Showing posts with label Computerland. Show all posts
Showing posts with label Computerland. Show all posts

Vanstar Corp.: Computer firm restructuring, cuts 700 jobs

By   – Staff Writer
Vanstar Corp. has fired 700 workers as part of a cost-cutting strategy. None of the employees were based in Atlanta.
Vanstar is a $2.4 billion Atlanta-based company that designs, builds and manages corporate computer networks. Vanstar (NYSE: VST) employs 7,100 people, with additional offices in Pleasanton, Calif., Luxembourg and Hong Kong.
Almost 60 percent of the downsized workers were temporary employees, many of whom were managers, said Chairman and CEO William Tauscher. Employees who worked directly with customers, such as help desk personnel and systems analysts, were not affected.
In recent months, Vanstar has been hit hard by the drop in price of personal computer products. Tauscher estimated Vanstar lost about $800 million last year.
The price drop was caused by Vanstar's suppliers, Compaq Computer Corp., Microsoft Corp. and Hewlett-Packard Co., bringing their product prices more in line with Dell Computer Corp., which initiated a price reduction last year. A reduction of product inventory also led to the price drop.
Vanstar posted disappointing sales results in its last quarter. Net loss for the quarter ended July 31 was $10.4 million, compared with net income for the year-earlier period of $6.6 million. Revenue in the first quarter was $655.2 million, down 3.7 percent from $680.6 million a year earlier. The company posted sales of $2.8 billion in fiscal 1998.
To deal with the loss of revenue, Vanstar undertook a restructuring program, splitting the company into two divisions. The Professional Services unit will handle technology consulting. The Life Cycle Management Services will be responsible for operational support. The split was a factor that led to the reduction in Vanstar's work force.
In August, Vanstar began firing employees and consolidating some facilities. Also, Vanstar will liquidate excess spare parts and write off redundant equipment. The moves are expected to result in a pretax charge of about $50 million in the second quarter ending Oct. 31, and about $75 million in annual savings.
Although there is no guarantee the price of personal computers won't continue to fall, Tauscher expects the price to level off. The Asian economic crisis, however, could continue to have a negative effect on Vanstar's operations, as Asian manufacturers could lower their prices to deal with their countries' weak economies.
Vanstar was formerly known as ComputerLand. Tauscher became chairman of Vanstar in 1987 after he sold a wholesale drug distributor in 1986 for $350 million. The company maintains two corporate headquarters, in Atlanta and Pleasanton, Calif. In addition to its headquarters here at 1100 Abernathy Road, it has local facilities in Alpharetta and Roswell. Its main clients are large corporations, such as BellSouth Telecommunications, Delta Air Lines Inc. and Ford Motor Co.
The company's stock price has ridden a roller coaster during the past year, ranging from $7.13 to $17.25. It closed Sept. 15 at $8.69.

Mormon: Matthew Michael Lyon

The Bishops know one another as it's like a Fraternity
The death of Matthew Michael Lyon is like others connected to Dead Banker Story

Silverado Council

By PETE BENNETT - Contra Costa Watch EMAIL
Phone: 510-460-5641
Posted: 06/13/2013

Matthew Michael Lyon
Apr. 16, 1970 - July 27, 2012
Resident of Walnut Creek
Matthew Michael Lyon died unexpectedly Friday evening, July 27, 2012 while on his way to meet Boy Scouts from Troop 820 as they completed a 30-mile backpacking trip on the Pacific Crest Trail. 
Matt was born in Salt Lake City on April 16, 1970. He was raised in Pleasanton, California and graduated from Amador Valley High School. He served a two year mission in Guatemala for The Church of Jesus Christ of Latter-day Saints. Following his mission he attended UC Davis where he earned degrees in Economics and International Relations. He married Eleanor L. Valencia on September 15, 1995 in the Oakland LDS Temple. He worked for Accenture for 16 years. 
He is survived by his wife Eleanor, children Connor (12), Jordan (9), Maxwell (7), and Sierra (4); parents Michael and Susan Lyon of Pleasanton, brothers Nicholas (Chelsea), Daniel (Holly), and Christian of San Francisco, niece Madison and many loving aunts, uncles, and cousins.

Mr. Lyons

Matt lived a life of selfless service to others and filled many church roles, including his most recent as the Bishop of the Walnut Creek II Ward. Matt enjoyed exploring the California coast, backpacking, gardening, home improvement projects, and spending time with his family and friends. He found beauty in nature, art, music, good literature, and always looked for the good in others. He touched many lives with his witty humor and easy-going nature. He loved his family above all and will be missed by all who knew him. 
Funeral services will be held Saturday, August 4, 11am with visitation at 10am at The Church of Jesus Christ of Latter-day Saints, 2369 Overlook Drive in Walnut Creek. A shuttle will be available for overflow offsite parking.
Two accounts for the benefit of Eleanor and her children have been established at Bank of America - the Lyon Family Memorial Fund and the Lyon Children Education Fund. Please visit the local branch or send checks made payable to Eleanor V. Lyon to the Lyon Family Memorial Fund c/o Bank of America 1330 North Main St. Walnut Creek, CA 94596. Please note the account number on the check:1641-0255-4031 and reference Lyon Family Memorial Fund in the Memo Line. For those that wish to donate for the benefit of the children's college needs, please follow the same instructions as above but reference Lyon Family Education Fund in the Memo Line. Express condolences at - See more at:


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