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Nov 202008

Citigroup’s shares fell sharply for the second day in a row.

On Thursday, Citigroup shares fell over 26% to $4.71, marking the second day the bank’s shares have dropped so sharply. In intra-day trading, Citigroup’s shares fell as low as $4.39.

The stock fell 23% the previous day.

Here are the two big questions now:

1. Is Citigroup CEO Vikram Pandit’s goose cooked?
2. Will Vikram Pandit preside over the demise of Citigroup?

We have said for some time now that this fella Vikram Pandit is the wrong man for a difficult job.

Sure, the guy inherited a mess from his predecessor Charles Prince but what’s Vikram Pandit been doing since becoming CEO.

After all, Vikram’s supposed to be a veteran (at least in theory) of Wall Street and he has been in the CEO’s seat for over 11 months now.

Other than firing 73,000 employees this year, Vikram Pandit seems to have done little else of significance so far. Continue reading »

Nov 202008

Mobile phone giant Nokia has established a research lab in Hollywood to explore new entertainment experiences that combine the physical and digital worlds.

The new Nokia Research Center Hollywood plans to work on technologies surrounding the media industry like film, music, games, web and TV, all in the context of the mobile space.

Nokia said that research topics will have a strong focus on entertainment and related issues including mixed reality, content creation and user interface experiences.

Besides recruiting from and collaborating with Hollywood entertainment, media and art communities, the new Nokia lab plans to work closely with local universities such as University of California Los Angeles (UCLA) and University of Southern California (USC).

Nov 202008

Unless you’ve just come in from another planet, you know that Microsoft’s Zune digital music player is a disaster.

We’ve long believed that only schmucks and trash lovers buy Zune. Serious music lovers have already purchased Apple’s iPod, which is available in different models and is also part of the popular iPhone.

In the latest move to boost Zune sales, Microsoft is tweaking its $14.95 a month music subscription service to let users permanently keep 10 tracks every month.

Like all previous Microsoft efforts (price cuts, adding features like wireless sync capability et al), we believe this one too won’t make a difference.

You can put all the lipstick on a pig but at the end of the day it’s still a Continue reading »