Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Boeing to Discontinue Connexion by Boeing Service
Posted on 18-Aug-2006 18:13. | Tags Filed under: News.



The Boeing Company has announced that a detailed business and market analysis of Connexion by Boeing is complete, and the company has decided to exit the high-speed broadband communications connectivity markets. Boeing will work with its customers to facilitate an orderly phase out of the Connexion by Boeing service.

"Over the last six years, we have invested substantial time, resources and technology in Connexion by Boeing," said Boeing Chairman, President and CEO Jim McNerney. "Regrettably, the market for this service has not materialized as had been expected. We believe this decision best balances the long-term interests of all parties with a stake in Connexion by Boeing."

As initially disclosed in the company's second-quarter 2006 financial results on 26 July, Boeing now expects to recognize a pre-tax charge of up to US$320 million, or US$0.26 per share, in the second half of 2006, of which approximately US$290 million will be taken in the third quarter and the balance in the fourth quarter. The company also expects a benefit to earnings of approximately US$0.15 per share starting in 2007 without further investment in Connexion.

The company will update its financial guidance when it releases third quarter results on October 25.




comments powered by Disqus




Trending now »

Hot discussions in our forums right now:

Gareth Morgan is a genius
Created by Satch, last reply by JayADee on 10-Dec-2016 14:28 (175 replies)
Pages... 10 11 12


NZ Prime Minister John Key Resigns
Created by ajobbins, last reply by Handle9 on 10-Dec-2016 14:21 (220 replies)
Pages... 13 14 15


The President Of The USA - Who do you think?
Created by TimA, last reply by DarthKermit on 8-Dec-2016 16:22 (909 replies)
Pages... 59 60 61


Spark wireless broadband and home /lan access: CGNAT limitations
Created by yokkem, last reply by BarTender on 8-Dec-2016 15:57 (19 replies)
Pages... 2


Spark not planning to deploy native IPv6 at all. Ever.
Created by Erayd, last reply by sbiddle on 7-Dec-2016 20:57 (19 replies)
Pages... 2


Woooaaahh earthquake 2016-11-14
Created by Fred99, last reply by DarthKermit on 9-Dec-2016 16:16 (471 replies)
Pages... 30 31 32


Wilson's Car Park - When Free is not free
Created by nzkiwiman, last reply by cr250bromo on 9-Dec-2016 09:30 (51 replies)
Pages... 2 3 4


JB Hifi Cost & GST Sale - 7th Dec
Created by Finch, last reply by Kopkiwi on 7-Dec-2016 15:11 (16 replies)
Pages... 2