'more'에 해당되는 글 5건

  1. 2009.04.22 Yahoo! Silent On Microsoft by CEOinIRVINE
  2. 2009.02.18 Chrysler Requests $5 Billion More in Federal Bailout Funds by CEOinIRVINE
  3. 2008.12.10 GM exec: Automakers likely will be back for more by CEOinIRVINE
  4. 2008.11.27 New jobless claims drop from 16-year high by CEOinIRVINE
  5. 2008.11.22 Mortgage woes mean more pets going to pound by CEOinIRVINE

Yahoo! Silent On Microsoft

IT 2009. 4. 22. 12:15

The Internet portal didn't shed light on a possible deal with the software giant as it reported a loss and more job cuts.


BURLINGAME, Calif. -- Beleaguered Internet portal Yahoo! reported first-quarter earnings of $118 million, or 8 cents per share, a decrease of 78% from the year-ago period.

In an effort to cut costs further, the portal expects to lay off 600 to 700 people, 5% of global employees, in the next two weeks.


On a conference call with analysts, Yahoo! ( YHOO - news - people ) CEO Carol Bartz said the company would invest in businesses "that generate the majority of our traffic" and discontinue less-popular offerings, rather than simply making across-the-board staff cuts. Candidates for more investment include the Yahoo! home page and functions like e-mail and Web search, she said, as well as mobile-phone programming and specific Web-content areas like news, sports and entertainment.

Bartz said that "brand advertising is not going to go away," and Yahoo! wants to position itself to take advantage of the economic recovery when it eventually arrives. The recession has walloped most companies' ad budgets, which has hurt Yahoo!'s bottom line.

The company generated revenues of $1.58 million, a decrease of 13% from the first quarter of 2008. Without currency losses, revenue would have declined 8%. Marketing revenues declined to $872 million from $966 million, and were driven by a 3% decline in search-advertising revenue.

Revenues based on fees from online services, partnerships and music downloads decreased 20%. Net income per share was in line with Wall Street estimates, compared with 37 cents in the first quarter of 2008. Earnings in the year-ago quarter, however, were bolstered by a one-time, $401 million gain.

On the conference call, Bartz didn't shed light on whether she is actively pursuing a Web-search deal with Microsoft ( MSFT - news - people ), an alliance many analysts think would benefit both companies. She reiterated, however, that search is "absolutely critical to Yahoo! It's critical to our customers and partners."



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Chrysler asked government officials today for an additional $5 billion in loans to ride out the deepening economic slump.

In its viability plan submitted to the Treasury Department, the automaker also said it would reduce its workforce by 3,000 employees and discontinue three vehicle models--the Aspen, Durango and PT Cruiser. The company plans to reduce fixed costs by $700 million, reduce one shift of manufacturing, produce 10,000 cars and trucks and sell $300 million additional non-earning assets in the coming year.

"We believe that Chrysler LLC will be viable based on the updated assumptions contained in this submission, and that an orderly restructuring outside of bankruptcy, together with the completion of our standalone viability plan, enhanced by a strategic alliance with Fiat, is the best option for Chrysler employees, our unions, dealers, suppliers and customers," said Chrysler chief executive Robert L. Nardelli in a statement.

In the company's original Dec. 2 plan to Congress, the automaker said it needed $7 billion to survive. Treasury gave Chrysler $4 billion in loans.

Now the company is asking for the remaining $3 billion, plus an additional $2 billion.

"We believe the requested working capital loan is the least-costly alternative and will help provide an important stimulus to the U.S. economy and deliver positive results for American taxpayers," said Nardelli.

Because consumers are having difficulty getting credit, Chrysler estimates seasonally adjusted annual sales will average 10.8 million vehicles this year until 2012. In recent years, that rate hovered around 16 million.

This translates into about $18 billion in lost revenue and a $3.6 billion decline in cash flows during the four years, according to Chrysler. Chrysler is also planning to launch 24 new fuel-efficient car models in the next 48 months.

Posted by CEOinIRVINE
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(CNN) -- There's no indication when -- or if -- the White House and congressional leaders will reach agreement on the Democrats' proposal to give troubled U.S. automakers a financial lifeline.

General Motors exec Bob Lutz says he sees the $15 billion proposal for automakers as a "bridge loan."

General Motors exec Bob Lutz says he sees the $15 billion proposal for automakers as a "bridge loan."

General Motors Corp. and Chrysler could get $15 billion in federal loans as soon as December 15, according to a working Democratic draft of proposed legislation and a senior Democratic congressional aide.

Meanwhile, one key GM official already is talking about the need for more help from the government -- even before this package's approval.

In an interview Tuesday on CNN's "American Morning," Bob Lutz, GM vice chairman of global product development, told anchor John Roberts that he expects the industry to go back to Washington next year for more money.

John Roberts: A lot of taxpayers are asking if you get this $15 billion collectively, what will you do to make sure your company won't fail?

Bob Lutz: Well, first of all, GM will only get a portion of that money and ... this is simply a bridge loan which will get us into the next administration, where we hope we can do something more fundamental. Because the main problem is the lack of liquidity and the lack of revenue flowing in as we're facing absolutely the lowest, lowest car market in history, and it's not just the domestics, the Japanese are all down 30 percent and 40 percent. Their inventories are piling up. You know, this isn't a question of Detroit is in trouble; the whole automobile industry is going to be in trouble

Roberts: You don't see Toyota and Honda coming to the government for a handout. But based on what you said there -- that this is just the beginning -- you're going to need more money next year?

Lutz: I think that's a reasonable assumption.

Roberts: How much more?

Lutz: At this point, you know, that's going to have to be discussed with Congress. We'll have to see. But this is definitely a bridge loan that will solve the immediate liquidity problem

Roberts: When you come to Congress next year and say, OK, you gave us $15 billion in December, now we need X amount of money, how difficult a sales job will that be?

Lutz: You know, I don't think anybody in Congress or the president-elect assumes that this is all the money that is going to be required to bridge this liquidity crisis that the American automobile industry is facing, and, again, it all depends on how fast we have an economic recovery. Again, let me restate this. At 10.8 or 10.5 million total market, we do not have a viable automobile industry in this country for anybody.
iReport.com: How is the automaker crisis affecting you? Should there be a bailout?

Roberts: Yesterday, you took out a full page ad in the Automotive News Journal; it was a big mea culpa. I guess on GM'S part. You said in part we acknowledge we disappointed you. We violated your trust by letting our quality fall and our designs become lackluster. You also laid out a GM commitment to the American people. First thing, you said specifically we're committed to producing automobiles you want to buy and are excited to own. There are many people who might think that's just a fundamental tenet of free enterprise, and why should that be revolutionary?

Lutz: It isn't. I think people were expecting this sort of message. What we're trying to do with an ad like that is live down this legacy of the '80s. Everybody agrees that American cars of the '80s were not very good and were not competitive with the Japanese. But that was a long time ago.

We've now equaled the Japanese in productivity and quality, and speaking for General Motors we got Car of the Year with the Saturn Aura, Car of the Year for Chevy Malibu, Truck of the Year with the Silverado, Green car of the Year with the Silverado hybrid, and on and and on. Car of the Year with the Cadillac CTS.

Roberts: One more question, Bob, certainly, as a condition of this bridge loan, the government is going to appoint a car czar to oversee what you do with it. They will talk about what kind of models you should build, fuel efficiency you should get. There will be a government approval of any vehicles you make. Who would you like to see as the car czar?

Lutz: Wait a minute. We don't know if it will be a czar or overseer. I doubt whether this person would dictate the product policy.

Roberts: Certainly an idea they are talking about. Who would you be comfortable with as car czar?

Lutz: I wouldn't even -- other than myself? Unfortunately I'm not available because I'm still gainfully employed.

Roberts: Some people [are] floating the idea maybe [that former Massachusetts Gov.] Mitt Romney would be a good car czar. He comes down hard on you guys. His father [George Romney] ran American Motors for a time.

Lutz: Well, I hardly think that the automobile business is a genetic trait, but he would probably be satisfactory as would many other people.

Posted by CEOinIRVINE
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New jobless claims fell more than expected last week from a 16-year high, the government said Wednesday, though they remain at elevated levels due to the slowing economy.

The Labor Department reported that initial requests for unemployment benefits fell to a seasonally adjusted 529,000 from the previous week's upwardly revised figure of 543,000. That is lower than analysts' expectations of 537,000.

Despite the improved number, initial claims remain at recessionary levels. The four-week average, which smooths out fluctuations, rose to 518,000, its highest level since January 1983, when the economy was emerging from a steep recession.

The number of people continuing to claim unemployment insurance also dropped unexpectedly to 3.96 million, down from the previous week's 4.02 million, which was the highest level in 25 years. The labor market has grown by about half since 1983.

Economists consider jobless claims a timely, if volatile, sign of how fast companies are laying off workers. Employees who quit or are fired for cause are not eligible for benefits.

The economy has been hit hard in recent months by the housing slump and the broader financial crisis, which have led consumers and businesses to cut back on spending.

Higher unemployment could lead to a downward spiral, as laid-off workers are more likely to fall behind on mortgage payments and other debt. Those who remain employed also may become more conservative in their spending.




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MIAMI, Florida (CNN) -- Furry signs of a down-trending economy peer dolefully from every kennel at the Broward County Humane Society shelter in Florida and hundreds of others across the country.

Bentley was given up by his owners because they could no longer afford him, a Florida shelter says.

Bentley was given up by his owners because they could no longer afford him, a Florida shelter says.

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Bentley, a 3-year-old Lhasa apso, was given up by his owners because they just couldn't afford to keep him any more.

Tinkerbell, a sweet, docile house cat, was surrendered by her owners after they found out that they had lost their home.

With foreclosures disrupting life, from the family house down to the dog house, and as Americans toil through a tough economic landscape, some of their pets face an even bleaker future in the pound.

"People lose their homes and have to move to apartments that don't accept pets, so they give them up," says Cheryl McAuliffe, a spokeswoman for the Georgia State Humane Society.

Over the past eight months, shelters around the county have seen more animals turned in because their owners have lost their homes or jobs. The shelters are also straining to meet a sharp increase in requests from people who are struggling just to provide food for their pets, says Stephanie Shain, director of outreach for the Humane Society of the United States.

Although they no longer have loving homes, Tinkerbell and Bentley are lucky because their owners gave them up to the shelter. Not every pet gets that kind of treatment. Miami-Dade Animal Services says that on a regular basis, it is called to foreclosed properties where neighbors report seeing pets chained up in a backyard or locked inside an empty house.

"I understand they may be scared for themselves and their kids when they have to leave, but I just wish people would find a place for their pets, too," says Sherry Marks, a Miami-Dade County animal control specialist.

Marks and other county animal control specialists get calls from police when they find a foreclosed home with a pet left behind. And it's not always easy to deal with the abandoned pet, she says. Some dogs are frightened and run, and others become aggressive.

Responding to a call in North Miami, Marks found two dogs at a home abandoned by foreclosure. With their leashes and water bowls still in the backyard, the dogs lingered. They didn't know and couldn't understand why it wasn't their home anymore.

A spokesman for the Humane Society of Douglas County in Georgia said the abandonment rate is tenfold what it was two years ago, before waves of foreclosures started hitting neighborhoods around the county. With more animals coming in and fewer people with the resources to pay for a pet, nearly all shelters there are overrun.

The rapidly approaching holiday season is usually a very busy adoption time for shelters. Last year, the Broward County Humane Society sent 60 animals to new homes December 23. This year, they say, they'll be thrilled if they adopt out anywhere near that number.

But Humane Society officials say people can economize when getting a pet. They urge people to adopt instead of buying a cat or dog. Adopted pets cost less than animals from a pet store, and they will already be spayed or neutered and have their initial set of vaccinations.

Also, pet owners don't have to choose between taking care of their pets or taking care of themselves. Most local shelters offer vaccinations, spaying or neutering at a fraction of the cost of a private veterinarian's office.



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