Posts Tagged ‘Google’

The Week Unpeeled

The jobs picture turned a little sour last week with growth well below expectations because of a non-farm number at only 88,000 and an unemployment rate down to 7.6 percent in March, mostly because of folks leaving the workforce. That put a damper on the market, which has been on a tear.  The Dow ended pretty much unchanged for the week at 14,565, and other indicators were mixed, reflecting the divergent opinions on the direction of the economy and outlook for this rally.  In other markets, bonds continued to show signs of weakness with the closely watched “Agg” or Barclay’s US Aggregate Bond Index declining 0.12 percent in the first quarter, its first decline for that period (WSJ, Apr 3) in about seven years.

Elsewhere:

  • The SEC “blessed” the use of social media for corporate America to announce market-moving news (Warren Buffett’s BusinessWire opted not to “like” by objecting to the decision, no surprise really because it can make those dissemination services obsolete);
  • North Korea continued its bully tactics asking embassies to prepare evacuation plans;
  • Apple CEO Tim Cook used the apologia app and said sorry to China for certain customer service policies;
  • Facebook released what seems to be a super phone app called Home for Google’s Android operating system;
  • Developing signs of bird flu in China started to make headlines;
  • Roger Ebert, famed movie critic of thumbs up or down, died; and
  • Jay-Z, ever-morphing, this time into sports agentEnd of Story
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The Week Unpeeled

Headlines dealt us lots of news, events and confessions last week, with much of the recent focus on Martin Luther King Day and the inauguration Monday. President Obama’s official second-term White House photo was unveiled, with him looking a little more relaxed with a big grin, completely unmatched to his rhetoric to Congress and House Republicans all week on fiscal matters.  (The debt ceiling increase was passed for the next three months.)  Elsewhere:

  • Transcripts from Fed meetings during the financial meltdown were released, revealing a central bank that “failed to grasp dangers” (FTWeekend headline) of 2007 crisis;
  • Lance (“One Big Lie”) Armstrong confessed but the bigger story it seemed was not many tuned in to watch it on Oprah (only 3.2 million viewers), suggesting no one cares (my vote) and Oprah and big networks are kinda out of touch of what news counts (my other vote);
  • Likewise in the few-care-but-I-can’t-stop-reading-this-ghost story, Manti Te’o. (WSJ poll found 1 percent “don’t care” about it.) Enuf said;
  • Facebook dived into the search business with a tool called “graph search” (Google it for details);
  • Banks reported mixed results, with Goldman strong and JP Morgan CEO Jamie Dimon taking a whale of a pay cut (actually reports differed from 30 percent to 50 percent reductions);
  • Dell in talks to go private;
  • The Dow ended at a five-year high at 13,649;
  • Swatch bought Harry Winston (priceless and timeless!);
  • Daniel Edelman, PR giant, and Dear Abby (also priceless and timeless!) died; and
  • The First Lady got bangs.
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The Week Unpeeled

Media Navel GazeThe year started with quite a bit of news, with markets a bit confused over fiscal cliff next steps and reaction to closely followed US employment news, with employers adding 155,000 jobs in December (called “tepid” by WSJ) and the jobless rate at 7.8 percent.  The equities markets rallied hard last week, with the Dow closing at 13,435 amid its biggest weekly point gain in a year.  Elsewhere:

  • Warren Buffett’s MidAmerican Energy Holdings agreed to spend up to $2.5 billion on what was called the largest solar photovoltaic operation, giving a big boost to alt energy;
  • Google got the all-clear from the US on its search engine after an anti-trust investigation, paving way no doubt for more aggressive competition;
  • Transocean (operator of Deepwater Horizon) agreed to a $1.4 billion settlement with US Dept of Justice from Gulf of Mexico gulf-rig disaster;
  • US car sales soared 13 percent, fastest growth in 20 years;
  • Al-Jazeera, the pan-Arab news outlet, bought Al Gore’s Current TV, which will increase its US distribution to 40 million homes;
  • Andrew Sullivan announced plans to leave Daily Beast to go solo on his own subscription website, a move that will be watched closely as the high-profile blogger goes the subscription route;
  • Hugh Hefner at 86 marries his “runaway bride,” 26; and
  • The Daily Telegraph reports that Brad and Angelina also got hitched on Christmas. End of Story
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The Week Unpeeled

Big media-related news – traditional and social alike – all week, with Newsweek announcing that it would end its print edition (interesting to read print stories day after announcement – all second day leads because all news broke and swirled the day before, highlighting the reason for the move); Google stock dropped like a rock (about 8 percent) on disappointing earnings – released early, btw, by “human error” from another firm sending results to the SEC -- as the search behemoth tries to figure out the mobile world (along with most of the world) as a business model;  and former Goldman Sachs PR chief, Lucas van Praag, started his own shop called LvP & Associates, no doubt with a  focus on crisis communications and reputation management.

Elsewhere:

  • Citigroup CEO Vikram Pandit exited the bank, replaced by insider Mike Corbat, a surprise probably just in timing;
  • Goldman Sachs “Suffered a Solid Quarter” in a return to profit and in an odd choice of words in The Wall Street Journal headline that seems to show uncertainly about the economy and uncertainly about maybe even Goldman in fiscal and reputational health;
  • Former cyclist Lance Armstrong lost his advertising income (Anheuser-Busch, RadioShack, Nike and a few others) post allegations of doping (maybe he should sponsor a juice company);
  • Friday marked the 25th anniversary of Black Monday when a surge in panic selling on Wall Street triggered a global stock market collapse; the Dow responded in a like but smaller manner, falling more than 200 points on Friday to end at 13,343, spooked by weak earnings and expectations for a weak earnings season;
  • US economists Lloyd Shapley and Alvin Roth win the Nobel prize for economics on the theory of “stable allocations” or matching people and things together;
  • European leaders agreed a timetable to set up a single eurozone-wide banking supervisor run by the European Central Bank
  • The Office for National Statistics released data indicating UK unemployment in August fell by 50,000 to 2.53m to stand at 7.9pc. and UK inflation also fell to 2.2pc in September from 2.5pc in August
  • Starbucks is facing criticism after it was revealed the coffee chain paid just £8.6m corporation tax in the UK over the last 14 years and nothing in the last three through legal tax minimization techniques
  • Paintings with a combined worth of £50 million by Picasso, Matisse, Gauguin, Meyer de Haan, Lucian Freud and two by Monet were stolen from a gallery in Rotterdam; and
  • Johnny Depp is starting his own literary imprint just to add more cool to his coolness. End of Story
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This has been a big year for Apple. Of course, every year for the past five years has been relatively big for Apple, but hey—we finally have the iPhone 5! And iOS6! And a fantastic new maps app!. . . Wait, what's that? Hold on, there was drama surrounding the app because it didn't have the normal coat of polish that most Apple products have? And both Google Maps and Youtube apps are no where to be found in iOS6? Oh my, I feel weak, I need to take a breather.

Apple recently released the  iPhone 5 along with iOS6. With these releases, they've introduced their own maps and navigation app to questionable fanfare. Should Apple be concerned about the more-than-usual bad press?

Okay, I'm good now. I just needed to cuddle with my functionally sound Samsung Galaxy S3. Amazingly, it was able to tell me how to navigate from freak out mode to sanity once again. How do the following amazingly intelligent individuals feel about Apple's current drama?

"They should be concerned for a few reasons, but not the obvious one some people may raise: will the maps issue have any impact on sales of the iPhone 5? I think everyone agrees that the five million devices sold over the first weekend – after it had been well-documented that the maps app was an issue – makes that a moot point. And let’s also differentiate between the maps and navigation. While of course the navigation relies on the accuracy of the maps, the turn-by-turn voice navigation and easy-to-read street signs are clearly an upgrade from Google. But yes, the accuracy is an issue and currently Google by far has the better overall maps app.

Further exacerbating this situation is the attention they covet and force upon themselves. You can’t hold press conferences and make a spectacle of a phone launch and then not expect the media and consumers to exploit issues when they develop. They set themselves up for this extra scrutiny in comparison to a more subtle launch; although, they were not going to hide this flaw and hope they could work out the issues by themselves before anyone found out.

What they do need to be concerned about is the loss of their total control and dominance over consumers. No longer will people follow them blindly and assume everything works perfectly, nor defend them as vigorously when issues arise. They will be like every other company that has to prove itself, even to its most loyal customers. Tech reviewers will spend more time trying to exploit glitches and imperfections. Apple can regain control by launching the next device with no significant issues, known or unknown, and position maps as a one-off issue and not a slippage in engineering, marketing, quality control or communications.

What could they have done better this time around? Simple: better manage expectations. More specifically, they should have: 1) Let people know maps was still in beta mode, just as Siri remains on the iPhone 5 after her prior introduction, and that only a full product introduction will allow them to work out the known kinks with the help and support of dedicated Apple users; and 2) They should have continued to offer Google Maps until the next iPhone comes out, at which time their own maps app should be able to stand on its own. Enacting one – and certainly both – of these management-expectation scenarios would have bought them more time and allowed them to stay in front of the situation instead of appearing to be caught off guard.

I’m sure a few people were fired and some new policies for product introductions will be put into place so this isn’t repeated in the future. Now if they could just control Foxconn." ~Brian (@bschaffer)

More opinions after the jump > Read the rest of this entry »

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