Silicon volley; high-tech firms rush to fund a pet cause: chill all the lawyers; a former Intuit ace leads California battle to curb lawsuits and huge fees; finding rewards in politics

Article Abstract:

Intuit co-founder Thomas Proulx pushes for the passage of a set of California ballot measures that would significantly restrict the amount that trial lawyers are able to earn. Proulx has garnered $6 million in financial support for the initiatives, an indication of the high-tech industry's increasing political interest, influence and capability. High-tech lobbyists have successfully worked for the passage of particular legislature, a recent congressional veto and the killing of a proposal designed to reduce immigration slots for foreign high tech workers. Both politicians and executives of high-tech corporations have grown increasingly aware of the potential influence that each can apply to the other's interests. As technology-based companies become more prevalent and established, their credibility and power will continue to rise in Washington DC.

Electronic Computer Manufacturing, Computers & Auxiliary Equip, Officials and employees, Forecasts and trends, Industry trend, Influence, Political issue, Activism, Political protest, Intuit Inc., INTU

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AT&T sells stake in Sun Microsystems, which buys back five million shares

Article Abstract:

AT&T sells most of its 19 percent stake in Sun Microsystems Inc for $584 million. Sun itself bought back five million shares. The sale ends an alliance between AT&T and Sun that accelerated the development of Unix but fell short of making AT&T into a formidable force in the computer industry. Now, AT&T is preparing for its merger with NCR Corp, which will represent AT&T in the computer industry. The money that it gains back from its investment will be welcomed at AT&T, which has lost more than $2 billion on its computer operations during the past seven years.

Telephone communications, exc. radio, Telecommunications services industry, Telecommunications industry, Telephone companies, Investments, T, Sun Microsystems Inc., SUNW, Securities, NCR, American Telephone and Telegraph Co., Computer Industry, Telephone Company, Stock

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