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$860 Million In Fines Handed Out For LCD Price-Fixing

Soulskill — Sat, 12 Dec 2009 02:55:00 +0000

eldavojohn writes "Six companies have pleaded guilty to worldwide price fixing of Thin-Film Transistor Liquid Crystal Displays from Sept. 14, 2001, to Dec. 1, 2006. For violating the Sherman Act, the companies have agreed to pay criminal fines of over $860 Million. In addition, nine executives have been charged in the scandal. The pricing scam affected some of the largest companies at the time, including Apple, HP and Dell. (If you bought a TFT-LCD from them in that time frame, you may be one of the victimized consumers.) From the DOJ release, 'According to the charge, Chi Mei carried out the conspiracy by agreeing during meetings, conversations and communications to charge prices of TFT-LCD panels at certain pre-determined levels and issuing price quotations in accordance with the agreements reached. As a part of the conspiracy, Chi Mei exchanged information on sales of TFT-LCD panels for the purpose of monitoring and enforcing adherence to the agreed-upon prices.'"

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Company Trains the Autistic To Test Software

samzenpus — Thu, 10 Dec 2009 00:48:00 +0000

Aspiritech, a Chicago based non-profit company, has launched a program to train high-functioning autistic people as testers for software development companies. The company says autistics have a talent for spotting imperfections, and thrive on predictable, monotonous work. Aspiritech is not the first company to explore the idea of treating this handicap as a resource. Specialisterne, a Danish company founded in 2004, also trains autistics. They hire their workforce out as hourly consultants to do data entry, assembly line jobs and work that many would find tedious and repetitive.

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MySpace Buys and Then Takes Down Imeem

kdawson — Wed, 09 Dec 2009 06:55:00 +0000

Conchobair was one of several users letting us know that Myspace has snapped up free music streaming site imeem. Visitors to the imeem site are being sent to a MySpace redirect page, which states that they are "working to migrate your imeem playlist to MySpace Music." Currently there is no way to access imeem music or playlists or to make use of imeem apps on Android or iPhone. The AP reports that the deal was done for less than $1M — not bad for 16M subscribers — noting that the music startup was running out of cash. PC Mag notes: "Last week it was announced that Apple had purchased Lala, and now MySpace snaps up imeem. Are Pandora and Rhapsody next?"

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Comcast to Buy 51% of NBC, GE Goes After 49%

ScuttleMonkey — Fri, 04 Dec 2009 19:02:00 +0000

An anonymous reader writes to tell us that Comcast and General Electric announced a joint venture yesterday to control NBC Universal, with Comcast coming out with the controlling interest. Comcast's hopes seem to be on succeeding in a marriage of distribution and content, where Time Warner failed. "The deal was approved by the companies' boards, and is subject to regulatory approval. GE said it expects the deal to go through in the third quarter of 2010. Congress has already said it will hold a hearing to investigate whether Comcast will gain 'undue advantages' from the deal that gives it access to programming."

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Google Tries Not To Be a Black Hole of Brilliance

CmdrTaco — Thu, 03 Dec 2009 17:34:00 +0000

theodp writes "Google says it's declined to pursue awesome job prospects to avoid an over-concentration of brilliance at the search giant. Speaking at the Supernova conference, Google VP Bradley Horowitz said the company intentionally leaves some brainpower outside its walls: 'I recently had a discussion with an engineer at Google and I pointed out a handful of people that I thought were fruitful in the industry and I proposed that we should hire these people,' said Horowitz. 'But [the engineer] stopped me and said: "These people are actually important to have outside of Google. They're very Google people that have the right philosophies around these things, and it's important that we not hire these guys. It's better for the ecosystem to have an honest industry, as opposed to aggregating all this talent at Google."'"

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Calling Video Professor a Scam

kdawson — Sat, 28 Nov 2009 23:54:00 +0000

palmerj3 writes in to give some wider attention to a piece on Techcrunch today in which Michael Arrington reacts to Video Professor's desperate attempts to shut him up after he called Video Professor a scam in a piece syndicated by the Washington Post. As described by Arrington, the ways the company's site operates (differently depending on where a visitor comes from) are strongly reminiscent of the practices a Senate committee recently condemned. (Here is a detailed example of another, similar scam, from a not-naive victim. Video Professor's tactics sound even more deceptive.) Video Professor seems to react with belligerence, not to mention legal threats, towards any hint of criticism. Please share any direct experiences you have with this outfit.

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What the iPod Tells Us About the World Economy

Soulskill — Sat, 28 Nov 2009 17:15:00 +0000

Hugh Pickens writes "Edmund Conway has an interesting article in the Telegraph where he analyzes where the money goes when you buy a complex electronic device marked 'Made in China,' and why a developed economy doesn't need a trade surplus in order to survive. For his example, Conway chooses a 30GB video iPod 'manufactured' in China in 2006. Each iPod, sold in the US for $299, provides China with an export value of about $150, but as it turns out, Chinese producers really only 'earned' around $4 on each unit. 'China, you see, is really just the place where most of the other components that go inside the iPod are shipped and assembled.' Conway says that when you work out the overall US balance of payments, it shows that most of the cash for high tech inventions has flowed back to the United States as a direct result of the intellectual property companies own in their products. 'While the iPod is manufactured offshore and has a global roster of suppliers, the greatest benefits from this innovation go to Apple, an American company, with predominantly American employees and stockholders who reap the benefits,' writes Conway. 'As long as the US market remains dynamic, with innovative firms and risk-taking entrepreneurs, global innovation should continue to create value for American investors and well-paid jobs for knowledge workers. But if those companies get complacent or lose focus, there are plenty of foreign competitors ready to take their places.'"

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Apple Forced To Clean Up Its Fine Print

Soulskill — Sat, 28 Nov 2009 05:09:00 +0000

Barence writes "Apple has been forced to tidy up its online terms and conditions, at the behest of the UK's Office of Fair Trading. The company has redrafted its Ts & Cs so that it now accepts liability for faulty or misdescribed goods sold from its website or the iTunes store. Apple must also ensure that its conditions are 'drafted in plain or intelligible language' and that they 'do not potentially allow changes to be made to products and prices after an agreement is made.'"

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Facebook Stock Going Public?

samzenpus — Thu, 26 Nov 2009 01:33:00 +0000

zmaragdus writes "Facebook Inc. converted its existing stock holdings into different classes of stocks (Class A and Class B) designed to give certain shareholders more power than others. This has been typically done in an IPO of a company's stock to give important people (company founders, for instance) more clout in the actions of the company when stock is first offered to the public. While Facebook maintains that it does not plan to offer stock publicly in the near future, this restructuring is one of the critical steps in doing so."

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Senators Ask EC To Let Oracle-Sun Deal Go Through

kdawson — Wed, 25 Nov 2009 13:14:00 +0000

An anonymous reader writes "The European Union has managed to do something that US Presidents often find difficult: to make 59 US Senators from both sides of the aisle agree on something. A group led by John Kerry (D) and Orrin Hatch (R) has sent a letter to the European Union, asking it to wrap up the investigation of the Oracle-Sun merger and let the deal go through. Interestingly, the letter emphasizes the damage the delay and uncertainty are doing to Sun." The article paraphrases a Gartner analyst, who points out that the Senators' letter "comes from a US point of view and doesn't take into account how the EU operates."

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