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...firm will lay off anywhere from 10% to 15% of its employees in 2009 as a result of stagnating revenue. "This is not only for Google. This is for every Internet company that has only one revenue source, which is advertising," says Chowdhry. He estimates that the company will bring in $14.57 billion by 2010, down 4% from an estimated $15.71 billion in 2008. Sanford Bernstein's Lindsay, on the other hand, recently lowered his upbeat forecast for the search giant but still expects a healthy 19.5% increase in revenue in 2009. (See pictures of "Life in the Googleplex...
...Street Journal that he plans to prune the company's offerings in the coming months. It will also try to monetize some previously ad-free products like Google Finance and News. Such efforts may help it weather the economic storm without resorting to layoffs, even if it doesn't bring its stock price any closer to the November 2007 high of $732 per share. (It closed on Wednesday at $279.) And it's still got some $14 billion in cash reserves. So for now, at least, the free lunches are still...
...bookstore features various valuable first edition books, as well as a more affordable selection of used books. Booksellers don’t always sell to the highest bidder, but it’s worth a shot: if you’re a Houghton habitué, make sure you bring along your Black Card...
...arraignment for smuggling penguins (or was it people?) and thus Bilotti was welcomed into their house for the long weekend. So Prestige and Mobility chartered a train on Boston’s historic “Red Line” to Quincy Adams where a private car awaited to bring us to Chiappini manor. [1]After settling into our deluxe accommodations, we told the concierge of our night’s plans, and she replied, “Vinnie, stay away from That Murdering Place!” But our concierge be damned! Four dollar pitchers were too appealing...
...business plan that's doomed to fail," Senator Lindsey Graham, a South Carolina Republican, told Fox News Sunday, adding that Republican members are not wild about the Democrats' demand that the Big Three present their plans to Congress. "The idea that you would take three failed car companies, bring [a plan] to 535 members of Congress and let us pass judgment on it doesn't make a lot of sense to me. I don't know how to run a car company...