Daily Archives: April 30, 2009

Chris Nuttall

After the hype, a supremely negative take on the prospects of the eagerly awaited Palm Pre smartphone and the company itself from Collins Stewart analyst Ashok Kumar today.

Mr Kumar says his supply-chain checks indicate that “due to multiple hardware and software issues, Palm has dramatically reduced its production orders” with its manufacturing partner. 

  • Time Warner moved closer to spinning off AOL, while at the same time reporting a 14 per cent decline in quarterly net profit due to a drop in online and print advertising. Disposing of AOL would untangle what many consider one of the worst mergers in US corporate history, one that has lost shareholders more than $100bn.
  • Google lost its fourth high-profile executive since March, with the departure of display ad chief David Rosenblatt, the former chief executive of DoubleClick, which Google acquired last year. Mr Rosenblatt reportedly doesn’t have another job lined up yet, but is aiming to leave Silicon Valley and move to New York.

 

Richard Waters

When I caught up with Bill Hambrecht on Wednesday, he certainly wasn’t overflowing with sympathy for venture capitalists (the NVCA just launched a campaign to counter what it claims are structural obstacles that discourage young companies from seeking a listing on Wall Street, hurting VC returns.)

Asked why there weren’t more IPOs even before the financial crisis took hold, the veteran Silicon Valley financier had this to say: “I think what the [venture capitalists] really don’t like are the valuations.”