News In Brief
High-tech giants Motorola and Cisco Systems Inc. were to announce a working agreement aimed at providing access to the Internet via mobile phones and other wireless devices. They said they planned to invest up to $1 billion by 2004 to develop a range of new products and four "Internet solutions centers" around the world that would help other companies provide integrated data, video, and voice services over wireless networks.
Spokesmen for Boeing, the Seattle-based aerospace giant, confirmed published reports that a top executive had warned of vulnerability to a takeover attempt because of the company's low stock price. But they said chief executive officer Phil Condit raised the prospect only to motivate managers in a discussion of Boeing's disappointing financial performance. Shares were selling for $37.25 at the close of trading Friday. The company's current market value is estimated at about $36 billion. As recently as the early 1990s, General Electric was rumored to be interested in acquiring Boeing.