Word: semiconductor
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LYON: The most interesting is Royal Philips Electronics. It has a major exposure to the semiconductor business and owns 50% of one of the largest LCD manufacturers. The flat-panel business is just exploding...
...FILED. A COMPLAINT to the World Trade Organization by the U.S. accusing China of unfair trade practices; in Geneva. The complaint was the first lodged against China since it joined the international trade body in 2001. The U.S. says that tax rebates China grants to domestic semiconductor makers give them an unfair pricing advantage over foreign chipmakers exporting their products to China...
Ultimately, even the most ambitious overhaul will not be enough to keep some types of manufacturing in the U.S. When the semiconductor industry moved to a different type of fabrication standard, Agere Systems found itself with 6,000 employees in the Lehigh Valley and an obsolete plant. Over the past three years, the $2 billion company has shifted its manufacturing to Florida and Singapore and reduced its head count in the valley to 2,500. Although Agere has made a commitment to keep its design and testing operations in the area, recently bringing 600 of those jobs to Allentown...
...DIED. EUGENE KLEINER, 80, engineer and Silicon Valley pioneer whose venture-capital firm helped establish Sun Microsystems, Compaq and Amazon.com; in Los Altos Hills, California. Kleiner, who fled his native Austria in 1938, co-founded Fairchild Semiconductor in 1957, which developed a technique for mass producing silicon transistors. Fifteen years later, he helped establish the venture-capital firm Kleiner, Perkins, Caufield & Byers, which gave seed money to more than 300 companies, including many tech powerhouses...
...world's two largest cell-phone makers are cleaning house. Motorola's Christopher Galvin, grandson of founder Paul Galvin, resigned as CEO in September after six years at the helm. The company then decided to dump its semiconductor arm. Then Helsinki-based Nokia shuffled top management positions, bringing in Rick Simonson as chief financial officer, the first Yank to crack Nokia's upper ranks...