Schlumberger Selects Sprint for Enhance Wireless and Wireline

Sprint will deliver a multisite Frame Relay network to carry internal and external communications for SchlumbergerSema in the U.S. Under a three-year, multimillion-dollar contract, SchlumbergerSema is also using a system of wireless data Air Cards and Sprint PCS Vision data services to connect employees and data facilities across the country.
http://www.sprint.com

Read More

NTL selects Cable & Wireless for International IP Traffic

NTL selected Cable & Wireless to carry its international IP traffic. The UK cable operator currently has over 650,000 broadband customers. Cable & Wireless joins three other premium IP transit providers for NTL. Financial terms were not disclosed.
http://www.cw.com
http://www.ntl.com

Read More

Verizon Shareholders Limit Executive Severance Deals, Reject Executive Salary Caps

At its annual company meeting, Verizon shareholders voted 59% in favor of a resolution, which the company had opposed, requesting shareholder approval of executive severance agreements that provide benefits exceeding 2.99 times the sum of an executive's base salary plus bonus. However, only 18% voted in favor of a proposal to cap CEO compensation; just 13% favored a proposal to prohibit stock options; and only 21% were in favor of an indexed stock option proposal.


Verizon's CEO, Ivan Seidenberg, told shareholders that by focusing on basics, the company has been able to improve its competitive position in all segments of its business.http://investor.verizon.com/news/VZ/2003-04-23_X354176.html

Read More

Riverstone Networks Receives SEC Request

Riverstone Networks received a request from the Securities and Exchange Commission (SEC) for the voluntary production of certain information in connection with the company's accounting practices. The company has been informed that the SEC may open a formal investigation on the same topic. Riverstone said it intends to cooperate fully.
http://www.riverstonenet.com

Read More

Cedar Point Builds its Partner Program for Cable Telephony

Cedar Point Communications named seven new member companies in its partnership program for end-to-end cable telephony solutions: IP Unity, Lemur Networks, Liberate, Lucent Technologies, Tellabs, and Toshiba. Cedar Point previously had announced relationships with ADC, Alopa, ARRIS, Broadband Access Networking Group (BANG), Broadcom, C-COR, Ceon, Core Networks, Motorola and Terayon. Cedar Point's SAFARI C3 platform is based on CableLabs' PacketCable specifications.
http://www.cedarpointcom.com

Read More

SBC Shareowners Reject Proposal to Eliminate Executive Bonuses

At SBC Communications' annual company meeting, shareowners rejected a proposal to eliminate all bonuses and other incentive compensation for executives. The vote was 87% against the proposal. The following issues were also voted on by SBC shareowners:

• shareowners approved a proposal to require a shareholder vote on the adoption of any shareholder rights plans
• 
  
  shareowners rejected a proposal to require stock options and other stock-based compensation to be subject to performance "hurdles" or "indexing" features, that stock earned by executives be subject to undetermined holding periods and that executives be subject to downside financial risk
• 
  
  shareowners re-elected seven SBC board members to three-year terms: Gilbert F. Amelio, Clarence C. Barksdale, Martin K. Eby Jr., Charles F. Knight, Toni Rembe, Carlos Slim Helu, and Patricia P. Upton
• 
  
  shareowners ratified the re-appointment of Ernst & Young LLP as SBC's independent auditor
• 
  
  SBC chairman and CEO, Edward E. Whitacre Jr, told shareholders that the company is "fundamentally solid" and that growth in DSL and long distance give the company momentum

http://www.sbc.com

Read More