BUSINESS NOTES.INTEL, MICROSOFT ENDORSE `DUMB' COMPUTERS: Intel, the biggest maker of microprocessor chips, and Microsoft, the No. 1 PC software maker, said Wednesday that they developed a set of common technical standards to help manufacturers build the so-called ``Net PCs.'' The computers, expected to go on sale this summer, are cheaper for businesses to maintain than personal computers because they would download software via the Internet. The Intel-Microsoft initiative to sell pared-down computers may seem incongruous with their goals to get people to buy increasingly sophisticated products stuffed with their latest technology. But the aim is to protect against rivals' encroachments: Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. Inc. is promoting far more bare-bones computers to cut corporate computing costs. MASTERCARD 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. RESIGNS: In a surprise move, H. Eugene Lockhart Eugene Lockhart, Jr. (born March 8, 1961 in Crockett, Texas) is a former American football linebacker who played for nine seasons in the National Football League from 1984 to 1992. He played college football for the University of Houston. resigned Wednesday to take a newly created post as president of BankAmerica Corp.'s global retail bank. For the first time in its 30 years of existence, MasterCard elevated an insider, Robert Selander Robert W. Selander is president and chief executive officer of MasterCard since the early 1990s. Before that he spent 20 years with Citibank where he developed their global branch network and managed Citibank’s Diners Club International credit card business throughout the United , to head the company. Selander, 46, had been president of MasterCard's operations in Canada, Europe, the Middle East and Africa Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes. It is particularly common amongst North American based companies, who often divide their international operations into the . INSURANCE BROKERS MERGE: Marsh & McLennan Cos. agreed to buy privately owned Johnson & Higgins for $1.8 billion in cash and stock in a deal that would reinstate Marsh as the world's biggest insurance broker. The announcement Wednesday marks a further consolidation in the insurance brokerage business, which is in a slump. Premiums, which form the basis for brokerage commissions, have softened, and investors have become increasingly interested in buying investment products rather than insurance. AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. SUED FOR BAD STOCK PRICES: Ben Ezra Ben Ezra: see Ibn Ezra, Abraham ben Meir. Weinstein and Co. said it sued America Online Inc. for reporting inaccurate stock prices on its network. The Albuquerque, New Mexico-based company alleged AOL did nothing to correct a software error that showed its stock price at one-tenth its true value, while multiplying the number of shares traded, even after repeated phone calls. It said AOL knew a problem existed for weeks. |
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