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01 Feb 2012 21:29

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Biz: Facebook’s SEC filing reveals the things they worry about most

  • one Facebook Mobile, unlike the normal web layout, doesn’t have ads built into the interface. Meaning as Mobile grows, ad revenue will suffer.
  • twoGame developer Zynga accounts for a whopping 12% of Facebook’s total revenue. Therefore, any trouble for Zynga is trouble for Facebook as well.
  • threeFacebook’s revenue grew by 88% last year, which they deem unsustainable. In short, that level of growth will slow down someday.
  • fourThey could be sued for copyright infringement due to content uploaded by their users; quite likely the reason they opposed SOPA. source
Posted by Chris Tognotti • 0 Comments • Permalink

01 Feb 2012 15:43

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Biz: New J.C. Penney CEO Ron Johnson on remaking the brand

  • I chose J.C. Penney because I think it’s the single biggest opportunity in American retailing. Inherently, department stores have significant advantages compared to all other retailers. Yet, our productivity is at the low end, and that just doesn’t make sense.
  • J.C. Penney CEO Ron Johnson • Remarks in an interview with the AP’s Anne D’Innocenzio. Johnson made news in the world of department store retail when he first took over, announcing a reduction in unique sales events coupled with a 40% across the board price cut. In this interview, he expands a bit on his plan for J.C. Penney’s future; he mentions his time with Apple frequently in the interview, as a reference point for the sort of modern imaginings that may be to come. It’s worth remembering that Johnson was the brain behind the Apple Store, the “Genius Bar” in particular, which we think says a lot about his insight on balancing design, efficiency and customer service in a retail setting. Apple just found their replacement for Johnson, John Brownett, but with the legacy he left there, we wonder how long it will be until they wish they had him back on board. source
Posted by Chris Tognotti • 0 Comments • Permalink

01 Feb 2012 10:08

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Biz: Pfizer recalls one million birth control packets over packaging error

  • An investigation by Pfizer found that some blister packs may contain an inexact count of inert or active ingredient tablets and that the tablets may be out of sequence. As a result of this packaging error, the daily regimen for these oral contraceptives may be incorrect and could leave women without adequate contraception, and at risk for unintended pregnancy.
  • A statement from Pfizer • Discussing their recall of one million packets of birth control medication. Phrases you don’t want to see in a story about a recall of birth-control medication: “At risk for unintended pregnancy.” The problem, described by the company as a “mechanical and operator visual inspection systems failure on the packaging line,” has reportedly been corrected already. But yeah, that’s kind of a big mistake. source
Posted by Ernie Smith • 0 Comments • Permalink

31 Jan 2012 15:39

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Biz: Petition demands humane work practices in production of Apple products

  • 35,000 sign petition for an “ethical” iPhone source
  • » And that’s just the first 24 hours: Apple’s production chain in China has gotten a ton of ink lately, exposing the dire workplace conditions and inhumane treatment that are present in the production of the iPhone (author’s note: in the interests of full disclosure, I’m an iPhone user, and am thus as guilty of neglecting these implications as anyone). In response, a petition has been circulating urging Apple to install hard and fast regulations for how their manufacturing workers are treated in advance of the release of the iPhone 5. Says the petition: “Can Apple do this? Absolutely. According to an anonymous Apple executive quoted in The New York Times, all Apple has to do is demand it, and it’ll happen.”
Posted by Chris Tognotti • 0 Comments • Permalink

29 Jan 2012 21:05

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Biz: Why does the FDA keep seizing imported orange juice?

  • 14% of all foreign orange juice is apparently tainted source
  • » The seized OJ contained a banned fungicide: The Food and Drug Administration has had to step up its orange juice-seizing lately, because a common fungicide called carbendazim, which, mind you, is safe in small amounts, is showing up in some of the imported orange juice. (Initially, this was reported to be a blanket ban, though the FDA says they’re only testing orange juice.) Here’s the kicker, though, from FDA spokeswoman Siobhan DeLancey: “We don’t feel that this is a safety problem. This is more of a regulatory issue.” So basically, they’re seizing a crapload of OJ because it’s got a chemical that is apparently being poorly regulated. You would assume it’s dangerous to consumers, but it’s not. Wait … we’re not following this.
Posted by Ernie Smith • 0 Comments • Permalink

28 Jan 2012 20:53

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Biz: Greedy investment bankers won’t carve Facebook’s IPO too heavily

  • what Investment banks looking to get in on the upcoming Facebook IPO, expected to be filed for next week, may only take a 1 percent underwriting fee on the stock offering. How abnormal is that? Usually, the investment banking underwriters take 5 to 7 percent.
  • why Simply put, Facebook is such a big deal that the competition is extremely high for it; underwriting it is seen as a prestige move. “The Facebook IPO will be iconic,” notes one investment banker who says that Facebook gets to set the rules on this one. source
Posted by Ernie Smith • 0 Comments • Permalink

27 Jan 2012 19:44

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Biz: CBS Sports fires blogger who flubbed Joe Paterno death report

  • Bad sourcing plus poor timing: Adam Jacobi took to Twitter earlier this afternoon to reveal that CBS Sports — which ran with a erroneous story that Joe Paterno had died hours before he actually did, based on a single tweet from a student Web site, originally linked to and otherwise unsourced (then retracted it, naming the source and initially refusing to take full credit for the error) — fired him over the incident. “In the end, CBS had to let me go for the Paterno story going out the way it did,” Jacobi wrote. “and I understand completely. Thanks, everyone, for reading.” The Washington Post’s Erik Wemple calls the move classy on Jacobi’s part, and an important line in the sand for CBS: “Not only does CBSSports.com put on notice its employees that multiple sourcing matters,” Wemple writes,”it puts on notice the entire industry.” While we don’t necessarily think Jacobi should’ve been fired, CBS made a good move, as it initially looked like they would let the sword fall onto Onward State. It would’ve been better if they took credit right away. (photo via Flickr user audreyjm529) source
Posted by Ernie Smith • 0 Comments • Permalink
 

27 Jan 2012 00:03

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Biz: Newest reason to sleep in: Taco Bell now serves breakfast

  • “This is a very important launch for our brand”: Taco Bell may like to suggest that you need a Fourthmeal, but in 800 mostly-western locations, now it suddenly wants to focus on your Firstmeal. That’s right, the Gordita grandaddy is moving into the realm of breakfast food, offering up such ideals of morning goodness as the Johnsonville Sausage and Egg Wrap, above. The company, which makes three-fifths of its parent company’s U.S. profits, is assuming that its audience likes sleeping in (having of course eaten their Fourthmeal the night before), and will serve breakfast between 8 or 9 a.m. and 11 a.m. — a later window than McDonald’s, which totally owns the breakfast market. Screw this; we’re sticking with bagels. source
Posted by Ernie Smith • 0 Comments • Permalink

25 Jan 2012 21:32

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Biz: Netflix recovers subscribers in fourth business quarter

  • 651,000 new Netflix subscribers in their fourth  quarter, a nice recovery since last year’s Qwikster/price hike exodus
  • 800,000 subscribers they lost over that series of flaps and foibles — still some fence-mending to be done source
Posted by Chris Tognotti • 0 Comments • Permalink

25 Jan 2012 15:28

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Biz: Always Low Prices? J.C. Penney tries a play out of the Wal-Mart playbook

  • 40% across-the-board price cuts over at J.C. Penney source
  • » Fewer sales, lower prices: A old retail vehicle tunes up. Department store mainstay (despite years of underperformance) J.C. Penney is making some big changes. New CEO Ron Johnson, who formerly headed Apple’s retail division, is looking to fix a pricing and sales structure that has neither kept J.C. Penney competitive, nor has helped their bottom line. Johnson’s desire to cut down on the volume of smaller, unique sales is sort of a no-brainer; he says despite the company’s prior 590 promotions per year, the average customer visited only four times, meaning “customers ignored us 99% of the time. At some point, you, as a brand, look desperate if you have to market that much.” Johnson cut that unique promotions number from 590 down to … 12. Wow.
Posted by Chris Tognotti • 0 Comments • Permalink
 
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