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BUSINESS
March 13, 1999
AT&T Corp. got clearance from the Justice Department to buy IBM Corp.'s global communications network for $5 billion, with no conditions attached. AT&T says it could receive $2.5 billion in additional revenue in the first full year of operating the network.
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BUSINESS
March 28, 1997 | JAMES F. PELTZ, TIMES STAFF WRITER
Closing one of the worst flops in corporate-merger history, Quaker Oats Co. agreed Thursday to sell Snapple Beverage Corp. to Triarc Cos. for $300 million, only 27 months after Quaker spent $1.7 billion to buy the maker of trendy drinks. The Quaker-Snapple fiasco joins such ill-fated business marriages as AT&T Corp. and computer maker NCR and General Electric Co. and defunct brokerage house Kidder, Peabody & Co.
BUSINESS
February 20, 2002 | KAREN KAPLAN and ELIZABETH DOUGLASS, TIMES STAFF WRITERS
When an economic slowdown last year threatened to produce a gap between Global Crossing Ltd.'s first-quarter sales figures and the numbers it had promised Wall Street, the ambitious telecommunications giant didn't want to disappoint. Global Crossing made the numbers, but now the company stands accused of using aggressive--and potentially fraudulent--accounting techniques to inflate its sales and earnings figures.
BUSINESS
July 1, 2005 | From Associated Press
AT&T Corp. shareholders approved the company's $16-billion acquisition by SBC Communications Inc., which would create one of the world's largest phone companies. The merger has won regulatory approval in 26 states and still needs OKs from 10 additional states and the federal government. If it is approved, closing is expected late this year or early next year.
MAGAZINE
January 12, 2003 | P.J. Huffstutter, Times staff writer P.J. Huffstutter last wrote for the magazine about the rise of Vivid Video Inc., the nation's leading porn producer.
During production of the 1997 movie "Mimic," American Humane Assn. representatives wandered through the Los Angeles set, ensuring that a herd of cockroaches was well taken care of. Licensed animal handlers were to follow state and federal anti-cruelty laws designed to protect the insects, which had been trained to swirl around actress Mira Sorvino's feet. The roaches had to be fed at a certain time. They could only work a few hours each day. They could not be harmed. At the same time, in studios in the San Fernando Valley, scores of other actors and actresses were working on movies.
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