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Portland Press Herald from Portland, Maine • 19
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Portland Press Herald from Portland, Maine • 19

Location:
Portland, Maine
Issue Date:
Page:
19
Extracted Article Text (OCR)

NOVEMBER 9 1999 wwwmainebusinesscom DOW 1437 to 1071885 yggygg gggB gg' I gj: WB NASDAQ A 4168 to 31 4397 Microsoft stock weathers adverse ruling Monopoly decision opens door to more challenges By DAVID KAUSH The Associated Press NEW YORK A federal finding that Microsoft Corp is a bul lying high tech monopolist could trigger a fluny of fresh lawsuite give ammunition to the opponents in existing cases and embolden its technology rivals The finding is not legally binding until a final verdict is rendered which could be years But antitrust experts said Monday that even be fore an outcome is reached oppo nents in other suite are likely to use Please see LAWSUITS Page 4C Investors appear to be confident in the company but also snap up shares of some of its rivals By BRUCE MEYERSON The Associated Press NEW YORK Wall Street ruled far more favorably on Microsoft than the federal judge who branded the software maker a monopoly barely bruising the stock Mon day and driving the technology dominated Nasdaq market to anoth errecord But despite the apparent vote of confidence for Microsoft investors also scrambled to buy shares of rival companies that may benefit from late scathing antitrust rul ing against the software empire that made Bill Gates the richest man Microsoft added to the Dow Jones industrial average just a week ago fell almost 9 percent to $8350 a share at the start of Nasdaq trading but recovered to by the clos ing bell down just $162 for the day Actually that was even higher than where the stock was quoted in after hours dealing riday night af ter the federal court released its findings The Nasdaq composite index dominated by technology stocks in cluding Microsoft rose 4168 to 314397 the seventh closing record in a row The Dow finished slightly higher rising 1437 to 1071885 de spite the early drag from Microsoft Longtime Microsoft rivals Apple Computer and Sun Microsystems led the Nasdaq advance along with Red Hat a newer nemesis to the Microsoft Windows operating sys tem that runs most of the computers and was the focus of the antitrust case Apple whose user friendly Macin tosh computers helped sow the seeds for Windows jumped 9 per cent rising $806' a share to $9637'A Sun whose Unix system machines and Java programming language compete with Windows rose $218 Red Hat a young company that sells versions of the up and coming Please see MARKET Page 4C BRIE Merger moratorium With the Clinton administra blessing giant grain trader Cargill recently acquired the grain operations of one of its mqjor com petitors and the merger of two major manufacturers of farm trac tors was approved Now the Jus tice Department is being asked to approve a deal in which the largest pork processor would take over its nearest competitor Enough critics say The Senate is to vote this week on a proposed 18 month moratorium on agribusi ness mergers Communications deal Arch Communications Group Inc the second largest indepen dent provider of paging and wire less messaging services in the United States agreed Monday to buy Paging Network Inc the na second largest provider Dollar mixed The dollar gained ground Mon day against the euro and the Brit ish pound but fell against the Japa nese yen in foreign exchange dealings In late New York trading the eu ro fell to $10386 from $10419 late riday The dollar rose against the British pound which edged down to $16192 from $16202 late riday The US currency fell to 10519 Japanese yen from 10648 yen late riday The dollar was also quoted at 14702 Canadian dollars up from 14672 rom news services reports COMPANY CONNECTIONS CASE Wright Express of South Portland has formed a co brand re lationship with United Motor coach Association to provide a fu el services program for all UMA members UMA is North largest association of professional bus and motorcoach companies Wright Express is a provider of information management pay ment processing and financial ser vices to car van and truck ImageSet and Russell rench Studios both of Portland have formed a partnership to help cata log clients lower their production costs and get their products to market more quickly ImageSet has coupled its strength in color scanning and image correction ca pabilities with the photographic talents of Russell rench Studios to produce high quality digital pho tography To submit an item about your company or organization mail the information to: businesspressheraldcom Staff phouts by Crdim (bibroski Sally Wigon presides over the small office supply store on ree Street in Portland that was started by her lather Joseph in 1932 we Y2K ready? Yes We have a computer very Sally Wigon owner frahjlj Joe Wigon office supply store 1 a 1 1 ar THE OLD WAY The Wigon 'office supply store in Portland succeeds by being proudly low tech and traditional or any of the dotcoms that are plunging into the office supply market? Not in the least for the big she said with a dis missive wave even know time and tries to give customers the personal service she feels the superstores can match Wigon has seen Wal Mart Home Depot and the other national chains roll over smaller lo cally owned stores but she is convinced it By EDWARD MURPHY Staff Writer ally Wigon concerned that com puter problems will bedevil her downtown Portland office supply store early next year we Y2K ready? she said have a computer veiy response reflects her attitude and her store precise direct and a bit defiant The reverse is likely true as well store on ree Street was started by her father in 1932 She took over when he died in 1951 probably too small to make a blip on the radar screens of the big stores and just fine with Wigon Wigon said sales continue to grow for her and her three employees The store stocks only office staples pardon the expression from paper to pens and manila folders Wigon sells a few computer supplies such as ink for printers but has no interest in peddling com puters printers or any office machines for thatmatter happen to her retuse to let that upset she said just go on and Wigon said she runs her business the way her father Joseph ran it nearly 70 years ago He was strict and kept it all business in the store was my boss I called him Mr Wigon in the store and I did what I was she said I took one minute longer for lunch hour he was there tapping on his Wigon still displays photographs of her mother and father on the wall of the narrow store across from her metal desk where she Is she worried that her small ree Street store will get run over by Staples OfficeMax She keeps the books the old fashioned way in a ledger is proud that her bills are paid on Please see WIGON Page 8C Talk America plans to pay debt But when creditors will be reimbursed depends on the bankrupt future success By CLARKE CANIELD Staffwriter Talk America intends to pay back its creditors 100 percent of what they are owed under a bankruptcy reorganization plan the company filed Monday According to the plan Talk America will pay back its creditors from its future revenues said Rob ert Keach the attorney for Talk America If the company achieves its sales goals everybody will be paid by the end of the summer of 2004 The filing of the plan is a signifi cant step in Talk efforts to reorganize itself and pay off its creditors The plan could be con firmed by the court in the next 60 to 90 days and Talk America could be paying back creditors as soon as next March The gist of the plan is for Talk America to put aside 25 percent of its future adjusted revenues into two accounts Sixty five percent of the designated revenues would go into a fluid to pay individuals who bought Talk America products in the past and are seeking refunds Thirty five percent would go into a separate fond to pay businesses that Talk America owes money of these funds are depen dent on the future revenues of the Keach said we do well creditors will do very Jonathan Yellin a Boston attor ney who has been the lead counselon the court committee represent "ing unsecured creditors said could not comment on the plan un til he had discussed it with the seven person committee He planned to talk to committee mem bers in a telephone conference call later this week Talk America filed for protection from creditors in May under Chap ter 11 of the US Bankruptcy Code In so doing it was able to stay in business while it reorganizes its debts with creditors under the su pervision of the US Bankruptcy Court In court documents Talk Ameri ca said it owes about $13 million to Please see TALK Page 4C PORT ARRIVING Diana Liberia this evening with crude oil for Portland Pipe line Bona Liberia 11:15 am today with crude oil for Portland Pipe Line Patricia Liberia 8:20 am today with diesel for Northeast Petroleum Kriti Amethyst Greece 9 pm Monday with gasoline for Motiva Enter prises Source: Portland Pilots office and US Coast Giidrtl Marine Sajety Office PoAltnd PORTLAND Coalition urges questioning of Anthem before takeover Keeping coverage affordable The Associated Press statewide coalition of for profit Anthem Insurance Cos three primaryareas of concern: Inc thid nonprofit Blue Cross Maintaining quality of service Please ire ANTHEM Page Now is the time to ask tough ques tions about the proposed takeover of Blue Cross and Blue Shield of Maine a new says? More than 70 individuals and groups organize to raise concerns about the merger with Blue Cross Consumers for Affordable Health Care on Monday announced the for i mation of a larger group of individu i als and organizations who are con 1 cemed about the proposed merger want the public to be aware and feel that they can have an im for individuals and small groups said Carol Keliv an orcamzer will Anthem make coverage affordable for families like she asked Others wondered about costs for small businesses and cov erage of prescription drugs and ex perimental treatments Anthem has offered to buy members identified was forced out by coverage costs Blue Cross for $120 million that soared from $768 to $1100 a month Maintaining or expanding pro of the new Coalition to Protect the vidernetworksespeciallyinunders Public Trust in Health Care erved rural areas our nonprofit insurer of last resort is 1 ormer Blue Cross subscriber not going to happen again We need Deborah Klane of airfield who has to make sure we do this a seriously disabled son said she Coalition i CASE CONNECTIONS PORTLAND.

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Years Available:
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