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Wednesday, August 03, 2005

Online Casino News.com - All The Gambling, Sports and Casino News for the Internet Gambler

Online Casino News.com - All The Gambling, Sports and Casino News for the Internet Gambler: "The CEO of Cassava Enterprises, owner of online casino 888.com, is set to make $60 million when the company floats on the London Stock Exchange next month. This happens just several months after the world�s largest Internet poker company, PartyGaming, floated on the London Stock Exchange in June, awarding the board massive pay outs.

Cassava Enterprises� initial public offering (IPO) is expected to be worth over $1.5 billion, which in turn will provide an estimated $70 million in gross earnings. HSBC has been hired to counsel the Internet gambling operator on the matter in a hope to follow in PartyGaming�s footsteps."

Technology Research CEO Kendall Resigns - Forbes.com

Technology Research CEO Kendall Resigns - Forbes.com: "Technology Research CEO Kendall Resigns
08.02.2005, 10:25 AM

Technology Research Corp., a maker of electrical safety products, said Tuesday that Jerry T. Kendall has resigned from his positions as president, CEO and a director, effective immediately.

The company said Chairman Robert S. Wiggins has agreed to reassume the duties of CEO and president until a new chief executive has been hired.

Technology Research shares, which a year ago traded at a high of $8.55, fell 11 cents, or 2.6 percent, to a new 52-week low of $4.06 in morning trading on the Nasdaq. On Monday, the company reported a 57 percent drop in fiscal first-quarter earnings, as product mix and higher-than-expected costs hurt bottom-line results. "

heise online - Nokia CEO leaving as of June 01, 2006

heise online - Nokia CEO leaving as of June 01, 2006: "Nokia CEO leaving as of June 01, 2006
Nokia CEO Jorma Ollila, who has been at the helm for many years, is stepping down on June 1, 2006. The world's largest cell phone group announced today in Helsinki that he will be succeeded by the former director of the cell phone division and CFO, 52-year-old Olli-Pekka Kallasvuo. 54-year-old Ollila will be staying on the supervisory board at Nokia.
Nokia president Pekka Ala-Pietil� also took the occasion to announce his retirement effective February 01, 2006. He stated he was leaving for personal reasons. According to a Nokia press release, Kallasvuo will be appointed Chief Operating Officer and President on October 1 before becoming CEO. (Craig Morris) "

John H. Platts, retired Whirlpool chairman and CEO, dies at 88

John H. Platts, retired Whirlpool chairman and CEO, dies at 88: "John H. Platts, retired Whirlpool chairman and CEO, dies at 88
August 2, 2005, 5:39 PM
BENTON HARBOR, Mich. (AP) -- John H. Platts, Whirlpool Corp.'s chairman and chief executive from 1971-82, has died. He was 88. "

Platts died Tuesday. The cause and location of his death were not immediately available.

He guided the Benton Harbor-based appliance maker during a time in which it was facing increased foreign competition and the U.S. economy was struggling with higher oil prices and double-digit inflation, Whirlpool said in a news release.

"John steered us through some difficult times and expanded our production capacity to help position Whirlpool for future opportunities," said Jeff Fettig, the company's current chairman, president and CEO. "The Whirlpool of today, the global leader of the home appliance industry, owes a great deal of gratitude to John Platt's leadership."

Platts joined Whirlpool in 1941 at the company's St. Joseph Division as an assemblyman on the wringer-washer line. He quickly moved into management, eventually becoming manager of laundry sales to Sears, Roebuck & Co. before being promoted to general manager of the Evansville (Ind.) Division.

He was made a vice president in 1959 and, a year later, he became vice president of the refrigeration group. He became president and joined the board of directors in 1962, Whirlpool said.

Platts was president until becoming chairman and CEO in 1971. He remained on the board until 1988, six years after his retirement from Whirlpool.

Funeral arrangements were pending at Starks & Menchinger Family Funeral Home in St. Joseph.

The World Today - Telstra CEO pledges commitment to the bush

The World Today - Telstra CEO pledges commitment to the bush: "Telstra CEO pledges commitment to the bush"

ELEANOR HALL: After his straight talking speech in Lismore last night, Telstra's new boss Sol Trujillo has been out and about in regional Australia this lunchtime, discussing the state of telecommunications services in the bush.

Mr Trujillo announced that Telstra was considering a range of new technologies to assist country people. And he also fielded some questions about his comments last night in which he described the Federal Government's regulation of Telstra as belonging to the last century.

Lisa Millar is travelling with the Telstra boss and she joined me by mobile phone from a cattle station in Blackall.

ELEANOR HALL: So Lisa, Sol Trujillo's certainly been making waves since he started at the helm of Telstra.

What's he been saying to rural people today?

LISA MILLAR: Just giving the message really that he is committed to trying to assist people and he's interested in listening to their concerns.

We're on a property about 30 minutes out of Blackall, a cattle property, where there are probably a couple of dozen people who are talking to the Telstra boss at the moment.

He's looking at some new technologies, including using mobile phone technologies to turn on and off water pumps and to open gates and the like. He's looking at this new technology but is also (inaudible) of listening to people's concerns.

It certainly (inaudible) visit he's actually only going to have barely three hours on the ground at this cattle property before he heads off but he says that's enough time to get a sense of what people in the bush want to say to him.

ELEANOR HALL: Now, his speech last night was particularly explosive. What sort of reaction is he getting from people there in Blackall to that?

LISA MILLAR: Well, I guess people are surprised that he is not afraid to pick a fight with the Federal Government. It was one of the stronger speeches that anyone can remember from a Telstra CEO.

Most of it he's said in private before to senior ministers in the Federal Government but he's clearly determined to say it in public.

The fact that he's going to insert himself so firmly in the political debate has people wondering… not wanting to make a decision on what kind of term he might have, but rather to give him six to nine months. I think there is a sense of anticipation that they have someone here with some very strong views.

In fact the National Party State President, Queensland State President Bruce Scott was in the audience at the speech last night and the first he heard of Sol Trujillo's decision to back the trust fund was when he revealed it during his speech, and he was clearly pleased and surprised but there was certainly a sense of anticipation and people were pleased, wondering perhaps (inaudible) this person might have some answers for people in the bush.

ELEANOR HALL: Now Lisa, of course, you're on, presumably, a Telstra line there, it's a fairly ropey mobile line.

What's next on the agenda for Sol Trujillo? Is he being bombarded about services to the bush, improving those mobile services?

LISA MILLAR: Well, the Telstra people have been very proudly telling me how good the CDMA mobile is that I am using at the moment. So they won't be pleased to hear that it's ropey.

They will be talking to him about what kind of services they're getting here. He will head off to Brisbane this afternoon to meet with Telstra staff and to address a fairly large staff meeting away from the cameras before he meets with the Queensland Premier Peter Beattie for a short discussion this afternoon before flying back to Sydney.

ELEANOR HALL: Lisa Millar, thanks very much for that.

HoustonChronicle.com - Blockbuster CEO's warning puts a dent in stock price

HoustonChronicle.com - Blockbuster CEO's warning puts a dent in stock price: "Blockbuster CEO's warning puts a dent in stock price
Associated Press
DALLAS - The chief executive of Blockbuster warned Tuesday that the movie-rental company's second quarter was hurt by weak DVD releases that have cast doubt about the rest of the year. The company's shares plunged."

The warning by John Antioco in a presentation to Blockbuster investors came a week before Dallas-based Blockbuster, the largest U.S. movie-rental chain, is scheduled to release second-quarter financial results.

Blockbuster shares fell 53 cents, or 6.2 percent, to close at $8.09 in trading Tuesday on the New York Stock Exchange.

"Overall industry decline and continued poor theatrical performance had a negative impact on the second quarter and has created uncertainty about the balance of the year," Antioco said.

He said Blockbuster is "taking aggressive actions" in the second half of the year to cope with continued weakness in the rental industry.

Blockbuster has had a tumultuous year, capped by a successful proxy fight led by financier Carl Icahn, who criticized the company for spending too much. Icahn and two allies won seats on the board but retained Antioco as CEO and chairman.