If there was an over-arching theme for this last week on All Things D, it would have to be musical chairs.
Brand new MySpace CEO Owen Van Natta started things off Monday with his first day on the job. He was joined by new COO and former AOL exec Mike Jones and new chief product officer and former Sling Media exec Jason Hirschhorn.
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Sony has no plans to divest its stake in Sony Ericsson, but it is divesting itself of something else: the executive charged with overseeing the joint venture. Najmi Jarwala, the president of Sony Ericsson’s operations in North America, is leaving the company at the end of March.
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Today brought with it nasty news for Motorola. Standard & Poor’s slashed its corporate credit rating on the long-suffering handset maker, noting that the company’s troubled mobile business is likely to continue what is already a two-year downward slide.
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Research In Motion’s downside guidance for the third quarter is playing hell with the company’s share price today. After market close Tuesday, RIM said revenues for the three months ended November will fall short of its earlier forecast. The company blamed the news on product-launch timing, general economic conditions and foreign-exchange volatility, but could there be something else at work here a well? Like an uncompelling product line?
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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.
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Disciplined capital allocation is a key priority for Time Warner. That said, the company “may have overpaid” for Bebo, the social-networking site it acquired for $850 million cash back in March. So said Time Warner CEO Jeff Bewkes in an interview with Portfolio.
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