Subject: [NEXTEL-1] Some Shareholders Urge a Faster, More Decisive Motorola

From: Marcel <[email-masked]>
Date: Thu, 08 May 2003 12:54:20 -0400

Some Shareholders Urge a Faster, More Decisive Motorola

Some shareholders attending Motorola's annual meeting today say the
company needs to move faster and more decisively. Though Motorola has
returned to profitability, has introduced a number of popular new phones and
has seen some improvement in its chip business, some shareholders say that
it should consider selling the chip business, as well as the wireless network
equipment business, and make further job cuts. Others say that CEO
Christopher Galvin is too emotionally tied to the company and cannot make the
tough decisions necessary to reinvent the company. They say he should step
aside. More supportive shareholders point to Motorola's return to profit, and its
new cell phones as signs that it is moving in the right direction. Separately,
Turkey's Telsim, the country's second-largest wireless company, took out ads
in the Wall Street Journal, the New York Times, the International Herald
Tribune, and the Washington Times enc ouraging shareholders to question
Motorola's decision to sue the Uzan family, Telsim's owners. The suit, brought
by Motorola and Nokia, alleges that the Uzans borrowed billions from the
companies with no intention of repaying the money. The Uzans say the matter
should be resolved through a Swiss arbitration court, not in a U.S. court.
(Source: Reuters, Telsim Ad Campaign --Reuters)

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