Inso Corporation, of Providence debuts new name, ticker symbol
PROVIDENCE – Inso Corporation has changed the company’s name to eBT International, Inc. The company’s ticker symbol was also being changed — to EBTI, effective upon the opening of trading on Aug. 29, 2000.The company will continue to do business under the name eBusiness Technologies. The name change reflects the company’s decision to concentrate its resources exclusively on its e-business products and services, and follows the completion of the sale of Inso Corporation’s non-core assets last month.
”This is an important event for us as we emerge as a single-focus Internet company,” said James Ringrose, president and chief executive officer of eBT International, Inc. “This name change underscores our commitment to the Web content management space and will help us build our brand as we continue to strengthen our market position. Over the past few months, we have demonstrated the well-defined direction that the company has taken with eBusiness Technologies at the forefront. This name embodies that strategy”
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
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eBT International, Inc. – doing business as eBusiness Technologies – develops and markets products, services and best practices for delivering sophisticated business-to-business and business-to-consumer applications via the Web. eBusiness Technologies’ list of global clients includes 3Com Corporation, AT&T, Quantum Corporation, GTE, DirecTV, Cisco Systems and UUNet.
Headquartered in Providence, eBusiness Technologies has offices throughout the United States and Europe.
High-tech industry urges Congress on key issues, chief among them trade with China
WASHINGTON, DC – The nation’s leading high-tech organization, the American Electronics Association, is calling on federal lawmakers to take prompt action on some key legislative issues.
”With the election season now upon us, time is running short, so expeditious action is paramount,” said AEA’s President and Chief Executive Officer William T. Archey. “In particular, legislation that will open up the world’s largest market, China, and help alleviate shortages of high-skilled workers is essential to the continuing vitality of the high-tech industry. And since our industry has been largely driving the U.S. economy to record prosperity, this legislation is also essential to the national economic interest.”
AEA identified the following legislation that it said should receive the highest priority for action by Congress:
a.. PNTR for China: AEA stressed that the Senate should grant permanent normal trade relations status (PNTR) to China absent of any amendments. It warned that legislation intended to impose unilateral sanctions on China for weapons proliferation “could threaten the very benefits that PNTR will offer the U.S.”
b.. H-1B Visas: AEA said that shortages of high-skilled workers continues to “shortchange the American economy” by limiting the capacity of high-tech firms to grow and innovate. To help alleviate these shortages, AEA called on Congress to enact legislation to lift the H-1B visa cap on the number of foreign professionals that high-tech companies could hire. AEA also released a new report, “Supply Doesn’t Equal Demand,” that provided data on the factors causing these shortages: record low unemployment in the high-tech job sectors, surging demand for skilled workers, and declines in the number of individuals receiving high-tech degrees.
c.. Foreign Sales Corporation (FSC): AEA urged support for legislation designed to end the long controversy between the United States and the European Union (EU) over the tax treatment of certain foreign source income. AEA said that without this legislation, American high-tech firms would be placed at a “major competitive disadvantage relative to their European competitors.”
CMGI to Pare Venture Funds, Holdings in Profit Quest
ANDOVER, Mass. — CMGI Inc., its shares down two-thirds since April, said it will pare its stable of companies and venture funds, as the Internet investment company tries to hasten the day it will generate operating profits. Andover, Massachusetts-based CMGI will fire an unspecified number of workers; it will cut its majority-owned companies to as few as five from 17, merging some and, for the first time, selling others. CMGI will also forego plans to start an international venture fund with Dallas-based buyout firm Hicks, Muse, Tate & Furst and Hong Kong’s Pacific Century Cyberworks Ltd.
CMGI, which first sold shares to the public in January 1994 when it was a direct-marketing company, evolved into a venture capital firm over the past five years and hasn’t recorded a quarterly operating profit since July 1995. Its shares plunged this year after a more than 800-fold surge in its first six years.
Peapod Buys Streamline.com Operations for $12 Million
Skokie, Illinois (Bloomberg) — Peapod Inc., the online grocery unit of Royal Ahold NV, parent of Stop & Shop, said it bought the Chicago and Washington operations of Streamline.com Inc. for about $12 million in cash as it exits Ohio and Texas markets. Peapod will receive Streamline.com’s Washington distribution center, located in Gaithersburg, Maryland, and its Lake Zurich, Illinois, facility, which serves the Chicago area. It will keep workers and management at the facilities. Royal Ahold, based in Zaandam, Netherlands, owns Stop & Shop grocery stores and is the fifth-largest supermarket retailer.
