Shares of Microsoft Corp., the world’s largest software maker, sank Wednesday after chip maker Intel Corp. said fourth-quarter sales missed already lowered expectations.
Even a music Web site has published an article about the effect of Microsoft’s sharp drop in value.
Rap veteran E-40 is reviewing his stock market options after losing money from shares in software giant Microsoft and his fast food chain Fatburger.
Cessation and Deflation
Microsoft has put on hold any interest in further expanding its operations in Seattle because of the deteriorating economy, a spokesman said Tuesday.
According to this report, Microsoft will soon shut down some gaming divisions.
Reuters and other outlets have reported recently that both Microsoft and Sony will be closing some of their major gaming divisions in early 2009.
Microsoft Takes Legal Action Against Woolworths In The UK
It could be called the end of an era, as Woolworths in the United Kingdom has closed it’s doors forever to the public. Amidst the announcement that Woolworths would be shutting down due to bankruptcy, there were the typical “everything must go” sales where the store was practically giving their goods away. Well everyone in the land of the Union Jack must not have got the memo, and Woolworths was left with a ton of overstock, and coincidentally some of that stock happened to be Xbox 360′s. Now Microsoft isn’t just trying to take legal action against Woolworths, or Deliotte who is the administrator of the now defunct retailer, just to crash their party.
This is also covered in:
- Microsoft Sues Woolworths to Reclaim 360s
- Microsoft Suing To Get Some 360s Back
- Microsoft Suing To Recover Merchandise From Woolsworth
- Microsoft wants its games back off Woolies
- Microsoft to Woolworths: Return the 360s we sold you; we’ll keep your money
How low have they sunk? [Clarification 08/01/09: this is in reference to Woolworths]
Some days ago we cited many reports of looming layoffs. There are some newer reports:
- Thousands of jobs under threat at Microsoft
- Rumour: Microsoft to cull 15000 workers in January
- Stop Shrinking, Microsoft
- Rumors Of Microsoft’s 15,000 Person Staff Cuts
- Redundancies on the way at Microsoft?
- Microsoft To Lay Off [Your Guess Here]
- Microsoft Thinking Over Thousands Of Redundancies
- Microsoft prepares to chop workforce in first major jobs cull
- Microsoft restructure rumours abound
- Microsoft Rumored to be Considering Job Cuts
- Microsoft Feels the Economic Pinch
- Rumor: Microsoft to Cut 15,000 Employees this Month
- IBM, Microsoft, Massive Layoff Rumors
- Microsoft layoff rumors swirl
- Microsoft Mulling Layoffs?
- Microsoft layoff rumors swirl
- Microsoft layoff rumors continue their swirl
- Sign of the Times: First-Ever Microsoft Layoffs?
- Microsoft Planning Layoffs?
- 5 Reasons Why Not to Be Shocked by Microsoft Layoffs
Another interesting report today comes from Satyam, which turns out to be a financial fraud.
Satyam Chief Quits, Admits Faking Financial Results
In a resignation letter submitted to Satyam’s board, B. Ramalinga Raju said the company’s balance sheet carries inflated bank and cash balances, non-existent accrued interest, understated liabilities, and overstated credit amounts owed to the company.
Satyam and Microsoft have a tight alliance.
It was almost 10 years ago that Bill Parish wrote: “Microsoft’s perspective is best reflected by Bob Herbold, Chief Operating Officer, to whom the CFO reports. Bob very sincerely replied, “Bill, everyone is doing it.” My response was that Microsoft is a leader and that others are now seeking to emulate these fraudulent practices they have legitimized. Naturally Bob was not pleased by this perspective and that was our final conversation.”