Summit Notebook

Exclusive outtakes from industry leaders

Virgin Mobile USA’s trillions and trillions


Dan Schulman, CEO of Virgin Mobile USA Inc., speaks during the Reuters Global Technology, Media and Telecom SummitWill mobile advertising make you rich?

Virgin Mobile USA CEO Dan Schulman told the Reuters Global Technology, Media and Telecoms Summit today about a new advertising partnership with AOL’s Third Screen Media.

We asked him how big a deal it was. Schulman was enthusiastic, to say the least.

“We think it will drive a trillion dollars to us in the next four to six months.”

On the more serious side, Schulman explained that mobile advertising was still in its infancy as carriers have yet to really figure out the right way of offering people ads on their phones without becoming a nuisance.

from MediaFile:

Nokiahoo or Yahookia? Nah…


With all the interest in Yahoo Inc these days, we took the opportunity to ask Nokia CFO Rick Simonson at the Reuters Global Technology, Media and Telecoms Summit if the world's largest mobile phone maker would be interested in buying Yahoo. He laughed and joked that of all the questions we could have asked him, this was one he didn't see coming. Then he goes on to say:

We've not been involved obviously in Yahoo. We're focused on closing the acquisition with Navteq ...

Symantec: We protect, you decide


enrique-salem.jpgSome companies have thousands of ways to gauge their performance. Symantec figures it out on two fingers: loyalty and market share.

When asked how Symantec measures customer loyalty, Chief Operating Officer and President Enrique Salem told the Reuters Global Technology, Media and Telecoms Summit in New York on Monday:

Grand Theft Audio 4 seen as “work of art”, EA says


florin.jpgThe spectacular debut this month of Take Two’s blockbuster video game Grand Theft Auto was no better than expected, EA’s head of international publishing, Gerhard Florin, told the Reuters Technology, Media and Telecoms summit in Paris.

EA on Monday extended its public offer for Take Two by a month after failing to win more shareholder support for its $2 billion hostile bid but did not up the price. Florin said he was surprised there had not been a more negative approach to the violent game, which instead was hailed as a work of art, even in Germany, which tends to shun violent video games.

Audio – Mexico’s America Movil open to further expansion


amovil.jpgMexican cell phone giant America Movil, which does business in 17 countries across Latin America and the United States, plans to add another 20 million subscribers this year to its client base. 
Chief Financial Officer Carlos Garcia-Moreno chat with Reuters during the Latin America Investment Summit about keeping the doors open for more acquisitions outside its core region although he said the company is in no rush to do so.

America Movil is owned by Carlos Slim, one of the richest men in the world.

Audio – Pemex paints grim picture of Mexico’s oil future


pemex.jpgWith Congress and political parties mired in energy reform talks, monopoly Pemex painted a grim outlook for Mexico’s oil industry if foreign partnerships for deep sea production are not allowed.
Pemex Exploration and Production Chief Carlos Morales told the Reuters Latin America Investment Summit that the company’s first six deepwater exploration wells found no oil and how production at more of the country’s Gulf fields will follow Cantarell into decline in the years ahead. He also said that a planned oil sector reform would be crippled if it excludes alliances with experienced foreign partners. 

Inflation in Argentina worries Toyota


toyota-argentina.jpgHigh inflation in Argentina is “worrying” Toyota’s local unit but the company is optimistic that concerns over energy shortages will ease in the medium term, said the firm’s president.

Investors are concerned about inflation and energy shortages in Argentina, where the red-hot economy has grown 8 percent a year for five years straight after a 2001-02 economic crisis.

Peru miner eyes record gold and silver production


roque_benavides.jpgPeruvian miner Buenaventura said 2008 will be a record-setting year for its main silver and gold mines.

Silver output at its Uchucchacua mine should increase to 12 million ounces in 2008 from 9.9 million ounces in 2007, said Buenaventura Chief Executive Roque Benavides.

Audio – Mexican retailer Soriana focuses on debt


soriana.jpgAfter closing one of the biggest deals in the Mexican retail market in a decade by acquiring more than 200 stores from rival Gigante, Soriana plans to focus on keeping a tidy mid-term debt profile.
The Gigante transaction, which helped strengthen Soriana’s position against leader Wal-Mart de Mexico, will slow down the retailer’s organic growth for the next two years but the company hopes store openings will gather speed again in 2010.
Listen to Chief Financial Officer Aurelio Adan speak at the Reuters Latin America Investment Summit about how the company will handle debt in the next five years and the reasons why he thinks Soriana stock is undervalued.

Audio – Tough ride ahead for Mexico’s biggest retailer


walmex.jpgWalmex, the Mexican arm of U.S. retail giant Wal-Mart Stores Inc., is set for another tough year amid an economic slowdown that is making it more difficult for customers to buy anything from food to clothing.
In 2007, retailers were hurt by a downturn in the Mexican and U.S. economies. However, Walmex hopes that its first-quarter results will be decent. 
Listen to the company’s Chief Executive Eduardo Solorzano talk about the challenges ahead during Reuters Latin America Investment Summit.