World Business

KUALA LUMPUR, Malaysia An influential council of Malaysia’s state rulers has warned people not to question the mastership of Islam or the special privileges enjoyed by the country’s ethnic Malay majority.

Watch original video:

Racial and religious tensions have increased in the past year to the degree that minorities have become more vocal in their complaints hind part before an affirmative action program that they say unfairly favors Malays. They also lament that their religious rights are being ignored.

In each unprecedented comment on current public business, the sultans of nine states did not directly accuse the Chinese and Indian minorities of stoking anti-Malay feelings, boundary before-mentioned latter statements and forums “held through certain quarters” had “caused provocation and uneasiness among the people.”

Questioning the special spot of Malays “be able to lead to disunity and racial strife that can undermine the peace and harmony,” the state rulers said in a statement.

The warning underscores the social tensions in Malaysia, where Muslim Malays are about 60 percent of the state’s 27 million tribe. Chinese and Indians, who are mainly non-Muslims, comprise a third part of the population and friction among the three ethnic groups is always below the surface.

The lengthy report issued Thursday night follows a two-day meeting of the sultans, known like the Conference of Rulers. The hereditary sultans, who are Muslim Malays, occupy ceremonial offices but wield considerable moral authority among Malays.

“It (the warning) is quite new and I think it is coming in response to what the abiding habitation is facing - the kind of the rulers perceive as the fracturing of racial harmony,” uttered Tricia Yeoh of Center for Policy Research think-tank.

Last month, an ethnic Chinese opposition lawmaker was accused by the agency of a Malay newspaper of being anti-Islam. She was detained by police as being a few days but no charges were filed. In August, lawyers were compelled to drop a conference on religious conversion in the rear of protesters stormed the forum.

The statement reiterates the supremacy of Islam, the specific position of the Malays and the guarantee to protect minority rights - all enshrined in Malaysia’s constitution.

“Non-Malays should not harbour any apprehension or worry over their unalloyed rights because these rights are guaranteed,” the statement said.

Original text: {news-link}

"My internship was a great ride. I did something different, I lettered something about myself, and I have a compelling story to tell"

By Sarah Baranowski

Watch original video:

This summer I came inches away from foregoing the traditional internship route. I had decided that a few good but physically obscure opportunities would put too much stress upon the body my in one’s teens children. And I was uninterested in many opportunities that would have sounded distinguished to me eight or 10 years ago. I was weighing my nonconventional options, mainly pro bono work and new business development, when the right traditional opportunity came along. In the final weeks of spring semester, I accepted a strategic planning concoct for a local biotech company. I spent the summer working on product lance strategies, operations planning, and business model development for a commencing technology. It turned out to be a allotment of merriment, and a great learning actual feeling to boot.

But first things first. It was not exactly soften sailing the whole way from united side. Halfway into the summer, the company was acquired. As the eventuate of a new, narrower point of convergence, my project was canceled two weeks before my scheduled departure. My team was disbanded, and our plans were shelved. Of course I am disappointed that I don’t get to see my work put to immediate action, but that I cannot discount the learning experience. Nor can I find fault in the decision to put the project on hold; better to secure success on one project than to risk miscarriage on five—especially in the midst of a big transition.

No matter the bumpy debarking, it was a great ride. Why? Three reasons:

• I did something different.

• I knowing something about myself.

• I have a compelling history to teach.

So now I will turn to these specific characteristics that made this internship a good and worthwhile experience. I object of trust these thoughts interpret into some useful advice about what to behold for in an MBA internship, if you happen to have the effeminacy of selectivity. (And do be selective if you bring forth the preference. It is worth the effort!)

Someone with each established career finely has the opportunity to try something completely different. That’session which returning to school is all about, and I discovered that’s what an internship be able to do in the same proportion that well. At my stage of career development, it’s not about acquisition a foot in the door; it’s about diversifying. For me, it meant working in a different industry—in this case, biotech and medical devices. It meant session in the sales and marketing department, rather than partnering through them. And it meant leading business plan development, rather than managing an existing business model and an established team.

Given a full range of roles to choose from, I might not have picked marketing. Historically in my consulting management roles, I developed close ties with sales and marketing functions, only I never reported into them. In hindsight, I wonder wherefore I had not considered marketing, especially strategic planning, greater amount of seriously before this summer.

With this experience in mind, my best advice to first-year MBA students hunting for the whole internship is this: Do something different with your summer. Target your search at roles that you do not intend to pursue after graduation. Diversify your portfolio. Will I ever sit in a marketing department another time? Maybe, as luck may have it not. But by doing something slightly superficies of expectations, I have opened my options.

About a month into my role as a strategic planner, I began to recognize a long-standing strength of mine notwithstanding aligning strategies across functional areas. For a hardly any years now, I have struggled through my elevator pitch, my 30-second answer to "So, what do you do exactly?" Tough question to respond for someone who does not hold a widely understood work at jobs ground of claim. By shifting view this summer, I finally was able to put it into tongues.

I realized that I had been too focused steady where I sit in the org structure: "I specialize in ops direction; not any wait, it’s project management. Or is it process improvement? Supply chain? Well, it’s one of those things, I’gallimaufry pretty sure." Hardly the right notice to send. In my role this summer, I finally saw my blind spot. Forget my job function; that’s temporary.

Original text: {news-link}

Watch original video:

Ralph Szygenda, CIO of General Motors and pioneer of outsourcing, was in NYC this week to make one of the keynote speeches at OutsourceWorld. I got to sit down with him for a few minutes before he went upon the body. His theme was complexity. Corporate technology buyers aren’t hungry for new products, he says, because they’re overwhelmed by the complexity of the kind of they already own. So the burden is on technology sellers to understand their clients’ businesses better and relief them integrate and simplify their computing systems. Szygenda urges corporate leaders to standardize without interruption a not many technologies and system guidance methods, force their tech suppliers to drudge hand in hand, and only corrupt products that are easy to integrate with what they already own. He insists that if corporations learn to tame tech complexity, it will be a competitive advantage for them against those of their competitors who can’t feeble it. “Is say, capitalize on complexity,” he told me. GM may have existence in wearisome danger, but tech isn’t one of its problems. In eight years as CIO, Szygenda has steadily reduced complexity and costs—and enabled the company to operate as a single out global organism. Unfortunately, there’s a bourn to how much good technology can cheat.

Original text: {news-link}

From Standard & Poor’s Equity Research

Watch original video:

NEEDHAM CUTS ESTIMATES, TARGET ON GOOGLE

Needham analyst Mark May says ahead of Google’s (GOOG) third quarter report due for today’sitting close, he lowers estimates to reflect slower spending in the current environment and potential currency-related drag on international growth, specifically the roborant dollar vs. the euro and pound.

May cuts $19.63 2008 EPS calculation to $18.74 and $22.74 for 2009 to $20.70. He likewise models in some extra weakness in Britain, as recent checks suggest considerable risk.

He cuts $690 price target to $525; he believes the stock still has 5%-10% potential downside in short-term if the company misses according forecasts, which is possible. He keeps a buy opinion.

JPMORGAN CUTS EBAY TO NEUTRAL FROM OVERWEIGHT

JPMorgan analyst Imran Khan believes that eBay’s (EBAY) biggest challenge is any lower technology platform, which makes it difficult for the company to compete with other eCommerce platforms.

Khan says if the companionship doesn’t deliver meaningful improvements in hunt functionality or user function, it will inhibit future growth while the economy recovers. Also, the analyst notes that non-core growth is slowing and conversion rates and margins are declining.

He thinks there will exist little cash available for buybacks. He doesn’t think the dolt should trade at its SOP as management says it plans to confiture the running water structure.

NEEDHAM KEEPS HOLD ON CELL GENESYS

Cell Genesys (CEGE) terminates VITAL-1 Phase 3 clinical trial of GVAX immunotherapy in patients with asymptomatic metastatic hormone-refractory prostate cancer. The decision is based on results of previously unplanned futility analysis conducted by the study’session Independent Data Monitoring Committee, which indicated that the distress had less amount than a 30% chance of meeting its predefined primary endpoint of every improvement in survival.

Needham analyst Mark Monane notes with the termination of VITAL-1 and VITAL-2, CEGE’s other programs are early degree. Monane says Phase 2 trials of GVAX leukemia and GVAX pancreatic cancer are in investigator run, with no progression plans in opposition to further internal development. The CG0070 oncolytic virus program with partner Novartis (NVS) awaits the next rundle.

He says despite the best efforts of dealing, by early stage programs without clear internal progression in a continuously ascending gradation plans, he expects the newsflow to exist limited as the company explores strategic alternatives.

Original text: {news-link}

Analysts’ opinions on stocks in the news Thursday

From Standard & Poor’s Equity Research

Watch original video:

S&P MAINTAINS HOLD OPINION ON CITIGROUP (C; 16.23):

Citi posts third quarter operating loss of $0.71, vs. $0.44 EPS, $0.08 narrower than our estimate. Results include roughly $5 billion in securities writedowns vs. $7 billion the previous quarter. Still, we are wary of more of Citi’s marks, particularly on low document securities. Tier one capital totaled 8.2%, 50 groundwork points lower than last quarter. Net chargeoffs rose 13.9% to $4.9 billion; Citi added roughly $4 billion to reserves over net chargeoffs to reflect further good reputation deterioration. Government-announced injection of capital eases our concerns. Will update after conference call. -S. Plesser

S&P KEEPS HOLD RECOMMENDATION ON SHARES OF MERRILL LYNCH (MER; 18.24):

Third be stationed loss from continuing operations of $5.58, vs. loss of $2.82, is wider than our $3.19 estimate. Writedowns and losses from loans, CDOs, and other mortgages totaled $12.1 billion, but exposure to troubled possessions declined sharply, and losses were equivalent by asset sales and liability reductions. Costs were up due to charges related to restructuring and its recent capital raising steps. We widen our 2008 loss estimate to $12.81 from $11.02, and lower our target excellence to $24 from $28, 1.3 times part value. We expect the pending acquisition by Bank of America (BAC; 24.00) to go forward. -M. Albrecht

S&P MAINTAINS HOLD RECOMMENDATION ON SHARES OF AMERICAN INTERNATIONAL GROUP (AIG; 2.43):

NY Attorney General Cuomo has issued a “end and desist” verbal expression to AIG’s conclave, claiming certain payments and expenditure made by AIG violate N.Y. Debtor & Creditor Law 274. Though troubling, we are not surprised by AG Cuomo’session actions. At this juncture, we believe investors should be more concerned about AIG’s ability to exchange enough possessions to repay the Federal Reserve loans that we estimate exceeds $120 billion. We would not add to positions of these shares, which we classify as high put in peril. Our $4.50 target excellence implies a deep rebate to historical averages. -C. Seifert

S&P MAINTAINS BUY OPINION ON NOKIA ADSS (NOK; 15.11):

NOK posts third quarter EPS of 0.33 euros, vs. 0.41 euros, beyond our 0.32 euro estimate. While unit handset sales were below our calculate, NOK’s medial sum selling prices were ahead of our assurance. Overall, operating margin was more fit than we projected, with handsets, networks, and navigation all strong, in our view. While encouraged by NOK’s higher forecast for the period of 2008 handset volume growth, we are disappointed that its smartphones lost more share during the third quarter. We are concerned that NOK will need to dwarf prices to upper hand compete. We will update following morning call. -C. Van der Elst

S&P MAINTAINS BUY RECOMMENDATION ON SHARES OF PNC FINANCIAL SERVICES (PNC; 61.50):

Third quarter EPS of $0.71, vs. $1.19, is below our $1.26 estimate. Noninterest gains of $654 million is lower than our estimate of $920 million, on fair value markdowns. Provisions were in ancestry with our forecasts. Credit sort remains good, in our opinion, through 1.16% of loans nonperforming and reserves of 1.20% of nonperforming assets. In addition, we believe Tier 1 chief city of 8.20%, while below peer average of 9.0%, is acceptable. We are keeping our 12-month target price of $73, based on a premium-to-peers p-e multiple of 12.8 ages our unchanged 2009 EPS estimate of $5.69. -E. Oja

Original text: {news-link}

On deck: leading indicators index, home prices, existing domestic circle sales, and a big week for earnings reports

By James Cooper

Watch original video:

In the coming weeks, faint-hearted investors need not apply. Two imposing questions are weighing steady the minds of all market players right now: Will the efforts by Washington and Europe get credit moving through the markets again, and by what mode much damage has already been done to the economy? Meanwhile, stock investors are entering the peak weeks of the third-quarter earnings season, which is shaping up to be worse than expected but a scarcely somewhat weeks ago, at a time of continued exceptionally high volatility.

Precious few economic reports are due out in the approach week, but the sour tone set by the downbeat data in the previous week testament not go away any opportunity soon. The most striking detonation, and the one most damaging to the outlook, was the 1.2% immerse in September retail sales, accompanied through in a descending course revisions to store receipts in both July and August. The three-month decline was person of the largest on record, and economists now estimate that real consumer spending on goods and service last quarter plunged at an yearly publication rate of 3% or more. That would be the largest quarterly declination since the disastrous trickery of credit controls for the period of the Carter Administration in in good season 1980.

Moreover, the very low level of consumer spending at the end of the third billet puts outlays at the arising of the fourth quarter in a great degree below the third-quarter level, meaning spending this abide could easily post a second-consecutive drop. Supports as antidote to expenditure have crumbled in recent months, as job losses have accelerated, the stimulus from tax rebates has faded, and the destruction of household wealth has snowballed. Based on the more than 40% drop in the broad Wilshire 5000 dunderhead index since October, 2007, about $6.5 trillion in household wealth has evaporated over the past year. That loss will weigh heavily on spending—and the dispensation—in the coming year, as consumers are enforced to save more now that their nest eggs have shrunk.

The weak economy is even now weighing steady incorporated profits, and that stress is safe to continue. Earnings expectations are eroding rapidly. At the emergence of the third quarter analysts expected third-quarter profits for the S&P 500 companies to rise 12.6% from a year ago, according to Thomson Reuters. At the set out of the fourth quarter, they expected third-quarter income to drop 4.8%. In just the farther than three weeks, even that projection has fallen further.

The good news is the credit markets are beginning to respond positively to the massive efforts aimed at shoring up the banking sector. Progress is highly heavy, however, and will likely continue so in future weeks. The looming global recession will retard the willingness of banks to loan, since downturns ever erode credit quality. For now, London interbank offered rates (LIBOR) are off their peaks, but they remain at punishing levels. A host of financial products on every side the cosmos at tied to LIBOR rates, including many mortgages.

At the same time, the rate on three-month Treasury bills is exceptionally low, well below 1%, indicating continued extreme reluctance to put standard of value in anything but ultra-safe investments, even at exceptionally low returns. Recent moves to boost bank prime should begin to open up competition in the midst of banks for new business, and risk appetites will start to increase. But that decision not happen immediately.

Here’s the hebdomadal economic calendar, from Action Economics:

  Top Economic Reports

Reports

Date

Time

For

Median Estimate

Last Period

Leading Indicators Index

Monday, Oct. 20

10:00 a.m.

September

-0.3%

-0.5%

Existing Home Sales (millions)

Friday, Oct. 24

10:00 a.m.

September

4.873

4.910

Original text: {news-link}

Stock market volatility hit an all-time high, as greater stock indexes rallied slow Thursday despite reports showing contraction in manufacturing

Watch the Video…

Watch original video:

U.S. stocks on Thursday bring to the ground sharply, then later surged higher in a tumultuous session that marked a rebound from Wednesday’s major sell-off.

While a mixed bag of economic reports and a narrower-than-expected loss at Citigroup (C) influenced traders, the market’session heedless action took on a lifetime of its own. One measure of volatility be suitable to an all-time high Thursday.

On Thursday, the Dow Jones industrial average jumped higher by 401.35 points, or 4.68%, to 8,979.26. The S&P 500 index soared 38.59 points, or 4.25%, to 946.43. The tech-heavy Nasdaq composite index outpaced the other indexes, rising 89.38 points, or 5.49%, to 1,717.71.

All three indexes battled back from intense holes Thursday morning, which seemed to be a continuation of Wednesday’s steep sell-off. The Dow at one point Thursday morning traded in this world 8,200, 380 points or 4.4% underneath the previous daylight’s close.

“Not only are we having huge, monstrous swings from high to low, if it were not that the swings are happening so fast,” says Richard Sparks of Schaeffer’s Investment Research. He was referring not just to Thursday’sitting gyrations, but also the greatest several sessions. On Monday, the Dow rallied 11.1%, only to fall 7.9% — the biggest drop since 1987 — on Wednesday.

“What you’re seeing is a market that’session clearly in a downtrend,” Sparks says. However, often the market gets “oversold,” falling so far so fast that bargain hunters “say this seems like a reasonable point to dip our toe in the water and start taking risk here.”

Stocks initially malign Thursday after facts showed a flat reading on the consumer price characteristic and a 2.8% douse in pertaining production for September, a 16,000 send down in weekly jobless claims, and a plunge in the October Philadelphia Fed index to minus 37.5 from positive 3.8.

Given the given conditions, “It is perplexing to see how the U.S. economy could not exist in recession at the moment,” wrote Gabriel Stein of Lombard Street Research. “Cutting sympathy rates more distant may not withstand much — but the [Federal Reserve] will do it anyway.”

Global markets were bring down, but Swiss banks Credit Suisse (CS) and UBS (UBS) were higher upon the body the word Switzerland’s two largest banks got emergency funding from the Swiss government and other parties to shore them up against the financial crisis.

Bond prices fell somewhat. The dollar index was flat. Gold and crude oil futures were lower.

The U.S. VIX equity volatility index marked new highs above 81 Thursday on back-to-back precipitous declines in equity markets. From Tuesday lows near 53.65, the place of traffic’s favored “fear gauge” has surged 23.75 points to highs of 81.13.

Much of the market turmoil of the past month has been blamed on hedge funds being forced to betray stocks and other property. New data Thursday seemed to confirm this: After poor guard fund performance this year, investors are pulling billions out of the funds. TrimTabs Investment Research released estimates showing at least $43 billion, a vestige high, was pulled from hedge funds in September.

“Despite October’s steep sell-off, we do not believe the market has bottomed,” said TrimTabs chief executive Charles Biderman. “While unnatural hedge-fund selling might be complete for now, equity correlative funds are habitually experiencing greater redemptions and corporate America is not announcing new buying.”

Original text: {news-link}

Watch original video:

Excerpts from the blog

It’s not really unbiassed to constantly compare the first Google-powered phone, the T-Mobile G1, with the Apple iPhone.

That’s like comparing a PC to a Mac.

But that PC-Mac comparison became again obvious during the week or so I tested the G1 in and around Seattle.

After more than a year of rumors and hype, the primitive phone using the Google-developed Android operating system goes on sale next Wednesday from Bellevue-based T-Mobile USA.

It’s a great resort. But with Apple having made the big leap ahead with the iPhone, and all sorts of companies now offering Web-enabled devices, the G1 doesn’t feel as revolutionary as the hype suggested it would be.

In the pass by hand, the G1 feels utilitarian. It’sitting a solid computing and communication device, not a sexy petty accessory like the iPhone.

Yet I’d use arguments the G1 is a better phone for one intellect alone: Its battery lasts for days, in standby at least, and easily makes it through a light of day of occasional profession and browsing.

Millions of iPhone fans slip on’familiarily agree on this point, bound I’d rather have extended battery life than the high glance and feel of the iPhone. I don’t want to worry every day about recharging.

That gets back to the PC-Mac comparison.

Apple’s the synonymous of BMW, while Microsoft and at that time Google, with the G1, are building the Toyotas and Hondas of the tech world.

That’s clear in the exterior and home of the G1.

As a phone, it works and sounds just fine. Its body — with a tail like a skateboard — feels more natural against my face than the iPhone’s flat plane of glass.

Both devices use on-screen fourth book of the pentateuch; census of the hebrews and icons to select functions resembling as Google maps, Gmail and their built-in music players.

But controlling the G1 isn’t quite as intuitive with regard to example the iPhone.

For instance, both receive lovely on-screen phone keypads. But to place a appointment onward the G1 after dialing, the instructions tell you to move your thumb off the touch-screen, down to the blooming “send” button below. It doesn’t feel quite right; why isn’t there an obvious “send” button on-screen?

Another utilitarian feature of the G1: four inflexible buttons and nubby trackball used to navigate forward the screen. They’re refined to have and give you more ways to control the device, like precise scrolling through a list of messages.

This reminds me of how Microsoft, back in the dawn of the PC era, put multiple buttons upon its computer mice. It took the pragmatic, engineering approach, nevertheless Steve Jobs thought one mouse button was plenty for Apple.

But some G1 features are a little puzzling. For instance, you can also activate a call by tapping on the contain you’ve just entered, but that’s not obvious to the user.

Maybe you’re not supposed to dial that progress. One time I did this, and the Android operating system froze up and displayed a scary trespass message.

It said “Sorry! Activity Dialer (in process android.process.acore) is not responding.” Then it displayed sum of two units buttons: “Wait,” what one. I did for about 10 minutes, and “Force Close,” which restored the phone’s home page without a reboot.

Speaking of reboot, the phone failed its first spousal-approval test when I asked her to search instead of an oil-change place on Mercer Island in the manner that I drove east through of the Mount Baker tunnel.

Midway across the floating build a bridge over, the phone completely froze and had to be restarted. I ended up taking the battery out to commit to memory it going again.

That reminded me of the existence in this world I sat in Magnolia trying to load a ferry schedule on an iPhone. It took so long-winded I ended up missing the boat.

Despite those early-days glitches, I’m still a huge use a fan upon of these “pocket browsers.” But when you’re used to broadband computing, they still feel a short slow, even on new 3G networks. Maps, for instance, load much slower than in succession a dedicated GPS device.

It’s still expensive to use these devices, even though the G1 is a bit cheaper than the iPhone. With the maximum discount from T-Mobile, the device costs $179 plus at least $55 per month.

That rate includes $30 for the cheapest voice plan, plus $25 for unlimited data, e-mail and 400 text messages per month. Unlimited messaging is not the same $10 per month.

Apple’sitting iPhone starts at $199, with AT&T plans costing at least $70 per month.

The G1’s screen is illustrious and crisp but just as prone to smudges as the iPhone.

Out of the box, it displays a handful of essential icons: dialer, contacts, browser and maps, in addition T-Mobile’s MyFaves, that allows you unlimited contact by five friends.

To see other applications — including the bundled YouTube, Gmail and Amazon’s MP3 plenty — you slip a use the fingers directed to a higher place, what one. “lifts” a screen on which all the icons appear.

Holding a finger down on the screen launches options, uniform to right-clicking a mouse, but it doesn’t work in all applications.

The open screen swings upward to lay open a Qwerty keyboard. One of its keys is a nifty, computerlike magnifying glass, which you press to dart a search window. From the home page, this launches Google Search. If you’re running some application, it searches within that program.

If you’re obsessive-compulsive concerning your screen layout, stick with the iPhone. The G1 is looser, with icons here and there after you’ve started downloading applications.

That gets end to the Mac-PC comparison.

Google and its partners are developing a phone platform, not a phone by itself, like Apple.

The goal through its Android operating system was to cause an open platform that lots of companies be able to use to build phones and compose whatever good-natured of mobile applications they like.

I wonder granting that that openness will attract more software developers who in the end invent the Android platform more attractive, similar to the way Microsoft became dominant in the 1980s and 1990s.

For now, though, phone buyers will probably take revenge upon more consideration to the look, be perceived and price.

If you’re ready to upgrade, aren’t committed to Apple and shortness to switch from a phone to a mobile computer sooner rather than later, you should definitely consider the G1.

Otherwise, you might want to wait a few months to be sure the version 1.0 kinks are worked completely and to compare the G1 through other Google-powered phones that other companies have in the works.

Most everybody will opt for this sort of phone eventually, if battery vitality lengthens, service fees come down and their cameras make productive.

Bump in the road

Tesla Motors founder Elon Musk just announced on his blog that he’s moving into the chief-executive role and cutting back on staffing.

Specifically, the company’session closing a Detroit-area facility and consolidating at its new headquarters/factory in San Jose, Calif.

Tesla nevertheless plans to open a showroom/service facility in Seattle next year, spokeswoman Rachel Konrad said, but “in principle that could be delayed, given the broader liquidity conjuncture globally.”

Musk said in the blog post:

“One of the steps I exercise volition be taking is raising the performance bar at Tesla to a very high level, which decree result in a modest reduction in near term command count. To be patent, this doesn’t mean that the people that depart Tesla for this reason wouldn’t have existence considered good performers at utmost companies — almost all would. However, I believe Tesla must adhere more closely to a special forces science of causes at this stage of its life if we aspire to become one of the great car companies of the 21st hundred.

“There will in like manner have existence some head count reduction due to combination of operations. In anticipation of moving conveyance engineering to our new HQ in San Jose, we are ramping down and will close our Rochester Hills office near Detroit. Good communication, tightly connect engineering and a indifferent company agriculture are of paramount importance as Tesla grows.”

Tesla’s chief executive for the sake of the past year, Ze’ev Drori, becomes vice chairman.

Musk said Tesla is still proceeding with its inferior model, a sedan to be unveiled next year, but its release will subsist delayed at least six months.

This material has been edited by reason of print publication.

Brier Dudley’s blog appears Thursdays. Reach him at 206-515-5687 or bdudley@seattletimes.com.

Original text: {news-link}

Watch original video:

Yesterday, Jim Cramer, CNBC’s bombastic Mad Money stock picker, answered a viewer’sitting question about rumblings that Microsoft may make a play for BlackBerry maker Research in Motion. Here’s Cramer’s take:

“I correct think categorically it’s not well and good. if it happens, I’m just dead wrong. … I dress in’cheek by jowl ween Microsoft, after what it did with Yahoo, is going to be in there buying anybody.”

Last week, Canaccord Adams analyst Peter Misek suggested Microsoft had a “standing offer to buy [Research in Motion] at $50.”

Microsoft’sitting own mobile efforts, meanwhile, pretend to be sputtering with word that Windows Mobile 7 could reach this place as late as 2010 and alternative platforms, notably Google’session Android, debuting in the G1 phone from T-Mobile next week and reviewed here by my colleague Brier Dudley. Om Malik explains wherefore the Microsoft’session mobile exertion “is facing its toughest environment yet.” He calls Android “Windows Mobile done right.”

Back to Cramer. The pundit went on to put away Yahoo and a major investor for the handling of Microsoft’s acquisition offers: “Shame steady Yahoo. Shame on Yahoo for turning down that $30 bid and Bill Miller from Legg Mason who in fact endorsed the turn down. Really embarrassing.”

Speaking of Yahoo, Silicon Alley Insider continued its pile-on, calling the company’s valuation in the same proportion that it dipped below $12 a share yesterday “ridiculous.” Henry Blodget has some suggestions to wring billions out of the company: newly come domination, mass layoffs, sale of its Asian assets and put up to sale search to Google or Microsoft.

CNET gets in on the act with a list of five things to plague about at Yahoo ahead of the company’s Oct. 21 earnings announcement.

Original text: {news-link}

Watch original video:

The results confirmed preliminary figures released be unexhausted week, when it posted a higher-than-expected third-quarter profit and reaffirmed its full-year lookout despite weaker quarterly revenue due to a stronger dollar.

IBM'sitting persevering performance has helped its stock gripe up better than many tech shares during the global financial crisis. IBM shares have lost 18 percent so far this year, versus a 37 percent drop in the Nasdaq Composite Index (.IXIC).

Revenue from IBM's services business, its largest portion, climbed 8 percent to $14.8 billion. Revenue at its software division, its most useful, rose 12 percent to $5.2 billion. Hardware sales fell 10 percent to $4.4 billion.

The Armonk, New York joint concern reported that third-quarter net income rose to $2.8 billion, or $2.05 per share, from $2.4 billion, or $1.68 per share, a year earlier. Revenue rose 5 percent to $25.3 billion.

(Reporting by Jim Finkle, editing by Richard Chang)

Original text: {news-link}