Austin, TX 11/6/2007 10:51:01 PM
Speak with other shareholders about: (NYSE: TWX), (NYSE: C), (NASDAQ: JAVA).
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Nov. 5, 2007 -- Dick Parsons will depart as CEO of Time Warner Inc. (NYSE: TWX) at the end of the year, five years after taking the helm of the world's largest media conglomerate and rebuilding its
stature following a disastrous merger with AOL. Parsons, who is 59, will be replaced on Jan. 1 by the 55-year-old Jeff Bewkes, a former head of HBO who is currently the company's chief operating
officer, Time Warner said Monday. Parsons will stay on as chairman. The CEO changeover had been widely expected. Parsons' contract runs through next May, but Bewkes has been groomed as Parsons'
successor for the past several years.
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Nov. 5, 2007 -- Charles Prince is walking out Citigroup's (NYSE: C) doors with potentially millions in his pocket, leaving behind a bank that many believe needs serious therapy. Investors are not
only worried about the $8 billion to $11 billion the bank expects to slash on its investments. They're also concerned that Prince's successor as CEO may not administer the bitter medicine many say
the bank needs to revive, including lancing some of its businesses. Citigroup Inc. shares plunged $1.78, or 4.7 percent, to $35.94 in late trading Monday.
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Nov. 5, 2007 -- Sun Microsystems Inc. (NASDAQ: JAVA) swung to a first-quarter profit that matched Wall Street's expectations Monday, marking the server and software maker's first full year in the
black since the dot-com meltdown. Bolstered by stronger sales of its high-end servers and improved cost controls, the Santa Clara, Calif.-based company's net income was $89 million, or 3 cents per
share for the three months ended Sept. 30, matching the average estimate of analysts surveyed by Thomson Financial. During the year-ago period, Sun lost $56 million, or 2 cents per share.
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