Business briefs: March 8
Posted: Sat, Mar 9, 2002, 9:50 AM ET (1450 GMT)
- Boeing announced Friday that it will take a one-time charge of $2.1 to $2.6 billion in the first quarter to reflect changes in rules regarding the accounting of "goodwill" in acquisitions. The company said the charge will have no effect on the company's operations.
- The FCC suspended its review of the EchoStar-DirecTV merger on Thursday. The FCC said it needs more financial information from EchoStar before it can continue the review. EchoStar had no comment on the news.
- John Ferrara resigned as president of SPACE.com on Thursday, according to published reports. No reason for Ferrara's departure was given. Mark Wright of Blue Chip Venture, one of the company's early backers, has been named interim CEO.
- Intelsat formally announced late Friday that it is planning an initial public offering of stock worth $500 million later this year. An exact date of the IPO was not given, but the company said it will take place by the end of the year. Federal law known as the ORBIT Act requires Intelsat to complete an IPO by the end of 2002.