By Alessandro RAIMONDI
LUGANO, April 23 (THE GLOBE)
Right. That�s another example of megafusion just being announced, which is going to revolutionize the lucrative market of power production and supply.
Few years after having become a world colossus by simply merging two global leaders such as Asea and Brown Boveri into ABB, the Swiss-Swedish universal group has disclosed plans of merging with the large French company Alstom, the result will show a joint venture of unthinkable proportions in which both partners will count for as much as 50% each.
The new subject will constitute the world�s #1 in the production of power stations, relegating in so doing General Electric, the American mighty company, to the second position.
ABB Alstom Power, this the name of the brand new venture, will make use of some 54,000 workforce of which 3,000 will be contributed by ABB�s Swiss departments that will merge into the company-to-be.
The director of the Swiss-Swedish-French firm will be Mr. Claude Darmon, current vice-president at Alstom, while ABB�s side will be occupied by its president Mr. G�ran Lindhal, as chairman of the board.
The site of the new joint venture is going to be Brussels, Belgium, at the beginning, but it�s still unclear if the choice will last. Other cities are being considered, in fact, for a subsequent move due to the fact that the new giant will be operative in over 100 countries.
11,000,000,000 $ is the turnover that the two independent companies have marked on aggregate during 1998, the split numbers see ABB making the lead with 8 billion dollars. Weighing so much less, Alstom has agreed to pay 1.5 billion $ to ABB in order to acquire 50% of the new venture. The Swiss-Swedish group will use such money to strengthen ancillary activities such as automation techniques.
The domain in which ABB Alstom Power will be operative is the electric station production one, while nuclear power production is not being considered at least for the time being.
Some other 8,700 workforce will be continuing working at ABB in Switzerland.
The American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellow fin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, only a little while.
The American then asked why didn�t he stay out longer and catch more fish?
The Mexican said he had enough to support his family�s immediate needs.
The American then asked, �but what do you do with the rest of your time?�
The Mexican fisherman said, �I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos, I have a full and busy life.�
The American scoffed, �I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually NYC where you will run your expanding enterprise.�
The Mexican fisherman asked, �But, how long will this all take?�
To which the American replied, �15-20 years.�
�But what then?�
The American laughed and said that�s the best part. �When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions.�
�Millions.. Then what?�
The American said, �Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.�
27/04/1791 - Samuel F.B. (Finley Breese) Morse was born (inventor: electromagnetic telegraph: 1st telegraph message: �What hath God wrought?)
28/04/1932 - A vaccine against yellow fever was announced this day.
28/04/1945 - Italian dictator Benito Mussolini and his mistress, Clara Petacci, were executed by Italian partisans as they attempted to flee the country.
28/04/1967 - Muhammad Ali, the former Cassius Clay, refused induction into the U.S. Army this day. Critics and supporters spent years discussing the boxing champ�s refusal to serve in the armed forces. In fact, Ali�s world heavyweight crown was later taken away from him as a result of his actions, which he said were based on religious grounds.
28/04/1985 - The largest sand castle in the world was completed near St. Petersburg, FL. The castle was an amazing four stories tall and contained hidden treasure for kids who came in and demolished the work of art � with permission � a week later.
28/04/1994 - Former CIA official Aldrich Ames, who had betrayed US secrets to the Soviet Union and then Russia, pleaded guilty to espionage and tax evasion, and was sentenced to life in prison without parole.
29/04/1957 - Michelle Pfeiffer was born (actress: Dangerous Liaisons, Batman Returns, The Fabulous Baker Boys, Grease 2, Ladyhawke, Scarface, The Witches of Eastwicke, The Age of Innocence)
29/04/1970 - Andre Agassi was born (tennis champion: Wimbledon [1992], U.S. Open [1994])
April, 28
The Kazakh Concert Hall. The concert orchestra of Almaty�s akim. 6.00. p.m.
April, 30
The Kazakh Concert Hall. The �Turandaut� opera by Pucini. 6.00. p.m.
The Kosteyev State National Museum. Exhibition of the works of S. Kalmykov, I. Itkind, V. Eifert, and Rudolf Nuriev�s painting.
From 10.00 a.m. to 5.30 p.m. Closed on Monday.
All Over the Globe is published by IPA House.
© 1998 IPA House. All Rights Reserved.