Perhaps Palm really does have the “special sauce” needed to attain smart phone leadership, as RBC Capital Markets analyst Mike Abramsky recently claimed. Reporting first-quarter results this afternoon, the company posted a narrower-than-expected loss, said it shipped 823,000 smart phones during the quarter and announced plans for a common stock offering of 16 million shares.
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.
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.
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.
Sirius CEO Mel Karmazin says his decision to forfeit 30 million company stock options is a generous enhancement to the company’s stock incentive plan, one that will help it “attract, motivate and retain key employees.” An altruistic move were it not for the fact that the options had an exercise price of $4.72 per share and Sirius’s stock is trading at about 35 cents.
Apparently, fear of a deepening recession alone isn’t enough to maintain tech worker loyalty these days–mounting job losses be damned. This week, Google repriced millions of employee stock options that had gone underwater as the company’s share price declined. Now eBay hopes to do the same. The reason: employee retention.
Former Motorola CFO Paul Liska thought he’d been let go because the company was postponing the spinoff of its cellphone unit. Imagine his surprise when he read in Crain’s Chicago Business that he’d actually been fired for cause.
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.
Like great civilizations, great companies are not conquered from without until they have destroyed themselves from within. And Yahoo appears to be well on its way to doing just that. Shares in the company slid still deeper into the mud today as the market reflected on the uneventful conclusion of the company’s merger talks with Microsoft and its decision to–well, let’s face it–become a reseller of Google ads.
According to Forbes, former Broadcom Corp. chief and founder Henry Nicholas ranks 677th on the list of the world’s wealthiest individuals. But according to a federal indictment unsealed today, he’d rank quite a bit higher on a list of the world’s most debauched.
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.
D is unlike any other executive conference. Since its debut in 2003, D has brought to life the energy and excitement of the digital revolution in an unscripted, upfront and unparalleled way. Read more »
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