Corp comes to Trans Energy from AB Resources LLC where he was VPOperations

Corp comes to Trans Energy from AB Resources, LLC, where he was VPOperations.Prior to that, he spent 17 years with Belden & Blake in positionsof increasing responsibility, including as VP and General Manager of theirArrow Oilfield Services Co.He has a B.S. We assume no obligation to update anyforward-looking information contained in this press release or with respect tothe announcements described herein.SOURCETrans Energy, Inc.TRANS ENERGY, INC., James K Abcouwer, CEO, +1-304-422-4062. * Q1 loss $1.02/shr vs loss of $0.28/shr Stocks  |  Mergers & Acquisitions  |  Global Markets  |  Media  |  Bankruptcy * Revenue drops more than one-third * Company blames economy, bankruptcy filing * CEO confirms talks for asset sales * Shares sag 0.5 Canadian cents to 24.5 Canadian cents (Adds CEO comments; in U.S. dollars unless noted) By Wojtek Dabrowski TORONTO, May 11 (Reuters) - Nortel Networks Corp NT.TO,which filed for bankruptcy protection earlier this year, saidon Monday its quarterly loss widened as the global recessioncontributed to a steep drop in revenue. Nortel, North America's biggest maker of telephoneequipment, also said it is completing plans to decentralizesome functions at each of its four main businesses to give itmore flexibility as it decides which divisions to sell. The company lost $507 million, or $1.02 a share, in thethree months ended March 31. That compares with a loss of $138million, or 28 cents a share, a year earlier.

Revenue fell 37 percent to $1.73 billion with declines inall segments and regions, the company said. Analysts on averagehad expected Nortel to post revenue of $2.32 billion, accordingto Reuters Estimates. The company blamed the drop on the weak economy and itsbankruptcy filing, which rattled the confidence of somecustomers. Chief Executive Mike Zafirovski said in an interview thatrevenue stabilized after January and began to track higher inFebruary and March, adding: "I am cautiously optimistic thatthe worst is behind us." Nortel filed for bankruptcy protection in January, blamingthe economic crisis for derailing a turnaround effort thatbegan in 2005.

Since then, there has been widespread speculation amonganalysts and in media reports that the company may be sold offin pieces rather than revived as a viable stand-alone entity. Sources have said that Nortel rivals, including NokiaSiemens Networks [NSN.UL], have approached the Toronto-basedcompany with offers for key parts of its business However, nodeal has materialized so far. Zafirovski confirmed openly on Monday that Nortel has heldtalks with suitors regarding possible asset sales, but declinedto go into detail. He also said speed was of the essence in the company'srestructuring process, but added that doesn't mean managementwill act hastily as it fights to navigate through restructuringand the financial crisis "We're very conscious that time is not our friend," hesaid. Duncan Stewart, an analyst at DSAM Consulting in Toronto,said the process will likely take months to complete, but it'spossible that division sales could begin in as little as amonth's time. "If we saw everything tidied up in the next week, I wouldbe astonished." Nortel shares are almost worthless, falling 0.5 Canadiancents to 24.5 Canadian cents on the Toronto Stock Exchange. Inmid-2000, at the height of the company's success, the stock wasworth more than C$1,100, adjusted for a share consolidationthat took place in late 2006.

($1=$1.16 Canadian) (Reporting by Wojtek Dabrowski; editing by Rob Wilson) Stocks Mergers & Acquisitions Global Markets Media Bankruptcy. CINCINNATI--(Business Wire)--Convergys Corporation (NYSE: CVG), a global leader in relationship management,announced today that Starbucks (NASDAQ: SBUX), the premier roaster and retailerof specialty coffee in the world, has renewed its contract for Convergys`industry-leading relationship management solutions for a further two years toenhance its facilities support operations. With 2008 revenues of over $10 billion and one of the most well known brands inthe market, Starbucks has an unwavering commitment to customer serviceexcellence. Despite the solid internal customer service support it had in place,when its recent growth outstripped its internal contact center`s ability toprovide cost-effective and efficient facilities support to its stores in NorthAmerica, Starbucks turned to Convergys to meet this pressing need. Convergys hasconsistently met or exceeded Starbucks` quality measures while deliveringsignificant cost savings and improved efficiency in the process, prompting therenewal of the contract.