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Inventec Appliances execs fail to disclose iPod order cuts, could face prison
Earlier this year, Inventec Appliances (spun off from Inventec Electronics) was raided as prosecutors began looking for evidence to support charges of alleged insider trading, and now it looks like nine of the firm's employees could be headed to the slammer. Taiwan's Banciao District Prosecutors Office "alleged that nine executives and one lower level employee failed to publicly reveal a steep drop in iPod orders until after they had sold off nearly $22.4 million worth of stock," and although the employees knew of the order cuts as early as January 19th, nothing was publicly revealed until mid-March. Purportedly, prosecutors "are seeking the stiffest penalties against the two top executives," and if the evidence sticks, we have all ideas that Inventec will be huntin' a new Chairman (and President, too) in the not-too-distant future.[Via TUAW]
TomTom and Garmin to build GPS handsets?
While TomTom and Garmin have been duking it out in court, a few big names have snuck in and unleashed a bevy of GPS navigation devices; chiefly, Nokia and their 330 Auto Navigation. So it's no surprise to hear that Garmin and TomTom are looking to reclaim some turf by getting in on some of that hot GPS on handset action. Of course, TomTom already has their SIM-enabled GO 715 navigator and works extensively with experienced handset makers Quanta and Inventec Appliance. More notable perhaps are those pesky "market sources" who say that Garmin is already in talks with Compal who we've seen dabbling in GPS-enabled devices for Via Michelin and others. The surprise here isn't that Garmin and TomTom are entering this burgeoning market, only that they haven't done so already.[Via NagiGadget]
