With the economy in contraction and the stock market going all to hell, 2008 was not a good year for the IPO market. In fact, volumewise, it’s looking like it was one of the worst in the last 13 years. Global IPO activity has more than halved since 2007, according to Ernst & Young’s year-end Global IPO update.
The econalypse is finally catching up with Google–according to the company’s recently released 10-Q and Barclays Capital analyst Douglas Anmuth, who apparently just read it. Noting that advertising spending generally declines in ugly economic conditions, Anmuth lowered his share price forecast for Google to $490 from $542.
Beyond the wet-your-pants whipsawing of the financial markets, the week ending Oct. 17, 2008, was one in which Apple figured prominently. On Tuesday, the company unveiled revisions to its MacBook Pro, MacBook and MacBook Air portables–as well as its new LED Cinema Display. It also issued a Steve Jobs health update: The Apple CEO’s blood pressure is 110/70.
Wall Street’s 777-point selloff on Monday–one of its worst days since 1929–hit many tech stocks harder even than the overall market on Monday. Said Ross Sandler, senior Internet analyst at RBC Capital Markets, “Tech took it on the chin disproportionately.” Indeed, it did. And a couple of other places as well, from the looks of things. A quick overview of the carnage.
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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