The Battalion. (College Station, Tex.) 1893-current, April 27, 2000, Image 8
NATION Page 8 THE BATTALION Thursday,a AT&T to continue with wireless IPO NEW YORK (AP) — Despite a queasy stock market, AT&T is asking Wall Street to swallow more than $10 billion worth of a new stock represent ing its vast wireless operations. The initial public offering could prove to be the richest in U.S. history. The IPO was conceived of during happier times, less than six months ago, when investors seemed to have a bot tomless appetite for any business that might profit from the Web-ification of the world — with a particular craving for those that can provide a wireless link to all the niftiness of the Internet. But in recent weeks, worries about when those profite might materialize have killed that hunger, prompting a selloff that has beaten down the high flying share prices of even those com panies that make money. As a result, some companies have been postponing their IPOs, fearful that the current atmosphere will deprive them of a big payday. AT&T, however, was expected Wednesday to proceed with the IPO of its new wireless “tracking" stock, which will represent the financial per formance of the company’s mobile ELECT MICHAEL BLUM Class of ‘01 FOR CITY COUNCIL PLACE 4 EARLY VOTING NOW UNTIL MAY 2'“’AT CITY HALL REGULAR VOTING IS MAY 6™ AT YOUR DESIGNATED POLLING PLACE. POL. AD PAID BY SCOTT POTEET. TREASURER, 950 COLGATE -114 COLLEGE STATION. TX 77840 * Do you want ta ahawa Wary on your urWyaraRy's oampua? Do you anfoy (Mng book to the * Do you I Mo mooting now pa opto? V jrow Th* MOIaraMi « Taw Tw* UntwaaT" 1 toaMsg t« oewsdto 7«ar oanpvtl If Mlpktf gw wiwmltr The Agrtese Haury Institute for Court Interpretation THE UNIVERSITY OF ARIZONA is ofTering its annual three week intensive inter preter training institute. This program is de signed to train Spanish/English bilingual indi viduals with the practical and advanced skills to pursue a career as an interpreter in a variety of settings. For more information, please call: Tel (520) 621-3615 Fax (520) 624-8130 email: ncitrp@u.arizona.edu website: w3.arizona.edu/~ncitrp July 10-28,2000 Laser Hair Removal *50 Off Any First Treatment Must be scheduled by 05-30^00 Dr. Michael Jones M.D. Supervising Physician Payment Plans Available \!/ /TS Laser Solutions Free Consultation 696-2393 2551 Suite E. Texas Avenue South Near Lacks • College Station ScMMitorger Software Engineer Position Schlumberger in Sugar Land. TX is looking for a Software Engineer to join our team. Be involved in the entire development process for building oilfield-engineering software. Requirements: • BS or MS in Comp Science or Comp Engineering related Engineering disciple. • Solid software engineering background - object-oriented design and programming (C++, Java). • Strong teamwork and communication skills. • Experience with real time data acquisition is a plus. • COM/DCOM, ActiveX experience is a plus. • Summer or Coop experience In Software Engineering tasks is a strong plus. Prior full time employment is not required. Mail resumes to: Robert Kellogg 110 Schlumberger Drive Sugar Land, TX 77478 Or email to rkellOQo@slb.cofn phone business as well as new initia tives that use the airwaves to deliver phone and Web services to homes and businesses with special antennas. Whether AT&T finds strong de mand for the new stock will say some thing about whether investors are get ting over their fright. Since AT&T Wireless Group is a real business with real customers and real profits, a successful IPO will not mean that the boom times are returning for Internet companies that look promising but are still losing money or barely making money. On the other hand, if investors do not want any part of a business w ith such strong credentials, it will metin in vestors are having a hard time getting past the recent trauma. Part of the reason AT&T w ould n’t want to delay the IPO is that it’s not so simple to coordinate a stock sale this large. According to a prospectus filed ear lier this month with the Securities and Exchange Commission. AT&T wants to sell between 360 million and 414 million shares in the new w ireless stock for between $26 and $32 per share. States seeking methods to losses in tobacco settlement HARRISBURG, Pa. (AP) — State governments fearful of losing billions in * tobacco settlement money are scurrying to find ways to keep the cash coming in the face of lagging cigarette sales and high-stakes litigation in Florida. The states already took a billion-dol- lar hit this month after their payments were decreased to reflect last year’s 9 percent decline in U.S. cigarette ship ments. Pennsylvania received $198 mil lion, about $28 million less than project ed, and other states reported similar declines of 10 percent to 15 percent. The losses, w hich some state officials say may continue, could shave more than $20 billion from the $206 billion due to 46 states over 25 years to cover health-re lated costs, under a "volume adjustment" clause of the settlement agreement. Even worse, states worry that pay ments could be delayed for years in the event of a crippling punitive aw ard in a Florida class-action law suit involving an estimated 500,000 sick smokers. It’s a potential problem for many states, w hich arc using their cut of the settlement to pay for projects ranging from smoking prevention programs and health insurance for tfie uninsured to schools, water projects and new jails. With so much at stake, state govern ments are keeping close watch on the health of the very industry' at the core of the health-related problems to begin with. “1 do think state appropriators have been very cautious where they put these dollars, knowing they’re going to change," said Joan Henneberry, a health policy expert at the National Governors Association. Many states, like Pennsylvania, want to cushion the impact of fluctuat ing payments w ith plans to set aside portions in rainy day funds and by ap propriating the settlement money for programs year by year. Other states are bolder. Four tobacco states — Georgia, Kentucky, Virginia and North Carolina have passed or are pondering bills to shield industry as sets during the appeals process. That Virginia and L tana, cite the declining payments and the industry’s bankruptcy risk for why they may sell some of their settlement to investors at a discount. They say it’s better that counting on the indus try to stay fully afloat for 25 years. "We can’t afford to take that risk." said Louisiana State Treasurej Kennedy. “If your rich uncle left you S4.6 billion, youwoi all Philip Morris stock; you’d fy. ... But every day we waitjai' had new s comes out about the industry, the price goes down; zo spendinq came after some analysts pru .‘dieted record damages in Florida and as the Justice Department sues the inclii istry to recove r billions the govemn icnl savs it spent c >n smoking-re Tated he; ilth care. And a few states , includii rig F lorida. ||M junior Eva Mai Tainst the Univers ■-i.-si. ® - Corporate lesson #1: Never pass up a great offer. Vome o shin BY BLAINE D The Battal CORPORATE LESSON #2: COME PREPRRED. We’ve got you covered there. When you buy any new 1999 or 2000 Mazda, you can choose the "Get Professional Kit” and we’ll hook you up with a / r T: B A year's worth ofhai ime will come to its "lekend in Kansas Cii KM women’s tennis l ■ Kansas City is the Har’s Big 12 Tournan Jgies are the third see memories of last tournament play. Junior Eva Marcial s [sically need to start ( ason to do well. “We are going to hr larcial said. “It’s a n w're the third seed Heryone can refocus b a short time. Ifevejryc pe for about four day pty good.” Last year, the Aggie: liable to regroup in ti Palm V* Connected Organizer and a 1-year subscription to PSTtoMPANY OR 180 DAYS DEFERRED PRYMENT (1) With purchase of any new 1999 or 2000 Mazda vehicle. if you’re into instant gratification, get *400 CUSTOMER CASH on the spot! Either way, if you purchase, you won’t have to fork out any monthly payments for 180 days. Isn’t it time you found out what upward mobility is really about? Carat 1.16 1.04 1.03 .81 Colot E H J H G I E F/G F H H _____ . Pioo (2) CUSTOMER CRSH ^ 1 MORE INFORMATION? 1-800-639-1000 "GET PROFESSIONAL KIT" Including a Palm Pilot Vx and other career swag i Get in. Be moved. MAZDA GRADUATE PROGRAM IflflM t ; mm. (1) Payment deferral not available in PA and limited in Ml and DC. Offer not available on lease contracts. Qualified buyers, as determined by Mazda American Credit, take new retail delivery from dealer stock by 12/31/00. (2) $400 College Graduate cash back or “Get Professional Kit” (allow 6-8 weeks for delivery) available on purchase of any new ’99 or ’00 Mazda vehicles. Limit one per customer. Qualified customers must be within six months of grad uation or have graduated within the last two years from one of the following: accredited junior or community college with an associates degree, an accredited college or university with a bachelors degree, an accredited nursing school with a bachelors in nursing degree, an accredited graduate school with a masters degree or are currently enrolled in graduate school. Mazda reserves the right to discontinue this promotion for any reason at any time. The Best Buy Seal is a registered trademark of Consumers Digest, Inc. Carat 1.21 .94 .70 .49 Coloi J K G F Carat 1.53 Colo 1 Ne)