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Date: Wednesday, February 23, 2000, 11:29 AM -0500
From: Faulkner Mail Server <mailserver@faulknerinfo.com>
To: ???
Subject: Faulkner Com Flash 02/22/2000 - (Part 1 of 3)

TOP OF THE NEWS

	 * Teligent, Mannesmann Form Joint Venture	
	 * BCE Buys Teleglobe 	   
	 * Lucent Acquires Ortel for $3 Billion	
	 * Rogers, Videotron in $4.2 Billion Merger Deal	 

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Agreements/Joint Ventures 
	 America Online and Travelocity.com entered into a multi-year,
	 multi-million dollar alliance through which Travelocity.com will become
the exclusive reservations engine integrated into the AOL service, AOL.COM,
CompuServe, Digital City, and Netscape. The deal is valued at up to $200
million. AOL Europe said it will join top mobile phone companies Nokia and
	 Ericsson to take advantage of the revolution in mobile internet access
technologies. The company is planning to pursue similar agreements in the
future. AT&T chose iGo as one of its first electronic distributors of the
	 Digital One Rate plan for wireless phone service. Customers can now order
a digital multi-network wireless phone from iGo's Web site or can call to
sign up for AT&T's Digital One Rate plan. iGo will perform all necessary
pre-qualifications for the service.
	 Also, Deutsche Telekom unveiled plans to form an Internet alliance with
Commerzbank. Commerzbank will team up with T-Online, DT's Internet arm, to
jointly bring banking services to customers over the Internet. T-Online will
receive a 25 percent stake in Comdirect, Commerzbank's online brokerage
unit, and Commerzbank will receive an equity stake in T-Online when it
commences its IPO this spring.
	 In other news, Deutsche Telekom said that its mobile division, T-Mobile,
and its Internet unit, T-Online, formed a joint venture to offer wireless
Internet services. The new company will establish a Web portal for mobile
users. Ericsson and Mannesmann signed a $300 million contract for new GSM
equipment to improve Mannesmann's infrastructure and increase its current
capacity.
	 Mannesmann backed out of Xfera, a consortium of companies bidding of a
	 UMTS wireless license in Spain. Mannesmann agreed to merge with Vodafone
AirTouch, which holds a stake in Airtel. Airtel is likely to win one of the
four UMTS licenses being sold in Spain. In related news, Mannesmann handed
over its seven-percent stake in consortium to Orange.
	 Nokia joined forces with credit card giant Visa International to provide
mobile users with payment solutions for mobile e-commerce. The deal included
the development initiatives for payment alternatives as well as joint market
development efforts.
	 Oracle's Business OnLine application hosting service will team with BT and
Bell Canada to provide outsourced applications in the UK and Canada. The
company also signed deals with 10 systems integrators to help market the
outsourced apps to small and mid-sized businesses. Further clarifying
Oracle's app hosting plans, chief Larry Ellison stated that the company
would offer only a limited portion of its software to other ASPs.
	 PSINet formed an agreement to provide wholesale Internet connectivity to
NetZero. NetZero will use PSINet's IP-optimized network to provide dial-up
access to its subscribers throughout the United States.
	 Telefonica and Banco Bilbao Vizcaya (BBVA) formed a joint venture to
develop e-commerce services. As part of the strategic alliance, Telefonica
will acquire a three-percent stake in BBVA, and the bank will acquire
another two percent in the telco, raising its stake to 10 percent.
Telefonica Chairman Juan Villalonga will become deputy chairman of BBVA.
	 Telia and Oracle agreed to form a joint venture to offer Internet services
via mobile devices. The new company will be based in Sweden and it will
expand upon existing wireless Internet joint ventures between the two
companies. The venture will leverage Oracle's Portal-to-Go platform.
	 Teligent and Mannesmann Arcor, a subsidiary of Mannesmann, agreed to form
	 a joint venture that will offer fixed-wireless telecommunications services
across Germany. Mannesmann Arcor will own a majority 55-percent stake in the
venture, with Teligent holding the remaining 45 percent. The ventures' board
of directors will comprise three members from Arcor and two from Teligent.
The two companies will pool the operating licenses they already own, which
will allow the joint venture to reach more than one million businesses.
Mannesmann Arcor plans to apply for additional licenses. Teligent said this
partnership is part of its international expansion strategy.
	 Toshiba is looking to begin talks with AOL and Time Warner to create an
arrangement in which Toshiba would offer AOL and Time Warner's services in
Japan through the Internet.

Broadband/Cable Networking 
	 Cabletron Systems introduced the SmartSwitch 1500 IAD, which delivers ATM
connectivity over a WAN as well as data, video, and voice integration. Via
Inverse Multiplexing over ATM, the 1500 supports speeds beyond DS-1/E1. The
offering is designed for use by service providers such as CLECs.
	 Pacific Bell, a subsidiary of SBC Communications, rolled out Pacific Bell
DSL in 22 California communities. The deployment is part of SBC's $6 billion
Project Pronto initiative to create a platform for broadband-powered
services. To promote its DSL service, PacBell is bundling Internet service
and DSL Internet service for $39.95 a month with free equipment and
installation.
	 SBC Communications announced a new pricing scheme for its DSL service
	 that, when combined with its huge footprint, could begin a price slashing
sprint. The company plans to lower the price of its DSL services to $39.95
per month, a $10 decrease. SBC said this price will include the cost of
connecting to an ISP, something most DSL providers cannot offer. The company
said it also will begin waiving the price for the equipment necessary for
the broadband service, and it will install that equipment for free. SBC's
equipment and installation costs can often run as high as about $300.
	 Siemens ICN introduced its Enterprise Convergence Architecture, called
HiPath, based on open standards and distributed architectures. It is a
complete IP-based enterprise solutions portfolio that includes information
and communication infrastructure solutions, collaboration and messaging
solutions, customer interaction solutions, business interaction solutions as
well as personal mobility. The HiPath supports communications over
circuit-switched TDM and packer or cell switched IP and ATM either as a
single or mixed network. The architecture supports all Siemens communication
products and applications--past and present--,non-Siemens PBX's, and all I
and C network infrastructure/components from selected manufactures and
partners. Time Warner Telecom is expanding its network into between eight
	 and 10 new markets over the next two years in response to customer demand
for local bandwidth. The company expects to complete $400 million in
financing by April, which will allow it to accelerate expansion into
Atlanta, Georgia; Chicago, Illinois; Minneapolis, Minnesota; Syracuse, New
York; and Columbia, South Carolina. TW Telecom plans to complete expansion
into Los Angeles, California; Fayetteville, North Carolina; and Dayton,
Ohio by mid-year.

Carriers and Carrier Services 
	 In a letter to its employees' unions, Ameritech announced that it is ready
to hang up on its pay phone business. The company is ready to sell the
business, which operates about 75 percent of the pay phones in the Illinois
market, because it cannot compete with the lucrative wireless market. Parent
company SBC Communications said it is considering options for all of the pay
phones that it and its subsidiaries operate. If the sale takes effect, as
many as 500 Ameritech workers in the Midwest could loose their jobs.
	 GTE announced plans to invest $450 million in Argentina and roll out long
distance telephone operations in the country next month. GTE will use the
investment to build up PCS wireless operations in Buenos Aires by way of GTE
PCS, which is used in the transmission of traditional long distance calls.
The joint venture between GTE and Grupo Clarin, called Compania de
Telecommunicaciones Integrales, plans to begin offering long distance
services in March. Additionally, GTE will offer long distance services
through its 58 percent-owned CTI Movil, which operates in the northern and
southern portions of Argentina. The long distance market was opened to
competition last October and the government wll allow more players to enter
the ring this November. At that time, consumers will be able to choose a
long distance operator each time they make a phone call.
	 Telia is doing away with its long distance rates in favor of one rate for
calls made to any destination in Sweden. Calls will cost SEK 0.23 per minute
in the day and SEK 0.115 per minute during nights and weekends. This new
rate undercuts the previous long distance rates, which charged SEK 0.38 per
minute in the day and SEK 0.20 per minute during nights and weekends, by up
to 40 percent. Also, the company is slashing the rate it charges for calls
made from fixed-line phones to wireless ones by 16 percent.

Financial News 
	 American Mobile Satellite reported total revenues for the fourth quarter
1999 of $25 million, down 32 percent from figures reported for the same
quarter a year earlier. Net loss for the quarter was $179.4 million, or a
loss of $3.70 per share, compared to 1998's fourth quarter net loss of $40.8
million, or a $1.27 loss per share. For the year, the company's total
revenue reached $91.07 million, an increase of 4.4 percent over 1998
results. Annual net loss was $330.9 million, or a $8.33 loss per share,
compared to a $150.6 net loss, or a loss of $4.94 per share.
	 AT&T Wireless Services' fourth quarter 1999 revenue increased 41.6 percent
to $2.1 billion. Operational EBITDA, excluding other income, increased 18.4
percent to $234 million. For the year, revenue increased 41.1 percent to
$7.63 billion. Annual operational EBITDA was up 23.4 percent to $1.17
billion. AT&T Canada announced that revenues for the fourth quarter
	 increased almost tenfold from $35 million to $347 million. Net income was
$95.2 million, $1.02 loss per share, compared to $76.6 million, or $0.84
per share. For the year, the company said revenues were $866.7 million,
compared to $76.2 million. Net loss was $5.3 million, or $0.86 per share,
compared to $212.8 million, or $3.02 per share.
	 For the fiscal year 1999, Cablevision Systems' condensed consolidated
revenues increased to $3.9 billion from $3.2 billion for 1998. Net loss for
the year was $800 million, or a loss of $5.12 per diluted share, compared to
a net loss of $449 million, or a loss of $3.16 per diluted share, fore the
same period last year. For the three months ended December 31, 1999,
revenues increased to $1.2 billion from $977 million for the same quarter in
1998. Net loss for the quarter was $216 million, or a per-share loss of
$1.27, compared to a net loss of $185 million, or a per-share loss of $1.22.
	 Charter Communications began trading on the Nasdaq National Market on the
American Stock Exchange on February 16, 2000. The company trades under the
symbol "CHTR."
	 Cisco Systems reported its second quarter results for the period ending
January 29, 2000. Revenues for the second quarter of fiscal 2000 were $4.35
billion. Net income for the quarter was $825 million or $0.23 per share.
Cisco's board of directors authorized the splitting of the company's common
stock on a two-for-one basis for shareholders of record on February 22,
2000. Shares resulting from the split are expected to be distributed by the
transfer agent on March 22, 2000. This action will be the ninth time that
Cisco's stock has been split since the company's initial public offering in
February 1990.
	 For the fourth quarter, Cox Communications' consolidated revenues were
	 $722 million, a 48 percent increase over the same quarter in 1998. Net
income dropped 64 percent to $113 million, or $0.18 per diluted share, from
$318 million, or $0.57 per diluted share. For the fiscal year ended
December 31, 1999, consolidated revenues increased 35 percent to $2.3
billion from $1.7 billion for fiscal 1998. Net income fell 31 percent for
the year to $882 million, or $1.51 per diluted share, from $1.3 billion, or
$2.30 per diluted share.
	 DIGEX, a subsidiary of Intermedia Communications, reported that revenues
for the fourth quarter increased 178 percent over results from the same
quarter the previous year to $21.7 million. For the year, revenues increased
164 percent to $59.8 million.
	 ECI Telecom reported fourth quarter and year-end results for its 1999
fiscal year. Revenues for the fourth quarter were $287.6 million, compared
to $202.4 million a year ago. Net income was $56 million, or $0.61 per
share, compared to $46.8 million, or $0.59 per share, last year. Revenues
for the year were $1.1 billion, compared to $745.7 million in 1998. Net
income was $102.5 million, or $1.11 per share, compared to $156.1 million,
or $1.97 per share, in 1998. Results for the fourth quarter and year-end
1999 include costs connected with the discontinuation of several ECI Telecom
operations.
	 Embratel reported that revenues for 1999 rose 93 percent over results in
1998 to 5.2 billion reais. The company said sales from Internet and data
services helped fuel this increase; revenues from such services rose 42
percent. Net profit was 411.6 million reais, compared to 213 million reais
in 1998.
	 NTL said it will issue $1.85 billion in preferred stock in order to help
the company pay for acquisitions outside France. France Telecom will be able
to convert the stock after six months into a yet-to-be-formed company that
will own NTL's broadband European interests outside France.
	 Global Crossing reported revenues for the fourth quarter were $1.1 billion
with a recurring net income of $125 million, or $0.20 per share. Revenues
are up from 1998's fourth quarter totals of $203 million with a loss of $52
million, or $0.12 per share. Fiscal year 1999 revenues were $1.7 billion,
excluding the company's acquisitions. Pro forma revenues, including
acquisitions, were $4.1 billion compared to $420 million in 1998. Recurring
net income was $250 million, or $.50 per share, versus $59 million, or $0.16
per share.
	 For the third quarter, ending December, 31, 1999, Infonet reported that
revenues increased 99 percent over results from the same quarter a year ago
to $154.7 million. Of these, revenues from other communications services
increased 283 percent to $57.2 million. Also, revenues from network services
rose 47 percent to $56.2 million; consulting, integration, and provisioning
rose 71 percent to $36 million; and application services increased 43
percent to $4.3 million. Net loss was $22.5 million, or 0.52 loss per share,
compared to a net gain of $45,000, a gain of $0.0001 per share.
	 Intermedia Communications reported that revenues for the fourth quarter
increased 29 percent over results from the same quarter a year ago to $248.8
million. Of these, revenues from local access and voice services increased
11 percent to $107 million; data, Internet, and Web hosting services rose 38
percent to $104.6 million; and integration services increased 58 percent to
$37.1 million. Net loss was $185.2 million, $4.05 loss per share, compared
to $117.1 million, $2.87 loss per share. Revenues rose 27 percent to $906
million. Of these, revenues from local access and voice services increased
18 percent to $414.2 million; data, Internet, and Web hosting services rose
42 percent to $361.5 million; and integration services increased 29 percent
to $130.3 million. Net loss was $558.4 million, or $12.91 loss per share,
compared to $487.2 million, or $13.23 loss per share.
	 In order to allow struggling satellite communications company Iridium to
continue operations, a group of investors lead by Craig McCaw will provide
nearly $75 million in funding to support the company after its current
short-term funding runs out on February 15. The investment is what is known
as debtor-in-possession financing.
	 Loral Space & Communications plans to invest $3.5 billion in its broadband
business. The company intends to spend $3 billion on its consumer broadband
services business and $500 million on its streaming media services business.
	 In addition, Loral Space & Communication reported fourth quarter 1999
revenues of $426.2 million, down nearly 10 percent from figures recorded a
year earlier. Net loss for the quarter was $112.9 million, or a loss of
$0.42 per share, compared to 1998's fourth quarter net loss of $201.9, or a
per share loss of $0.85. For the year, revenues were $1.48 billion, up
nearly 12 percent from 1998 figures. Annual net loss was $201.9 million, or
a loss of $0.85 per share, compared to a net loss of $138.8 million, or a
$0.68 loss per share.
	 Mannesmann said that CEO Klaus Esser will receive $30.46 million once he
leaves the company, which will occur after the merger with Vodafone AirTouch
is completed. Mannesmann will pay Esser for the remainder of his contract,
which expires in 2004.
	 MCI WorldCom's fourth quarter profits nearly tripled due to its data,
Internet, and international operations. The company profits were $1.2
billion, or $.42 per share. Revenues for the fourth quarter 1999 were $9.6
billion, up from $9.1 billion in 1998. Net income totaled $1.3 billion, or
$.44 per share, up from $443 million, or $.15 per share. MCI WorldCom
expects its revenues to increase around 13.5 percent over the next year.
	 NorthPoint Communications reported that revenues for the fourth quarter
were $11.6 million, compared to $531,000 for the same quarter in 1998. Net
loss was $76 million, compared to a net loss of $15.9 million. For 1999,
revenues were $21.1 million, compared to $931,000 in 1998. Net loss was
$183.7 million, compared to $28.8 million.
	 PairGain Technologies reported fourth quarter 1999 revenues of $51.6
million, compared to $60.7 million a year ago. Net income was $1.3 million,
or $0.02 per share, compared to $3.6 million, or $0.05 per share, last year.
The company's revenues for its 1999 fiscal year were $224.9 million,
compared to $283.1 million in 1998. Net income was $2.4 million, or $0.03
per share. This compares to $39.5 million, or $0.53 per share, for 1998.
	 For the fourth quarter, PictureTel's revenues dropped to $82.3 million
	 from $98.5 million for the same quarter in 1998. Net loss for the quarter
was $16.2 million, or a loss of $0.40 per diluted share, compared to a net
loss of $48.5 million, or a per-share loss of $1.23 diluted. <p> For the
1999 fiscal year, revenues were $323.3 million versus $406.2 million for
1998. Net loss increased to $84.5 million, or a loss of $2.23 per diluted
share, from a net loss of $55.7 million, or a per-share loss of $1.45
diluted. PRIMUS Telecommunications reported that revenues for the fourth
	 quarter rose 111 percent over results from the same quarter a year ago to
$266 million. Of these revenues, data and Internet revenues rose 306
percent to $12 million.
	 RCN reported that revenues for the fourth quarter increased five percent
over results from the previous quarter to $89.5 million. Net loss was $131.7
million, or $1.78 per share, compared to $91.8 million, or $1.26 per share.
For 1999, total revenues rose 37 percent to $335.8 million. Net loss for the
year was $355 million, or $5.12 per share, compared to $205.4 million, or
$3.36 per share.
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Missy Harvey
Computer Science Librarian
Engineering & Science Library
Carnegie Mellon University
Pittsburgh, PA  15213

http://www.library.cmu.edu/usr/missy/

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