Under fire, Belgian speech software maker files for bankruptcy

Article Abstract:

Belgian maker of speech-recognition software Lernout & Hauspie Speech Products N.V. has filed for bankruptcy protection under Chapter 11, in Delaware, and will seek bankruptcy protection in Belgium as well. The firm will be revising financial statements since 1998 due to accounting irregularities. Recently, founders Jo Lernout and Pol Hauspie resigned. An unnamed insider says that new management found a culture of secrecy in which financial data was allegedly withheld from the company's own accountants as well as from the public. An attorney for the new management says that the bankruptcy filing offers the firm its best chance to straighten out the accounting and financial mess.

Belgium, Analysis, Finance, Voice recognition software, Speech recognition software, Lernout & Hauspie Speech Products N.V., Bankruptcy

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PeopleSoft gets contract with I.R.S. for software

Article Abstract:

PeopleSoft Inc. has obtained a contract of over $10 million worth of C.R.M., customer relationship management software from the Internal Revenue Service. The I.R.S. will spend $432 million on information technology improvements in 2001, and $432 million in 2002.

Contracts, United States. Internal Revenue Service, PeopleSoft Inc., PSFT, Customer relationship management

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Video game field becomes crowded and highly profitable

Article Abstract:

Game consoles and video games are becoming more popular and profitable despite the September 11 attacks and general United States economic conditions. Corporations like Microsoft and Sega are making excellent profits from avid game lovers.

Japan, Forecasts, trends, outlooks, Game, Toy, and Children's Vehicle Manufacturing, Home Video Games, Games, toys, and children's vehicles, Electronic Games, Product information, Microsoft Corp., Statistics, Computer games, Video game industry, Video games industry, Video games, MSFT, Computer game, Sega Enterprises Ltd.

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