Domain: smartmoney.com
Stories and comments across the archive that link to smartmoney.com.
Stories · 19
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The Luck of the Irish Runs Out
theodp writes "Looks like threatening to take their ball and leave paid off for US tech firms. The Irish government announced plans this week to tap the welfare state and working class for much of the $20B in savings they've pledged to find over the next four years, but the austerity measures will not touch large businesses like Microsoft, Intel, Google, HP, Facebook, LinkedIn, and Pfizer, which created jobs and fueled exports in Ireland after being lured by low corporate tax rates. More than 100,000 Dubliners took to the streets to protest the bailout plan, calling for the Irish government to default on the country's debts, and demanding an immediate election. 'We should default,' said a retired union worker, 'the idea that the workers of this country should pay for the gambling of the billionaires is disgusting.'" -
Steve Jobs Crowned "Person of the Decade"
longacre writes "Apple CEO Steve Jobs won over 30% of the vote in an online poll published by personal finance and investing news site SmartMoney.com, enough to earn their 'Person of the Decade' title by a solid margin over luminaries such as Warren Buffett (17%), Ben Bernanke (13%) and Google founders Sergey Brin and Larry Page (12%). From the article: 'Certainly, Jobs accomplished more than probably any other CEO since he returned to Apple in the late 1990s: Not only did he revive sales at the failing computer company, he led the stock to a more than 700% increase in value, and forever changed the way people buy and listen to music.'" -
Student Loan Interest Rankles College Grads
theodp writes "Like many recent college grads, Steven Lee finds himself unemployed in one of the roughest job markets in decades and saddled with a big pile of debt — he owes about $84,000 in student loans for undergrad and grad school. But what's really got Lee angry are the high interest rates on his government-backed student loans. 'The rate for a 30-year mortgage is around 5%,' Lee said. 'Why should anyone have to pay 8.5%? The government has bailed out homeowners. It's bailed out big businesses. Why can't it also help students?' Not only that, federal student loans are the only loans in the nation that are largely non-dischargeable in bankruptcy, have no statutes of limitations, and can't be refinanced after consolidation, so Lee can forget about pulling a move out of the GM playbook. And unlike mortgages on million-dollar vacation homes, student loans have very limited tax deductability. A spokeswoman for the Department of Education blamed Congress for the rates which she conceded 'may seem high today,' but suggested that students are a credit-unworthy lot who should thank their lucky stars that rates aren't 12% or higher. Makes one long for the good-old-days of 3% student loans, doesn't it?" -
Microsoft Raises $3.8B in Bond Sale
pfleming writes "Microsoft quietly, or not so quietly, raised some cheap cash in bond sales yesterday. For a company that already has a huge cash war chest and doesn't carry debt, what is the incentive to sell nearly $4 billion in bonds? From the article: 'Microsoft is sitting on $25 billion in cash, so the company doesn't need the bond proceeds "unless they have something big in mind," says Reena Aggarwal, professor of finance at Georgetown University's McDonough School of Business.'" -
Disney-Hulu Deal Is Ominous For YouTube
Hugh Pickens writes "Dow Jones reports that Hulu scored a big victory when Disney agreed to take a nearly 30% stake in Hulu and put full episodes of its ABC TV shows on the site, enabling users to see shows like Lost, Scrubs, Ugly Betty and Desperate Housewives for free. Disney views the move as a way to reach a new audience that isn't coming to the network's own website. Although the ABC.com website has attracted regular viewers of its shows, Hulu offers the opportunity to tap into a new group of viewers. Now Google is under mounting pressure to add more professional content to YouTube in order to attract more advertisers. According to Dow Jones' Scott Morrisson, the equity structure of the Disney-Hulu deal suggests that content creators want greater involvement in online distribution than Google has offered with YouTube. 'Content providers don't want to give (YouTube) content because the advertisers aren't there yet,' said Edward Jones analyst Andy Miedler." -
Pfizer Files Suit Against Viagra Spammers
edb points to the Wall Street Journal story (carried at SmartMoney among other places) which begins "Pfizer Inc. (PFE) launched a broad legal offensive and Internet advertising campaign to stanch online commerce in bogus Viagra. The drug maker filed suit in federal district court for the Southern District of New York in Manhattan on Monday against three companies and two individuals operating Web sites that allegedly sell fake versions of the popular impotence drug." -
On the Supercomputer Technology Crisis
scoobrs writes "Experts claim America has been eating our 'supercomputer feed corn' by developing clusters rather than new supercomputer processors and interconnects. Forbes says America is playing catch-up and that the new federal budget items are too little too late. Cray is laying people off due to decreased federal spending and claims lower margin products have forced them to create products based on commodity parts. Red Storm, one of their new Linux-based products, is being delayed to next year." -
Microsoft to Launch MSN Music Service in 2004
securitas writes "SmartMoney.com reports that a Microsoft spokeswoman confirmed plans to launch an online music download service in 2004 via the MSN Web site. The story was first reported in the Wall Street Journal (paid subscription required). Microsoft may undercut the per-song prices of competitors Apple iTunes and Roxio Napster. A reliable source is cited as saying that Microsoft has been in talks with major music companies and a post for a senior-level marketing position for the service was added to Microsoft's recruiting site last week. Observers expect that the company will use Windows or the bundled Windows Media Player to gain a competitive advantage over other services that require a software download to use them. Interestingly, in this May 2003 analysis piece about Apple's iTunes Microsoft denied any plans to launch a music download service. More at CNet." -
Microsoft to Launch MSN Music Service in 2004
securitas writes "SmartMoney.com reports that a Microsoft spokeswoman confirmed plans to launch an online music download service in 2004 via the MSN Web site. The story was first reported in the Wall Street Journal (paid subscription required). Microsoft may undercut the per-song prices of competitors Apple iTunes and Roxio Napster. A reliable source is cited as saying that Microsoft has been in talks with major music companies and a post for a senior-level marketing position for the service was added to Microsoft's recruiting site last week. Observers expect that the company will use Windows or the bundled Windows Media Player to gain a competitive advantage over other services that require a software download to use them. Interestingly, in this May 2003 analysis piece about Apple's iTunes Microsoft denied any plans to launch a music download service. More at CNet." -
Slashback: Lamo, Trilogy, Searching
Slashback tonight brings updates on the recent Google hiccup, LookSmart and the FBI's note-snooping in the Adrian Lamo case, as well as (at long last!) a list of the theaters whose seats will soon be smooshed for far longer than usual under the weight of those dedicated enough to sit through 10 hours of Lord of the Rings. Read on below for the details.Microsoft thinks LookSmart looks less smart. securitas writes "Internet search company LookSmart was dropped by Microsoft's MSN service today. MSN has decided not to extend its licensing contract with LookSmart beyond January 2004. The news is devastating for LookSmart since, 'Microsoft accounted for approximately 65 percent of listings revenues, and all of LookSmart's licensing revenue in the second quarter of 2003,' according to a company press release not listed on LookSmart's site. The move comes after LookSmart recently launched its own Overture-style pay-per-click service and indicates Microsoft is close to launching its new search engine technology designed to unseat Google for the search crown. All of this is against the backdrop of acquisitions by rival Yahoo. More coverage at SearchEngineWatch and a Reuters mirror at CNN Money."
They could have fixed this if they'd googled for an answer ... powerg3 writes "This follow-up, explains the Google wackiness posted yesterday. Here's the quote from the Google Weblog: '...when a spam result comes up in a search, Google not only blocks the spam, but every result after it. This means that for searches where spam results manage to rise to the top, very few -- sometimes zero -- results will be returned....It's pretty amazing that such a serious bug made it past Google's tests. It will be interesting to see how quickly it's fixed.'"
Pardon me, mum, can I borrow your hard drive? AndreL writes "The Guardian has an update about the BBC's digital archive plans. They're considering using P2P technology to avoid bandwidth bottlenecks. The bad news: because of technical, financial, and legal problems nothing will happen until 2006 at the earliest."
Please arrive in costume if at all. KTecumseh writes "The list of theaters showing the extended editions of LOTR as been revealed. You can check out the list at the official website, and before you look, pray that you live somewhere close by to take advantage of this once-in-a-lifetime experience. For those that can not make the full 10-hour saga, they are also showing the first two extended additions on different dates, but who wants to miss out on an entire theater of sweaty LOTR fans."
Shamus Arrigan asks plaintively "There is no mention of these ticket sales in any other country. Does anyone know when and where these tickets will be sold at? (Canada especially)"
Wait, are you fellas press? Dangnabbit! ccnull writes "Good news from the inquest against hacker Adrian Lamo. According to a paragraph in a Washington Post column (buried about 3/4 of the way down the story), the FBI appears to be backing off from pursuing reporters' notes in the case. Relevant quote: 'A Justice Department official says the FBI agent "acted out of turn" by not seeking approval from the U.S. attorney's office in Manhattan and Attorney General John Ashcroft's press office. "The agent did not follow standard procedures," the official says. "We're just not going to pursue it. It is the policy of the Justice Department to exhaust all other means before seeking information from members of the media."'"
Eh, what's a few orders of magnitude? Grant hayes writes: "It seems the decimal point in the Mono story you ran is being a bit ambitious. We should be reading Mono 0.28, not Mono 2.8. Check the link below as well as links there to other Mono resources; I see 0.28 throughout." Here's the Mono site -- guilty as charged. Thanks for the correction.
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Rising Game Sales Reveal Trends?
Thanks to Smartmoney.com for their report into GameStop's second-quarter financial results, which revealed "a 31% surge in videogame software sales", although a drop from last year's hardware-discounted highs, and "better-than-expected performance in stores." According to the report, "...the company said videogame-software sales were 'very strong' for the quarter, with leading titles such as 'Enter The Matrix' from Atari Inc., 'NBA Street: Volume 2' and 'NCAA Football 2004' from Electronic Arts Inc. and 'Star Wars: Knights of the Old Republic' from LucasArts." Most interestingly, GameStop indicated they're expecting "...further hardware price reductions 'or similar promotional activities' during the third quarter", a move that may include the rumored $99 GameCube price drop which IGN Cube are confidently predicting for the end of September. -
Concorde to be Grounded
Goonie writes "This BBC article reports that Concorde flights are to come to an end in October. It may be a noisy and costly anachronism, but it's sad to see the end of perhaps the coolest commercial plane ever to fly." The financial wires carried a story the other day showing how much jet fuel demand has dropped recently. -
West Virginia Joins Massachusetts in MS Appeal Bid
diwolf writes "West Virginia is seeking to join Massachusetts in appealing a U.S. District Court decision that rejected a tough antitrust remedy sought by nine states in the Microsoft Corp. antitrust case. This is also being reported at CNN and ZDNet." -
Slashback: Gopherectomy, Portacinema, Disunity
Slashback tonight with a quartet of updates. So, read on for more information on portable video viewing (and instant recording!), United Linux and one analysts view of What it All Means, Microsoft's answer to a Gopher hole, and why easily guessed passwords sometimes save the day.Throwing the gopher out with the bathwater. An Anonymous Coward writes: "As reported on News.com and discussed on Slashdot, MSIE's gopher support had a serious security vulnerability that allowed your machine to get ROOT'ed.
Well, it seems that Microsoft is unwilling or unable to make the fix, so it is removing support for the gopher protocol from IE. Not that MSIE's gopher support isn't very poorly implemented anyways."
Kept out of the U.S. by the secret conspiracy, no doubt. Buggalo writes "When I saw the article about the Pogo Flipster I thought I'd mention this too. Of course, it's not available in the US (not yet at least), but it sounds cool anyway. It plays MP4 video as well as MP3 audio. One thing that differentiates it from the Flipster is that this one includes video inputs so you don't even need a computer to get anything onto it. It also seems to have a larger screen. From what I can tell it has 64 megs of flash memory built in, and has an SD memory card slot as well. Sorry the website is in Japanese, but you can use Babelfish to translate it."
Not betting on a United front. dgb2n writes "Smart Money Magazine published an excellent article covering the business implications of the United Linux consortium. It provides some good insight into Red Hat's business model, stock price, and future prospects and names a potential winner in the Linux market."
At least this one aspect is happy. Hellkitten writes "The password for the database has been found, it was as simple as 'ladepujd', the name of the database's creator spelt backwards This previous Slashdot article explains the problem they had.
Aasentunet posted this notice, telling the password and thanking everyone that helped"
ZDNet has the story here as well."
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Smart Money Picks 10 Rising Careers
jonathanjo writes "Smart Money announces the ten hot jobs they see rising in the next decade. Among them, many familiar to slashdotters (wireless engineer) and several of those are of dubious ethical value (data miner, IP lawyer). "Forensic Accountant" even made accounting sound cool! But why oh why did I give up on being an Adventure Travel Guide to be a web designer? D'ohh!" -
Smart Money Picks 10 Rising Careers
jonathanjo writes "Smart Money announces the ten hot jobs they see rising in the next decade. Among them, many familiar to slashdotters (wireless engineer) and several of those are of dubious ethical value (data miner, IP lawyer). "Forensic Accountant" even made accounting sound cool! But why oh why did I give up on being an Adventure Travel Guide to be a web designer? D'ohh!" -
Intel Introduces 1 GHz Chips
sheck was one of the first people to write about the release of Intel's 1 Ghz chip. Beating Intel to the punch, we already covered AMD's 1 Ghz Athlon. If you want more coverage check out C|Net. This corporate peeing match about who can release these machines first is pretty funny to watch. -
United Parcel Service Sued for Insurance Fraud
Is0t0pe writes "It seems that UPS might have been taking all that money we spend for insuring our packages and funneling it into an offshore company owned by UPS shareholders- Here's the scoop." The story's from SmartMoney.com. An interesting tale of alleged financial manipulation that affects anyone who's ever insured a UPS package for over $100. -
United Parcel Service Sued for Insurance Fraud
Is0t0pe writes "It seems that UPS might have been taking all that money we spend for insuring our packages and funneling it into an offshore company owned by UPS shareholders- Here's the scoop." The story's from SmartMoney.com. An interesting tale of alleged financial manipulation that affects anyone who's ever insured a UPS package for over $100.