Showing posts from October, 2008

Change Managment in a Downturn

We're planning important changes:
We will introduce new front-end playersA new service design will be introducedWe offer new modernized servicesWhat's the next big thing?
Business growth doesn't support new products and innovationNow is the time to differentiateNew people and new products
Designing the Service of the futureImplementing the necessary organizational changesFinancing short and long term transformationGrowth is necessary for us
We've decided to growWe need new talented peopleWe've to move fast from present to tomorrow's structureThe challenge is
We've to be decisiveWe've to implement the plansWe've to move fastWe've to maintain a good positive cash-flowWhat else?
We need our customers support and commitmentIt will take hard workWe've a good infrastructure to rely onHere are some stories about startups
Arctic StartupSlush HelsinkiWhat does Maria Jokelainen say? / World - Data confirm UK on brink of recession

Financial Times World reports what shouldn't be big news to anyone. The Asian and European stock markets have been going down. There are troubling news from the industrial sector.

ToyotaSamsungSonyVolkswagenXerox / World - Data confirm UK on brink of recession: "The UK economy shrank by 0.5 per cent, more sharply than expected in the three months to September, official data released on Friday showed – the first official confirmation that the UK is entering a recession.

Weaker service industries, construction and production output drove the deceleration in growth, the Office for National Statistics said. Manufacturing made the single largest contribution to the slowdown, falling 1.0 per cent in the quarter.

Banking data have shown a fall in lending for new homes and businesses and last week, Britain reported a 0.5 per cent rise in unemployment in September to 5.7 per cent, the biggest one-month rise since 1991."

Yahoo Layoffs Expected to Hit This Week

Google is hiring new people, Yahoo is moving in different direction. Google presented good results for the third quarter despite the financial crisis. Yahoo is feeling the pain. What explains the difference? Google is 10 years old. Yahoo is much older. Experience doesn't count.

Yahoo Layoffs Expected to Hit This Week: "Yahoo started out the year with layoffs, and it is going to end the year with more. The layoffs have been expected ever since Yahoo hired hatchet men from Bain & Co. to come help with the downsizing. The exact number of layoffs is still not known—between 1,000 and 3,000 are the numbers being discussed. During its earnings conference call on Tuesday, Yahoo is expected to announce how many people it will let go. In addition, operating budgets across the board are expected to be cut 15 percent.

In January, Yahoo laid off 1,000 people, and all year it has been suffering from a major drain of talent. But it still has plenty of employees—about 14,000. Getting rid o…

Buffett says 'Buy American' - Yahoo! News

What should we do in Finland? Would it be time to buy into innovative Finnish SEMs. There is plenty of talent, knowledge and inventiviness out there in the woods. But these innovators will never come out and become international success stories if we don't invest money and support in them.

Buffett says 'Buy American' - Yahoo! News: "NEW YORK (AFP) – Warren Buffett, the world's richest man according to Forbes magazine, said Friday in a newspaper commentary that he is buying US stocks even though the American economy is in a 'mess'.

Buffett, 78, who has become known as the 'Oracle of Omaha' because of his fortune building skills, said he has been buying into US companies even as 'fear spreads'.

'The financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher,' the head of Berkshire Hathaway Inc conglomerate wrote in the Ne…

How Cisco is recruiting with video

Cisco has a lot of outside work clubs. There are so many people there. So many talents.

Cisco Recruiting Video
is painting a rosy picture of a good company.

We could do a lot more with video presentations.

I placed this video here to underline the need to produce our own videos and podcasts.

All Eyes On Google This Week

Michael Arrington at TechCrunch is writing about Google: present and tomorrow. Yesterday Google was featured on Finnish television. The tv-program said, "Google is ten years old and it has a stock market value of $160 bn." I didn't check the present value but we'll know much more tomorrow about the company that says, "Don't be evil!"

"Don't be evil" is the informal corporate motto (or slogan) for Google,[1] originally suggested by Google employees Paul Buchheit[2] and Amit Patel[3] at a meeting. Buchheit, the creator of Gmail, said he "wanted something that, once you put it in there, would be hard to take out," adding that the slogan was "also a bit of a jab at a lot of the other companies, especially our competitors, who at the time, in our opinion, were kind of exploiting the users to some extent."

All Eyes On Google This Week: "Google, whose stock is down 45% this year, announces third quarter financial results to…

Good Times: Rest in Peace | ArcticStartup

Learned about this slideshow and blogposting through Twitter and Vesterinen. It will be hard for SMEs to get funding and financing for some time.

vesterinen Good Times: Rest in Peace
from twitterfeed

Good Times: Rest in Peace | ArcticStartup: "The recent weeks’ downturn in the global economy has dramatically tightened the availability of funding for companies, not only startups but large companies alike. The downturn that started from the US with the uncovering off the sub-prime “fraud” has echoed its effects to all corners of the world as connections between financing houses begin to unravel.

Sequioa Capital, one of the most famous startup financing houses in the US, has held a secret meeting earlier this week. A slideshow from the meeting has fled to the public unraveling the contents of the meeting - short and long term scenarios for the world economy. The contents of the document are not very positive. If the name of the presentation …

OC3 Technology, Inc.

OC3 Technology, Inc.: "OC3 Technology is committed to assisting small to medium sized enterprises with identifying and successfully implementing best of breed software, systems and business processes.

Small to Medium sized businesses face unique challenges in their efforts to grow. The foremost of which is minimal resources in the form of time, people and infrastructure. Heavy lifting for most growing businesses.

OC3's mission is to find ways to use our collective knowledge and experience in business process and information systems to act as a lever for it's clients."

Helge: Is there a relationship to biotechnology? I've to read the web pages.

Morgan Stanley Under Assault - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times

Morgan Stanley Under Assault - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times: "The trouble is, Monday is a bank holiday in both the United States (Columbus Day) and Japan (Health and Sports Day), so the transaction cannot close until Tuesday. This is frustrating to many inside Morgan Stanley, who have decided they just have to stomach a full-on assault on their stock until the deal is done, and perhaps even see the shares dip into the single digits."

Helge: What will happen during the weekend?

We’re Not Rock Stars Anymore | How To Split An Atom

Hard times might hit the Silicon Valley. Startups will find it difficult to rally for money. Cash flow is going to be very important for those who like to survive. Some experts think that the Web 2.0 bubble burst can be worse than the crisis 2001.

We’re Not Rock Stars Anymore | How To Split An Atom: "The $15 Billion dollar question is whether tech (ahem — consumer web applications) are recession proof. One of the nice things about being in an industry that traditionally doesn’t produce revenue and relies heavily on the advertising industry, venture capital and black magic to keep it afloat is that you don’t spend a great deal of time worrying about consumer spending.

You do, however, start to care when all those ad dollars start running dry. Combine that with the fact that the traditional sentinels of technology — companies like eBay, HP and Amazon are starting to lay people off and the fact that we haven’t seen an IPO to speak of in 2 quarters and all of those “turn your a…

Shiller, R.: The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It.

How well do we understand the subprime problem? Robert Shiller would like to see a renewal of the institutional foundations of the financial system.

Shiller, R.: The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It.: "The subprime mortgage crisis has already wreaked havoc on the lives of millions of people and now it threatens to derail the U.S. economy and economies around the world. In his trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response--a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy.

Shiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bu…

On Wall Street, Reassurance Before the Fall - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times

Don't show up with a happy face in the public. It might indicate that your company is in deep trouble.

On Wall Street, Reassurance Before the Fall - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times: "Many chief executives of troubled companies put on a happy face for the public — right before their companies go off a cliff, Andrew Ross Sorkin notes in his latest DealBook column.

These efforts to bolster confidence, he writes, have become especially conspicuous amid the current financial crisis — with the C.E.O.s of firms like Bear Stearns, Lehman Brothers and most recently Wachovia, offering comforting words before the fall.

Are these assurances purely disingenuous or just a smart assessment of how quickly rumor can turn into a self-fulfilling prophesy?

Either way, says Mr. Sorkin, happy-talk executives put themselves in legal jeopardy. And when
when we start seeing pictures of C.E.O. perp walks, the crime, he says, won’t be theft or some other kind…

InternetNews Realtime IT News - Nokia Takes On Apple With Touch and Tunes

The new Nokia Xpress Music phone is now available. It's a touch screen mobile phone.

InternetNews Realtime IT News - Nokia Takes On Apple With Touch and Tunes: "Nokia took a few swings at Apple's iPhone and iTunes service today, with a one-two punch consisting of its new touchscreen-based, music-centric smartphone and a free music download service.

During the unveiling of both the new 5800 XpressMusic phone and the 'Comes With Music' service today at a London launch event, the world's largest phone maker also seized the opportunity to highlight the operating system underlying its newest device. The 5800 XpressMusic is built on the latest version of Nokia's (NYSE: NOK) S60 Symbian platform, and serves as a indication of some of the advanced features the company expects to deliver through the OS."