Archive for the 'Business' Category...
Filed under Business
A cascading computer failure in the nation’s air-traffic control system caused severe flight delays and some cancellations Friday along the East Coast. A computer system in Atlanta that processes pilots’ flight plans and sends them to air-traffic controllers failed early Friday, Federal Aviation Administration spokesperson Diane Spitaliere said. In response, the agency rerouted the system’s functions to another computer in Salt Lake City, which overloaded because of the increased volume of data, magnifying the problem.
Original post by Alan Zibel and software by Elliott Back
Filed under Business
National Semiconductor said Thursday its fourth-quarter profit fell 24 percent, but still came in above analyst expectations. Net income for the quarter was $90.1 million, or 28 cents per share, down from $118.8 million, or 34 cents per share, for the fourth quarter of 2006. While its performance has been pinched by an industry-wide inventory correction, the company said fourth-quarter bookings climbed 6 percent sequentially over the third quarter, with particularly strong bookings in the Asia Pacific market.
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Original post by Kimberly Hill and software by Elliott Back
Filed under Business
Sony, maker of the embattled PlayStation 3 video game console, said Thursday it plans to lay off employees of its U.S.-based game unit. The job cuts, according to Sony, are part of a corporation-wide restructuring effort. In April, Sony announced that it would cut up to 160 jobs from its European facilities. The layoffs, which represented an 8.4 percent reduction in its European workforce, were also said to be part of an effort to streamline operations. The company said at the time that it was also considering restructuring its U.S. and Japanese arms.
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Original post by Walaika Haskins and software by Elliott Back
Filed under Business
Openwave Systems, a top provider of software solutions used in the communications industry, has rejected an offer to be bought out and taken private, bucking a recent trend that has seen scores of companies swallowed up by private equity firms. The Redwood City, Calif.-based company’s board voted to reject the unsolicited offer made by two funds managed by Harbinger Capital Partners, Openwave said. Harbinger had offered to buy just over 40 million shares of Openwave stock — a 49 percent interest — for $8.30 per share. The all-cash deal was worth about $335 million.
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Original post by Keith Regan and software by Elliott Back
Filed under Business
54mc writes “The IFPI, an international recording industry organization, has released a list of Ten “Inconvenient Truths” of file sharing. Though the group has a vested interest, it’s still an interesting read as it tears apart some of the most common arguments in favor of file sharing. Ars Technica follows up with a more thorough explanation of some of the points. ‘Point five is an attempt to turn the “innovation” argument on its head. For years, pundits outside the music industry have accused labels of pandering to teens through boy bands and “manufactured” celebrities instead of being concerned with finding, producing, and releasing art. The IFPI suggests that the labels could (and would) be doing exactly that if file-swapping went away. And then there’s point seven, which isn’t an “inconvenient truth” at all but more of a rant against those who prefer giving copyright holders less than absolute control over [...]
Original post by Zonk and software by Elliott Back
