BRIEFCASE SMTEK APPOINTS PRESIDENT, CEO.Byline: - Staff and Wire Services MOORPARK - Electronics maker SMTEK International Inc. announced Tuesday that its board of directors has appointed Edward J. Smith as president and chief executive officer of the company. Smith previously served as vice president of business development. Prior to joining the company five months ago, Smith was a senior sales executive with Avnet Inc., an electronic components supplier. In addition, he has more than 20 years' experience in various managerial roles in the electronics sales and distribution industry. Burger Hamlets selling in 3 states IRVINE - Prandium Inc. announced Tuesday that it will sell its 14 Hamburger Hamlet restaurants in California, Maryland California is a census-designated place and community in St. Mary's County, Maryland, United States. The population was 9,307 at the 2000 census. California continues to grow with the spread of population out from the older adjacent community of Lexington Park and the growth in and Virginia to Los Angeles-based Latin Intellectual Properties Inc. for $15 million. LIP principal owner Brad Gluckstein holds a majority interest in the Conga Room. The sale will close July 24 or after. Vivendi reportedly faces cash crunch PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. - A spokesman for Vivendi Universal, a struggling media and utilities giant, denied a newspaper report Tuesday claiming that the company had a cash crunch. Le Monde n. 1. The world; a globe as an ensign of royalty. Le beau monde fashionable society. See Beau monde. Demi monde See Demimonde. reported that Vivendi went through a ``serious cash flow crisis'' at the end of 2001 with only 200,000 euros ($180,000) in its coffers. The report also said the company would face another cash crunch after it pays taxes, financial fees and makes a $900 million dividend payment to investors. The company's cash situation has been a recurring concern. Vivendi's share price has dropped 30 percent over the past three months, putting the company and its chief executive, Jean-Marie Messier Jean-Marie Messier (born December 13, 1956) is a French businessman who was Chairman and Chief Executive of the multinational media conglomerate Vivendi SA (formerly Vivendi Universal) until 2002. , under intense pressure to cut costs and reduce its debt. Napster CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. quits over failed buyout SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden - Napster's chief executive resigned Tuesday, after founders of the troubled song-swap company refused to be bought out by the German media conglomerate Bertelsmann AG Bertelsmann AG German media company. Beginning as a religious printer and publisher in 1835, the company grew steadily over the next century. Though virtually destroyed by Allied bombing in 1945, it recovered quickly after World War II. . Further cost-cutting moves were also announced. The company is rapidly running out of cash and might soon file for bankruptcy protection, according to a source close to Napster who spoke on condition of anonymity. The resignation of Konrad Hilbers, a Bertelsmann veteran, comes amid a long hiatus for Napster, which has vowed to come back online as a subscription-based music download service. SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. plans to slash 5,000 more jobs SAN ANTONIO, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. - SBC Communications Inc. said Tuesday that it will slash an additional 5,000 jobs, or about 2.6 percent of its work force, in the second quarter because the slow economy continues to curb its revenue. The cuts come atop the 10,000 positions already eliminated since last fall. The San Antonio-based telecom giant said the job reductions will be distributed throughout its 13-state service area among managers and nonmanagement workers who do not directly serve SBC's customers. Daewoo U.S. arm to file bankruptcy DETROIT - The U.S. arm of Daewoo Motor Co. will file for bankruptcy ``within days,'' according to a company official. Last month, General Motors Corp. said it would buy a stake in a new company that includes the assets of the bankrupt South Korean automaker Daewoo Motor Co. but not Daewoo Motor America, the company's U.S. distribution arm. Only 60 employees remain at the company's Compton headquarters. There had been as many as 300. Meanwhile a federal class-action lawsuit on behalf of approximately 300 U.S. Daewoo dealers against GM, Daewoo Motor and the Korea Development Bank Korea Development Bank (KDB), a wholly state-owned policy bank, was founded in 1954 in accordance with The Korea Development Bank Act for the purpose of financing and managing major industrial projects to expedite industrial development and enhance the national economy. will be filed ``in short order,'' according to an attorney representing them. |
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