- AT&T Performs Possibly the Largest Merger Deal of 2011
AT&T Inc. announced yesterday it was buying T-Mobile USA from Deutsche Telekom AG for a reported $39 billion in cash and stock, according to a news release from AT&T. The move will fuse together the second-and-fourth biggest wireless carriers into the country’s largest wireless service—trumping Verizon Wireless and Sprint Nextel Corp.
“This transaction delivers significant customer, shareowner and public benefits that are available at this level only from the combination of these two companies with complementary network technologies, spectrum positions and operations,” said Randall Stephenson, AT&T chairman and chief-executive-officer.
The moves are projected to involve thousands of job losses, but lead to an estimated $40 billion in cost cuts. The merger will add close to 46.5 million customers to AT&T.
- Crisis in Japan Affecting iPad 2 Production
The 8.9 magnitude earthquake and deadly tsunami that struck the northeastern section of Japan recently is causing an economic ripple effect seen primarily with tech goods, starting with the latest gadget out on the market—the iPad 2.
IHS iSuppli issued a report last Thursday that stated five key parts of the tablet made in Japan will be in short supply because of factory shutdowns. The specific iPad 2 components include: NAND flash drives from Toshiba; memory manufactured by Elpida; electronic compasses from AKM Semiconductor; glass used in the tablet’s touch screen that is linked to Asahi Glass Co.; and batteries from Apple factories in Japan.
“The aftermath of the Japanese earthquake may cause logistical disruptions and supply shortages in Apple Inc.’s iPad 2, which employs several components manufactured in the disaster-stricken country— including a hard-to-replace electronic compass, the battery and possibly the advanced technology glass in the display,” IHS iSuppli revealed to the Los Angeles Times.
- Wyclef Jean Shot in Haiti
The former Fugees member was shot in the hand in Haiti Saturday in the city of Delmas, right outside of Port-au-Prince, according to The Associated Press. Wyclef was hospitalized and released after being treated for his injury, which was reported to be only a graze.
- Survey Shows 88% of All African Americans Feel Discriminated Against on the Job
A survey taken last week at YourBlackWorld.com revealed 88.5% of African American respondents believe they have been the victim of racial discrimination on the job at some point in their careers, while 5.5% said they don’t feel they’ve ever been racially discriminated against on the job and a 6.1% claim they are unsure.