After serving for 12 years as president and CEO of Internet2, the advanced networking consortium powered by educational and research organizations, Douglas Van Houweling is calling it quits and has asked the board to start looking for a replacement.
"[Our] shared investment has created a vital resource for our community," Van Houweling wrote in a letter to Internet2 members. "Building on that investment, I am confident that Internet2's largest contribution lies in the future. Working with all of you, I will do all I can during the coming transition to ensure that future."
Internet2 operates a national IP and optical network that supports over 10 million end users, most of which are located at various educational institutions, libraries, and museums. Under Van Houweling's leadership, Internet2 boosted its network infrastructure to 100G Ethernet, as well as implemented advanced technologies like multicasting and IPv6.
According to an anonymous source, Hector Ruiz, 63-year-old former chief executive officer of AMD, is the unnamed "AMD executive" government prosecutors allege provided information to a defendant in the Galleon insider trading case, Bloomberg reports..
Ruiz, who stepped down as AMD's CEO last year and now serves as chairman of chip spinoff Globalfoundries, hasn't been charged with any wrongdoing in the case, nor do prosecutors say he profited from insider trading. But he is accused of discussing with Danielle Chiesi, who is alleged to be part of the Balleon insider trading ring, timing of the chip factory's spinoff in September 2008, ahead of the announcement of the deal.
"You know, we're gonna shock the hell out of everybody," the AMD executive told Chiesi, according a transcript of the September conversation included in court documents.
If the anonymous source turns out to be correct, Ruiz would be the highest ranking executive involved in the case. Other defendants in the case include IBM executive Robert Moffat and Rajiv Goel, who helped direct investments at Intel.
From the first time we saw Borderlands, we were intrigued. By mixing a fast-paced first-person shooter with the procedurally generated weapon system of a loot-hoarding RPG like Diablo, and letting you play the game cooperatively with three of your pals, the kids at Gearbox have made a game we simply can’t wait to play. We went down to Plano, Texas to play the first three hours of the game and to chat with Gearbox CEO Randy Pitchford about what the future holds for PC gaming, why Steam is not an ideal method of distribution, and why Randy loves Wal-Mart.
"In general these models have not worked for general public consumption because there are enough free sources that the marginal value of paying is not justified based on the incremental value of quantity. So my guess is for niche and specialist markets ... it will be possible to do it but I think it is unlikely that you will be able to do it for all news," Schmidt said while addressing the Royal Televison Society Convention in Cambridge, England, via video link. Media mogul Rupert Murdoch had said in August that News Corp. websites may become paid by the middle of next year.
Stronger than expected demand for microprocessors has prompted Intel to raise its Q3 forecast from $8.1 billion to $9.2 billion, and the good news is they aren’t the only ones predicting better times ahead. Both HP and Dell are forecasting Q3 revenues to rise, though this news comes hot on the heels of disappointing year to date earnings.
On Thursday, Dell reported a 23 percent drop in Q2 profit, but still managed to beat the street estimates. CEO Michael Dell claims, “if current demand trends continue, we expect revenue for the second half of the year to be stronger than the first half”.Rival Hewlett-Packard reported a similarly depressing drop in profit of 19 percent for the first half of the year, but is also expecting the trend to reverse itself soon.
The PC Industry is expected to benefit from the economic stimulus package in China, as well as what appears to be the start of an economic recovery in the U.S. Windows 7 is also expected to help move PCs in the consumer sector, but businesses will likely put off upgrading for at least a year or more.
CEOs have drawn a lot of flak in recent times for their fat paychecks, forcing some CEOs to accept pay cuts. Oracle CEO Larry Ellison is the latest tech honcho to have his base salary trimmed down dramatically to $1. According to a regulatory document filed by his company on Friday, Larry Ellison will receive only $1 as his base salary during fiscal 2010, which began on June 1. The erstwhile richest man in the world is currently fourth on Forbes’ list of world’s most affluent people. Last year, he received a base salary $1 million, which only amounted to 1.2 percent of his total annual income. Ellison, who founded Oracle in 1977, owns a 22.7 stake in Oracle.
Many financial savants grabbed their crystal balls and went into hiding when the economy went into freefall. Now that there are signs of recovery, they are again gazing into their crystal balls with renewed hope. According to many of them, including IMF’s chief economist Olivier Blanchard, the recession is behind us.
Tech honchos now believe that the IT industry would lead the recovery. According to a survey conducted by KPMG, two thirds of the 130 CEOs that were surveyed believe the IT industry would recover quicker than the US economy. Furthermore, a vast majority of CEOs feel 2010 would bring glad tidings for their industry. One can expect lesser job cuts in the near future as more than two thirds of tech bosses are not too keen on cost cutting.
With the announcement of Craig Barrett's retirement in May, one of Intel's last links with the pre-PC era will vanish. Barrett's career at Intel started in 1974, when Intel was just seven years old and was introducing the first general-purpose microprocessor, the 8080. The 8080's descendents included the first 16-bit processor, the 8086, and the IBM PC's processor, the 8088. The IBM PC and its many descendants enabled Intel's rise to processor dominance.
Barrett became Intel's CEO in 1998, taking over for the legendary Andy Grove. Barrett's tenure as CEO saw the development of Intel's first Celeron economy CPU and high-end Pentium III processors, the introduction of the Pentium 4, diversification into communications chips, development of new Xeon and Itanium server processors, and the introduction of the Centrino portable chipset/processor technology.
During this period, Intel received formidable challenges from AMD's Athlon and Athlon XP, and frequently saw its processors beaten by AMD's processors in real-world performance tests. Barrett became chairman of Intel in 2005, and during his tenure as chairman, saw Intel retake the performance crown from AMD with the introduction of the Core 2 Duo, Core 2 Quad, and Core i7 processor lines.
Barrett, 70, is retiring at a time in which Intel, like other technology companies, is facing tough times, and announced last week that it's closing two fab plants in the US as well as three assembly test facilities in Malaysia and the Philippines, affecting over 5,000 employees.
What was the first Intel product you used? Was it a processor, motherboard, chipset, network adapter, or something else? Looking back at Barrett's long career, what do you think were Intel's biggest hits - and misses? Join us after the jump for your chance to tell all.
Given that Jerry Yang has been gone as long as he has, it’s nice that Yahoo’s Board has finally stepped up and named a new CEO. Who’s the new suit that’s going to fill the shoes? Carol Bartz, formerly of Autodesk.
Who is this Carol Bartz, one might ask? Well, according to Roy Bostock, Yahoo’s Chairman, “She is the exact combination of seasoned technology executive and savvy leader that the board was looking for, and we are thrilled to have attracted such a world-class talent to Yahoo. The board is united in its view that her energetic and decisive leadership style, coupled with a proven track record of driving growth, operational excellence and shareholder value, is exactly what Yahoo needs to get back on a path toward achieving its full potential.”
Her main challenge as new CEO will be turning around a struggling media company whose services are used by hundreds of millions of people. Ms. Bartz, we wish you the best of luck and we look forward to seeing what you do with the place!
Yahoo co-founder and chief executive Jerry Yang has spent the better portion of 2008 staving off a takeover attempt by Microsoft that threatened to go hostile, a decision that hasn't always been a popular one with Yahoo shareholders. Nor has it sat well with the 10 percent of employees facing a job cut by the end of the year. Now, just 18 months after stepping into the role of CEO, Yang has announced his pending resignation and will return to his role as Chief Yahoo once a successor is in place.
"All of you know that I have always, and will always, bleed purple," Yang wrote in letter to all Yahoo employees. "I will always do what I think is right for this great company. While this step will be an adjustment for all of us, I know it’s the right one. I look forward to updating you on this process as soon as the board has developments to share, and will continue to do everything I can to make Yahoo! fulfill its full potential."
No front runner for the position of CEO has yet emerged, but Yang did say the board will consider both internal and external candidates. Hired to help in the search is international executive search firm Heidrick & Struggles, with the overall effort being led by Roy Bostock, Yahoo's chairman of the board.
Does this change anything in terms of a takeover? Hit the jump and give us your prediction on where Yahoo goes from here.