newcorporationforyou.net

Friday, August 18, 2006

Web.com, a web-hosting and online services company, has released its second quarter financial results and associated statements – and it’s clear that the company has experienced both the ups and downs of executing on its goals.

On the upside, the company achieved an industry-first achievement of securing a non-exclusive license agreement with Hostopia.com Inc. last month. The agreement granted Hostopia rights to two of Web.com’s patents over five years on a non-transferable basis. The specific licensed patents were U.S. Patent numbers 5,680,152 and 6,789,103 and broadly cover methods for website building and web hosting control panels. Importantly for revenues, the license agreement states that Hostopia will pay Web.com a royalty equal to 10% of their gross U.S. retail revenues for five years.

On the downside, the company failed to deliver on the expected and announced acquisition of Houston-based WebSource Media – a business offering “easy and affordable built-to-order websites”. The announced acquisiton was to have added about $9 million in annual revenue to Web.com.

However, according to published reports from Web.com, the company filed to rescind its acquisition of WebSource media just about one month after the announcement. This action was taken after the Federal Trade Commission filed a sealed action in the United States District Court for the Southern District of Texas against WebSource Media, L.L.C. and its members – alleging unfair and deceptive acts and business practices prior to the acquisition.

In a press release issued by Web.com, President and CEO Jeff Stibel discussed the effects of the rescinded acquisition on the second quarter resutls, “Web.com continued to drive subscriber growth across its core website and web services plans by refining our sales and marketing efforts and working closely with strategic distribution partners. While we had unfortunate news about an acquisition we made during the quarter, the company has moved on and is working on further solidifying its position as a leader in the industry.”

On the financial side of the report, Web.com reported that total revenues for the quarter were $12.1 million, down from $12.3 million in the first quarter of 2006. The second quarter marked the last quarter of recognizing Verizon revenues (a deal that was initially cancelled in December 2004 and terminated in the second quarter of 2006).

On the organic customer acquisition side of the equation, the company reported that net subscribers totaled approximately 148,000 for the quarter, down from approximately 149,000 in the first quarter of 2006. The reduction in the second quarter as compared to the first quarter includes the loss of approximately 3,200 Verizon subscribers. Excluding the loss of Verizon subscribers, the company added approximately 1,600 subscribers in the quarter.

Saturday, March 7, 2009

After almost two months of delay, NASA has set March 11 as the launch date for Space Shuttle Discovery. On February 22, NASA had stated that they indefinitely delayed the launch of Space Shuttle Discovery, which was originally scheduled for takeoff on February 12. Launch was then further delayed until February 25 before being delayed indefinitely on February 22. NASA cited the need for additional time to evaluate the shuttle’s hydrogen fuel flow control valves.

Liftoff is set for nighttime on Wednesday, March 11, at approximately 9:20 p.m. (EST) from Launch Complex 39A in Cape Canaveral, Florida. The official countdown to launch will commence Sunday, March 8.

“The team came through, worked hard and was efficient. It’s time now to step back and think of everything else we need to watch before launch on the 11th. There’s no better team than this one and I thank them for putting the right analysis together,” said Bill Gerstenmaier, associate administrator for Space Operations at NASA.

NASA wanted to perform additional tests on the valves which control the amount of hydrogen fuel pumped into the external tank when the shuttle is taking off before making a decision to launch. When Space Shuttle Endeavour went into space in November 2008, one of the valves broke. NASA fears that if one breaks off on this mission, then it could damage the outside of the shuttle.

The current scheduled mission, STS-119, is set to fly the Integrated Truss Structure segment (“S” for starboard, the right side of the station, and “6” for its place at the very end of the starboard truss) and install the final set of power-generating solar arrays to the International Space Station. The arrays consist of two 115-foot-long arrays, for a total wing span of 240 feet, including the equipment that connects the two halves and allows them to twist as they track the sun. Altogether, the four sets of arrays can generate 84 to 120 kilowatts of electricity – enough to provide power for more than 40 average homes.

Commander Lee Archambault will lead Discovery’s crew of seven, along with Pilot Tony Antonelli, and Mission Specialists Joseph Acaba, John Phillips, Steve Swanson, Richard Arnold, and Japan Aerospace Exploration Agency astronaut Koichi Wakata.

Friday, January 12, 2007

The U.S. armed forces detained five Iranians working at a “liaison office” located in Erbil, Iraq before dawn on Friday. Sources said that the U.S. forces first landed their helicopters around the building, then broke through the office’s gate, disarmed the guards, confiscated some documents and certain objects, arrested five suspected terrorists, and then left for an undisclosed location.

However, there was no raid on the Iranian Consulate General as earlier reported. Pentagon spokesman Bryan Whitman told Agence France-Presse that the building raided was “not a consulate or a government building”, which appears to be confirmed by the Iraqi foreign minister, Hoshyar Zebari, who said the Iranians were working at an office that had government approval and was in the process of being approved as a consulate, but was not a Consulate nor the Iranian Consulate General. The US is strategically insisting that they raided a “liaison office” instead of a Consulate to avoid being found in violation of Article 36 of the Vienna Convention on Consular Relations.

Russian Ministry of Foreign Affairs Mikhail Kamynin said that the raid was absolutely unacceptable and was a violation of the Vienna Convention on Consular Relations. The Kurdistan Regional Government also expressed their shock and disapproval of the raid.

On Thursday’s hearing on Iraq, Senator Joseph Biden (D-Delware), chairman of the Senate Foreign Relations Committee, told Secretary of State Condoleezza Rice that the Bush Administration did not have the authority to send U.S. troops on cross-border raids. Biden said, “I believe the present authorization granted the president to use force in Iraq does not cover that, and he does need congressional authority to do that. I just want to set that marker.” After the meeting, Biden sent a follow-up letter to the White House asking for an explanation from the Bush Administration on the matter.

On Thursday morning, Iran’s foreign ministry official sent a letter to Iraq’s foreign ministry asking Iraq to stop the Bush Administration from interfering with Iraq-Iran relations, and has protested the raid on its liaison office. The official said, “We expect the Iraqi government to take immediate measures to set the aforesaid individuals free and to condemn the U.S. troopers for the measure. Following up on the case and releasing the arrestees is a responsibility of primarily the Iraqi government and then the local government and officials of the Iraqi Kurdistan.”

Thursday, April 15, 2010

Humanitarian aid groups and Chinese military forces are beginning rescue operations in western China after a heavy 7.1 magnitude earthquake struck the region on Wednesday, that reportedly killed over 600 people and injured almost ten thousand.

The quake, which was centered around the remote town of Yushu, was largely destroyed by the heavy temblor, which occurred early in the morning as residents were waking up. The official death toll stands at 617, while 9,980 more were injured and an additional 313 reported as missing. The Chinese ministry of civil affairs reports that 15,000 houses had collapsed and 100,000 people – almost the entire population in the area – remain without homes.

The plateau where the earthquake hit is frequently visited by tremors; however, there are rarely many casualties due to its remoteness and small population. However, in May 2008 a heavy 8.0 magnitude earthquake struck near Sichuan foothills, killing 80,000 people.

Rescue efforts are underway, but impeded due to the area’s remoteness and landslides, which have blocked many roads in the area. Also a factor is the high altitude at which the area is located – about 4,000 metres above sea level (13,000 feet) – which could adversely affect rescue crews not used to being in such thin air. Sniffer dogs, for instance, who aren’t accustomed to working at high sea levels, could have a harder time detecting living people buried beneath rubble.

Power and telephone lines were also downed by the temblor, affecting communication, although the authorities commented that electricity and phone links have been repaired to tens of towns.

China’s state media reports that troops garrisoned in the Yushu county, with help from locals, have already rescued over a thousand people buried beneath debris.

Residents and troops garrisoned in the Yushu county have managed to pull out more than 1,000 people alive, according to Chinese state media. They are using shovels and bare hands.

Further exacerbating the situation is the weather: temperatures are freezing, and meteorologists predict sleet and wind to come within the next few days. Many people were forced to sleep outdoors, protecting themselves from the cold in blankets, or spending the night in vehicles.

Pierre Deve for the non-governmental organisation Snowland Service Group, was present in Yushu. He described the damage to Times Online, saying: “There are corpses everywhere on the street. They don’t have time to deal with them. There is a real need for medicine, for food, for water and for doctors. People are terrified that there will be another earthquake. They are also afraid that a dam that has been cracked will burst and flood the town.”

A local doctor, Karma Sherab, also commented on the problems the area is facing: “Most of the hospitals have collapsed and others had become dangerous. The only thing we can do is to clean the wounds in a simple way or simply amputate instead of curing.”

Chinese president Hu Jintao, meanwhile, said that he would be dispatching over 5,000 rescuers and soldiers to the scene of the disaster; the government has pledged over US$29 million worth of aid. Hu described the quake as being a “huge calamity”. He is also shortening his visit to a summit in Brazil to return to his country. “That is why I decided to bring forward my return to China,” he said from Brasilia.

Premier Wen Jiabao has visited Yushu to oversee relief work; he decided to delay a visit to southeastern Asia due to the disaster. “As long as there is the slightest hope, we will make efforts that are 100-fold. Your disaster is our disaster, your suffering is our suffering.”

The head of China’s disaster relief department, Zou Ming, says that 120,000 articles of clothing, 120,000 quilts, food, and close to 40,000 tents were to be sent to the disaster zone; he encouraged people to donate money to assist in longer-term relief work.

Meanwhile, some foreign countries have offered financial help; among them is Japan, which has pledged over one million dollars to disaster victims. The United States also said it is “ready to assist” if China requests international aid.

Wednesday, March 26, 2008

The popular American soap opera The Young and the Restless, currently the reigning Emmy Award-winner for best daytime drama, celebrated 35 years on the air Wednesday.

The 35th anniversary also comes after the series, known colloquially as Y&R, marked its 1,000th straight week as the highest-rated soap opera in a daytime slot. In addition to keeping the #1 spot every week since December 1988, Y&R has also been the top-rated soap in the African-American demographic since 1991.

A trend-setter since the beginning, Y&R relied on character-driven storytelling, accentuated with understated sexuality from its cast, which at that time was mostly young, in order to bring in teenage and twentysomething viewers who were ignored by soap producers and networks up to that time. These traits immediately set Y&R apart from other soap operas, and other soaps have since mimicked Y&R’s formulaic approach to offering something for everyone, especially younger viewers.

Since premiering on March 26, 1973, Y&R has become a worldwide cultural institution in its own right, racking up an impressive 100 Emmy Awards between the writers, producers, cast and crew since 1974. The show has aired in over 100 countries, including Australia, New Zealand, France, Germany, Italy, and Turkey, and reaches a worldwide audience of ten million daily. So far-reaching was Y&R’s appeal that Romanian gymnast Nadia Comaneci chose the serial’s theme song as accompanying music to her floor exercises at the 1976 Summer Olympics. In Australia, where Y&R has aired since 1974, the show was canceled by the original network that aired it in 2007, prompting a widespread fan backlash in that country. It was quickly moved to a pay channel.

Over the past 35 years, countless characters, marriages, divorces, births, deaths, and every joy and trauma in between have visited the residents of Genoa City, where Y&R is set. To commemorate the milestone, Mike Halterman from Wikinews interviewed three actresses who have played long-running characters on Y&R, and asked them to share their memories. All three responded to questions about what being on Y&R means to them, what their favorite storylines were, what they perhaps would have wanted to do all over again, and what they’d love to tell their fans directly.

Below are portions of all three interviews.

[edit]

Friday, April 22, 2005

“Those who are in power are to be held responsible, and that includes me,” Canada’s Prime Minister, Paul Martin, told his nation in the first live address by a PM in ten years. “If so much as a dollar is found to have made its way into the Liberal Party for ill-gotten gains, it will be repaid to the people of Canada.” [1]

Conservative Leader Stephen Harper described Mr Martin’s broadcast as “a party leader playing for time, begging for another chance”.

“After the Prime Minister has shut down the democratic process here … my guess is there will be more people that are calling for some accountability, perhaps in the form of an election,” New Democratic Party (NDP) leader Jack Layton said.

A series of opinion polls show that in an election held today, a minority Conservative government would probably result, reports The Australian.

Friday, May 7, 2010

US stock markets saw an unusually turbulent day yesterday, with the Dow Jones Industrial Average (DJIA) losing almost a thousand points in thirty minutes, although later recovered somewhat to end the day with a smaller loss.

The DJIA had its worst fall since 1987, a drop of 9% or 998.50 points, before going back up a bit to close with a loss of 3.30% or 347.80 points to a level of 10,520. The Nasdaq fell 82.65 points or 3.44%, and the Standard & Poor’s 500 index dropped 3.24% or 37.75 points.

According to some reports, the quick loss happened because a trader mistyped an order to sell a large amount of stock, causing the stock price to go down enough to trigger orders to sell elsewhere in the market. (By the following day this theory had been abandoned.) Other reports suggested that the biggest markets “slowed” their executions when it became clear that computerized errors were occurring; as a result, the vast majority of buy orders were briefly withdrawn, allowing the free-fall to continue for several minutes.

Stock for the Procter & Gamble company fell almost 37% during the sell-off, about 75 minutes to the closing bell. An investigation started into whether any erroneous trades happened.

Procter & Gamble spokeswoman Jennifer Chelune spoke about the incident: “We don’t know what caused it. We know that that was an electronic trade […] and we’re looking into it with Nasdaq and the other major electronic exchanges.”

The Reuters news agency reports that, at their height, the losses cause equity values to lose $1 trillion.

Some stocks saw extreme, but short, changes; for instance, consulting firm Accenture saw its shares plummet from about $42 to four cents, although it later rebounded to close the day at $41.09.

Meanwhile, oil prices also dropped to lows not reached since February. Benchmark crude was down $2.86 to $77.11 in New York.

“The potential for giant high-speed computers to generate false trades and create market chaos reared its head again today,” said Delaware senator Edward Kaufman. “The battle of the algorithms — not understood by nor even remotely transparent to the Securities and Exchange Commission — simply must be carefully reviewed and placed within a meaningful regulatory framework soon.” Kaufman, along with senator Mark Warner from Virginia, called on Congress to investigate the cause of the mass sell-offs.

Nasdaq, meanwhile, says that all trades of stocks at prices 60% higher or lower than the preceding price at or around 2.40 PM “or immediately prior” are to be cancelled; it noted that it coordinated its move with the other exchanges.

Chief investment officer at Fort Pitt Capital Group Charlie Smith said: “I think the machines just took over. There’s not a lot of human interaction. We’ve known that automated trading can run away from you, and I think that’s what we saw happen today.”

In the past three days, the DJIA has lost 631 points, or 5.7%, mainly over concerns about Greece’s ailing, debt-burdened economy. Peter Boockvar an equity strategist for Miller Tabak, commented: “The market is now realizing that Greece is going to go through a depression over the next couple of years. Europe is a major trading partner of ours, and this threatens the entire global growth story.”