Word: telecom
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Kleinfeld wasn't done with telecom though. He put the struggling telecommunications-equipment business into a joint venture with Nokia, creating Nokia Siemens Networks, the No. 2 manufacturer in its industry. The rationale was simple: in a rapidly globalizing telecom business, with distinctions between fixed line and wireless disappearing, Siemens had to get the scale to compete. "It's No. 2 from the start, and that's a big win," Kleinfeld told TIME. "We'll have a true opportunity to be one of the top players in the industry...
...host of big corruption cases," he says. For Siemens, the end of the bad news is far from over. As Kleinfeld was making his parting statements, the SEC launched an official investigation into the company. And Siemens conceded that the amount of money siphoned off for bribes at its telecom unit is probably much higher than the $570 million previously thought...
...authorities have thwarted Gates' subjugation of the PC software business in recent years, Mexico has done precious little to rein in ubiquitous business empires like Slim's - which today accounts for almost half the Mexican stock exchange's $370 billion value and controls a horde of industries ranging from telecom to tobacco. Forbes magazine, in fact, noted that Slim's holdings alone represent about 7% of Mexico's GDP - and that if Gates held a similar share of the U.S. economy, he would be worth $874 billion...
...respected figure and the son of a Lebanese immigrant, seems to be acknowledging the problem. He has accepted, for example, a rare move by Mexico's Federal Competition Commission to block Telmex from expanding into cable television until it allows all competitors to be smoothly hooked up to its telecom services. And he is lifting his charitable profile, announcing he'll pour $10 billion over the next four years into his health- and education-related Fundacion Carso. Business and philanthropy experts alike hope these developments will help prime the pump not only in Mexico but throughout Latin America, where economic...
...fluid corporate career marked by big leaps to disparate industries, Sue Parks' most fulfilling step sprang from a slower-paced hobby. Parks left her native Midwest to work in Southern California, rising swiftly to become a respected executive in the paper industry. In 1994, during the height of the telecom frenzy, she jumped to US West's Denver headquarters to run a $2.6 billion division. In 2000 computer maker Gateway lured her away to a similar position out of San Diego. And in 2002 Dallas-based Kinko's crowned her head of operations, the office-services company...