DUBAI, United Arab Emirates (CMC): Andre Russell’s three-wicket haul and Dwayne Smith’s hostile half century fired Islamabad United to a six-wicket victory over Quetta Gladiators in the finals of the inaugural Pakistan Super League here yesterday. Smith struck 73 off 51 balls – 52 of which came from boundaries, to anchor an impressive run chase at Dubai International Cricket Stadium. “It was a good pitch, and I said to myself, just go there and back yourself,” said Smith, who was named the Man of the Match. “It’s a very good group, and I feel at home with everyone, and from the time I came here, I saw that, and I knew this team was going to win the tournament.” Smith’s fireworks came after his West Indies compatriot Russell led a bowling attack that restricted Gladiators to 174 for seven in 20 overs, following half centuries from Ahmed Shehzad and Kumar Sangakkara. Shehzad, who hit nine sixes, top-scored with 64 before he was caught by Samuel Badree from a Mohammad Sami delivery, while Russell removed Sangakkara for 55, which included seven sixes. Russell, the main wicket-taker for the champions, grabbed three wickets for 36 runs, while Samuel Badree picked one for 38. “Winning has been following me; I’ve won three in a row now – Big Bash, BPL, and now, PSL,” said Russell. “Once you’re enjoying the game, success is going to follow you. The only problem that I had, or a few others might have had, is the back-to-back games we had, but we are athletes.” – CMC
Computer Sciences Corp. said Tuesday it plans to cut about 5,000 jobs, or about 6 percent of its work force, over two years and that a possible sale of the company is under consideration. Shares of the company, a provider of information technology services, closed at 59.80 on the New York Stock Exchange after rising to a 52-week high of $60.09 earlier in the session. Computer Sciences said its board has decided to explore the company’s options for improving shareholder value and has hired investment bank Goldman Sachs & Co. as its adviser. The announcement came after The Wall Street Journal, citing unnamed people familiar with the matter, reported in its Tuesday edition that Computer Sciences is in talks that could lead to a potential sale of the company for $10.6 billion or more. Media reports surfaced last year that defense contractor Lockheed Martin Corp. had considered making a bid with private investment groups. Earlier this year, reports were that Hewlett-Packard was also considering a bid. Tuesday, Computer Sciences said it would cut its work force of 80,000 employees as part of a major restructuring to improve the company’s cash flow and earnings. The restructuring plan involves 4,300 job cuts during fiscal 2007, which began Saturday, and 700 job cuts in fiscal 2008. Most of the reductions will come in Europe, the company said. “For some time it has been apparent to us, and to other companies in our industry, that there is excess capacity in certain geographies, particularly Europe,” Chief Executive Van Honeycutt said in a statement. “After lengthy consideration, we have decided that this is an appropriate time to deal with the issue through a restructuring,” Honeycutt said. The company provides computer services to federal civilian agencies, including the Internal Revenue Service and Defense Department, as well as to commercial clients. The company also is a major provider of consulting services. Most of its business is done in the U.S., but it is also a big player in Europe. The company’s income for the third quarter, which ended last Dec. 30, surged 29 percent, helped by a sharp rise in revenue from the federal government, as well as solid growth in the commercial sector. Income for the quarter was $203.5 million, or $1.08 per share, up from $157.5 million, or 82 cents per share, last year. Revenue for the quarter was $3.58 billion, up from $3.49 billion last year. The company reported that income from its European operations declined 4.6 percent in the quarter. Analysts say separate bidders may emerge for the commercial and federal government units of the company. Its major competitors for commercial contracts are International Business Machines Corp. and Electronic Data Systems Corp. Analysts consider both companies, along with some smaller players, to be potential bidders. On the government side, the company’s top competitors include Lockheed Martin and Northrop Grumman Corp., both of which could join with private equity groups to make a bid, analysts believe. Computer Sciences is attractive because its shares have historically traded lower than its peers, according to William Loomis, an analyst at brokerage firm Stifel Nicolaus. “There is a lot of private equity money out there and this deal seems to be originating from private equity interest,” Loomis said. The company also has long-term government deals, which provide the kind of predictable cash flow that would allow private equity firms to borrow more money based on the company’s assets, he said. Other analysts said the company’s restructuring plan would boost its earnings and cash generation, giving it the chance to command a higher buyout price. Computer Sciences said it expects to take a related charge of about $345 million this fiscal year and $30 million in fiscal 2008. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl event160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!