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Articles tagged with: investors

Cable & Wireless CEO Resigns After 3rd Profit Warning

The Cable & Wireless Worldwide Chief executive Jim Marsh has just resigned after the telecommunications and networking company received its third profit warning in less than year. It’s never a good thing when the CEO gets sketched out and hits the ‘eject’ button, so you know change must happen if the company is to succeed.

He will be replaced by a former CEO, John Pluthero, which I also find a strange move on behalf of the company. Pluthero, who will receive a $1 million salary when the company has been struggling for the past year, claims that the salary will help him ensure that the company stays on the right track with growth.

Toyota Working On ‘Toyota Friend’ Social Network

Toyota is creating a social networking service with the help of an American ISP and Microsoft in an initiative aimed to get drivers to interact with their cars, much like they do with Facebook and Twitter. Japanese auto-maker Toyota is teaming up with Salesforce.com to launch a new social network called “Toyota Friend”, the network is aimed to work similar to Twitter.

In a Tokyo demo-room, an owner of a plug-in Prius discovered from his Prius that he should remember to recharge the car overnight.

Bankrupt Blockbuster For Sale

The popular movie rental chain, Blockbuster is now bankrupt and a part of an ongoing auction that opened Monday morning. Today, a winning bid of $284 million bid from Dish Network’s Charles Ergen was placed. The next highest bidder is a hedge-fund manager, Carl Icahn at 280.9 million.

The other groups with qualified bids are Monarch Alternative Capital, South Korea’s SK Telecom, and a joint bid by liquidators Gordon Brothers Group and Hilco Merchant Resources. If Carl Icahn or the Gordon Brothers/Hilco Merchant group were to win,

TechStars Raises $8 Million In Funding

With locations all over the country, TechStars is a “mentorship-driven seed stage investment program.” Each year, they run a three month long program in Boston (MA), Boulder (CO), New York City (NY) and Seattle (WA). TechStars is very selective, hand picking about ten companies out of hundreds for each city. These companies get up to $18,000 in seed funding, three months of intensive top-notch mentorship, and the chance to pitch to angel investors and venture capitalists at the end of the program.

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