Monday, March 28, 2011
The Kill Team | Roll
Consumers may be los
Consumers may be losers in an AT&T merger with T-Mobile - CSMonitor.com
It’s no secret that the mobile Internet – smart cellphones and tablets – is a hothouse blossoming with innovation. Every day these devices become more useful (some argue “essential”).
The wireless future isn’t largely about voice calls: It’s about reading (books, newspapers, magazines), shopping, and staying in touch with social networks. Coming soon will be communicating with other devices (such as a car) and even replacing a credit card to make on-the-spot retail purchases.
That’s why federal regulators must take a long, thoughtful look at the proposed merger of wireless carriers AT&T and T-Mobile proposed last week. The merger could threaten the very competition that has benefited consumers and created new opportunities for countless startup companies.
After absorbing T-Mobile, now owned by Deutsche Telekom, AT&T would become the largest cellphone carrier in the US with nearly 40 percent of the market. The current No. 1 carrier, Verizon Wireless, would drop to No. 2 with just over 30 percent.
Specialty Retailer Harry & David Files For Bankruptcy Protection - WSJ.com
Harry & David Holdings Inc., the specialty gourmet fruit retailer known for its gift baskets, has filed for Chapter 11 bankruptcy protection.
Burdened by nearly $200 million in short- and long-term obligations, Harry & David has been battered in the recession, with customers cutting back on luxury items like gift baskets of fruits and snacks. The retailer, which recently breached terms on a revolving credit line and skipped an interest payment due bondholders, had been working with creditors on a plan to restructure, and The Wall Street Journal had reported over the weekend that a bankruptcy filing was imminent.
Harry & David posted weak holiday results that left it unable to borrow money under the terms of its revolving credit line. The inability to borrow meant Harry & David couldn't continue to adequately fund operations or make looming debt payments. In a regulatory filing, the company had raised doubt about its ability to continue as a going concern.