Looks like Darl McBride, SCO’s “sue-happy cowboy” CEO, has seen his last roundup. In a new 8-K filing with the Security and Exchange Commission, the company reveals that, under the order of a bankruptcy court, it has eliminated the chief executive officer and president positions and consequently sacked McBride.
Nortel Networks has rejected Research In Motion’s bid for the wireless infrastructure assets Nortel is unloading as part of bankruptcy proceedings. RIM said Monday night that it intended to offer $1.1 billion for Nortel’s CDMA and LTE businesses, but was told it could do so only if it agreed not to bid on other Nortel assets, something it had intended to do.
Bad news for Sirius XM shareholders hoping for a change in management: Mel Karmazin’s five-year contract as CEO of the satellite radio provider has been extended through December 2012. And he’s been given a raise and new stock options to boot.
The too-long-in-coming Sirius XM app for the iPhone and iPod touch showed up in the App Store today and sadly, it’s more noteworthy for what’s missing than anything else. Absent from it are a number of the broadcaster’s more popular channels, among them Howard Stern’s, which Sirius often claims are responsible for driving more subscriptions than any other. Also missing: MLB Play-by-Play, NFL Play-by-Play and Sirius NASCAR Radio.
Interesting turn of events in the Apple-Psystar spat. The unauthorized Mac clone maker has filed for bankruptcy. Seems Psystar’s acrimonious legal battle with Apple and the souring economy have had a deleterious effect on its finances.
If you thought the decline in subscribers posted by Sirius XM Radio in its first quarter was ugly, you ain’t seen nothing yet. With the souring economy weighing heavy on the auto industry–a mainstay of Sirius’s business–and partner Chrysler navigating bankruptcy, the struggling company is bracing itself for continued subscriber losses in its second quarter.
Good thing Sirius XM Radio resolved the debt issues that threatened to drag it into bankruptcy earlier this year; the company’s clearly got other things to worry about. Like fleeing subscribers. Reporting a first-quarter net loss of $236.6 million this morning, Sirius said that anemic car sales had led to its first-ever decline in net subscriber additions. And it was a nasty decline.
Blockbuster in a Monday filing told the Securities and Exchange Commission what anyone who’s observed its fast-declining fortunes has known for some time now: The company isn’t sure it can stay in business much longer. In a PricewaterhouseCoopers assessment included as part of its latest 10-K, Blockbuster acknowledged that its financial situation raises “substantial doubt about the Company’s ability to continue as a going concern.”
Time was, there was a Silicon Graphics workstation on every desk in computationally-intense industries like chemistry and film production. No longer. This morning, SGI, which recently endured a brace of layoffs, filed for bankruptcy protection for a second time and sold itself to Rackable Systems, which makes server and storage products for midsize and large data centers, for $25 million in cash.
Its hopes of rebuilding under bankruptcy protection effectively dashed by the ongoing financial crisis, Nortel is considering selling off its two biggest business units to rivals. Reportedly on the block: the company’s wireless-gear and office telecom equipment units.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size.
11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
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