“Bankruptcy” and “distinct possibility.” Not the sorts of words a company hopes to see in its press coverage, but precisely the ones Nortel has been confronted with today. Describing the telecom equipment manufacturer as “overwhelmed with debt and burning cash,” RBC Capital Markets analyst Mark Sue cut his price target on Nortel to $0 from $1.50 and warned that the company is facing a very bleak future
The best thing that can be said of the week ending Oct. 10, 2008, is this: It’s over.
Marked by panic selling and wet-your-pants fear, it was one of the worst weeks in the financial world’s history–a week that cut the legs out from under Google, beat Yahoo until its market cap bled purple and caused the Dow Jones Industrial Average to swing more than one thousand points on an intra-day basis.
No surprise here. Yahoo shareholder dissatisfaction is following a trend line inverse to the company’s plummeting share price. In fact, the price has dipped so low that Ironfire Capital founder Eric Jackson–the dissident Yahoo investor who agitated for change at the company and the creator of the Yahoo! Plan B investor community–has dumped his Yahoo shares.
After enjoying a few brief months of hostile-bid-inspired investor enthusiasm, Yahoo’s share price has resumed the steady decline it’s been charting for some time now.Yahoo closed at $18.75 today. Not only is that the stock’s lowest level in five years, it’s well below the $19.18 it was worth on Jan. 31, the day before Microsoft announced its $31-per-share offer for the company.
Carl Icahn has finally broken his silence. The outspoken billionaire investor who’s been oddly quiet since Yahoo announced its advertising partnership with Google, finally commented on the deal this morning saying it “might have some merit.”
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.
Best use of the Beeker “meee” ever.
While the technology behind the Telephone is new, the design is reassuringly old-fashioned, reminiscent of a phrenologist’s horn or ear-candle in form. We found the experience far more comfortable than the one we had with the Telegraph.
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!
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