Even though Facebook are hurting right now post-IPO, where they've seen a huge drop in their share prices since the IPO went live last week, the fresh rumor is that the social networking site is looking to purchase face recognition technology company Face.com.
Tech news blog Newsgeek reports that the deal could be as large as $80-$100 million. Of course, this is all rumor right now, but Facebook are flush with cash right now thanks to the IPO, and $100 million isn't that big of a deal to them.
The rumors of Facebook building a phone would definitely gel with the rumors of the company buying a facial recognition startup. Face.com, founded in 2007, offers accurate facial recognition software that could help Facebook users identify people in photos faster, both on desktops and mobile.
Would you decline $75 million? Heck, $75 for free wouldn't be too bad these days. On the flip side, Apple CEO Tim "Good Guy" Cook has declined a $75 million payout in restricted stock dividends owed to him. Yes, declined.
Apple announced plans last week where they would pay a $2.65 per share dividend on restricted stocks held by Apple employees. This is rare for a company to reward its employee stockholders like this, and even more strange for a high level executive to decline the money they are entitled to.
But, it's not all bad. AllThingsD reports that this could actually benefit both the company, and Cook in the long run. This move gets positive press for not just Apple, but Cook, which could, and most likely will, translate into more stocks sold. It also shows the kind of person Cook is, in this world of increasingly greedy CEOs and executives.
A new report is saying that the manufacturers in the MacBook supply chain are facing a labor shortage due to the demand for the new MacBook. The report says that strong orders from Apple during a typically low demand season is the cause of the shortage. Some manufacturers are even resorting to outsourcing in order to meet the shipment schedule.
The report says that the manufacturers started delivering parts starting back April. They then experienced growth in May and are expecting to see even more growth in June. The launch of the new MacBook is expected to come in July, but that is unconfirmed. I would tend to expect an August or September launch as that is when they usually launch products.
Sources are expecting shipments to increase from 12.79 million to 16.24-19.2 million units. That equates to a 30-50% increase year-over-year. The new MacBook is rumored to take on a wedge shape that is similar to the current MacBook Air. Once again, this is an unconfirmed rumor. People love Apple rumors, so we will keep them coming as they surface.
Back in July of 2011, Research in Motion slashed 10-percent of its global workforce, laying off 2,000 employees as "a prudent and necessary step for the long term success of the company".
But, it looks like they could be repeating the process according to AllThingsD. They're reporting that RIM will announce another major global restructuring that will include "at least" 2,000 job cuts. A source has told AllThingsD:
RIM has about 16,500 employees worldwide now. That number will be down to 14,500 before the summer's over. ...14,500 or less.
The cuts are expected to not just be a certain section, but company-wide, with everyone from marketing to sales, to legal and operations expecting to have jobs cut. The question is, will this help? Did it help last time? Are RIM cutting the fat from the company, or digging right in and removing the meat?
With the news we reported just hours ago of Facebook wanting to make their own smartphone, this news makes even more sense. Pocket-lint is reporting that Facebook is looking at buying Opera Software, the boys and girls behind the Opera web browser.
This would allow the social networking giant to enter the browser space along with Google, Apple, Microsoft, Mozilla and even Yahoo, who just launched their own browser not that long ago. If it were to acquire Opera, it would definitely be an even stronger competitor against Google, not just for a browser, but for social networking.
Opera's mobile browser is already impressive, and if Facebook were to acquire them, that's one thing they wouldn't have to bother building from the ground-up, it would just be a slot in, change some things around and go. Opera claims to have over 200 million users across all of their platforms, so that's a nice start for Zuckerberg and co.
We've surely all read or heard about the IPO from social networking giant Facebook, and how it has been a disaster since day one, but ranked as one of the worst of the decade? Well, according to Bloomberg, it is. Bloomberg have declared it as the worst large IPO of the past decade, based on the first five days of trading.
During an interview on Bloomberg TV, markets reporter Sheila Dharmarajan compared Facebook to four other poorly performing IPOs: Blackstone Group, General Motors, Mastercard and MF Global. Given that these companies aren't just run of the mill small businesses, it's a good comparison to the social networking giant. As the picture shows above, Facebook are in quite the pickle, compared to say VISA who were trading very well after a week.
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.
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.
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?
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 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.
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.
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.
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.
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: email@example.com
- Website: Facebook IPO Lawsuit Consultation Website
Current shareholders of Facebook common stock and current or former employees of Facebook, Inc. may have additional claims.
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.
Seagate is looking to expand their grasp in the consumer market and what better way than acquiring a company that already produces consumer storage devices? Seagate has extended an offer to LaCie's CEO to purchase the CEO's and his affiliate's stock in LaCie which would give Seagate 64.5% of the outstanding shares, which is enough to have majority control.
Of course, this offer is pending approval by governmental regulatory agencies. Once Seagate gets these approvals, "Seagate would commence an all-cash simplified tender offer (followed as the case may be by a squeeze-out procedure) to acquire the remaining outstanding shares in accordance with the General Regulation of the French Autorite des Marches Financiers (AMF)."
The offer to the LaCie CEO by Seagate is pretty good. The offer is at €4.05 with a potential adjustment depending on LaCie's cash and debt position of LaCie at closing. The price could also possibly increase by up to 3% "in the event that the threshold of 95% of the shares and voting rights of LaCie would be reached by Seagate within 6 months following closing."
It what can only be considered a win for programmers around the country, Google has been found not guilty of infringing on Oracle's patents. It took the jury an entire week of deliberations to come to this conclusion. Of the eight claims across two patents, RE38,104 and 6,061,520, Google was acquitted of every single one.
Now that we have this decision, there is no need for the trial to move onto the damages phase as there are no damages to be awarded. The jury is no longer needed in the trial as the final decision as to Fair Use has been left to Judge Alsup to decide. The judge thanked the jurors and dismissed them adding that "this is the longest trial, civil trial, I've ever been in."
Google had been found to be infringing on Oracle's copyrights on a couple of counts, but it is unclear whether or not this was fair use. The jury was unable to decide unanimously if it was. The jury found Google guilty of just one count of infringement, but Judge Alsup later ruled they infringed on 8 other minor counts.
Judge Alsup still has to render a ruling on whether or not the SSO of the Java APIs can be copyrighted or not. Judge Alsup is set to receive briefs from both legal teams within the next hour, though its not apparent when the actual verdict will be rendered. He is also taking the next two days off for personal reasons. We will continue to keep you posted on the latest happenings in this trial.
If you want a new Xbox, you better get one now. The judge in the Motorola versus Microsoft patent infringement case has recommended to the six-person review commission that they ban imports of the Xbox 360 due to it infringing upon 4 of Motorola's patents. I can see where this could put a massive kink in Microsoft's current "buy a computer, get an Xbox" promotion.
In court documents that were released Monday, Judge Shaw recommended that the Xbox 360 4GB and 250GB be blocked and that Microsoft should have to post a bond worth 7% of the wholesale value of unsold Xbox's currently in the country. This ruling follows Shaw's previous ruling last month that Microsoft was in fact infringing on some of Motorola's patents.
"It is recommended that the Commission enter a limited exclusion order against infringing Microsoft products," Shaw wrote in his finding. "It is further recommended that the Commission issue a cease and desist order. Additionally, it is recommended that Microsoft be required to post a bond for importation of accused products during the Presidential review period."
The six-member commission is expected to review this decision and issue their final statement sometime in August. They have the ability to block imports of devices found to be infringing on US patents. It is also my understanding that the President would then review the finding and could overturn the ban if he wanted.
Yesterday I reported that Facebook shares were down 11-percent from the IPO launch price of $38 per share, to a shave over $34 per share. Today, they've dropped even more, down a total of 18.1-percent from $38 per share to $31.12 per share.
An 11-percent drop, is significant in itself, but an 18.1-percent drop is even more significant as it's barely days from its IPO launch. Business Insider has a great piece on it, where they've explained that once again, Wall Street insiders had some great information, where small investors an individuals were left out in the cold.
It seems that Facebook was not as powerful on the stock market, and that this information was shared among the elite before the IPO itself. If we take note that Mark Zuckerberg himself sold 30.2 million Facebook shares, netting him (before tax) a very tidy $1.1 billion. Various people along the line who have the means and power to have much more knowledge than you or I, or the normal investor, were told to cut estimates.
Customers of Comcast's Xfinity Voice will be getting some new features which could help customers save money. The new feature is called "Voice 2go" and will allow users to make calls over WiFi using their home phone number. The new service will also allow users to text from the number while on WiFi.
"We continue to enhance our Xfinity Voice service by adding new features consumers have come to expect from smartphones and mobile technology," said Cathy Avgiris, Executive Vice President and General Manager, Data and Communications Services. "These new tools enable customers to stay connected to their home phone service and take it with them virtually wherever they go."
Using the newly redesigned Xfinity Connect Mobile app, customers can make and receive calls and texts messages for free while using WiFi. The service will also work over a mobile phone's 3G or 4G data connection and not use any minutes. These text messages can also be sent internationally to over 40 countries, including Canada, Brazil, China and, soon, Mexico.
Xfinity subscribers can also receive up to four Personal Phone Numbers, which can be assigned to family members. The phone numbers work within the Xfinity app and can replace costly cell phone subscriptions for children. Instead, they would be able to use an iPod Touch or similar device to keep in contact.