When Ray Lane took over as chairman of Hewlett-Packard Co a year ago, little did he know that he would soon be presiding over another ugly CEO transition and drawing withering criticism for what investors and analysts viewed as incompetence on the part of the HP board. Now, as executive chairman, the respected Silicon Valley veteran and Kleiner Perkins Caufield & Byers venture capitalist has his reputation on the line as he tries to get the iconic computer maker back on track.
The Wall Street Journal reports that Clearwire may decide to skip on a big, looming debt payment. The company can afford to make the payment, but it also needs to raise lots of money to stay in business after the next 12 months. Thus it’s debating the unusual step of failing to make a payment. Investors did not take kindly to the news, sending the stock down 30 percent.
Shares of consumer review website Angie’s List surged as much as 44 percent on their market debut Thursday as investors continued to lap up internet offerings, but concerns about the company’s profitability could loom on the stock, Reuters reports. Meanwhile, the Wall Street Journal provides some backstory on how the Angie’s market listing marks the end of a journey started 16 years ago.
Yelp, another consumer review website, filed for a $100 million IPO. Yelp features more than 22 million reviews of businesses ranging from dentists to restaurants to plumbers, and says it has 61 million unique visitors on a monthly average basis in its latest quarter. Business Insider takes a look at how the company makes money.
Social media and mobile communications will be the two big targets for Google Inc when it unveils a new music store for users late Wednesday, according to people familiar with its plans. However, the giant web search company’s new music partners have already labeled the service “unexciting.” Music executives had been hoping for a more groundbreaking, fully functional cloud-based service; but after licensing talks broke down earlier this year, Google scaled back their ambitions.
Rambus lost an antitrust trial against Micron Technology Inc and Hynix Semiconductor Inc, with a jury snatching away the chip designer’s chance at a multi-billion dollar reward and decimating the company’s stock market value. Rambus attorneys had argued that South Korea’s Hynix and Idaho-based Micron colluded to fix prices of memory chips used in personal computers and to prevent Rambus’s technology from becoming widely used. Rambus claimed the deal cost it up to $4.38 billion in lost profits. When Rambus shares resumed trading Wednesday afternoon following the decision they fell 60 percent.
McKinsey global managing director Dominic Barton has spent the last 18 months meeting with business and government leaders in the hope of resolving what he calls a “crisis in capitalism” that took root well before the financial meltdown in 2008.
This journey led him to conclude that the U.S. needs to shift from “quarterly capitalism” to “long-term capitalism.” (McKinsey defines long-term as the time it takes to invest in and build a new business, roughly five to seven years.) Barton outlines his suggestions for the new capitalism in the March issue of the Harvard Business Review.
Generations of Americans have clocked in to work each morning confident that their daily toils would afford them a better standard of living than their parents. But that central promise of the American dream may now be under threat.
According to a productivity and competitiveness report from the consulting firm McKinsey & Co., the U.S. economy requires dramatic productivity gains to ensure that future workers will benefit from economic growth. How to achieve these gains will be the focus of a discussion between Reuters global editor-at-large Chrystia Freeland and McKinsey’s global managing director Dominic Barton for a Thomson Reuters Newsmaker event on March 1, “Thriving in the New Global Economy.”
By Helen Hughes — Special to GlobalPost
SANTIAGO, Chile — Jacquelin Marin has no running hot water at home. For a while, she had no real home at all. But soon she’ll have both, with the sun heating water for her showers.
Marin and her neighbors are part of a pilot program to install solar water heaters in the houses of low-income families. For Chile — a country with stark economic inequality and few fossil fuels — it’s a way to help the poor while also reducing greenhouse gas emissions.
TORONTO (Reuters) – When speedskating coach Jamal Nubani took charge of his first practice at a suburban Chicago rink in 1993, one youngster stood out immediately for the wrong reasons.
The 11-year-old would not stay still and kept jousting with other children at the practice. So Nubani, a self-confessed strict disciplinarian, pulled everyone to the middle of the ice rink and asked the child his name.