Commerce One, an internet software maker valued at $20 billion at the peak of dot-com mania, is poised to go to a pauper's grave.
Commerce One (CMRC) delivered the sobering news in a Securities and Exchange Commission filing that warned shareholders not to expect to receive anything after Commerce One closes its doors.
The end appears imminent, although the disclosure didn't set specific a timetable. Down to its last $700,000, the San Francisco-based company said its expenses continue to outstrip its revenue and management has been unsuccessful in its efforts to arrange additional financing.
- - -
Viacom going Chinese: Viacom said it has struck a second Chinese program-producing partnership and could form two others, including a movie-making tie-up, in the months ahead.
Viacom (VIA) said it formed a strategic alliance with Beijing Television to produce Chinese language music and entertainment programming for domestic and international markets.
The pairing comes six months after U.S.-based Viacom announced a similar venture with Shanghai Media Group, China's second largest media company. Viacom billed that deal as the first Sino-foreign programming joint venture since Beijing began relaxing rules on such partnerships earlier this year.
- - -
Grounded: Boeing's CEO says its archrival, Airbus, was exaggerating the speed of recovery in the commercial airplane market. The CEO told reporters in Berlin that the market is coming back, but not as fast as Airbus thinks.
Boeing (BA) will probably project its commercial airplane sales for 2006 when presenting third-quarter results next month, he added.
Boeing has said it expects to deliver 285 planes this year and between 315 and 320 planes in 2005. Airbus delivered 305 jets last year, outstripping Boeing for the first time in their 30-year rivalry.
- - -
Race to the holidays: Sony said it will launch the latest version of its blockbuster racing game software, Gran Turismo, in December in a potentially strong boost for holiday sales of its PlayStation 2 console.
The Gran Turismo series, originally launched in 1997, has sold more than 36 million units worldwide, making it the most popular PlayStation title created in-house by Sony Computer Entertainment, the video-game unit of Sony (SNE).
Gran Turismo 4 will be released on Dec. 3 in Japan and the rest of Asia, and on Dec. 14 in North America. The European launch will take place around the same time.
- - -
Compiled by Laila Weir. AP and Reuters contributed to this report.
