MPC Corporation

Last updated

MPC Corporation
Type Public
Spin-off
Industry Computer hardware
Founded1995 (as Micron Technology subsidiary Micron Electronics, Inc.)
2001 as a spin-off
Founder Michael Coxhead
DefunctDecember 31, 2008 (2008-12-31)
FateBankruptcy; assets abandoned
Headquarters
Nampa, Idaho
,
U.S.
Key people
John Yeros
(Chairman & CEO)
Products Desktops
Servers
Notebooks
Revenue $365 million (as of 2007) [1]
Number of employees
680 (as of 2007) [1]
Website www.mpccorp.com at the Wayback Machine (archive index)

MPC Corporation was a computer-hardware company based in Nampa, Idaho, United States. It was best known as a provider of desktops, notebooks, servers and services to customers in the federal, state and local government, education, small and medium business, and consumer markets. Before June 2001, MPC Corporation was known as Micron Electronics Inc., a subsidiary of Boise-based semiconductor manufacturer Micron Technology.[ citation needed ]

Contents

MPC filed for Chapter 11 bankruptcy on November 7, 2008, three days after their common stock was delisted from the NYSE Alternext U.S. exchange (formerly the American Stock Exchange). [2] On December 31, 2008, MPC notified the Idaho Department of Labor that its efforts to reorganize had failed and the company would cease operations. [3]

History

MPC Computers (originally named Micron Electronics Inc.) was founded privately in Nampa, Idaho in 1995 through a merger of ZEOS International, Micron Computer, and Micron Custom Manufacturing. [4] From 1995 to 2001, Micron Electronics Inc. sold consumer and business computers under the names Micron, MicronPC, and MicronPC.com. The acquisition of HostPro (Web.com) in 1999 under CEO Joel Kocher brought the firm into the web hosting space. In June 2001, in an all-stock deal, Gores Technology Group acquired the MicronPC business from Micron Technology. [5] In December 2002, the company changed its name from MicronPC to MPC Computers. [6]

In July 2005, application acceleration provider HyperSpace Communications Inc. merged with MPC Computers in a stock-swap deal. [7] Because HyperSpace became a public company in 2004, [8] MPC Computers was able to avoid the rigorous process of becoming a public company. [9] MPC Corporation was listed on the NYSE Alternext US LLC exchange (formerly the American Stock and Options Exchange) as ticker symbol MPZ until being delisted. In January 2007, HyperSpace Communications Inc. changed its name to MPC Corporation. [10] In September 2007, MPC Corporation announced that it had signed an agreement to acquire Gateway, Inc.'s Professional Services Unit business line for approximately $90 million. [11]

Stock delisting

In early May 2008, the AMEX notified MPC that it was not in compliance with AMEX regulations because the company's stockholder equity had fallen below $2 million and that MPC had sustained losses from continuing operations or net losses in two of its three most recent fiscal years. MPC responded to that notice by filing a plan to achieve compliance which AMEX accepted June 27, 2008, giving MPC until Nov. 9, 2009 to bring itself back to viability under AMEX rules. However, in October 2008 the exchange (which changed its name to NYSE Alternext at the beginning of that month) notified MPC that MPC was not making progress consistent with its submitted plan and said that the plan no longer demonstrated the company's ability to regain compliance with exchange regulations. Exchange officials also concluded that MPC was not compliant with other standards related to the company's overall financial condition and ability to continue operations, its low stock share price and the decline of its market capitalization. [12]

Bankruptcy

In early November 2008, MPC filed a petition for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware. In a press release announcing the filing, CEO John Yeros said issues surrounding the integration of the former Gateway unit along with problems with their "manufacturing partner" contributed to extensive losses. [13] When it gave its shutdown notice to the Idaho Department of Labor, MPC noted that a substantial portion of its sales force resigned without notice between Dec. 4 and Dec. 12, which it said made it impossible to continue viable business operations. It also said that efforts to reorganize under Chapter 11 were unsuccessful and announced it would lay off 147 employees immediately, keeping the remaining 51 employees only to wind down operations. It provided no advance notice of the layoff because "the decision to cease all business operations and liquidate the company was not reached until just prior to notice" and "advance notice of a possible layoff would have precluded its ability to obtain financing to allow the company to avoid a shutdown." [3]

Bowl sponsorship

From 1998 through 2000, MicronPC sponsored the MicronPC Bowl, a post-season NCAA Division I college football bowl game played at Pro Player Stadium in Miami, Florida. In 1999, the bowl was renamed the MicronPC.com Bowl to emphasize the company's internet presence.

From 2004 to 2006, MPC Computers sponsored the MPC Computers Bowl, a post-season NCAA Division I college football bowl game played annually at Bronco Stadium on the campus of Boise State University. Before and after the sponsorship of MPC Computers, this bowl game was known as the Humanitarian Bowl; its name was changed to the Famous Idaho Potato Bowl in 2011.

Former parent company Micron Technology also sponsored the Humanitarian Bowl (at the time named the Crucial.com Humanitarian Bowl) from 1999 through 2002.

Related Research Articles

NYSE American Stock exchange located in New York City

NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange.

MPC, Mpc or mpc may refer to:

NYSE Chicago American stock exchange

NYSE Chicago, formerly known as the Chicago Stock Exchange (CHX), is a stock exchange in Chicago, Illinois, US. The exchange is a national securities exchange and self-regulatory organization, which operates under the oversight of the U.S. Securities and Exchange Commission (SEC). Intercontinental Exchange (ICE) acquired CHX in July 2018 and the exchange rebranded as NYSE Chicago in February 2019.

Famous Idaho Potato Bowl NCAA-sanctioned post-season college football bowl game

The Famous Idaho Potato Bowl, previously the Humanitarian Bowl and the MPC Computers Bowl (2004–2006), is an NCAA-sanctioned post-season college football bowl game that has been played annually since 1997 at Albertsons Stadium on the campus of Boise State University in Boise, Idaho. The game is televised nationally on the ESPN family of networks. Cincinnati defeated Utah State in the inaugural game in 1997.

Micron Technology American company producing semiconductor devices

Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives. It is headquartered in Boise, Idaho. Its consumer products are marketed under the brands Crucial and Ballistix. Micron and Intel together created IM Flash Technologies, which produces NAND flash memory. It owned Lexar between 2006 and 2017.

Gateway, Inc.

Gateway, Inc., previously Gateway 2000, is an American computer hardware company. The company develops, manufactures, supports, and markets a wide range of personal computers, computer monitors, servers, and computer accessories. It was acquired by hardware and electronics corporation, Acer, in October 2007.

Zeos

Zeos International, Ltd., was a PC manufacturer based in Minneapolis, Minnesota. Originally based in New Brighton, Minnesota, and founded by Gregory E. Herrick, the company incorporated in Minnesota in 1981. Prior to manufacturing PCs, the company was called NPC Electronics. NPC was a contract assembly business best known for developing a transmitter device called Radio Realty. Marketed primarily to real estate brokers, this product enabled prospective home buyers to tune in and listen to prerecorded information about a property listing while parked in front of the dwelling. Radio Realty was divested in the early 1980s as NPC started developing, manufacturing, and selling PCs under the Zeos name. The company went public in mid-1985 by self-underwriting, and officially changed its name from NPC Electronics to Zeos International.

NYSE Euronext, Inc. was a Euro-American multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca. NYSE merged with Archipelago Holdings on March 7, 2006, forming NYSE Group, Inc. On April 4, 2007, NYSE Group, Inc. merged with Euronext N.V. to form the first global equities exchange, with its headquarters in Lower Manhattan. The corporation was then acquired by Intercontinental Exchange, which subsequently spun off Euronext.

Web Internet LLC were formed in 1997 as joint ventures between Robert Friedman and Bill Bloomfield, then President of Web Service Company. Friedman served as Web.com's first CEO. Web Service Company was the second largest coin-operated laundry machine company in the U.S. and held a trademark on the "WEB" brand, resulting in the company's ownership of the Web.com domain. Web.com initially launched as a web portal, offering paid search results, a shopping directory, comparison shopping engine, as well as a free web-based @web.com email service in multiple languages. When these offerings proved unsuccessful, Will Pemble was hired as CEO in 1999 with the mandate to turnaround the company. Mr. Pemble led the development of Web.com’s domain name registration and web hosting services, which became the core product offerings of the company. In 2004, Will Pemble purchased the business from its parent company the Web Services Company, Inc. Shortly after purchasing Web.com, Mr. Pemble founded Perfect Privacy, LLC, a subsidiary of Web.com providing private domain name registration services to customers of Web.com.

AECOM American engineering firm

AECOM is an American multinational engineering firm.

The Securities Industry Automation Corporation (SIAC) is a subsidiary of the NYSE Euronext. Its purpose is to provide technical services for the exchanges themselves, members and other financial institutions. In this role, SIAC provides the computers and other systems required to run the exchanges. It also owns communication lines and hardware to provide real-time quotes and transaction information to all market participants from the Consolidated Tape/Ticker System (CTS), Consolidated Quotation System (CQS), and Options Price Reporting Authority (OPRA).

Elpida Memory, Inc. was a corporation established in 1999 that developed, designed, manufactured and sold dynamic random-access memory (DRAM) products. It was also a semiconductor foundry. With headquarters in Yaesu, Chūō, Tokyo, Japan, it was initially formed under the name NEC Hitachi Memory in 1999 by the merger of the Hitachi and NEC DRAM businesses. In the following year it took on the name Elpida. In 2003, Elpida took over the Mitsubishi DRAM business. In 2004, it listed its shares in the first section of the Tokyo Stock Exchange. In 2012, those shares were delisted as a result of its bankruptcy. In 2013, Elpida was acquired by Micron Technology.

The Consolidated Tape Association (CTA) oversees the dissemination of real-time trade and quote information in New York Stock Exchange (NYSE) and American Stock Exchange (AMEX) listed securities. It is currently chaired by Emily Kasparov of the Chicago Stock Exchange, the first woman and the youngest chair elected to the position.

Nabors Industries is an American global oil and gas drilling contractor based and headquartered in Houston, Texas. Nabors owns the largest land drilling fleet in the world with approximately 400 rigs in more than 20 countries. Company consists of the following business segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies.

Inacom Corporation (ICO:NYSE) was a large national seller of PC's and services based in Omaha, Nebraska, at one point being the third-largest and most profitable computer distributor in the United States.

N-Shares refers to Chinese companies listed on the NYSE, NASDAQ, or the NYSE MKT. The term stands for New York. They may or may not be incorporated in China, but they have their main business operations in mainland China. Most of them are incorporated in Bermuda, the Cayman Islands, the British Virgin Islands, Nevada or Delaware. If they have been incorporated in mainland China, they trade as ADRs of H Shares. If they have been incorporated in Hong Kong, they trade as ADRs of Red chips. If they have been incorporated in Nevada, Delaware or Florida, they might have originated as reverse mergers. Most N-Shares are the American exchange equivalent of P-Chips.

American Stock Exchange Building Building in Manhattan, New York

The American Stock Exchange Building, formerly known as the New York Curb Exchange Building and also known as 86 Trinity Place or 123 Greenwich Street, is the former headquarters of the American Stock Exchange. Designed in two sections by Starrett & van Vleck, it is located between Greenwich Street and Trinity Place in the Financial District of Lower Manhattan in New York City, with its main entrance at Trinity Place. The building represents a link to the historical practices of stock trading outside the strictures of the New York Stock Exchange (NYSE), which took place outdoors "on the curb" prior to the construction of the structure.

HP Inc. American technology corporation

HP Inc. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers (PCs), printers and related supplies, as well as 3D printing solutions.

References

  1. 1 2 MPC Corporation from Hoover's
  2. ↑ "MPC Corporation Announces Chapter 11 Filing". mpccorp.com. Archived from the original on May 5, 2009. Retrieved November 7, 2008.
  3. 1 2 "MPC Corp. closes its doors". Idaho Business Review. Retrieved January 3, 2009.
  4. ↑ "Zeos, Micron Technology Subsidiaries Merge". originally published at washingtonpost.com. Retrieved September 9, 2007.[ dead link ]
  5. ↑ "News". gores.com. Archived from the original on July 25, 2008. Retrieved September 9, 2007.
  6. ↑ "MicronPC To Change Name To MPC". mpccorp.com. Archived from the original on November 19, 2006. Retrieved September 9, 2007.
  7. ↑ "HyperSpace Communications Inc. Completes Acquisition of MPC Computers". mpccorp.com. Retrieved September 9, 2007.[ permanent dead link ]
  8. ↑ "HyperSpace Announces Closing of Its Initial Public Offering". mpccorp.com. Retrieved September 9, 2007.[ permanent dead link ]
  9. ↑ Mook, Bob (August 7, 2005). "HyperSpace makes leap in buying Idaho firm". Denver Business Journal. Retrieved September 9, 2007.
  10. ↑ "HyperSpace Communications, Inc. Changes Name To MPC Corporation". mpccorp.com. Retrieved September 9, 2007.[ permanent dead link ]
  11. ↑ "MPC Corporation To Acquire Gateway Inc.'s Professional Business". mpccorp.com. Retrieved September 9, 2007.[ permanent dead link ]
  12. ↑ "MPC Corporation Receives Notice of Delisting". PRNewswire-FirstCall via Yahoo! Finance. Retrieved January 3, 2009.[ dead link ]
  13. ↑ "MPC Corporation Announces Chapter 11 Filing". mpccorp.com. Archived from the original on May 5, 2009. Retrieved January 3, 2009.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.