Freescale Joins Motorola in Purgatory (MOT)
Freescale announced that it is exploring strategic options for its cellular handset business and intends to complete a sale, joint venture agreement or other transaction in the coming months. Former corporate parent Motorola (NYSE: MOT) agreed to provide certain consideration…
Freescale announced that it is exploring strategic options for its cellular handset business and intends to complete a sale, joint venture agreement or other transaction in the coming months. Former corporate parent Motorola (NYSE: MOT) agreed to provide certain consideration in exchange for Freescale eliminating the remaining minimum purchase commitments. Freescale now expects its cellular handset revenues and total operating earnings to decrease beginning in the fourth quarter.
Freescale used to be part of Motorola before Motorola spun it off.Those were worrisome times even then, particularly as several employeeson a plane called their soon-to-be employer "Freefall." The ghostof Motorola doesn’t go away.
Jon C. Ogg
October 2, 2008
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.