1.
U.S. markets recover from steep losses
SCHAUMBURG, Ill., March 26 (UPI) -- Illinois-based Motorola Inc. announced Wednesday it would divide the company, splitting into Mobile Devices and Broadband and Mobility Solutions.
The split would create two publicly-traded companies and provide "flexibility, more tailored capital structures and increased management focus," Chief Executive Greg Brown said in a statement.
The move comes after months of pressure from investor Carl Icahn, who owns 6 percent of Motorola and has positioned himself to nominate four candidates for Motorola's board at the annual meeting in May.
The Fortune 100 company, with sales of $36.6 billion in 2007, has been struggling in recent years. A recent cut of 2,500 jobs left the company with 65,000 employees, down from a peak of 150,000 in 2000.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
