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Ex-AMD CEO Hector Ruiz steps down as Globalfoundries chairman amid insider trading scandal

by Donald Melanson posted Nov 2nd 2009 at 11:59AM

We won't dive back into all the backstory that led to former AMD CEO Hector Ruiz's current troubles as the chairman of AMD spin-off Globalfoundaries, but let's just say that when your name is in the same sentence as "insider trading scandal" and "hedge fund probe," you're probably in a pretty bad way. While this story is obviously still far from over, it looks like Ruiz has at least realized the gravity of his predicament, and announced today that he's taking a "voluntary leave of absence" before formally resigning from the company on January 4th, 2010. He'll be replaced immediately by former Broadcom CEO Alan "Lanny" Ross, who will serve as interim chairman until the company's board appoints a permanent chairman.

[Via GigaOM]

Ex-AMD chief Hector Ruiz caught up in insider-trading scandal

by Nilay Patel posted Oct 27th 2009 at 8:11PM

Hector Ruiz certainly led a checkered career as CEO of AMD, earning the highest CEO salary in the semiconductor industry as his company's stock dropped, its products dragged, and its fortunes sank, but the man didn't stop there -- it looks like he may also have been involved in a little illegal insider trading on the side. According to the Wall Street Journal, Ruiz is the heretofore unnamed AMD executive who illegally tipped off a hedge fund investor about the company's big spinoff of Globalfoundries, ultimately leading to criminal and civil charges against Galleon and six of its employees. Ol' Hec's currently in the clear, as he hasn't been charged with anything, but considering he's now the chairman of Globalfoundries, well, let's say things are about to get a little sticky. We'll let you know -- we've got a feeling Gizmondo's Stefan Eriksson is going to look like small potatoes when this is all over.

Netflix hints at Watch Instantly integration on 'already-popular device'

by Darren Murph posted Oct 24th 2009 at 5:04PM

Microsoft's Xbox 360 may call itself the only console to stream Netflix, but all that could be changing -- and soon. As Netflix continues to pull in new subscribers (and cash flow) like it's no big deal, the company is apparently looking to spread its wings even further by integrating its wildly popular Watch Instantly feature into "a device already owned by a large number of consumers." Naturally, the most fitting candidates for that would be Sony's PlayStation 3 or Nintendo's Wii, though the company has yet to come forward with anything concrete. Just so know you, Netflix credits the Xbox 360's streaming integration as the main reason some 2.4 million customers have signed up since late 2008, so it's more than apparent that it loves the game console. Any bets for when this will go down, or are you just plugging your ears in order to avoid potential disappointment?

[Via Joystiq]

Nokia posts $834 million quarterly loss, smartphone share down to 35%

by Thomas Ricker posted Oct 15th 2009 at 8:12AM

Nokia just posted a net loss of 559 million euro (834 million dollars) for the third quarter -- its first quarterly loss in a decade according to the AFP. The loss comes after a reported 20% drop in sales and 1.17 billion euros in write-downs, mostly for impairment charges on Nokia Siemens Networks. Nokia also said that its smartphone market share dropped to 35% versus 41% in the previous quarter. With fierce competition from Apple and RIM, and Palm just launching its Pre into Nokia's European stronghold, well, it's a good thing Nokia's branching out into untapped markets like single-core Atom-based netbooks.

Read -- Smartphone slip
Read -- First loss in a decade
Read -- Nokia Q3 statement

Palm Pre stock levels at Best Buy for entire US now leaked in full?

by Thomas Ricker posted Jun 4th 2009 at 7:15AM

We'll be straight with you, we have no idea if the linked document (that builds on the original) is authentic or not. Then again, why would someone go to the trouble of faking a 31 page PDF file showing Palm Pre inventories for every Best Buy in the US and Puerto Rico -- the internet just can't be so sad. Anyway, given the positive reviews received, we expected demand to outstrip the meager inventories on-hand at launch. As we figure it, anything that might help you sort out the mess on Saturday will be appreciated.

[Via Everything Pre, thanks John]

Read -- PDF share 1
Read -- PDF share 2

Palm Pre stock levels for launch day at Best Buy leaked?

by Chris Ziegler posted Jun 2nd 2009 at 11:59AM

We don't want to incite panic in big box parking lots from coast to coast or anything (or do we?), but from the looks of things, Best Buy's Pre stock for launch day is meager at best -- and distribution is a little weird. A poster over on everythingpre's forums threw up a bunch of alleged inventory screen shots, suggesting that Florida and Texas stores are particularly well-off -- many stores are expected to get 18, 20 or more -- while Illinois stores appear to be getting hosed (a trip to the Hancock location downtown, for example, will result in success for just two people). The way we see it, this could be fake -- but it might just have to do with how close each store is to Best Buy's distro centers or a balancing act with proximity to Sprint locations in the area. Worst case scenario, we figure, you can just riot.

Update: A tipster tells us these "On Order" numbers are actually the number of Pres each store's manager has requested, which doesn't necessarily correlate to the number they'll actually receive. Of course, that still doesn't explain why downtown Chicago's Best Buy would request just two -- there have to be some other constraints involved that we're not privy to -- but it's an interesting tidbit nonetheless.

Palm selling some stock to help with Pre, pay off Bono before he breaks kneecaps

by Chris Ziegler posted Mar 9th 2009 at 7:02PM

Pre fever's in the air, yes, but beneath the elation and excitement of Palm's mega-launch, there's a cold, hard reality: bills are piling up. To that end, the company is looking to queue up a "secondary offering" of its stock to the tune of 18.5 million shares, which -- thanks to a nice bump in value since the Pre's announcement -- should rake in over $100 million in capital. Some $49 million of that would be used to repay part owner Elevation Partners, while the rest would be funneled directly into Pre launch activities and future product development. Palm wants to wait until market conditions are just right for the offering to take place, but it'd like to have the stock sale wrapped up by the 31st; look for a hands-on from us shortly thereafter.

Best Buy rumored to be hoarding Wiis for holiday push

by Darren Murph posted Dec 10th 2008 at 5:16PM

It's hard to say if this rumor is true, but it's not behavior that Best Buy has avoided in the past. In fact, we vividly remember this exact same scenario happening in late 2006 -- the difference? That was the Wii's launch year. This is two years later. Two. Years. Later. Oh, and it's totally a futile effort, considering that Wally World sold through "tens of thousands" in about four milliseconds. Seriously people, there's a new Elmo to wage holiday war on, you have no business scrapping for a Wii 25 months after it hit US shores.*

[Via NintendoWiiFanboy]

*Image above is assumed to be Photoshopped, as we cannot find a single human to confirm ever seeing that many Wii consoles for sale in one location.

Analyst says Palm burning through cash like it's going out of style

by Chris Ziegler posted Nov 5th 2008 at 7:18PM

Stock downgrades are nothing new for the boys and girls at Palm, but analyst Tavis McCourt of Morgan Keegan (which certainly sounds like an important and all-knowing firm) has painted a particularly bleak picture of the company's books today -- so grim, in fact, that it set off a 20 percent drop in the company's market cap. Apparently the big concern is Palm's cash burn rate, which has left a cash reserve of just under a quarter billion dollars through a series of delays and setbacks that have been partially offset by moderate successes like the Centro. McCourt figures that'll be down to a mere $75 million by the time Palm OS 2 launches, and that's assuming they don't run into any more slips in the schedule. He notes that Bono can always just flip 'em a few more mil out of his Joshua Tree earnings, but it'll end up diluting existing shareholders' stakes, hence the massive drop in value today. No pressure, Palm.

iPhone roundup: Apple seeds 2.1 with new GPS features, possible copy/paste, also completely out of phones

by Ryan Block posted Jul 25th 2008 at 8:57AM

Your morning iPhone news fix: looks like Apple's seeded a beta of firmware 2.1 (not to be confused with the supposed 2.0.1 that will fix the myriad bugs and issues with 2.0), which may have some new GPS features that would imply turn-by-turn directions. No argument from us if Apple really is including new Core Location hooks for tracking your direction and speed, which would both be needed for doing proper GPS navigation.

Another bit which may or may not make it into 2.1 is copy/paste. We're still both hopeful and skeptical, but supposedly in the new version of the WebKit framework exists commands for "plugins," "copy," "paste," "cut," and some others. We can't confirm if these really exist (and if they do, we don't know how they've actually been there, or if they're simply holdovers from the desktop WebKit frameworks), so don't hold your breath. Also supposedly making its first appearance in the 2.1 beta code: Apple's push notification service.

Oh, and by the way, if all this has whet your appetite for the device, sounds like today will be a bad day to try and snag one. Apple's retail site shows absolutely zero iPhone availability in the US, so if you're jonesing then check out eBay or the seedy looking dude on the corner with the overstuffed trenchcoat.

Update: Looks like the stores have been updated in the last hour, many have stock. Game on!

[Thanks to Cameron and everyone who sent these in]

Read - Apple all out of stock
Read - New GPS features seeded?
Read - 2.1 getting background push?

AT&T, O2 post updates on iPhone 3G stock situation, promise they don't have a secret cache

by Chris Ziegler posted Jul 24th 2008 at 11:31AM

Conspiracy theories tend to run rampant when a phone (or any object of desire, for that matter) that's produced in absolutely enormous quantities dries up in retail locations. Are they really sold out? Is the retailer trying to work prospective buyers into a frenzied lather? Is the CEO sleeping on a bed fashioned of gilded iPhone 3Gs? The answer to that last question is very likely "yes" either way, but for their part, AT&T and O2 have both come out to promise customers that they're putting handsets out in retail just as quickly as they possibly can, with AT&T additionally noting that it's shipping out direct fulfillment orders on a "first-come, first-serve basis" with lead times currently running around two weeks -- in other words, "ship us some more frickin' phones, Apple." Seriously though, how's Apple going to come even close to keeping up with the next round of national launches when they're so woefully behind on the existing ones? And more importantly, if these execs would just sleep on queen-sized iPhone beds instead of king-sized ones, just imagine how many more happy customers we'd have out there?

Read - O2
Read - AT&T

iPhone 3G: The Waiting Game: Part II: Redux

by Paul Miller posted Jul 12th 2008 at 2:16PM

If you hadn't heard, hundreds of people were turned away from Apple Stores last night, iPhone 3G-less. However, being gluttons for punishment -- and having nothing to do over the weekend -- they've returned in droves to Apple Stores, with reports of lines longer than 200 people stretching out from The Cube, Apple Store Chicago (pictured) and even a store in Durham, NC. Apple offered up vouchers last night, at least at some stores, to anyone still waiting in line, so those folks can show up whenever and jump the line for a phone -- about 30 of them are lined up at The Cube currently. If you don't mind you can let us know in tips what the current status on the line / stock is at your local Apple or AT&T store is, and we'll try to keep track of this mayhem through the weekend. Good luck out there!

[Thanks to everyone who sent this stuff in]

Rumors swirl of Sanyo selloff to Matsushita / Panasonic

by Ryan Block posted Apr 27th 2008 at 9:20PM

Details are fuzzy right now -- and what details there are have been officially denied -- but the Japanese press is having a bit of a field day over the possibility of a Sanyo selloff to Matsushita / Panasonic. Apparently Goldman Sachs, Sumitomo, and Daiwa own some 67% of Sanyo's equity, and as Japanese paper Yomiuri reports, are looking at the possibility of transferring said equity to or otherwise forming a partnership with Matsushita. Again, both Matsu and Sanyo are denying the report as of now, so it's all still up in the air as the salarymen figure out whether to combine both companies to make a corporate entity larger than even Hitachi (which currently sits at the top of Japan's heap).

Update: Panasonic (aka, Matsushita Electric Industrial) just issued the following statement: "These reports are not based on any official announcement by MEI, and there is no fact that MEI is considering on the alliance." Not exactly a denial is it?

[Via Engadget Japanese, thanks Theirry]

Steve Jobs tells Apple employees and investors to "hang in there"

by Nilay Patel posted Jan 28th 2008 at 9:09PM

Although the market as a whole has taken a beating lately, the rollercoaster ride has been particularly harsh on Apple stockholders, who've seen their shares fall from a high of $202 earlier this year to just over $130 today. Of course, among the hardest hit was Steve himself, who has over 5M shares of the company -- which is why he may have sent out an email today advising employees to "hang in there." Calling the past week "a remarkable last few days," Jobs pointed to Apple's product pipeline, people, strategy and -- perhaps most importantly -- $18B of straight cash in the bank as reasons to have faith, and said that factors "larger than ourselves" were taking their toll on the stock price. That may be so, but it's still pretty unlike Jobs to comment on things like this -- we suppose taking a $377M hit on paper would probably cause us to say a few things as well.