Japanese trot out a system to play the horses without leaving home
Article Abstract:
An interactive home-video gambling system being marketed by Mitsubishi Corp will soon allow 16 million Japanese households with Nintendo Entertainment Systems to bet on horse and bicycle races from their living rooms. Mitsubishi and Nintendo Company Ltd., which sells its own remote transaction system, expect home gambling will be even more popular than their personal investment systems, used on 100,000 Nintendo sets in Japanese homes to trade stocks. Small investors have doubts about the fairness of Japanese stock trading and perceive races to be more honest. Mitsubishi predicts that its 20,000-yen home gambling package, developed by Micro Core Inc, will reach 10,000 homes within three months of its Nov 1991 introduction, and 50,000 more homes in 1992.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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Iomega CEO, Edwards, quits in wake of poor sales; company had announced loss for current quarter may exceed $25 million
Article Abstract:
Kim B. Edwards of Iomega has resigned as CEO in light of recent financial setbacks at the company. Iomega has reported its quarterly loss may exceed $25 million, with overseas shipments down and inventories up. A company spokesperson reported that Edwards' decision to resign was made mutually between himself and the board, suggesting that some pressure was present for him to step down. The company's stock dropped 5.1%, or 37.5 cents, to close at $7, when the news of Edwards' resignation reached the New York Stock Exchange. Edwards' departure came as a shock to analysts. He had only been at Iomega since 1994. The company spokesperson called Edwards' departure evolutionary and claimed the company is set for its next phase of growth.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Iridium delays commercial phone links
Article Abstract:
The start of Iridium LLC's commercial telephone service for its worldwide communications system will be delayed. Technicians need to fine-tune the company's satellite-based network. Iridium, a $5 billion project begun inside Motorola and then spun off, had been scheduled to begin charging customers for telephone calls on Sep 23, 1998, and the delay necessarily means less revenue will be collected this year. Industry observers say postponing the service will not be fatal to Iridium's finances, but public relations problems are likely to arise, both for Iridium, which has already initiated a $180 million advertising and marketing campaign, and for Motorola, whose investors have already waited a long time to hear good news.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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