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AT&T to Buy Deutsche Telekom’s T-Mobile USA for $39 Billion

A woman enters a T-Mobile store in New York. Photographer: Jin Lee/Bloomberg

AT&T Chief Executive Officer Randall Stephenson. Photographer: Tim Boyle/Bloomberg

AT&T Inc. (T) agreed to buy T-Mobile USA from Deutsche Telekom AG (DTE) in a cash-and-stock transaction currently valued at about $39 billion, a combination that would create America’s largest mobile-phone company.

The purchase price will include $25 billion in cash and the balance in AT&T stock, subject to adjustment, according to a statement today. The deal may give Deutsche Telekom an 8 percent stake in the Dallas-based carrier, which will add a Deutsche Telekom executive to its board of directors.

The deal would allow AT&T, now the second-largest U.S. wireless operator, to add about 34 million customers and surpass Verizon Wireless. The acquisition, the largest in the wireless industry since 2004, may face regulatory scrutiny because it combines the second- and fourth-largest wireless providers, reducing consumers’ choices.

“This is a very surprising deal,” Jonathan Atkin, an analyst at RBC Capital Markets, said in an interview. “AT&T is certainly buying scale. AT&T can integrate T-Mobile from an operations standpoint fairly easily because they use the same technology.”

AT&T said that it would expand the rollout of its high- speed wireless technology, called Long-Term Evolution, or LTE, under the T-Mobile agreement. AT&T will offer the service to an additional 46.5 million people as part of the deal, helping achieve the Federal Communications Commission goal of making broadband available more widely, the company said.
‘Very Confident’

“We studied this thing extensively over the last few months and we’re very confident it will be approved,” Randall Stephenson, AT&T chairman and chief executive officer, said in an interview. “Most local markets have a choice between five carriers, so the space will remain fiercely competitive.”

The agreement has been approved by the boards of both companies, Deutsche Telekom said in a statement.

The deal is the largest for AT&T since the acquisition of BellSouth Corp. in 2006 for about $83 billion, according to data compiled by Bloomberg. It’s the largest takeover to be announced in the wireless industry worldwide since 2004, when Sprint agreed to merge with Nextel Communications Inc., and the sixth- largest mobile-phone deal of all time.

Since taking over as CEO in 2007, Stephenson has focused on growth through wireless services, rather than the multi-billion- dollar acquisitions common under his predecessor, Ed Whitacre. AT&T began selling Apple Inc. (AAPL)’s iPhone in June 2007, and wireless data has since become one of its fastest-growing offerings, with revenue up 27 percent in the fourth quarter.
IPhone Exclusivity

AT&T lost its exclusive hold on the iPhone in the U.S. this year, as Verizon Wireless began selling the device to its customers in February. Analysts estimate Verizon Wireless may sell 11 million iPhones this year, the company said that month.

The T-Mobile deal may give AT&T a way to boost earnings because of the money the companies would save by combining their operations. The companies’ estimate that they could have $40 billion in synergies is a realistic assessment, said Jonathan Chaplin, an analyst with Credit Suisse Group AG.

“Phenomenal deal if it happens,” Chaplin wrote in a research note today. “Huge upside for AT&T; DT getting a great price; however, we believe regulatory risk is enormous.”

In the last five years, the median deal price for a telecommunications company has been 4.5 times earnings before interest taxes depreciation and amortization, according to Bloomberg data. Deutsche Telekom said the purchase price is multiple of 7.1 times 2010 adjusted EBITDA.
Regulatory Issues

The deal drew criticism for its potential to reduce the number of wireless competitors.

“Don’t believe the hype,” S. Derek Turner, research director the Washington-based advocacy group Free Press, said in a statement today. “There is nothing about having less competition that will benefit wireless consumers.”

There were 296.3 million wireless subscribers in the U.S. at the end of 2010, according to estimates from researcher eMarketer. Adding AT&T and T-Mobile would give the combined companies 38.8 percent of that total, according to data from eMarketer and ComScore Inc., while Verizon Wireless has 31.3 percent.

To get the deal through, regulators might require that T- Mobile and AT&T divest some operations or agree to certain conditions, such as promising to build out their network in certain, underserved markets, said Roger Entner, an analyst at Recon Analytics in Boston.
AT&T Financing

Still, the combination would help alleviate some of the spectrum crunch that regulators have been struggling with, he said. The two companies would be able to share airwaves, which may help persuade the FCC and the Department of Justice to approve the deal, Entner said.

Robert Kenny, a spokesman for the FCC, which is to review the deal alongside antitrust authorities, declined to comment.

Deutsche Telekom held talks about selling T-Mobile USA to Sprint Nextel Corp. (S) in exchange for a stake in the combined entity, people with knowledge of the matter said this month. The companies hadn’t been able to agree on the valuation of T-Mobile USA, the people said.

The unit, which accounts for about a quarter of Deutsche Telekom’s revenue, has reported declining earnings as it missed out on the iPhone and it lagged behind competitors in building out a higher-speed wireless network.
Cash and Stock

AT&T said the cash part of the purchase price will be financed from the holdings on AT&T’s balance sheet and new debt. AT&T has an 18-month commitment for a $20 billion unsecured bridge loan from JPMorgan Chase & Co. (JPM) The company is not assuming any debt from T-Mobile or Deutsche Telekom.

AT&T has the right to increase the $25 billion cash portion of the purchase price by up to $4.2 billion, offset by a reduction in stock, as long as Deutsche Telekom receives at least 5 percent equity interest in AT&T, the company said. The number of AT&T shares issued will be based on a 30-day average prior to closing. That is subject to a collar that protects Deutsche Telekom from price fluctuations of more than 7.5 percent.

AT&T rose 20 cents to $27.94 in New York Stock Exchange composite trading on March 18. The stock had declined 4.9 percent this year. Deutsche Telekom, little changed this year, fell 1.3 percent to 9.59 euros in Frankfurt trading.

The T-Mobile transaction, subject to regulatory approval, is expected to close in about a year, AT&T said. AT&T was advised by JPMorgan, Greenhill & Co. and Evercore Partners on the deal.

Cameco, Coach, First Solar, Kid Brands, LDK: U.S. Equity Movers

Cameco, Coach, First Solar, Kid Brands, LDK: U.S. Equity Movers
March 15, 2011, 4:38 PM EDT

By Jennifer A. Johnson

March 15 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.

Solar and wind power stocks rallied for a second day on speculation that clean energy will benefit in the aftermath of Japan’s nuclear-reactor accident.

First Solar Inc. (FSLR US) added 8.2 percent to $158.91 for the biggest gain in the Standard and Poor’s 500 Index. Trina Solar Ltd. (TSL US) gained 8.8 percent to $28.28. LDK Solar Co. (LDK US) rose 9.3 percent to $12.66. SunPower Corp. (SPWRA US) jumped 11 percent to $16.07, the second-biggest gain the Russell 1000 Index.

Broadwind Energy Inc. (BWEN US) rose 10 percent to $1.38. The maker of wind towers reported fourth-quarter revenue of $47.6 million, beating the average analyst estimate of $46.9 million, Bloomberg data show.

Retailers with operations in Japan declined on speculation that store closures and shortened hours will reduce sales. Coach Inc. (COH US) fell 2.5 percent to $52.02. The maker of luxury handbags shut 20 of its 165 stores in Japan and cut staff and shortened hours at others, said Andrea Resnick, a spokeswoman for the New York-based company. Tiffany & Co. (TIF US) fell 3.6 percent to $57.68. The luxury jewelry retailer said it closed some of its 55 outlets in Japan.

Uranium stocks slumped on demand concerns after the Japan nuclear power accidents. Denison Mines Corp. (DNN US) fell 7.1 percent to $2.37. Uranium Energy Corp. (UEC US) erased 4.6 percent to $3.74. Uranium Resources Inc. (URRE US) dropped 9.7 percent to $1.58. Ur-Energy Inc. (URG US) declined 13 percent to $1.59. USEC Inc. (USU US) slipped 5 percent to $4.36. Paladin Energy Ltd. (PALAF US) dropped 8.9 percent to $3.45.

The S&P 500 Insurance Index declined to the lowest level since Jan. 21 on concern that operations and investments in Japan will be hobbled. Aflac Inc. (AFL US), which gets most of its revenue in Japan, slipped 5.6 percent to $50.89. Hartford Financial Services Group Inc. (HIG US) sank 4.6 percent to $25.60. MetLife Inc. (MET US) fell 3 percent to $43.40. Prudential Financial Inc. (PRU US) slipped 1.9 percent to $60.09.

Brown Shoe Co. (BWS US) declined 19 percent to $11.56, the third-biggest loss in the Russell 2000 Index. The operator of the Naturalizer and Famous Footwear shoe-store chains reported fourth-quarter adjusted earnings of 8 cents a share, missing the average analyst estimate of 15 cents a share, Bloomberg data show.

CompuCredit Corp. (CCRT US) jumped 11 percent, the most since Oct. 5, to $6.93. The marketer of credit cards to subprime borrowers said it offered to buy as many as 13.1 million shares of its stock for $8 a share.

Dole Food Co. (DOLE US) declined 8.8 percent, the most since its initial public offering in October 2009, to $13.06. The global fruit producer reported a fourth-quarter loss of 31 cents a share, excluding some items, missing the average analyst estimate of a profit of 18 cents a share, Bloomberg data show.

ICO Global Communications (Holdings) Ltd. (ICOG US) gained 42 percent, the most since August 2009, to $2.73. The satellite communications company’s sale of its DBSD North America, Inc. subsidiary to Dish Network Corp. (DISH US) gained approval from a U.S. Bankruptcy Court in New York. ICO will receive $324.5 million under the agreement.

Impax Laboratories Inc. (IPXL US) rose 16 percent to $25.52, the highest price since it went public in 1995. The maker of generic drugs said its phase III clinical study of the safety and efficacy of IPX066 for the treatment of Parkinson’s disease showed “statistically significant, positive” results.

Kid Brands Inc. (KID US) fell the most in the Russell 2000, plunging 25 percent to $6.91. The maker of infant furniture and toys said it had dismissed two senior managers as part of an investigation into incorrect payments of customs duties. The company delayed the filing of its fourth-quarter earnings and annual report.

Netflix Inc. (NFLX US) climbed 7.9 percent to $217.11 for the second-biggest gain in the S&P 500. The mail-order and online movie-rental service was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

Williams-Sonoma Inc. (WSM US) rallied 13 percent to $39.38, the highest price since May 2006. The gourmet-cookware retailer reported fourth-quarter profit of $1.08 a share, beating the average analyst estimate by 9.9 percent, according to Bloomberg data.

Yahoo! Inc. (YHOO US) fell 5.7 percent, the most in the S&P 500, to $16.33. The most-visited U.S. Web portal owns 35 percent of Yahoo Japan Corp. and was in talks to sell the stake, people familiar with the matter said this month.

--With assistance from Nikolaj Gammeltoft in New York. Editors: Stephen Kleege, Joanna Ossinger

Top Gear Nissan GTR vs bullet train

rango

review from early screening..

..............................
Gore Verbinski's RANGO smart, dark and a kickass western!
Published on: Feb 10, 2011 4:20:30 AM CST

I think it’s safe to say that a subtle shift is occurring in the world of animation. For anyone who has seen Akira, anything by Hayao Miyazaki, or even Fantasia for that matter (just to name a few), it’s pretty clear that animation is capable of being anything, of encompassing any kind of material. And yet still so many people are stuck in the mindset that animated films are “just kid’s movies.” That kind of thinking has always baffled me, even if I understand where it’s coming from. We live in a Disney world, and even though I love classic Disney fairy tales as much as the next guy (possibly even more so) I am deeply aware of the kind of expectations they have impressed upon any animated fare. But with the rise of films like Wall-E, Up, and Toy Story 3, movies that each push the boundaries of storytelling in American animation in different ways, animation finally seems to be to spreading its wings with audiences thankfully eating it up.

Enter Rango, a film I would not ever deem to be a kid’s film in a million years. Sure, it’s about a chameleon going through an identity crisis as he wanders his way into a small western town inhabited by all kinds of desert critters, including a trigger happy Gila monster, a Native American crow, and a tortoise mayor, but in many ways this is the most adult animated film I’ve seen in quite some time. It’s smart, it’s dark, and above all, it’s dangerous.

At least it feels that way. The film is full of some surprisingly dark imagery and situations, and even though nothing explicit is ever actually put on screen, it sure as hell feels like it is, which ostensibly gives the film some nice heft. Just look at the main villain of the film, Rattlesnake Jake. The way the townsfolk describe him before he even makes his grand appearance is downright frightening, comparing him to the grim reaper, death incarnate. And once he finally does come to town, he’s terrifying, a humongous beast compared to the small size of the rest of the townspeople, armed with a truly threatening machine gun attachment at the end of his rattler. No, you don’t really see him kill anybody or anything onscreen (not violently, at least), but you don’t have to. He’s a menacing creature, the type of dangerous villain that is hard to come by in family films nowadays, and it’s exactly that sense of danger, the feeling that things may not actually work out, that Rango may just end up losing in the end, that pervades through the film and that made me fall in love with it in such a way that I was not expecting.

But nothing could have done that more so than the way in which the film simply carries itself. There is no doubt about it; Rango is a real western through and through. From the photography, to the thrilling shootouts and chases, to the immersive mystery about the town’s missing water, complete with its surprisingly ballsy reveal, the film takes itself deadly seriously. It does have its fair share of clever gags, but they’re just that: clever. They don’t feel out of place or thrown in just to alleviate the tension, but rather all come across organically, as part of the world and the characters. A couple jokes do fall flat here and there, but those are a small minority, and even then, the film seems less interested in being a comedy than being a kickass western.

Ultimately, though, the heart of the film lies entirely with the character of Rango and his spiritual journey. And yes, you read that right. The film isn’t just about the wacky antics that a chameleon gets into, a la the traditional fish out of water story. The story instead focuses very much on the idea of finding yourself. Rango is a lost soul, literally nameless until he winds up in the town of Dirt, unsure of what or who he is. And when he walks into a saloon full of creatures who know nothing about him, he takes advantage of the opportunity presented to make a name for himself, to finally be someone. It just so happens that in doing so he ends up in over his head. It’s a great story with a great message about finding your place in the world and being who you want to be and as a result, Rango’s transformation by the end of the film feels completely and totally earned.

It’s exciting to see Gore Verbinski back in the saddle and retaking the reins as well as he does. He and his team have created a wonderfully realized world in Rango and the town of Dirt, keeping all of the animals to scale and making the town feel like it came out of a classic western, but with little flourishes that make it uniquely its own thing. Rango will be walking down the road, passing the saloon, the bank, and all of a sudden he passes an outhouse made out of a discarded Pepto-Bismol bottle. It’s little quirks and visual gags like that that really make the film stand out that much more, and thus earning my love that much quicker.

Verbinski never tips his hand with the film though, keeping a very fine balance between the light and the heavy, the real and the surreal, the culmination of which results in the two most beautifully constructed scenes in the film, one involving Rango’s journey across some extremely rough terrain (you’ll know the scene when you see it) and one involving the Spirit Of The West, a scene so delightful that it would be a crime for anyone to spoil it. And it is because of this balance that I would not call Rango a kid’s film in any sense of the term. I don’t even want to call it a family film, though I’m sure it would play well amongst parents with older children. Instead, I would much rather just call it what it is: a western, and a damn fine one at that.

Nickelodeon is taking a ballsy chance with this film. It’s not at all like the trailers make it out to be. It’s a smart film, and even though it’s not nearly as extreme as Akira or Fritz The Cat or any explicitly adult animation, it’s nonetheless an animated film that pushes the boundaries in all the right ways, and I can only hope that enough people will see it so Nickelodeon or other studios might actually continue to take these kinds of chances on animated films. This isn’t your run of the mill animated fluff. Rango is something special.

http://www.aintitcool.com/node/48430

this is dangerous...people will see u naked!!

iPhone 4

The iPhone 4 is a touchscreen smartphone developed by Apple. It is the fourth generation of iPhone, and successor to the iPhone 3GS. It is particularly marketed for video calling, consumption of media such as books and periodicals, movies, music, and games, and for general web and e-mail access. It was announced on June 7, 2010, at the WWDC 2010 held at the Moscone Center, San Francisco,[7] and was released on June 24, 2010, in the United States, the United Kingdom, France, Germany and Japan.

The iPhone 4 runs Apple's iOS operating system, the same operating system as used on previous iPhones, the iPad, and the iPod Touch. It is primarily controlled by a user's fingertips on the multi-touch display, which is sensitive to fingertip contact.

The most noticeable difference between the iPhone 4 and its predecessors is the new design, which incorporates an uninsulated stainless steel frame that acts as the device's antenna. The internal components of the device are situated between two panels of chemically strengthened aluminosilicate glass.[8] It has an Apple A4 processor and 512 MB of eDRAM, twice that of its predecessor and four times that of the original iPhone. Its 3.5-inch (89 mm) LED backlit liquid crystal display with a 960×640 pixel resolution is marketed as the "Retina Display".

The latest operating system release, iOS 4.2.1, added functionality such as AirPrint, and AirPlay.

Diamond Shapes

Diamond Shapes

The classic diamond is, to most people, a round gem of sparkling white brilliance with a kaleidoscope of dazzling facets to entice the eye.

Yes and no. Diamonds are natural crystals of varying size and shape formed in the earth over millions of years. The traditional round brilliant diamond, though the most popular diamond shape of all, is hardly the whole story.

By the diamond cutter's art these crystals are carved into gems of spectacular and whimsical beauty. A cutter's skill will produce a diamond of the greatest size with the fewest flaws and the most brilliance.

Round Brilliant Diamonds
This shape has set the standard for all other diamond shapes, and accounts for more than 75% of diamonds sold today. Its 58-facet cut, divided among its crown (top), girdle (widest part) and pavilion (base), is calibrated through a precise formula to achieve the maximum in fire and brilliance.

Oval Diamonds
An even, perfectly symmetrical design popular among women with small hands or short fingers. Its elongated shape gives a flattering illusion of length to the hand. Learn more about Oval Diamonds

Marquise Diamonds
An elongated shape with pointed ends inspired by the fetching smile of the Marquise de Pompadour and commissioned by the Sun King, France's Louis XIV, who wanted a diamond to match it. It is gorgeous when used as a solitaire or when enhanced by smaller diamonds.

Pear Shaped Diamonds
A hybrid cut, combining the best of the oval and the marquise, it is shaped most like a sparkling teardrop. It also belongs to that category of diamond whose design most complements a hand with small or average-length fingers. It is particularly beautiful for pendants or earrings. Learn more about Pear Shaped Diamonds

Heart Shaped Diamonds
This ultimate symbol of romance is essentially a pear-shaped diamond with a cleft at the top. The skill of the cutter determines the beauty of the cut. Look for a stone with an even shape and a well-defined outline. Learn more about the Heart Shaped Diamond

Emerald Cut Diamond
This is a rectangular shape with cut corners. It is known as a step cut because its concentric broad, flat planes resemble stair steps. Since inclusions and inferior color are more pronounced in this particular cut, take pains to select a stone of superior clarity and color. Learn more about the Emerald Cut Diamond

Princess Cut Diamond
This is a square or rectangular cut with numerous sparkling facets. It is a relatively new cut and often finds its way into solitaire engagement rings. Flattering to a hand with long fingers, it is often embellished with triangular stones at its sides. Because of its design, this cut requires more weight to be directed toward the diamond's depth in order to maximize brilliance. Depth percentages of 70% to 78% are not uncommon. Learn more about the Princess Cut Diamond

Trilliant Diamonds
This is a spectacular wedge of brittle fire. First developed in Amsterdam, the exact design can vary depending on a particular diamond's natural characteristics and the cutter's personal preferences. It may be a traditional triangular shape with pointed corners or a more rounded triangular shape with 25 facets on the crown, 19 facets on the pavilion, and a polished girdle. It is definitely for the adventurous.

Radiant Cut Diamonds
This square or rectangular cut combines the elegance of the emerald shape diamond with the brilliance of the round, and its 70 facets maximize the effect of its color refraction. Because of its design, this cut requires more weight to be directed toward the diamond's depth in order to maximize brilliance. Depth percentages of 70% to 78% are not uncommon. Learn more about the Radiant Cut Diamond

Cushion Cut Diamond
An antique style of cut that looks like a cross between an Old Mine Cut (a deep cut with large facets that was common in the late 19th and the early 20th centuries) and a modern oval cut. Learn more about the Cushion Cut Diamond

The shape of things to come in diamonds has already produced other fanciful and innovative styles such as the flower, cloverleaf, triangle and kite. Nor does it stop there. Some cuts are variations on standard shapes, others spin off the natural crystal formation of the stone, and still others take the idea of shape to revolutionary new heights. Individuality and taste determine the fashion, and the magic of the gem cutter transforms each stone into a unique work of art.

JonSuperWii