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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: TeamTi who wrote (11979)	8/11/2003 5:56:38 PM
From: TeamTi	Read Replies (1) \| Respond to of 19428

Re Theodore Roxford aka Lawrence Niren etplanet.com Valentine's Day note seeks Sony breakup Posted by etplanet on Wednesday, March 19 2003 at 7:17 PM EST It started out with a modest proposal to stage a leveraged buyout of Japanese electronics giant Sony, a task that would seem akin to a hostile takeover of Western Europe. Now, Theodore Roxford, a self-styled merger and acquisitions specialist whose background as a self-confessed corporate con man using the alias Lawrence Niren was detailed in a recent New York Times story, is back with a more humble goal: merely split Sony into seven independent companies.

To: TeamTi who wrote (11979)	8/20/2003 9:07:57 AM
From: RockyBalboa	Respond to of 19428

CWCI implosion. That must spell a cast on its owner, IIJI. They share offices, perhaps they share the BK judge soon. UPDATE - Japan's Crosswave seeks bankruptcy protection Wednesday August 20, 7:11 am ET (Adds details, company comments) TOKYO, Aug 20 (Reuters) - Nasdaq-listed Japanese broadband communications firm Crosswave Communications Inc (NasdaqNM:CWCI - News) said on Wednesday it had filed for protection from creditors in Japan with total group debts of 68.4 billion yen ($577 million). "As a result of severe price competition in the Japanese communications market and a depressed domestic economy, Crosswave has been unable to achieve profitability and has experienced increasing funding constraints," the company said in a statement. Crosswave was established in 1998 by Internet service provider Internet Initiative Japan Inc (IIJ) (NasdaqNM:IIJI - News), Sony Corp (Tokyo:6758.T - News) and Toyota Motor Corp (Tokyo:7203.T - News) to provide data communications services to customers in Japan. IIJ, which is owned by Itochu Corp (Tokyo:8001.T - News), Sumitomo Corp (Tokyo:8053.T - News) and NTT Communications, holds a 37.9 percent stake in Crosswave while Sony and Toyota each hold 23.9 percent. Crosswave fell into negative net worth in June when its liabilities exceeded assets by $10 million. The company said on Wednesday it had filed for bankruptcy protection as a way to continue to provide services and avoid the confusion that would result from the suspension of its services. "Through the reorganisation process, Crosswave hopes to obtain new funding to supplement Crosswave's existing capital and help it restructure its business operations," the statement said. A Crosswave spokesman said the company's fate rested with its court-appointed administrator, but he said he could not rule out the possibility of a rehabilitation under a private equity fund such as U.S. investment firm Ripplewood Holdings. Ripplewood, which has shown its interest in the Japanese telecoms industry, is expected to strike a $2 billion deal soon to buy the Japanese fixed-line operations of British telecom giant Vodafone Group (London:VOD.L - News). Crosswave reported a first quarter net loss of 3.45 billion yen ($29.11 million) on revenues of 4.97 billion yen ($41.9 million). BLOW TO IIJ IIJ, which is also listed on Nasdaq, said Crosswave's filing would have a serious impact on its financial position and operations. But it said it had no plans to seek judicial relief to protect its own assets. IIJ, whose president, Koichi Suzuki is also the head of Crosswave, is estimated to have lost 10.9 billion yen ($92 million) from its investment in Crosswave, including loans and loan guarantees, an IIJ spokesman said. He said the company would seek new funding to improve its financial condition. The impact on other shareholders is expected to be limited. Toyota, which holds $25 billion in cash, has poured a total 7.29 billion yen ($61.5 million) into Crosswave -- six billion yen at the time of establishment and 1.29 billion yen in loans later. "When we decided to invest in the venture, we were hoping to aid in the expansion of infrastructure for new data communications services," a Toyota spokesman said. "We deeply regret that it has come to this, but we are hoping for Crosswave's success in rehabilitation." Shares in Crosswave closed down 2.47 percent at $6.33 on Nasdaq on Tuesday. ($1=118.51 yen)

To: TeamTi who wrote (11979)	8/22/2003 10:32:47 AM
From: RockyBalboa	Respond to of 19428

CWCIQ... IIJI next? Pfft! UPDATE - NTT denies report to take 30% stake in IIJ Thursday August 21, 7:07 am ET (Recasts with comments from IIJ and NTT, background) TOKYO, Aug 21 (Reuters) - Japan's Nippon Telegraph and Telephone Corp (NTT) on Thursday denied a newspaper report that it may take a 30 percent stake in Internet service provider Internet Initiative Japan Inc (IIJ) (NasdaqNM:IIJI - News) for 10-20 billion yen ($85-169 million). "We are not in talks with IIJ and we have not received any request from IIJ for financial support," NTT (Tokyo:9432.T - News) said in a statement. But the telecoms giant said IIJ had asked its long-distance service unit, NTT Communications, for financial help. NTT Communications owns 5.6 percent of IIJ. Nasdaq-listed IIJ said it was in discussions with major shareholders and others on funding in order to improve its financial condition, but said nothing has been decided. In its evening edition, the Nihon Keizai Shimbun business daily quoted sources familiar with the matter as saying NTT is likely to purchase slightly more than a 30 percent stake to take a controlling interest in IIJ. The exact amount of NTT's investment would be decided after it examines the value of IIJ's assets and monitors its stock price, according to the report. The report came a day after IIJ affiliate Crosswave Communications Inc (NasdaqNM:CWCI - News) filed for protection from creditors in Japan with total group debts of 68.4 billion yen, highlighting the difficult market conditions facing data service companies. The failure was a blow for IIJ, which estimated it lost some 10.9 billion yen from its investment in Crosswave, a corporate data services company. IIJ president Koichi Suzuki is also the head of Crosswave. IIJ itself has been suffering from intensifying competition, falling into negative net worth of 2.8 billion yen at the end of the March under U.S. accounting rules. IIJ, established in 1992, is owned about seven percent each by trading companies Itochu Corp (Tokyo:8001.T - News) and Sumitomo Corp (Tokyo:8053.T - News). Last year, IIJ said it planned to merge with PoweredCom Inc, a telecom carrier affiliate of Tokyo Electric Power Co (Tokyo:9501.T - News), to compete with NTT, but the merger plan fell apart due to disagreement over leadership of the new firm. ($1=118.06 yen)

To: TeamTi who wrote (11979)	8/25/2003 9:38:02 AM
From: RockyBalboa	Respond to of 19428

IIJ Announces Retirement of Director Monday August 25, 4:10 am ET TOKYO--(BUSINESS WIRE)--Aug. 25, 2003--Internet Initiative Japan Inc. (IIJ, NASDAQ: IIJI), Japan's leading Internet access and comprehensive network solutions provider, announced the resignation of Mr. Akio Onishi from the Board of Directors, effective August 20, 2003, for personal reasons. About IIJ Founded in 1992, Internet Initiative Japan Inc. (IIJ, NASDAQ: IIJI) is Japan's leading Internet-access and comprehensive network solutions provider. The company has built one of the largest Internet backbone networks in Japan, and between Japan and the United States. IIJ and its group of companies provide total network solutions that mainly cater to high-end corporate customers. Services range from the delivery of new generation network services over an optical-fiber infrastructure that is optimized for data communications, to the construction of pan-Asian IP backbone networks. The company also offers high-quality systems integration and security services, internet access, hosting/housing, and content design. The statements within this release contain forward-looking statements about our future plans that involve risk and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Internet Initiative Japan Inc. and Crosswave Communications with the SEC, specifically the most recent reports on Forms 20-F and 6-K, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.

To: TeamTi who wrote (11979)	8/25/2003 9:38:38 AM
From: RockyBalboa	Respond to of 19428

Crosswave Announces Delisting from Nasdaq Stock Market Friday August 22, 5:46 am ET TOKYO--(BUSINESS WIRE)--Aug. 22, 2003--Crosswave Communications, Inc. (Crosswave, NASDAQ: CWCIQ) today announced that it received a notice from Nasdaq dated August 20, 2003, indicating that, based on Crosswave's recent announcement of filing a voluntary petitions for commencement of corporate reorganization and other factors, its securities would be delisted from The Nasdaq Stock Market at the opening of business on August 29, 2003.