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Business, Financial & Legal Posts - Page 253

Foxconn produces 70% of iPhones, wants to produce even more

Foxconn recently inked an agreement with Sony to learn how to make the new touch screen for the Apple iPhone. New reports have surfaced that show that Foxconn wants to completely take over the iPhone manufacturing business. Currently Foxconn's Zhengzhou produces about 200,000 iPhones per day which accounts for 70% of production.




If Foxconn has their way, they would like to double that plant's output to 400,000 a day. With this increase comes the risk of damaging workers' health or having to hire additional workers. It remains to be seen just how Foxconn intends to increase the production of this plant. It's current productions account for 52.7 percent of the total exports of the Henan province.


This is great for Foxconn if they are able to. But it's not the best strategy for Apple. Think about what would happen if there were a fire at the plant and all of a sudden there was no iPhone being manufactured. It's unlikely that this would happen as I'm sure there are plans in place to prevent it, but it shows that Apple shouldn't put 100% of production into one company or factory.

Berkeley chief of police sends 10 officers to track down son's stolen iPhone

This is one of those moments where you just want to know what a person was thinking. But until someone develops a mind-reading machine, we won't know for sure. As an epitome of United States corruption, ignorance, and waste, the Berkeley, California chief of police sent out ten of his officers to track down his son's stolen iPhone.




Guess what! They didn't manage to find the device even though it had tracking software installed on it. The officers sent to find the device weren't just regular officers, although some were. Michael Meehan, the chief, also sent officers from the drug task force to aid in the search. All of this was over a replaceable iPhone that couldn't cost more than $500.


The hunt most likely cost taxpayers a few thousand dollars. It could have potentially cost even more as only some of the officers received overtime pay for their participation in the search. This truly is an epitome of selfishness. Meehan used his position to do his personal bidding while wasting my taxpayer dollars. As a California resident, I'm not exactly happy with this story. Did Meehan cross a line or was this an acceptable use of money? You be the judge and let us know in the comments.

Facebook to set up an official office in Dubai next week

If the current Facebook IPO problems weren't enough of the social networking hitting the screens of computers, tablets, smartphones, TVs and more across the world over the past month or so, then this news won't surprise you: Facebook are opening up an office in Dubai next week.




The social networking site is set to pack a bag of tricks and open up its first office located in the Middle East. The company has not listed any details, and won't do so until after the event, but the office would add to its collection of about 30 outputs that are pegged across the world.


The news of an office in Dubai comes just after four days of the site in the public market. Do you think this will help them? Will it calm investor nerves?

Google acquires design studio that worked on the G1

If Google's acquisition of Motorola Mobility, Project Glass, and their push toward hardware design and manufacturing wasn't enough, the acquisition of the industrial design firm Mike and Maaike should be enough to convince most people that Google are in it for the long haul.




Who are Mike and Maaike? They're a studio that worked on the very first Google Nexus phone, and bill themselves as "a progressive industrial design studio" who is focused on "functionality, intelligence, and ease" in the design process for the G1. Mike and Maaike have some rather large clients in Belkin, Steelcase, Microsoft and the City of San Francisco.


Google representatives have commented on the purchase, saying that it was a "natural next step" for the company to get "even more serious and to really for for it" when it comes to mobile device offerings sporting their Android OS.

Apple's new iPad has caught up on the market share of the first-gen iPad

Apple's third-generation iPad has only been available for two months now, but it has already caught up to the first-generation iPad market share in the US, according to market analysis firm Localytics. The new model is enjoying over 20-percent of all US-based iPad sales, a little over 1-percent more than the first-generation iPads.




The iPad 2, released last year, is ahead of both the first- and third-gen iPads in terms of market share. The iPad 2 has around 60-percent of the US iPad market share, but the third-generation iPad has moved up from the 14-percent it had just after it was released, to the now 20-percent market share, a nice improvement for a very new product.


How have Localytics gotten to these numbers? Well, the market share determination comes from iPad apps that use Localytics for app analytics.

PayPal adds 15 retail partners for its in-store payment system

As part of PayPal's effort to move out of the digital world into the real world, PayPal has been courting big retail stores to add the option to pay with PayPal at the point-of-sales terminals. Home Depot was the first to jump on board and has been offering the option of paying with PayPal when checking out since at least March of this year.




PayPal wants to compete with the credit card companies along with other emerging payment systems such as Google Wallet. The announcement was made at a press event today to show the progress PayPal is making with its real world payment system. PayPal still has to convince consumers that maintaining another payment method is worth the hassle.


But, if PayPal makes it simple enough and available at enough locations, it is a viable alternative to credit cards and cash. It would be especially nice if someone were to forget their wallet or not have enough cash with them. Currently, users just have to type in their phone number and a pin to pay which is pretty simple. If they add in the features they are looking to, it will be quite the competitor.


The 15 newly added retail stores include: Abercrombie & Fitch, Advance Auto Parts, Aeropostale, American Eagle Outfitters, Barnes & Noble, Foot Locker, Guitar Center, Jamba Juice, JC Penney, Jos. A. Bank Clothiers, Nine West, Office Depot, Rooms To Go, Tiger Direct and Toys "R" Us.

Continue reading 'PayPal adds 15 retail partners for its in-store payment system' (full post)

Apple and Samsung failed to settle patent disputes, even after 48 hours of court-ordered negotiations

After two days of court-ordered negotiations, smart device heavy weights Samsung and Apple have failed to reach a settlement. CEOs from both companies, Choi Gee-sung from Samsung, and Apple's Tim Cook were ordered to meet in San Francisco to negotiate their on-going patent disputes, and hopefully, reach an agreement.




But, an agreement was not met. Both sides wouldn't move from their positions, with Apple insisting that Samsung copied the designs of its iPhone and iPad, and Samsung demanding that Apple pay royalties for using its wireless transmission technology.


The Korea Times reported that both companies could find "no clear agreement" from the talks. There's not much known on whether other options were thrown on the table during the negotiations, but Samsung's mobile division head J.K. Shin did recently propose cross-licensing patents as an option.


Not reaching an agreement isn't too surprising, it was a court-ordered negotiation after all. Where to from now? Both companies will now go back to court with trial set to start on July 30.

In the midst of the Facebook IPO debacle, Mark Zuckerberg is MIA

The Facebook IPO may now be part of a Securities Fraud Lawsuit, but there's some more interesting news building at the moment. Facebook founder and CEO, Mark Zuckerberg is not around to enjoy the fruits of his labor. Zuckerberg's last public appearance was the day he rang the Nasdaq opening bell, the same day the shares went public and this problem became an issue for thousands across the world.




The only other appearance from the social networking guru is the wedding picture he posted over the weekend. It's been five days since then, and there has been nothing on his Facebook page either. The shares are steady on $32 a piece, and this just adds to the hysteria that is the Facebook IPO.

Continue reading 'In the midst of the Facebook IPO debacle, Mark Zuckerberg is MIA' (full post)

Facebook IPO now the subject of a Securities Fraud Lawsuit

It seems that the ongoing tanking of the Facebook shares is now getting worse, with the Facebook IPO now the subject of a Securities Fraud Lawsuit filed in the United States District Court in New York. The lawsuit is built upon certain Facebook IPO documents containing untrue statements of material facts and omitted other facts necessary to make such statements not misleading.




But, it gets worse, the fraud lawsuit goes on to say that the Facebook IPO documents weren't prepared in accordance with Federal rules and regulations governing their preparation, thus, violating Federal Securities Laws. But, you might be safe, if you purchased, or acquired shares in Facebook common stock (FB), traceable to the Facebook IPO, on or around May 18, 2012, you can contact the Securities Fraud Attorneys to discuss your rights to recovery.


If you have purchased or acquired shares in Facebook, and want to go through with this, here are some contact details:


  • Deadline: July 22, 2012
  • Contact: Kenneth Gilman, Gilman Law LLP
  • Telephone: (888) 252-0048
  • E-mail:
  • Website: Facebook IPO Lawsuit Consultation Website


Current shareholders of Facebook common stock and current or former employees of Facebook, Inc. may have additional claims.

Continue reading 'Facebook IPO now the subject of a Securities Fraud Lawsuit' (full post)

HP to lay off 27,000 employees in multi year restructuring

We previously reported that anonymous sources were saying HP was going to lay off 25,000-30,000 people. We now know that those numbers were correct as Meg Whitman has announced a restructuring plan which will result in 27,000 workers being let go. To put that number in perspective, it is about 8% of HP's 325,000-person workforce.




People won't be losing their jobs immediately as these layoffs are part of a multi-year restructuring plan. As such, the cuts will only be fully implemented by October 2014 which gives employees plenty of time to find new jobs. The move is aimed at making HP more innovative and cost efficient and will include an early retirement program and a one-time charge of $1.8 billion.


"We are making progress in our multi-year effort to make HP simpler, more efficient and better for customers, employees, and shareholders," said Meg Whitman, HP chief executive. "This quarter we exceeded our previously provided outlook and are executing against our strategy, but we still have a lot of work to do."


HP expects to shed only 8,000 employees this year and will continue to invest in core research and development, enterprise servers, software, and services. HP performed better than expected and returned better-than-expected earnings. However, it was still performed worse than it did last year.

Continue reading 'HP to lay off 27,000 employees in multi year restructuring' (full post)

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