Motorola CEO Offers Gloomy Assessment

Motorola Inc.'s new CEO, Greg Brown, spooked investors with a gloomy assessment of the cell phone maker's inability to turn around its ailing handset division, saying a recovery will take longer than expected. Shares nose-dived more than 23 percent to a 4 1/2 year low on the company's outlook for worse-than-anticipated first quarter results and Brown's acknowledgment that Motorola is short on promising new products. The shares recovered somewhat to close at $10.01, down $2.31 or l8.8 percent.