Broadcast Network To Acquire Web Media Company
New York- In a bold move to increase the reach of the network on the Internet, the media giant CBS Corporation has announced it has intentions of buying CNET Internet Networks for nearly $1.8 billion dollars.
The deal would add nearly 54 million users from CNET to CBS’s global database, as well as combining news, entertainment, and web access platforms.
Such a merger is not totally new but it is fairly unexpected. There has been a general unrest among a large group of investors who have wanted to shake up CNET Networks, led by economic activists at the hedge fund Jana Partners. (more…)
In The End No Deal Was Struck Due To Abandonment Of Chase
Redmond, Washington- In the final accounting the reason that there was no Yahoo accquisiion by Microsoft was that the leader of the software giant chose to end the pursuit.
Leader Steven A Ballmer, CEO of Microsoft Inc. simply abandoned his chase of Yahoo Inc., a company as recently as last month that he referred to as “Crucial to Microsoft’s Future,” and withdrew from the deal on Sunday.
Mr. Ballmer has gestured and trumpeted his pursuit of Yahoo as the “next companywide milestone in the race to embrace search advertising and online services.”
But for some reason when the middle of negociation refusal of Yahoo to accept the bid that Microsoft was offering, reportedly a $31 dollar a share offer, Microsoft walked away. (more…)
New Program Allows Searchable And Social Options To Email
New York- One of the most stalwart of business applications is the ever-demanding email, and for the last ten years since its introduction in 1997 MS Outlook has been the big kid on the block with few changes to its operation.
But that is beginning to change.
New upstart add in program Xobni (inbox, spelled backward) promises to help some of the drudgery of the email operation, by adding to the performance of MS Outlook and helping it in how it functions. (more…)
Stock In Internet Company Drops 16 Percent After Merger Failure
Cupertino, CA- It was not a question of if the stock price for a share of Yahoo Inc. stock would drop after hopes with a merger deal with Microsoft fell through but only how much would it drop?
That answer to that question: A Lot.
The price for a share of Yahoo Inc. fell early Monday after the proposed deal for a merger on the weekend with Microsoft fell through. The price in early Monday trading was $23.92 which is nearly 17 percent below the Friday closing price of $28.67 a share. (more…)
CEO Says Best Decision For Both Companies
New York- In surprising news the head of Time Warner Company announced to their shareholders that they would be selling off their cable holdings, Time Warner Cable.
CEO and Chairman Jeff Bewkes said on Tuesday that the decision has been made to separate off the cable holdings, Time Warner Cable, and that is was in the best interests of all the shareholders involved.
The net income reported on Wednesday for the cable division was $242 million dollars net, for its first quarter 2008 earnings.
Net income for a year ago for the same time period was about $276 million dollars. The results from a year ago included an $81 million dollar sale so the current year results are actually an increased amount than one year ago. (more…)
Oshawa - General Motors has announced it’s laying off 3500 workers across North America, including about 970 at the truck assembly plant in Oshawa this September.
C.A.W. local 222 president Chris Buckley calls it “another dark day for Oshawa.” Just 3 months ago, another shift and a thousand jobs were lost.
General Motors, which says demand for full-size pickup trucks is falling, blames a deteriorating economy and soaring gas prices for the cuts.
This news comes as major international oil companies are reporting record multi-billion dollar profits. They say it’s because oil prices are soaring and sales are up. Royal Dutch Shell, Europe’s largest oil company, made more than $9 billion in the first quarter, up close to $2 billion from a year ago. BP reported making $7.6 billion, up 63 percent in a year.
Hollywood - Stolen U.S. military items have appeared an are being sold on eBay as well as Craigslist.
The Government Accountability Office stated that government investigators who posed as buyers were able to buy military items off of eBay and Craigslist.
These items were very sensitive and were stolen items.
The items include two F-14 fighter jet components, night vision goggles made for the military, army combat uniforms, special enhanced body armor vests used by U.S. troops in Iraq and Afghanistan, among other things.
Ebay and Craigslist are now being put under the microscope for their inability to notice these prohibited items.
Vice President Tod Cohen testified before the House National Security and Foreign Affairs subcommittee on Thursday stating “We created prohibited and restricted items policies and built tools using state-of-the-art technology to enforce those policies.”
Most of the items the buyers bought were stolen from U.S. military facilities.
Washington - On Wednesday, a judge dissolved a court injunction that banned the Hawaii Superferry from setting sail from Kahului Harbor.
Judge Maui Joseph Cardoza said the state did not violate any rules when lawmakers passed a bill allowing it to operate while an environmental assessment is being done.
Superferry President & CEO John Garibaldi responded to the ruling with this statement: “On behalf of Hawaii Superferry’s family of employees, we are pleased with the judge¹s decision today. We are grateful for the support shown by the governor, legislature, and residents of Hawaii and look forward to commencing service soon. We will announce our plan for resuming service as soon as it is confirmed.” A spokesperson says it may take a couple of weeks.
The motion was filed after Gov. Linda Lingle signed into law a bill authorizing large vessels like the Superferry to operate while an environmental study was being done. The law was passed by the Legislature in special session last month. (more…)
Boston (EON) - Facebook has agreed to a plan which will force them to better police pornography as well as predators on their massive social networking site and rival to MySpace.
Facebook has made the move in an attempt to satisfy the demands of New York State prosecutors. They accused Facebook of falsely advertising itself as a safe online environment.
Facebook has agreed to immediately post more strict and sterner warnings in regards to how dangerous it can be for children to use their social networking site. They are also going to be far more prominent in the way in which they respond to complaints from users in regards to sexual messages.
The settlement made between New York attorney general Andrew M. Cuomo and Facebook has these changed etched into the deal.
The settlement according to Mr. Cuomom will serve a “new model” for Facebook where law enforcement and internet companies work as one to protect children from predators and pornography on the internet.
He stated that “Any site where you are attracting young people, you must assume you are simultaneously attracting those who would prey on young people. Whether you are a shoe company or you’re an internet company, consumer protection laws apply.”
Facebook will also hire an independent company to track the responses it makes to complaints from users.
boston (EON) - A campain accross the United States is underway to stop credit card companies from tempting college students with plastic, according to media reports Friday.
Organizers say companies are snagging desperate students with high interest rates.
The California Public Interest Research Group wants to eliminate what it calls unfair credit card marketing.
Cal-PIRG admits students may need credit cards, but still want colleges to take a more protective stance.
Even with small incomes and big bills, college students find credit cards attractive.
Local college student Monique Johnson has her share of messy credit card bills, and recalls being hooked on campus. (more…)