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Sharp Electronics Gets Downgraded
Sharp has had its credit rating cut to junk status by the Standard and Poor’s rating agency.
Sharp, which invested heavily during the LCD television boom in the mid 2000s, is now paying the price as demand for televisions slumps across the board. Now Standard and Poor’s has bestowed the ignominy of lowering Sharp’s credit rating to BB+, putting it into what’s called junk status.
Standard and Poor’s also warned that Sharp has weak cash flow and is facing worsening market conditions, two things that will not endear it to investors. It said, “Sharp’s liquidity position has weakened, and the company is highly dependent on short-term borrowings in light of weak internal cash flow and a less favourable funding environment.”
Sharp has had a troubled year and earlier this week announced that it will lay off 2,000 employees in Japan, as its LCD business simply cannot support itself. Standard and Poor’s said that unless Sharp’s fortunes improve, the firm could be hit with another credit rating downgrade.
Standard and Poor’s said, “We may consider lowering the ratings if Sharp’s earnings in (the year to March 2013) and prospects for its recovery deteriorate even further or the company’s financing environment and relationships with credit banks and strategic partners worsen.”
Intel Partners With WMware
Intel has teamed up with Microsoft’s rival VMware to deliver a platform for “trusted cloud.”
The technology will mix Intel’s Trusted Execution Technology (TXT) and VMware’s vSphere 5.1, platform for building cloud infrastructures. Intel said its hardware-enhanced security capabilities integrated directly into the processor combined with vSphere 5.1 would provide a hardened and high-integrity platform to run business-critical applications in private and public cloud environments.
Intel thinks that the biggest barrier to cloud adoption is the fact that companies are worried about security. Jason Waxman, general manager of Intel’s Cloud Infrastructure Group, in a statement that Intel TXT provides hardware enforcement to help overcome some of the most challenging aspects of cloud security, including detection and prevention of bios attacks and evolving forms of stealthy malware, such as rootkits.
Will Facebook Go Lower?
September 6, 2012 by admin
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Facebook is still overvalued and analysts are starting to agree with us that the company could fall to about $13 a share.
SmartMoney’s Jack Hough is being quoted by Forbes as saying that Facebook should be worth about half what is now – about $29.52 billion, or just a tad over $13 per share. Hough compares Facebook to Google which trades at 3.6 times its projected revenues for 2014. Analysts expect Facebook to have $8.2 billion in sales that year which means you just multiply this figure by about three.
All makes sense and is a similar view to what I said when Facebook issued its daft IPO and people lost their shirts and underpants on the deal. Part of the problem is still that Facebook has not worked out a good way to make money from advertising and it has not got an effective mobile strategy.
Dell Names Chief As Sales Tank
Dell has snagged a former Hewlett-Packard executive to head up its server, networking and storage division, a critical area for Dell as it tries to expand its data center business and reduce its dependence on PCs.
Marius Haas was head of HP’s networking business before leaving two years ago to join an investment firm. On Tuesday he was named president of Dell’s enterprise solutions business, where he’ll oversee the engineering, development and marketing of Dell’s enterprise products.
Haas replaces Brad Anderson, who ran Dell’s enterprise division since 2005 and is now leaving the company.
Dell announced the news on the same day it reported financial results for its second quarter, which closed Aug. 3. Its profit for the period declined 18 percent from a year earlier, to US$732 million, while revenue fell 8 percent to $14.48 billion, Dell said.
Its server and networking sales were among the highlights for the quarter, up 14 percent from last year, while sales of storage products were down 13 percent. Together, the three product categories account for about one-fifth of Dell’s overall business.
Ford Dealers Get iPad App
August 21, 2012 by admin
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Ford dealers now have an iPad app they can access to quickly check available inventory and offer product information to help out customers in their showrooms.
Also included in the Showcase app is video content on car features that sales personnel can show to customers on an iPad as they shop at a dealership.
Michelle Moody, cross vehicle marketing manager for Ford, said the company started considering the app in early 2011 to improve the car-buying experience.
The app builds on the Ford.com website, which allows for configuring and comparing vehicles. Sales personnel can use the iPad app to determine what features a customer wants and then immediately check inventory to find a vehicle in stock that most closely matches those needs, Ford said in a statement.
Videos on the app can explain a variety of features such as Sync and active parking assistance, along with other features such as a lane-keeping system that Ford said might not be easy to showcase during a test drive.
Dell’s Cloud Plans Falls Behind Schedule
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Dell announced an aggressive schedule last year to roll out cloud-based application services, but it appears that the schedule was a little too aggressive.
Dell said last August that it planned to launch an online analytics service in the first half of this year for small and midsized businesses, but that service isn’t due now until early next year, a Dell executive said.
“Like a lot of development projects, it can take a bit longer than you think,” Paulette Altmaier, general manager of Dell’s Cloud Business Applications group, said in an interview Thursday.
Dell also said it would launch a platform-as-a-service offering this year based on Microsoft’s Azure platform. On Friday, a Dell spokeswoman said the company no longer has a delivery date for that service.
The delays are a setback for Dell, which is trying to reduce its dependence on PCs and build more profitable businesses in services and software. But a lot of companies are moving slowly to the cloud, so the hold-up isn’t a disaster, said Peter Ffoulkes, an industry analyst with 451 Research Group.
“The move to the cloud is not a fast journey and for most people it is still largely a future. I would not expect a quarter or two to make a big difference in practical terms,” he said.
Dell has also made a string of software acquisitions in the past year that might be causing it to rethink its software-as-a-service strategy. It updated press and analysts on its software plans Thursday.
When it does arrive, the analytics service will offer “cross-app” analytics, meaning customers will be able to import data from one or more applications to a data warehouse that Dell will host for them online, and then perform analysis on that data.
Good Technology Updates Security
July 25, 2012 by admin
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Good Technology today announced two updates to its mobile security software products across IOS, Android and Windows Phone devices.
Powering mobile security for major enterprises such as Barclays, Sainsbury’s and LOCOG, Good Technology claims the releases are the first of a kind for the industry and address security threats linked to the bring your own device (BYOD) procedures being used in most big companies.
The first update announced by the firm is the addition of what it calls “Appkinetics” to its Good Dynamics line, which aims to solve the problem of secure private corporate data leakage.
“Good’s patented AppKinetics technology builds on the company’s proven ‘containerization’ security model to enable business apps from Good, its Good Dynamics partner independent software vendors (ISV), and internal enterprise developers,” the firm said in a statement.
“This is to securely exchange information within and between applications and create seamless multi-app workflows without compromising security or employees’ privacy and personal experience.”
The firm’s second update is the addition of eight new partnered apps to its Good Dynamics ecosystem covering the areas of business intelligence, collaboration, document editing, document printing, file storage/content management, remote desktop management and mobile application development platforms (MADPs).
This update allows developers to integrate the Good Dynamics technology into apps so that companies can create secure end-to-end workflows of protected, mobile applications to drive business processes.
Good Technology’s EMEA GM Andy Jacques explained, “If you download the standard consumer document editing application you can copy and paste from that from that app into another app.”
He continued, “If you were to open a piece of corporate mission critical data you can copy and paste that and put it onto Hotmail for example.”
Sharp To Pay Fine In Price Fixing Settlement
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Sharp said on Monday it has agreed to pay Dell and two other firms $198.5 million to settle a lawsuit for fixing LCD panel prices in Europe and North America.
The company agreed to settle the civil lawsuit, which was first filed in November of 2009 against a group of companies including Sharp, Epson, Hitachi and Toshiba for collusion on prices of LCD panels sold to Dell. A Sharp spokeswoman said the company made the decision independent of the other firms involved in the lawsuit, and the payment would settle the suit with Dell. Sharp did not name the two other companies besides Dell.
“After broadly considering factors such as the U.S. civil lawsuit system and the facts of this case, Sharp has determined that agreeing to a settlement is the best policy,” the company said in a statement.
Dell sought damages to recover funds it paid for LCD panels purchased at inflated prices. The lawsuit involved TFT (thin film transistor) panels, widely used in TVs, laptops and handheld gadgets.
Is GM Reconsidering Facebook
July 12, 2012 by admin
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General Motors Co and Facebook Inc are in talks about the return of the U.S. automaker as a paid advertiser almost two months after GM said it would stop running ads on the social networking website, sources close to the situation said on Tuesday.
Although the two companies remain far from reaching an agreement, Facebook executives have actively courted the world’s largest carmaker. One source said Facebook was not pushing for GM’s immediate return, but offered to provide data showing the effectiveness of the website’s paid ads.
Facebook Chief Operating Officer Sheryl Sandberg sent GM Chief Executive Dan Akerson an e-mail urging the company to reconsider its decision shortly after the third-largest U.S. advertiser pulled its ads in May, a move that undermined confidence in Facebook on the eve of its highly-anticipated initial public offering, according to sources who were not permitted to speak publicly because the talks are ongoing.
T-Mobile To Make More Cuts
May 25, 2012 by admin
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T-Mobile USA will eliminate an additional 900 jobs in a restructuring, on top of a 1,900-job reduction at its call centers that was announced in March, the carrier confirmed on Wednesday.
T-Mobile, now with about 36,000 employees, has faced more than two years of subscriber losses. Last year, the wireless carrier lost out on a $39 billion deal to be taken over by AT&T — federal regulators rejected the deal.
In its first quarter results announced May 9, T-Mobile said it lost 510,000 contract customers. It now serves 33.4 million customers.
Not having the iPhone 4S to sell, compared to the other three major U.S. carriers, also hurt T-Mobile and lead to more contract deactivations, the company said in its first-quarter results.
A T-Mobile spokeswoman said in an email that the elimination of 900 jobs was the result of a “restructuring of key functions and departments across the company, including the elimination of some positions and outsourcing of others.”