From: owner-oppositeview-digest@smoe.org (oppositeview-digest) To: oppositeview-digest@smoe.org Subject: oppositeview-digest V5 #39 Reply-To: oppositeview@smoe.org Sender: owner-oppositeview-digest@smoe.org Errors-To: owner-oppositeview-digest@smoe.org Precedence: bulk oppositeview-digest Friday, March 7 2003 Volume 05 : Number 039 Today's Subjects: ----------------- OV: Take the Pepsi challenge? ["Joe Brady" ] OV: Pepsi challenge? [SngWrite1@aol.com] Re: OV: Pepsi challenge? [Alison Bellach ] Re: OV: Pepsi challenge? ["Andrew Douglas" ] OV: Boo-bloody-hoo ["Jen Woyan" ] ---------------------------------------------------------------------- Date: Thu, 6 Mar 2003 22:30:37 -0000 From: "Joe Brady" Subject: OV: Take the Pepsi challenge? Now if Justin and Iain were to drop the Del Amitri brand and rename themselfs would it make any diffrence? At the end of the day they would sound the same,be the same but under a diffrent brand name....Would it be like drinking Coke but wishing it was Pepsi? Confused? You could be? ------------------------------ Date: Thu, 6 Mar 2003 18:02:37 EST From: SngWrite1@aol.com Subject: OV: Pepsi challenge? "A rose by any other name would still smell as sweet." As long as he's writing and singing, I really don't care if Justin decides to rename the band Burnt Mustard Trousers. ------------------------------ Date: Thu, 6 Mar 2003 15:00:52 -0800 (PST) From: Alison Bellach Subject: Re: OV: Pepsi challenge? Dude, that's a cool name for a band. I mean, as cool as "Del Amitri" :) On Thu, 6 Mar 2003 SngWrite1@aol.com wrote: > "A rose by any other name would still smell as sweet." > > As long as he's writing and singing, I really don't care if Justin decides to > rename the band Burnt Mustard Trousers. > > - ------------------------------------------------------------------- Alison Bellach: alibee@delamitri.com http://alibee.linex.com http://www.delamitri.com "If you want peace, work for justice." ------------------------------ Date: Thu, 6 Mar 2003 23:08:58 -0000 From: "Andrew Douglas" Subject: Re: OV: Pepsi challenge? Perhaps they could get sponsored by the Gap. I got a pair of burnt mustard colour trousers there once, as cool now as they were the first time i tried them on. - ----- Original Message ----- From: "Alison Bellach" To: "Opposite View" Sent: Thursday, March 06, 2003 11:00 PM Subject: Re: OV: Pepsi challenge? > Dude, that's a cool name for a band. > I mean, as cool as "Del Amitri" :) > > On Thu, 6 Mar 2003 SngWrite1@aol.com wrote: > > > "A rose by any other name would still smell as sweet." > > > > As long as he's writing and singing, I really don't care if Justin decides to > > rename the band Burnt Mustard Trousers. > > > > > > ------------------------------------------------------------------- > Alison Bellach: alibee@delamitri.com > http://alibee.linex.com http://www.delamitri.com > "If you want peace, work for justice." ------------------------------ Date: Fri, 07 Mar 2003 01:22:06 -0600 From: "Jen Woyan" Subject: OV: Boo-bloody-hoo Posted: Thurs., Mar. 6, 2003, 9:52pm PT Vivendi Uuniversal miserable over $25 bil loss Company mum on sale of showbiz assets By JILL GOLDSMITH - Variety NEW YORK -- Vivendi Universal Thursday posted the largest loss in French corporate history -- $25.2 billion, most of it due to writedowns on entertainment properties. CEO Jean-Rene Fourtou remained coy about the future of the French conglom, noting the company has been "approached by several potential partners" for its U.S. showbiz assets but wouldn't give names or details. "I don't want to give any indication of the businesses we will sell or our negotiations," he said. "I have an idea" what Vivendi will look like in five years, "but I can't tell you," he said during a news conference in Paris. Last year Viv U posted a loss of $11.8 billion, due largely to writedowns on assets. At the time, it was the largest corporate loss in French history. Viv U's loss for 2002 topped the $22.7 billion loss reported Wednesday by France Telecom, the national phone company. "It's not as if I'm in competition with (France Telecom CEO) Thierry Breton," quipped Fourtou. He acknowledged Viv U faces financial pressures and promised to raise $7.7 billion this year to slash debt. But he said a stream of asset sales last year has eased the immediate pressure and allowed Vivendi to pursue deals "without having to put up with undue pressure on behalf of potential buyers." Vivendi's board met Thursday morning and was said to be examining how to proceed with a sale of assets. Fourtou didn't address that meeting. A consortium led by Hollywood oil billionaire Marvin Davis has been pushing Vivendi to speed up negotiations on its $20 billion offer for the Universal assets, including film, TV, music and games. "I am in contact with everyone. Mr. Redstone said I met him in Los Angeles and that's true, but he's not the only one I've seen," Fourtou added. The Viacom chief told an investor conference this week that he met with Fourtou but wasn't interested. Davis' offer of $20 billion for all of U's assets is believed to be the only formal bid. Meanwhile, market conditions are deteriorating. Viv U's losses were inflated by a higher-than-anticipated $20.2 billion impairment charge to write down the value of assets including Vivendi Universal Entertainment ($7.1 billion), Canal Plus ($5.9 billion) and Universal Music ($5.8 billion). Real loss $103 million Excluding one-time charges and restructuring costs, Vivendi lost only $103 million last year and should turn profitable this year, Fourtou said. Revenue rose 4% to nearly $30.7 billion. Debt fell by $9.8 billion. The company said it has $4.4 billion in cash and credit lines and that it's trying to extend its debt maturity to avoid another cash crunch. At Vivendi Universal Entertainment, revenue rose 27% to $6.9 billion and operating income surged 172% to $895 million, due mostly to the acquisition in May of Barry Diller's USA Networks. Pro forma revenue and cash flow both rose 2%. Viv blamed parks, Spencer Gifts and higher programming costs at Universal Television. Chief operating officer Jean-Bernard Levy called the cash flow "disappointing" and 2002 overall "an average year, certainly not extraordinary." He's looking to a strong film slate this year led by "The Hulk." Viv said VUE "will continue to rationalize its operating expenses and improve its cash management" and put in place long-term financing for its $1.78 billion credit facility. Music revs sink Music revenue fell 4% to $6.9 billion and operating income dipped 28% in a tough climate, although market share rose 2.5 points to 28.9%. The music biz is in a global slump with worldwide sales down 10.8% last year. "The Eminem Show" was U's best-selling album. Canal Plus revenue rose 6% to $5.3 billion and operating losses narrowed to $356.5 million from $410.3 million. The company is being restructured around its French assets and Fourtou acknowledged that layoffs would come this year. "The fact that there are too many people on board is very clear to us all, even to the people of Canal Plus," he said. At Universal Games, a strong performer, revenue rose 21% to $870.9 million and operating income jumped to $69 million from $49 million. Last month, Vivendi bought control of French telecom operator Cegetel, which will be consolidated in financial reports from here on. Disparate parts "Vivendi Universal cannot be seen as a coherent company. It's a basket of different businesses that have very little synergy between them. The value of Vivendi can only be assessed by putting together the value of the parts," Fourtou said, insisting that the current low share price doesn't reflect that value. He said interest expense on the company's debt and high taxes related to acquisitions "are two major problems." Vivendi also expressed optimism that investigations by French and U.S. regulatory authorities and shareholder lawsuits won't uncover wrongdoing. The board "has no knowledge of any elements of a nature liable to call into question the decision taken by the company's management on the accounting principles and methods used to establish its accounts," Viv U said. The company will hold its annual shareholders meeting on April 29 in Paris. Vivendi shares fell 4.98% Thursday to $13.56. _________________________________________________________________ Protect your PC - get McAfee.com VirusScan Online http://clinic.mcafee.com/clinic/ibuy/campaign.asp?cid=3963 ------------------------------ End of oppositeview-digest V5 #39 *********************************