Sunday, May 20, 2012

DreamVision Re-Defines The Global Family Entertainment Market

(NEW YORK) May 20, 2012 National Business Breaking News

In the global sphere of the highly lucrative family entertainment marketplace, it appears that a shift in power is imminent. Tauting one of the most powerful teams within the family entertainment realm, The DreamVision Company has captured the attention of  industry experts as the studio announced its decision to locate their global motion picture, television and theatrical studio center in Fort Worth, Texas including the DreamVision Animation production and development studios. With the further news confirmed this week by DreamVision CEO/Chairman Rick Silanskas regarding the development of a ground breaking theme park resort destination planned for Texas and also current development in several international locations, DreamVision is now being considered a serious force that is destined to completely re-define the present family entertainment landscape. 

The "Dream Team" as it is now being called, is being led by the former Disney Executive Vice-President of Entertainment Worldwide and founder and first President of Disney Theatrical (Beauty and The Beast, etc), Mr. Ron Logan.

Mr. Logan, who was inducted as a Disney Legend in 2007, brings with him his entire team of classic Disney production and management talent in conjunction with the internationally award winning DreamVision proprietary emotionally driven CGI animation technical methodology.

From historical perspectives, DreamVision has appeared to fill a void that the global consumer market has been seeking for sometime. The interesting and probably most powerful element is the fact that DV encompasses the entire corporate structure to enhance the family market inclusive of award winning production, carefully structured distribution and syndication, global marketing and public relations and a team that cannot be duplicated. Further news is expected within the next several weeks according to corporate representatives.

copyright 2012 Business Entertainment Nat News
   

Apple Samsung Net News

Apple, Samsung CEOs set for U.S. court talks

SAN FRANCISCO (Reuters) - The chief executives of Apple Inc and Samsung Electronics Co Ltd are used to running the show at their global tech empires, but they will be in for a different experience when they arrive at a San Francisco federal courthouse on Monday.
Apple's Tim Cook and Samsung's Choi Gee-sung, whose companies are embroiled in bitter patent litigation, have been instructed by a federal judge to appear for court-supervised mediation. A joint court filing in April said that "as directed by the Court, Apple and Samsung are both willing to participate" in the discussions. In other words, it was not exactly their idea.
Courts across the United States are increasingly demanding that parties in civil disputes take a stab at mediation, and the federal courts in northern California have been pioneers in pushing litigants toward various forms of alternative dispute resolution. Mediation has also become routine in big intellectual property cases. Last week, for example, a federal judge in Delaware ordered mediation in a patent dispute between Apple and Taiwan phone maker HTC Corp.
In a some cases, though, courts have taken the effort to a new level: hauling in the CEOs of big companies to try to work things out directly. It is the corporate equivalent of therapy, only in this case, the participants each get to bring along a team of lawyers.
Since lawyers can often get emotional in the heat of litigation and may grow to dislike each other, bringing a decision-maker from above the fray makes sense, said Wayne Brazil, a former U.S. magistrate who founded the federal court's alternative dispute resolution program in northern California.
Apple and Samsung are fierce rivals as the leading makers of high-end smartphones and the outcome of their legal battle could give the winner crucial advantages in the marketplace. Apple has accused Samsung of "slavishly" copying the iPhone and iPad through products that run on Google's Android operating system, and Samsung has countersued on claims that Apple infringed its patents.
The U.S. case, the most closely watched in the global patent war between the two companies, is set for trial at the end of July in San Jose, California. Each company denies the other's allegations of patent infringement.
On Sunday, a top Samsung executive in Seoul said the giant South Korean technology company still wanted to resolve differences with Apple in the legal dispute.
"There is still a big gap in the patent war with Apple but we still have several negotiation options including cross-licensing," Samsung mobile division chief JK Shin said before departing for the United States to accompany his boss to the mediation talks.
The two companies already have had at least one mediation session, according to court documents. However, it was unclear whether Cook and Choi attended. A Samsung representative declined to comment, and Apple representatives did not respond to inquiries.
COMPLEX RELATIONSHIP
This week's session, scheduled for two days, will take place in a federal courtroom 40 miles north of Silicon Valley, in San Francisco's seedy Tenderloin neighborhood. It will be up to U.S. Magistrate Judge Joseph Spero -- a bow-tie wearing extrovert with a reputation for handling complex cases -- to corral the CEOs and their lawyers toward a settlement.
It is possible that if Spero senses animosity between the two men, he may separate them, with the judge shuttling between both sides, said one lawyer who has participated in mediations with the magistrate. In that scenario, the lawyer said, one company may have to set up camp in a room usually used for jury deliberations, while the other could be in the judge's offices.
"You'll see each other when you're headed to the common bathroom, but that's about it," said the lawyer, who declined to be identified because of pending cases. Spero declined to comment on the mediation.
The relationship between the two companies is complex: While Samsung's smartphones and tablets run on Android and compete with Apple's products, Samsung is also a key components supplier to Apple.
Cook became Apple CEO last year as company co-founder Steve Jobs wrestled with a terminal illness. Jobs told his biographer he intended to go "thermonuclear" on Android, but it is unclear whether Cook shares the same degree of emotion. Choi became Samsung's leader in 2010.
If Spero senses a rapport between the two men, he may opt to have them spend more time talking face to face.
Still, a CEO mediation session may only go so far. Last year, Oracle's Larry Ellison and Google's Larry Page undertook mediation in their high-stakes intellectual property fight over Android, but no settlement was reached and a trial in the case is entering its sixth week.
"I can't imagine that the heads of a major enterprise of that kind would take any more seriously a decision of that magnitude, simply because they are in the room together," said Vaughn Walker, a former northern California federal judge who now works as a mediator.
The case in U.S. District Court, Northern District of California is Apple Inc v. Samsung Electronics Co Ltd et al, 11-1846.

Facebook Could Fall

(Reuters) - Shares in social media company Facebook Inc could fall below the initial public offering price of $38, Barron's wrote in its May 21 edition.
Facebook saw its shares rise a scant 0.6 percent to $38.23 on Friday in the first day of trading.
The stock stayed above the $38 IPO price, supported in the market by the deal's underwriters. But Barron's said the "big question" this week will be whether they continue to do so.
Its shares still look overpriced compared with rivals such as Google Inc , and all the more so given Facebook's challenges in drawing revenue from mobile device users, the financial weekly wrote.
Facebook's shares also face the prospect of pressure from heavy sales of stock between now and the end of 2012 if early and inside investors get rid of shares ahead of a potential rise in capital gains taxes, according to Barron's.

Obama Economics

CAMP DAVID, Md. (AP) — Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.
"There's now an emerging consensus that more must be done to promote growth and job creation right now," Obama proclaimed after hosting unprecedented economic talks at Camp David, his secluded and highly secure mountaintop retreat. Seeking a second term amid hard economic times, Obama hailed a debate heading in the direction he likes, with nations now talking of ways to spark their economies instead of just slashing spending.
Yet there were no bold prescriptions at hand. Instead, leaders seemed intent on trying to inspire confidence by agreeing on a broad strategy no matter their differences. With all of them facing their own difficult political realities, they built some sovereign wiggle room into their pledge to take all necessary steps, saying "the right measures are not the same for each of us."
Obama played international host as Europe's debt crisis threatens to drag down the U.S. recovery and his own political future, underscoring the stakes for him in getting allies abroad to rally around some answers.
Much of the new emphasis on government-led growth seemed aimed at German Chancellor Angela Merkel, who came to the summit as the European leader who had demanded austerity as the most important step toward easing the eurozone's debt crisis. But the election of Socialist Francois Hollande as president of France, and Greek elections that created political chaos in the country were clear rejections of the belt-tightening Merkel represented.
Hollande, a new voice at the table in just his first week on the job, offered Obama a reminder of his own responsibilities to work to expand the economy, "even if he's in an electoral period and who has a Congress that's not necessarily easy to deal with."
Coping with shaky oil markets, the leaders set the stage for a united release of world oil reserves to balance any disruption in world markets when tough new sanctions are imposed on Iran's exports because of its disputed nuclear program. The leaders said they were ready to take "appropriate action" to meet any shortages.
The mere preparation to release oil reserves could help calm markets and ensure that oil prices, which have been dropping, don't climb again and anger consumers as U.S. elections approach.
The Group of Eight summit includes leaders of the United States, Japan, Britain, Germany, France, Italy, Canada and Russia.

China State Run Business

China state-run businesses to invest 350 billion yuan in Chongqing

BEJING (Reuters) - Thirty of China's biggest state-owned businesses have signed contracts worth about 350 billion yuan ($55.3 billion) with the southwestern municipality Chongqing, Chinese media reported on Sunday, in a sign of Beijing's determination to bolster confidence in the city formerly run by ousted leader Bo Xilai.
Since the fall of the once high-flying Chinese official, media reports and some investors have questioned whether Chongqing's debt-laden economy is also headed for trouble.
A senior government official led a delegation of state-owned enterprise heads, including those from Sinopec Group, China National Petroleum Corp. and China Mobile <0941.HK>, to the city last week, The Economic Observer reported on Sunday.
"The central enterprises should firmly grasp new development opportunities in Chongqing," the newspaper quoted Wang Yong, the head of the State-owned Assets Supervision and Administration Commission, as saying. "Central enterprises" are the businesses directly managed by Beijing.
The companies signed agreements for a total of 72 projects, the paper reported. The article provided no details on the individual investments.
Bo's removal as Chongqing's Communist Party boss in March, amid police suspicions that his wife had murdered an expatriate British businessman last year, has triggered a party review of his leadership, including Chongqing's financial affairs.
That, plus fears of a purge of Bo's business allies, have created concerns over the debt accumulated by the vast municipality of some 30 million people.
Chongqing, China's biggest municipality, has approached Hong Kong investors with the aim of selling distressed property assets and bolstering its finances, Reuters reported earlier this month.
China Development Bank, a policy bank that lends at Beijing's behest, signed a memorandum with Chongqing in May to provide more capital for roads and social housing.

JP Morgan Nat News

U.S. banking laws unable to stop JPMorgan loss: Republican Boehner

WASHINGTON (Reuters) - U.S. banking reforms could not have prevented JPMorgan Chase & Co's trading losses, and those involved in the activities that went awry should be held accountable, U.S. House of Representatives Speaker John Boehner said in an interview aired on Sunday.
"I don't believe there's anything in Dodd-Frank (financial reform law) that would've prevented this activity at JPMorgan," said Boehner, the top Republican U.S. officeholder. He made the comments Friday in an interview for ABC's "This Week."
Last week JPMorgan disclosed that it has suffered at least $2 billion in losses due to trades that went bad. The losses from derivatives trading could widen and have placed pressure on the bank to explain what happened as lawmakers and regulators tussle over rules for Dodd-Frank enacted two years ago.
"There's no law against stupidity. No law against stupid trades," said Boehner.
"And as long as depositors' money wasn't at risk and as long as there's no risk of a taxpayer bailout, they should be held accountable by the market and their shareholders," he said.
The 2010 Dodd-Frank financial oversight law was enacted in response to the financial crisis includes the Volcker rule, which bans banks from making speculative bets with company money. But it includes an exemption for trades done to hedge risk.
Since the Wall Street giant announced the $2 billion dollar snafu, Democrats have shown more unity and have said it underscores the need for tougher bank regulation. Congressional Republican lawmakers, many who voted against Dodd-Frank and have sought to repeal the law, have been more splintered in their response to JPMorgan's losses.
"There are big problems for this law, and it needs-- it needs some big changes," Boehner said, when asked if he maintains his position that Dodd-Frank should be repealed.
The Obama administration has avoided criticizing the bank, instead cautioning the losses highlight the need to protect taxpayers with tough financial regulation.
JPMorgan's losses have given regulators a renewed argument for tightening controls on big banks and has placed a focus on whether financial firms should be required to hold more capital to cushion possible losses.
Jamie Dimon, JPMorgan's chief executive officer, has been a critic of increased regulation. He has made a name for himself among Wall Street executives as JPMorgan has become the largest and most profitable U.S. bank.

Friday, April 13, 2012

Animation on Broadway

The Disney Legend Who Brought Animation To Broadway
"Lion King" Makes Broadway History 

New York — As the Great White Way celebrates one of the most momentus achievements in theatrical history with the news that "Lion King" is now the highest grossing Broadway show ever, Disney Legend Ron Logan stands as the cornerstone who started it all.  Box office figures  show that "The Lion King" last week swiped the title of Broadway's all-time highest grossing show from "The Phantom of the Opera," The Associated Press has learned.
The cumulative gross for "The Lion King" is $853,846,062, according to the show's numbers. Its chandelier-swinging rival's cumulative total is $853,122,847, according to musical's publicist. The "Lion King" surged past "Phantom" after netting over $2 million at the box office for the week ending Sunday, while "Phantom" pulled in about $1.2 million.
What makes the achievement all the more remarkable is that "The Lion King" chased down and grabbed the title despite "Phantom" having almost a full 10 years' head start. The Disney show opened in November 1997, while "Phantom" debuted in January 1988.


Without the legendary efforts of Ron Logan, this milestone may have never happened. Logan was the former Executive Vice-President of Walt Disney Entertainment and the founder and first President of Disney Theatrical and now Mr. Logan holds the position of Chief Creative Officer of the acclaimed  " DreamVision Company" which has taken the spotlight in recent months touting one of the most powerful teams within the  family entertainment industry.
Growing up in Leavenworth, Kansas, Logan studied trumpet, violin, piano, and dance. He began performing professionally in the ninth grade and has performed as a trumpet player and singer on recordings, television, motion pictures, and with bands and lounge acts throughout the United States. He began his career with Disney in the 1960s as a trumpet player at Disneyland Park in Anaheim, California.
As executive vice president of Walt Disney Entertainment, Logan was responsible for creating, casting, and producing all entertainment products for The Walt Disney Company, including the Disneyland Resort, the Walt Disney World Resort, Tokyo Disney Resort, Disneyland Resort Paris, The Disney Institute, Disney Business Productions, Disney Cruise Line, Disney Entertainment Productions, and Walt Disney Entertainment Worldwide.
Logan also was executive vice president of the Walt Disney Special Events Group, executive vice president of Disney Special Programs, Incorporated and the founder and first president of Disney Theatrical Productions, which produced Beauty and the Beast on Broadway and later, around the world.
He authored Walt Disney Entertainment - A Retrospective Look, an internal publication that documents the evolution of Walt Disney Entertainment from 1955 through 2000.
Logan convinced Disney to embark upon Broadway in 1994 with "Beauty and The Beast" and the rest as they say is history. Logan took his team to New York and completely transformed 42nd street opening the door to a legacy of animation on Broadway that now has reached historical status. Beauty and the Beast is a musical with music by Alan Menken, lyrics by Howard Ashman and Tim Rice and a book by Linda Woolverton, based on the 1991 Disney film of the same name. Seven new songs were written for the stage musical. Beauty ran on Broadway for 5,464 performances between 1994 and 2007, becoming Broadway's eighth-longest running production in history.

Mr. Logan was inducted as a "Disney Legend" in 2007.

Lion King Makes History

Broadway: Lion King leaves a Phantom in the Dark
It’s early April and the height of the Broadway theatre season. Very quietly, a lion has run down a phantom – at the theatrical box office, that is. According to newly released figures, The Lion King had officially become the highest grossing show on Broadway, nosing ahead of The Phantom of the Opera. But these shows are starting to resemble fast-food production lines. By J BROOKS SPECTOR.
According to the numbers, the Lion was now $723,215 ahead in cumulative revenues from the dates when the two shows first opened on Broadway. The Lion King’s total take now stands at $853,846,062, whereas The Phantom has only made a meagre $853,122,847. And in the week ending with Easter Sunday, the Lion took in around $2 million, pulling ahead of a Phantom that could only claim a $1.2 million take. What makes it more interesting is that the Lion came to Broadway nine years after the other show started its run.

Popular music historian Cary Ginell, in analyzing the reasons behind the longevity of shows like The Lion King, said it’s very much akin to a Disneyland ride. “It's a spectacle that satisfies on many different sensory elements: audio, visually, emotionally. It's also good for all ages, just like Disneyland is. For the kids, it's the visual elements: the colors, the costumes and the puppetry. For the adults, it's Hamlet basically. And the music is not geared to one age or gender or race. It's as universal a show as one can get.”
Well, maybe if Hamlet had stampeding wildebeest, Elton John music, and the circle of life. But the Disney experience is precisely what appeals.
Broadway has changed over the years. It is now inextricably tied up with broader entertainment trends. New York’s regular show-going audience has morphed substantially into an industry where out-of-towners and visitors rather than locals routinely fill the seats in the big shows.
Along the way, Broadway entertainment has become increasingly commoditised and integrated across the spectrum of other media and products, and the big shows become integral elements of international franchising and part of long-term marketing plans.
There was a time when the Broadway musical frequently had a significant literary pedigree and generally was a standalone venture that got its try-out in Philadelphia and New Haven. There it was tweaked and adjusted, and then finally put on to a Broadway stage. My Fair Lady began its life as a bit of Greek mythology that had been converted into a highly literate play, Pygmalion, by George Bernard Shaw, and then transformed by Lerner and Loewe into the musical, a show that held the record for decades for the longest continuous run on Broadway. There was Leonard Bernstein, Arthur Laurents and Stephen Sondheim’s West Side Story, a work that reaches back to Romeo and Juliet. For decades, musical theatre drew on such literary and cultural antecedents, which brought the complicated textures of a powerful story to the resulting show.
But consider the new and former Broadway champion: The Lion King and The Phantom of the Opera. The former’s lineage traces back to a popular Disney feature-length cartoon, with a slight detour along the way to the popular South African song, The Lion Sleeps Tonight, as well as New Age philosophy about the circle of life and Mother Earth. While the latter does actually reach back to a once-popular 1911 novel by Gaston Leroux, in its current form it really owes much more to one of those Mills & Boone romantic, semi-chaste bodice rippers: beast-meets-beauty-loses-beauty story.

Photo: The Phantom of the Opera is based on a once-popular 1911 novel by Gaston Leroux.
Or as longtime New York Times drama critic Frank Rich wrote in his original review, it would be a “severe disappointment to let the hype kindle the hope that Phantom is a credible heir to the Rodgers and Hammerstein musicals that haunt both Andrew Lloyd Webber's creative aspirations and the Majestic Theater as persistently as the evening's title character does.
What one finds instead is a characteristic Lloyd Webber project, long on pop professionalism and melody, impoverished of artistic personality and passion. "The Phantom of the Opera is as much a victory of dynamic stagecraft over musical kitsch as it is a triumph of merchandising uber alles.” Careful, calculated merchandising, that is.
Both shows are still going strong on Broadway, on the West End, as well as appearing in a clutch of other cities around the world, including Cape Town and Johannesburg.
But the thing about these shows is that they are not independent, individual productions. Rather, they are cloned replicas – not a hair is different from one to the next. Once the original production’s team sets the next version in motion, local producers have to follow specifications and instructions hundreds of pages in length to make certain one production doesn’t vary by so much as a millimetre from the next one.
The audience expects to get the original show that has, somehow, been magically transported half way around the globe, lest they feel cheated. The highest praise comes when audiences can say, “it’s just like the West End version!”
In fact, if there is one thing that productions like these come the closest to paralleling, it is the fast food restaurant chain outlet. Go into a McDonald’s in Tokyo or Johannesburg or Des Moines, Iowa, and the hamburger will be – and it had better be – exactly the same thing, right down to the texture of the bun, the tang of the pickle and just the right squizz of mustard and ketchup. There is a huge manual for this too and secret inspectors check to make sure it is followed.
In fact, to watch The Phantom in Japan – or anywhere else with one of these franchise musicals – and the sole difference will be that the characters somehow have managed to learn to speak in fluid, colloquial Japanese while in the depths of the Paris Opera instead of speaking in their more natural English.
Productions like these are part of an intricate web of products and sales pitches that include DVDs and CDs, character dolls, children’s costumes for Halloween, authentic costume jewellery, children’s games, mugs, lunch boxes, toys, and other miscellaneous souvenirs. This draws impetus from the model pioneered by Walt Disney from the 1950s onward and refined further by the Star Wars empire of films, tie-in sales and a near-constant stream of products bearing the Star Wars imprimatur.
Central to the efflorescence of this kind of Broadway show from cartoon and comic book to live stage has been the sometimes-enigmatic presence of Julie Taymor. Taymor gets major credit for dragging the Disney cartoon tale of a lion cub forced to confront his inner and outer demons into being transformed into an engaging live theatre experience.
Taymor is something of an entertainment polymath, having directed opera and Shakespearean dramas as well as award-winning films. The “secret” engine of Taymor’s success actually lies in her experiments with the dance, drama and puppetry of Southeast Asia that combine high and low art simultaneously in these productions.
Taymor attended the Jacques LeCoq School of Mime in France and then apprenticed herself to the “guerrilla street-theatre-styled Bread and Puppet Theatre” of Chicago, which  aimed at audiences well beyond traditional theatre ones with its avowedly political message in the 1960s and 70s. Then, having won one of those MacArthur Foundation “genius” grants worth about R5.5million, she spent years studying and performing in Indonesia, absorbing a Southeast Asian theatrical vocabulary that became the bedrock of her theatrical world.
Ironically perhaps, Taymor became the logical – perhaps essential – choice to transform a children’s cartoon into a multilayered, mystical theatre piece – on behalf of Disney. After this astonishing success, Taymor embraced the even greater challenge of turning the dark universe of Spiderman into another show, Spiderman – Turn Off the Dark.
The result broke Broadway records for the cost of the production, the number of previews before it finally opened, and probably the number of rewrites needed as well as the number of leads injured before the play even opened. Taymor ended up being released from the project before it had yet another re-conception, but the die has been cast. In the future, a safe prediction is that more and more shows will come out of the universe of the comic book and the cartoon for a very simple reason – audiences around the world both love this material and know and embrace its legends and leitmotifs.
As The Lion King neared its monetary milestone, Thomas Schumacher, president of Disney Theatrical Productions, said of Taymor that “her vision, continued commitment to the show and uncommon artistry account for this extraordinary success.” He added that the show keeps finding and attracting new audiences “millions of whom are experiencing their first Broadway show at The Lion King. Surely, introducing so many to the splendor of live theater is our show's greatest legacy.”
In other words, people who never thought they would ever fork over a week’s wages to take their family to see a Broadway show continue to beat a path to the door of this one, and now they are going to line up to see Spidey as well.

RIM's Balsillie had radical plan to save company, report says

The former co-CEO and co-chairman apparently wanted to offer his company's network to carriers in the U.S. and elsewhere to boost the BlackBerry maker's financials.
 

RIM&#39;s former co-CEO Jim Balsillie.
RIM's former co-CEO Jim Balsillie.
(Credit: Stephen Shankland/CNET)
Research In Motion has decided to double down on its devices and the upcoming BlackBerry 10. But according to a new report, its former co-CEO and co-chairman had other ideas before he left the company in January.
According to Reuters, citing sources, Jim Balsillie held talks with North American and European carriers prior to his departure from RIM, offering them access to his company's proprietary network. If they had inked a deal, the carriers would have been allowed to route traffic from non-RIM smartphones through the BlackBerry maker's network for a fee. The move, Balsillie reportedly believed, would help RIM generate far more revenue, and benefit carriers that are looking to reduce some of the load smartphones are putting on their networks.
If RIM and Balsillie had been able to come to a deal, it might have been music to investors' ears. For months now, major investors have been calling on RIM to focus its efforts on its services and network and consider ditching its hardware business. They ostensibly believe that RIM can't keep up with Apple, Samsung, and countless other smartphone vendors in the hardware market, but could make a mark in services.
According to Reuters, however, those who hold the power at RIM, including current CEO Thorsten Heins, don't agree. And while Balsillie was in discussions with AT&T and Verizon in the U.S. and several carriers in Europe, Heins and former co-CEO Mike Lazaridis nixed his idea, deciding instead to focus on BlackBerry 10 devices, according to the news services' sources.
Although Balsillie reportedly wanted to offer access to RIM's network, he wasn't willing to hand over full access. Smartphone owners would have been able to place calls, send text messages, and use data services, but they would have only been able to access a few services, like Facebook and Twitter; much of the rest of the Web would have not been accessible.
RIM's network has been used exclusively for BlackBerry services since its inception, and for the most part, it has delivered an experience that customers are after. However, last year, RIM suffered an embarrassing multiday network outage that left e-mail services and BlackBerry Messenger offline. Whether that outage played a role in any of the negotiations Balsillie was engaging in is unknown.
Still, it's clear that Balsillie, like others who follow RIM, knew that something drastic needs to be done to fix the company. RIM announced last month that during the fiscal fourth quarter, it lost $125 million, down from the $934 million profit it generated in the prior year. Most troubling, RIM said that BlackBerry shipments fell to 11.1 million units during the period, dropping 80 percent year-over-year.
Looking ahead, Heins says that his company needs to make a "substantial change." Evidently, that change will not come byway of leveraging the BlackBerry network.
RIM did not immediately respond to CNET's request for comment on the Reuters report.

Business news: Google stock wrinkle, Goldman Sachs settles charges, Best Buy hints of scandal

Published: Friday April 13, 2012/Business News Central   
google.pnga Google homepage honors Alexander Calder, a Stevens Institute of Technology alum from 1919
Google Proposes Changing Stock Structure to Maintain Its Control
Google Inc., the world’s largest Internet-search company, plans a new stock structure that gives the company more leeway in issuing shares, while letting management keep control over the direction of the business.
The stock change would create a new class of nonvoting shares that will be distributed to existing shareholders in what is effective a 2-for-1 stock split.Google announced the move as part of Google’s first-quarter financial results, which met or beat most analysts’ estimates, boosted by online-ad spending.
Google aims to prevent employee stock compensation and stock-based acquisitions from diluting the voting power of its founders. The Mountain View, California-based company wants the flexibility to be able to make long-term investments, using its shares, without the risk of losing control.
“Day-to-day dilution from routine equity-based employee compensation and other possible dilution, such as stock-based acquisitions, will likely undermine this dual-class structure and our aspirations for Google over the very long term,” Chief Executive Officer Larry Page and co-founder Sergey Brin said today in a statement posted online. “We have put our hearts into Google and hope to do so for many more years to come. So we want to ensure that our corporate structure can sustain these efforts and our desire to improve the world.”
First-quarter profit, excluding certain costs, was $10.08 a share, the company said on its website. Analysts had projected $9.64 on average, according to data compiled by Bloomberg. Excluding revenue passed on to partner sites, sales rose to $8.14 billion, matching estimates.
Page, who became CEO a year ago, has pushed Google deeper into display advertising and mobile services. This year the company will account for 16.5 percent of the U.S. market for display ads, which include banners and videos, according to EMarketer Inc. By next year, Google is projected to grab almost 20 percent, unseating Facebook Inc. as the market leader.
“The viability of Google is still very, very strong,” said Ron Josey, an analyst at ThinkEquity LLC in New York. He recommends buying the stock, which he doesn’t own himself. “There’s still a lot of room for growth across its multiple businesses.”
Google’s shares were little changed in late trading after the announcement. They had risen 2.4 percent to $651.01 at the close in New York.
While the stock proposal will be subject to a vote at Google’s annual meeting on June 21, Page, Brin and Chairman Eric Schmidt control the majority of voting power.
“We expect it to pass,” David Drummond, Google’s chief legal officer, said in the statement.
Google still gets most of its revenue from Internet search ads -- the text links that appear in query results. The average cost per click declined 12 percent in the first quarter after falling 8 percent in the fourth quarter. The number of paid clicks rose about 39 percent.
“The cost per click is worse than expected, but that looks like it was made up for by very strong paid click,” said Clay Moran, an analyst at Benchmark Co. in Delray Beach, Florida. He has a hold rating on the stock, which he doesn’t own. “There was good growth in revenue.”
The company posted first-quarter net income of $2.89 billion, or $8.75 a share, compared with $1.8 billion, or $5.51 a share, a year earlier.
Mobile search ads have become a bigger piece of Google’s business. Companies will probably commit 23 percent of their search-based ad spending to mobile devices by the end of this year, according to Marin Software, which helps manage about $3.5 billion annually in online ads. That’s up from 8.7 percent at the end of last year.

Saturday, January 28, 2012

Facebook IPO

Facebook Said to Plan Its IPO Filing for as Early as Next Week

 Jan. 28 (Bloomberg) -- Facebook Inc., the world’s largest social-networking service, is aiming to file for its initial public offering as early as next week, two people with knowledge of the matter said.

The company is discussing a valuation of $75 billion to $100 billion, said two people, who asked not to be identified because the plans haven’t been made public. Timing for the filing is still being discussed and may change, they said.
The IPO would provide funds to help Facebook maintain its expansion and fend off competition from Internet rivals such as Google Inc. and Twitter Inc. The company has discussed raising $10 billion in the offering, a person familiar with the matter said in November. Facebook may set its price at the low end of the valuation range to entice investors and ensure the stock rises after the IPO, said Anupam Palit, an analyst at GreenCrest Capital Management LLC in New York.
“They might discount it a little bit in order to make sure the first couple days of trading are very strong,” he said.
Facebook is close to hiring Morgan Stanley to handle the deal, and Goldman Sachs Group Inc. will probably play a “major role” in the IPO, the Wall Street Journal said yesterday. The newspaper was first to report that Facebook may file its paperwork as early as next week.
Larry Yu, a spokesman for Menlo Park, California-based Facebook, declined to comment, as did representatives of Goldman Sachs and Morgan Stanley, both based in New York.
Trading Suspension
Shareholders of Facebook faced a three-day suspension of trading on secondary markets that lasted through yesterday, people with knowledge of the matter said this week. While buy and sell orders could be made, transactions wouldn’t be processed by Facebook’s attorneys at Fenwick & West LLC, the people said.
Halting the trading, which had allowed employees and early stakeholders to buy and sell shares, didn’t mean the filing is imminent, the people said. Still, some companies suspend trading ahead of a filing to make sure that investors can’t exchange shares until all of the information is public, said Sam Hamadeh, chief executive officer of New York-based PrivCo.
A trading halt also may represent an effort by private companies to ascertain how many shareholders they have.
Co-founded by Mark Zuckerberg in 2004 in a Harvard University dorm room, Facebook has amassed more than 800 million users with an easy-to-use website that lets anyone with an Internet connection construct profile pages, post video and photos and interact with friends. The company has nudged aside competitors such as MySpace Inc. and generates sales from advertisers as varied as AT&T Inc., Best Buy Co. and Sony Corp.
IPO Surge
Facebook would follow a flurry of social-media companies holding IPOs in 2011, the biggest year for U.S. Internet offerings in more than a decade, according to data compiled by Bloomberg. Nineteen companies raised $6.6 billion in 2011 -- the most since 2000, when 101 businesses raised $11 billion. Professional-networking site LinkedIn Corp., music-streaming service Pandora Media Inc., daily-deal site Groupon Inc. and social-gaming company Zynga Inc. all sold shares last year.
Facebook expects to be required by U.S. regulators to disclose financial results by April 30, if it doesn’t go public by then, the company said last year when it announced an investment from Goldman Sachs and other backers. The $1.5 billion investment valued the company at $50 billion.
Facebook decided to wait until 2012 for its IPO to give Zuckerberg more time to gain users and boost sales, people familiar with the matter said in 2010.

US Tax Deal

Swiss urge U.S. tax deal to shield other banks

Swiss President and Finance Minister Eveline Widmer-Schlumpf gestures during a news conference on the weekly meeting of the Federal Council in Bern, January 27, 2012. REUTERS/Michael Buholzer
DAVOS, Switzerland | Sat Jan 28, 2012 10:15am EST
(Reuters) - The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.
"It is very regrettable," Eveline Widmer-Schlumpf told journalists at the World Economic Forum of the decision by Wegelin to break itself up in the face of possible indictment on charges the bank helped wealthy Americans to evade taxes.
"This development shows how important it is that we come to solutions in the discussions, negotiations with the United States which hopefully prevent other banks getting into a similar situation," she said.
The U.S. Department of Justice is probing 11 Swiss banks, including Credit Suisse (CSGN.VX), Julius Baer (BAER.VX) and Basler Kantonalbank (BSKP.S).
"I don't know whether other banks are in a similar or same situation...but what I know is that various banks are being threatened by the United States with prosecution and we will try to do everything...to come to a solution," Widmer-Schlumpf said.
Switzerland has been lobbying for a year to get the investigations dropped in return for the payment of a hefty fine and the transfer of names of thousands of U.S. bank clients suspected of dodging taxes.
UBS (UBSN.VX) paid $780 million to settle U.S. criminal charges in 2009 and also turned over the names of 4,500 clients.
Widmer-Schlumpf, who held talks in Davos this week with U.S. Treasury Secretary Timothy Geithner, said she hoped to reach a deal in the coming months, but declined to comment on the size of the fines under discussion for Swiss banks.
"It is up to the financial institutions to say how much they are prepared to pay. It is not up to the state," she said.
Switzerland struck deals last year with Britain and Germany that would allow their citizens to pay tax on secret accounts without revealing their identities, although these are being challenged by the European Commission which wants to force Switzerland to accept an automatic exchange of bank information.
Widmer-Schlumpf, who also holds the rotating Swiss presidency, said the European Unon had signaled to Switzerland it wanted to discuss a general accord with the bloc.
FRANC CAP ACCEPTED, RESPECTED
Separately, Widmer-Schlumpf reiterated the determination of the Swiss National Bank to defend the 1.20 per euro cap on the franc it imposed last year even after the resignation of former bank chief Philipp Hildebrand over a currency trading scandal.
"They have said they will do everything to pursue this policy so the signal is clear," she said.
"We see today that 1.20 is accepted, is respected. Whether the national bank decides sometime to move it, it will have to examine itself and whether it can be defended. That is not up to politicians, that is up to the national bank."
Thomas Jordan, SNB vice chairman who took over as interim head after Hildebrand stepped down, has vowed to defend the cap and said the SNB would take further steps should the economic outlook and deflationary risks make them necessary.
"Mr Jordan is doing an excellent job," Widmer-Schlumpf said, adding she hoped the SNB's supervisory council would make a proposal as quickly as possible over who should replace Hildebrand permanently.

Exxon Tonen

Exxon to sell part of Tonen stake for $3.9 billion: sources

TOKYO | Sat Jan 28, 2012 11:16am EST
(Reuters) - Exxon Mobil (XOM.N) plans to sell a large part of its 50 percent stake in TonenGeneral Sekiyu KK (5012.T) back to its Japanese refining partner in a deal that could be worth about 300 billion yen ($3.9 billion), and will make an announcement as early as Monday, four sources with direct knowledge of the matter said.
Exxon Mobil will retain about a 20 percent stake in TonenGeneral but the deal will mark a de facto retreat from the world's third-largest economy by the U.S. oil giant, which is focusing its resources on emerging markets and development of natural resources.
The move could also spark realignment among Japan's oil refiners, which have been cutting capacity to cope with falling demand caused by a weak economy and a shift to more efficient and environmentally friendly forms of energy, analysts have said.
Reuters reported earlier this month that Exxon was in talks to sell part of the stake back to TonenGeneral.
TonenGeneral, which imports and distributes Exxon oil in Japan, ranks as the country's No. 2 refiner behind JX Holdings (5020.T). Smaller rivals include Idemitsu Kosan Co (5019.T), Cosmo Oil (5007.T) and Showa Shell (5002.T).
Exxon and TonenGeneral aim to complete the deal around summer, the sources told Reuters on condition of anonymity.
TonenGeneral will seek funds from Sumitomo Mitsui Banking Corp, Sumitomo Trust Banking, Bank of Tokyo Mitsubishi UFJ and Mitsubishi Trust Bank to buy back the stake, the sources said.

RBS Updated


RBS chairman waives $2.2 million bonus after Hester row

Royal Bank of Scotland (RBS) Chairman Sir Philip Hampton rides an escalator before the start of the the company's annual general meeting in Edinburgh, Scotland April 28, 2010.     REUTERS/David Moir
LONDON | Sat Jan 28, 2012 11:12am EST
(Reuters) - Royal Bank of Scotland's (RBS.L) Chairman Philip Hampton will not pick up a 1.4 million pound ($2.2 million) stock bonus, the bailed-out bank said, following public anger and political squabbling over a 1 million pound bonus for its chief executive.
Anger over bankers' earnings has shown few signs of abating, with many still set for million pound salaries while elsewhere thousands lose their jobs as the global economy stutters in the face of Europe's debt crisis.
In Britain, the salaries of top staff at RBS and Lloyds (LLOY.L) are particularly controversial because both banks were bailed out to the tune of 66 billion pounds during the credit crisis, with Britain ending up with an 83 percent stake in RBS along with a 40 percent holding in Lloyds.
"Sir Philip Hampton will not receive the 5.17 million shares he was awarded in 2009 when he joined RBS," said a spokesman for the bank.
Based on RBS's closing share price of 27.74 pence Friday, Hampton's share-based award would have been worth 1.4 million pounds. In 2010, Hampton received a basic salary of 750,000 pounds, with no extra performance bonus or benefits.
The decision not to proceed with Hampton's stock award comes after politicians from across the spectrum criticised the company's decision to give its chief executive Stephen Hester a stock bonus worth roughly 1 million pounds.
Earlier this week, RBS halved CEO Hester's stock bonus for 2011 to just under 1 million pounds from 2 million pounds in 2010, but resisted calls to axe the bonus altogether. Hester has a basic salary of 1.2 million pounds.
The decision by Lloyds chief executive Antonio Horta-Osorio to waive his bonus after he spent time off work on sick leave, had put further pressure on Hester to make a similar gesture.
CAMERON SEEKS TO DEFLECT CRITICISM OVER RBS PAY
RBS shares fell sharply over the course of 2011, losing approximately half their value, and the stock remains well below the average price of 49.90 pence at which the British taxpayer acquired its stake in the bank.
Hester has also had to cut more than 30,000 jobs since taking up his post in 2008, as part of a large-scale restructuring to sell off assets and businesses.
Britain's Conservative-led coalition government has also been criticised for not doing more to curb Hester's pay, facing attacks from not only the opposition Labor party but also from its own members.
Saturday, Prime Minister David Cameron sought to deflect criticism over his handling of the issue, arguing it would be worse for the taxpayer if RBS had to find a new management team.
"Let me get the facts straight, the fact is Stephen Hester was brought in by the last government, a contract signed by the last government, to turn round RBS, a bank that had got itself into a complete mess," Cameron told television reporters.
"The government has made its views known, and that is why his bonus was cut in half compared to last year. But we do have to bear in mind that the alternatives to what is happening now could be even more expensive if you had a whole new team coming into RBS," he added.
Hester joined RBS in October 2008 from property company British Land (BLND.L) as RBS was reeling from its disastrous acquisition of Dutch bank ABN AMRO.
Britain used some 45 billion pounds of taxpayers' money to rescue RBS, leading to the eventual resignation of former head Sir Fred Goodwin, who was replaced by Hester.
Hester, who had previously worked at rival banks Abbey National and Credit Suisse (CSGN.VX), was given a brief to restructure RBS and return it to health, and RBS said he deserved his stock bonus for making the bank "safer."
Britain aims to eventually sell its state holdings in RBS and Lloyds back to the private sector, although volatile financial markets have meant the timing of any disposal is uncertain.