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WorkNet looks for new technology to aid rebound.
WorkNet Communications, a high speed Internet provider, is counting on newly developed, technology to help stem the flow of red ink at the Clayton-based firm.
WorkNet lost $11 million between January and June, burning up $2 million to $3 million a month in expenses, and taking in about $700,000 in revenue in the first six months of 2000, according to a person familiar with the company.
The financial situation led to the departure of Ken Harrington, who had been chief executive for about two years, sources said. They said UBS Capital, a New York-based firm with a substantial equity investment in WorkNet, had a right to remove management if WorkNet's business …
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- WorkNet will close KC office, citing market conditions.
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Magazine article from: The Business Journal Serving Metropolitan Kansas City
BROWN, M. STEELE
March 16, 2001
700+ words
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- WorkNet considers IPO.(Brief Article)
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Magazine article from: St. Louis Business Journal
DESLOGE, RICK
April 3, 2000
700+ words
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- WorkNet's Harrington out; Rawlings' CFO resigns.(Brief Article)
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Magazine article from: St. Louis Business Journal
September 25, 2000
700+ words
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- Kent joins Civic Progress; WorkNet raises $2.1 million.(Brief...
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Magazine article from: St. Louis Business Journal
January 31, 2000
700+ words
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- Clayton, Mo.-Based Communications Company Experiences Growing Pains.
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Newspaper article from: St Louis Post-Dispatch (MO)
October 12, 2000
700+ words
