Daily Archives: June 5, 2009

John Gapper

There has been a lot of discussion about the degree to which the new Palm Pre, which is launched tomorrow in the US, is a make-or-break-device for Palm. But it is also vital for Sprint, the much-derided network that will sell the Pre exclusively at least until the end of the year.

I went along to a Sprint Nextel event in Manhattan this morning to hear Dan Hesse, its chief executive, describe the Pre launch as its “coming out party”. Read more

John Gapper

Is Angelo Mozilo the Bernie Ebbers of the 2008 credit crisis? Mr Mozilo, the former chairman and chief executive of Countrywide, faces civil fraud charges and not criminal ones of the kind that led to Mr Ebbers, the former chief executive of WorldCom, being sentenced to 25 years in prison in 2005.

But the civil suit brought against Mr Mozilo by the Securities and Exchange Commission is a vivid portrait of alleged wrongdoing in Countrywide and of executives who are accused of knowing their lending practices at the height of the housing bubble were unsound. Read more