Category: corporate buzz

I’ve posted netGuru and GuruNet contracts on the web site. The former is a provider of engineering software and IT solutions. The latter is a reference answer engine.

Philadelphia Business Journal: GSI Commerce to Aid Sears with Web. GSI Commerce Inc. said Wednesday it has been tapped by Sears, Roebuck and Co. to expand the variety of sporting goods sold on the Chicago-based retailer’s Web site, sears.com.

Wow! Imagine ordering a discus and javelin to go with the Craftsman circular saw and Kenmore refrigerator? I’ve posted GSI Commerce contracts on the web site, including several E-Commerce Agreements with Palm, Oshman’s, Sports Authority and Bluelight. Just in case you were wondering, you can buy a discus and javelin from Amazon.

Other recent additions include Interchange (paid-search advertising), SmartBargains (liquidator), and Odimo (jewelry retailer).

New York Times: Trump Hotels Plans to Seek Bankruptcy . Trump Hotels and Casino Resorts, the centerpiece of Donald J. Trump’s faltering casino holdings, said last night that it planned to file for bankruptcy protection by the end of September. The company hopes the move will allow it to reorganize under new management and with new financing that will ease its $1.8 billion debt burden.

I’ve posted Trump contracts online. Contracts of interest include The Donald’s employment agreement.

MacCentral: Roxio to Sell Software Division, Become Napster In posting its quarterly financial results on Monday, Roxio Inc. announced plans to sell its software division to Sonic Solutions in a transaction valued at US$80 million. The deal is subject to the customary regulatory and shareholder approval, but Roxio has already outlined plans to change its name to Napster, focused solely on selling digital music.

That’s an interesting strategy! A $120M company dumps its main product line for $80M just so it can focus on selling digital music? Here’s the Asset Purchase Agreement between Sonic Solutions and Roxio. I’ve also posted other Roxio contracts on the web site.

New York Times: S.E.C. Fines Halliburton $7.5 Million. The Halliburton Company secretly changed its accounting practices when Vice President Dick Cheney was its chief executive, the Securities and Exchange Commission said today as it fined the company $7.5 million and brought actions against two former financial officials.

A Cheney-led organization accused of being secretive? Anyways, these Halliburton contracts are out in the open, including Dick Cheney’s Employment Agreement.

Reuters: S. Korea’s Daum to Buy Lycos for $95 Mln. South Korea’s top Web site operator Daum Communications Corp., said on Monday it would acquire Lycos Inc., the U.S. business of Spain’s Terra Lycos, owner of popular sites such as Wired News and Tripod, for $95 million.

Back in May of 2000, Terra Networks acquired Lycos for $12.5 billion. Fortunately, it was an all-stock deal. Unfortunately, the $95 million sales price isn’t even pennies on the dollar. More like 7 cents per 10 dollars. Anyways, Lycos and Terra Networks contracts have been added to the site.

ChinaTechNews.com: Shanda to Acquire Stake in Haofang. Shanda Interactive Entertainment Limited, the operator of online games in China, announced today that it has signed an agreement to purchase for cash a minority stake in Shanghai Haofang Online Information Technology Co., Ltd., or Haofang, a privately-owned company that develops and operates the largest network PC game platform in China.

For China watchers, I’ve posted contracts from Shanda Interactive Entertainment, as well as China Life Insurance, China Mobile, China National Petroleum, China Petroleum & Chemical, China Resources Development, China Unicom, Ivanhoe Energy, NetEase.com, Pan Asia Mining, Sina and Sohu.com.

Bloomberg: Krispy Kreme Probed by SEC on Accounting, Forecasts Krispy Kreme Doughnuts Inc., the second-biggest U.S. doughnut chain, said the Securities and Exchange Commission is investigating how the company accounted for the repurchase of franchises and earnings forecasts.

Krispy Kreme was buying back franchises and it didn’t disclose that the CEO’s ex-wife was one of the sellers. That doesn’t sound good. I’ve posted Krispy Kreme contracts so you can see what the company has disclosed in the past.

CFO.com: BroadVision Receives Wells Notice The provider of self-service web applications announced that it has received a Wells notice, which indicates that the SEC staff has made a preliminary decision to recommend that the commission bring a civil action.

I’ve added BroadVision contracts to the site, as well as those from its competitors. For BroadVision, the contracts of interest include employment agreements and leases.

For Art Technology Group, I’ve posted some employment agreements and software license agreements. BackWeb Technologies features some marketing agreements, license agreements, and OEM agreements. Plumtree Software features employment agreements, OEM agreements and software license agreements. SeeBeyond Technology features employment agreements and leases. Finally, Vitria Technology includes leases, services agreements, employment agreements and severance agreements.

NY Times: PNC Financial Services Group Inc. to Buy Embattled Riggs Bank for $779 Million. Riggs, an old-line Washington institution with deep ties to the diplomatic community, is under congressional investigation for allegedly helping hide money for former Chilean dictator Augusto Pinochet and other lapses.

View Riggs Bank contracts.