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Website: http://www.motorola.com Motorola makes a variety of products for mobile communications, from cell phones to pagers and two-way radios for businesses and consumers. From the five pound Handie-Talkie radio to the lightweight models of today, Motorola has been the leading provider of two-way radio services to public safety, government, transportation, utility and manufacturing enterprises. Motorola's portfolio includes communications infrastructure, enterprise mobility solutions, digital set-tops, cable modems, mobile devices and Bluetooth accessories. Revenues in 2007 were $36.6 billion. down from $42.8 billion in the previous year. The company reported a loss of $49 million. The company announced in October plans to cut 3,000 jobs to reduce costs. Effective March 1, 2009, to better align with industry norms, Motorola will permanently freeze its U.S. pension plans, preserving vested benefits accrued by employees and retirees but eliminating future benefit accruals. Motorola intends to continue to provide funding to meet its pension obligations to present and future retirees. Effective January 1, 2009, Motorola said it will temporarily suspend all company matching contributions to the 401(k) Plan. U.S. employees may continue to contribute to the 401(k) plan but will not receive matching contributions from Motorola. The company said most employees will not receive a salary increase in 2009. In addition, Motorola co-chief executive officers, Greg Brown and Sanjay Jha will voluntarily take a 25 percent decrease in base salary in 2009. History Originally founded as the Galvin Manufacturing Corporation in 1928, Paul Galvin and his brother, Joseph Galvin, purchase a battery eliminator business in Chicago, IL. The device would allow battery-powered radios to run on standard household electric current. In 1930, the company would begin selling car radios. Paul Galvin creates the brand name "Motorola" for the company's new car radio, linking "motor" (motorcar, motion) with the suffix "ola" (sound). In 1940, Galvin Manufacturing developed the Handie-Talkie SCR536 two-way radio, a lightweight, handheld radio that becomes widely used during World War II. This would lead to several new radios including ones using FM frequency. Motorola would change the way the world communicates with the introduction of the DynaTAC cell phone in 1983 and the development of cellular phone technology. In 2006, Motorola acquired Symbol Technologies for $3.9 billion. Benefits Pay for Performance Updated December 17, 2008 |