Add Adobe to the fast-growing list of tech companies sacking employees in November. In an 8-K filing today with the Securities and Exchange Commission, Adobe said it will cut nine percent of its workforce–approximately 680 jobs.
“The decrease in _____ revenue was primarily due to _____” and “uncertainty associated with the proposed acquisition by Oracle and increased competition.” That refrain is repeated over and over again in Sun’s latest grim earnings report, which was filed without much in the way of announcement Friday afternoon.
Here’s an interesting data point from Apple’s recent 10-K filing with the U.S. Securities and Exchange Commission: The company has budgeted $1.9 billion in capital expenditures for fiscal 2010. That’s 70 percent more than the $1.1 billion it spent in 2009. What does Apple plan to do with those additional funds?
EBay’s plan to sell a 65 percent stake in Skype to a group of private investors is going to be a bit more difficult to pull off than expected. This afternoon, Joltid, a company owned by Skype’s founders, filed a copyright suit against eBay and the consortium of investors that just paid $1.9 billion for a majority interest in it.
Oracle CEO Larry Ellison is taking a $999,999 pay cut. According to a company filing with the Securities and Exchange Commission, Ellison will receive a base salary of $1 for fiscal 2010, down from the $1 million he collected in fiscal 2009.
What happened between Apple’s January 5 disclosure of Steve Jobs’s “hormonal imbalance” and the company’s January 14 announcement that the CEO would be taking a six-month leave of absence? That’s the focus of an ongoing Securities and Exchange Commission probe into Steve Jobs’s health, an investigation that seems to, well, be going nowhere.
Monster has finally put its backdating case to rest. Nary a week after former COO James Treacy was convicted of conspiracy and securities fraud, the online employment search company agreed to pay a $2.5 million fine to the U.S. Securities and Exchange Commission to settle charges that it improperly backdated millions of dollars in stock options.
A couple bombshells in Sun Microsystems’s latest 10-Q filing. Seems the company believes it may have violated the U.S. Foreign Corrupt Practices Act, which bans bribery of foreign government officials. Oh, and some of its shareholders are suing to block its acquisition by Oracle.
Larry Ellison’s got some news for skeptics predicting Oracle will dump the Sun Microsystems hardware business when its $7.4 billion acquisition of the company closes: It’s not gonna happen. In an interview with Reuters subsequently filed with the SEC, the Oracle CEO said he plans to maintain that part of Sun’s business.
Business journalists who had their careers curtailed by the souring economy might consider stopping by the Securities and Exchange Commission on their next trip to the unemployment office. The agency may have a good use for their talents, according to Chairman Mary Schapiro, who finds the sadly diminished ranks of the business press worrisome.
After the collapse of acquisition talks with IBM, Sun’s shares continue to take a beating. Plus, Twittering Rhode Island’s daily cash flow and bad news from Blockbuster. (April 7)
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.”
Investors holding shares in foundering satellite radio outfit Sirius XM just received a bit of welcome news. The company has closed its investment deal with Liberty Media, resolving the “uncertainty” surrounding its debt maturing in 2009. Good thing too, because that uncertainty was pretty worrisome.
Two weeks after Canadian regulators dropped the hammer on Blackberry maker Research-In-Motion for its stock option backdating scheme, the Securities and Exchange Commission has dropped it again. Today, the agency charged four RIM execs with illegally granting stock options to company employees over an eight-year period from 1998 through 2006.
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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