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Whittman-Hart, USWeb/CKS Accelerate Integration Planning Outside Advisers Provide Strategy, Insight, Process Validation
NEW YORK, Feb 9, 2000 /PRNewswire via COMTEX/ -- At the Salomon Smith Barney
Conference today, Whittman-Hart, Inc. (Nasdaq: WHIT) and USWeb/CKS (Nasdaq:
USWB) announced the acceleration of integration planning efforts following the
early termination of the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976. The companies have established 17 internal integration
teams, retained outside advisers to assist with the integration process, and
rolled out a cultural audit to both companies.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000112/WHITLOGO )
"Since we announced our intention to merge, more than 100 companies have
contacted Whittman-Hart and USWeb/CKS, requesting services that only the new
company will be able to provide," said Robert Bernard, Whittman-Hart Chairman
and Chief Executive Officer, who will be the CEO of the combined company. "They
realize that the new organization will have unparalleled global reach, and
they`re anxious to leverage our combined strategy, creative and technology
expertise.
"Whittman-Hart and USWeb/CKS are approaching this integration aggressively, as
we would a client project, by assembling the best possible resources to produce
the best possible results for our employees, clients and shareholders," Bernard
added.
Integration Planning Approach
Under the direction of Michael Berent, Whittman-Hart Chief Operating Officer, 17
internal teams are meeting in Chicago to develop strategies for integrating
Whittman-Hart and USWeb/CKS and creating a new organization. Composed of 125
leaders primarily from the companies` headquarters offices, the teams are
addressing four critical areas: corporate direction, operations delivery,
operations support, and communications/organizational change management.
Within these areas, the integration teams are concentrating on a number of core
business components such as service offerings, consulting operations,
managed/hosted services, strategic alliances, and the new organization`s brand.
A Program Management Office (PMO) is overseeing the day-to-day efforts of these
teams, providing integration infrastructure and support and facilitating
collaboration.
The companies` overall transition strategy has three phases:
-- In the pre-close period, Whittman-Hart and USWeb/CKS continue to
manage their respective businesses and plan for integration.
-- In the 100 days following the close, the companies will function as a
single legal entity, preserving the value and momentum of each
business while leveraging their combined skill sets, clients and
infrastructure.
-- Starting immediately after the close and continuing through the end of
the year, the companies will phase in a unified business model,
infrastructure and organizational structure as well as launch a new
brand.
Proven, Experienced Advisers Retained
To augment the efforts of the integration teams, USWeb/CKS and Whittman-Hart
have retained three advisers for strategic guidance, experienced insight,
program infrastructure and process support.
Hewitt Associates, a global management consulting firm specializing in human
resource solutions, is providing cultural assessment guidance and administering
a cultural audit for employees of both companies. "As we assess the values and
strengths of both cultures, we see significant similarities," said Rich Evans,
USWeb/CKS Chief People Officer. "Building on this common ground, our human
resources, strategic education and recruiting teams are focused on creating an
atmosphere that reinforces our strengths and celebrates our people and their
contributions."
Price Pritchett, noted author and expert in merger integration strategy and
organizational change, is advising the executive steering committee, providing
insight into all aspects of the integration.
Fourth Floor Consulting, Inc., a Chicago-based strategy execution firm, is
assisting the PMO with day-to-day integration management and team support.
Schedule for Closing
Consummation of the USWeb/CKS and Whittman-Hart merger remains subject to
approval by the stockholders of both USWeb/CKS and Whittman-Hart and other
customary closing conditions. Special meetings for stockholders of both
companies will be held on February 28. Subject to the satisfaction or waiver of
all closing conditions, the merger is expected to close by early March. The
companies plan to preview the new organization`s name and logo for employees
before unveiling them publicly at a special event in New York on March 23.
About USWeb/CKS and Whittman-Hart
USWeb/CKS seeks to transform businesses in the digital economy and create
sustainable market leadership for its clients. As the leading Internet
professional services firm, USWeb/CKS has created a new standard for success in
the digital economy -- Time-to-Value. Time-to-Value means USWeb/CKS applies its
extensive insight, experience and scale to deliver breakthrough results quickly.
The Company is headquartered in San Francisco, California, with more than 4,500
professionals in 13 countries around the world. Additional information about
USWeb/CKS is available by calling 415-284-7070 or go to www.uswebcks.com.
Headquartered in Chicago, Whittman-Hart helps clients improve marketplace
performance by creating the essential connections between digital strategy,
creative marketing and technology. In 1999, FORTUNE ranked Whittman-Hart as one
of America`s Fastest-Growing Companies. In 1998 and 1997, Forbes named
Whittman-Hart one of the 200 Best Small Companies in America. Whittman-Hart has
approximately 4,100 employees in 23 branch offices throughout the United States
and the United Kingdom. Its Web site is www.whittman-hart.com.
This press release contains "forward-looking statements" (as defined under
federal securities law) regarding the planned merger of USWeb/CKS and
Whittman-Hart. The actual events, including the ability of the companies to
obtain stockholder approval, close the merger transaction and complete the
integration of the two entities, may differ materially and adversely from those
discussed in this press release. Factors that may cause such a difference
include, without limitation, inability to obtain stockholder approval of the
transaction, failure to satisfy the closing conditions set forth in the merger
agreement, adverse fluctuations in stock prices, potential litigation, and other
risks associated with acquisitions, such as difficulties in integrating
operations. There can be no assurance that the merger will be completed on the
intended schedule, or at all, or that the combined entities will be able to
realize the intended benefits. For additional information about factors that
could affect the businesses of USWeb/CKS and Whittman-Hart, see the documents
filed by the companies with the United States Securities and Exchange
Commission.
SOURCE Whittman-Hart, Inc.
(C) 2000 PR Newswire. All rights reserved.
Whittman-Hart, USWeb/CKS Accelerate Integration Planning Outside Advisers Provide Strategy, Insight, Process Validation
NEW YORK, Feb 9, 2000 /PRNewswire via COMTEX/ -- At the Salomon Smith Barney
Conference today, Whittman-Hart, Inc. (Nasdaq: WHIT) and USWeb/CKS (Nasdaq:
USWB) announced the acceleration of integration planning efforts following the
early termination of the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976. The companies have established 17 internal integration
teams, retained outside advisers to assist with the integration process, and
rolled out a cultural audit to both companies.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000112/WHITLOGO )
"Since we announced our intention to merge, more than 100 companies have
contacted Whittman-Hart and USWeb/CKS, requesting services that only the new
company will be able to provide," said Robert Bernard, Whittman-Hart Chairman
and Chief Executive Officer, who will be the CEO of the combined company. "They
realize that the new organization will have unparalleled global reach, and
they`re anxious to leverage our combined strategy, creative and technology
expertise.
"Whittman-Hart and USWeb/CKS are approaching this integration aggressively, as
we would a client project, by assembling the best possible resources to produce
the best possible results for our employees, clients and shareholders," Bernard
added.
Integration Planning Approach
Under the direction of Michael Berent, Whittman-Hart Chief Operating Officer, 17
internal teams are meeting in Chicago to develop strategies for integrating
Whittman-Hart and USWeb/CKS and creating a new organization. Composed of 125
leaders primarily from the companies` headquarters offices, the teams are
addressing four critical areas: corporate direction, operations delivery,
operations support, and communications/organizational change management.
Within these areas, the integration teams are concentrating on a number of core
business components such as service offerings, consulting operations,
managed/hosted services, strategic alliances, and the new organization`s brand.
A Program Management Office (PMO) is overseeing the day-to-day efforts of these
teams, providing integration infrastructure and support and facilitating
collaboration.
The companies` overall transition strategy has three phases:
-- In the pre-close period, Whittman-Hart and USWeb/CKS continue to
manage their respective businesses and plan for integration.
-- In the 100 days following the close, the companies will function as a
single legal entity, preserving the value and momentum of each
business while leveraging their combined skill sets, clients and
infrastructure.
-- Starting immediately after the close and continuing through the end of
the year, the companies will phase in a unified business model,
infrastructure and organizational structure as well as launch a new
brand.
Proven, Experienced Advisers Retained
To augment the efforts of the integration teams, USWeb/CKS and Whittman-Hart
have retained three advisers for strategic guidance, experienced insight,
program infrastructure and process support.
Hewitt Associates, a global management consulting firm specializing in human
resource solutions, is providing cultural assessment guidance and administering
a cultural audit for employees of both companies. "As we assess the values and
strengths of both cultures, we see significant similarities," said Rich Evans,
USWeb/CKS Chief People Officer. "Building on this common ground, our human
resources, strategic education and recruiting teams are focused on creating an
atmosphere that reinforces our strengths and celebrates our people and their
contributions."
Price Pritchett, noted author and expert in merger integration strategy and
organizational change, is advising the executive steering committee, providing
insight into all aspects of the integration.
Fourth Floor Consulting, Inc., a Chicago-based strategy execution firm, is
assisting the PMO with day-to-day integration management and team support.
Schedule for Closing
Consummation of the USWeb/CKS and Whittman-Hart merger remains subject to
approval by the stockholders of both USWeb/CKS and Whittman-Hart and other
customary closing conditions. Special meetings for stockholders of both
companies will be held on February 28. Subject to the satisfaction or waiver of
all closing conditions, the merger is expected to close by early March. The
companies plan to preview the new organization`s name and logo for employees
before unveiling them publicly at a special event in New York on March 23.
About USWeb/CKS and Whittman-Hart
USWeb/CKS seeks to transform businesses in the digital economy and create
sustainable market leadership for its clients. As the leading Internet
professional services firm, USWeb/CKS has created a new standard for success in
the digital economy -- Time-to-Value. Time-to-Value means USWeb/CKS applies its
extensive insight, experience and scale to deliver breakthrough results quickly.
The Company is headquartered in San Francisco, California, with more than 4,500
professionals in 13 countries around the world. Additional information about
USWeb/CKS is available by calling 415-284-7070 or go to www.uswebcks.com.
Headquartered in Chicago, Whittman-Hart helps clients improve marketplace
performance by creating the essential connections between digital strategy,
creative marketing and technology. In 1999, FORTUNE ranked Whittman-Hart as one
of America`s Fastest-Growing Companies. In 1998 and 1997, Forbes named
Whittman-Hart one of the 200 Best Small Companies in America. Whittman-Hart has
approximately 4,100 employees in 23 branch offices throughout the United States
and the United Kingdom. Its Web site is www.whittman-hart.com.
This press release contains "forward-looking statements" (as defined under
federal securities law) regarding the planned merger of USWeb/CKS and
Whittman-Hart. The actual events, including the ability of the companies to
obtain stockholder approval, close the merger transaction and complete the
integration of the two entities, may differ materially and adversely from those
discussed in this press release. Factors that may cause such a difference
include, without limitation, inability to obtain stockholder approval of the
transaction, failure to satisfy the closing conditions set forth in the merger
agreement, adverse fluctuations in stock prices, potential litigation, and other
risks associated with acquisitions, such as difficulties in integrating
operations. There can be no assurance that the merger will be completed on the
intended schedule, or at all, or that the combined entities will be able to
realize the intended benefits. For additional information about factors that
could affect the businesses of USWeb/CKS and Whittman-Hart, see the documents
filed by the companies with the United States Securities and Exchange
Commission.
SOURCE Whittman-Hart, Inc.
(C) 2000 PR Newswire. All rights reserved.
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