Posts tagged ‘Economy’

Crisis sounds so cool!

Johannes Kreidler – a music composer, has found an innovating way of using microsoft’s songsmith software. He has composed an economic failure medley using the songsmith. He has turned stock charts into music by assigning notes to points on a chart.

February 2, 2009 at 4:20 am Leave a comment

Steve’s email to Microsoft Employees

From: Steve Ballmer
Sent: Thursday, January 22, 2009 6:07 AM
Subject: Realigning Resources and Reducing Costs

In response to the realities of a deteriorating economy, we’re taking important steps to realign Microsoft’s business. I want to tell you about what we’re doing and why.

Today we announced second quarter revenue of $16.6 billion. This number is an increase of just 2 percent compared with the second quarter of last year and it is approximately $900 million below our earlier expectations.

The fact that we are growing at all during the worst recession in two generations reflects our strong business fundamentals and is a testament to your hard work. Our products provide great value to our customers. Our financial position is solid. We have made long-term investments that continue to pay off.

But it is also clear that we are not immune to the effects of the economy. Consumers and businesses have reined in spending, which is affecting PC shipments and IT expenditures.

Our response to this environment must combine a commitment to long-term investments in innovation with prompt action to reduce our costs.

During the second quarter we started down the right path. As the economy deteriorated, we acted quickly. As a result, we reduced operating expenses during the quarter by $600 million. I appreciate the agility you have shown in enabling us to achieve this result.

Now we need to do more. We must make adjustments to ensure that our investments are tightly aligned with current and future revenue opportunities. The current environment requires that we continue to increase our efficiency.

As part of the process of adjustments, we will eliminate up to 5,000 positions in R&D, marketing, sales, finance, LCA, HR, and IT over the next 18 months, of which 1,400 will occur today. We’ll also open new positions to support key investment areas during this same period of time. Our net headcount in these functions will decline by 2,000 to 3,000 over the next 18 months. In addition, our workforce in support, consulting, operations, billing, manufacturing, and data center operations will continue to change in direct response to customer needs.

Our leaders all have specific goals to manage costs prudently and thoughtfully. They have the flexibility to adjust the size of their teams so they are appropriately matched to revenue potential, to add headcount where they need to increase investments in order to ensure future success, and to drive efficiency.

To increase efficiency, we’re taking a series of aggressive steps. We’ll cut travel expenditures 20 percent and make significant reductions in spending on vendors and contingent staff. We’ve scaled back Puget Sound campus expansion and reduced marketing budgets. We’ll also reduce costs by eliminating merit increases for FY10 that would have taken effect in September of this calendar year.

Each of these steps will be difficult. Our priority remains doing right by our customers and our employees. For employees who are directly affected, I know this will be a difficult time for you and I want to assure you that we will provide help and support during this transition. We have established an outplacement center in the Puget Sound region and we’ll provide outplacement services in many other locations to help you find new jobs. Some of you may find jobs internally. For those who don’t, we will also offer severance pay and other benefits.

The decision to eliminate jobs is a very difficult one. Our people are the foundation of everything we have achieved and we place the highest value on the commitment and hard work that you have dedicated to building this company. But we believe these job eliminations are crucial to our ability to adjust the company’s cost structure so that we have the resources to drive future profitable growth. I encourage you to attend tomorrow’s Town Hall at 9am PST in Cafe 34 or watch the Webcast.

While this is the most challenging economic climate we have ever faced, I want to reiterate my confidence in the strength of our competitive position and soundness of our approach.

With these changes in place, I feel confident that we will have the resources we need to continue to invest in long-term computing trends that offer the greatest opportunity to deliver value to our customers and shareholders, benefit to society, and growth for Microsoft.

With our approach to investing for the long term and managing our expenses, I know Microsoft will emerge an even stronger industry leader than it is today.

Thank you for your continued commitment and hard work.

Steve

January 22, 2009 at 3:53 pm Leave a comment

DIFX renamed to Nasdaq Dubai

logo The Dubai International Financial Exchange (DIFX) has announced that it will be known as Nasdaq Dubai from November 20, after Nasdaq OMX, which runs the Nasdaq stock exchange in New York, decided to list its shares in the Dubai bourse.

The decision comes after Nasdaq OMX bought a one-third stake in DIFX in February. The remaining stock is owned by Bourse Dubai. The world’s largest exchange company, US-headquartered Nasdaq OMX owns and operates seven European stock exchanges in the Nordic and Baltic regions, apart from the New York bourse.

In a posting on its new website, Nasdaq Dubai said its region will include the United Arab Emirates and the rest of the Gulf Cooperation Council (GCC), the wider Middle East and North Africa, Turkey and the Indian subcontinent.

“Through the exchange, regional and international issuers can access regional and international investment. International issuers can access investment from the region, through a primary or dual listing,” the website posting read.

The new Dubai bourse rebranding is significant given the emerging importance of the Gulf in the face of the global financial crisis.

With strong liquidity boosted by surging oil revenues, Gulf countries are collectively emerging as key player in the world economic order.

November 18, 2008 at 1:19 pm Leave a comment

Bush

This is a popular internet joke. I couldn’t resist to post it here:

One sunny day in January, 2009 an old man approached the White House from Across Pennsylvania Avenue,

where he’d been sitting on a park bench. He spoke to the U.S. Marine standing guard and said,

“I would like to go in and meet with President Bush.”

The Marine looked at the man and said, “Sir, Mr. Bush is no longer president and no longer resides here.”

The old man said, “Okay”, and walked away.

The following day, the same man approached the White House and said to the same Marine,

“I would like to go in and meet with President Bush.”

The Marine again told the man, “Sir, as I said yesterday, Mr. Bush is no longer president and no longer resides here.”

The man thanked him and, again, just walked away.

The third day, the same man approached the White House and spoke to the very same U.S. Marine, saying

“I would like to go in and meet with President Bush.”

The Marine, understandably agitated at this point, looked at the man and said,

“Sir, this is the third day in a row you have been here asking to speak to Mr. Bush.

I’ve told you already that Mr. Bush is no longer the president and no longer resides here. Don’t you understand?”

The old man looked at the Marine and said,

“Oh, I understand. I just love hearing it.”

The Marine snapped to attention, saluted, and said,

“See you tomorrow, Sir.”
One More:

A French doctor says ‘Medicine in my country is so advanced that we can take a kidney out of one man, put it in another and have him looking for work in six weeks.’

A German doctor says ‘That is nothing; we can take a lung out of one person, put it in another, and have him looking for work in four weeks.

A Russian doctor says ‘In my country, medicine is so advanced that we can take half a heart out of one person, put it in another, and have them both looking for work in two weeks.’

The Texas doctor, not to be outdone, says ‘You guys are way behind, we recently took a man with no brains out of Texas, put him in the White House for eight years, and now half the country is looking for work!!!!!’


November 9, 2008 at 1:26 pm Leave a comment


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