Banking, finance, and taxes
Freescale Joins Motorola in Purgatory (MOT)
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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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