It appears you have not yet registered with our community. To register please click here...

 
Go Back [M] > Madshrimps > WebNews
Gates buys a slice of the FCC Gates buys a slice of the FCC
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read


Gates buys a slice of the FCC
Reply
 
Thread Tools
Old 23rd October 2013, 08:30   #1
[M] Reviewer
 
Stefan Mileschin's Avatar
 
Join Date: May 2010
Location: Romania
Posts: 47,259
Stefan Mileschin Freshly Registered
Default Gates buys a slice of the FCC

We thought it was a bit of surprising news this morning when we discovered that the recently squeaky clean Sir William Gates III has been caught writing cheques to buy a slice of the FCC.

After all, we would have hoped that the Federal Communications Commission watchdog would have been untouchable. But it turns out that Gates is particularly interested in a Spanish construction outfit which goes by the same acronym.

The Economic Times said that Gates has bought six percent of Spanish construction company FCC for $155 million. We would have thought that given the economic pain in Spain, a construction firm is not a particularly wise investment.

The FCC was badly hurt by Spain's property and construction crash, with shares losing around 80 percent of their value since their 2007 peak at the height of the country's housing boom.

True, FCC share prices have doubled as investors welcomed the company's moves to sell off assets to pay down its debt, make write-downs on bad investments and win a multibillion euro contract to build a metro in Riyadh in Saudi Arabia.

What is also possible is that Gates was helping out a mate and someone he wants to work closer to people with his philanthropic efforts.

The FCC's chairwoman is Ester Koplowitz, one of Spain's wealthiest businesswomen and, like Gates is spending a lot of her dosh helping other countries and the poor.

http://news.techeye.net/business/gat...ice-of-the-fcc
Stefan Mileschin is offline   Reply With Quote
Reply


Similar Threads
Thread Thread Starter Forum Replies Last Post
Murdoch wants a bigger slice of AllThingsD Stefan Mileschin WebNews 0 19th February 2013 09:04
Kodak offloads patents for $525 million, Apple and Google both grab a slice Stefan Mileschin WebNews 0 20th December 2012 10:39
Fringe clips slice the amber Stefan Mileschin WebNews 0 1st October 2012 08:44
Sony Xperia U review: a little slice of Android that punches above its weight Stefan Mileschin WebNews 0 7th June 2012 08:30
Samsung's Focus 2 arrives at AT&T today, a slice of LTE-equipped Mango for $50 Stefan Mileschin WebNews 0 21st May 2012 10:03
The Wit and Wisdom of Bill Gates jmke WebNews 0 21st June 2006 09:16
Gates: End to passwords in sight Sidney WebNews 0 15th February 2006 04:12
Gates vs. Jobs: who is the good guy? jmke WebNews 2 28th January 2006 16:06
GM's response to Bill Gates Liquid3D Off-Topic Hangout 3 27th December 2005 07:39
Gates on Google: What, me worry? Sidney WebNews 0 16th September 2005 16:09

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


All times are GMT +1. The time now is 13:35.


Powered by vBulletin® - Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO