Extra Practice News Story: Business
October 31, 2007
Madison Hintze
Google Surprises Time Warner with Unsuspecting Hostile Bid
Palo Alto, California-Time Warner Inc. (TWX) was not expecting the offer that Google Inc. (GOOG) made recently. Google offered Time Warner $60 billion for a complete buyout. Eric Schmidt, CEO and Chairman of Google Inc. said, “We’ve over priced the value in their (Time Warner) stock. We wanted to make the offer more appealing.” Google Inc. began as an information search engine, and now wants to be known as a content provider. “We don’t have a top notch facility to produce content, Time Warner does.” Said Schmidt. Schmidt thinks that Google has a good track record to make this happen. The sum of $60 billion, if Time Warner accepts the offer, will be paid in $10 billion cash, $45 billion in stocks, and $5 billion in assumed debt. The actual figured price that Time Warner would have expected for a complete buy out would have been $45 billion in stocks and $5 billion in assumed debt. Google threw in the $10 billion cash as an extra incentive.
Time Warner has not yet met as a board to discuss the offer that was made to the company. Richard D. Parsons, CEO of Time Warner Inc. said, “A buyout option has never been discussed up to this point, only mergers have come up. We don’t even know how Google came up with the $60 billion offer.” This is a decision that will take some time and is not something that Time Warner plans on rushing into anytime soon, however, that does not mean they have completely opposed the option of the buyout.
Terry Semel, CEO and Chairman of Yahoo! (YHOO) and Steve Ballmer, CEO of Microsoft (MSFT), were both contacted, however, neither made a statement of the situation at hand.
Paul Kim, an Industry Analyst said that Time Warner would be foolish not to accept the offer from Google. “As for the whole industry, it seems to make sense. This may be another match made in heaven that goes to hell, but I don’t think so,” said Kim.
Wednesday, October 31, 2007
Practice News Story #8-Business
Practice News Story #8:Business
October 31, 2007
Madison Hintze
Google Inc. Makes Shocking Offer to Time Warner Inc.
PALO AlTO, California-An unexpected hostile bid was made my Google to Time Warner. Google has offered to buyout Time Warner for the lump sum of $60 billion. Richard D. Parsons, CEO of Time Warner said, “ We don’t even know how they (Google) came up with the $60 billion offer.” Time Warner has had previous discussions about mergers; however, an actual buyout option had not come up until this point.
As for Google, Eric Schmidt, CEO and Chairman of Google, said, “We don’t have a top notch facility to produce content, Time Warner does.” Google started out as an information search engine, they now want to be known as a content provider. Purchasing Time Warner would allow this to happen. Google has definitely overpriced the buyout figure with $60 billion. Schmidt said, “We’ve overpriced the value in their stock-we wanted to make the offer more appealing.” The large amount has been broken down and will be paid in $10 billion cash, $45 billion stock, and $5 billion in assumed debt. Google added the $10 billion cash as an eye-catcher in the offer.
As for the thoughts from Microsoft and Yahoo; Terry Semel, CEO and Chairman of Yahoo and Steve Ballmer, CEO of Microsoft, would not make any comments in regard to the surprising hostile offer.
Paul Kim, an Industry Analyst said that Time Warner would be foolish not to accept the offer from Google. Kim said, “As for the whole industry, it seems to make sense. It may be another match made in heaven that goes to hell, but I don’t think so.”
Time Warner is in no rush to make a decision. Such a big offer and huge industry change will take time.
October 31, 2007
Madison Hintze
Google Inc. Makes Shocking Offer to Time Warner Inc.
PALO AlTO, California-An unexpected hostile bid was made my Google to Time Warner. Google has offered to buyout Time Warner for the lump sum of $60 billion. Richard D. Parsons, CEO of Time Warner said, “ We don’t even know how they (Google) came up with the $60 billion offer.” Time Warner has had previous discussions about mergers; however, an actual buyout option had not come up until this point.
As for Google, Eric Schmidt, CEO and Chairman of Google, said, “We don’t have a top notch facility to produce content, Time Warner does.” Google started out as an information search engine, they now want to be known as a content provider. Purchasing Time Warner would allow this to happen. Google has definitely overpriced the buyout figure with $60 billion. Schmidt said, “We’ve overpriced the value in their stock-we wanted to make the offer more appealing.” The large amount has been broken down and will be paid in $10 billion cash, $45 billion stock, and $5 billion in assumed debt. Google added the $10 billion cash as an eye-catcher in the offer.
As for the thoughts from Microsoft and Yahoo; Terry Semel, CEO and Chairman of Yahoo and Steve Ballmer, CEO of Microsoft, would not make any comments in regard to the surprising hostile offer.
Paul Kim, an Industry Analyst said that Time Warner would be foolish not to accept the offer from Google. Kim said, “As for the whole industry, it seems to make sense. It may be another match made in heaven that goes to hell, but I don’t think so.”
Time Warner is in no rush to make a decision. Such a big offer and huge industry change will take time.
Monday, October 29, 2007
Practice News Article #7-Speech
Practice News Article #7
November 19, 1863
Gettysburg, Pennsylvania
Madison Hintze
Today, President Abraham Lincoln gave a speech in Gettysburg, Pennsylvania that will long be remembered. “Four score and seven years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.”
In Gettysburg, Pennsylvania, Lincoln was dedicating a cemetery to the brave men that fought in the Civil War. “It’s humbling to consider all the sacrifices that have been made and it’s humbling to be the leader of this great nation at this time.” Said Lincoln. Lincoln also said that the end of the civil war is in sight, his estimate was within the coming weeks.
In Lincoln’s speech he stated that we, as a people, cannot consecrate, or hollow the land where many brave men lay, but that they have done that on their own, with their honor.
What was said today can be forgotten. What was done in this war cannot be. It is the duty of the living, those that have been left behind to keep this nation together. We must increase devotion so that these men did not die in vain.
Please refer to the below link for a full copy of the Gettysburg Address, given by President Abraham Lincoln earlier today. November 19, 1863.
http://showcase.netins.net/web/creative/lincoln/speeches/gettysburg.htm
November 19, 1863
Gettysburg, Pennsylvania
Madison Hintze
Today, President Abraham Lincoln gave a speech in Gettysburg, Pennsylvania that will long be remembered. “Four score and seven years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.”
In Gettysburg, Pennsylvania, Lincoln was dedicating a cemetery to the brave men that fought in the Civil War. “It’s humbling to consider all the sacrifices that have been made and it’s humbling to be the leader of this great nation at this time.” Said Lincoln. Lincoln also said that the end of the civil war is in sight, his estimate was within the coming weeks.
In Lincoln’s speech he stated that we, as a people, cannot consecrate, or hollow the land where many brave men lay, but that they have done that on their own, with their honor.
What was said today can be forgotten. What was done in this war cannot be. It is the duty of the living, those that have been left behind to keep this nation together. We must increase devotion so that these men did not die in vain.
Please refer to the below link for a full copy of the Gettysburg Address, given by President Abraham Lincoln earlier today. November 19, 1863.
http://showcase.netins.net/web/creative/lincoln/speeches/gettysburg.htm
Wednesday, October 3, 2007
Practice News Article #5: Obituary
Posted October 3, 2007
Salt Lake City-Lance Armstrong Dies at the Age of 36
A survivor of cancer that spread to his brain and a seven time Tour De France Champion. ‘Live Strong’ became a saving phrase for so many. Tour De France altered the race course seven different times, a small attempt to provide a chance for another champion (according to www.lancearmstrong.com). Lance blew us all away with his willingness and determination to keep going no matter what. Regardless of the constant drug testing during his career, he was able to keep a level head and come back year after year and amaze us all.
While attempting to break the Land Speed Record in the Bonneville Salt Flats in Salt Lake City, Utah, Lance Armstrong regretfully passed away on October 3, 2007. The exact cause of his death is unknown at this time. It is under investigation that is taking place at the University of Utah Medical Center.
Lance is survived by his mother, Linda Armstrong. His ex-wife and mother of their children, Kristen. His oldest child Luke, and twin daughters Isabelle and Grace.
Funeral services will be held in Austin, Texas on October 9, 2007 at the McDougal Funeral Home. In lieu of flowers, donations are being accepted at America First Credit Union, all proceeds will go to the Live Strong Foundation
Salt Lake City-Lance Armstrong Dies at the Age of 36
A survivor of cancer that spread to his brain and a seven time Tour De France Champion. ‘Live Strong’ became a saving phrase for so many. Tour De France altered the race course seven different times, a small attempt to provide a chance for another champion (according to www.lancearmstrong.com). Lance blew us all away with his willingness and determination to keep going no matter what. Regardless of the constant drug testing during his career, he was able to keep a level head and come back year after year and amaze us all.
While attempting to break the Land Speed Record in the Bonneville Salt Flats in Salt Lake City, Utah, Lance Armstrong regretfully passed away on October 3, 2007. The exact cause of his death is unknown at this time. It is under investigation that is taking place at the University of Utah Medical Center.
Lance is survived by his mother, Linda Armstrong. His ex-wife and mother of their children, Kristen. His oldest child Luke, and twin daughters Isabelle and Grace.
Funeral services will be held in Austin, Texas on October 9, 2007 at the McDougal Funeral Home. In lieu of flowers, donations are being accepted at America First Credit Union, all proceeds will go to the Live Strong Foundation
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