Business Briefings

0 Comments | Oakland Tribune, May 31, 2003

HP tops IBM

Hewlett-Packard Co. was the top seller of server-computer systems in the first quarter, taking the lead held by IBM Corp. in the previous period, market researcher IDC said. Palo Alto-based Hewlett- Packard, the world's No. 2 computer maker, had first-quarter share of 27.9 percent based on revenue, down from 30.4 percent in the same period last year. IBM's share advanced to 25.5 percent from 23 percent. Sun Microsystems Inc. remained in third place as its share fell to 12.8 percent from 14.5 percent. Global revenue in the server industry dropped 3.6 percent last quarter to $10.5 billion, at least the fourth-consecutive decline.

NATION

WorldCom ranch sold

WorldCom Inc. has found a buyer for a Canadian ranch seized from its previous chief executive, Bernard J. Ebbers, in its bid to recover some of the more than $400 million he owed the company when ousted last year. The bankrupt telecommunications carrier expects to receive $68.5 million, roughly one-sixth of the total value of Ebbers' loan, through the sale of the Douglas Lake Ranch in British Columbia to E. Stanley Kroenke, the co-owner of the St. Louis Rams professional football franchise.

New Global bid

Carl Icahn's XO Communications Inc. offered to acquire all of bankrupt Global Crossing Ltd. in a bid it valued $700 million, rivaling Singapore Technologies Telemedia Pte.'s offer for the fiber- optic network operator. XO, a network operator that exited bankruptcy earlier this year, will be able to combine its operations with Global Crossing, Icahn said. He said Global Crossing creditors approached him to make an offer. XO, whose bid includes $250 million of cash, is the fourth company to express interest in Global Crossing, which filed for bankruptcy last year with more than $12 billion in debt after building a 100,000-mile fiber network.

Clarification

A story published Friday on a petition to modify state regulations on how ZIP codes are used in setting auto insurance premiums should have said the state Supreme Court declined to review an appellate court ruling upholding current regulations.

QUICKLY

Hayward-based Mervyn's, a department store chain owned by Target Corp., is launching a new apparel and accessories line featuring the cartoon character "Dora the Explorer" in collaboration with the Nickelodeon television network. 4 Hayward's Quantum Dot Corp. published an article in the journal Science in conjunction with Cornell Researchers about the use of quantum dot nanocrystals for deep tissue imaging in living animals. 4 Pleasanton's Invivo Corp. said it was found innocent of charges of age discrimination in a jury trial that concluded May 29 in Florida federal court.

4 Dublin-based SuperGen said it has had some success in clinical trials of Orathecin, a drug the company is developing for treatment of reistant pancreatic cancer.