August 3, 2010 |
Sidney Harman, founder of Harman International Industries Inc., agreed to buy Newsweek magazine from Washington Post Co., ending a three-month bidding process for the money-losing publication. The terms of the deal weren't disclosed. The sale will not have a material effect on Post, the company said in a statement Monday. Post will retain pension assets and liabilities and certain employee obligations. "In seeking a buyer for Newsweek, we wanted someone who feels as strongly as we do about the importance of quality journalism," Donald E. Graham, chairman and chief executive of Post, said in a statement.
January 1, 2011 |
The world's first mass-marketed electric car, the Nissan Leaf, boasts all of the safety features of a gasoline-powered model: air bags, anti-lock brakes, an impact-absorbing frame. There's one high-tech extra: a synthesizer that emits noise to alert pedestrians to the vehicle's approach. But it's not just any noise. Nissan Motor Co. spent years developing the Leaf's unique sound, which some listeners have described as a gentler version of an airplane taking off or the approach of a spaceship in a sci-fi movie . When backing up, the car pings like a sonar . What's clear is that the Leaf, which is just rolling into U.S. showrooms, sounds nothing like conventional cars.
March 2, 2011 |
Rajat Gupta's storied business career is a collection of gold-plated milestones: Harvard Business School, the top spot at consulting giant McKinsey & Co., seats on the boards of Goldman Sachs, Procter & Gamble and American Airlines. But the Securities and Exchange Commission said Tuesday that Gupta, 62, used his corporate board positions to supply confidential information to his friend Raj Rajaratnam, a hedge fund manager who is set to go on trial next week on insider trading allegations.
May 3, 1999 |
In a twist to the Victorian adage about well-behaved children, a British high-technology firm has developed a loudspeaker that can be heard, but not seen. NXT PLC says its transparent speakers--glass or plexiglass panels that emit sound through subtle vibrations--rival conventional speakers in quality.
March 26, 2003 |
Any day now, the U.S. government is expected to hand out the first in a series of construction contracts for the rebuilding of a pummeled, postwar Iraq. A far messier issue, though, is who is going to step up and rebuild the shattered economy of the whole Middle East. That the region is in desperate need of help is beyond question. The Arab countries of the Middle East contain 200 million people but not a single automobile assembly plant.
August 4, 2010 |
Sidney Harman, the stereo industry magnate who announced Monday that he was buying Newsweek magazine, has made a lot of money in his life. Harman, who turns 92 this week, told the staff at the ailing newsweekly that he was not all that interested in making more, at least from his new acquisition. "I'm not here to make money," he told them, according to a Newsweek published account. "I'm here to make joy." They could use some. Newsweek, which has about 325 employees, hasn't made a profit since 2007 and lost about $30 million last year.
July 7, 1996 |
OK, so Digital Equipment Corp. just announced plans to ax 7,000 jobs. And, sure, Nabisco Holdings Corp. said in late June that it will shed 4,200 positions. But the end of downsizing is at hand. Or at least it should be. So says UCLA management professor David Lewin, who notes that the undeniable upswing in demand for products and services means that companies will have to start courting new employees again.
July 26, 2002 |
Kathy Evsich learned the hard way that, as a victim of domestic violence, finding an ally in an employer was rare. She was fired twice because her employers wouldn't tolerate the hourly phone calls from her husband. Nor could they contend with his drive-by harassment, his threats to them or their fears that other employees could be harmed. But in November 1999, Evsich obtained a restraining order, found a job as a cashier and began building a nest egg so she and her two children could move away.
January 4, 1994 |
What do designer dog food dishes, fetal monitoring systems and Teddy Ruxpin have in common? A tiny industrial design firm based in Canoga Park, RKS Design. Founded in 1980 by former Xerox Corp. designer Ravi Sawhney, 37, RKS has worked for such big corporations as Rubbermaid Inc. and Sega of America, as well as entrepreneurs in fields ranging from health care to virtual-reality arcade games. With just $1.
February 1, 2001 |
Philip Morris Cos., the world's largest tobacco company, said fourth-quarter earnings rose 7.5%, helped by price increases on its cigarettes and income growth in its Kraft unit. Profit from operations at last year's top performer in the Dow Jones industrial average rose to $1.95 billion, or 87 cents a share, from $1.81 billion, or 77 cents, a year ago. Revenue edged up 1.6% to $19.39 billion.