Tag Archive | "google"

Did you know?

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Fantastic video on the progression of information technology.

Opening Bell 1/23/9

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Citi Directors To Leave (FT)
“Citigroup is to revamp its board with the departure of long-standing members Kenneth Derr and Franklin Thomas following criticism of its ability to supervise the troubled company’s executives and strategy, people close to the situation have said.”

What We Have Here Is A Three Pronged Approach (WSJ)
Apparently what we’re looking at is the following:

1) Stemming Foreclosures.

2) Revamping Existing Efforts.

3) Purchasing of Assets.

Pulling the assets off the books is going to help, but it’s not going to help as fast as the government thinks it will; there would be at least a two quarter bleed before the banks would consider loosening restrictions in re: liquidity.

That being said, we haven’t seen anything concrete on the “Stemming Foreclosures” side yet, and I don’t have a clue what the “Revamping” prong even means.

Google Beats Expectations (Reuters)
“Excluding one-time charges, profit was $5.10 a share, beating the average analyst forecast of $4.95 according to Reuters Estimates.

Revenue rose 18 percent to $5.7 billion — a shadow of the 50 percent growth levels that Google used to enjoy, but considered by analysts to be a robust performance given the weak economy and corporate cutbacks in advertising spending.”

Bankers And Regulators Call It What It Is (Bloomberg)
The idea that just because you avoid the word nationalization it isn’t in play is annoying; the bottom line here is that the government has in fact nationalized some of the banks. Look at it like this: arrest in many states is defined as the inability to leave. Now, the police won’t directly place you under arrest in most cases until they’re done questioning you about whatever heinous thing you did/peed on. But, should you be snarky and insist on departure, they will (usually) cuff your ass.

No one in the government is calling what’s going on nationalization until the banks decide that they can act autonomously again. Or, as Jon Bruss puts it: “When the Treasury tells a bank to pay a penny a share vs. its old dividend, you know who’s calling the shots.”

Pfizer In Talks To Buy Wyeth (WSJ)
The combination of the two companies would provide for a pharmaceutical powerhouse, one would hope they will use their newfound power for the ultimate good: the panacea for STDs.

“Pfizer, the world’s largest drug maker by revenue, would likely use a combination of cash and stock for the acquisition. Details on price haven’t been worked out, but Wyeth has a market capitalization of about $52 billion and premiums in the sector have averaged just over 20%. That would put the value of the deal at well over $60 billion.”

Times To Sell Its Building (NYT)
The Grey Lady has been facing hard times lately; with ad revenue down and the emergence of online media it’s become a more cost-competitive marketplace. Add to that the debt coming due and about $400MM in revolving credit lines expiring in May and you have a liquidity crunch – and a perilous situation at best. To counter, the Times has borrowed about $250MM from outside investors, and it’s looking to sell its historic building on 8th in a lease/buyback.

Google Android will use T-Mobile Network

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If you have been following the news recently, you have probably seen the early photos and the launch of the T-Mobile G1. The first commercial phone powered by Google’s Android is built by THC and will be commercialized by T-Mobile for a reasonable price. It’s fair to say that it is not sexy, but it is feature packed and the platform strategy is very interesting. While many will compare it to the iPhone, I don’t really think if the G1 as an iPhone competitor. G1 lacks the design factor that is the primary sales driver for the iPhone. T-Mobile or Google won’t have a tight control over the user experience like Apple does. In the longer term, it will depend on the software (yup, the value is in the software). It could be awesome, or it could be crap – it’s hard to tell, but at least the first seeds of the eco-system have been planted.

Probe into how Google mix-up caused $1B run on United Airlines

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The US Securities and Exchange Commission has opened a “preliminary inquiry” into how an outdated bankruptcy story sparked a $1 billion run on an airline’s stock value.

The article about how United Airlines filed for bankruptcy in 2002 was revived when it showed up on a newspaper site’s “most viewed” section on Monday.

From there it was picked up by Google News and later seen by alarmed stockholders. The stock plunged from around $12 to just $3 a share before trading was halted.

The Chicago-based company’s shares did not fully recover once trading resumed on Monday, and were still down at just over $11 dollars at close of trading yesterday.

With the possibility of legal action in the air, those involved have been hotly disputing who was to blame.

The errors provide a salutary lesson for investors of the power and perils of computer automation and throw a spotlight on Google’s News search technology which, using “Googlebot” algorithms, scours web pages in search of news articles.

Full Story Here…

Google Launching Chrome Browser Today

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Google announced on Monday that it has been working on an open-source browser known as Chrome and that it is going to release a beta version today in 100 countries. News about the launch of Google Chrome (originally planned for announcement after the holiday weekend) was accidentally emailed to outside sources according to reports. The new browser features include “isolated” tabs designed to prevent browser crashes and a more powerful JavaScript engine. Chrome is based on the open-source software Webkit which is also used to build Google’s mobile software Android.

The Story Behind Chrome:

Related Sources:
Google’s official announcement
Comic book from Google explaining the concept behind Chrome
First Images of Google Chrome
Mozilla Corporation CEO John Lilly’s Thoughts on Chrome vs. Other Browsers
Download page for Google Chrome
Google Chrome: A New Take on the Browser (Official Press Release)