Nokia’s Profit Drop

Although Nokia made a profit of $166 Million this past quarter, they still suffered from a tremendous profit drop. Last year they raked in 1.6 billion the first quarter, meaning they had a 90% profit drop. We have to give it to them. While other companies have been picking up the pieces and try to hold on during this recession, Nokia is still making profits. Though their profits now may not be substantial like it was before, people should be ecstatic that they are not going bankrupt. Keep doing your thing Nokia!

Blockbuster on its Deathbed

For years, Blockbuster has been hurting when compared to Netflix or being able to rent a movie at your local grocery store for $1.00. Truthfully, who needs to rent a movie for more than the day they will watch it?

Blockbuster says that they are now in a position where they are uncertain if the Blockbuster empire could still exist in today’s recession. If Blockbuster was to close their doors, more people would be laid off. I hope thing get better for Blockbuster, after all, I did rent some of my favorite video games there when I was just a young lad.

Nokia Cuts 1,700 Jobs

Nokia just announced that they will cut 1,700 jobs in the corporate development and global functions department. Nokia says that the cuts are a result of the demand for their products. Lets just hope that the people losing their jobs can find something quick!

Aruba Networks Quarter Loss Widens

Forbes has just put out this press on Aruba, and it goes a little something like this:

“Wireless networking technology company Aruba Networks Inc. said Wednesday that its net loss widened in its fiscal second quarter, hurt by stock-based expenses and restructuring charges.

For the period ended Jan. 31, the company posted a loss of $6.8 million, or 8 cents per share, compared with a year-earlier loss of $3.5 million, or 4 cents per share.

Special charges in the quarter included $6.1 million in stock-based expenses, $1.2 million in amortization expense of acquired intangible assets and a $1.4 million restructuring charge.

Without the charges, adjusted net income came in at 2 cents per share, up from a penny a year ago, the company said.

Revenue grew 17 percent to $47.7 million from $40.6 million.

Analysts polled by Thomson Reuters expected, on average, revenue of $45.5 million.

Following the issuance of the report of results, Aruba shares gained 32 cents, or 12 percent, to $3.08 in after-hours trading. In the regular session before the report, the stock fell 12 cents, or 4.2 percent, to close at $2.76.”

It may seem from other press releases that Aruba is increasing with revenue, but they are simply stuffing the channel. Next quarter will be dismissal unless more partners come onboard.

Staying Up on the Latest Technologies

From new phones to the latest laptop released, technology continues to push out an arsenal of products for their consumers. Is it time for us impulse buyers to really stop and just enjoy what we have as of late? Don’t get me wrong, I like to have the latest and greatest in items, but I’m still running on a Blackberry Curve. I guess my personal addictions have come to a stop or pause due to the economic crisis at hand.

I’m still fairly young, but I have never seen anything like this. It just dawned on me that this recession is really serious. I remember learning about the Great Depression and a bunch of other history lessons in my U.S. History classes, but I never saw myself going through a recession. Perhaps I was ignorant of anything that happened before this recession, but all I know is that I FEEL IT. From pay cuts to budget cuts to cut down on consumption, I see it first hand.

So as I write this, I know I blog about the randomness of gadgets, cars, videos, but I truly urge people to consume wisely, save wealthy, and be smart. Just determine the difference of “needs vs. wants” and it will show you what really is meaningful. If you have the money to spare, by all means do as you please, but if you are on a budget and you still want the latest gadget, wait until we are ouf of this hell hole we call a recession….or get a second job, third job, do what you need!

Wall Street Fighter 4

This is just comedy! Take my favorite video game of all time, add in the big companies and the economy crisis, and you have “Wall Street Fighter 4.” The depiction of the characters and the use of the names is pure genius. Great Job

Cisco cuts 2000 employees?

Taken directly from http://www.networkworld.com/community/node/38237

 

We all know the story, recognize the layoff dance by now, and Cisco is up on the floor gyrating away. First comes the hiring freeze – in Cisco’s case, reported on in the press in November. Then comes the little tweaks, such as cutting a mere 129 jobs in Richardson, Texas — a facility serving the broadband telephony market. Then the hemming and hawing, which happened at Cisco’s analyst conference call last night. Cisco is giving every indication that it is heading for layoffs, but if you are looking for a silver lining, maybe it is this: Internetnews.com is reporting that the next round of cuts will be modest, as part of a normal restructuring in which perhaps 1,500 to 2,000 job will get the kibosh out of Cisco’s total current headcount of 67,318.

At the same time, remember that Cisco CEO John Chambers said in December that cutting the fat from Cisco’s payroll would not be done in small steps. If it happens, he promised that it would be another one-time massive cut (and associated write-off) like seven years ago during the previous downturn, where Cisco laid off 8,500 employees – 18% of its workforce – and announced a $2.2 billion inventory write-off, says the TechPulse360 blog.

Given that Cisco’s stock price has been stagnant for years, and all the other IT companies are doing it, do you think it serves Cisco, or hurts Cisco, to announce a layoff at this time?

Motorola in a loss for $3.6B

After the extensive layoffs, motorola announced that it lost $3.6 billion due to falling device sales. Hopefully Motorola’s new devices will bring them up to speed. Failure to do so would result in not seeing them around in 2010. Good Luck Motorola.

Sony Closes Japanese TV Plant for Restructuring Efforts

Sony has announced that they will be closing down one of the two Japanese TV plants and get rid of 2,000 domestic full-time job workers. The purpose is to revive their electronics business.

For the first time in my life, I’m seeing how a recession could really hurt companies. Or maybe we were in a recession when I was real young, but this is just crazy. A bit scary as well. Hopefully things get better in the next few months! Cross your fingers everyone!

Bose Will Cut 10 Percent of Workforce

Bose, manufacturer of speakers, ipod docks, and a bunch of other glamorous items, has just announced that they will cut 1,000 workers . This is roughly 10% of their workforce. The job cuts will take place all over, even in their manufacturing sector. Again the economy is killing a lot of companies.