Carlylye Group, the world’s second largest private equity fund, is laying off 10% of its worldwide workforce, or about 100 people. Carlyle has $91.5 billion in assets under management.

They’re also closing their Menlo Park office outright.

“In response to extraordinary market conditions, Carlyle has taken measured steps to balance its cost structure with the current investment climate,” the company said.

More here and here.

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pMorningstar, the investment research and data firm, has acquired one of the services we use multiple times a day: a href="http://www.10kwizard.com" title="10KWizard"10-K Wizard/a, one of the providers of SEC filings research and alert services, for $12.5 million subject to working capital adjustments. Besides filings itself, 10K has been developing data mining tools to make sense of filings, as well as comparison tools across different filings and time periods. Morningstar will use the service to add to its overall research services...the company also said that 10K's technology can be applied to documents of all kinds, like mutual fund prospectuses. More a href="http://finance.paidcontent.org/paidcontent?GUID=7347742Page=MediaViewerTicker=MORN" title="details in release"details in release/a. /p p 10K was founded in 1999, and based in Dallas, TX. The service is available via a monthly or yearly subscription.nbsp; /p p!-- iMark Logic Digital Publishing Summit, Thursday November 6, Westin Times Square. Insight and perspective from Outsell, Gilbane, Simon Schuster, BusinessWeek.com, more. Evening cocktail reception. Cost is complimentary. a href="http://content.adbureau.net/accipiter/adclick/CID=000010cb0000000000000000/SITE=PC_US/AAMSZ=PREMB_NEWS/relocate=http://marklogicdps.eventbrite.com/"Register now!/a/i --/p pa href="http://feeds.feedburner.com/~a/pcorg?a=DbNikY"img src="http://feeds.feedburner.com/~a/pcorg?i=DbNikY" border="0"/img/a/pdiv class="feedflare" a href="http://feeds.feedburner.com/~f/pcorg?a=gWRrO"img src="http://feeds.feedburner.com/~f/pcorg?i=gWRrO" border="0"/img/a a href="http://feeds.feedburner.com/~f/pcorg?a=hDMMO"img src="http://feeds.feedburner.com/~f/pcorg?i=hDMMO" border="0"/img/a a href="http://feeds.feedburner.com/~f/pcorg?a=k5OBo"img src="http://feeds.feedburner.com/~f/pcorg?i=k5OBo" border="0"/img/a a href="http://feeds.feedburner.com/~f/pcorg?a=WbcsO"img src="http://feeds.feedburner.com/~f/pcorg?i=WbcsO" border="0"/img/a a href="http://feeds.feedburner.com/~f/pcorg?a=dHWAO"img src="http://feeds.feedburner.com/~f/pcorg?i=dHWAO" border="0"/img/a /divimg src="http://feeds.feedburner.com/~r/pcorg/~4/474935353" height="1" width="1"/

divimg alt="" src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/40522?ns=guardianpageName=Politics%3A+Tories+sack+10%25+of+party+HQ+staff+as+credit+crunch+bitesch=Politicsc3=guardian.co.ukc4=Conservatives%2CCredit+crunch+%28Business%29%2CBusiness%2CPolitics%2CUK+newsc5=Credit+Crunch%2CBusiness+Markets%2CNot+commercially+usefulc6=David+Henckec7=2008_12_04c8=1128982c9=articlec10=GUc11=Politicsc12=Conservativesc13=c14=h2=GU%2FPolitics%2FConservatives" width="1" height="1" //divpThe Conservative party is making more than 10% of its staff at party headquarters redundant as a direct result of the economic downturn, guardian.co.uk can reveal./ppThe casualties include members of the party's policy section, which provides research and ideas for the next general election manifesto./ppThe decision follows a slackening off in donations as the global financial crisis bites. Some 24 staff at the party's Millbank headquarters were told on Monday that they could be made redundant. /ppIn a separate move the party is also closing the arm's-length Constituency Campaigning Services – based in Coleshill Manor, in the West Midlands – which provides campaigning material and acts as a call centre for constituency parties. Some 40 people there have been declared redundant./ppThe two divisions bearing the brunt of the redundancies in London are the party's external affairs and policy units, which are in effect being run down. A third division, the party's business relations department, was also facing closure, but sources say the department has been saved by a big Tory donor, Alan Lewis, chair of the Hartley Investment Trust and a former treasurer of the party, who agreed to bankroll all the staff. /ppThis department has links with two key Tory organisations, Conservative City Circle and Conservative City Future, and has strong links with the City of London. /ppIt is chaired by the MP Richard Spring, the vice chair of the party with special responsibility for business and entrepreneurship, and advises George Osborne, the shadow chancellor, on small business issues./ppThe decision to slim down the policy section some 17 months before the last date of an election is a surprise. The section writes and researches draft policy for the party – and works closely with Oliver Letwin, the former shadow chancellor appointed by David Cameron to head the party's policy review. /ppThe West Dorset MP is also, alongside Cameron, a former member of the party's policy unit, after working closely with Margaret Thatcher. /ppThe external affairs department is run by George Eustace, David Cameron's former press secretary, and liaised with Christian and Muslim groups and local party associations. Sources said yesterday that Eustace was not one of the people to be sacked./ppMost of the staff facing the sack are footsoldiers, brought in to strengthen the party's work to win the next general election. /ppNone of the highly paid big hitters, including former News of the World editor Andy Coulson, the party's director of communications and planning, and marketing guru Steve Hilton, the director of strategy who is still helping the leader while working from California, are affected. /ppNor is the party's communications directorate or any of the departments bankrolled by Lord Ashcroft, the deputy chairman of the party, including the campaigning section./ppThe changes have been initiated by Andrew Feldman, the new chief executive of the Tory party, with the backing of Giles Inglis-Jones, the party's head of human resources. /ppThe closure of CCS, funded by millionaire Tory donors, comes after the political funding watchdog the Electoral Commission cleared the organisation of being controlled by the Conservative party. Registered as a body independent of the Tories, it has received nearly £2m in donations since 2004, mainly from the Midlands Industrial Council, a Tory funding body, whose members include Robert Edmiston, a car importer and property developer. /ppIt had been under investigation for two years by the Electoral Commission after the Labour party complained that it was really part of the Conservative party and was subsidising campaigning in marginal seats by millions of pounds. /ppThe Electoral Commission did a U-turn in the middle of the investigation. Its initial findings, sent to David Wall, chair of both the CCS board and of its main donor, the MIC, said the commission believed the centre was "heavily subsidised"./ppLisa Klein, the director of party and election finance at the Electoral Commission, says in the letter (seen by the Guardian): "There may have been under-reporting of donations and election expenses by candidates, agents and the Conservative party accounting units who have benefited from the subsidised rates. These potential breaches are of concern to the commission, as the rules on donation reporting are fundamental to the transparency of party and election finance in the UK."/ppA Conservative party spokesman said: "The Conservative party was in discussion with the Electoral Commission in early 2008. These were clearly initial views prior to full information being provided and before a full investigation had been completed. The Electoral Commission has since concluded that CCS's charged rates were comparable to commercial rates. On this basis there is no evidence that donations should have been declared by the party and the commission decided to take no further action."/ppHe said: "Ahead of elections next year the Conservative party will be setting up an in-house campaign centre, which will coordinate the party's campaigning work across the West Midlands."/pdiv style="float: left; margin-right: 10px; margin-bottom: 10px;"ullia href="http://www.guardian.co.uk/politics/conservatives"Conservatives/a/lilia href="http://www.guardian.co.uk/business/creditcrunch"Credit crunch/a/li/ul/diva href="http://www.guardian.co.uk"guardian.co.uk/a copy; Guardian News Media Limited 2008 | Use of this content is subject to our a href="http://users.guardian.co.uk/help/article/0,,933909,00.html"Terms Conditions/a | a href="http://www.guardian.co.uk/webfeeds/1,,1309488,00.html"More Feeds/a pa href="http://feedads.googleadservices.com/~at/apyr8aPAaXZmzqIjGuEDCMQfNQo/a"img src="http://feedads.googleadservices.com/~at/apyr8aPAaXZmzqIjGuEDCMQfNQo/i" border="0" ismap="true"/img/a/p

pFiled under: a href="http://www.joystiq.com/category/culture/" rel="tag"Culture/a/pdiv align="center"a href="http://www.gamepolitics.com/2008/12/02/quotmorally-responsiblequot-investment-firm-goes-gay-bashing-games"img vspace="4" hspace="0" border="1" src="http://www.blogcdn.com/www.joystiq.com/media/2008/12/armyoftwotim.jpg" alt="" //abr //div The Timothy Plan, one of our top 10 favorite conservative Christian, Florida-based investment firms, has just applied frowny-face stickers to "30 most offensive video games." (Offensive like killing hookers, not offensive like emHaze/em or emImagine Fashion Horsez/em.) Our favorite entry on the list? ema href="http://www.joystiq.com/search/?q=Army%20of%20Two"Army of Two/a/em, scolded for "somewhat homo-erotic undertones between the two main characters."br /br /Though we emfully /emsupport the Timothy Plan bringing to light emAoT/em's non-existent allusions that two men could have feelings for each other, we can't help but wonder ... a href="http://www.joystiq.com/2008/10/10/epic-sticks-a-fork-in-gears-of-war-2/"isn't that emour/em job/a?br /br /Not to mention [crotch-hoisting joke here].p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"a href="http://www.joystiq.com/2008/12/04/army-of-two-chastised-for-homo-erotic-content/"Army of Two chastised for 'homo-erotic content'/a originally appeared on a href="http://www.joystiq.com"Joystiq/a on Thu, 04 Dec 2008 10:55:00 EST. Please see our a href="http://www.weblogsinc.com/feed-terms/"terms for use of feeds/a./pp style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"nbsp;/ppa href=http://www.gamepolitics.com/2008/12/02/quotmorally-responsiblequot-investment-firm-goes-gay-bashing-gamesRead/anbsp;|nbsp;a href="http://www.joystiq.com/2008/12/04/army-of-two-chastised-for-homo-erotic-content/" rel="bookmark" title="Permanent link to this entry"Permalink/anbsp;|nbsp;a href="http://www.joystiq.com/forward/1391112/" title="Send this entry to a friend via email"Email this/anbsp;|nbsp;a href="http://www.joystiq.com/2008/12/04/army-of-two-chastised-for-homo-erotic-content/#comments" title="View reader comments on this entry"Comments/a/p pa href="http://feedads.googleadservices.com/~at/NXbbcbWiXyRQFqFqPO3wtMO3S9U/a"img src="http://feedads.googleadservices.com/~at/NXbbcbWiXyRQFqFqPO3wtMO3S9U/i" border="0" ismap="true"/img/a/pdiv class="feedflare" a href="http://feedproxy.google.com/~f/weblogsinc/joystiq?a=RiK4NT0i"img src="http://feedproxy.google.com/~f/weblogsinc/joystiq?i=RiK4NT0i" border="0"/img/a a href="http://feedproxy.google.com/~f/weblogsinc/joystiq?a=OvClPFPc"img src="http://feedproxy.google.com/~f/weblogsinc/joystiq?i=OvClPFPc" border="0"/img/a /divimg src="http://feedproxy.google.com/~r/weblogsinc/joystiq/~4/deSm7vF9X_M" height="1" width="1"/

pFiled under: a href="http://www.tuaw.com/category/analysisopinion/" rel="tag"Analysis / Opinion/a, a href="http://www.tuaw.com/category/multimedia/" rel="tag"Multimedia/a, a href="http://www.tuaw.com/category/odds-and-ends/" rel="tag"Odds and ends/a, a href="http://www.tuaw.com/category/internet/" rel="tag"Internet/a, a href="http://www.tuaw.com/category/developer/" rel="tag"Developer/a/pdiv align="center"img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.tuaw.com/media/2008/12/livestationstreamingiphone.jpg" alt="" /br //div We'll believe it when we see it, of course. a href="http://www.engadget.com/2007/07/06/skinkers-livestation-p2p-live-tv-broadcasting-service-demoed/"Livestation is a service/a that claims to be "a href="http://www.slingmedia.com/"Slingbox/a without the box." Once subscribed, you can watch television streamed to your computer, via a href="http://www.tuaw.com/search/?q=p2p"peer-to-peer/a, from anywhere. And now they're apparently a href="http://uk.techcrunch.com/2008/12/03/live-tv-on-the-iphone-livestation-previews-its-app/"set to announce an iPhone app/a that will do the same thing. Like we said, it seems like a great idea -- who wouldn't want to watch some TV while waiting for the train or sitting the doctor's office -- but investment money and promises do not a working iPhone app make.br /br /Even the Livestation rep says it's still in development right now, and he won't give a date other than "soon." I have no doubt that we'll soon see streaming TV on the iPhone -- with the growing popularity of sites like Hulu and Netflix's own streaming video service, and a similar promise of streaming shows from a href="http://www.tuaw.com/tag/iTV/"i.TV/a, it definitely seems like that's where media is headed, even portable media. But this isn't something to hold your breath for quite yet -- I'm happy with a href="http://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=281940292amp;mt=8"Weatherbug/a's already-working video weather reports.p style="padding:5px;clear:both;"a href="http://www.tuaw.com"TUAW/aa href="http://www.tuaw.com/2008/12/04/livestation-iphone-app-promises-live-tv-over-wifi/"Livestation iPhone app promises live TV over wifi/a originally appeared on a href="http://www.tuaw.com"The Unofficial Apple Weblog (TUAW)/a on Thu, 04 Dec 2008 10:30:00 EST. Please see our a href="http://www.weblogsinc.com/feed-terms/"terms for use of feeds/a.br style="clear:both;"/ph6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"/h6a href=http://uk.techcrunch.com/2008/12/03/live-tv-on-the-iphone-livestation-previews-its-app/Read/anbsp;|nbsp;a href="http://www.tuaw.com/2008/12/04/livestation-iphone-app-promises-live-tv-over-wifi/" rel="bookmark" title="Permanent link to this entry"Permalink/anbsp;|nbsp;a href="http://www.tuaw.com/forward/1390373/" title="Send this entry to a friend via email"Email this/anbsp;|nbsp;a href="http://www.tuaw.com/2008/12/04/livestation-iphone-app-promises-live-tv-over-wifi/#comments" title="View reader comments on this entry"Comments/a pa href="http://feedads.googleadservices.com/~at/zxua5-orNoi9idjrpYOuc8kwPt4/a"img src="http://feedads.googleadservices.com/~at/zxua5-orNoi9idjrpYOuc8kwPt4/i" border="0" ismap="true"/img/a/pdiv class="feedflare" a href="http://feedproxy.google.com/~f/weblogsinc/tuaw?a=0DBVBzVJ"img src="http://feedproxy.google.com/~f/weblogsinc/tuaw?i=0DBVBzVJ" border="0"/img/a a href="http://feedproxy.google.com/~f/weblogsinc/tuaw?a=s4VJtaiJ"img src="http://feedproxy.google.com/~f/weblogsinc/tuaw?i=s4VJtaiJ" border="0"/img/a /divimg src="http://feedproxy.google.com/~r/weblogsinc/tuaw/~4/SqWUX0IcBi8" height="1" width="1"/

pFiled under: a href="http://www.autoblog.com/category/government-legal/" rel="tag"Government/Legal/a, a href="http://www.autoblog.com/category/chrysler/" rel="tag"Chrysler, LLC./a, a href="http://www.autoblog.com/category/ford/" rel="tag"Ford/a, a href="http://www.autoblog.com/category/gm/" rel="tag"GM/a/pimg vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.autoblog.com/media/2008/12/83911851_opt.jpg" alt="" /br /br /General Motors CEO Rick Wagoner has arrived in Washington to deliver testimony at Senate hearings scheduled for today and tomorrow, and as we a href="http://www.autoblog.com/2008/12/03/wagoner-driving-volt-mule-to-congress/"reported late yesterday/a, his transportation this time was not a private jet, but rather a series hybrid a href="http://www.autoblog.com/2008/11/21/lutz-update-volt-moves-from-malibu-to-cruze-mules/"Chevy Volt mule/a in the body of a a href="http://www.autoblog.com/2008/10/03/paris-2008-chevrolet-cruze-meets-an-eager-europe/"Chevy Cruze/a. Ford CEO Alan Mulally also ditched his private plane for a ride down to DC a href="http://www.autoblog.com/2008/12/02/mulally-chooses-escape-hybrid-for-d-c-road-trip/"in a Ford Escape Hybrid/a, while Chrysler CEO Bob Nardelli made the trip in a Chrysler Aspen Hybrid. UAW President Ron Gettelfinger flew down, but on a commercial flight (he never had a private jet in the first place and it likely would've been awkward if he chose one automaker's vehicle over the other two).br /br /Testimony will be given by the four men and a number of other witnesses today and tomorrow, though it still appears as if there aren't enough votes in the Senate to get federal aid for the automakers passed immediately. Even if aid in the form of government loans is approved, there's still the matter of where the money will come from. The only two options on the table are converting $25 billion in already approved loans for investment in green technology to be used by the automakers to keep their businesses afloat, or carving out the money from the $700 billion in aid that Congress has already approved for the financial industry. We'll be keeping an eye on what's happening in Washington today and tomorrow, so stay tuned.br /br /[Photo by Win McNamee/Getty]p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"a href="http://www.autoblog.com/2008/12/04/wagoner-arrives-for-senate-hearing-in-volt-mule/"Wagoner arrives for Senate hearing in Volt mule/a originally appeared on a href="http://www.autoblog.com"Autoblog/a on Thu, 04 Dec 2008 10:29:00 EST. Please see our a href="http://www.weblogsinc.com/feed-terms/"terms for use of feeds/a./ph6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"/h6a href="http://www.autoblog.com/2008/12/04/wagoner-arrives-for-senate-hearing-in-volt-mule/" rel="bookmark" title="Permanent link to this entry"Permalink/anbsp;|nbsp;a href="http://www.autoblog.com/forward/1391221/" title="Send this entry to a friend via email"Email this/anbsp;|nbsp;a href="http://www.autoblog.com/2008/12/04/wagoner-arrives-for-senate-hearing-in-volt-mule/#comments" title="View reader comments on this entry"Comments/a pa href="http://feedads.googleadservices.com/~at/PXyU1Cq38FdXJ5GI0HtKrInN7sA/a"img src="http://feedads.googleadservices.com/~at/PXyU1Cq38FdXJ5GI0HtKrInN7sA/i" border="0" ismap="true"/img/a/pdiv class="feedflare" a href="http://feedproxy.google.com/~f/weblogsinc/autoblog?a=pZLv1RTL"img src="http://feedproxy.google.com/~f/weblogsinc/autoblog?i=pZLv1RTL" border="0"/img/a a href="http://feedproxy.google.com/~f/weblogsinc/autoblog?a=4X2Z9MWe"img src="http://feedproxy.google.com/~f/weblogsinc/autoblog?i=4X2Z9MWe" border="0"/img/a /divimg src="http://feedproxy.google.com/~r/weblogsinc/autoblog/~4/q-RyNIkP9nY" height="1" width="1"/

div class="rxbodyfield"p class="ArticleBody" page="1"Advocates of net neutrality rules in the U.S. have called on President-elect Barack Obama to act quickly to prevent broadband providers from blocking or impairing access to Internet content of customers#39; choice./pp align="right"a href="http://ad.doubleclick.net/jump/idg.us.info.rss/news;pos=imu;tile=6;sz=336x280;skey=patch_management;pkey=security;ord=123456789?" target="_blank" /img src="http://ad.doubleclick.net/ad/idg.us.info.rss/news;pos=imu;tile=6;sz=336x280;skey=patch_management;pkey=security;ord=123456789?" width="336" height="280" border="0" alt="" align="right"//a/pp class="ArticleBody" page="1"The Open Internet Coalition on Wednesday called on Obama to follow through with his promises during the presidential campaign to establish net neutrality rules. Members of the coalition also called on Obama to appoint a new chairman of the U.S. Federal Communications Commission who would enforce net neutrality rules and champion broadband competition./pp class="ArticleBody" page="1"strong[ For an in-depth look at the/strong strongbattle lines that have been drawn over net neutrality, check out InfoWorld#39;s#160;a href="http://www.infoworld.com/archives/t.jsp?N=samp;V=79894amp;source=fssr"special report/a. And for/strong strongthe latest in government IT news and issues: Subscribe to InfoWorld#39;s/strong a href="http://www.infoworld.com/newsletter/subscribe.html?source=fssr"strongGovernment IT newsletter/strong/a strong. ]/strong/pp class="ArticleBody" page="1"In addition, Obama should appoint leaders at the U.S. Federal Trade Commission and Department of Justice who will promote an open Internet through antitrust and consumer-protection laws, and he should put key staff in place at the new office of U.S. chief technology officer and the Office of the U.S. Trade Representative to promote open Internet ideals both in the U.S. and overseas, the groups said in a href="http://www.openinternetcoalition.org/files/Letter%20to%20Transition%20Team_120308.pdf" target="_blank"their letter/a to the Obama transition team./pp class="ArticleBody" page="1"quot;Net neutrality is certainly one key part of the platform, but it#39;s only one part,quot; said Art Brodsky, communications director for Public Knowledge, a digital rights advocacy group that#39;s part of the coalition. quot;We want to make certain that these institutions of government are prepared to implement an open Internet agenda and respond appropriately to threats.quot;/pp class="ArticleBody" page="1"Members of the group, asked if they believe Obama will act on net neutrality and broadband competition given priorities such as the U.S. economy, said they expect the new president to move ahead on tech issues. quot;Providing affordable, accessible, high-speed Internet to all Americans is part of the economic recovery,quot; said Markham Erickson, director of the coalition./pp class="ArticleBody" page="1"Coalition members said they#39;re encouraged that Obama talked about keeping the Internet open in a a href="http://www.barackobama.com/issues/technology/" target="_blank"tech policy paper/a released more than a year ago. quot;When it comes to people lobbying, we#39;re always going to be behind,quot; Brodsky said. quot;The telephone companies are the biggest, wealthiest, and have the [largest] army of people out there. What we have now that we didn#39;t have before is backing of an administration.quot;/pp class="ArticleBody" page="1"Large broadband providers have questioned the need for new net neutrality laws, saying that the FCC has already acted against carriers that have unreasonably blocked or slowed Internet content. Strict net neutrality rules may discourage investment in broadband networks at a time when Obama is calling for more broadband, they have said./pp class="ArticleBody" page="1"A representative of Comcast, the nation#39;s largest broadband provider, declined to comment on the coalition#39;s letter. Representatives of Verizon Communications and Hands Off the Internet, a group opposing net neutrality rules, weren#39;t immediately available for comment./p/divbr style=clear: both;/ a href=http://www.pheedo.com/click.phdo?s=8b1748f719fc92ce71232bfb37e5df02p=1img alt= style=border: 0; border=0 src=http://www.pheedo.com/img.phdo?s=8b1748f719fc92ce71232bfb37e5df02p=1//a img src=http://www.pheedo.com/feeds/tracker.php?i=8b1748f719fc92ce71232bfb37e5df02 style=display: none; border=0 height=1 width=1 alt=/

Investment bank Piper Jaffray said Thursday that weakness in consumer spending will bite into PC sales next year, including Apple#39;s, leading the firm to cut its 2009 sales estimates for the Mac maker along with the broader market.

pimg src="http://www.gamasutra.com/db_area/images/news2001/21368/koreaflag.jpg" align="left" hspace="5"/Korea's government is backing the nation's games industry with a 350 billion won investment -- $200 million -- until 2012, aiming to expand the country's game exports to 5 trillion won ($3.39 billion) a year. According to a report in Korean news publication Digital Chosunilbo, Culture, Sports and Tourism Minster Yu In-chon revealed the plans in a recent meeting, citing the potential for the games industry to drive future growth. As evidence, Yu said that .../p pmap name="google_ad_map_63Rk4mkOMWIDPTmIgnbwbcEnZVc_"area shape="rect" href="http://imageads.googleadservices.com/pagead/imgclick/63Rk4mkOMWIDPTmIgnbwbcEnZVc_?pos=0" coords="1,2,367,28"/area shape="rect" href="http://services.google.com/feedback/abg" coords="384,10,453,23"//mapimg usemap="#google_ad_map_63Rk4mkOMWIDPTmIgnbwbcEnZVc_" border="0" src="http://imageads.googleadservices.com/pagead/ads?format=468x30_aff_imgclient=ca-pub-3896033488060561channel=feedburner-rssoutput=pngcuid=63Rk4mkOMWIDPTmIgnbwbcEnZVc_url=http%3A%2F%2Fwww.gamasutra.com%2Fphp-bin%2Fnews_index.php%3Fstory%3D21368"//pdiv class="feedflare" a href="http://feeds.feedburner.com/~f/GamasutraNews?a=tcxKO"img src="http://feeds.feedburner.com/~f/GamasutraNews?i=tcxKO" border="0"/img/a a href="http://feeds.feedburner.com/~f/GamasutraNews?a=wV5vO"img src="http://feeds.feedburner.com/~f/GamasutraNews?i=wV5vO" border="0"/img/a a href="http://feeds.feedburner.com/~f/GamasutraNews?a=yNPsO"img src="http://feeds.feedburner.com/~f/GamasutraNews?i=yNPsO" border="0"/img/a /divimg src="http://feeds.feedburner.com/~r/GamasutraNews/~4/474958679" height="1" width="1"/

Goldman Sachs has today snubbed a second, raised offer by Panasonic for the stake that the Wall Street investment bank holds in Sanyo, the struggling Japanese electronics group it rescued from annihilation two years ago.

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Over the last 4 years my biggest investments have been in the development of wind farms, solar farms and in Fon. One could argue that it is quite a diversified strategy. What correlation could there be among a global WiFi network, and wind farms and solar farms around Spain? Well there is one. On a day like today, that it is cloudy but not windy around Spain and cold everywhere in the Northern hemisphere revenues are at the lowest in all companies. Solar Farms get no sun, Wind Farms get no wind, and people stay indoors and connect less to WiFi at Fon. And on top of that I can´t even go cycling cause it´s too cold! The weather sucks big time today!

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BOSTON (AP) -- Fidelity Investments is joining the rush to satisfy investors' growing appetite for news about financial market turmoil....

The Swiss bank warned it had lost a net SFr3bn in the two months to the end of November and would axe about 11% of its workforce, principally in investment banking

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Fidelity Investments is joining the rush to satisfy investors' growing appetite for news about financial market turmoil.div class="feedflare" a href="http://feeds.feedburner.com/~f/ibtimes/tech?a=8E3NO"img src="http://feeds.feedburner.com/~f/ibtimes/tech?i=8E3NO" border="0"/img/a a href="http://feeds.feedburner.com/~f/ibtimes/tech?a=YWlao"img src="http://feeds.feedburner.com/~f/ibtimes/tech?i=YWlao" border="0"/img/a a href="http://feeds.feedburner.com/~f/ibtimes/tech?a=sRTAo"img src="http://feeds.feedburner.com/~f/ibtimes/tech?i=sRTAo" border="0"/img/a /divimg src="http://feeds.feedburner.com/~r/ibtimes/tech/~4/474330652" height="1" width="1"/

!-- pageType= magazinesmall slug= ff_blodget section= techbiz subsection= people headline= Financial Industry Scapegoat Reinvents Himself as Financial Reporter authorName= Daniel Roth creditType= photo credit= Mike McGregor caption= Henry Blodgetis back, and his straight-talking analysis of the Web world is earning him new fans. -- pstrongHenry Blodget/strong has never gotten used to the chorus of hate that follows his every move. He's merely learned to live with it. When he started his personal blog in 2005, the comments a href="http://www.internetoutsider.com/2005/10/welcomeand_than.html"dripped with disgust/a. "You are a boldface liar," a reader wrote. "Give me one reason why I should believe what you are writing," said another. And that was just in response to Blodget's innocuous first entry. /ppDuring his years as a star Wall Street analyst, his pronouncements were welcomed and celebrated; now he couldn't say hello without getting savaged. Just last August, TechCrunch mentioned that Blodget would be one of more than two dozen tech celebrities a href="http://www.techcrunch.com/2008/08/15/4-new-experts-henry-blodget-josh-kopelman-tim-o%E2%80%99reilly-robert-scoble-join-techcrunch50/"judging a contest/a for startups. Blodget knew what was coming, even if his hosts didn't. "Blodget is scum.... He is no longer the arrogant prick we saw in the '90s, but he's still scum," someone wrote. "A lot of people lost money listening to this dirtbag." "Blodget is a Web 1.0, bubble-creating has-been." "He is unethical." "He's as crooked as they come."/p pI meet a href="http://www.alleyinsider.com/henry_blodget.html"Blodget/a at the offices of his new business, a year-old site called a href="http://www.alleyinsider.com/"Silicon Alley Insider/a, shortly after the TechCrunch beat-down. Alley Insider is one of many tech business blogs that feed news, earnings info, and rumors to investors and corporate insiders. But Alley Insider has one thing that others don't. Blodget. He's smart, he's skeptical, and he's got the kind of self-assured voice that sells well in the blogosphere. As the market sinks, his opinions are even more in demand, though he's still hated by a large portion of his prospective audience./p pThe site shares two floors of a Manhattan office building with programmers and business staff for some of Alley Insider's sister companies, all of which were started by former DoubleClick CEO a href="http://www.alleyinsider.com/kevin_ryan"Kevin Ryan/a. Blodget works in a double-wide cubicle near a window, separated by a low wall from the site's two other editors. They spend their days crawling Twitter and RSS feeds, calling sources, and pumping out about a dozen daily takes on the business world, most with Digg-friendly headlines (no easy accomplishment with bone-dry business stories). "Is Facebook Distracting Us From Porn? No" is a href="http://www.alleyinsider.com/2008/9/is-facebook-distracting-us-from-porn-no"typical/a, or "a href="http://www.alleyinsider.com/2008/4/googles_ginormous_food_budget_7530_per_googler"Google's Ginormous Food Budget/a: $7,530 Per Googler, $72 Million a Year." Blodget tells his team to think of the site as talk radio: He wants readers to feel compelled to check in several times a day to get the Alley Insider view on everything going on in their world./p pFor privacy, we duck into a small conference room, and Blodget, tall and skinny, sinks into a ridiculously deep leather chair. His floppy dirty-blond hair gives him a youthful, almost carefree air, but the deep circles that ring his eyes tell a different story. He's managing a 24-hour news startup. It's midday and he's been posting since 5 am. And then there's the burden that comes with being Henry Blodget, digital punching bag./p p"There are obviously a lot of folks who say, 'Now wait a minute, isn't that the guy who....'" He lets the thought trail off. He's legally barred from talking about the incidents that led to his vilification. "To them, I'm emthat/em Henry Blodget. There's not much more I can say. I still can't address specific points. So it's like, 'OK, here's my face. Throw the fruit. When you want to stop throwing the fruit, if you want to listen, great. If you don't, fine.'"/p pIt's been almost a decade since the impulse to greet him with rotten mangos first struck. Back in 1998, as a 32-year-old analyst with investment bank CIBC, he a href="http://www.thestreet.com/markets/analystrankings/977502.html"declared/a that the stock price of Amazon.com would nearly double to $400. Three weeks later it did, and Blodget was a hero. Soon he packed up his spreadsheets mdash; he's never more comfortable than when he is lining up numbers in rows and columns and teasing out their secrets mdash; and moved to Merrill Lynch./p pInvestors followed the new oracle's every utterance, and bankers wanted Blodget to bless the stocks of companies they were hoping to do business with. The lines on his graphs always seemed to point one way mdash; steeply up and to the right. He wasn't just predicting profits, he was selling a revolution: The old metrics didn't apply. Blodget may have counseled people to own only a small percentage of Internet stocks mdash; 10 percent at the most mdash; but nobody listened./p !-- pagebreak -- div id="embed" style="width:370px;" div id="pic" style="width:350px;" img style="width:350px;" src="http://www.wired.com/images/article/magazine/1612/ff_blodget3_f.jpg" alt=""/ div id="caption" Launched in 2007, Silicon Alley Insider is gaining on some of its established rivals. br/ emSource: Compete/em /div /div /div pThen came the crash. Five trillion dollars in wealth vaporized in 24 months, leaving behind unquantifiable amounts of rage among the masses of day traders who had believed briefly that they, too, were market savants. When the bubble burst, so did Blodget's aura./p pStill, it wasn't the crash alone that crushed him. It took Eliot Spitzer to turn Henry Blodget into emthat/em Henry Blodget. Spitzer, then New York's crusading attorney general, investigated Merrill in 2001 for conflicts of interest. He discovered a clutch of emails from the young analyst showing that while talking up certain stocks to clients, he was trashing them internally. Companies like 24/7 Media, Excite@Home, and InfoSpace mdash; firms Merrill was publicly cheering mdash; in private were deemed by Blodget to be "shit," "crap," and "junk" (respectively). According to Spitzer's findings, Blodget would have pulled in $12 million in 2001 mdash; quadruple his earnings in 1999 mdash; if he hadn't accepted a buyout that year. In 2003, Merrill's boy genius agreed to pay a $4 million fine and accepted a lifetime ban from working in the securities industry./p pPublic disgrace usually drives a person into hiding, or at least into a different career. Jerry Levin, the brains behind the disastrous AOL-Time Warner merger, today runs a href="http://moonviewsanctuary.com/staff"Moonview Sanctuary/a, his wife's spa; Spitzer, forced to resign as governor last summer, is currently discovering the a href="http://blogs.wsj.com/developments/2008/06/10/spitzers-next-act-distressed-real-estate/"joys of real estate management/a; Health South CEO Richard Scrushy, while on trial for accounting fraud, a href="http://www.richardmscrushy.com/biography.aspx"became a televangelist/a. Not Blodget./p pOne former colleague says Blodget spent the months when he was being investigated trying to grasp why he was singled out for something that was commonplace in the industry. He figured the controversy would blow over once the public realized his conduct was not unusual. "He was incredulous that the investigation got traction; he said it was silly," a friend says. But there was too much anger in the wake of the bubble, and Blodget's embarrassing emails made him an easy scapegoat. Later, when he was inclined to argue his case, the settlement terms prevented it./p pSo Blodget did what came naturally. He began writing about the companies he used to cover, a href="http://www.slate.com/id/2104656/"first for Slate/a, then on his own blog, a href="http://www.internetoutsider.com/"Internet Outsider/a. Was this journalism mdash; or was it therapy? Rather than hide, he started saying in public what he had once said only in private, using the same brutally frank voice that got him in trouble with Spitzer. He marketed his notoriety to a new Web readership hungry for smart, independent analysis./p pWhen Ryan, an Internet Outsider reader, approached him about starting an industry news site, Blodget jumped at the prospect of a bigger stage. Before working on Wall Street, he'd been a freelance writer; now he could combine the two vocations, borrowing freely from both journalism and equity research./p pThrough Alley Insider, Blodget is trying to erase, post by post, Spitzer's portrait of him as a duplicitous, money-grubbing shill for big business. Blodget has always believed that the Internet changed everything, so naturally he believes it has the power to change the world's perception of him. The venue offers all Henry, all the time (and even when his other writers are posting, it's clear they're channeling him). The result is a unique blend of x-ray analysis and tech evangelism./p pAs we talk, Blodget gets up from his chair, antsy to return to his laptop. I ask him if he understands what he's up against. If the hate has lasted this long, why expect it ever to fade away? "If all I knew about me was what I read during that period," he says, "I'd probably have the same reaction."/p pstrongOn a late summer morning/strong, Blodget waits in the lobby of the Nasdaq building in midtown Manhattan. He's all banker today: blue suit, red tie, black cap-toed Oxfords, his shirt so deeply pressed there are creases down the sleeves. It's 10 am and, ready for his second breakfast, he pries open the plastic case of a turkey and Swiss sandwich and starts wolfing it down. In a few minutes he is supposed to conduct a video interview for Yahoo's Tech Ticker finance site. As soon as Blodget started appearing as a regular host in February, the Furies a href="http://finance.yahoo.com/tech-ticker/article/650/Jerry-Yang-Strikes-Back;-Here%27s-Microsoft%27s-Next-Move?tickers=yhoo,msft"reemerged/a. "Did you not find any other decent, credible guy than Henry Blodget?" one of the first comments read. "Why spoil this new feature with such a scum and spoil the Yahoo reputation?"/p pAs producers prepare to tape the show, Blodget wipes his crumbs off the table. He explains the guiding vision behind Alley Insider. "We don't want to do things we don't care about," he says. "It's nice to say theoretically we're the judge of what's important and what's not, but come on, give readers credit. They'll tell you immediately what they want, and that drives coverage. People are fanatically interested in Apple, Google, Microsoft. It wasn't a tough call to know what to write about."/p pBlodget's focus on content is matched by his apparent indifference to the look of the site. Alley Insider employs a cookie-cutter template of scrolling headlines and thumbnail photos dragged off the Web. But design limitations notwithstanding, by September the site was getting nearly 500,000 visitors a month, rivaling a href="http://allthingsd.com/"AllThingsDigital.com/a, the citeWall Street Journal/cite blog edited by Kara Swisher and Walt Mossberg. Since the beginning of the year, traffic to the site has more than doubled, and Blodget's words now carry surprising weight. When a href="http://www.alleyinsider.com/2008/10/apple-s-steve-jobs-rushed-to-er-after-heart-attack-says-cnn-citizen-journalist"he reported/a early this fall that Steve Jobs may have been rushed to the hospital after a heart attack mdash; citing an anonymous (and, as it turns out, fraudulent) post on a minor user-generated news site run by CNN called iReport mdash; Apple's a href="http://money.cnn.com/2008/10/03/technology/apple/"stock dropped/a nearly 10 percent. Critics blamed Alley Insider./p p"I read citeThe New York Times/cite, citeThe Economist/cite, and Alley Insider," says a href="http://www.firebrandpartners.com/principals/index.html"Scott Galloway/a, head of investment equity firm Firebrand Partners, who is best known for his successful public fight to get on the board of citeThe New York Times/cite. "Henry takes a no-mercy, no-malice approach to Web business and media." Valleywag recently called him "the disgraced stock analyst everyone now listens to."/p !-- pagebreak -- div class="wide_img" img src="http://www.wired.com/images/article/magazine/1612/ff_blodget2_f.jpg" alt="" div class="wide_caption" div class="wide_caption_txt" The team at Silicon Alley Insider (left to right): senior editor Dan Frommer, COO Julie Hansen, cofounder Kevin Ryan, and editor in chief Blodget. br/ emPhoto: Mike McGregor/em /div /div /div br/ br/ pFor all the success today, it took Blodget amp; Co. some time to figure out a winning formula. When Ryan, a New Yorker, launched the site in 2007, he wanted to cover the local startup and media scene. Blodget signed on as CEO and editor in chief, bought a minority stake, and hired citeForbes/cite journalists a href="http://www.alleyinsider.com/peter_kafka"Peter Kafka/a and a href="http://www.alleyinsider.com/dan_frommer"Dan Frommer/a to help him develop content (Kafka was later hired away by AllThingsD). The first few weeks, the site read like a tourist's guide to spotting B-list Internet companies in the big city, with each firm's location prominently announced: "NoHo-based Meetup has quietly launched a Facebook application"; "Flatiron-based YellowJacket Software has raised $1.25 million." Blodget branched out, taking on the bigger names himself mdash; Apple, Dow Jones, NBC, JP Morgan. It quickly became clear to him that New York's tech industry was too small an arena to contain the ambition of the site. And nearly half the readers were in California anyway./p pAlley Insider soon dropped its Silicon Alley focus but stuck with the moniker. And Blodget began to draw more heavily on his research experience. He created financial models of the companies he was talking about and posted the spreadsheets as Google docs so anyone could download and toy with them. He analyzed the potential revenue YouTube could bring to Google, mapping out his assumptions about viewership and ads watched, and offering a clear bottom-line conclusion. Readers weighed in with their critiques, which Blodget used to sharpen the model. He figured he wouldn't just write about Wall Street, he would also usurp part of Wall Street's business by providing high-quality research, the kind brokerage customers used to prize./p pBut visitors to the site wanted more than analytics. They also craved the edgier Henry of the Spitzer emails. Blodget obliged. In one post, a href="http://www.alleyinsider.com/2008/1/ben_stein_is_an_idiot"Blodget declares/a citeNew York Times/cite economics columnist Ben Stein to be either "an idiot" or possibly just "delusional." He suggests that the anonymous sources cited by archrival TechCrunch in its reporting on Microsoft's attempt to purchase Yahoo "a href="http://www.alleyinsider.com/2008/5/yahoo_stock_fades_as_techcrunch_microsoft_takeover_sources_sober_up"must have been drunk/a." And in November 2007, when E-Trade lost $9 billion in value as its risky mortgage bets turned to dust, Blodget offered only one piece of advice to the company's shareholders: "a href="http://www.alleyinsider.com/2007/11/etrade_etfc_total_cost_of_screwup_9_billion"Cry/a."/p p"On Wall Street, I'd consistently submit a report that would say, 'This is going to be roadkill,' and it would come back rewritten as 'We see some weakness,'" Blodget says. "Now I can say, 'It's going to be roadkill.' That's very satisfying."/p pBut even as he delights in railing against corporate giants, he's still disciplined enough to run the underlying numbers mdash; Blodget loves the drama, but he loves the spreadsheets just as much. One post about craigslist should have been something only an accountant could love: a complex set of assumptions and analyses to determine what the company might be worth. Yet Blodget wrote the whole exercise as if it were a mystery plot, parceling out details and stringing the reader along until the very end./p pWhen Yahoo announced this summer that it had hired Bain a