MIKE ARMSTRONG: Coming up – Pep Boys ex-CEO has a new gig, and it involves billionaire Michael Dell. We’ll tell you what business could entice him to leave Manny, Moe, and Jack. Forget Wi-Fi. We’re gonna be hearing more about WiMAX. Sprint, Nextel, and Clearwire are combining their wireless broadband networks, and there’s a local connection. Also, the clock is ticking on a proxy fight that could mean changes to Charming Shoppes’ board. We have the latest. Philadelphia Business Today starts now.
MIKE ARMSTRONG: Now we know why Jeff Rachor left Pep Boys last month. He’s going to be the CEO of a new car dealership company backed by Dell Computer founder Michael Dell, and his private investment firm, MSD Capital. Based in
The next generation of wireless Internet service called WiMAX got a big boost today. Sprint, Nextel, and Clearwire are combining their wireless broadband networks in a deal that also involves some big names, including Comcast, Intel, and Google. WiMAX promises faster download speeds than the networks currently run by cell phone operators. Cable giant Comcast will contribute a little more than a billion dollars to the venture. Intel will kick in a billion, and Google, $500 million. Comcast hopes to sell the service as a premium product for customers who want fast on-line connections outside their homes or in their cars.
The fight between Charming Shoppes’ management and some dissident investors comes to a head tomorrow. Two big
That’s it for today. At The Inquirer, I’m Mike Armstrong for Philadelphia Business Today.