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Apple's late boss Steve Jobs to receive Grammy (AP) : Technet |
- Apple's late boss Steve Jobs to receive Grammy (AP)
- Netflix CEO's stock options slashed after bad year (AP)
- Review: Take the time to curate Facebook Timeline (AP)
- Steve Jobs wins a posthumous Grammy (Yahoo! News)
- 19th century safe gets second life as gold-dipped luxury item (Yahoo! News)
- Facebook Names Top Games of 2011 (Mashable)
- Soletron targets $60 billion streetwear market (Reuters)
- Yahoo to weigh deals for Asian assets: sources (Reuters)
- AT&T wins regulatory approval to buy Qualcomm spectrum (Reuters)
- Fandango adding PayPal support to mobile app, makes movie ticket purchases easier (Appolicious)
- Traffic boom allows Pinterest to grab top 10 rank for social networking sites (Digital Trends)
- Common gets through 'low point' to record 9th CD (AP)
- Samsung Galaxy Tab 10.1N passes German legal muster despite Apple’s objections (Appolicious)
- FCC approves AT&T purchase of Qualcomm spectrum (AP)
- Rhapsody passes million US subscriber milestone (AP)
- Steve Jobs to get Grammy for revolutionizing music (Reuters)
- Cantor Entertainment files for IPO of up to $100 million (Reuters)
- How the major stock indexes fared on Wednesday (AP)
| Apple's late boss Steve Jobs to receive Grammy (AP) Posted: 22 Dec 2011 03:25 PM PST LOS ANGELES – Apple co-founder Steve Jobs is receiving a posthumous Grammy for his technological innovations in the arts. Jobs is among a dozen people, music groups or companies receiving honorary awards Feb. 11, the day before the Grammys. He died of cancer in October. The Grammys are honoring Jobs with one of the group's Trustees Awards, citing the late Apple boss' advancements that "transformed the way we consume music, TV, movies, and books." Grammy organizers called him a "creative visionary" for Apple Inc. innovations that include the iPod, iPhone and iPad. Others receiving honorary awards the day before the Grammys include Diana Ross, the Allman Brothers, Glen Campbell, Antonio Carlos Jobim, George Jones, the Memphis Horns and recording engineer Rudy Van Gelder. ___ Online: |
| Netflix CEO's stock options slashed after bad year (AP) Posted: 22 Dec 2011 01:27 PM PST SAN FRANCISCO – Netflix CEO Reed Hastings will pay a $1.5 million penalty for blunders that alienated the video subscription service's customers and pulverized its stock. The punishment will be delivered with a 50 percent reduction in his stock option awards next year, according to regulatory documents filed Thursday. Instead of the $3 million stock option allowance he received this year, Hastings will get $1.5 million in 2012. His base salary will remain unchanged at $500,000. It would have been difficult to make a case for giving Hastings a raise coming off a year in which his decisions transformed Netflix from Wall Street darling to bum. The company's stock price plunged, and subscribers fled in a rebellion against a U.S. price increase of as much as 60 percent. The aftershocks of the subscriber exodus are expected to saddle Netflix with a net loss next year, the first time that has happened in a decade. Netflix Inc. declined to comment on the changes to Hastings' compensation. Hastings has repeatedly taken the blame for mismanaging the announcement of the price increase in July and then making things worse two months later by trying to spin off Netflix's DVD-by-mail rental service into a separate website called Qwikster. Since scrapping that idea in October, Hastings has been trying to repair some of the damage. That will probably take a while. Netflix's stock price has plunged 75 percent since mid-July to wipe out $12 billion in shareholder wealth. The backlash surprised and humbled Hastings, who revealed at an investor conference this month that he once thought Netflix's stock would hit $1,000. Netflix's stock gained $2.87 Thursday to close at $73.84, down from its July high of just under $305. The stock's downfall elicited some gallows humor from Hastings on his Facebook page. "In Wyoming with 10 investors at a ranch/retreat. I think I might need a food taster," Hastings posted two days after announcing his Qwikster plan. Hastings' missteps also have cost Netflix at least 800,000 subscribers. That's how many customers Netflix lost during the July-September period. Netflix has said the exodus extended into October and November, though it isn't providing specifics until it reports fourth-quarter earnings next month. Some analysts have suggested Netflix should consider rescinding at least part of its price increase, but Hastings has brushed aside the notion so far. At the investor conference, he predicted his bad moves will eventually forgotten if Netflix's service for streaming video over high-speed Internet connections keeps growing throughout the world as DVDs slowly fade into obsolescence. |
| Review: Take the time to curate Facebook Timeline (AP) Posted: 21 Dec 2011 12:08 PM PST NEW YORK – I've often joked that if something's not on Facebook, it didn't happen. Facebook's new Timeline feature makes that adage even more apparent. Timeline is Facebook's new way of presenting you to the world. It replaces your traditional profile page — the one with your headshot and a smorgasbord of personal musings, photos and other items to share with friends. Instead of just a snapshot of you today, Timeline is supposed to be a scrapbook of your whole life. But these highlights are culled from what Facebook sees as important — the stuff you and your friends have chosen to write or post photos about over the years. So it's crucial to spend time curating it, so your life doesn't come across as vain. If you're not careful, you also might reveal skeletons from your past to more recent friends. Once you're ready for Timeline, you have a week to airbrush your life before it replaces your current profile. That's not a lot of time when you have (cough, cough) years of your life to go through. I suggest focusing on the years since you joined Facebook. You can always add photos from childhood later. To set up Timeline, visit http://facebook.com/timeline. Facebook will force you to switch within a few weeks, so don't procrastinate. MAKING A SPLASH Start by choosing a cover photo, the image that will splash across the top. You can choose a sunset, your dog, a hobby, anything that reflects who you are. Keep in mind the dimensions are more like a movie screen than a traditional photo. A close-up portrait of your face won't work well, but one of you lying horizontally will. Your old profile photo will still be there, but it'll be smaller. If you haven't done so already, you can add where you've worked, lived and went to school. If you specify years — such as when you started a job — those items will be added to Timeline's stream of life events, even if they took place before Facebook's founding in 2004. You can also add other life events to the stream, such as when you broke your arm and whom you were with then, or when you spoke your first word or got a tattoo. By adding them to Facebook, you signal that those things really did happen. MORE ON THE STREAM The timeline stream is your life on Facebook in reverse chronological order. At the top are your recent status updates, comments from family and friends, photos you're in and events you've attended. As you scroll down, you'll get highlights from last month, then earlier in the year. Scroll down even further for last year, the year before that and so on. Click one of the "Show" links to get all posts from a particular month or year. Posts will be more sporadic the further you go back. You'll see when you joined Facebook and the first post you ever made — mine was "Anick Jesdanun is wasting a lot of time on facebook." Beyond that, you may see details about high school or college. A colleague even saw the birth of her younger brother listed, after having told Facebook which of her friends were her siblings. The bottom simply says "Born" with your birth date and birthplace, if you've chosen to share that. This may come across as a big privacy breach, but keep in mind that people could have seen many of those posts before by continually hitting "Older Posts." The difference is most people wouldn't bother. With Timeline, you can jump more quickly to older posts. Another thing to consider: Although your privacy settings remain the same, your list of friends has likely grown over the years, and your definition of friends has probably broadened to include parents, bosses and random flings at weddings. Someone you didn't know in 2008 would suddenly have easier access to something you posted then. CURATING YOUR LIFE You can change who has access to which posts. Perhaps you'd want to narrow an embarrassing photo from Thanksgiving to family members who were there. You might want to delete other posts completely or hide them so that only you can see them. You can change the date on a post. For example, if you had waited a week to tell the Facebook world that you broke up with someone, you can change the date to reflect when all the screaming and crying took place. You can also add where you were, retroactively using a location feature that Facebook hadn't offered until recently. For major events in your life, you can click on a star to feature them more prominently. You'll likely feel overwhelmed when you see your Timeline for the first time. Years-old posts made by people you're no longer friends with are still there. Musings on a trip or a long-forgotten event suddenly lack context. Your life may also come across as duplicative, such as when multiple friends post similar photos from the same party. Here are a few tips: • Start with your older posts. You were probably experimenting with Facebook then, and most of those could go into hiding. Plus, those are the ones you'd need to be most careful about because you had reason to believe only a few friends would see them. • Find the button for Activity Log. Click that to see all of your posts at a glance and make changes to them one by one. Open Facebook in a new browser tab first, though. Every time you switch between the log and the timeline stream, Facebook resets to a default view rather than let you return to where you were. So have one tab for the log and the other for the stream. • Think carefully about what you want to highlight when people scroll through your past. Facebook has a secret formula for determining which items are included in your highlights, using such factors as how many friends commented on a post. That may not necessarily be what you want to showcase. Unfortunately, getting the stream to look right is difficult. There's no easy way to highlight something Facebook's formula didn't pick, without starring it such that it gets splashed across the page. I also couldn't find a good way to remove something from the highlights without hiding or deleting it completely. There are events I wouldn't consider major, but would want people to see if they took the time to browse through my past. There also ought to be a way to star or hide posts in batches. And oddly, Facebook includes stuff posted by others, but it doesn't include items you've posted on other profiles. Older posts come across as one-sided without the back and forth for context. MOVING FORWARD Overall, I like the concept behind Timeline. I got a nice stroll down memory lane, and I enjoyed stalking my friends and uncovering their pasts, too. I just wish it were easier to customize, and I don't appreciate being rushed. Facebook spent months developing Timeline and rolling it out to its 800 million users. Why give us just seven days? If you're not ready to start Timeline, you can still view Timelines your friends have already activated. Just keep in mind that Facebook eventually will force you to switch, so you might as well do it now if you have the time. You might also want to take this as an opportunity to clean up your presence on Facebook. Review your privacy settings and get rid of friends who don't need to be there. That will be the topic of next week's column. ___ Anick Jesdanun, deputy technology editor for The Associated Press, can be reached at njesdanun(at)ap.org. |
| Steve Jobs wins a posthumous Grammy (Yahoo! News) Posted: 22 Dec 2011 06:53 PM PST |
| 19th century safe gets second life as gold-dipped luxury item (Yahoo! News) Posted: 22 Dec 2011 06:45 PM PST |
| Facebook Names Top Games of 2011 (Mashable) Posted: 21 Dec 2011 03:52 PM PST Social gaming was a big trend in 2011 and we expect the market to continue to grow in 2012. Facebook, the biggest platform for social games, released its list of the most popular games of 2011. Unlike most year-end lists, this one actually has quite a few surprises. I fully expected CityVille, Zynga's hit social game, to top the list. Nope. According to Facebook's measurements, that honor belongs to Gardens of Time. [More from Mashable: Facebook Wants You to Know How it Makes Money [VIDEO]] In the update announcing the list, Facebook does say it is basing its ranking on "games that drew the most active users and received the highest user recommendations." That probably accounts for some of the discrepancies we found against other Facebook app data sources, like AppData.com. According to AppData, CityVille is the most popular game with 48.8 million monthly active users. Conversely, Gardens of Time ranks much further down the list with 8.5 million monthly active users. [More from Mashable: Digg Makes Sharing Its Links to Facebook Automatic] Accounting questions aside, here are Facebook's ten most popular games of 2011:
This story originally published on Mashable here. |
| Soletron targets $60 billion streetwear market (Reuters) Posted: 22 Dec 2011 06:14 PM PST (Reuters) – Soletron, a start-up backed by former Adobe Systems Inc Chief Executive Bruce Chizen, is building an online marketplace for streetwear and sneakers, a market that is worth almost $60 billion by one estimate. Soletron, run by Shane Robinson and Allen Steigman, raised $265,000 from John Friedman of venture capital firm Easton Capital and New York angel investors in early 2011 and launched its market in November. "Urban wear is a huge niche that no one really pays attention to," said Chizen, who is on Soletron's advisory board with Superbowl MVP Santonio Holmes. "To become the Etsy of the streetwear market -- that's the whole idea." Etsy, an online marketplace for handmade and vintage products launched in 2005, has over 12 million members and saw sales of almost $500 million this year, through November. Soletron is raising more money in a series A round of venture capital financing early next year and Chizen plans to invest in the business then. Other advisers include Tom Austin, co-founder of basketball apparel and shoe company AND1, and Bob Rice of investment firm Tangent Capital. Soletron has about 50 streetwear and sneaker designers selling more than 1,200 products so far. Brands include Dunkelvolk, Nooka and Kanvas Kings. The company collects transaction fees from linking designers and buyers and generates other revenue from advertising and member subscriptions. Robinson and Steigman have big plans because their target market is potentially huge. There is little official data on this part of the apparel market, but accounting firm Grant Thorton pegged urban apparel sales at $58 billion in 2006. U.S. teenagers aged 15 to 19 spend $22 billion a year on fashion products, according to estimates by Piper Jaffray. Action sports brands, Wall Street's term for streetwear brands like Volcom, Quiksilver and Hurley, have been the most popular among wealthier teens since late 2008, according surveys conducted by the investment bank. Volcom was acquired by French luxury giant PPR this year, and Nike owns Hurley. "This industry is the proverbial sleeping giant of the retail and e-commerce worlds," Robinson said. Soletron is competing against Karmaloop, an online streetwear retailer that is on course to generate about $130 million in revenue this year. The company, run by Greg Selkoe, has an online marketplace called Kazba, which accounts for about 10 percent of sales. "There's room for more people doing it," Selkoe said. "18 to 24 year-olds have spending power of $90 billion in the U.S. and a good 20 percent of that money goes into buying into this type of clothing and sneakers," he added. "Extrapolate globally and that's a massive market." (Reporting by Alistair Barr in San Francisco; Editing by Steve Orlofsky and Richard Chang) |
| Yahoo to weigh deals for Asian assets: sources (Reuters) Posted: 22 Dec 2011 02:37 PM PST NEW YORK/SAN FRANCISCO (Reuters) – Yahoo Inc is considering a plan to unload most of its prized Asian assets in a complex deal valued at roughly $17 billion, sources familiar with the matter said on Wednesday, winning nods of approval from Wall Street and driving its shares higher. The offer - the latest among proposals put forth in recent months to resuscitate the once high-flying Internet company - is expected to be considered by Yahoo's board on Thursday, sources said. The board was uninterested in entertaining offers for the entire company at this point, said one of the sources, who spoke on condition of anonymity. Yahoo's increasing difficulty in competing with Internet heavyweights such as Google Inc and Facebook have forced it to explore proposals to revamp its business. The former Internet powerhouse, which fired its Chief Executive Carol Bartz in September, has a market value of around $18.5 billion. The Asian split-off plan to be considered by the board follows previous proposals by private equity firms to buy a minority stake in Yahoo. Those proposals were fiercely opposed by some of Yahoo's largest shareholders, including activist hedge fund manager Dan Loeb, of Third Point LLC. "It's clear that Dan Loeb at Third Point is exerting some influence," said Adam Seessel, director of research at Martin Capital Management, which added to its position in Yahoo a few weeks ago. He "is doing all Yahoo shareholders a favor by looking over the board and making sure they do the right thing." Yahoo shares, which languished in the red along with much of the technology sector on Wednesday, reversed course and ended the session almost 6 percent higher at $15.99. It inched further upward in after-hours trading to $16.09. At a $17 billion valuation, which includes the value of the Alibaba stake that Yahoo would retain under the latest proposal, a deal would mean the Asian assets are worth $14 per Yahoo share, one of the sources said. The deal would essentially mean that Yahoo's core U.S.-based Internet business is valued at only $2 a share, according to Lawrence Haverty, a fund manager with GAMCO investors, which owns Yahoo shares. Given that Yahoo has roughly $2 a share in cash on its balance sheet, Haverty said the deal left plenty of room for upside in the core business. "This is the right thing to do. This is how you maximize shareholder value," he said, noting that he believed the tax-free structure of the plan seemed feasible. TAX-FREE DEAL Alibaba chief Jack Ma has said several times he would like to buy back Yahoo's stake in his company, one of Asia's largest Internet corporations. Investors have long said Yahoo's investment in Alibaba, along with its 35 percent slice of Yahoo Japan, are far and away the U.S. company's most prized assets. In the deal under contemplation, Yahoo would effectively transfer most of its 40 percent slice of Alibaba back to the Chinese company and all of its stake in Yahoo Japan to Softbank Corp, sources said. Alibaba and Yahoo Japan would each create separate legal entities where they would put cash and operating assets, and then trade those with Yahoo, making the deal tax-free, the sources said. At the end of the contemplated transaction Yahoo would retain a 15 percent stake in Alibaba, the sources said. The final deal size will depend on how the assets are valued, another source said. "It's definitely a step in the right direction. It shows that the board is thinking about shareholders as opposed to their own interests," Martin Capital's Seessel said. Yahoo declined to comment. The possible deals were first reported in The New York Times. Last week, sources told Reuters a consortium consisting of private equity group Silver Lake, Microsoft Corp and venture capital firm Andreessen Horowitz were reworking a bid for a minority stake in Yahoo. (Reporting by Paritosh Bansal and Peter Lauria in New York, Alexei Oreskovic in San Francisco; editing by Matthew Lewis, Andre Grenon and Richard Chang.) |
| AT&T wins regulatory approval to buy Qualcomm spectrum (Reuters) Posted: 22 Dec 2011 07:15 PM PST (Reuters) – AT&T Inc said late on Thursday that it won regulatory approval to buy wireless spectrum from U.S. chipmaker Qualcomm Inc, a move that would boost the company's 4G network. AT&T is buying 700 megahertz (MHz) airwaves for about $1.93 billion, with the aim of countering criticism over iPhone service quality and competitive threats from rivals like Verizon Wireless. "This spectrum will help AT&T continue to deliver a world-class mobile broadband experience to our customers," Bob Quinn, an AT&T senior vice president, said in a statement. The companies expect to close the transaction in the coming days, AT&T said. (Reporting by Sakthi Prasad in Bangalore; Editing by Matt Driskill) |
| Fandango adding PayPal support to mobile app, makes movie ticket purchases easier (Appolicious) Posted: 22 Dec 2011 11:00 AM PST |
| Traffic boom allows Pinterest to grab top 10 rank for social networking sites (Digital Trends) Posted: 22 Dec 2011 08:16 PM PST
Pinterest was launched in March 2010 and over these 20 months it has built up a large base of followers, even with its invitation-only hurdle. Hitwise points out that in just the past six months the social bookmarking site has had a surge of visits, topping out at 11 million at the end of last week– which is almost 40 times the visits it had in June. Online pinboard sites seem to be the new social networking wave, and though Pinterest is the lead representative, we've previously pointed out a few noteworthy virtual collector alternatives. Pinterest basically allows you to "pin" images found while surfing the web onto your virtual pinboard and organize the images into different themes, which users can then share with others. Hitwise also points out that the latest traffic skews female with 58%, and is dominated by those between the ages of 25 and 44. Hobbies and Crafts enthusiasts are also enthusiastic about the site, which tends to have a lot of home decorating, crafts, fashion and food images. Geographically, internet hoarders seem to be mostly from California and Texas, but Pinterest gets a fair number of visits from states such as Tennessee, Oklahoma, Utah and Alabama. The virtual collector site has a ways to go in order to catch up with the top three social networking sites. Facebook still commands 63% of the visits share, with YouTube at 20.9%, Twitter at 1.49% compared to Pinterest at rank nine with .41%.
This article was originally posted on Digital Trends More from Digital Trends The new face of e-commerce: Selling you what you didn’t know you wanted Causes and AT&T team up to leverage contributions for Facebook posts |
| Common gets through 'low point' to record 9th CD (AP) Posted: 22 Dec 2011 02:51 PM PST NEW YORK – Most people are excited before recording a new album, but Common didn't particularly feel that way. He says before making his ninth album, "The Dreamer, the Believer," he was at a low point musically. "I hadn't figured out what I was going to do, what label I was going to work with," he said. "I wasn't inspired." Common had major success with 2005's "Be" and "Finding Forever," which came two years later. The albums reached gold status and each earned multiple Grammy nominations, including a win for best rap performance by a duo or group for "Southside" with Kanye West. Both albums were mainly produced by West. But 2008's "Universal Mind Control," produced by the Neptunes, was a commercial disappointment, only selling 245,000 units, according to Nielsen SoundScan; the CD, however, did earn a Grammy nomination for best rap album. But Common parted ways with Universal Music, where he's released five of his nine albums. Now, on Warner Bros. Records, the rapper said he's got his mojo back, mainly thanks to producer and longtime friend No I.D. "He was willing to be like, `Yo, let's go! Let's get it. Let's go get on this hip-hop,'" Common recalled. "So I think that meant a lot to me and from there we just continued to grow." The album, released Tuesday, features Nas, Maya Angelou, John Legend and Makeba Riddick. The 39-year-old says the disc embarks on "real, traditional, new hip-hop." _____ Online: _____ Mesfin Fekadu covers entertainment for The Associated Press. Follow him on Twitter at http://twitter.com/musicmesfin |
| Samsung Galaxy Tab 10.1N passes German legal muster despite Apple’s objections (Appolicious) Posted: 22 Dec 2011 11:47 AM PST |
| FCC approves AT&T purchase of Qualcomm spectrum (AP) Posted: 22 Dec 2011 05:28 PM PST SAN FRANCISCO – The Federal Communications Commission approved wireless carrier AT&T Inc.'s $1.93 billion purchase of unused wireless spectrum from Qualcomm Inc. AT&T Inc. said a year ago that it planned to buy the spectrum to add capacity to its fourth-generation, or "4G" network, which it has been rolling out across the country. The network's higher speeds make it faster to load video and websites on phones. Mobile technology company Qualcomm Inc. had used the spectrum for its FLO TV mobile television service, which it shut down because of weak customer interest. On Thursday, the FCC said the purchase brings up some competitive concerns but they could be eased by conditions the commission outlined in its approval, including offering data roaming to competitors. AT&T spokesman Fletcher Cook could not immediately comment on the approval. The approval comes just days after Dallas-based AT&T, which runs the second-largest wireless network in the U.S., gave up on its $39 billion deal for smaller carrier T-Mobile USA following government concerns that the deal would raise prices and reduce competition. The spectrum deal will help AT&T better compete with cellphone carriers Verizon Wireless and Sprint Nextel Corp. — the largest and third-largest wireless service providers in the nation, respectively. Like AT&T, Verizon is already deploying a network that uses LTE, or Long-Term Evolution, technology, and Sprint intends to use the technology, too. And recently Verizon has been building out its share of airwaves available for its 4G network by making deals with several cable companies to buy airwave licenses. This month, Cox Communications, Comcast, Time Warner Cable and Bright House Networks all agreed to sell some of their spectrum to Verizon and in exchange Verizon will resell their cable services in its stores. Qualcomm stands to make a handsome profit on the spectrum. It paid $38 million for one slice of nationwide spectrum — the former UHF channel 55 — in 2002, then another $558 million in 2008 for UHF channel 56 over New York, Los Angeles, Boston, Philadelphia, and San Francisco. |
| Rhapsody passes million US subscriber milestone (AP) Posted: 22 Dec 2011 10:57 AM PST LOS ANGELES – Digital music service Rhapsody says it has passed a million paying subscribers in the U.S. That keeps it in the lead as the most popular subscription service in the country, the company said Thursday. The Seattle-based company turned 10 years old this month. Rhapsody allows subscribers to listen to as much music as they want for a monthly fee — $10 on all devices or $5 on computers only. Rhapsody also offers a free trial period that includes use on mobile devices. Rhapsody's subscriber count had hovered around 800,000 for years, but several recent developments re-ignited the business. In August, its service began being bundled into a cellphone plan for Android phone users on carrier MetroPCS. The plan includes unlimited data, talk, text and music for $60 a month. In October, it gained other subscribers through its purchase of Napster from Best Buy. Still, it faces tough competition from new entrant Spotify, the Swedish music service that launched in the U.S. in July. Spotify says it has 2.5 million paying subscribers worldwide. Rhapsody President Jon Irwin said the company is alone "at this scale with what we believe is a sustainable business model." He said Spotify's rapid growth comes at a steep price because its extended free U.S. trial period on computers brings in some advertising revenue but costs a lot in music royalty payments. Rhapsody's trial is limited to about two weeks. "The weight of the costs of the free music they're giving to people to get them to convert is clearly dominating their income statement," Irwin said. "I don't have that expense line item that they have." Spotify declined comment. Irwin said the recent integration of Facebook with various music services has resulted in many new users trying the service for free but hasn't been all that effective in converting them into paying customers. He said Rhapsody is focused on growing use on mobile devices. Mobile listening is already the most popular, accounting for 40 percent of listening, compared with 32 percent on computers. Rhapsody also plans to expand internationally, initially by completing its acquisition of Napster customers in Germany and the U.K., he said. |
| Steve Jobs to get Grammy for revolutionizing music (Reuters) Posted: 22 Dec 2011 04:18 PM PST (Reuters) – First it was a bronze statue in Hungary. Now it's a Grammy. The accolades for Steve Jobs, who died Oct 5, are still pouring in. The Recording Academy said on Wednesday it is giving the co-founder of Apple a special "Trustees Award" Grammy. The Grammys, of course, are the top honors in the U.S. music industry. "As former CEO and co-founder of Apple, Steve Jobs helped create products and technology that transformed the way we consume music, TV, movies, and books," the Recording Academy said in a statement. "A creative visionary, Jobs' innovations such as the iPod and its counterpart, the online iTunes store, revolutionized the industry and how music was distributed and purchased," the statement added. A formal acknowledgment of his award will be made during annual Grammy Awards ceremony on February 12 in Los Angeles. In 2002, Apple was a recipient of a technical Grammy award for contributions of outstanding technical significance to the recording field. (Reporting by Poornima Gupta; Editing by Jill Serjeant and Bob Tourtellotte) |
| Cantor Entertainment files for IPO of up to $100 million (Reuters) Posted: 22 Dec 2011 03:17 PM PST (Reuters) – Gaming software maker Cantor Entertainment Technology Inc filed with U.S. regulators on Thursday to raise up to $100 million in an initial public offering of its Class A common stock. The Nevada-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Cantor Fitzgerald & Co would underwrite the IPO. The company said it would use the money from the offering to repay debt and plans to list its common stock on Nasdaq under the symbol "CETI." The filing did not reveal how many shares the company planned to sell or their expected price. The company, a unit of financial services firm Cantor Fitzgerald, owns the Hollywood Stock Exchange, an online game, where players use simulated money to buy and sell shares of actors, directors and other film-related options. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting by Satyanarayan Iyer in Bangalore; Editing by Viraj Nair) |
| How the major stock indexes fared on Wednesday (AP) Posted: 21 Dec 2011 02:33 PM PST Technology stocks fell Wednesday, dragged down by a weak earnings report from business software maker Oracle Corp. Broad market indexes were flat. The Dow Jones industrial average eked out a gain of 4 points after having been down 104 points at midday. Technology stocks were the issue, with IBM the biggest decliner of the Dow's 30 stocks. IBM fell 3.1 percent, and Oracle fell 11.7 percent. The Dow gained 4.16 points, or 0.03 percent, to close at 12,107.74. The S&P 500 index gained 2.42 points, or 0.19 percent, to 1,243.72. The Nasdaq composite index fell 25.76, or 1 percent, to 2,577.97. For the week: The Dow is up 241.35, or 2 percent. The S&P 500 index is up 24.06, or 2 percent. The Nasdaq is up 22.64, or 0.9 percent. For the year to date: The Dow is up 530.23 points, or 4.5 percent. The S&P is down 13.92, or 1.1 percent. The Nasdaq is down 74.90, or 2.8 percent. |
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