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Dow wows Wall Street
The Dow Jones industrial average catapulted Wednesday, posting its biggest point gain since October 1998, as investors dumped high-flying technology stocks, replacing them with unloved drug makers and financials. Click here for full CNNfn coverage. http://www.cnnfn.com/news/specials/eyes_on_market/ FreeMarkets in $325M deal E-business auctioneer buys online used-equipment, inventory marketplace Online business auctioneer FreeMarkets Inc. announced on Wednesday that it will acquire privately held iMark.com, which operates an online surplus marketplace, for $325.1 million in stock. Through the deal, FreeMarkets (FMKT: Research, Estimates) aims to be a leader in the business-to-business online surplus asset space by combining its online auction business with iMark.com's focus on surplus equipment and inventory. http://www.cnnfn.com/2000/03/15/deals/wires/freemarkets_wg/ Phillips buys Arco assets Phillips Petroleum Co. agreed Wednesday to purchase Atlantic Richfield Co.'s oil-producing assets in Alaska for roughly $7 billion, clearing away a major concern of federal officials who had sought to block BP Amoco's $27.1 billion buyout of Arco for antitrust reasons. http://www.cnnfn.com/2000/03/15/deals/arco/ Sema buys LHS for $4.7B Computer services company Sema agreed to buy Atlanta-based LHS Group Wednesday, in a $4.7 billion stock deal aimed at boosting Sema's reach into the booming mobile communications and Internet services market. http://www.cnnfn.com/2000/03/15/europe/sema/ AEP merger deal approved Federal regulators OK AEP deal to create nation's largest utility company Federal regulators Wednesday ended years of wrangling and approved the merger of American Electric Power Co. Inc. and Central and South West Corp., creating an electric mega-utility supplying power to millions in 11 states from Michigan to Texas. The merger will create the nation's largest electric utility based on generating capacity. The combined company, to be called American Electric Power, will control 38,000 megawatts of generation or about five percent of total U.S. capacity. http://www.cnnfn.com/2000/03/15/deals/wires/utility_wg/ eBay enters B2B fray eBay launched a new exchange Wednesday featuring such items as office equipment, computers, software and other tools aimed at small businesses. http://www.cnnfn.com/news/technology/ Robertson chairman resigns Investment firm Robertson Stephens chairman McCaffrey leaves in September Robertson Stephens announced on Wednesday that its chairman, Mike McCaffery, will leave the investment firm in September to manage Stanford University's $7.9 billion investment portfolio. In January, McCaffery, 46, was promoted to chairman, a position created for him, after six years as chief executive at the growth-oriented investment bank that focuses on the technology sector. http://www.cnnfn.com/2000/03/15/companies/robertson/ Inference and WellBid Explore Ways to Provide Knowledge Management and e-Business Solutions to the Oil and Gas Industry WellBid Looks to Extend Its Use of Inference k-Commerce Support Technology Beyond Web-based Self-Service Customer Support Inference Corp. (Nasdaq:INFR - news), a leading provider of personalized, one-to-one sales, service and support solutions over the Web and WellBid, Inc., the leading provider of online procurement solutions for well-related oil and gas activity, announced today at the E-Commerce: Oil and Gas -- Realities and Lessons Learned conference in Houston that the companies have signed an agreement to evaluate the development, marketing, integration and distribution of knowledge management and e-Business solutions for the exploration and production (E&P) sector of the oil and gas industry. http://biz.yahoo.com/bw/000315/tx_inferen_1.html pennNET Unveils Oil & Gas Journal Exchange at Houston E-Commerce Show Context Integration Plays Pivotal Role in Building B2B Exchange For Oil and Gas Industry pennNET (www.pennNET.com), a leader in creating secure, reliable e-marketplaces for business professionals in critical global markets, today announced that Context Integration (www.context.com), has completed the integration of back-end auction technology into pennNET's Oil & Gas Journal Exchange site (www.OGJExchange.com). As a leading Internet professional services firm, Context Integration designed, developed and deployed a seamless integration between Ariba's Market Suite(TM), a leading-edge application which provides dynamic pricing, and Oil & Gas Journal Exchange's existing user interface and rich content. The solution makes pennNET's flagship e-commerce hub, Oil & Gas Journal Exchange, the first fully Web-enabled producing property auction for the oil and gas industry. http://biz.yahoo.com/bw/000315/ca_pennnet_1.html DownstreamEnergy.com Launches E-commerce, Online Community Portal for Refined Petroleum Products Industry - DownstreamEnergy.com has launched its business-to-business Internet solution for the refined products energy industry. This new e-commerce portal will give wholesalers and suppliers real-time product pricing, aggregated market information, historical market analysis, two-way communication, excess inventory marketability, and true integration of pricing and inventory data into internal scheduling and accounting systems via the desktop. DownstreamEnergy.com's ``Integrated Information Online'' portal will build an e-business community where both suppliers and wholesalers benefit from decreased transaction completion time, lower communications costs, increased liquidity, enhanced transaction efficiency and inventory management capabilities, and expanded cost-effective marketing capabilities. http://biz.yahoo.com/prnews/000315/tx_downstr_1.html Energy Argus Inc. to Carry Earthsat Corp. Weather Information Tailored for the Electricity Trading Community Energy Argus Inc. has entered into an agreement with Earthsat Corp. to publish weather information tailored to the electricity trading community. Earthsat, in cooperation with Energy Argus has developed a set of temperature forecasts for the various power trading regions around the country. The forecasts use population-averaging and departures from normal to deliver an accurate indication of temperature impact on electricity demand in Cinergy, Entergy, PJM, New England, New York, TVA, ERCOT, ComEd, MAIN, MAPP and WSCC. All the information is displayed on one page, enabling traders to gauge weather impact on power prices at one glance. http://biz.yahoo.com/prnews/000315/md_energy__1.html Made2Manage Systems Brings VerticalNet Manufacturing Content to Customers Through New m2mEport.com Web Site New Collaboration Provides Small and Midsize Manufacturers the Ability to Research and Locate Tools and Industry Information that Meet Their Exact Specifications As part of its ongoing strategy to provide small and midsize enterprises with the tools and resources previously available only to larger manufacturers, enterprise business system provider Made2Manage Systems, Inc. announced today at National Manufacturing Week that it has partnered with VerticalNet, Inc. to power sections of the Marketplace Center within its new m2mEport.com Web site. Made2Manage will make available three VerticalNet Manufacturing and Metals vertical business-to-business market communities on its m2mEport.com Web site. These include: machinetoolsonline.com, metrologyworld.com, and toolingonline.com http://biz.yahoo.com/prnews/000315/in_made2ma_2.html InSITE SERVICES Secures Funding From Leading Venture Capital Firm; Greystone Capital Leads Second-Round of Funding InSITE SERVICES LLC, the pioneering application service provider that fosters next-generation utilities through strategic, customer-focused, and Web-enabled billing solutions, announced today the successful completion of second-round funding from Atlanta-based Greystone Capital Group, LLC. http://biz.yahoo.com/prnews/000315/ny_insite__1.html Iridium satellites may go down in flames Iridium, a U.S. satellite telephone company operating under bankruptcy protection, is on the verge of one of the most spectacular business flameouts ever--literally set to burn up billions of dollars' worth of Earth-orbiting assets. Barring the last-minute arrival of a qualified buyer, the company plans to begin "de-orbiting" the 66 satellites that make up the world's first low-orbit system for wireless telephone service. That means the first global satellite telephone network--variously reported to have cost $5 billion to $7 billion--would be vaporized as its satellites, bumped by their thrusters, plunge from 485 miles (781 km) above the Earth to burn up over the ocean. http://news.cnet.com/news/0-1004-200-1573481.html?tag=st.cn.1.lthdne Online stock trading goes wireless Add online stock trading to the list of Web activities soon to be untethered. Online brokerages Suretrade and Quick & Reilly plan to offer trading over wireless devices as early as next week, joining an elite group of e-tailers and brokerages that are positioning themselves in anticipation of widespread wireless Internet access. Both online discount brokers, subsidiaries of FleetBoston Financial, will offer wireless trading services in three ways: through Palm Computing's Palm III, V, and VII devices; over cellular phones with Internet capability; and via pagers manufactured by Research in Motion (RIM). http://news.cnet.com/news/0-1007-200-1573506.html?tag=st.ne.ron.lthd.1007-200- 1573506 E-commerce firms hip to B2B before it was hot Business-to-business e-commerce is all the rage these days, but a few consumer e-commerce companies such as eBay entered the market before it was hot. The leading auction house opened a small-business exchange today where companies can buy everything from computer printers to nail guns. But the move is more of a change in marketing than a sudden shift in focus, analysts say. Business trades have been quietly happening on eBay for some time, and its format inspired many of the exchanges that have cropped up, such as AutoExchange and Chemdex. http://news.cnet.com/news/0-1007-200-1573358.html?tag=st.ne.ron.lthd.1007-200- 1573358 NetTrends: Battle of the E-Marketplace Everybody wants to be a marketplace. In sectors from cars to chemicals to food ingredients, companies are trying to join all of the participants into Internet-based markets for their industries in hopes of making businesses more efficient. In some cases, they're taking the idea a step further, setting up virtual markets that collect fees for all of the goods traded, creating what they hope are highly valued companies in the process. Agricultural giant Cargill was the latest to join the trend, creating a market for the $300 billion food industry this week. The Big Three automakers recently launched a combined e-commerce venture for auto parts ordering that they said would handle $500 billion in parts ranging from glass to semiconductors. http://www.mercurycenter.com/svtech/news/breaking/internet/docs/321401l.htm Telmex, Microsoft to launch Web portal for Spanish-speakers Mexican businessman Carlos Slim, Latin America's richest man, will March 21 meet the world's wealthiest, Microsoft Corp. Chairman Bill Gates, to launch a Web portal aimed at Spanish-speakers from Canada to Patagonia. The entrepreneurs will launch the Internet site ``T1'' from Miami, Florida, a source close to the organisation committee told Reuters Wednesday. http://www.mercurycenter.com/svtech/news/breaking/merc/docs/012407.htm Allegis CEO Says Partner Relationship Management Is an Essential B2B eCommerce Enabler META Group Says 90 Percent of Global 2000 Companies Will Participate In Partner Relationship Management Communities by 2003/4 At the Credit Suisse First Boston etc.2000 eBusiness Technology Conference today, Allegis Corporation president and CEO Dennis Ryan addressed an elite group of investors and research analysts interested in learning more about a new category of business-to-business ecommerce enabling solutions called Partner Relationship Management (PRM).
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