day for Microsoft stock; the price fell by 1 1/2, leaving Bill Gates with only $71.5 billion. Maybe he can squeeze more wealth out of MSN travel site Expedia. The Internet travel agency set its IPO price at $10 to $12 each on Wednesday. Microsoft owns 33 million shares of Expedia and will have an 86.4 percent stake in the site when the company goes public. This will be Microsoft's first Internet IPO. Wendy Sharp is a freelance writer living in Northern California.