Apple named ‘World’s Most Admired Company’

By on March 1, 2012 at 7:05 PM.

Apple named ‘World’s Most Admired Company’

Fortune on Thursday published its list of the “World’s Most Admired Companies” and as expected, Apple came in on top. “To say it was another big year for Apple would be a gross understatement,” the publication stated. “With the passing of Steve Jobs, questions swirled around the company’s future. But under new CEO Tim Cook’s guidance, Apple continues to prosper.” The Cupertino-based company is coming off its best quarter of all time, which boosted its market cap to over $500 billion, making it the most valuable company in the world. Rounding out the top-10 were Google, Amazon, Coca-Cola, IBM, FedEx, Berkshire Hathaway, Starbucks, Procter & Gamble and Southwest Airlines. Apple’s 2012 ranking marked the fifth consecutive year that the company has topped Fortune’s list. More →

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T-Mobile to offer cheaper “Value” plans to those who buy phones at full price

By on July 20, 2011 at 12:00 PM.

T-Mobile to offer cheaper “Value” plans to those who buy phones at full price

T-Mobile announced new “Value” plans for customers who sign up for service and pay the full price of a new phone or bring their own device. Beginning on July 24th, customers will have the option of paying for a new device at an unsubsidized cost upfront or in monthly installments. T-Mobile’s cheapest Value plan is a $39 monthly option that provides 500 minutes and unlimited texting, but the carrier will also offer 2GB, 5GB, and 10GB data packages. Family lines will start at $49.99 per line, and customers will have the option of signing up for “value” mobile broadband plans, too. The new plans will be particularly attractive to customers who take hand-me-down phones from friends, but there’s a small catch. It’s typically attractive to buy a phone at full price to avoid being locked into a two-year agreement. If you sign up for a Value plan, however, you’ll still be locked into a contract. T-Mobile’s current “Even More” plans will be rebranded “Classic” when the Value options make their debut. Read on for the full press release from T-Mobile. More →

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RIM chiefs no longer billionaires thanks to plummeting RIM stock

By on June 23, 2011 at 6:01 PM.

RIM chiefs no longer billionaires thanks to plummeting RIM stock

Shares of RIM stock have taken a beating since the company announced devastating first-quarter earnings last Thursday. The Waterloo, Ontario-based BlackBerry maker missed Wall Street’s first-quarter consensus, it lowered its full-year guidance, it announced workforce reductions, it confirmed product delays and investors went running for the door as did a top executive. Since the earnings release last week, RIM’s stock has fallen more than 25%. This is bad news for every RIM investor, but two in particular must be especially upset. RIM Co-CEOs Mike Lazaridis and Jim Balsillie collectively own more than 10% of the company, a stake that helped each man achieve billionaire status. Last year, Lazaridis was ranked the world’s 651st richest man by Forbes with a net worth of $1.9 billion, and Balsillie was No. 692 on the list with a net worth of $1.8 billion. Fast forward to today, and neither man can call himself a billionaire any longer. The cheifs’ stake in the company is still worth more than $1 billion combined, but separately, their net worths are now just roughly $800 million a piece. We doubt the employees set to be laid off in the coming weeks and months will shed any tears for the Co-CEOs’ loss, but it’s just another piece of a puzzle that continues to fall apart. Some analysts believe RIM is hardly out for the count, however, and we agree that the company has a bit of fight left in it. If Balsillie and Lazaridis hope to rejoin the billionaire club, it’s time to put those gloves on and start swinging. More →

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Acer to focus on value, innovation instead of volume

By on April 8, 2011 at 4:50 PM.

Acer to focus on value, innovation instead of volume

Acer appears to have taken company founder and former CEO Stan Shih’s recent advice quite seriously. Late last month following news that Acer had lowered its guidance for the first quarter of 2011, Shih said Acer needed to overhaul its business if it hoped to remain competitive. He also noted that Acer should focus on improving its profit margin rather than becoming a leader in the PC market by shipment volume, as had been the company’s goal. Just two days later, Acer announced that its CEO, Gianfranco Lanci, was resigning from the company. Now, Acer’s interim CEO J. T. Wang said on Thursday that the company will indeed shift its focus away from shipment volume and will instead spend more time and money on research and development in an effort to deliver value and innovation to consumers. As an example, Wang said that Windows 8 and its support for ARM-based platforms would provide opportunities for new netbook and notebook designs. Wang also noted that while tablet sales will have an impact on sales of traditional computers, the devices’ impact on the market will not be dramatic enough to “kill” notebook computers or netbooks. More →

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Bloomberg: Facebook to postpone IPO until 2012

By on July 31, 2010 at 5:49 AM.

Bloomberg: Facebook to postpone IPO until 2012

Bloomberg is reporting that social network Facebook will postpone an IPO until 2012. Investors have been speculating that the world’s largest social network — valued at $24.9 billion — would go public sometime in 2011. Bloomberg writes, “Waiting lets Zuckerberg, 26, hone the skills needed to steer a company that issues quarterly results while facing criticism on such matters as user privacy.” Facebook declined to comment, and Zuckerberg himself said his company would offer an IPO, “when it makes sense.” People familiar with the company estimate that the social network would bring in as much as $1.4 billion in sales in 2010 alone. Would any of you jump on the Facebook IPO if given the opportunity? More →

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