Google Report

Dow Jones Company Report
Google Inc.
© 2009 Factiva, Inc. All rights reserved.

Table of Contents
Custom Report 4
General Information 4
Peer Comparison 4
Competition List from Reuters Research 5
Competition List from Datamonitor 5
Datamonitor Overview and History 5

Overview 5
History 5
Datamonitor Products and Services 7

Sales by Business Segment 7
Reuters Extended Business Description 8
Datamonitor Business Description 11
Officers and Executives 12

Board of Directors 12
Management Team and Key Personnel 12
Executive Biographies 12
Eric Schmidt Ph.D., Chairman of the Board, Chief Executive Officer 12
Patrick Pichette , Chief Financial Officer, Senior Vice President 12
Sergey Brin , President - Technology, Director 12
Larry Page , President - Products, Director 12
Nikesh Arora , President - Global Sales Operations and Business Development 12
David Drummond , Senior Vice President - Corporate Development, Chief Legal Officer, Secretary 12
Jonathan Rosenberg , Senior Vice President - Product Management 12
Shona Brown , Senior Vice President - Business Operations 12
Alan Eustace , Senior Vice President - Engineering & Research 12
Industry Classification 17
Datamonitor SWOT Analysis 18
Performance/Segment Information 21
Key Ratios 21
Key Financials 22
Geographic Segment Breakdown 23
Ratio Comparison Report 24
Balance Sheet - Annual 25
Cash Flow - Annual 27
Income Statement - Annual 28
Balance Sheet - Interim/Quarterly 29
Cash Flow - Interim/Quarterly 30
Income Statement - Interim/Quarterly 31

Latest News 32
Performance 38
Bankruptcy 51
Management Moves 58
Contracts/Orders 62
New Products/Services 70
Legal/Judicial 74
Ownership Changes 80
Press Releases 83
Trade Articles 90
Capacities/Facilities 93
Earnings 98
Mergers and Acquisitions/Ownership Changes 102
Bankruptcy 102
Performance 102
Corporate/Management Changes 103
New Products/Services 103
Funding/Capital 103
Regulation/Government Policy 104
Market Changes 104
Corporate Family 104

Dow Jones Company Report for Google Inc.
Custom Report
Custom Report
Business Summary Financials and Market News Key Developments Corporate Family
Peer Comparison Activity Latest News Mergers and Principal Subsidiary
Competition List from Performance/Segment Performance Acquisitions/Ownership Location
Reuters Research Information Bankruptcy Changes Subsidiary Location
Competition List from Key Ratios Management Moves Bankruptcy Branch Location
Datamonitor Financial Health Contracts/Orders Performance
Datamonitor Overview Geographic Segment New Products/Services Corporate/Management
and History Breakdown Legal/Judicial Changes
Datamonitor Products and Ratio Comparison Report Ownership Changes New Products/Services
Services Balance Sheet - Annual Press Releases Funding/Capital
Reuters Extended Cash Flow - Annual Trade Articles Regulation/Government
Business Description Income Statement - Capacities/Facilities Policy
Datamonitor Business Annual Earnings Market Changes
Description Balance Sheet -
Officers and Executives Interim/Quarterly
Industry Classification Cash Flow -
Datamonitor Company Interim/Quarterly
Statement Income Statement -
Datamonitor SWOT Interim/Quarterly
Analysis
General Information
Google Inc. Google Inc. maintains an index of Websites and other online content, and
makes this information freely available through its search engine to anyone with
1600 Amphitheatre Parkway an Internet connection. The Company’s automated search technology helps
Mountain View, CA 94043 people obtain nearly instant access to relevant information from its online index.
United States The Company generates revenue primarily by delivering online advertising.
Businesses use its AdWords program to promote their products and services with
Phone: 1-650-2530000 targeted advertising. In March 2008, the Company acquired Click Holding Corp.
Fax: 1-650-6181499 (DoubleClick), a company that offers online ad serving and management services
Web: http://www.google.com/ to advertisers, ad agencies and Web site publishers. In August 2008, the
Company sold the search marketing business of Performics, a division of
Ownership Type: Listed DoubleClick. In September 2008, Google Inc. bought Korea-based blogging
Primary Exchange: Consolidated Issue Listed on software developer Tatter and Company.
NASDAQ Global Select Market
DUNS Number: 060902413
Location Type: Headquarters

Global Ultimate: Google Inc.
Domestic Ultimate: Google Inc.
Immediate Parent: Google Inc.
This company has 94 family members
Auditor/Accountant: Ernst & Young LLP

Fiscal Year-End Date: 31-Dec-2008
Source: Reuters, Generate, Inc.
Peer Comparison
Peer Comparison
Dow Jones Industry: Internet Search Engines

Total Number of Companies: 27
Rank Company Name Sales USD m Employees Market Cap Net Income Net Profit
USD m USD m Margin
1 Google Inc. 21,795.55 20,222 127,225.30 4,226.86 19.39%
2 Yahoo! Inc. 7,208.50 13,600 20,550.52 424.30 -2.32%
3 Baidu, Inc. 468.49 6,387 8,631.12 153.53 32.77%
4 Sohu.com Inc. 429.05 3,197 2,141.70 158.64 36.96%
5 GOURMET NAVIGATOR INCORPORATED 156.51 897 561.80 15.11 9.22%
6 Marchex, Inc. 146.38 321 174.79 -127.87 -87.35%
7 Excite Japan Co., Ltd. 133.34 210 18.12 -19.94 -14.94%
8 MIVA, Inc. 116.36 129 11.57 -45.45 -38.72%
9 Rambler Media Limited 110.14 660 81.61 3.57 2.98%
10 Ifx Corporation 53.30 420 0.00 0.00 0.00%
Source: Reuters, D&B, Factiva
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Competition List from Reuters Research
Competition List from Reuters Research
Microsoft Corporation
Yahoo! Inc.
Source: Reuters Publication Date: 06-May-2009
Competition List from Datamonitor
Competition List from Datamonitor
Baidu.com
IAC Search and Media
LookSmart, Ltd.
Microsoft Corporation
NetEase.com, Inc.
SINA Corporation
Sohu.com Inc
Time Warner Inc.
Yahoo! Inc.
eBay Inc.
Source: DataMonitor
Datamonitor Overview and History

Overview
History
Datamonitor Overview and History
Overview
Google is a global technology leader focused on improving the ways people connect with information. Google maintains an index of
websites and other content, and makes this information freely available to anyone with an Internet connection. Its automated search
technology enables people to obtain instant access to relevant information through its online index. The company's innovations in web
search and advertising have made its web site a top internet destination and its brand one of the most recognized in the world. The
company is headquartered in Mountain View, California and employs approximately 16,800 people.
The company recorded revenues of $16,594 million in the fiscal year ended December 2007, an increase of 56.5% over 2006. The
growth in revenues was mainly due to increase in advertising revenues for Google web sites and Google Network web sites. The
operating profit of the company was $5,084.4 million during fiscal year 2007, an increase of 43.2% over 2006. Its net profit was $4,203.7
million in fiscal year 2007, an increase of 36.6% over 2006.
Google generates its revenues mainly through two business units: advertising (98.9% of the total revenues during fiscal year 2007), and
licensing and other (1.1%). The company's advertising, which includes revenues from Google web sites and Google Network web sites,
grew by 56.4% in 2007 due to an increase in the total number of paid clicks and ads displayed through its programs, rather than from
changes in the average fees paid by its advertisers.
Google is a provider of internet search engine services and targeted advertisement solutions. It owns
the leading internet search engine, Google.com.
The company's key products and services include the following:
Google.com:
Google WebSearch
Google Image Search
Google Book Search
Google Scholar
Google Base
Google Finance
Google News
Personalized Homepage and Search
Google Co-op and Custom Search
Google Video and YouTube
Communication, Collaboration and Communities:
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Google Docs & Spreadsheets

Google Calendar
Gmail
Google Groups
Orkut
Blogger
Google Reader
Downloadable applications:
Google Desktop
Google Pack
Google Toolbar
Picasa
Google GEO:
Google Earth
Google Maps
Google Sketchup and Sketchup Pro
Google Mobile:
Google Maps for Mobile

Blogger for Mobile
Google Gmail, News and Personalized Home for Mobile
GOOG-411
Android (mobile software platform)
Others:
Google Adwords
Google AdSense
Google Checkout
Google Labs
History
The history of Google dates back to the mid-90s when Stanford University graduate students Sergey Brin and Larry Page collaborated to
develop technology for a search engine. Mr. Brin and Mr. Page began collaboration on a search engine called BackRub, named for its
unique ability to analyze the back links pointing to a given website in 1996.
Two years later, Mr. Brin and Mr. Page raised $1 million in funding from private investors and venture firms to start Google. Google was
incorporated in 1998. It initially answered 10,000 search queries per day. By the end of 1998, PC Magazine named Google one of its Top
100 websites and search engines for 1998. Google moved its headquarters to University Avenue in Palo Alto, California in the beginning
of 1999. By this time, the company was answering 500,000 search queries per day. It received $25 million in equity funding from Sequoia
Capital and Kleiner Perkins Caufield & Byers. Also during this period, AOL/Netscape incorporated Google's search technology into its
Netcenter portal. Later that year, Google once again moved its headquarters to Mountain View, California. Google was also chosen by
Virgilio, a major Italian online portal, to provide Google WebSearch services in Italy.
The broad appeal of Google search became apparent when the site was awarded both a Webby Award and a People's Voice Award for
technical achievement in 2000. Google also forged partnerships with Yahoo, Chinese portal NetEase and NEC's Biglobe portal in Japan.
To extend its keyword-targeted advertising to smaller businesses, Google introduced AdWords, a self-service ad program that could be
activated online with a credit card. And in late 2000, to enhance users' power to search from anywhere on the web, Google introduced
the Google Toolbar. This browser plug-in made it possible to use Google search without visiting the Google homepage. It facilitated
search using the toolbar's search box along with right-clicking on text within a web page, as well as enabling the highlighting of keywords
in search results. It also introduced the first wireless search technology for WAP phones and handheld devices.
By late 2000, the company answered more than 60 million searches per day. Its index comprised more than 1.3 billion web pages.
Google acquired Deja.com's Usenet archive in 2001. It also released a wireless search technology specifically designed for i-mode
mobile phones in Japan. An agreement with Lycos, Korea brought Google search to a new group of Asian internet users. Google formed
a partnership with Universo Online, which made it Latin America's premier search engine. New sales offices were also opened in
Germany (Hamburg) and Japan (Tokyo) to meet growing international interest in Google's advertising programs. Later that year, country
domains were made available in the UK, Germany, France, Italy, Switzerland, Canada, Japan and Korea.
In the following year, the company launched Google Labs to develop new products. Its work-in-progress projects ranged from Google
Voice Search, enabling users to search on Google with a simple telephone call, to Google Sets, which generates complete sets (a list of
gemstones, say) from a few examples (topaz, ruby, opal), giving each member of the new set its own search link. Google also launched
its comparison online shopping service, Froogle, and news feeds, Google News in 2002. The company acquired Pyra Labs in 2003,
which helped Google launch Blogger in the same year. Furthermore, the Google AdSense program was launched in the same year.
Google announced plans to offer an e-mail service called Gmail in 2004. The company also unveiled its plans for an initial public offering
(IPO) of its stock through an online auction to raise around $2.7 billion. The company's IPO on the NASDAQ Stock Exchange took place
in August 2004. Google acquired Picasa, a California-based digital photo management company, in mid-2004. Google's desktop search,
a beta based web application, was launched later in 2004. At the same time, AOL Europe and Google announced a multi-year alliance
providing, the UK, France and German users, access to Google's targeted advertisement. Google subsequently acquired Keyhole, a
digital and satellite mapping company. Towards the end of 2004, the company launched Google Groups and Google Print. It also
announced agreements with the libraries of Harvard, Stanford, the University of Michigan, the University of Oxford and The New York
Public Library to digitally scan books from their collections so that users worldwide can search for them through Google.
The company launched several new offering in the year 2005 including Google Mini, a search appliance enabling small-to-medium
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businesses to access and manage their information; Picasa 2, free photo management software; Google Video; Google Maps; Google
Web Accelerator; Google Earth, a satellite imagery based mapping software; Google Sitemaps, Google Talk; Google Desktop; Google
Blog Search; and Google Base service, a service that allows users to post content that can be searched and viewed online.
In the same year, Google acquired several companies including Urchin Software, a web analytics company; SketchUp, a 3D drawing
system; Writely, a web-based collaborative word processor; and dMarc, an automated advertising system for the radio industry. The
company formed a strategic alliance with America Online (AOL) and Time Warner, under which it invested $1 billion for a 5% stake in
AOL. The deal also extended Google's search services on the AOL platform making it one of the company's key customers.
In 2006, Google continued to launch new products that included Google Video Store, an open video marketplace for consumers to buy
and rent a range of video content; Google Checkout, a merchant payment solution that enables online vendors to process customer
purchases, Google Docs & Spreadsheets, a web-based word-processing and spreadsheet product to create, manage, and share
documents and spreadsheets online.
The company also expanded its operations in Asia by establishing a presence in Delhi and Mumbai, India to complement its existing
centers in Bangalore and Hyderabad and launched services in China.
Google also expanded its strategic relations in 2006 which included a multi-year search technology and services agreement with News
Corporation's Fox Interactive Media to be the exclusive search and keyword targeted advertising sales provider for Fox Interactive
Media's growing network of web properties including MySpace.com. It also entered into a multi-year agreement with eBay to benefit both
companies' collective communities of users, merchants and advertisers. Under the agreement, Google will become the exclusive
text-based advertising provider for eBay outside the US. Google and eBay also plan to integrate and launch click-to-call advertising
functionality within eBay's US and international marketplaces and Google's search platform.
Google completed the acquisition of online video-sharing site, YouTube, for $1.6 billion in stock in 2006.
In January 2007, China Mobile, one of the largest mobile telecommunications carrier and Google, formed a partnership to provide mobile
and internet search services in China. In the same month, the company collaborated with Samsung to enable mobile phone users to
access Google's products and services directly from their Samsung mobile phones. In March 2007, Google began a limited beta test of
pay-per-action advertising, a new pricing model that allows advertisers to pay only when predetermined actions are completed on their
site. The pay-per-action model gives advertisers the option of paying when a customer makes a purchase, signs up for a newsletter, or
completes any other clearly defined action the advertiser chooses. The company also partnered with LG Electronics (LG), a provider of
advanced wireless handsets and accessories to pre-install Google's services on LG mobile phones.
Google entered into a partnership agreement with EchoStar Communications, in April 2007, to introduce an automated system for
buying, selling, delivering and measuring television ads on EchoStar DISH Network's 125 national satellite programming networks.
Google will have access to a portion of DISH Network's advertising inventory that spans across all channels and dayparts. In the same
month, Google announced a multi-year agreement with Clear Channel Radio to enable Google to sell a guaranteed portion of 30-second
advertising inventory available on more than 675 of Clear Channel's AM/FM stations.
In June 2007, Salesforce.com and Google formed a strategic alliance to introduce Salesforce Group Edition featuring Google AdWords.
This offering combined the Salesforce on-demand CRM applications with the Google AdWords platform for integrated sales and
marketing. In the same month, Google acquired Postini, a global leader in on-demand communications security and compliance solutions
serving more than 35,000 businesses and 10 million users worldwide. This acquisition was valued at $625 million in cash, subject to
adjustments; and Postini would become a wholly-owned subsidiary of Google following the acquisition.
In August 2007, Google launched Sky, a new feature that enables users of Google Earth to view the sky as seen from planet Earth. In
the same month, CNN.com and Google signed an agreement that enlists Google's AdSense advertising program to deliver site targeted
advertising to CNN.com. In October 2007, Postini's email security and compliance services have been added to Google Apps Premier
Edition. In the same month, The Nielsen Company and Google have established a multi-year, strategic relationship. The relationship will
leverage Nielsen's experience in television audience measurement to bring demographic data to the Google TV Ads advertising platform.
In November 2007, MySpace, one of the world's largest social network, and Google collaborated to launch OpenSocial, a set of common
APIs for building social applications across the web. Subsequently, Google along with an alliance of leading technology and wireless
companies including T-Mobile, HTC, Qualcomm, Motorola and others announced the development of Android, a first complete, open,
and free mobile platform. In the following month, Google released a new iPhone application that integrates its multiple services into a
single interface, making it easy for iPhone users to find, use and switch between Google search, Gmail, Calendar, Reader, and other
Google software.
In January 2008, Google released the iGoogle Themes API, a services which allows user to custom design their Google webpage. In the
next month, Nokia and Google announced that Google's search engine will be integrated with the Nokia Search application. The
integration will begin in select markets with the Nokia N96, Nokia N78, Nokia 6210 Navigator and Nokia 6220 classic. Subsequently,
Google introduced Google Sites, an application that makes creating a team web site as easy as editing a document.
In March 2008, Google acquired DoubleClick, a company that offers online ad serving and management technology to advertisers, web
publishers and ad agencies, for $3.1 billion in cash from San Francisco-based private equity firm Hellman & Friedman along with JMI
Equity and management. Subsequently, Yahoo!, MySpace, and Google entered into an agreement to form the OpenSocial Foundation to
ensure the neutrality and longevity of OpenSocial as an open, community-governed specification for building social applications across
the web.
In April 2008, Google released a preview of Google App Engine, an application-hosting tool that developers can use to build scalable
web apps on top of Google's infrastructure. The company's goal in launching this service is to make it easier for web developers to build
and scale applications, instead of focusing on system administration and maintenance.
In May 2008, Sprint and Google announced a partnership to integrate Google applications and services with Sprint's offerings. As part of
the partnership, Google will become Sprint's preferred mobile search provider and Sprint users will have access to Google Maps and
other Google services. In June 2008, Google entered into an agreement giving Yahoo! the ability to use Google's search and contextual
advertising technology through its AdSense for Search and AdSense for Content advertising programs.
Source: DataMonitor
Datamonitor Products and Services

Sales by Business Segment
Datamonitor Products and Services
Page 7 of 108
Sales by Business Segment
Google is a provider of internet search engine services and targeted advertisement solutions. It owns the leading internet search engine,
Google.com.
The company's key products and services include the following:
Google.com:
Google WebSearch
Google Image Search
Google Book Search
Google Scholar
Google Base
Google Finance
Google News
Personalized Homepage and Search
Google Co-op and Custom Search
Google Video and YouTube
Communication, Collaboration and Communities:
Google Docs & Spreadsheets
Google Calendar
Gmail
Google Groups
Orkut
Blogger
Google Reader
Downloadable applications:
Google Desktop
Google Pack
Google Toolbar
Picasa
Google GEO:
Google Earth
Google Maps
Google Sketchup and Sketchup Pro
Google Mobile:
Google Maps for Mobile
Blogger for Mobile
Google Gmail, News and Personalized Home for Mobile
GOOG-411
Android (mobile software platform)
Others:
Google Adwords
Google AdSense
Google Checkout
Google Labs
Source: DataMonitor
Reuters Extended Business Description
Reuters Extended Business Description
Google Inc., incorporated in September 1998, maintains an index of Websites and other online content, and makes this information freely
available through its search engine to anyone with an Internet connection. The Company’s automated search technology helps people
obtain nearly instant access to relevant information from its online index. The Company generates revenue primarily by delivering online
advertising. Businesses use its AdWords program to promote their products and services with targeted advertising. In addition, the
thousands of third-party Websites that comprise the Google Network use its AdSense program to deliver relevant ads that generate
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revenue and enhance the user experience. In March 2008, the Company acquired Click Holding Corp. (DoubleClick), a company that
offers online ad serving and management services to advertisers, ad agencies and Web site publishers. In August 2008, the Company
sold the search marketing business of Performics, a division of DoubleClick. In September 2008, Google Inc. bought Korea-based
blogging software developer Tatter and Company.
Google.com
Google Web Search enables people find what they are looking for on the Web. The Google.com search experience also includes
advanced search functionality, which enables users to construct complex queries; Web page translation, which supports 41 languages
and automatically translates between any two of these languages, with a total of 1,640 language translation pairs; integrated tools, such
as a spell checker, a calculator, a dictionary and currency and measurement converters; search by number, which lets users do quick
searches by entering shipping tracking numbers, vehicle identification numbers, product codes, telephone area codes, patent numbers,
airplane registration numbers and electronic equipment identification government numbers; cached links, which provides snapshots of
Web pages taken when the pages were indexed, letting users view Web pages that are no longer available; movie, music and weather
information, which enables users to find movie reviews and show times, information about artists, songs and albums and weather
conditions and forecasts, and news, finance, maps, image, video, book, blogs and groups information. It also displays results from other
Google products, including Google News, Google Finance, Google Maps, Google Image Search, Google Video, Google Book Search,
Google Blog Search and Google Groups. Google Image Search is the Company’s searchable index of images found across the Web. It
offers advanced features, such as searching by image size, format and coloration, and restricting searches to specific Websites or
domains. Google Book Search lets users search the full text of a library-sized collection of books to discover books of interest and to
learn where to buy or borrow them. Through this program, publishers can host their content and show their publications at the top of its
search results. Google Scholar provides a way to do a search for relevant scholarly literature, including peer-reviewed papers, theses,
books, abstracts and articles. Content in Google Scholar is taken from academic publishers, professional societies, preprint repositories,
universities and other scholarly organizations.
Google Finance provides a user interface to navigate complex financial information in an intuitive manner, including linking together
different data sources, such as correlating stock price movements to news events. Google News gathers information from thousands of
news sources worldwide and presents news stories in a searchable format within minutes of their publication on the Web. Google Video
lets users upload, find, view and share video content worldwide.
Google Blog Search enables users to search the blogging universe and find out users’ opinions on a variety of subjects. The Google Blog
Search index includes every blog that publishes a site feed. iGoogle includes Personalized Search, which gives its users search results
based on what they have searched for in the past. Users can also view and manage their history of past searches and the results they
have clicked on, and create bookmarks with labels and notes.
Google Product Search helps users find and compare products from online stores across the Web and directs users to where they can
buy these products. Users can search for product information that is submitted electronically by sellers or automatically identified by
Google software. Google Custom Search allows communities of users familiar with particular topics to build customized search engines.
Google Base lets content owners submit content that they want to share on Google Websites. Google Webmaster Tools provides
information to Webmasters to help them enhance their understanding of how their Websites interact with the Google search engine.
Applications
Google Docs allows the Company’s users to create, view and edit documents, spreadsheets, and presentations from anywhere using a
browser. Google Calendar is a free online shareable calendar service that allows its users to keep track of the important events,
appointments and special occasions in their lives and share this information with anyone they choose. In addition, Websites and groups
with an online presence can use Google Calendar to create public calendars, which are automatically indexed and searchable on
Google. Gmail is Google’s free Webmail service that comes with built-in Google search technology to allow searching of emails and over
seven gigabytes of storage, allowing users to keep their important messages, files and pictures.
Google Groups is a free service that helps groups of people connect to information and people that interest them. Users can discuss
topics by posting messages to a group, where other people can then read and respond. Google Reader is a free service that lets users
subscribe to feeds and receive updates from multiple Websites in a single interface. Google Reader also allows users to share content
with others, and function with many types of media and reading-styles. orkut enables users to search and connect to other users through
networks of trusted friends. Users can create a profile, personal mailboxes, post photos and join or manage online communities. Blogger
is a Web-based publishing tool that lets people publish to the Web instantly using Weblogs (blogs). Blogs are Web pages usually made
up of short, informal and frequently updated posts that are arranged chronologically.
Google Sites allows users to create, update and publish content online without technical expertise, with control over who can see and
update the site. Google Sites supports a variety of information, such as videos, calendars, presentations, spreadsheets, discussions and
texts. YouTube is an online community that lets users worldwide upload, share, watch, rate and comment on videos. YouTube is also a
video platform providing general purpose video resources to the Web community. YouTube videos are embedded in blogs, social
networks and Web applications, and YouTube programming interfaces are utilized by many registered developers to create third-party
products and services. In addition, YouTube offers a range of video and interactive formats for advertisers to reach their intended
audience.
Client
Google Toolbar is a free application that adds a Google search box to Web browsers (Internet Explorer and Firefox) and improves
people’s Web experience through features, such as a pop-up blocker that blocks pop-up advertising, an autofill feature that completes
Web forms with information saved on a user’s computer and customizable buttons that let users search their favorite Websites and stay
updated on their favorite feeds. Google Chrome is an open-source browser that combines a minimal design with technologies to enable
web navigation. Google Pack is a free collection of safe, useful software programs from Google and other companies that improve the
user experience online and on the desktop. It includes programs that help users browse the Web faster, remove spyware and viruses.
Picasa is a free service that allows users to view, manage and share their photos. Picasa enables users to import, organize and edit their
photos, and upload them to Picasa Web Albums where the photos can be shared with others on the Internet. Google Desktop lets people
perform a full-text search on the contents of their own computer, including e-mail, files, instant messenger chats and Web browser
history. Users can view Web pages they have visited even when they are not online. Google Desktop also includes a customizable
Sidebar that includes modules for weather, stock tickers and news.
Google GEO
Google Earth lets users see and explore the world and beyond from their desktop. Users can fly virtually to a specific location and learn
about that area through detailed satellite and aerial images, three-dimensional (3D) topography, street maps and millions of data points
describing the location of businesses, schools, parks and other points of interest around the globe. Google Earth includes Sky, an
astronomical imagery library with images of over 100 million stars and 200 million galaxies, and Ocean, with a detailed bathymetric map
of the earth’s ocean floors. Google Maps helps people navigate map information. Users can look up addresses, search for businesses,
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and get point-to-point driving directions, all plotted on an interactive street map or on satellite imagery. Google Maps includes
360-degree, street-level imagery in regions around the world, and Google Transit, which provides up-to-date information on local transit
options in many cities. Google Sketchup is a free tool that enables users to model buildings in 3D, and can be used as a tool for
populating Google Earth with architectural content. The Pro version of this tool is sold to professional designers and includes additional
features.
Google Mobile and Android
Google Mobile lets people search and view both the mobile Web, consisting of pages created specifically for wireless devices, and the
entire Google index. Users can also access online information using Google SMS by typing a query to the Google shortcode and
checking their e-mail using Gmail Mobile. Google Mobile is available through many wireless and mobile phone services worldwide.
Google Maps for Mobile is a free Java client application that lets users view maps and satellite imagery, find local businesses and get
driving directions on mobile devices. Google Maps for Mobile offers many of the same functions as Google Maps, including draggable
maps combined with satellite imagery. In addition, the My Location feature allows users to view their approximate location on the map.
With Blogger for mobile devices, users can take pictures with their camera phones and then post their pictures and text comments to
their blog using multimedia messaging service (MMS) or e-mail. Several of the Company’s services, such as Gmail, News and
Personalized Home are also available as mobile applications. GOOG-411 is a free speech-enabled application allowing users to call
1-800-GOOG-411 to search for businesses by name or category. Android is an open-source and free mobile software platform, which
allows developers to create applications for mobile devices and for handset manufacturers to install. Search by Voice lets users do a
Google Web search just by saying what they are looking for. Search results are formatted to fit phone screens. Search by Voice is
available for the iPhone and Android phones.
Google Checkout
Google Checkout is a service for the Company’s users, advertisers and participating merchants that is intended to make online shopping
faster, convenient and secure by providing a single login for buying online and helping users find places to shop when they search. For
merchants, Google Checkout is integrated with AdWords.
Google Labs
Google Labs is Google’s test bed for its engineers and adventurous Google users. On Google Labs, the Company posts product
prototypes and solicit feedback on how the technology could be used or improved. Google Labs examples include Picasa for Mac, a
software that allows Mac users to organize, edit, create, and share photos; In Quotes, a feature that allows users to find quotes from
stories linked to Google News, and Google Audio Indexing, a new technology that allow users to find spoken words inside videos and
jump to the right portion of the video where these words are spoken.
Google AdWords
Google AdWords is an auction-based advertising program that lets advertisers deliver relevant ads targeted to search queries or Web
content across Google sites and through the Web sites of its Google Network, which is the network of online and offline third parties that
use its advertising programs to deliver relevant ads with their search results and content. AdWords is accessible to advertisers in 41
different interface languages. Advertisers in the AdWords program create text-based or display ads, bid on the keywords that will trigger
the display of their ads and set daily spending budgets. AdWords features an automated online signup process that lets advertisers
implement ad campaigns on Google properties and the Web sites of its Google Network members. Ads are ranked for display in
AdWords based on a combination of the maximum cost-per-click pricing set by the advertiser, and click-through rates and other factors
used to determine the relevance of the ads.
The AdWords program offers advertisers return on investment, branding, access to the Google search and content network, and
campaign control, among others. For large advertisers, as well as third parties, Google’s free AdWords application programming interface
(API) service lets developers engineer computer programs that interact directly with the AdWords system. The AdWords Commercial
Developer Program also enables its third-party developer ecosystem to continue designing and delivering business applications based
on the AdWords platform and distribution channel. AdWords is available on a self-service basis with email and real-time chat support.
Google AdSense
Google AdSense program enables Websites that are part of the Google Network to deliver AdWords ads that are relevant to the search
results or content on their pages. It also allows offline media companies, such as newspaper and radio stations, to deliver print ads and
audio ads to the content they provide. The Google AdSense program includes Google AdSense for Search for Internet companies that
want to target search audiences; Google AdSense for Content, which lets Websites generate revenue from advertising by serving
relevant AdWords ads targeted to Web content, and Google AdSense for Domains and Feeds, which allows owners of undeveloped
domains that receive traffic from users typing generic terms into browsers or search to generate revenue from relevant advertising.
The Google AdSense program also includes Google Television Ads, which is a product that allows advertisers to use their AdWords
account to create television campaigns. Advertisers can use its online advertising platform to place and monitor their television ads.
Google AdSense for Audio and Audio Ads is an early-stage product for radio broadcasters that automatically schedules and places
advertising into radio programs. Google Audio Ads makes radio advertising easier for small and large businesses by providing an online
interface for creating and launching radio advertising campaigns.
Display Advertising
Display advertising is Internet advertising that includes static or animated images, as well as interactive audio or video media, such as
the banner ads seen on the tops or sides of many Web sites. It also offers advertising solutions on YouTube in a range of video, static or
animated images, and interactive formats.
Google Enterprise
Google provides its search technology for use within enterprises through the Google Search Appliance and Google Mini. These search
appliances are a software and hardware solution that companies can implement to extend Google’s search performance to their internal
or external information. Google Apps provides hosted communication and collaboration tools for organizations, such as businesses,
schools and groups. Google Apps includes communication features, such as Gmail, Google Calendar, Google Video, Google Sites and
Google Talk, and collaboration features, such as Google Docs. It is available on an organization’s own domain. Google Apps is available
in Standard and Premier Editions, with the Premier Edition providing security and compliance features allowing administrators to
implement rules for how messages are handled, as well as search for and recover deleted mail across their domain.
The Google Mini is targeted at small and medium-sized businesses who want to let employees and customers search designated
documents, intranets and Websites. The Google Search Appliance is similar to the Google Mini except that it can handle more
documents and offers more advanced features. The Google Search Appliance is available in three models: the GB-1001, for mid-sized
companies; the GB-5005, for dedicated, high-priority search services, such as customer-facing Websites and company-wide intranet
applications, and the GB-8008, for centralized deployments supporting global business units.
Page 10 of 108
For companies, universities and government agencies, the Company also offers the Google Toolbar for Enterprise and Google Desktop
for Enterprise. Google Toolbar gives employees a search box in the browser and the ability to create custom search buttons. Google
Desktop for Enterprise indexes the contents of a user’s hard drive for easy search and retrieval of documents, e-mail, instant messaging
(IM) chats and other items. Google Earth’s Enterprise offerings let business users view, modify and export their data in a geographic
context. Google Earth Pro, a downloadable application lets users overlay company-specific data and information in Google Earth. Google
Earth Enterprise lets users integrate and host geographic data or satellite imagery with Google Earth content.
The Company competes with Microsoft Corporation and Yahoo! Inc.
Datamonitor Business Description
Datamonitor Business Description
Google is one of the leading internet search engines in the world. It specializes in internet search engines and related advertising
services. The company operates in the US, the UK and a large number of other countries. Google offers its services and products free of
charge through Google.com and its 160 other international domains, such as Google.ba, Google.dm, Google.nr, Google.co.jp and
Google.ca. The Google interface is available in more than 117 languages.
The company generates revenue primarily by delivering online advertisements. Businesses use its AdWords program to promote their
products and services with targeted advertising. In addition, third-party website providers who are part of Google Network use Google's
AdSense program to deliver relevant advertisements that generate revenue. Google AdWords enables advertisers to reach people when
they are searching for information related to what the advertiser has to offer. Advertisers use its automated tools to create text-based
advertisements. They bid on the keywords that will trigger the display of their advertisements and set daily spending budgets. AdWords
features an automated, online signup process that enables advertisers to implement advertisement campaigns that go live on Google
properties and the Google Network. Ads are ranked for display in AdWords based on a combination of the maximum cost per click set by
the advertiser and click-through rates and other factors used to determine the relevance of the ads.
For large advertisers, as well as third parties, Google's free AdWords API (application programming interface) service lets developers
engineer computer programs that interact directly with the AdWords system. For example, AdWords Editor, its AdWords campaign
management client, and Google Analytics, the free Web analytics tool are designed to enable Website operators understand how users
navigate their sites. Recent advertisers include Sony, Cisco, Alamo Car Rental, Ameritrade, Amazon.com, Canon, Disney, General
Motors, L.L. Bean, Nordstrom, Sears, Smith & Hawken, Sprint, Volvo and Xerox.
AdWords is currently offered on a cost-per-click and cost-per-impression basis. Under the cost-per-click program, advertisers pay Google
each time a user clicks on any of the text-based ads that appear next to the search results on Google's web sites, or next to the search
results or content on Google Network members' sites. The AdWords cost-per-impression program allows advertisers to pay Google
based on the number of times their ads appear on Google Network member sites.
Under the Google AdSense program, the company distributes advertisements for display on the web sites of Google network members.
Targeting can be based on content, search, site and demographics. Google shares the revenue generated from advertisements with
members of the Google Network.
The company also offers Google AdSense for search, content, domains and feeds, audio and audio ads, newspapers and print ads and
TV Ads. AdSense for search distributes advertisements for display with the search results that are obtained on the Google Network sites
through Google search. To use this service, the company's search partners add Google search functionality to their web pages in the
form of customizable Google search boxes. The visitors of the website search either the web site or the internet using these customizable
search boxes and the company displays relevant ads on the search results pages, targeted to match user search queries.
AdSense for content allows websites to generate revenue from advertising by serving relevant AdWords ads targeted to specific web
content. Under this program, the company uses automated technology to analyze the meaning of the content on the web site and serve
relevant ads based on the meaning of the content. This service includes features like competitive ad filters, customizable performance
reports, sensitive content filters, and default ads.
AdSense for domains and feeds allows owners of undeveloped domains that receive traffic from users typing generic terms into browsers
or search to generate revenue from relevant advertising.
Google AdSense for audio and audio ads is an early-stage product for radio broadcasters that automatically schedules and places
advertising into radio programs, with the objective of increasing revenue for broadcasters by making their ad inventory available to new
advertisers and decreasing the costs associated with processing advertisements. Google Audio Ads makes radio advertising easier for
small and large businesses by providing an online interface for creating and launching radio advertising campaigns.
Google AdSense for newspapers and print ads is an early-stage product that lets newspaper publishers identify and manage available ad
inventory and access bids submitted by advertisers who use Google print ads to create and launch their print campaigns. Google print
ads makes it easier for advertisers to place advertisements in newspapers by simplifying the evaluation and selection of newspapers for
print advertising campaigns, letting advertisers set their own prices and providing an online interface to create and upload ads and view
electronic versions of published ads.
Google TV Ads is also an early-stage product that allows advertisers to use their AdWords account to create TV campaigns. Advertisers
can use Google's online advertising platform to place and monitor the effectiveness of their TV ads, enhancing relevance and
accountability as compared to traditional TV advertising.
Google offers a broad portfolio of web based products and services which are classified into six categories: Google.com; communication,
collaboration and communities; downloadable applications; Google GEO; Google Checkout; Google Mobile; and Google Labs.
Google.com includes a web search which provides access to billions of web pages and has integrated special features to help people
find exactly what they are looking for on the web. The Google.com search experience also includes items like advanced search
functionality; automatic translation of web page into 12 languages; integrated tools like spell checker, calculator, dictionary, and currency
and measurement converters; number search, stored/cached web pages; and movie, music and weather information. It also displays
results from other Google products including Google News, Google Finance, Google Maps, Google Image Search, Google Book Search
and Google Groups.
Google also offers specific search features on Google Search including image search, book search, Google Scholar, Google Base,
Google Webmaster Tools, Google Finance, Google News, Google Co-op and Custom Search, and Google Video and YouTube.
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Google Scholar enables search for relevant literature including peer-reviewed papers, theses, books, abstracts, and articles. Content in
Google Scholar is sourced from academic publishers, professional societies, preprint repositories, universities and other organizations.
Google Base allows content owners submit content that they want to share on Google web sites. Google Webmaster tools provide
information to webmasters to help them enhance their understanding of how their web sites interact with the Google search engine.
Google Finance provides a simple user interface for financial information including links between different data sources, such as
correlating stock price movements to news events.
Google News gathers information from news sources worldwide and presents news stories in a searchable format on the web.
Google co-op and custom search allows the combination of Google's algorithms with the context, knowledge and expertise of individuals.
Google Video and YouTube allow users to find, upload, view and share video content online.
Google's communication, collaboration and communities unit is involved in developing tools for users to create, share and communicate
any information generated by a user. Some of these types of products include Gmail, Google Docs, Google Calendar, Google Reader,
orkut, and Blogger.
Gmail is Google's free e-mail service that comes with a built-in Google search technology to allow easy searching of emails. In addition,
the company has also integrated its instant messaging product into Gmail.
Google Docs allows users to create, view and edit documents, spreadsheets, and presentations from anywhere using a browser.
Google Calendar is a free online shareable calendar service that allows users to keep track of important events, appointments and
special occasions in their lives and share this information with anyone they choose.
Google Groups is a free service that allows people to connect to other people and special information in which they are interested in.
Google Reader is a free service that allows users to subscribe to feeds and receive updates from multiple web sites in a single interface.
Orkut enables users to search and connect to other users through networks of friends.
Blogger is a web-based publishing tool that allows users to publish on web instantly using weblogs (blogs). Blogs are web pages usually
made up of short, informal and frequently updated posts that are arranged chronologically.
The company's downloadable applications include Google Desktop, Google Pack, Google Toolbar and Picasa.
Google Desktop allows users to perform a full-text search on the contents of their own computer, including email, files, instant messages
and web browser history.
Google Pack is a free collection of safe, useful software programs from Google and other companies including programs that enable
faster web browsing, remove spyware and viruses, and organize photos.
Google Toolbar is a free download that adds a Google search box to web browsers and adds features like a pop-up blocker, autofill and
customizable buttons.
Picasa is a free service that allows users to view, manage and share their photos.
Google GEO includes the company's maps, earth and local information offerings. Google Earth is a tool that allows users to see and
explore the globe. It allows users to fly virtually to a specific location and learn about that area through satellite and aerial images, 3D
topography, street maps and data points describing the location of businesses, schools, parks and other points of interest. Google Earth
also includes Sky, an astronomical imagery library with images of over 100 million stars and 200 million galaxies.
Google Maps offers navigation information for users. By using this, users can look up addresses, search for businesses, and get
point-to-point driving directions. Google Maps includes 360-degree street-level imagery in several cities. Google Maps also provides a
search facility which combines yellow-pages listings with ratings and reviews and other business information.
Google Sketchup is a free tool that allows users to model buildings in 3D, and populate Google Earth with architectural content. The Pro
version, which includes additional features, is sold to professional designers.
Google Checkout is a service for the company's users, advertisers and participating merchants intending to make online shopping faster,
convenient and secure. This service provides a single login for online shopping and helps users to find convenient and secure places to
shop. For merchants, Google Checkout is integrated with AdWords to allow advertisers attract leads, convert leads to sales and process
it.
Google Mobile is a software that allows mobile users to search and view both the wireless devices content, and the entire Google index.
It also gives access to online information using Google SMS by typing a query to the Google shortcode and checking their email using
Gmail Mobile. Following are the other facilities available through Google Mobile:
Google Maps for Mobile is a free downloadable Java client application that lets users view maps and satellite imagery, find local
businesses and get driving directions on mobile devices. In addition, the My Location feature allows users to view their approximate
location on the map.
The company's other services like Gmail, News and Personalized Home for Mobile are also available as mobile applications.
GOOG-411 is a free speech-enabled application allowing users to call 1-800-GOOG-411 to search for businesses by name or category.
Android is Google's open-source and free mobile software platform. This platform allows developers to create applications for mobile
devices. Android is being developed with the Open Handset Alliance, a group of more than 30 technology and mobile companies, with
the goal of providing consumers a less expensive and richer mobile experience.
Google Labs is the company's testing platform for its engineers and users. On Google Labs the company posts product prototypes and
solicit feedback on how the technology could be used or improved.
Source: DataMonitor
Officers and Executives

Board
Management
Executive
of
Biographies
Team
Directors
and Key
Eric
Patrick
Sergey
Larry
Nikesh
David
Jonathan
Shona
Personnel
Alan
Schmidt
Eustace
Page
Drummond
Brown
Brin
Pichette
Arora
Rosenberg
,
,
Ph.D.,
,
,
,
,
,
,
President
President
Senior
President
Senior
Chief
Senior
Chairman
Senior
Vice
Vice
-
-
Financial
-
Vice
Vice
of
Products,
Technology,
Global
President
President
President
Officer,
the
President
Sales
Director
-
Board,
-
Director
Senior
-
-
Engineering
Business
Operations
Corporate
Chief
Product
Vice
Operations
Executive
and
&
Management
Development,
President
Research
Business
Officer
Chief
Development
Legal Officer, Secretary
Officers and Executives
Board of Directors
Page 12 of 108
Name Job Title

Eric Schmidt Ph.D. Chairman of the Board, Chief Executive Officer
Education:
Institution Degree Major Year Degree Attained

University of California, Berkeley Other Computer Science N/A
University of California, Berkeley Graduate Computer Science N/A
Princeton University Undergraduate Electrical Engineering N/A
Biography:
Mr. Eric Schmidt has served as Chief Executive Officer of Google Inc. since July 2001 and served as Chairman of Board of Directors of
Google Inc. from March 2001 to April 2004 and again from April 2007 to the present. In April 2004, Eric was named Chairman of the
Executive Committee of the board of directors. Prior to joining the company, from April 1997 to November 2001, Eric served as
Chairman of the board of Novell, a computer networking company, and, from April 1997 to July 2001, as the Chief Executive Officer of
Novell. From 1983 until March 1997, Eric held various positions at Sun Microsystems, a supplier of network computing solutions,
including Chief Technology Officer from February 1994 to March 1997 and President of Sun Technology Enterprises from February 1991
until February 1994. Eric is also a Director of Apple Inc., an electronic device company. Eric has a Bachelor of Science degree in
Electrical Engineering from Princeton University and a Masters degree and Ph.D. in Computer Science from the University of California
at Berkeley.
Sergey Brin President - Technology, Director
Education:

Stanford University Graduate Computer Science N/A
University of Maryland Undergraduate Computer Science and N/A
Mathematics
Biography:
Mr. Sergey Brin is President - Technology, Director of Google Inc. He is one of founders, has served as a member of board of directors
of Google Inc. since inception in September 1998 and as President of Technology since July 2001. From September 1998 to July 2001,
Sergey served as President. Sergey holds a Masters degree in Computer Science from Stanford University and a Bachelor of Science
degree with high honors in Mathematics and Computer Science from the University of Maryland at College Park.
Larry Page President - Products, Director
Education:

University of Michigan Undergraduate Engineering N/A
Biography:
Mr. Lawrence Page, one of founders, has served as a member of board of directors of Google Inc. since inception in September 1998
and as President of Products since July 2001. Larry served as Chief Executive Officer from September 1998 to July 2001 and as Chief
Financial Officer from September 1998 to July 2002. Larry holds a Masters degree in Computer Science from Stanford University and a
Bachelor of Science degree in Engineering, with a concentration in Computer Engineering, from the University of Michigan.
John Hennessy Lead Independent Director
Education:

State University of New York at Other Computer Science N/A
Stony Brook
State University of New York at Graduate Computer Science N/A
Stony Brook
Villanova University Undergraduate Electrical Engineering N/A
Biography:
John L. Hennessy has served as a member of the board of directors of Google Inc. since April 2004 and as Lead Independent Director
since April 2007. Since September 2000, John has served as the President of Stanford University. From 1994 to August 2000, John held
Page 13 of 108
various positions at Stanford, including Dean of the Stanford University School of Engineering and Chair of the Stanford University
Department of Computer Science. John has been a member of the board of directors of Cisco Systems, Inc., a networking equipment
company, since January 2002 and chairman of the board of directors of Atheros Communications, Inc., a wireless semiconductor
company, since May 1998. John holds a Master’s degree and a Doctoral degree in computer science from the State University of New
York, Stony Brook and a Bachelor of Science degree in electrical engineering from Villanova University.
L. John Doerr Director
Education:

William Marsh Rice University Graduate Electrical Engineering N/A
William Marsh Rice University Undergraduate Electrical Engineering N/A
Harvard University Graduate N/A N/A
Biography:
L. John Doerr has served as a member of the board of directors of Google Inc. since May 1999. John has been a General Partner of
Kleiner Perkins Caufield & Byers, a venture capital firm, since August 1980. John is also a director of Amazon.com, Inc., an Internet
retail company, and Move, Inc., a provider of real estate media and technology solutions. John was a director of Intuit Inc., a provider of
business and financial management software, until November 2007. John holds a Masters of Business Administration degree from
Harvard Business School and a Masters of Science degree in electrical engineering and computer science and a Bachelor of Science
degree in electrical engineering from Rice University.
Art Levinson Ph.D. Director
Education:

Princeton University Other Biochemistry N/A
University of Washington Undergraduate Molecular Biology N/A
Biography:
Arthur D. Levinson has served as a member of the board of directors of Google Inc. since April 2004. Since July 1995, Art has served as
the Chief Executive Officer and as a member of the board of directors of Genentech, Inc., a biotechnology company, and has served as
its chairman since September 1999. Prior to 1999, Art held various executive positions at Genentech, including Senior Vice President of
R&D. Art has been a member of the board of directors of Apple Inc., a designer, manufacturer and marketer of personal computers and
related products, since 2000. Art was a Postdoctoral Fellow in the Department of Microbiology at the University of California, San
Francisco. Art holds a Ph.D. in biochemistry from Princeton University and a Bachelor of Science degree in molecular biology from the
University of Washington.
Paul Otellini Director
Education:

University of California, Berkeley Graduate N/A 1974
University of San Francisco Undergraduate Economics 1972
Biography:
Paul S. Otellini has served as a member of the board of directors of Google Inc. since April 2004. Paul has served as the Chief
Executive Officer and President of Intel Corporation, a semiconductor manufacturing company, since May 2005. Paul has been a
member of the board of directors of Intel since 2002. He also served as Intel’s Chief Operating Officer from 2002 to May 2005. From
1974 to 2002, Paul held various positions at Intel, including Executive Vice President and General Manager of the Intel Architecture
Group and Executive Vice President and General Manager of the Sales and Marketing Group. Paul holds a Master’s degree from the
University of California at Berkeley and a Bachelor’s degree in economics from the University of San Francisco.
Kavitark Shriram Director
Education:

University of Madras Undergraduate N/A N/A
Biography:
Page 14 of 108
K. Ram Shriram has served as a member of the board of directors of Google Inc. since September 1998. Since January 2000, Ram has
served as managing partner of Sherpalo, an angel venture investment company. Prior to that, from August 1998 to September 1999,
Ram served as Vice President of Business Development at Amazon.com, Inc., an Internet retail company. Prior to that, Ram served as
President at Junglee Corporation, a provider of database technology, acquired by Amazon.com in 1998. Ram was an early member of
the executive team at Netscape Communications Corporation. Ram holds a Bachelor of Science degree from the University of Madras,
India.
Shirley Tilghman Ph.D. Director
Education:

Temple University Other Biochemistry N/A
Queens University Undergraduate Chemistry N/A
Biography:
Shirley M. Tilghman has served as a member of the board of directors of Google Inc. since October 2005. Since June 2001, Shirley has
served as the President of Princeton University. From August 1986 to June 2001, she served as a Professor at Princeton University and
from August 1988 to June 2001 as an Investigator at Howard Hughes Medical Institute. Shirley holds a Ph.D. in biochemistry from
Temple University and an Honors Bachelor of Science degree in chemistry from Queen’s University.
Ann Mather Director
Education:

University of Cambridge Graduate N/A N/A
Biography:
Ann Mather has served as a member of the board of directors of Google Inc. since November 2005. Since September 2005, Ann has
been a director of Glu Mobile Inc., a publisher of mobile games, and serves as chair of its audit committee. Since April 2004, Ann has
been a director of Central European Media Enterprises Group, a developer and operator of national commercial television channels and
stations in Central and Eastern Europe, and serves on its audit committee. Ann is also a director of Zappos.com, a privately held, online
retailer, and Ariat International, Inc, a privately held manufacturer or footwear for equestrian athletes. From 1999 to 2004, Ann was
Executive Vice President and Chief Financial Officer of Pixar, a computer animation studio. Prior to her service at Pixar, she was
Executive Vice President and Chief Financial Officer at Village Roadshow Pictures. From 1993 to 1999, she held various executive
positions at The Walt Disney Company, including Senior Vice President of Finance and Administration for its Buena Vista International
Theatrical Division. Ann holds a Master’s degree from Cambridge University.
Management Team and Key Personnel

Name Job Title
Eric Schmidt Ph.D. Chairman of the Board, Chief Executive Officer
Education:

University of California, Berkeley Other Computer Science N/A
University of California, Berkeley Graduate Computer Science N/A
Princeton University Undergraduate Electrical Engineering N/A
Biography:
Mr. Eric Schmidt has served as Chief Executive Officer of Google Inc. since July 2001 and served as Chairman of Board of Directors of
Google Inc. from March 2001 to April 2004 and again from April 2007 to the present. In April 2004, Eric was named Chairman of the
Executive Committee of the board of directors. Prior to joining the company, from April 1997 to November 2001, Eric served as
Chairman of the board of Novell, a computer networking company, and, from April 1997 to July 2001, as the Chief Executive Officer of
Novell. From 1983 until March 1997, Eric held various positions at Sun Microsystems, a supplier of network computing solutions,
including Chief Technology Officer from February 1994 to March 1997 and President of Sun Technology Enterprises from February 1991
until February 1994. Eric is also a Director of Apple Inc., an electronic device company. Eric has a Bachelor of Science degree in
Electrical Engineering from Princeton University and a Masters degree and Ph.D. in Computer Science from the University of California
at Berkeley.
Patrick Pichette Chief Financial Officer, Senior Vice President
Page 15 of 108
Education:

University of Oxford Graduate Economics 1989
Universit du Qubec Montral Undergraduate Business Administration 1987
Biography:
Mr. Patrick Pichette has served as Chief Financial Officer and Senior Vice President of Google Inc. since August 2008. Prior to joining
the company, from January 2001 until July 2008, Patrick served as an Executive Officer of Bell Canada Enterprises Inc., a
telecommunications company, including, most recently, as President – Operations for Bell Canada, and previously as Executive Vice
President, Chief Financial Officer and Executive Vice President of Planning and Performance Management. Prior to joining Bell Canada
Enterprises, from 1996 to 2000, Patrick was a principal at McKinsey & Company, a management consulting firm. Prior to that, from 1994
to 1996, he served as Vice President and Chief Financial Officer of Call-Net Enterprises Inc., a Canadian telecommunications company.
Patrick holds a Masters of Arts degree in Philosophy, Politics and Economics from Oxford University (as a Rhodes Scholar), and a
Bachelor of Arts degree in Business Administration from Université du Québec à Montréal.
Sergey Brin President - Technology, Director
Education:

University of Maryland Undergraduate Computer Science and N/A
Mathematics
Biography:
Mr. Sergey Brin is President - Technology, Director of Google Inc. He is one of founders, has served as a member of board of directors
of Google Inc. since inception in September 1998 and as President of Technology since July 2001. From September 1998 to July 2001,
Sergey served as President. Sergey holds a Masters degree in Computer Science from Stanford University and a Bachelor of Science
degree with high honors in Mathematics and Computer Science from the University of Maryland at College Park.
Larry Page President - Products, Director
Education:

University of Michigan Undergraduate Engineering N/A
Biography:
Mr. Lawrence Page, one of founders, has served as a member of board of directors of Google Inc. since inception in September 1998
and as President of Products since July 2001. Larry served as Chief Executive Officer from September 1998 to July 2001 and as Chief
Financial Officer from September 1998 to July 2002. Larry holds a Masters degree in Computer Science from Stanford University and a
Bachelor of Science degree in Engineering, with a concentration in Computer Engineering, from the University of Michigan.
Nikesh Arora President - Global Sales Operations and Business Development
Biography:
Mr. Nikesh Arora is the President - Global Sales Operations and Business Development of Google Inc since April 16, 2009. He served
as the President of International Operations.
David Drummond Senior Vice President - Corporate Development, Chief Legal

Officer, Secretary
Education:

Stanford University Graduate N/A N/A
Santa Clara University Undergraduate History N/A
Biography:
Mr. David C. Drummond has served as Senior Vice President of Corporate Development of Google Inc. since January 2006 and as
Chief Legal Officer since December 2006. Previously, he served as Vice President of Corporate Development and General Counsel
Page 16 of 108
since February 2002. Prior to joining the company, from July 1999 to February 2002, David served as Chief Financial Officer of
SmartForce, an educational software applications company. Prior to that, David was a partner at the law firm of Wilson Sonsini Goodrich
& Rosati. David holds a J.D. from Stanford University and a Bachelor of Arts degree in History from Santa Clara University.
Jonathan Rosenberg Senior Vice President - Product Management
Education:

University of Chicago Graduate N/A N/A
Claremont McKenna College Undergraduate Economics N/A
Biography:
Mr. Jonathan J. Rosenberg has served as Senior Vice President of Product Management of Google Inc. since January 2006. Previously,
he served as Vice President of Product Management since February 2002. Prior to joining the company, from October 2001 to February
2002, Jonathan served as Vice President of Software for PalmOne, a provider of handheld computer and communications solutions.
From March 1996 to November 2000, Jonathan held various executive positions at Excite@Home, an internet media company, most
recently as its Senior Vice President of Online Products and Services. Jonathan holds a Masters of Business Administration degree from
the University of Chicago and a Bachelor of Arts degree with honors in Economics from Claremont McKenna College.
Shona Brown Senior Vice President - Business Operations
Education:

Stanford University Other Industrial Engineering N/A
University of Oxford Graduate N/A N/A
Carleton University Undergraduate Computer Systems Engineering N/A
Biography:
Ms. Shona L. Brown has served as Senior Vice President of Business Operations of Google Inc. since January 2006. Previously, she
served as Vice President of Business Operations since September 2003. Prior to joining the company, from October 1995 to August
2003, Shona was at McKinsey & Company, a management consulting firm, where she had been a partner in the Los Angeles office
since December 2000. Shona holds a Ph.D. and Post-Doctorate in Industrial Engineering and Engineering Management from Stanford
University, a Masters of Arts degree from Oxford University (as a Rhodes Scholar), and a Bachelor of Science degree in Computer
Systems Engineering from Carleton University.
Alan Eustace Senior Vice President - Engineering & Research
Education:

University of Central Florida Other Computer Science N/A
University of Central Florida Graduate Computer Science N/A
University of Central Florida Undergraduate Computer Science N/A
Biography:
Mr. Alan Eustace has served as Senior Vice President of Engineering and Research of Google Inc. since January 2006. Previously, he
served as a Vice President of Engineering since July 2002. Prior to joining the company, from May 2002 to June 2002, Alan was at
Hewlett-Packard, a provider of technology products, software and services. Prior to that, Alan worked at Compaq from June 1998 until its
acquisition by Hewlett-Packard in May 2002, where he most recently served as Director of the Western Research Laboratory. Prior to
that, Alan held various positions at Digital Equipment Corporation until its acquisition by Compaq in June 1998. Alan holds a Bachelor of
Science degree, a Masters of Science degree and a Ph.D. in Computer Science from the University of Central Florida.
Industry Classification
Industry Classification
Primary Industry Classification

Dow Jones Industry Internet Search Engines
Page 17 of 108
SIC 7375 Information Retrieval Services

NAICS 517110 Wired Telecommunications Carriers
Secondary Industry Classification
SIC 7375 Information Retrieval Services
Datamonitor SWOT Analysis
Datamonitor SWOT Analysis
Overview
Google is a global technology leader focused on improving the ways people connect with information. It specializes in internet search
engines and related advertising services. Google is one of the leading search engines in the world and is now available in 160 domains
and more than 117 languages. However, intense competition from Microsoft and Yahoo could impact its operating performance.
Strengths
Overview
Strong market position
Proprietary technology and technological infrastructure
AdWords and AdSense programs
Details
Strong market position
Google is the leading search engine in the world. The company offers search results in 160 domains and in more than 117 languages. At
the end of year 2007, Google captured 58.6% of the US search market. Yahoo! maintained its second place with 22.9% of US search
market followed by Microsoft (9.8%), Time Warner Network (4.6%) and Ask Network (4.3%). Google is also the leading search engine in
Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, India, Italy, Mexico, Spain, Sweden, Switzerland and the UK
(based on total number of unique visitors).
Furthermore, strong market position has helped Google become one of the premier internet brands in the world. According to market
research firm Miillward Brown, Google is the world's top ranked brand overtaking Microsoft and some other well-established brands like
General Electric Company, Coca-Cola, Wal-Mart Stores and IBM with a brand value of $86,057 million in the 2008 ranking, an increase
of 30% over the 2007 ranking. In 2007, BusinessWeek and Interbrand placed Google in the 20th position, up from the 24th position it
secured in 2006, in their Top 100 Global Brands ranking. The Google brand was valued at $17,837 million in 2007 compared to $12,376
million in 2006. Strong brand image of the company enhances its investor confidence as well as loyalty of its employees and customers.
Proprietary technology and technological infrastructure
Google's key strength is its search engine technology and its technological infrastructure. The company's search engine is based on its
proprietary PageRank technology, which ranks web pages and displays the ones that are most relevant to the search query. Google has
patented its PageRank technology which would expire by 2017. Further, the company uses Googlebots, web-crawling robots, to scour
the web and build a searchable index for the Google search engine. Google is believed to have the largest searchable index among all
search engines.
Google has also built a sturdy technological infrastructure. It currently maintains an estimated 450,000 servers, arranged in racks located
in clusters in cities around the world, with major centers in the US (Mountain View, California; Virginia; Atlanta, Georgia, and The Dalles,
Oregon), Ireland (Dublin), and in other new centers. Through geographically distributed servers and data centers, Google delivers faster
performance to its worldwide user base. Besides Google's search engine, these servers also run other company applications including
Gmail, Blogger, and its web-based word processor.
The company's technology base has been achieved through strong R&D investments which recorded a compounded annual growth rate
of 120% for the period 2003-07. During the period 2003-07, its R&D spending grew from less than $19 million in 2003 to $2,120 million in
2007. Its R&D spending in 2007 grew at 72.6% to $2,120 million from $1,229 million in 2006. During 2003-2007, the company on an
average invested about 10.5% of its revenue in R&D; the spending has grown from 6.2% of the total revenues in 2003 to 12.8% in 2007.
Its R&D staff also grew to 5,788 by the end of FY2007 from 3,695 in 2006.
Google's search engine technology and its sturdy technological infrastructure provide it with a competitive advantage.
AdWords and AdSense programs
Google generates revenues primarily by delivering online advertising. AdWords and AdSense programs have enabled the company to
generate revenues from its breakthrough search technology. The company partnered with companies like Intuit, Verizon and AT&T to
help it bring more business information online. AdWords is the company's global advertising program that is widely recognized as the
web's most efficient advertising vehicle. Through AdWords, advertisers are able to get to people who are searching for information
related to what the advertiser has to offer. AdWords is accessible to advertisers in 41 different interface languages. Recent AdWords
advertisers included the likes of Sony, Cisco, Alamo Car Rental, Ameritrade, Amazon.com, Canon, Disney, General Motors, L.L. Bean,
Nordstrom, Sears, Smith & Hawken, Sprint, Volvo and Xerox.
Through Google AdSense program, the company distributes advertisements for display on the web sites of Google network members.
The company's AdSense partners include Amazon.com, America Online, AT&T Worldnet, AskJeeves, BIGLOBE, BizRate.com,
CompuServe, Disney Online, EarthLink, Forbes, Go.com, Libero, Netscape, NIFTY, ntlworld.com, New York Times, T Online,
Washington Post and Weather Channel, among others. A combination of powerful, compelling business proposition in search advertising
with an easy to use, self-service delivery model (through AdWords and AdSense) has enabled the company to establish a customer
relationship with over 160,000 advertisers worldwide. This enables Google to generate steady advertising revenue growth. As a result,
for the period 2005-07, the company's revenues recorded a CAGR of 64%, the fastest growth rate for any company of its size, to reach
$16,594 million in 2007 from $6,138.6 million in 2005. Further, the company has also reported strong operating and net profits, which
grew from $2,107.3 million and $1,465.4 million, respectively, in 2005 to $5,084.4 million and $3,077.4 million, respectively, in 2007.
The company's strong programs have resulted in strong revenues and profits enabling it to invest in future growth avenues like
acquisitions, expansions and new products in mobile communication markets, among others.
Page 18 of 108
Weaknesses
Overview
Weak presence in the social networking domain
Lack of product integration
Details
Weak presence in the social networking domain
Google has a relatively weak presence in the social networking domain compared to its competitors. The company's social networking
site, Orkut, has lagged behind competitors such as MySpace.com and Facebook.com. Initially, Orkut did not include advance video
features compared to MySpace and do not facilitate its members to post their blogs. Further, Orkut is ranked behind MySpace.com and
Facebook.com in terms of traffick to its site. Orkut's user base is largely from Brazil accounting for 53.9% of total users, India with 17%
and the US with 15.1% as of May 2008. By contrast, its major competitors, MySpace.com and Facebook.com, has significant share in the
markets like the US and the UK. In the US and the UK, MySpace.com, Facebook.com and Bebo were ranked among the top three
positions for the most popular and visited social networking site in 2007, while Orkut did not find a place in the top ten positions. Further,
the rankings showed no major changes until the fist quarter of 2008. There has been a tremendous growth in popularity for social
networking sites such as MySpace, Facebook and Bebo in recent times. Even Google's competitors, Yahoo and Microsoft, have begun
to organize their applications around social networking. Google's weaker presence in this domain could translate to market share loss
which will affect its brand image.
Lack of product integration
Google's products lack integration with its other products. Google has focused more on launching new products in recent years and less
on integrating products into a whole for delivering a holistic experience to the user. As a result, the company now has a large number of
new products, some of them innovative, but seemingly having little in common with each other. Product integration allows internet
companies to steer visitors from one service to another and retain them on their site for a longer time. Product integration also enables
internet companies to gain acceptance for new products quickly.
Furthermore, there have been numerous instances where users have been unaware of its new products because they are embedded so
deeply within Google's sites. The fact that some users have had to use the Google search engine to find new products highlights the lack
of integration between its new products. In contrast, Yahoo has built better linkages between its various products by allowing users to
choose from most of its product available on the homepage. Lack of product integration puts Google at a competitive disadvantage
against more integrated rivals such as Yahoo.
Opportunities
Overview
Growth in internet usage
Increasing worldwide online ad spending
New products
Details
Growth in internet usage
The worldwide internet usage is forecast to grow strongly in the coming years. The worldwide internet users were 21.1% of the total
population in the first quarter of 2008 compared to 16.9% in 2007. Of the total users in the world, Asia accounted for 37.6%, Europe
(27.1%), North America (17.5%), Latin America/Caribbean (9.8%), Africa (3.6%), the Middle East (3%) and Oceania/Australia (1.4%).
While, Asia had a large base of internet users, North America, Oceania/Australia and Europe recorded the highest penetration rate of
73.1%, 57% and 47.7% in first quarter of 2008. Internet usage has grown rapidly over the last few years, almost three fold over the period
from 2000 to mid-2008. Africa and the Middle East recorded the highest growth with a ten fold growth during the same period, followed
by the Latin America/Caribbean which grew by six and a half times.
In response, Google announced several products in recent years including giving its local managers more autonomy to develop new
products and respond to the local market. Furthermore, the company is increasing its investment in developing countries like China.
Expanding its presence would enable Google to strengthen its leadership position.
Growing internet usage provides an opportunity for Google to increase its revenue growth options.
Increasing worldwide online ad spending
The worldwide online advertising spending is expected increase in the coming years. Currently, the worldwide advertising revenue is
estimated to be about $700 billion. Of the total market value, the US spending is estimated to be about $300 billion, while the
international markets represent about $400 billion annually. Currently, the online spending in the US represents only 7% of the total US
advertising spending. However, the advertising market in recent years has experienced a significant shift from traditional media like print
publication to interactive media including web and mobile publication. The primary derivers for this growth are the wide adoption of
broadband and increasing mobile web usage patterns and product proliferation. While the online advertising industry is forecast to grow
from $40 billion in 2007 to approximately $75 billion in 2010, the worldwide broadband subscribers are forecast to grow from
approximately 268 million in 2006 to approximately 617 million by 2012, at a CAGR of 15%. The most attractive regions in this market
include the developing countries in Asia. China and India are forecast to record a CAGR of 25% to reach 174 million subscribers in 2012,
growing from 46 million in 2006.
Increasing online ad spending will enable the company to further extend its market share.
New products
Google is working on several projects to increase the demand for its products and services. The company is trying to increase the
content available online by providing tools to promote content creation. Two of the major projects of the company in this area include
Google App Engine and Android. Google App Engine is an application-hosting tool that can be used by developers to build scalable web
apps on top of Google's infrastructure. The company's goal in launching this service is to make it easier for web developers to build and
scale applications, instead of focusing on system administration and maintenance. This platform could result in several websites being
launched by people who could not do so due to infrastructure constraints. Further, this could allow the integration of Google's search
functionality into these websites as well as provide more content for Google to index.
Android is a project aiming at creating the first complete, open, and free mobile platform. This is being developed by an alliance of
leading technology and wireless companies including Google, T-Mobile, HTC, Qualcomm, Motorola and others jointly called the Open
Handset Alliance. The Android platform is the first step in this direction of a fully integrated mobile software stack that consists of an
operating system, middleware, user-friendly interface and applications. As part of the Android initiative in November 2007, Google
announced the Android Developer Challenge, which will provided $10 million to developers intending to build mobile applications for
Android. The challenge is designed to support the developer community and spark innovation on the Android platform by awarding cash
prizes ranging from $25,000 to $275,000 to developers whose applications are picked by a panel of judges. The challenge has passed its
first phase and is on the way to completion. This project is expected to be one of the potential opportunities for the Google as it opens up
the mobile content creations hurdles and could flush the mobile market with content.
Additionally, MySpace, one of the world's largest social networking websites and Google collaborated to launch OpenSocial, a set of
Page 19 of 108
common application programming interfaces (APIs) for building social applications across the web.
Google's new products could open doors for more content on the web which could lead to more search and advertising opportunities for
the company.
Threats
Overview
Competition from Microsoft and Yahoo
Reliance on Google network members
Cultural and privacy issues
Click fraud and invalid clicks
Details
Competition from Microsoft and Yahoo
Google faces competition from companies that seek to connect people with information on the web and provide them with relevant
advertising. Google competes with internet advertising companies, particularly in the areas of pay-for-performance and keyword-targeted
internet advertising. Google also competes with companies that sell products and services online. It also faces competition from
companies offering traditional media advertising. Google provides a number of online products and services, including Google Checkout
and YouTube. Its communications tools such as Google Docs and Spreadsheets compete directly with new and established companies
that offer communication, information and entertainment services integrated into their products or media properties.
Microsoft and Yahoo! are its key competitors. Microsoft has developed features that make web search a more integrated part of its
Windows operating system and other desktop software products. If any of its competitors provide similar or better web search results,
more relevant advertisements or make their web search or advertiser services easier to access, the company could experience a
significant decline in user traffic or in the size of the Google Network. Any such decline could negatively impact its revenue.
Additionally, Microsoft announced its intention to acquire Yahoo! in early 2008, which ended unsuccessfully in June 2008. However, the
industry sources view that it could take some more time to declare the end of the deal, as Yahoo!'s investor crisis over the bid not being
accepted, as well as due to Microsoft's interest to increase its market share in the online advertising market.
Further in June 2008, Yahoo! entered into an agreement with Google to sell advertisements as part of Yahoo!'s search and related
websites. Though, this deal will give Google an opportunity to tap Yahoo! advertising potential, it could also be challenged by competitive
authorities.
Increasing competition from online services could affect its operating performance in the long term.
Reliance on Google Network members
Google relies on Google Network members for a significant portion of its revenues. The company provides advertising, web search and
other services to members of its Google Network, which accounted for 35% and 39% of the company's revenues in 2007 and 2006,
respectively. Some of the members may compete with Google in one or more areas. Therefore, they may decide in the future to
terminate their agreements with the company. Any decision by Google Network members to use the company's competitor search engine
or their own web search or advertising services, would adversely impact the company's revenues.
Google's agreements with a few of the Google Network members account for a significant portion of revenues derived from the
company's AdSense program. Advertising and other fees generated from AOL, a Google Network member, primarily through AdSense
program accounted for approximately 7% of its revenues in 2006. Also, Google derives tangible and intangible benefits from some of its
key members who operate high-profile web sites. If any of these key relationships is terminated or not renewed the company's business
could be negatively affected.
Cultural and privacy issues
Google is increasingly being challenged with cultural and privacy issues related to content on its websites. In 2007, Google's YouTube
website was blocked in Thailand owing to a video having offensive picture of a significant person. Following that, Google agreed to block
the video in Thailand while leaving it available elsewhere. Google also faced similar issues in other parts of the world which are still in
debate. Though, Google tries to avoid such cases which could affect its business, it will be very difficult for the company to achieve them
to perfection. The company has to make significant efforts to understand and filter content accordingly.
Additionally, the company's launch of street view function as part of Google Maps and Google Earth, which provides 360 degree
street-level views and allows users to view parts of selected cities and their surrounding metropolitan areas, has resulted in several
privacy issues. For instance, Google has removed its street view feature for the city of North Oaks, Minnesota as its mayor claimed the
company has violated the city's trespassing ordinance. Google in spite of being an innovative company has been involved in various
issues like these.
The company's involvement in cultural and privacy issues could affect its brand image, which will further affect its growth.
Click fraud and invalid clicks
The company has regularly refunded fees that its advertisers have paid, but were later attributed to click fraud and other invalid clicks.
Invalid clicks are clicks which are not intended by the user to link to the underlying content such as inadvertent clicks on the same ad
twice and clicks resulting from click fraud. Click fraud occurs when a user intentionally clicks on a Google AdWords ad displayed on a
website for a reason other than to view the underlying content.
Growing incidence of click fraud would increase refunds from Google. This would negatively affect the company's profitability. These
invalid clicks could also negatively impact the Google brand. At the same time, invalid clicks could result in reduced return on investment
for Google's advertisers because the invalid clicks will not lead to potential revenue. Click fraud would result in dissatisfaction of
advertisers as well as loss of advertisers, which would have an impact on the revenue growth of the company.
Source: DataMonitor
Page 20 of 108
Performance/Segment Information
Performance/Segment Information
Financial Performance Geographic Segment

(USD m) (USD m) Top 5 Segments
Source: Reuters
Key Ratios
Key Financial Ratios
Last Financial
Period
Reporting Currency USD
Relative Valuations
P/E excluding Extraordinary Items 30.27
Price to Sales TTM 5.75
Price to Cash Flow 22.25
Price to Free Cash Flow 23.16
Price to Book 4.50
Price to Tangible Book Value 5.68
Tangible Book Value per Share 71.09
Financial Strength
Current Ratio 8.77
Quick Ratio 8.77
Long Term Debt to Equity 0.00
Debt to Equity 0.00
Interest Coverage --
Profitability
Pre-Tax Margin TTM 27.26%
Pre-Tax Margin, 5-Yr Average 31.43%
Net Profit Margin TTM 19.63%
Net Profit Margin, 5-Yr Average 22.93%
Operating Margin TTM 26.56%
Operating Margin, 5-Yr Average 28.86%
EBIT 5,537,212,000
Page 21 of 108
EBIT TTM --
EBIT Margin, 5-Yr Average --
Gross Margin TTM 61.06%
Gross Margin, 5-Yr Average 59.64%
Tax Rate 27.79%
Tax Rate, 5-Yr Average 27.05%
Effectiveness
Return on Average Equity TTM 16.03%
Return on Average Equity, 5-Yr Average 20.12%
Return on Average Assets TTM 14.21%
Return on Average Assets, 5-Yr Average 18.14%
Return on Investment TTM 15.38%
Return on Investment, 5-Yr Average 19.66%
Efficiency
Revenue per Employee TTM 1,093,892
Net Income per Employee TTM 214,768
Asset Turnover TTM 0.72
Receivables Turnover TTM 8.67
Inventory Turnover --
Key Financials
Key Financials
Fiscal Year End Interim Period End, 1 Interim Period End

31-Dec-2008 Year Ago 31-Mar-2009
31-Mar-2008
Key Indicators (USD, In millions)
Sales 21,795.55 5,186.04 5,508.99
Sales Growth 31.35% -- --
Sales Growth (1 year) 31.35% -- --
Sales Growth (3 year) -- -- --
Operating Income 5,537.21 1,546.24 1,883.59
Net Income 4,226.86 1,307.09 1,422.83
Diluted EPS excluding Extrordinary Items 13.31 4.12 4.49
Research and Development 2,793.19 673.07 641.64
Capital Expenditures (2,358.46) (841.60) (262.76)
Cash from Operating Activities 7,852.86 1,779.45 2,249.51
Total Assets 31,767.58 27,604.98 33,513.03
Total Liabilities 3,528.71 3,267.45 3,664.93
Total Long Term Debt 0.00 0.00 --
Employees 20,222 19,156 20,164
Employees Growth (1 year) 20.33% -- --
Employees Growth (3 year) -- -- --
Audit Fees (Including Non-Audit Fees) 12,028,000.00
Non-Audit Fees 358,000.00
Fiscal Year End Fiscal Year End

31-Dec-2008 31-Dec-2008
Margin Ratios
Gross Margin TTM 61.06% P/E excluding Extraordinary Items 30.27
Operating Margin TTM 26.56% Current Ratio 8.77
Pre-Tax Margin TTM 27.26% Long Term Debt to Equity 0.00
Net Profit Margin TTM 19.63% Long Term Debt to Assets 0.00
Growth Rates Return on Average Equity 16.60
Page 22 of 108
Revenue Percent Change TTM over TTM -- Return on Average Assets 14.80
EPS MRFY vs. FY 1 Yr Ago -- Return on Investment TTM 15.38
Revenue, 5-Yr Growth 71.57% Asset Turnover 0.76
EPS, 5-Yr Growth 100.42% Inventory Turnover TTM --
Capital Spending, 5-Yr Growth 67.89% Receivables Turnover 9.07
Stock Price Data

Current Price 402.99 Market Capitalization (USD) 127,225,300,000
Reporting Currency USD Price to Book 4.50
Current Price Date 05-May-2009 Beta, 5 Years 1.18
Price Percent Change, 52 Weeks (32.26) Volume, 10-Day Average 3,074,180
Price, 12-Month High 599.49 Shares Outstanding, Daily 973,760
Volume
Price, 12-Month Low 247.30 Shares Outstanding, Monthly 32,753,720
Volume
Shareholdings
Shares Outstanding 315,703,400 Insider Trading - Shares Sold, --
past 6 Months
Shares Outstanding - Common 240,073,000 Institutional Ownership - Number --
Stock, Primary Issue of Institutions
Shares Outstanding - Preferred -- Institutional Ownership - Percent --
Stock, Primary Issue Common Shares Owned
Short Interest Ratio -- Institutional Ownership - Shares --
Outstanding Owned
Insider Ownership (percent) -- Institutional Ownership - Shares --
Purchased, previous Quarter
Insider Trading - Net Shares -- Institutional Ownership - Shares --
Bought, past 6 Months Sold, previous Quarter
Dividends
Dividend Yield, 5-Yr Average 0.00 Latest Dividend Declared --
Dividend Yield -- Dividend per Share 0.00
Dividend Rate 0.00
Geographic Segment Breakdown
Geographic Segment Breakdown
Period End Date 31-Dec-2008 31-Dec-2007 31-Dec-2006 31-Dec-2005

Normal Normal Normal Normal
Update Type/Date 13-Feb-2009 15-Feb-2008 01-Mar-2007 16-Mar-2006
Annual Geographic Segment Breakdown: (USD, In
millions)
External Revenue
United States 10,635.55 8,698.02 6,030.14 3,756.89
United Kingdom 3,038.49 2,530.92 1,603.84 878.11
Others 8,121.51 5,365.05 2,970.94 1,503.56
Segment Total 21,795.55 16,593.99 10,604.92 6,138.56
Consolidated Total 21,795.55 16,593.99 10,604.92 6,138.56
Total Revenue
United States 2,119.04 3,756.89 6,030.14 8,698.02
United Kingdom 402.80 878.11 1,603.84 2,530.92
Others 667.38 1,503.56 2,970.94 5,365.05
Segment Total 3,189.22 6,138.56 10,604.92 16,593.99
Long Lived Assets
United States 9,782.83 7,334.88 5,070.69 1,080.24
Page 23 of 108
United Kingdom -- -- -- --
Others 1,806.57 711.79 362.81 190.51
Segment Total 11,589.39 8,046.67 5,433.50 1,270.74
Period End Date 31-Dec-2008 30-Sep-2008 30-Jun-2008 31-Mar-2008

Normal Normal Normal Normal
Update Type/Date 13-Feb-2009 07-Nov-2008 07-Aug-2008 12-May-2008
Interim Geographic Segment Breakdown: (USD, In
millions)
External Revenue
United States 2,838.04 2,695.01 2,567.02 2,535.47
United Kingdom 685.40 776.16 773.96 802.97
Others 2,177.46 2,070.22 2,026.23 1,847.60
Segment Total 5,700.90 5,541.39 5,367.21 5,186.04
Total Revenue
United States 2,838.04 2,695.01 2,567.02 2,535.47
United Kingdom 685.40 776.16 773.96 802.97
Others 2,177.46 2,070.22 2,026.23 1,847.60
Segment Total 5,700.90 5,541.39 5,367.21 5,186.04
Long Lived Assets
United States 9,782.83 7,334.88 11,540.07 11,231.09
United Kingdom -- -- -- --
Others 1,806.57 711.79 1,322.88 908.97
Segment Total 11,589.39 8,046.67 12,862.95 12,140.05
Source: Reuters Publication Date: 28-Apr-2009
Ratio Comparison Report
Ratio Comparison Report
Company Industry Sector S&P 500

(Computer (Technology)
Services)
Valuation Ratios
P/E ratio, 5-Yr High 264.04 36.03 37.75 31.57
P/E ratio, 5-Yr Low 18.43 16.48 11.91 10.12
Beta, 5 Years 1.18 1.16 1.22 1.00
Price to Sales TTM 5.75 4.53 3.05 1.81
Price to Book MRQ 4.26 3.76 3.95 3.24
Price to Tangible Book MRQ 5.28 5.71 5.54 5.95
Price to Cash Flow per Share TTM 21.55 19.12 15.64 12.33
Price to Free Cash Flow per Share TTM 19.44 17.80 15.54 21.92
Institutional Ownership - Percent Common Shares Owned -- 35.94 48.75 70.56
Dividends
Dividend Yield -- 1.86 2.09 3.00
Dividend Yield, 5-Yr Average 0.00 0.13 0.82 1.93
Dividend 5-Yr Growth rate -- 16.31 26.35 14.26
Payout 0.00 1.30 12.93 30.73
Growth Rates
Revenue MRQ vs. Qtr 1 Yr Ago 6.23 4.59 -4.75 -7.47
Page 24 of 108
Revenue TTM vs. TTM 1 Yr Ago 22.09 17.80 -4.12 4.72

Revenue, 5-Yr Growth 71.57 52.27 20.88 14.53
EPS MRQ vs. Qtr 1 Yr Ago 8.91 11.71 -12.80 -13.54
EPS TTM vs. TTM 1 Yr Ago -3.88 4.50 1.34 -3.78
EPS, 5-Yr Growth 100.42 73.84 34.68 19.04
Capital Spending, 5-Yr Growth 67.89 49.72 21.54 13.25
Financial Strength
Quick Ratio MRQ 10.11 6.45 2.22 1.29
Current Ratio Quarter 10.11 7.06 2.70 1.91
Long Term Debt to Equity MRQ -- 17.40 31.60 66.40
Total Debt to Equity MRQ -- 22.10 47.10 89.00
Interest Coverage -- 13.64 12.04 12.71
Profitability Ratios
Gross Margin TTM 61.06 55.78 53.68 45.42
Gross Margin, 5-Yr Average 59.64 53.56 53.13 45.65
Operating Margin TTM 26.56 21.43 15.79 15.35
Operating Margin, 5-Yr Average 28.86 21.65 17.72 18.77
Pre-Tax Margin TTM 27.26 21.76 17.41 13.78
Pre-Tax Margin, 5-Yr Average 31.43 23.37 19.49 18.03
Net Profit Margin TTM 19.63 15.38 12.51 9.54
Net Profit Margin, 5-Yr Average 22.93 16.85 12.43 12.57
Tax Rate TTM 27.98 29.01 25.96 29.50
Tax Rate, 5-Yr Average 27.05 30.45 24.54 30.82
Management Effectiveness
Return on Average Assets TTM 14.21 10.15 8.35 7.30
Return on Average Assets, 5-Yr Average 18.14 14.21 10.41 8.86
Return on Investment TTM 15.38 13.29 12.28 10.36
Return on Investment, 5-Yr Average 19.66 17.06 14.69 12.62
Return on Average Equity TTM 16.03 15.03 19.28 18.22
Return on Average Equity, 5-Yr Average 20.12 19.01 19.70 20.55
Efficiency
Revenue per Employee TTM 1,093,892 779,053 507,666 952,650
Net Income per Employee TTM 214,768 150,146 84,516 105,586
Receivables Turnover TTM 8.67 7.94 7.61 10.71
Inventory Turnover -- 31.67 14.16 11.54
Asset Turnover TTM 0.72 0.79 0.71 0.98
Balance Sheet - Annual
Balance Sheet - Annual
Period End Date 31-Dec-2008 31-Dec-2007 31-Dec-2006 31-Dec-2005 31-Dec-2004

Update Type/Date Normal Normal Normal Normal Normal
13-Feb-2009 15-Feb-2008 01-Mar-2007 16-Mar-2006 30-Mar-2005
Auditor/Accountant Ernst & Young Ernst & Young Ernst & Young Ernst & Young Ernst & Young
LLP LLP LLP LLP LLP
Number of Employees 20,222 16,805 10,674 5,680 3,021
Accounting Standard U.S. GAAP U.S. GAAP U.S. GAAP U.S. GAAP U.S. GAAP
Annual Balance Sheet: (USD, In millions)
Cash and Equivalents 8,656.67 6,081.59 3,544.67 3,877.17 426.87
Short Term Investments 7,189.10 8,137.02 7,699.24 4,157.07 1,705.42
Cash and Short Term Investments 15,845.77 14,218.61 11,243.91 8,034.25 2,132.30
Trade Accounts Receivable, Gross 2,722.28 2,195.41 1,339.25 702.83 315.80
Page 25 of 108
Provision for Doubtful Accounts (80.09) (32.89) (16.91) (14.85) (3.96)

Trade Accounts Receivable, Net 2,642.19 2,162.52 1,322.34 687.98 311.84
Other Receivables 0.00 145.25 0.00 0.00 70.51
Total Receivables, Net 2,642.19 2,307.77 1,322.34 687.98 382.35
Prepaid Expenses 1,404.11 694.21 443.88 229.51 159.36
Deferred Income Tax - Current Asset 286.11 68.54 29.71 49.34 19.46
Other Current Assets, Total 286.11 68.54 29.71 49.34 19.46
Total Current Assets 20,178.18 17,289.14 13,039.85 9,001.07 2,693.47
Land/Improvements 1,725.34 951.33 352.11 124.75 0.00
Machinery/Equipment 3,634.96 2,787.04 1,814.06 966.48 516.10
Construction in Progress 1,643.14 1,364.65 850.16 211.09 49.35
Leases 572.91 416.88 273.26 115.11 17.62
Property/Plant/Equipment, Gross 7,576.34 5,519.91 3,289.59 1,417.43 583.07
Accumulated Depreciation (2,342.50) (1,480.65) (894.36) (455.68) (204.15)
Property/Plant/Equipment, Net 5,233.84 4,039.26 2,395.24 961.75 378.92
Goodwill, Net 4,839.85 2,299.37 1,545.12 194.90 122.82
Intangibles, Gross 1,560.94 733.21 485.54 146.56 97.83
Accumulated Intangible Amortization (564.25) (286.61) (138.70) (63.78) (26.76)
Intangibles, Net 996.69 446.60 346.84 82.78 71.07
Other Long Term Investments 85.16 1,059.69 1,031.85 -- --
Total Long Term Investments 85.16 1,059.69 1,031.85 -- --
Deferred Income Tax - Long Term Asset 0.00 33.22 0.00 0.00 11.59
Other Long Term Assets 433.85 168.53 114.46 31.31 35.49
Other Long Term Assets, Total 433.85 201.75 114.46 31.31 47.08
Total Assets 31,767.58 25,335.81 18,473.35 10,271.81 3,313.35
Accounts Payable 178.00 282.11 211.17 115.58 32.67
Accrued Expenses 1,824.45 1,575.42 987.91 528.94 269.29
Notes Payable/Short Term Debt 0.00 0.00 0.00 0.00 0.00
Current Portion of Long Term Debt/Capital -- -- -- 0.00 1.90
Leases
Customer Advances 218.08 178.07 105.14 73.10 36.51
Income Taxes Payable 81.55 0.00 0.38 27.77 0.00
Other Current Liabilities, Total 299.63 178.07 105.51 100.87 36.51
Total Current Liabilities 2,302.09 2,035.60 1,304.59 745.38 340.37
Capital Lease Obligations -- -- -- 0.00 0.00
Total Long Term Debt 0.00 0.00 0.00 0.00 0.00
Total Debt 0.00 0.00 0.00 0.00 1.90
Deferred Income Tax - Long Term Liability 12.52 0.00 40.42 35.42 0.00
Total Deferred Income Tax 12.52 0.00 40.42 35.42 0.00
Other Long Term Liabilities 1,214.11 610.53 88.50 72.05 43.93
Other Liabilities, Total 1,214.11 610.53 88.50 72.05 43.93
Total Liabilities 3,528.71 2,646.13 1,433.51 852.86 384.30
Redeemable Convertible Preferred Stock -- -- -- 0.00 0.00
Total Redeemable Preferred Stock -- -- -- 0.00 0.00
Convertible Preferred Stock - Non -- -- -- 0.00 0.00
Redeemable
Total Preferred Stock - Non Redeemable, Net -- -- -- 0.00 0.00
Common Stock 0.32 0.31 0.31 0.29 0.27
Total Common Stock 0.32 0.31 0.31 0.29 0.27
Additional Paid-In Capital 14,450.34 13,241.22 11,882.91 7,477.79 2,582.35
Retained Earnings 13,561.63 9,334.77 5,133.31 2,055.87 590.47
Other Comprehensive Income 226.58 113.37 23.31 (115.00) (244.03)
Other Equity, Total 226.58 113.37 23.31 (115.00) (244.03)
Total Stockholders' Equity 28,238.86 22,689.68 17,039.84 9,418.96 2,929.06
Total Liabilities and Shareholders Equity 31,767.58 25,335.81 18,473.35 10,271.81 3,313.35
Shares Outstanding - Common Stock, Primary 240,073,000 236,432,820 227,670,000 200,032,230 87,937,010
Page 26 of 108
Issue
Shares Outstanding - Common Stock, Issue2 75,041,000 76,844,350 81,327,000 92,995,410 178,980,030
Total Common Shares Outstanding 315,114,000 313,277,170 308,997,000 293,027,640 266,917,040
Treasury Shares - Common Primary Issue 26,000 336,000 1,045,000 -- --
Treasury Shares - Common Issue2 -- 25,000 251,000 -- --
Cash Flow - Annual
Cash Flow - Annual

13-Feb-2009 15-Feb-2008 01-Mar-2007 16-Mar-2006 30-Mar-2005
LLP LLP LLP LLP LLP
Annual Cash Flow Statement: (USD, In
millions)
Net Income 4,226.86 4,203.72 3,077.45 1,465.40 399.12
Depreciation 1,212.24 807.74 494.43 256.81 128.52
Accumulated Depreciation and Depletion 1,212.24 807.74 494.43 256.81 128.52
Amortization of Intangibles 287.65 159.92 77.51 37.00 19.95
Amortization 287.65 159.92 77.51 37.00 19.95
Deferred Taxes (224.65) (164.21) -- -- --
Unusual Items 1,094.76 0.00 0.00 0.00 201.00
Purchased Research and Development -- -- 10.80 22.04 11.34
Other Non-Cash Items 960.68 489.44 (123.63) 634.43 470.32
Cash Taxes Paid 1,223.99 882.69 537.70 153.63 183.78
Cash Interest Paid 1.56 1.34 0.26 0.22 0.71
Accounts Receivable (334.46) (837.25) (624.01) (372.29) (156.93)
Prepaid Expenses (147.13) (298.69) (289.16) (51.66) (99.78)
Accounts Payable (211.54) 70.14 95.40 80.63 (13.52)
Accrued Expenses 352.91 569.22 430.83 260.11 120.25
Taxes Payable 626.03 744.80 398.41 87.40 (125.23)
Other Liabilities 41.43 70.33 30.80 39.55 22.00
Other Operating Cash Flow (31.91) (39.74) 1.67 0.00 --
Changes in Working Capital 295.32 278.80 43.96 43.74 (253.21)
Cash from Operating Activities 7,852.86 5,775.41 3,580.51 2,459.42 977.04
Purchase of Fixed Assets (2,358.46) (2,402.84) (1,902.80) (838.22) (319.00)
Purchase/Acquisition of Intangibles -- -- -- (14.82) (36.91)
Capital Expenditures (2,358.46) (2,402.84) (1,902.80) (853.04) (355.90)
Acquisition of Business (3,320.30) (906.65) (402.45) (86.49) (21.96)
Sale/Maturity of Investment 15,762.80 15,659.47 23,107.13 10,257.21 2,611.08
Purchase of Investments (15,403.46) (16,031.57) (27,701.04) (12,675.88) (4,134.58)
Other Investing Cash Flow Items, Total (2,960.96) (1,278.75) (4,996.35) (2,505.16) (1,545.46)
Cash from Investing Activities (5,319.42) (3,681.59) (6,899.15) (3,358.19) (1,901.36)
Other Financing Cash Flow 159.09 379.21 581.73 0.00 4.30
Financing Cash Flow Items 159.09 379.21 581.73 0.00 4.30
Sale/Issuance of Common Stock 0.00 0.00 2,063.55 4,287.23 1,161.08
Common Stock, Net 0.00 0.00 2,063.55 4,287.23 1,161.08
Options Exercised (71.52) 23.86 321.12 85.03 12.00
Warrants Converted -- -- 0.00 0.00 21.94
Issuance (Retirement) of Stock, Net (71.52) 23.86 2,384.67 4,372.26 1,195.03
Long Term Debt Reduction -- 0.00 0.00 (1.43) (4.71)
Page 27 of 108
Long Term Debt, Net -- 0.00 0.00 (1.43) (4.71)

Issuance (Retirement) of Debt, Net -- 0.00 0.00 (1.43) (4.71)
Cash from Financing Activities 87.57 403.07 2,966.40 4,370.83 1,194.62
Foreign Exchange Effects (45.92) 40.03 19.74 (21.76) 7.57
Net Change in Cash 2,575.08 2,536.92 (332.50) 3,450.30 277.88
Net Cash - Beginning Balance 6,081.59 3,544.67 3,877.17 426.87 149.00
Net Cash - Ending Balance 8,656.67 6,081.59 3,544.67 3,877.17 426.87
Cash Interest Paid, Supplemental 1.56 1.34 0.26 0.22 0.71
Cash Taxes Paid, Supplemental 1,223.99 882.69 537.70 153.63 183.78
Income Statement - Annual
Income Statement - Annual

Update Type/Date Normal Reclassified Reclassified Reclassified Reclassified
13-Feb-2009 13-Feb-2009 13-Feb-2009 01-Mar-2007 01-Mar-2007
LLP LLP LLP LLP LLP
Annual Income Statement: (USD, In millions)
Net Sales 21,795.55 16,593.99 10,604.92 6,138.56 3,189.22
Total Revenue 21,795.55 16,593.99 10,604.92 6,138.56 3,189.22
Cost of Revenue 8,621.51 6,649.09 4,225.03 2,577.09 1,468.97
Gross Profit 13,174.04 9,944.90 6,379.89 3,561.47 1,720.26
Selling, General and Administrative Expense 3,748.88 2,740.52 1,601.31 854.68 483.90
Research and Development 2,793.19 2,119.99 1,228.59 599.51 395.16
Litigation -- -- -- 0.00 201.00
Impairment-Assets Held for Sale 1,094.76 0.00 0.00 -- --
Other Unusual Expense -- -- -- 90.00 0.00
Total Operating Expense 16,258.34 11,509.59 7,054.92 4,121.28 2,549.03
Operating Income 5,537.21 5,084.40 3,550.00 2,017.28 640.19
Non Operating Interest Expense -- -- -- (0.78) (0.86)
Non-Operating Interest Expense, Net -- -- -- (0.78) (0.86)
Non-Operating Interest Income 389.53 559.21 412.06 121.04 16.00
Non-Operating Investment Income (77.67) 35.03 45.52 -- --
Non-Operating Interest/Investment Income 311.86 594.23 457.58 121.04 16.00
Other Non-Operating Income 4.52 (4.65) 3.46 4.14 (5.09)
Other Non-Operating Income, Net 4.52 (4.65) 3.46 4.14 (5.09)
Income Before Tax 5,853.60 5,673.98 4,011.04 2,141.68 650.23
Total Income Tax 1,626.74 1,470.26 933.59 676.28 251.12
Income After Tax 4,226.86 4,203.72 3,077.45 1,465.40 399.12
Net Income Before Extraordinary Items 4,226.86 4,203.72 3,077.45 1,465.40 399.12
Net Income 4,226.86 4,203.72 3,077.45 1,465.40 399.12
Income Available to Common Excl. 4,226.86 4,203.72 3,077.45 1,465.40 399.12
Extraordinary Items
Income Available to Common Incl. 4,226.86 4,203.72 3,077.45 1,465.40 399.12
Extraordinary Items
Basic Weighted Average Shares 313.96 310.81 301.40 275.84 193.18
Basic EPS excluding Extraordinary Items 13.46 13.53 10.21 5.31 2.07
Basic EPS including Extraordinary Items 13.46 13.53 10.21 5.31 2.07
Dilution Adjustment 0.00 0.00 0.00 0.00 0.00
Diluted Net Income 4,226.86 4,203.72 3,077.45 1,465.40 399.12
Diluted Weighted Average Shares 317.51 316.21 309.55 291.87 272.78
Page 28 of 108
Diluted EPS excluding Extrordinary Items 13.31 13.29 9.94 5.02 1.46
Diluted EPS including Extraordinary Items 13.31 13.29 9.94 5.02 1.46
Dividends per Share - Common Stock, 0.00 0.00 0.00 0.00 0.00
PrimaryIssue
Dividends per Share - Common Stock, Issue2 0.00 0.00 0.00 0.00 0.00
Gross Dividends - Common Stock 0.00 0.00 0.00 0.00 0.00
Stock-Based Compensation Expense -- -- -- 12.60 14.76
Net Income After Stock-Based Comp. -- -- -- 1,362.80 384.36
Expense
Basic EPS after Stock-based Comp. Expense -- -- -- 4.94 1.99
Diluted EPS after Stock-Based Comp. -- -- -- 4.67 1.41
Expense
Interest Expense, Supplemental -- -- -- 0.78 0.86
Depreciation, Supplemental 1,212.24 807.74 494.43 256.81 128.52
Total Special Items 1,094.76 0.00 0.00 90.00 201.00
Normalized Income Before Tax 6,948.35 5,673.98 4,011.04 2,231.68 851.23
Effect of Special Items on Income Taxes 304.24 0.00 0.00 28.42 77.63
Income Taxes Excl. Impact of Special Items 1,930.98 1,470.26 933.59 704.70 328.74
Normalized Income After Taxes 5,017.38 4,203.72 3,077.45 1,526.98 522.49
Normalized Income Available To Common 5,017.38 4,203.72 3,077.45 1,526.98 522.49
Basic Normalized EPS 15.98 13.53 10.21 5.54 2.70
Diluted Normalized EPS 15.80 13.29 9.94 5.23 1.92
Amortization of Intangibles, Supplemental 279.70 158.20 74.20 37.00 19.95
Rental Expenses 215.60 127.90 80.70 41.20 27.10
Balance Sheet - Interim/Quarterly
Balance Sheet - Interim/Quarterly
Period End Date 31-Mar-2009 31-Dec-2008 30-Sep-2008 30-Jun-2008 31-Mar-2008

16-Apr-2009 13-Feb-2009 07-Nov-2008 07-Aug-2008 12-May-2008
Number of Employees 20,164 20,222 20,123 19,604 19,156
Interim Balance Sheet: (USD, In millions)
Cash and Equivalents 10,426.29 8,656.67 8,370.47 7,363.54 6,519.75
Short Term Investments 7,358.64 7,189.10 6,042.14 5,370.13 5,614.76
Cash and Short Term Investments 17,784.93 15,845.77 14,412.61 12,733.67 12,134.51
Trade Accounts Receivable, Gross 2,543.11 2,722.28 2,616.75 2,709.23 2,611.19
Provision for Doubtful Accounts -- (80.09) (75.26) (67.33) (50.28)
Trade Accounts Receivable, Net 2,543.11 2,642.19 2,541.49 2,641.90 2,560.91
Other Receivables -- 0.00 0.00 0.00 0.00
Total Receivables, Net 2,543.11 2,642.19 2,541.49 2,641.90 2,560.91
Prepaid Expenses 1,317.86 1,404.11 897.35 846.87 697.79
Deferred Income Tax - Current Asset 434.90 286.11 111.40 94.40 71.72
Other Current Assets, Total 434.90 286.11 111.40 94.40 71.72
Total Current Assets 22,080.80 20,178.18 17,962.85 16,316.84 15,464.93
Land/Improvements -- 1,725.34 1,336.75 1,018.80 1,014.04
Machinery/Equipment -- 3,634.96 3,455.58 3,248.50 3,150.76
Construction in Progress -- 1,643.14 1,979.96 2,214.02 1,810.64
Leases -- 572.91 553.51 531.68 455.41
Property/Plant/Equipment, Gross -- 7,576.34 7,325.79 7,013.00 6,430.85
Accumulated Depreciation -- (2,342.50) (2,112.63) (1,875.29) (1,689.13)
Property/Plant/Equipment, Net 5,122.11 5,233.84 5,213.17 5,137.71 4,741.72
Page 29 of 108
Goodwill, Net 4,830.32 4,839.85 4,821.65 4,853.81 4,791.40

Intangibles, Gross -- 1,560.94 1,544.27 1,560.81 1,545.72
Accumulated Intangible Amortization -- (564.25) (496.55) (421.82) (341.75)
Intangibles, Net 910.34 996.69 1,047.72 1,138.99 1,203.97
Other Long Term Investments 101.00 85.16 1,100.90 1,067.52 1,056.97
Total Long Term Investments 101.00 85.16 1,100.90 1,067.52 1,056.97
Deferred Income Tax - Long Term Asset 52.30 0.00 204.32 220.08 155.59
Other Long Term Assets 416.17 433.85 456.38 444.84 190.40
Other Long Term Assets, Total 468.46 433.85 660.70 664.92 345.99
Total Assets 33,513.03 31,767.58 30,806.97 29,179.79 27,604.98
Accounts Payable 196.22 178.00 240.71 439.28 358.12
Accrued Expenses 1,452.90 1,824.45 1,683.23 1,565.69 1,730.86
Notes Payable/Short Term Debt -- 0.00 0.00 0.00 0.00
Customer Advances 216.94 218.08 200.38 197.43 194.07
Income Taxes Payable 317.80 81.55 99.96 143.11 177.43
Other Current Liabilities, Total 534.74 299.63 300.34 340.55 371.50
Total Current Liabilities 2,183.85 2,302.09 2,224.28 2,345.52 2,460.48
Total Long Term Debt -- 0.00 0.00 0.00 0.00
Total Debt -- 0.00 0.00 0.00 0.00
Deferred Income Tax - Long Term Liability 0.00 12.52 20.42 22.20 --
Total Deferred Income Tax 0.00 12.52 20.42 22.20 --
Other Long Term Liabilities 1,481.08 1,214.11 1,087.42 899.06 806.97
Other Liabilities, Total 1,481.08 1,214.11 1,087.42 899.06 806.97
Total Liabilities 3,664.93 3,528.71 3,332.11 3,266.77 3,267.45
Common Stock 0.32 0.32 0.32 0.31 0.31
Total Common Stock 0.32 0.32 0.32 0.31 0.31
Additional Paid-In Capital 14,694.50 14,450.34 14,194.20 13,904.27 13,561.95
Retained Earnings 14,984.46 13,561.63 13,179.19 11,889.25 10,641.86
Other Comprehensive Income 168.82 226.58 101.16 119.18 133.42
Other Equity, Total 168.82 226.58 101.16 119.18 133.42
Total Stockholders' Equity 29,848.10 28,238.86 27,474.86 25,913.02 24,337.54
Total Liabilities and Shareholders Equity 33,513.03 31,767.58 30,806.97 29,179.79 27,604.98
Shares Outstanding - Common Stock, Primary 240,809,920 236,097,000 239,364,000 238,889,000 237,927,000
Issue
Shares Outstanding - Common Stock, Issue2 74,893,470 76,820,000 75,223,000 75,364,000 75,569,000
Total Common Shares Outstanding 315,703,390 312,917,000 314,587,000 314,253,000 313,496,000
Treasury Shares - Common Primary Issue 26,000 26,000 46,000 99,000 215,000
Treasury Shares - Common Issue2 -- -- -- 2,000 13,000
Cash Flow - Interim/Quarterly
Cash Flow - Interim/Quarterly

16-Apr-2009 13-Feb-2009 07-Nov-2008 07-Aug-2008 12-May-2008
Interim Cash Flow Statement: (USD, In
millions)
Net Income 1,422.83 4,226.86 3,844.42 2,554.48 1,307.09
Depreciation 321.13 1,212.24 898.76 589.28 280.56
Accumulated Depreciation and Depletion 321.13 1,212.24 898.76 589.28 280.56
Amortization of Intangibles 82.09 287.65 215.62 138.85 55.96
Page 30 of 108
Amortization 82.09 287.65 215.62 138.85 55.96

Deferred Taxes (12.85) (224.65) (124.60) (105.89) (38.21)
Unusual Items -- 1,094.76 -- -- --
Other Non-Cash Items 224.23 928.77 704.34 433.92 184.78
Cash Taxes Paid -- 1,223.99 743.44 378.55 12.09
Cash Interest Paid -- 1.56 1.29 0.95 0.39
Accounts Receivable 97.39 (334.46) (218.33) (296.38) (223.49)
Prepaid Expenses 77.46 (147.13) (169.96) (182.80) (41.58)
Accounts Payable 21.88 (211.54) (152.17) 39.24 53.78
Accrued Expenses (318.08) 352.91 158.45 (163.70) (244.40)
Taxes Payable 324.75 626.03 552.67 528.36 438.18
Other Liabilities 8.68 41.43 21.35 10.25 6.79
Changes in Working Capital 212.08 327.23 192.03 (65.04) (10.73)
Cash from Operating Activities 2,249.51 7,852.86 5,730.56 3,545.60 1,779.45
Purchase of Fixed Assets (262.76) (2,358.46) (1,990.62) (1,539.11) (841.60)
Capital Expenditures (262.76) (2,358.46) (1,990.62) (1,539.11) (841.60)
Acquisition of Business (2.07) (3,320.30) (3,287.71) (3,312.27) (3,125.11)
Sale/Maturity of Investment 5,109.59 15,762.80 9,634.90 7,416.56 5,379.23
Purchase of Investments (5,263.60) (15,403.46) (7,859.16) (4,930.80) (2,819.51)
Other Investing Cash Flow Items, Total (156.08) (2,960.96) (1,511.97) (826.51) (565.40)
Cash from Investing Activities (418.83) (5,319.42) (3,502.58) (2,365.63) (1,406.99)
Other Financing Cash Flow 31.84 159.09 114.77 94.98 51.10
Financing Cash Flow Items 31.84 159.09 114.77 94.98 51.10
Sale/Issuance of Common Stock -- 0.00 -- -- --
Common Stock, Net -- 0.00 -- -- --
Options Exercised (36.74) (71.52) (38.25) (22.75) (22.45)
Issuance (Retirement) of Stock, Net (36.74) (71.52) (38.25) (22.75) (22.45)
Cash from Financing Activities (4.89) 87.57 76.52 72.23 28.66
Foreign Exchange Effects (56.17) (45.92) (15.62) 29.74 37.05
Net Change in Cash 1,769.62 2,575.08 2,288.88 1,281.94 438.16
Net Cash - Beginning Balance 8,656.67 6,081.59 6,081.59 6,081.59 6,081.59
Net Cash - Ending Balance 10,426.29 8,656.67 8,370.47 7,363.54 6,519.75
Cash Interest Paid, Supplemental -- 1.56 1.29 0.95 0.39
Cash Taxes Paid, Supplemental -- 1,223.99 743.44 378.55 12.09
Income Statement - Interim/Quarterly
Income Statement - Interim/Quarterly

Update Type/Date Normal Normal Normal Normal Reclassified
16-Apr-2009 13-Feb-2009 07-Nov-2008 07-Aug-2008 16-Apr-2009
Interim Income Statement: (USD, In millions)
Net Sales 5,508.99 5,700.90 5,541.39 5,367.21 5,186.04
Total Revenue 5,508.99 5,700.90 5,541.39 5,367.21 5,186.04
Cost of Revenue 2,101.50 2,190.01 2,173.39 2,147.58 2,110.54
Gross Profit 3,407.49 3,510.90 3,368.00 3,219.64 3,075.51
Selling, General and Administrative Expense 882.25 917.35 1,015.87 959.46 856.20
Research and Development 641.64 733.34 704.57 682.21 673.07
Impairment-Assets Held for Sale -- 1,094.76 -- -- --
Total Operating Expense 3,625.40 4,935.46 3,893.83 3,789.25 3,639.81
Operating Income 1,883.59 765.45 1,647.57 1,577.97 1,546.24
Page 31 of 108
Non-Operating Interest Income -- 88.45 91.00 88.09 122.00

Non-Operating Investment Income -- (19.96) (70.53) (35.48) 48.30
Non-Operating Interest/Investment Income -- 68.49 20.47 52.61 170.30
Non-Operating Interest Income (Expense), 6.21 -- -- -- --
Net
Other Non-Operating Income -- 1.41 0.75 5.32 (2.96)
Other Non-Operating Income, Net -- 1.41 0.75 5.32 (2.96)
Income Before Tax 1,889.80 835.35 1,668.78 1,635.89 1,713.58
Total Income Tax 466.97 452.90 378.84 388.50 406.49
Income After Tax 1,422.83 382.44 1,289.94 1,247.39 1,307.09
Net Income Before Extraordinary Items 1,422.83 382.44 1,289.94 1,247.39 1,307.09
Net Income 1,422.83 382.44 1,289.94 1,247.39 1,307.09
Income Available to Common Excl. 1,422.83 382.44 1,289.94 1,247.39 1,307.09
Extraordinary Items
Income Available to Common Incl. 1,422.83 382.44 1,289.94 1,247.39 1,307.09
Extraordinary Items
Basic Weighted Average Shares 315.25 314.65 314.24 313.82 313.13
Basic EPS excluding Extraordinary Items 4.51 1.22 4.10 3.97 4.17
Basic EPS including Extraordinary Items 4.51 1.22 4.10 3.97 4.17
Dilution Adjustment -- 0.00 0.00 0.00 0.00
Diluted Net Income 1,422.83 382.44 1,289.94 1,247.39 1,307.09
Diluted Weighted Average Shares 317.22 316.86 317.78 318.02 317.39
Diluted EPS excluding Extrordinary Items 4.49 1.21 4.06 3.92 4.12
Diluted EPS including Extraordinary Items 4.49 1.21 4.06 3.92 4.12
Dividends per Share - Common Stock, -- 0.00 0.00 0.00 0.00
PrimaryIssue
Dividends per Share - Common Stock, Issue2 -- 0.00 0.00 0.00 0.00
Gross Dividends - Common Stock -- 0.00 0.00 0.00 0.00
Depreciation, Supplemental 321.13 313.48 309.48 308.72 280.56
Total Special Items 0.00 1,094.76 -- -- 1,094.76
Normalized Income Before Tax 1,889.80 1,930.11 1,668.78 1,635.89 2,808.34
Effect of Special Items on Income Taxes 0.00 593.55 -- -- 82.28
Income Taxes Excl. Impact of Special Items 466.97 1,046.45 378.84 388.50 488.77
Normalized Income After Taxes 1,422.83 883.65 1,289.94 1,247.39 2,319.57
Normalized Income Available To Common 1,422.83 883.65 1,289.94 1,247.39 2,319.57
Basic Normalized EPS 4.51 2.81 4.10 3.97 7.41
Diluted Normalized EPS 4.49 2.79 4.06 3.92 7.31
Amortization of Intangibles, Supplemental 82.09 69.00 76.00 80.00 55.00
Latest News
Latest News
1. Science and Technology; TECHTONIC SHIFTS
Number Crunching Made Easy; Cloud computing is making high-end computing readily available to researchers in rich
and poor nations alike.
By Christopher Werth
921 words
18-May-2009
Newsweek International
May 11-18, 2009; ; International Edition
0
Volume 153, Number 20, ISSN 0163-7053
English
Copyright (C) 2009 Newsweek Inc. All Rights Reserved.
Page 32 of 108
A dwindling water supply spells disaster for the residents of Brazil’s arid Northeast, who live by subsistence agriculture. Droughts
have become longer and more frequent, and every year more families set off for the urban slums. Predicting how rainfall patterns
will shift in a few years and how it will affect aquifers and agricultural output has become an urgent task. Civil engineers need to
know where to build reservoirs and how much water they should hold. But this kind of local climate modeling requires a lot of
number crunching, and supercomputers are rare in these parts.
To get around this hurdle, a group of universities and government labs, called SegHidro (which means “water security”), pooled the
computing resources in labs scattered throughout the country. Using software called OurGrid, they adapt global climate models to
local conditions, parceling out pieces of the massive job to little computers in the network. This kind of collaboration is getting a big
boost from new so-called cloud-computing services from Amazon, Google and Microsoft. By driving down the cost of scientific
computation, it promises to be a boon to researchers in rich and poor nations.
Distributing big research computing tasks via the Web isn’t new—for years scientists have been divvying up projects among global
networks of volunteers who make their PCs available for data crunching. But setting up these arrangements is still costly and
cumbersome, and requires computer expertise. This means that a lot of worthy but little-known projects—such as research on
specific strains of antiretroviral-resistant HIV found only in parts of Africa and South America, or the type of local climate modeling
that SegHidro carries out—have fallen by the wayside. Cloud computing, though, is beginning to put the power of big data centers
at the fingertips of anybody with a Web browser.
Cloud computing has some attractive qualities for scientific researchers. It delivers data storage and processing as a service, rather
than software that’s loaded onto a hard drive, or something that sits on a desk somewhere. Information is held on massive data
centers spread all over the world, and available upon request. In the cloud, the “supercomputer” exists virtually, meaning no clunky
hardware; the software interface is easy to use; and scientists have access to their data and simulations from just about anywhere
by simply logging in. Amazon has been leading the way in on-demand computing for the past decade, invaluable for organizations
with large databases that don’t necessarily want to hire an IT department. The service is flexible and pay-as-you-go. An hour will set
you back 80 cents, or as little as 10 cents per gigabyte. Subscribers buy only what they use, which is ideal for research departments
that face periodic peaks in the computational power they require.
The cloud is already making high-performance computing more readily available to researchers in the developed world. The
Nimbus project at the Argonne National Laboratory in Illinois has developed open-source software that can launch a virtual
supercomputer within minutes on Amazon’s Elastic Compute Cloud. Earlier this month, nuclear physicists at the Brookhaven
National Laboratory in New York used the service to rush through a set of new simulations on data from the lab’s Relativistic
Heavy-Ion Collider—set up to give a glimpse into what the universe may have looked like in its first few moments—rather than
waiting weeks or months for a slot to open up on the lab’s big computers. The innovation could have a profound effect: simplifying
and speeding up research in everything from renewable energies to drug testing.
The developing world stands to gain from the same benefits. Using the cloud, labs can forgo the cumbersome process of linking
hundreds, if not thousands, of desktops—or add more muscle to the networks they already have. “Cloud computing promises to be
the next big wave in computing democratization,” says Dan Reed, director of Microsoft’s Cloud Computing Futures. “Researchers in
developing countries can access the same data and use the same computing infrastructure as researchers in [developed]
countries.”
But clouds still have a way to go before they’re widely accepted. To start, they must earn the trust of researchers, who may think
twice about loading all their information onto the Web. (What if it’s all lost?) In addition, the services are still too expensive for many
developing nations. Even mere pennies per gigabyte can quickly add up, especially for labs with very little to begin with. A row
broke out recently over the issue of accessibility. Big players like Google, Microsoft and Amazon refused to sign on to the Open
Cloud Manifesto, developed by a consortium of technology firms, which has tried to define the cloud as a public resource for
everyone’s benefit, to be given over to philanthropic causes wherever possible.
Researchers, though, may not have to wait for a manifesto. Prices will eventually drop, and cloud operators could make their own
special arrangements for customers with large workloads, or with those from countries most in need. The UK’s Hadley Centre for
Climate Prediction and Research, for instance, is now in negotiations with Amazon to sponsor a West African researcher for free
access to their cloud computing services. The cloud is already being used to bridge the digital divide.
Document NEWI000020090504e55i00013
2. People
ICICI's first among equals
893 words
17-May-2009
Business Today
English
(c) 2009 Living Media India Ltd
It's a demonstration of an institution's bench strength that within days of two of their top honchos putting in their papers, their
replacements were announced: Especially when the outgoers have nursed the businesses since inception. This is exactly what
ICICI Group did recently. When Renuka Ramnath, with two decades of experience at the Group, abruptly left the venture capital
arm, young turk VISHAKHA MULYE, 40, promptly stepped into Ramnath's shoes. Mulye, another career ICICI finance whiz who
started off as management trainee, blazed through the ranks to become the Group CFO to now MD of ICICI Venture. ICICI Venture
has a very sound platform of business, domain knowledge and talented people. I would like to build on this strength, she says.As
ICICI Group CFO and treasurer from 2005-07, Mulye raised nearly $7 billion in equity via two public offerings of $1.8 billion and $5
billion, and another $5 billion by way of bonds.
That probably makes this chartered accountant the only woman CFO to have raised a staggering $12 billion in a matter of two
Page 33 of 108
years.Ramnath, 47, now plans to start her own venture shortly. She took the venture's corpus to a smashing $2 billion in private
equity, buyouts, and real estate and mezzanine assets in the last 6-8 years. Before getting on to the venture subsidiary, Ramnath
also spearheaded various business initiatives right from merchant banking division, corporate finance and equities, structured
finance business and e-Commerce.Ramnath's contemporary at ICICI's life insurance arm, ICICI Prudential, SHIKHA SHARMA, 50,
has pounced on the hot job of CEO & MD, Axis Bank, the third-largest private sector bank (see The Change Agent, page 120). Her
successor is not yet announced; it's all but certain that V. Vaidyanathan, Executive Director (Retail & Rural), ICICI Bank, will take
over from her. Their exits come close on the heels of Chanda Kochhar donning the mantle of CEO & MD from May this year.ICICI's
list of home-grown divas does not end here. It wasn't long ago when Madhabi Puri-Buch took over as CEO & MD of ICICI
Securities, one of the largest integrated securities firms in India. Prior to that, Madhabi was an Executive Director on the board of
ICICI Bank. And last year, Kalpana Morparia moved out to join JP Morgan's India operations. With ICICI's women at the top making
power moves all at the same time, watch out for the next rung of rising stars. Goldman's silver lining For an investment banker in the
midst of financial meltdown, Lloyd C. Blankfein, 54, Chairman & CEO, The Goldman Sachs Group, Inc., is full of beans. I am
generally optimistic about the economic picture, says Blankfein. In Hyderabad on his second visit to the Indian School of Business
(ISB), the Chairman of Goldman Sachs, who is also on the governing board of the school, perhaps, has good reasons to be
optimistic, considering that this quarter his company reported profits. Is this the sign of a turnaround? I accept it is a turnaround...
but we are not out of the woods yet. He cautions that though there are some hopeful signs, there are still difficult problems to deal
with. Therefore, it is still unlikely that this is the turn, but if this isn't the turn, I assure you we are not that far from it. Coming from
Blankfein, that will be music to I-bankers' ears. Yahoo!'s find Arun Tadanki, 38, IS SOMEthing of an Internet and job portal veteran,
having spent nine years working at jobsahead. com and monster.com. Little surprise then, struggling web giant Yahoo! has zeroed
in on him to fix its stuttering business in India. Yahoo! has been battered in recent times by Google's marauding growth, Microsoft's
online emergence and the continued strength of local players such as Rediff. Tadanki, who'll be Yahoo!'s MD for Asia Pacific,
Middle East and Africa, will have his hands full competing in the fast-growing Indian market and re-igniting growth. Although he
confirmed his appointment, Tadanki, a part-time disc jockey, declined to comment on his plans to revive Yahoo!'s fortunes. Clearly,
the man prefers to walk another talk. Slumdog Millionaire in Election Fray For E. Sarathbabu, 30, Founder and Ceo, Food King
Catering Services, contesting as an independent from the elite South Chennai for an MP seat is a natural corollary to a belief that
he must empower the youth in India in every way. I want the youth, who represent 65 per cent of our population, to realise that
though politics is dirty, this is still our India. Sarathbabu grew up in a slum, helping his mother eke out a living selling idlis, to
subsequently graduate out of BITS Pilani and IIM-Ahmedabad and then set up a lowcost but, quality and volume-driven food
business in 2006. His first order was to supply 75 teas and 25 coffees and this has grown to providing 15,000 meals a day with a
staff of 200. His long-term goal is to eradicate hunger and unemployment. No doubt the MBA degree is helping, but so is the
slumdog millionaire appeal! Contributed by Anand Adhikari, E. Kumar Sharma, Nitya Varadarajan and Rahul Sachitanand
Document BTDY000020090505e55h0000s
3. Special
Greenhorn entrepreneurs
Rahul Sachitanand
1503 words
17-May-2009
Business Today
English
In December 2008, serial entrepreneur and coveted angel investor Kanwal Rekhi, Founder, Excelan and The Indus Entrepreneurs
(TiE), and (more recently) Inventus Capital, held a mentoring session in Bangalore. The event, organised by TiE as part of its
Entrepreneurship Summit in India's IT capital, was expected to draw 30 attendees. Instead, it was a standing room only where this
'guru talk' session was held, with over 150 wide-eyed founders turning up.
A few kilometres away, Sudhir Sethi, India Managing Director, IDG Ventures, which focusses on early-stage start-ups, was wading
through a raft of business plans in his Commissariat Road office in Bangalore's central business district. IDG Ventures received
some 700 plans last year, says Sethi, and if that frenetic pace keeps up, the firm expects to get at least 1,000 proposals this year.
What's hot, What's notAreas wannabe entrepreneurs should be eyeing and those they should be
avoiding.
Hot
Cold
Security
Online travel
Mobile VAS applications
Social networking
Energy efficiency
Plain vanilla IT services
Wireless
Core banking software
Clean tech
SAP/ Oracle competing enterprise apps
Several other seed, angel and venture capital investors, too, say that the number of enquiries and deal flow are on the rise. Our
deal flow has increased 50 per cent over the last six months, says Subrata Mitra, Partner, Accel India, which acquired Erasmic
Venture Fund earlier this year. TiE's Bangalore chapter, which had 838 members as of March 31, 2008, today has over 1,200
members.
TiE's Entrepreneurship Summit, which was expected to be packed to the rafters with some 1,500 attendees, actually attracted over
1,700. Based on this sort of response, Samir Kumar, Managing Director, Inventus Capital India, expects to invest in at least four or
Page 34 of 108
five companies this year. The main driver for the increased interest is lower opportunity costs, since talent is cheaper and rentals
more affordable, he says.
Small beginnings In Jayanagar 4th T Block in southern Bangalore, Hari Prakash Shanbhog, Co-founder, Ipomo, a company that
provides mobile learning solutions, is in the process of setting up shop. When this writer met Shanbhog, only a couple of tables had
been rigged with notebooks and telephone lines. We've learnt to do everything on our own, he laughed. We've negotiated directly
with landlords and got a 25-30 per cent decrease in rentals. A year ago, Shanbhog quit a senior position with Wipro to bootstrap his
venture, which got backing from a clutch of investors, including former Wipro President Ramesh Emani. Down the street from
Ipomo's office, Srikanth Chunduri and his classmate from school, Aditya Bhamidipaty, went through an exhaustive list of
entrepreneurial options, ranging from biofuels to vegetable retailing before setting on their current business plan: An online group
marketing venture called GoVasool.
GoVasoolWhat is it: Online group marketing ventureFounders: Srikanth Chunduri (R) &; Aditya
Bhamidipaty (L)Last jobs: Chunduri Mitchell Madison Strategic Consulting; and Bhamidipaty iGATE
Global We went through an exhaustive list of entrepreneurial options, ranging from biofuels to
vegetable retailing
In August last year, a trio of young executives in Delhi decided to hang up their corporate suits to start a community-based venture
in alternative tourism called 78mm Adventures. It all started in 2005, when Jeet Sachdeva, a hospitality management graduate,
Jagrit Gupta, an IT engineer, and Vivek Pratap Singh Rathore, a computer science graduate, joined the MBA course at Nirma
Institute of Management. We shared a passion for weekend escapades, recalls 26-year-old Sachdeva, who worked as a feasibility
consultant for Howarth HTL. The biggest stumbling block they encountered along the way wasn't funding or generating demand for
their service, but parental pressure. Once they succeeded in veering around that problem, the trio began conducting a variety of
offbeat trips, from beachfront jams and jungle night camps to desert safaris and cloud trekking. 78mm Adventures offers enthusiasts
real and virtual platforms to share information about places to visit in India. Our focus is to discover newer places and build online
communities around them. We have a database of over 100 itineraries. So far, we have organised over 12 events (read trips), says
Sachdeva.
Change in attitude
IpomoWhat is it: A mobile learning solutions firmFounders: Hari Prakash Shanbhog (back) &;
Vidhyadhara S. Talya (front)Last jobs: Both worked with Wipro We've negotiated directly with
landlords and got a 25-30 per cent decrease in rentals
Scattered fishponds of entrepreneurship can always be found in any market (in any environment), but rarely do a slew of factors
conspire to come together as they have in today's changed market conditions to result in a discernible start-up wave. One, a
slowdown allows entrepreneurs to buy office space cheap and acquire talent that would have been out of bounds in the good times.
In Bangalore or Mumbai, realty analysts estimate prime rental space is available 15-25 per cent cheaper than during the peak
period 18-24 months ago.
KreeoWhat is it: A collective intelligence platformFounder: Sumeet AnandLast job: Cranes Software
We launched the beta version of our product in January and hope to launch a final cut in the next
few months
Then, several large companies such as Google, which announced plans to shut its radio and SMS service, are moving out of
several markets, clearing the way for young start-ups to blossom. Specifically, for Indian start-ups, the growth of the domestic
market has been a boon. Simultaneously, investors say that entrepreneurs today are more globally aware than their predecessors a
decade ago. The world is more connected today and, therefore, entrepreneurs have more access to data, unlike their predecessors,
who had to take educated guesses at best, says Mohit Goyal, a member of the Indian Angel Network.
There are other factors, too, that are catalysing this interest in entrepreneurship. For example, the slowdown has meant that several
people have lost their jobs, or at least face reduced salaries and frozen promotions and increments. Faced with this stalling growth,
many executives are turning entrepreneurs. We see a lot of interest in entrepreneurship in the 25-30 age-group, a phase during
which there is little to lose, says Inventus' Kumar.
78mm AdventuresWhat is it: An alternative tourism ventureFounders: Jeet Sachdeva (C), Jagrit
Gupta (R), Vivek Pratap Singh Rathore (L)Last jobs: Gupta TVS Motors; Sachdeva Howarth HTL; and
Rathore Gujarat Gas Company Our focus is to discover newer places and build an online community
around them
Some VCs are promoting hybrid models that have founders running day-to-day operations with a senior pro, who assumes charge
as Chief Executive or Chairman, managing the big picture. Mahesh Murthy, Managing Partner, Seedfund, a firm that funds
companies at the most risky seed stage, says there is an increased interest in entrepreneurship as youngsters realise that the
blue-chip investment banking jobs are now harder to come by and they don't want to settle for smaller companies. However, the
number of companies providing the more risky seed stage funding has reduced from six or seven a couple of years ago to just a
couple today, points out Murthy. We have also noticed that although we receive fewer junk business plans, the number of viable
ideas continues to hold steady. Besides the rush of Internet-based ventures, we notice increased interest in social entrepreneurship,
the rural market, education and healthcare, he adds.
Cost compulsion To keep costs in check, start-ups have adopted varying strategies. For example, Sumeet Anand, Founder,
Kreeo.com, a provider of software that collects and categorises various types of data, hired a group of eight freshers and trained
them on the job to build the company's application.
His office, on Sarjapur Road, just down the street from Wipro's sprawling HQ, is bare, with his 'cubicle' being a corner of a large
Page 35 of 108
room that serves as the company's base. We launched the beta version of our product in January this year and hope to launch a
final cut in the next few months, says Anand, who has got backing from serial technology entrepreneur Sashi Reddy.
Despite the enthusiasm of most entrepreneurs, investors, especially angel and seed investors, remain wary about current market
conditions. The amount of money they have in hand to invest has come down and even VCs are investing smaller amounts and
taking longer to finalise their investments, says Mitra of Accel. According to estimates from Venture Intelligence, an investment
tracking agency, VC firms made just 18 deals in the fourth quarter of calendar year 2008 as compared to 35 in the same quarter a
year ago. Consequently, the amount of money they invested, too, fell sharply from $241 million to $91 million.
The fair-weather entrepreneur will disappear, says Kumar of Inventus Capital. The few who do make it big will look back at that part
of curve that corresponds with the current slowdown as one of their most fruitful learning phases, ever.
Additional reporting by Manu Kaushik
Document BTDY000020090505e55h0000i
4. Special
Campus interview? No Thanks!
N. Madhavan
1206 words
17-May-2009
Business Today
English
Deepesh Agarwal (30), Sunil Kaura (27) and Ankur Arora (26) have just graduated from Indian School of Business (ISB). This trio
will go on to do something pretty different from what most of their classmates will opt for. They will soon be starting a business of
their own. Agarwal intends to develop an application that will, through the use of a mobile phone, enable people to share
transportation on a real-time basis. For instance, if you are leaving for the airport and would like to know if there are others in your
locality who are headed there, all you need is a cellphone to find that out. Many mailing groups and chat groups have tried
furthering the cause of shared transportation, but have not met with success. By using a mobile phone-based application, Agarwal
intends to actually reduce traffic as well as pollution on the roads.
*Going soloAlmost all the top engineering colleges and B-schools are seeing an enhanced interest
in students willing to start a business on their ownReal businesses get built in bad times. Cisco
Systems, Apple, Oracle and Hewlett-Packard are some examplesThe global meltdown has reduced
opportunity costs and made entrepreneurship more attractiveBut challenges remain, funding being
the main obstacle
Kaura and Arora are working towards setting up state-of-the-art childcare centres, which will not only offer best hygiene and
environment standards but also interface with technology to create an all-new childcare system in India. Agarwal, Kaura and Arora
may be the exceptions at ISB, but they represent a large number of engineering and management graduates who are giving jobs in
the corporate sector a go-by and, instead, taking to entrepreneurship, despite the downturn. Or, perhaps, because of it.
The downturn has made jobs scarce, moderated runaway salaries and increased uncertainty with regard to employment. These
factors have together made starting a business of your own a relatively attractive option, explains Sushanto Mitra, CEO, Society for
Innovation and Entrepreneurship (SINE), IIT Bombay. SINE extends support to technology-based entrepreneurship.
There is an increasing trend in the last few years among students wanting to start on their own. Last year, 50-odd students from IIT
Bombay opted for entrepreneurship. This year, I expect a larger number, he says. The new-found zeal isn't restricted to Mumbai.
Says Ajit Rangnekar, Dean, ISB, Hyderabad: Our Wadhwani Centre for Entrepreneurship Development usually receives 5-10
applications from students every year. This year, we have got more than 100.
At the Centre for Innovation, Incubation & Entrepreneurship (CIIE), IIM-A, the situation is more or less similar. Says CEO Kunal
Upadhyay: CIIE, which focusses on hi-tech businesses in the field of information and communication technology, healthcare and
clean energy, typically sees 10-15 students opting to become entrepreneurs every year. We expect larger numbers next year if the
downturn continues for a longer time.
IIT Madras' Rural Technology Business Incubator (RTBI) is another institution that's seeing more enquiries and footfalls. Earlier, in a
month, we would see one person walking in with a proposal. Now, we get at least four enquiries a month, says Lakshmi
Vaidyanathan, RTBI's Senior Manager. RTBI designs, pilots and incubates business ventures that have a rural focus.
Less chunky salary packages may be a good reason to go it alone, but that's not the only provocation. Starting up in a downturn has
its advantages. In a downturn, people end up building real businesses. More disruptive innovations, which are very relevant to
consumers, also tend to get developed in difficult times. In a boom market, the innovation is typically incremental and businesses do
not have a very good value proposition, says Upadhyay.
What's more, a slowdown levels the playing field for a start-up vis-a-vis an established player. In bad times, most established
players cut back on sales expenses, advertising and promotions to keep their costs under control. This allows a start-up to enter the
market when there is a lull. Also, you get a lot more time to work on your products as there is not much of activity in the
marketplace. In terms of cost, starting up in a downturn would mean lower rentals, and good people at lower salaries, explains
Mitra.
Page 36 of 108
That's a refrain one constantly hears from budding start-up artistes. But there is a flip side, too funding isn't easy to come by. In
boom time, business plans get funded. In tough times, companies get funded. If you are just out of college with little experience,
getting money is a difficult task, says R. Ramaraj, President, The Indus Entrepreneurs (TiE), Chennai. Also, in bad times, the
market for products shrinks as customer confidence takes a beating. It involves a lot more effort to sell your products. But the
graduates taking the plunge today would be taking heart from the renowned promoters of mega-corporations such as Cisco
Systems, Apple, Oracle and Hewlett-Packard they were all started in a downturn.
Different strokes for different folksEntrepreneurship is coming of age in India. While passionate
entrepreneurs have always created successes, the enablers now available in the forms of capital,
ready talent, and fast-growing markets, are making entrepreneurship the aspiration of a wide
variety of people. Here is a quick guide to what you can leverage and what to watch out for,
depending on when you choose to start your business.The studentStrengths: Creative disrupter.
Energy and enthusiasm not yet clouded by experiences of failure.Choice of business: Think Yahoo!,
Google and Virgin. Wide open areas and inherently new models high on ideas, low on logistical
complexity. Build for like-minded customers. Force multipliers: Seek mentors and advisers, but
follow your conviction. Build an execution team with experienced people as you scale. Stay at the
edge be it with employees or with customers serve early-adopters at the fringe and build inwards
from there.30-somethingStrengths: Young enough to dream, experienced enough to implement. Support
and credibility amongst wide range of people. Time on your side.Choice of business: Think
Reliance, Turner and Infosys. Formative industries with long-term change potential. Simple ideas,
consistent execution, patience.Force multipliers: Leverage the ecosystem. Play for a long term
marathon is your sport. Cultivate and exploit relationships, both with senior executives and with
young talent. Build complementary teams and share decision-making. Fly under the radar as long as
possible.Senior executiveStrengths: Deep domain knowledge and execution skills. Extensive
leverage on resources.Choice of business: Think Southwest, Rediff and WNS. Large existing markets
where personal knowledge and insights create opportunity.Force multipliers: Build inside out
incremental innovations, superb execution. Use industry networks to build the best team and
optimal partnerships. Act big before you get big adopt and create industry-wide platforms.
Inspire and lead.The true spirit of entrepreneurship lies in its diversity and unpredictability.
So, regardless of where you are in your career, remember to follow your gut. The excitement is
often not in where you are headed, but in the journey itself. Have fun!where you are headed, but
in the journey itself. Have fun!The author is Managing Director of venture capital firm, Canaan
Partners
Document BTDY000020090505e55h0000h
5. MT REGULAR
Net gains for realty buyers
Rakesh Rai
1331 words
14-May-2009
Money Today
English
"This scarecrow of a suit has, in course of time, become so complicated that no man alive knows what it means … Innumerable
children have been born into the cause; innumerable old people have died out of it. "
- Charles Dickens
The novelist may have been railing against the legal system, but today the rant may well be against the real estate firms that are
learning the art of procrastination.
Several real estate companies announced ambitious projects, took booking fees from buyers and then were probably forced to
delay things. Lack of finances and a slump in demand led them to push back ongoing projects. They reckoned that if they stalled for
some time, people would either forget the project or would be willing to pay more just to see it completed. They did not foresee that
their customers would join forces to fight such delays.
Perhaps the developers hoped for a class action suit, which would have led to infinite legal delays. Instead, the buyers have
decided to let public pressure do the job.
Around 900 buyers of apartments in a housing project on Old Mahabalipuram Road, near Chennai, formed an online group on
Google Groups in March 2008. They collectively built pressure on the company to refund the buyers who wanted to exit the project.
The reason: inordinate delay in completion and the builder's inability to get the plan approved. Subsequently, the company was
forced to reach out to them in a bid to stop a majority of them from pulling out. Apart from bringing down the costs, the company, in
a letter dated 28 March 2009, said that it would return full booking amount to all the customers who wanted to exit.
This is not an isolated case. A similar group has been formed for a project in Gurgaon, launched in June last year. "Quite a few
online groups of buyers have been formed after getting in touch with us. Till now, the buyers have been at the receiving end of
builders' whims. We have now found a new voice, expressing our collective will through the Internet forums, " says M.S.D. Prasad,
who spearheaded the group for the Chennai project.
Similarly, a Yahoo Group has been formed by the buyers of another project in Gurgaon, who are concerned about the delay in its
completion. Buyers of yet another real estate project have formed a group as the builder has not been responding to their
complaints. Nitin Goel, a member of the group, says, "Our builder has also been demanding payment as per a timelinked plan,
Page 37 of 108
though it had said it would take it as per a construction-linked plan. "
Cases like Prakash Agarwal's are sadly becoming too common. "My mother booked a unit in a project in Gurgaon, which the
developers promised to deliver by mid-2009, " he says. "When we visited the site in January this year, we saw hardly any
construction. We were told that it would start by end-January, but even in April the situation is the same. Now they say that we will
get possession only by the end of 2010. We have already paid 95% of the cost, " adds Agarwal.
Other buyers are railing against the fact that while they have paid more for a house, the buyers who came in later are being wooed
with discounts. "If developers are willing to offer huge discounts to generate new sales, shouldn't they be considerate towards the
buyers who came in at the beginning and got the project going? " asks Shaleen Garg, an investor in a Gurgaon project.
Dinesh Verma, Chartered Accountant, Delhi

Core member of a Yahoo Group on a housing project in Gurgaon. The group is demanding timely
completion of the project, an exit option and price cuts. The membership has grown from 20 to 800
in four months.
"If a realty company has the right to launch projects, then it is its duty to listen to the
existing customers. "
Experts say that this activism comes at a time when builders are already facing problems. "One reason for the increasing incidence
of disputes is the decline in real estate valuations, which is prompting the buyers who had booked property at high prices to seek
refunds and switch to cheaper developments, " says Anuj Puri, chairman of Jones Lang LaSalle Meghraj. "It is true that many
projects have been delayed for genuine reasons like lack of finance, but at the same time, the tolerance level of buyers has gone
down, " he adds.
Experts see the coming together of home buyers as symptomatic of young investors using technology to bargain for better deals
with realty firms. "These days, we have far more discerning buyers. They are not people who have invested money in a project at a
later stage in life and are dependent on the developer for delivery of the project, " says Aditi Vijayakar, executive director,
residential, at Cushman & Wakefield Asia.
Of course, the Internet is not the only option, but it is fast becoming the most popular. It's cheap and has an incredible reach. Here's
how you can leverage the power of the Internet to get people together and fight for a common cause.
DEDICATED WEBSITES: If you are considering the purchase of an apartment, all it takes is a click of a mouse to access feedback
from buyers on the developer or the project. Websites like complaints.com or mouthshut.com offer such platforms. The opinions,
posted so freely, make it imperative for the companies in a competitive market to respond to complaints.
VIDEO CLIPPINGS: Sites that are similar to YouTube can work as powerful tools of complaint. A buyer, after he moved into his
house, found that the developer was not redressing complaints about peeling paint, cracking plaster, etc. He shot a seven-minute
video of all that was wrong in the building and posted it on YouTube. Soon after the link was posted, the management stepped in to
carry out the muchneeded repairs.
BLOGS: Create a free blog and drive traffic to it by posting links on popular forums. People with similar problems will find their way
to your blog and a community will be formed with little effort.
CONSUMER RIGHTS GROUPS:. Organisations like Consumer Voice and Investor Helpline have also gone online and allow
registered users to post complaints and opinions. "The idea is to give the customer access to corporates without having to resort to
the judicial system, " says Virendra Jain of Investor Helpline.
However, while the Internet opens up new avenues, it doesn't come with any assurances of redressal. Do not expect results in a
day just because you have posted your complaint. Though the process starts with one complainant, a random check on the Net
about your particular grievance will give you an idea whether other people are also affected and provide information about the right
forum to join.
"Sometimes joining an existing forum makes much more sense than starting your own crusade because you are immediately in a
position to take advantage of the gains that have been made by the group, " says Dinesh Verma, who is spearheading an online
group against a developer.
You also need to back up the online campaign with offline efforts. But, remember, that while you can fudge the number of hits and
visitors to your site or forum, the company can dismiss the entire campaign as false if you really indulge in such an activity.
As the number of online groups grows, you will have to think of newer ways to force the developer to sit up and take notice. "One
trick we have used successfully is by approaching the corporate communications department of these companies and threatening to
go to the media. The links are easily available on most companies' Websites, " says a blogger.
If all else fails, there are always the courts and class action suits - but be prepared to face delays.
Document MONTOD0020090506e55e0000f
Performance
Performance
1. Personal Finance
Page 38 of 108
SmartMoney Stock Screen / Technology
By Jack Hough
589 words
07-May-2009
The Wall Street Journal
D5
English
(Copyright (c) 2009, Dow Jones & Company, Inc.)
Bank stocks had a magnificent run in April, measured in percentages. Year-to-date, though, no sector has beaten technology.
Within the S&P 500-stock index, tech climbed 17% through April. That beats consumer staples and health care, sectors that are
supposed to weather downturns better than others.
I can think of four possible explanations. First, tech got thumped harder than defensive industries last year -- harder than the broad
market, too -- so it might have been more due for a lift this year. Second, the stock market might be signaling a pending economic
recovery by promoting one of its most economically sensitive groups. Third, the economic characteristics of technology itself might
have changed. That is, the group might be more defensive today than it has been in the past, since a chief way companies cut costs
in a downturn is to replace costly brains with cheap computer chips. The fourth possibility is simply that the group has got
overbought, in which case it might now be due to underperform.
Nos. 1 and 4 relate to valuation. At a glance, tech looks pricey, but not glaringly so. At April's end, the S&P 500 traded at 15 times
this year's operating earnings forecasts. Its tech components went for 18 times earnings. Price/earnings ratios, though, are based
only on companies' shares, not the full cost to own companies outright. That cost includes debt. Tech concerns, like drug makers
and unlike banks, utilities and manufacturers, are relatively free of debt and many are cash-rich, so they might be worth a bit more.
They might also be worth more if their earnings can be expected to grow relatively quickly, and that relates to reason No. 3. The
good news for tech is that while profits for most companies imploded last year -- they fell 40% for the broad market and went
sharply negative for banks -- tech profits fell just 7%. The bad news is that profits for the group are expected to fall 8% this year,
while those for the broad market are seen rebounding 17%. All considered, though, tech companies are indeed exhibiting better
than average economic resistance to the downturn, and smoother year-to-year performance. Perhaps investors should buy tech
shares less in hopes the economy is recovering than as protection in case it isn't.
Note that the aforementioned S&P 500 numbers are dominated by large companies, since the index is weighted according to
stock-market value. Accordingly, beloved members like Apple and Google, shares of which are each up more than 30% this year,
easily decide the appearance of the group. There are still plenty of tech stocks with below-average P/E ratios, and even some with
dividends. Below are six stocks that have both.
---
Tech and Cheap
These six technology stocks still look inexpensive even though the
sector has soared this year.
Company (Ticker) Industry

Price Price Change Forward Yield
YTD P/E
AT&T (T) Telecom

$26.69 -6.35% 12.83 6.14%
CA (CA) Software
17.52 -5.45 10.95 0.91
Hewlett-Packard (HPQ) Computer

37.14 2.34 10.01 0.86
IBM (IBM) Computer

106.19 26.18 11.63 2.07
Microsoft (MSFT) Software

20.19 3.86 11.74 2.58
Oracle (ORCL) Software

18.97 6.99 13.85 0.26
Note: Data as of May 4, 2009.
Source: Hemscott
License this article from Dow Jones Reprint Service
Document J000000020090507e5570002x
Page 39 of 108
2. Sector overview & sorting by stocks and variables: Total Germany Market May 06, 2009
2598 words
06-May-2009
German Company News Bites – Market Report
English
Copyright 2009. News Bites Pty Ltd.
GERMAN COMPANY NEWS BITES
MARKET REPORT
The Total Germany Market was up 2.2 points or 0.7% to 308.99.
The market traded between a low of 304.05 and a high of 311.35.
The market value to 200-day moving average (MA) ratio is 0.56.
In the German market of 9427 stocks, 54 sectors and 40 indices the market has a 6-month relative strength of 4.7 which means it is
trailing 95.3% of the market.
Turnover value of Euro5.1 billion (US$6.8 billion) was 0.8 times the average turnover value of Euro6.4 billion (US$8.5 billion).
Rises outnumbered falls 997 to 471.
There were 997 rises (10.6%) and 471 falls (5%).

There were 7845 (83.1%) stocks untraded and 131 (1.4%) stocks unchanged.
This excludes 17 suspended stocks.
For today's sorting of stocks and variables in the Total Germany Market please click on the link below to sort all stocks in the Total
Germany Market:l Germany Market please click on the link below to sort all stocks in the Total Germany Market: (
http://www.buysellsignals.com/BuySellSignals/com/bst/mkt/sectordynamics.do?market=Germany&code=SEC57&type
=) TODAY'S DYNAMICS OF THE TOTAL GERMANY MARKETARKET
Sector Overview [in descending order of MCap; figures in brackets show price change in %, MCap, and Present Value of Euro1000
invested a year ago]
BP Plc rises on high volatility and expanding price range [0.1%, Euro702.6 billion (US$933 billion)]
Exxon Mobil Corporation increases 2.0% on weak volume [2.0%, Euro262.5 billion (US$348.6 billion), Euro889]
Wal-Mart Stores, Inc. rises 0.6% on below average volume [0.6%, Euro149.8 billion (US$198.9 billion), Euro1,052]
China Mobile rises 3.5% on high volatility and expanding price range [3.5%, Euro147 billion (US$195.2 billion), Euro649]
Glaxosmithkline PLC , despite significant downtrend, declines 2.9% on high volume [-2.9%, Euro132.6 billion (US$176.1 billion),
Euro772]
Microsoft Corporation rises 0.8% on weak volume, ending a three-day streak of losses [0.8%, Euro132.5 billion (US$175.9 billion),
Euro785]
International Business Machines corps drops 1.8% on high volatility [-1.8%, Euro125 billion (US$165.9 billion), Euro1,002]
AT&T Inc dips 0.1%, for a 2-day fall of 0.2%, trailing 63.2% of stocks [-0.1%, Euro116.8 billion (US$155.1 billion), Euro787]
Procter & Gamble Co. increases 2.3% on weak volume [2.3%, Euro113.6 billion (US$150.9 billion), Euro885]
Johnson & Johnson rises 0.9%, rising for a fourth consecutive day, a 4-day rise of 3.3% [0.9%, Euro112.8 billion (US$149.8 billion),
Euro931]
Toyota Motor Corp rises 2.8%, for a 2-day rise of 4.0% on high volatility and expanding price range [2.8%, Euro107.6 billion
(US$142.9 billion), Euro926]
General Electric continues significant uptrend; gains 4.0%, for a 5-day rise of 6.7% [4.0%, Euro107.4 billion (US$142.7 billion),
Euro480]
BP increases 1.8% on below average volume [1.8%, Euro106.9 billion (US$142 billion), Euro730]
China Construction Bank Corp dips 0.8% on firm volume, falling for a second day, a 2-day fall of 7.8% [-0.8%, Euro105.6 billion
JPMorgan Chase & Co. rises 4.2%, for a 2-day rise of 7.2% on high volatility and expanding price range [4.2%, Euro101.6 billion
(US$135 billion), Euro878]
Chevron Corp rises on high volatility and expanding price range [0.7%, Euro100.6 billion (US$133.6 billion), Euro804]
Total increases 2.4% on weak volume [2.4%, Euro95.2 billion (US$126.5 billion), Euro735]
Apple Inc drops on high volatility [-0.4%, Euro87.5 billion (US$116.2 billion), Euro832]
Cisco Systems drops 1.1%, for a 2-day fall of 2.4% on high volatility [-1.1%, Euro84.3 billion (US$111.9 billion), Euro866]
Novartis rises on high volatility and expanding price range [0.7%, Euro76.5 billion (US$101.5 billion), Euro880]
Page 40 of 108
Vodafone Group PLC closes at 3.7% above VWP but at 31.9% discount to 52-week high [0.0%, Euro76.1 billion (US$101 billion),
Euro707]
The Coca-Cola Company drops on high volatility [-0.3%, Euro74.7 billion (US$99.2 billion), Euro861]
HSBC Holdings PLC continues significant uptrend; gains 4.5% on firm volume [4.5%, Euro73.6 billion (US$97.7 billion), Euro546]
Google Inc closes at 4.4% above VWP but at 21.3% discount to 52-week high [1.6%, Euro73.2 billion (US$97.3 billion), Euro810]
Wells Fargo & Company continues significant uptrend; soars 12.4% on firm volume [12.4%, Euro73 billion (US$97 billion), Euro975]
Oracle Corp strengthens above map [1.9%, Euro72.4 billion (US$96.1 billion), Euro1,049]
Telefonica rises 1.6%, for a 3-day rise of 6.1% on high volatility [1.6%, Euro71.2 billion (US$94.6 billion)]
Pfizer Inc drops 2.7% on high volatility [-2.7%, Euro69.9 billion (US$92.8 billion), Euro788]
Volkswagen, despite significant downtrend, dips 0.4%, for a 6-day fall of 2.7% [-0.4%, Euro68.5 billion (US$91 billion), Euro1,246]
Intel corp. strengthens 0.4% on weak volume [0.4%, Euro67.5 billion (US$89.7 billion), Euro812]
BHP Billiton Ltd. adds 3.3%, for a 2-day rise of 10.4%, outperforming 84% of stocks [3.3%, Euro67.5 billion (US$89.6 billion),
Euro723]
BHP Billiton Ltd gains 4.5%, outperforming 81% of stocks [4.5%, Euro67.2 billion (US$89.2 billion), Euro720]
Eni strengthens 0.4% on robust volume [0.4%, Euro67.2 billion (US$89.2 billion)]
Hewlett-Packard Co. dips 0.6%, for a 3-day fall of 2.7%, trailing 59.9% of stocks [-0.6%, Euro65.8 billion (US$87.3 billion), Euro883]
Verizon Communications Inc. strengthens 0.2% on low volume [0.2%, Euro65.2 billion (US$86.6 billion), Euro895]
Electricite de France SA dips 0.3%, for a 2-day fall of 1.1%, trailing 52.7% of stocks [-0.3%, Euro63.8 billion (US$84.7 billion)]
Royal Dutch Shell PLC dips 0.4%, for a 2-day fall of 0.8%, trailing 74.2% of stocks [-0.4%, Euro63.3 billion (US$84 billion), Euro689]
Glaxosmithkline rises 1.1% on average volume, ending a two-day streak of losses [1.1%, Euro60.4 billion (US$80.2 billion),
Euro812]
GdF Suez SA drops 4.6%, for a 2-day fall of 7.0%, trailing 83.3% of stocks [-4.6%, Euro58.7 billion (US$78 billion), Euro631]
PepsiCo increases 1.6% on low volume, ending a two-day streak of losses [1.6%, Euro58.1 billion (US$77.1 billion), Euro846]
Banco Santander SA rises 2.1%, for a 2-day rise of 2.6% on high volatility [2.1%, Euro57.6 billion (US$76.4 billion)]
E.ON (EOAN.DE:Euro25.81) falling 2.0% in weak trading with open interest rising 7.1% [-2.0%, Euro51.6 billion (US$68.6 billion),
Euro204]
Mitsubishi UFJ Financial Group, Inc. surges 8.1% on robust volume, rising for a second day [8.1%, Euro50.7 billion (US$67.3
billion), Euro636]
Schlumberger continues significant uptrend; climbs 5.5% [5.5%, Euro50.3 billion (US$66.7 billion), Euro636]
Abbott Laboratories Inc rises on high volatility and expanding price range [0.5%, Euro49.7 billion (US$66 billion), Euro928]
Conophillips rises 3.1% on high volatility and expanding price range [3.1%, Euro49.6 billion (US$65.9 billion), Euro589]
StatoilHydro ASA strengthens above map [2.1%, Euro48.7 billion (US$64.7 billion), Euro636]
Siemens communications (SIE.DE:Euro52.73) rising 2.1% in strong trading with open interest rising 0.9%, continues strong weekly
and monthly trend [2.1%, Euro48.2 billion (US$64 billion), Euro694]
Bank of America Corporation continues significant uptrend; soars 15.9% on strong volume [15.9%, Euro47.2 billion (US$62.6
billion), Euro375]
The Goldman Sachs Group Inc rises 2.0%, for a 5-day rise of 8.4% on high volatility and expanding price range [2.0%, Euro45.5
billion (US$60.5 billion), Euro801]
McDonald's Corp. rises 1.5% on low volume, rising for a second day, a 2-day rise of 2.1% [1.5%, Euro45.2 billion (US$60.1 billion),
Euro1,045]
Wyeth Ltd strengthens 0.3% on low volume [0.3%, Euro43 billion (US$57.1 billion)]
CNOOC decreases 1.0% on weak volume, ending a three-day streak of rises [-1.0%, Euro42.4 billion (US$56.3 billion), Euro818]
BG Group PLC closes at 3.5% above VWP but at 29.8% discount to 52-week high [0.0%, Euro41.9 billion (US$55.7 billion),
Euro735]
BNP Paribas SA continues significant uptrend; jumps 7.4% [7.4%, Euro41.6 billion (US$55.2 billion), Euro653]
Honda Motor Co Ltd strengthens above map [0.9%, Euro41.3 billion (US$54.8 billion), Euro1,072]
Industrial And Commercial Bank Of China rises 4.1% on high volatility and expanding price range [4.1%, Euro39.6 billion (US$52.6
billion), Euro935]
AstraZeneca PLC increases 1.7% on average volume [1.7%, Euro39.2 billion (US$52 billion), Euro1,011]
Merck & Co. Inc dips 0.6%, trailing 78.4% of stocks [-0.6%, Euro39 billion (US$51.9 billion), Euro741]
BHP Bilition Ltd rises 7.4% on high volatility and expanding price range [7.4%, Euro38.6 billion (US$51.2 billion), Euro711]
British American Tobacco PLC hits a two-month high [5.7%, Euro37.9 billion (US$50.3 billion), Euro783]
Amgen Inc, despite significant downtrend, dips 0.8%, for a 5-day fall of 4.3% [-0.8%, Euro37.6 billion (US$50 billion), Euro1,290]
United Technologies strengthens above map [4.0%, Euro37.6 billion (US$50 billion), Euro833]
Monsanto Co strengthens above map [2.0%, Euro37.3 billion (US$49.6 billion), Euro898]
Occidental Petroleum Corp dips 0.7% on weak volume, ending a three-day streak of rises [-0.7%, Euro36.5 billion (US$48.5 billion),
Euro790]
Deutsche Telekom, despite significant downtrend, dips 1.0%, for a 3-day fall of 9.2% [-1.0%, Euro36.2 billion (US$48.1 billion),
Euro776]
Sap (SAP.DE:Euro28.45) rising 0.8% in strong trading with open interest rising 0.04%, continues strong monthly trend [0.8%,
Euro34.9 billion (US$46.3 billion), Euro902]
Rio Tinto continues significant uptrend; increases 2.2% [2.2%, Euro33.7 billion (US$44.7 billion), Euro417]
Allianz rises 3.0% on high volatility and expanding price range [3.0%, Euro33.5 billion (US$44.4 billion), Euro590]
Research In Motion Ltd continues significant uptrend; gains 4.2% on firm volume [4.2%, Euro33 billion (US$43.8 billion), Euro687]
Canon drops on high volatility [-0.6%, Euro32.8 billion (US$43.6 billion), Euro732]
Page 41 of 108
Credit Suisse strengthens 0.4% on firm volume [0.4%, Euro32.7 billion (US$43.5 billion), Euro831]
UBS AG continues significant uptrend; increases 2.4% [2.4%, Euro31.9 billion (US$42.4 billion), Euro493]
BBVA Bco increases 1.7% on below average volume, rising for a second day, a 2-day rise of 2.7% [1.7%, Euro31.7 billion (US$42.2
billion), Euro569]
Banco Bilbao Vizcaya Argentaria SA decreases 1.9%, trailing 72.9% of stocks [-1.9%, Euro31.3 billion (US$41.6 billion), Euro560]
Tesco PLC closes at 3.3% above VWP but at 28.3% discount to 52-week high [3.1%, Euro31.3 billion (US$41.6 billion), Euro717]
ArcelorMittal SA adds 3.2%, rising for a fourth consecutive day, weekly rise of 21.3% [3.2%, Euro30.6 billion (US$40.6 billion),
Euro352]
3M Company closes at 3.9% above VWP but at 16.6% discount to 52-week high [1.6%, Euro30.5 billion (US$40.5 billion), Euro876]
ArcelorMittal SA gains 3.9%, rising for a fourth consecutive day, weekly rise of 19.7% [3.9%, Euro30.3 billion (US$40.2 billion),
Euro367]
Gilead Sciences Inc, despite significant downtrend, dips 0.6% [-0.6%, Euro30.2 billion (US$40.1 billion), Euro954]
Iberdrola closes at 3.8% above VWP but at 39.9% discount to 52-week high [3.3%, Euro30 billion (US$39.8 billion), Euro630]
Rwe rises on high volatility and expanding price range [0.7%, Euro29.7 billion (US$39.5 billion), Euro741]
Lilly rises 1.3% on firm volume, rising for a second day, a 2-day rise of 3.1% [1.3%, Euro29.5 billion (US$39.2 billion), Euro835]
EnCana Corp hits a one-month high on firm volume [2.9%, Euro29.1 billion (US$38.6 billion), Euro756]
Bayer (BAY.DE:Euro37.85) falling 0.2% in weak trading with open interest rising 0.7% [-0.2%, Euro28.9 billion (US$38.4 billion),
Euro689]
Bristol-Myers Squibb Co decreases 1.3%, trailing 67.0% of stocks [-1.3%, Euro28.9 billion (US$38.4 billion), Euro975]
Banca Intesa AD Beograd declines 2.8%, for a 2-day fall of 8.7%, trailing 78.2% of stocks [-2.8%, Euro28.7 billion (US$38.1 billion),
Euro506]
Nintendo Co. Ltd, despite significant downtrend, dips 0.7%, for a 4-day fall of 2.6% [-0.7%, Euro28.4 billion (US$37.8 billion)]
Schering-Plough Corp dips 1.0% on weak volume [-1.0%, Euro27.8 billion (US$36.9 billion), Euro1,435]
UniCredit S.p.A. continues significant uptrend; advances 6.2% on robust volume [6.2%, Euro27.7 billion (US$36.7 billion), Euro422]
Kraft Foods Inc. decreases 1.8%, trailing 74.8% of stocks [-1.8%, Euro27.7 billion (US$36.7 billion), Euro916]
Daimler rises on high volatility and expanding price range [0.8%, Euro27.2 billion (US$36.1 billion), Euro559]
Barclays PLC drops 4.4% on firm volume, ending a four-day streak of rises [-4.4%, Euro27 billion (US$35.9 billion), Euro538]
Panasonic Corp dips 0.9%, trailing 71.9% of stocks [-0.9%, Euro27 billion (US$35.8 billion), Euro710]
BASF strengthens above map [0.8%, Euro27 billion (US$35.8 billion), Euro342]
Medtronic Inc falls 3.3%, trailing 80.0% of stocks [-3.3%, Euro26.9 billion (US$35.7 billion), Euro765]
Enel hits a two-month high [1.6%, Euro26.7 billion (US$35.5 billion), Euro608]
Amazon.Com Inc adds 2.8%, for a 2-day rise of 3.5%, outperforming 90% of stocks [2.8%, Euro26.7 billion (US$35.5 billion),
Euro1,282]
Altria Group, Inc increases 2.4% on average volume, rising for a second day, a 2-day rise of 3.8% [2.4%, Euro26.1 billion (US$34.7
billion)]
Hennes & Mauritz hits year-high 6th time in three months [2.7%, Euro25.8 billion (US$34.2 billion)]
Comcast declines 2.6%, trailing 66.7% of stocks [-2.6%, Euro25.1 billion (US$33.3 billion), Euro884]
Alpha
Price Change
Descending MCap
Volume Index [1=av]
% Discount to 52- Week High
% Premium to 52-Week Low
Ascending P/E
Descending Yield
Descending PV$1000(1 Yr)
Descending Rel Str 6 m percentile
Source:
www.BuySellSignals.com
Document NBGEMR0020090507e5560003f
3. Sector overview & sorting by stocks and variables: DAX index May 06, 2009
2628 words
06-May-2009
German Company News Bites – Market
Page 42 of 108
Report
English
MARKET REPORT
The DAX index was up 27.7 points or 0.6% to 4,880.71.
Market Capitalisation of the DAX index (MCap) rose by Euro3.1 billion (US$4.2 billion) or 0.6% to Euro547.1 billion (US$726.6
billion).
The index traded between a low of 4,827.88 and a high of 4,945.54.
The index value to 200-day moving average (MA) ratio is 0.98.
In the German market of 9427 stocks, 54 sectors and 40 indices the index has a 6-month relative strength of 41 indicating it has
underperformed 59% of the market.
Turnover value of Euro4.2 billion (US$5.5 billion) was 1.6 times the average turnover value of Euro2.6 billion (US$3.5 billion).
Rises outnumbered falls 19 to 12.
There were 19 rises (57.6%) and 12 falls (36.4%).
There was 1 (3%) stock unchanged and 1 (3%) stock untraded.

This excludes 17 suspended stocks.
For today's sorting of stocks and variables in the DAX index please click on the link below to sort all stocks in the DAX index:
stocks.
For today's sorting of stocks and variables in the DAX index please click on the link below to sort all stocks in the DAX index: (
http://www.buysellsignals.com/BuySellSignals/com/bst/mkt/sectordynamics.do?market=Germany&code=DE0008469008&type
=) TODAY'S DYNAMICS OF THE DAX INDEXINDEX
Sector Overview [in descending order of MCap; figures in brackets show price change in %, MCap, and Present Value of Euro1000
invested a year ago]
BP Plc rises on high volatility and expanding price range [0.1%, Euro702.6 billion (US$933 billion)]
Exxon Mobil Corporation increases 2.0% on weak volume [2.0%, Euro262.5 billion (US$348.6 billion), Euro889]
Wal-Mart Stores, Inc. rises 0.6% on below average volume [0.6%, Euro149.8 billion (US$198.9 billion), Euro1,052]
China Mobile rises 3.5% on high volatility and expanding price range [3.5%, Euro147 billion (US$195.2 billion), Euro649]
Glaxosmithkline PLC , despite significant downtrend, declines 2.9% on high volume [-2.9%, Euro132.6 billion (US$176.1 billion),
Euro772]
Microsoft Corporation rises 0.8% on weak volume, ending a three-day streak of losses [0.8%, Euro132.5 billion (US$175.9 billion),
Euro785]
International Business Machines corps drops 1.8% on high volatility [-1.8%, Euro125 billion (US$165.9 billion), Euro1,002]
AT&T Inc dips 0.1%, for a 2-day fall of 0.2%, trailing 63.2% of stocks [-0.1%, Euro116.8 billion (US$155.1 billion), Euro787]
Procter & Gamble Co. increases 2.3% on weak volume [2.3%, Euro113.6 billion (US$150.9 billion), Euro885]
Johnson & Johnson rises 0.9%, rising for a fourth consecutive day, a 4-day rise of 3.3% [0.9%, Euro112.8 billion (US$149.8 billion),
Euro931]
Toyota Motor Corp rises 2.8%, for a 2-day rise of 4.0% on high volatility and expanding price range [2.8%, Euro107.6 billion
General Electric continues significant uptrend; gains 4.0%, for a 5-day rise of 6.7% [4.0%, Euro107.4 billion (US$142.7 billion),
Euro480]
BP increases 1.8% on below average volume [1.8%, Euro106.9 billion (US$142 billion), Euro730]
China Construction Bank Corp dips 0.8% on firm volume, falling for a second day, a 2-day fall of 7.8% [-0.8%, Euro105.6 billion
JPMorgan Chase & Co. rises 4.2%, for a 2-day rise of 7.2% on high volatility and expanding price range [4.2%, Euro101.6 billion
(US$135 billion), Euro878]
Chevron Corp rises on high volatility and expanding price range [0.7%, Euro100.6 billion (US$133.6 billion), Euro804]
Total increases 2.4% on weak volume [2.4%, Euro95.2 billion (US$126.5 billion), Euro735]
Apple Inc drops on high volatility [-0.4%, Euro87.5 billion (US$116.2 billion), Euro832]
Cisco Systems drops 1.1%, for a 2-day fall of 2.4% on high volatility [-1.1%, Euro84.3 billion (US$111.9 billion), Euro866]
Novartis rises on high volatility and expanding price range [0.7%, Euro76.5 billion (US$101.5 billion), Euro880]
Vodafone Group PLC closes at 3.7% above VWP but at 31.9% discount to 52-week high [0.0%, Euro76.1 billion (US$101 billion),
Page 43 of 108
Euro707]
The Coca-Cola Company drops on high volatility [-0.3%, Euro74.7 billion (US$99.2 billion), Euro861]
HSBC Holdings PLC continues significant uptrend; gains 4.5% on firm volume [4.5%, Euro73.6 billion (US$97.7 billion), Euro546]
Google Inc closes at 4.4% above VWP but at 21.3% discount to 52-week high [1.6%, Euro73.2 billion (US$97.3 billion), Euro810]
Wells Fargo & Company continues significant uptrend; soars 12.4% on firm volume [12.4%, Euro73 billion (US$97 billion), Euro975]
Oracle Corp strengthens above map [1.9%, Euro72.4 billion (US$96.1 billion), Euro1,049]
Telefonica rises 1.6%, for a 3-day rise of 6.1% on high volatility [1.6%, Euro71.2 billion (US$94.6 billion)]
Pfizer Inc drops 2.7% on high volatility [-2.7%, Euro69.9 billion (US$92.8 billion), Euro788]
Volkswagen, despite significant downtrend, dips 0.4%, for a 6-day fall of 2.7% [-0.4%, Euro68.5 billion (US$91 billion), Euro1,246]
Intel corp. strengthens 0.4% on weak volume [0.4%, Euro67.5 billion (US$89.7 billion), Euro812]
BHP Billiton Ltd. adds 3.3%, for a 2-day rise of 10.4%, outperforming 84% of stocks [3.3%, Euro67.5 billion (US$89.6 billion),
Euro723]
BHP Billiton Ltd gains 4.5%, outperforming 81% of stocks [4.5%, Euro67.2 billion (US$89.2 billion), Euro720]
Eni strengthens 0.4% on robust volume [0.4%, Euro67.2 billion (US$89.2 billion)]
Hewlett-Packard Co. dips 0.6%, for a 3-day fall of 2.7%, trailing 59.9% of stocks [-0.6%, Euro65.8 billion (US$87.3 billion), Euro883]
Verizon Communications Inc. strengthens 0.2% on low volume [0.2%, Euro65.2 billion (US$86.6 billion), Euro895]
Electricite de France SA dips 0.3%, for a 2-day fall of 1.1%, trailing 52.7% of stocks [-0.3%, Euro63.8 billion (US$84.7 billion)]
Royal Dutch Shell PLC dips 0.4%, for a 2-day fall of 0.8%, trailing 74.2% of stocks [-0.4%, Euro63.3 billion (US$84 billion), Euro689]
Glaxosmithkline rises 1.1% on average volume, ending a two-day streak of losses [1.1%, Euro60.4 billion (US$80.2 billion),
Euro812]
GdF Suez SA drops 4.6%, for a 2-day fall of 7.0%, trailing 83.3% of stocks [-4.6%, Euro58.7 billion (US$78 billion), Euro631]
PepsiCo increases 1.6% on low volume, ending a two-day streak of losses [1.6%, Euro58.1 billion (US$77.1 billion), Euro846]
Banco Santander SA rises 2.1%, for a 2-day rise of 2.6% on high volatility [2.1%, Euro57.6 billion (US$76.4 billion)]
E.ON (EOAN.DE:Euro25.81) falling 2.0% in weak trading with open interest rising 7.1% [-2.0%, Euro51.6 billion (US$68.6 billion),
Euro204]
Mitsubishi UFJ Financial Group, Inc. surges 8.1% on robust volume, rising for a second day [8.1%, Euro50.7 billion (US$67.3
billion), Euro636]
Schlumberger continues significant uptrend; climbs 5.5% [5.5%, Euro50.3 billion (US$66.7 billion), Euro636]
Abbott Laboratories Inc rises on high volatility and expanding price range [0.5%, Euro49.7 billion (US$66 billion), Euro928]
Conophillips rises 3.1% on high volatility and expanding price range [3.1%, Euro49.6 billion (US$65.9 billion), Euro589]
StatoilHydro ASA strengthens above map [2.1%, Euro48.7 billion (US$64.7 billion), Euro636]
Siemens communications (SIE.DE:Euro52.73) rising 2.1% in strong trading with open interest rising 0.9%, continues strong weekly
and monthly trend [2.1%, Euro48.2 billion (US$64 billion), Euro694]
Bank of America Corporation continues significant uptrend; soars 15.9% on strong volume [15.9%, Euro47.2 billion (US$62.6
billion), Euro375]
The Goldman Sachs Group Inc rises 2.0%, for a 5-day rise of 8.4% on high volatility and expanding price range [2.0%, Euro45.5
billion (US$60.5 billion), Euro801]
McDonald's Corp. rises 1.5% on low volume, rising for a second day, a 2-day rise of 2.1% [1.5%, Euro45.2 billion (US$60.1 billion),
Euro1,045]
Wyeth Ltd strengthens 0.3% on low volume [0.3%, Euro43 billion (US$57.1 billion)]
CNOOC decreases 1.0% on weak volume, ending a three-day streak of rises [-1.0%, Euro42.4 billion (US$56.3 billion), Euro818]
BG Group PLC closes at 3.5% above VWP but at 29.8% discount to 52-week high [0.0%, Euro41.9 billion (US$55.7 billion),
Euro735]
BNP Paribas SA continues significant uptrend; jumps 7.4% [7.4%, Euro41.6 billion (US$55.2 billion), Euro653]
Honda Motor Co Ltd strengthens above map [0.9%, Euro41.3 billion (US$54.8 billion), Euro1,072]
Industrial And Commercial Bank Of China rises 4.1% on high volatility and expanding price range [4.1%, Euro39.6 billion (US$52.6
billion), Euro935]
AstraZeneca PLC increases 1.7% on average volume [1.7%, Euro39.2 billion (US$52 billion), Euro1,011]
Merck & Co. Inc dips 0.6%, trailing 78.4% of stocks [-0.6%, Euro39 billion (US$51.9 billion), Euro741]
BHP Bilition Ltd rises 7.4% on high volatility and expanding price range [7.4%, Euro38.6 billion (US$51.2 billion), Euro711]
British American Tobacco PLC hits a two-month high [5.7%, Euro37.9 billion (US$50.3 billion), Euro783]
Amgen Inc, despite significant downtrend, dips 0.8%, for a 5-day fall of 4.3% [-0.8%, Euro37.6 billion (US$50 billion), Euro1,290]
United Technologies strengthens above map [4.0%, Euro37.6 billion (US$50 billion), Euro833]
Monsanto Co strengthens above map [2.0%, Euro37.3 billion (US$49.6 billion), Euro898]
Occidental Petroleum Corp dips 0.7% on weak volume, ending a three-day streak of rises [-0.7%, Euro36.5 billion (US$48.5 billion),
Euro790]
Deutsche Telekom, despite significant downtrend, dips 1.0%, for a 3-day fall of 9.2% [-1.0%, Euro36.2 billion (US$48.1 billion),
Euro776]
Sap (SAP.DE:Euro28.45) rising 0.8% in strong trading with open interest rising 0.04%, continues strong monthly trend [0.8%,
Euro34.9 billion (US$46.3 billion), Euro902]
Rio Tinto continues significant uptrend; increases 2.2% [2.2%, Euro33.7 billion (US$44.7 billion), Euro417]
Allianz rises 3.0% on high volatility and expanding price range [3.0%, Euro33.5 billion (US$44.4 billion), Euro590]
Research In Motion Ltd continues significant uptrend; gains 4.2% on firm volume [4.2%, Euro33 billion (US$43.8 billion), Euro687]
Canon drops on high volatility [-0.6%, Euro32.8 billion (US$43.6 billion), Euro732]
Credit Suisse strengthens 0.4% on firm volume [0.4%, Euro32.7 billion (US$43.5 billion), Euro831]
Page 44 of 108
UBS AG continues significant uptrend; increases 2.4% [2.4%, Euro31.9 billion (US$42.4 billion), Euro493]
BBVA Bco increases 1.7% on below average volume, rising for a second day, a 2-day rise of 2.7% [1.7%, Euro31.7 billion (US$42.2
billion), Euro569]
Banco Bilbao Vizcaya Argentaria SA decreases 1.9%, trailing 72.9% of stocks [-1.9%, Euro31.3 billion (US$41.6 billion), Euro560]
Tesco PLC closes at 3.3% above VWP but at 28.3% discount to 52-week high [3.1%, Euro31.3 billion (US$41.6 billion), Euro717]
ArcelorMittal SA adds 3.2%, rising for a fourth consecutive day, weekly rise of 21.3% [3.2%, Euro30.6 billion (US$40.6 billion),
Euro352]
3M Company closes at 3.9% above VWP but at 16.6% discount to 52-week high [1.6%, Euro30.5 billion (US$40.5 billion), Euro876]
ArcelorMittal SA gains 3.9%, rising for a fourth consecutive day, weekly rise of 19.7% [3.9%, Euro30.3 billion (US$40.2 billion),
Euro367]
Gilead Sciences Inc, despite significant downtrend, dips 0.6% [-0.6%, Euro30.2 billion (US$40.1 billion), Euro954]
Iberdrola closes at 3.8% above VWP but at 39.9% discount to 52-week high [3.3%, Euro30 billion (US$39.8 billion), Euro630]
Rwe rises on high volatility and expanding price range [0.7%, Euro29.7 billion (US$39.5 billion), Euro741]
Lilly rises 1.3% on firm volume, rising for a second day, a 2-day rise of 3.1% [1.3%, Euro29.5 billion (US$39.2 billion), Euro835]
EnCana Corp hits a one-month high on firm volume [2.9%, Euro29.1 billion (US$38.6 billion), Euro756]
Bayer (BAY.DE:Euro37.85) falling 0.2% in weak trading with open interest rising 0.7% [-0.2%, Euro28.9 billion (US$38.4 billion),
Euro689]
Bristol-Myers Squibb Co decreases 1.3%, trailing 67.0% of stocks [-1.3%, Euro28.9 billion (US$38.4 billion), Euro975]
Banca Intesa AD Beograd declines 2.8%, for a 2-day fall of 8.7%, trailing 78.2% of stocks [-2.8%, Euro28.7 billion (US$38.1 billion),
Euro506]
Nintendo Co. Ltd, despite significant downtrend, dips 0.7%, for a 4-day fall of 2.6% [-0.7%, Euro28.4 billion (US$37.8 billion)]
Schering-Plough Corp dips 1.0% on weak volume [-1.0%, Euro27.8 billion (US$36.9 billion), Euro1,435]
UniCredit S.p.A. continues significant uptrend; advances 6.2% on robust volume [6.2%, Euro27.7 billion (US$36.7 billion), Euro422]
Kraft Foods Inc. decreases 1.8%, trailing 74.8% of stocks [-1.8%, Euro27.7 billion (US$36.7 billion), Euro916]
Daimler rises on high volatility and expanding price range [0.8%, Euro27.2 billion (US$36.1 billion), Euro559]
Barclays PLC drops 4.4% on firm volume, ending a four-day streak of rises [-4.4%, Euro27 billion (US$35.9 billion), Euro538]
Panasonic Corp dips 0.9%, trailing 71.9% of stocks [-0.9%, Euro27 billion (US$35.8 billion), Euro710]
BASF strengthens above map [0.8%, Euro27 billion (US$35.8 billion), Euro342]
Medtronic Inc falls 3.3%, trailing 80.0% of stocks [-3.3%, Euro26.9 billion (US$35.7 billion), Euro765]
Enel hits a two-month high [1.6%, Euro26.7 billion (US$35.5 billion), Euro608]
Amazon.Com Inc adds 2.8%, for a 2-day rise of 3.5%, outperforming 90% of stocks [2.8%, Euro26.7 billion (US$35.5 billion),
Euro1,282]
Altria Group, Inc increases 2.4% on average volume, rising for a second day, a 2-day rise of 3.8% [2.4%, Euro26.1 billion (US$34.7
billion)]
Hennes & Mauritz hits year-high 6th time in three months [2.7%, Euro25.8 billion (US$34.2 billion)]
Comcast declines 2.6%, trailing 66.7% of stocks [-2.6%, Euro25.1 billion (US$33.3 billion), Euro884]
Alpha
Price Change
Descending MCap
Volume Index [1=av]
% Discount to 52- Week High
% Premium to 52-Week Low
Ascending P/E
Descending Yield
Descending PV$1000(1 Yr)
Descending Rel Str 6 m percentile
Source:
Document NBGEMR0020090507e5560003e
4. Telegate rises on high volatility
1966 words
06-May-2009
German Company News Bites – Stock Report
Page 45 of 108
English
STOCK REPORT
Telegate (TGT.DE), Germany's 8th largest business/consumer services company by market capitalisation, traded between an
intraday low of Euro8.37 and a high of Euro8.56. Today its volatility (highest price minus lowest price/lowest price) of 2.3% was 0.6
times the average daily volatility of 3.7%, up from 2.2% on Tuesday and 2.1% on Monday. The stock price strengthened 2.0
Eurocents (or 0.2%) to close at Euro8.37. Compared with the DAX index, which rose 27.7 points (or 0.6%) on the day, this was a
relative price change of -0.3%.
Price Change % 1-day 1-month 1-year

TGT 0.2% 4.4% -29.7%
Business Services 1% 6.4% -64.9%
DAX Index 0.6% 12.2% -30.4%
PRICE DYNAMICS
Moving average price (MAP): the price to 200-day MAP ratio is 1.03. In the past 200 days this ratio has been under 1.03 189 times
suggesting further downside. The 50-day MAP of Euro7.58 is lower than the 200-day MAP of Euro8.13, a bearish indicator. The
200-day MAP has decreased to Euro8.13. A decrease is another bearish indicator.
Relativities: today its percentile rank in the German market was 42. In the German market of 1,599 stocks traded today, the stock
has a 6-month relative strength of 69 which means it has outperformed 69% of the market.
% Discount to high: it closed at a discount of 37.9% to the 12-month high of Euro13.48 a year ago on 19 May, 2008.
% Premium to low: it closed at a premium of 39.5% to the 12-month low of Euro6.0 four months ago on 30 Dec, 2008.
Volume weighted price (VWP): the price is about the same as its 1-month volume weighted average price of Euro8.43.
AGGREGATE VOLUMES AND TURNOVER PERIOD
[Volume Index or VI in brackets; 1 is average]
XETRA: TGT.DE 5,585 [VI of 0.7]; volume 76.6% of aggregate.
Munich: TGT.MU 710 [VI of 14.3]; volume 9.7% of aggregate.
Stuttgart: TGT.SG 680 [VI of 8.0]; volume 9.3% of aggregate.
Frankfurt: TGT.F 200 [VI of 0.7]; volume 2.7% of aggregate.
Dusseldorf: TGT.DU 120 [VI of 0.4]; volume 1.6% of aggregate. Aggregate volume: there were 7,295 shares worth Euro61,229
(US$81,312.1) traded. The aggregate volume was 0.9 times average trading of 8,295 shares.
Access current Stock Research on (
http://www.buysellsignals.com/BuySellSignals/com/bst/mkt/stockResearch/stockResearch.do?market=Germany&companyid=957&
dt=2009-05-06&headline=TELEGATE
RISES ON HIGH VOLATILITY) TGT (
dt=2009-05-06&headline=TELEGATE
RISES ON HIGH VOLATILITY) for: charts and tables, Daily Stock PDF, Weekly Stock Report, Internet Tracker (including Reported
Buying & Selling, Company website, Announcements etc) and Results
PRICE PERFORMANCE RANK IN INDICES AND SECTORS
The stock is in 6 indices and 3 sectors.
The following index and sectors rose setting the trend for its rise of 0.2% (rank by percentage price change of stock for 1 day;6
months in sector/index in brackets):
Business/Consumer Services sector (rank 42;20 out of 318), which was up 17.8 points or 1.0% to 1,779.5,
Total Germany Market (rank 976;489 out of 9427), which was up 2.2 points or 0.7% to 309.0,
CDAX (Kursindex) index (rank 244;115 out of 624), which was up 1.7 points or 0.6% to 265.
Percentile Rank 1-day 1-month
Page 46 of 108
6-months
TGT 42 32 69
Business Services 48 35 6
DAX Index 43 49 41
RELATIVE VALUATION INDICATORS [RVI]
Telegate vs Business/Consumer Services sector [Business/Consumer Services sector average in Brackets]
Better than sector average: Return on Equity of 38.8% [23.1%], rank 3 out of 76 Business/Consumer Services stocks; Return on
Assets of 22.0% [5.7%], rank 3 out of 78; Year-on-year growth in EPS of 451.7% [0.6%], rank 2 out of 20; Yield of 8.4% [8.1%]; rank
3 out of 12 Business/Consumer Services stocks with dividends.
Worse than sector average: P/E of 5.2 [2.8], rank 6 out of 25 Business/Consumer Services stocks.
RVI TGT Business/Consumer Services sector

Return on Equity 38.8% 23.1%
Return on Assets 22.0% 5.7%
EPS Growth YOY 451.7% 0.6%
P/E 5.2x 2.8x
SHAREHOLDER RETURNS
Trailing one week: the stock fell three times (60% of the time) and rose twice (40% of the time). The aggregate volume was 1.1
times average trading of 41,475 shares. The value of Euro1,000 invested a week ago is Euro1,021 [vs Euro1,041 for the DAX
index], for a capital gain of Euro21(or rise of 2.1%).
Trailing one month: the stock rose nine times (47% of the time), fell eight times (42% of the time) and was unchanged twice (11% of
the time). The aggregate volume was 1.1 times average trading of 167,282 shares. The value of Euro1,000 invested a month ago is
Euro1,044 [vs Euro1,126 for the DAX index], for a capital gain of Euro44(or rise of 4.4%).
Trailing one year: the value of Euro1,000 invested one year ago is today Euro749 [vs Euro705 for the DAX index], including a
capital loss of Euro297 and dividend reinvested of Euro46. The total year return to shareholders is -25.1%.
PVEuro1000 1-month 1-year

TGT Euro1,044 Euro749
Business Services Euro1,064 Euro352
DAX Index Euro1,126 Euro705
FINANCIALS
Quarterly Report; year-on-year comparisons with previous corresponding period:
In the quarter to September 30, 2008 total revenue was up 6.5% to Euro46.8 million (US$62.2 million); net profit slumped 55.9% to
Euro4.3 million (US$5.7 million); EPS slumped 44.4% to 20.0 Eurocents.
Annual Report for the year ended December 31, 2007 (year-on-year comparisons with previous corresponding period)-
Trailing 12 months dividend of EUR0.6 (US95.7c).
Favourable Changes: net profit growth 461.82% to EUR33.6m ($US49.5m); EPS growth 451.72% to EUR1.6 ($US2.36); interest
cover up 31.78% to 212.0; a track record of profits in 3 of the last 3 years; total liabilities to total assets down 13.98% to 0.4; current
ratio up 32.43% to 1.9; Net tangible assets per share up 50.4% to EUR3.4 ($US5.0).
Unfavourable Changes: total revenue down 3.16% to EUR173.3m ($US255.0m); total liabilities to operating cash flow recovery to
1.1: this compares favourably with the Joseph Piotroski benchmark of <4; total number of shares outstanding up 1.18% to
21,234,545.
Major Common Size Ratios: total current assets to total assets up from 71.5% to 81.13%; cash to total assets up from 14.83% to
43.78%; current debtors to total assets down from 49.62% to 32.52%; total non current assets to total assets down from 28.5% to
18.87%; intangibles to total assets down from 11.78% to 9.15%; cost of goods sold to revenues down from 47.84% to 40.25%;
EBITD to Revenues up from 10.05% to 29.43%; EBIT to Revenues up from 6.3% to 24.84%; profit before tax to revenues up from
6.26% to 24.73%; profit after tax to revenues up from 3.34% to 19.4%.
FUNDAMENTALS
Earnings: the earnings yield of 19.1% is 5.1 times the 10-year bond yield of 3.7%.
P/S: the price/sales ratio is 1.0.
Price to cash: the price to cash backing per share is 2.4.
Dividend yield: the company paid a dividend of 70.0 Eurocents in the last 12 months. The dividend yield is 8.4%. (rank 34 out of
Page 47 of 108
158).
Investment return: the nominal investment return, defined by the sum of 8.4% yield and 451.7% earnings growth, is 460.1%. After
allowing for inflation of 1.7% the real investment return is 458.4%. The nominal investment return divided by the average P/E is a
multiple of 88.0, which compares favourably with the benchmark of 2.
Valuation TGT Business Services

P/E 5.2x 0.5x
P/E/G 0.01x
P/S 1.0x 0.7x
Size TGT Rank in Business Services

MCAP (Euro) 177.7 million 30
Assets (Euro) 152.5 million 37
Revenue (Euro) 173.3 million 34
Performance TGT Business Services

ROA 22.0% 5.7%
ROE 38.8% 23.1%
Yield 8.4% 8.1%
EPS Growth YOY 451.7% 0.6%
ISSUED CAPITAL
Based on 21,234,545 issued shares the market capitalisation is Euro177.7 million (US$236 million). It is Germany's 172nd largest
Business/Consumer Services company by assets.
ACTIVITIES
telegate AG is a provider of directory assistance and call centre services in Europe. In Germany, the Company offers telephone
directory enquiries and information services via the telephone number 11880, which is available from both the fixed network and
from all German mobile telephone networks. The 11880 number provides information such as area codes, telephone numbers,
service numbers, mobile phone numbers, postcodes and addresses, and other important information, including weather, traffic
news, location of hotels and booking facilities, details of emergency doctors and locations of pharmacies.
TOP MANAGEMENT
The chairman is Herbert Brenke.
REPORTED BUYING
Reported Buying:
March 18, 2008: TELEGATE AG DIRECTOR BUYS
Telegate Ag (TGT) director Ralf Grusshaber bought 1,500 shares worth Euro14,610 on March 18, 2008. The last price was
Euro9.74.
January 14, 2008: TELEGATE AG DIRECTOR BUYS
Telegate Ag (TGT) director Ralf Grusshaber bought 1,000 shares worth Euro12,960 on January 10, 2008. The last price was
Euro12.96.
January 11, 2008: TELEGATE AG DIRECTOR BUYS
Telegate Ag (TGT) director Andreas Albath bought 1,000 shares worth Euro12,930 on January 10, 2008. The last price was
Euro12.93.
BUSINESS NEWS ROUND UP
The last 3 snippets are:
September 23: TELEGATE AG AGAIN UPGRADES EARNINGS FORECAST FOR FISCAL YEAR 2008
Telegate is predicting earnings before interest, taxes, depreciation and amortization (EBITDA) of 35-40 million Euro for fiscal year
2008. Once again the specialist for Local Search is upgrading its earnings forecasts thanks to positive business trend over the first
months of the annual year and optimistic prospects for the coming months.
July 21: TELEGATE IN SALES ALLIANCE WITH GOOGLE
Telegate, the local search specialist, will now be an authorized reseller of the Google advertising program AdWords and will now be
marketing keyword advertising within the Google network in addition to the industry listings in the multichannel directories of 11 88 0
and klickTel.
February 19, 2008: TELEGATE ACQUIRES MAJORITY STAKE IN KLICKTEL
Telegate has acquired a 78.6% stake in klickTel AG from a group of the latters shareholders for 25 million Euro, subject to approval
of the regulatory authorities. KlickTel, which has annual sales of 20 million Euro, provides cross-media telephone and industry
Page 48 of 108
directories, directory assistance specific software and licences to both private and commercial users.
Currency Conversion: Euro 1 = US$ 1.328 [or US$1=Euro 0.75]; Against the US$ the Euro fell 65.09 basis points (or 0.7%) for the
day; strengthened 0.2% for the week; strengthened 0.1% for the month; slumped 10.0% in the past year. Euro 1 = 100 Eurocents.
Source:
Document NBGESR0020090507e556000eh
5. Computerlinks unchanged on thin volume
1371 words
06-May-2009
German Company News Bites – Stock Report
English
STOCK REPORT
Computerlinks (CPX.DE), Germany's 8th largest internet/online services company by market capitalisation, closed unchanged at
Euro20.0. Compared with the DAX index, which rose 27.7 points (or 0.6%) on the day, this was a relative price change of -0.6%.
The aggregate volume was 0.7 times average trading of 18,769 shares.
Price Change % 1-day 1-month 1-year
CPX Unchanged -2.6% 64.6%
Internet Services 1.1% 15.3% -66.1%
DAX Index 0.6% 12.2% -30.4%
PRICE DYNAMICS
Volatility: the stock traded between an intraday low of Euro19.30 and a high of Euro20.0, suggesting a trading opportunity between
peaks and troughs.
Moving average price (MAP): the price to 200-day MAP ratio is 1.1, a bullish indicator. In the past 200 days this ratio has exceeded
1.1 163 times suggesting further upside. The 50-day MAP of Euro19.49 is higher than the 200-day MAP of Euro18.23, a bullish
indicator. The 200-day MAP has increased to Euro18.23. An increase is another bullish indicator.
Relativities: today its percentile rank in the German market was 32. In the German market of 1,599 stocks traded today, the stock
has a 6-month relative strength of 61 which means it has outperformed 61% of the market.
% Discount to high: it closed at a discount of 4.8% to the 12-month high of Euro21.0 one month ago on 03 Apr, 2009.
Volume weighted price (VWP): the price is equal to its 1-month volume weighted average price (VWP) of Euro19.99.
AGGREGATE VOLUMES AND TURNOVER PERIOD
[Volume Index or VI in brackets; 1 is average]
XETRA: CPX.DE 12,287 [VI of 0.7]; volume 99.5% of aggregate.
Frankfurt: CPX.F 60 [VI of 0.1]; volume 0.5% of aggregate. Aggregate volume: there were 12,347 shares worth Euro246,922
(US$327,912.4) traded.
Access current Stock Research on (
dt=2009-05-06&headline=COMPUTERLINKS
UNCHANGED ON THIN VOLUME) CPX (
dt=2009-05-06&headline=COMPUTERLINKS
UNCHANGED ON THIN VOLUME) for: charts and tables, Daily Stock PDF, Weekly Stock Report, Internet Tracker (including
Reported Buying & Selling, Company website, Announcements etc) and Results
PRICE PERFORMANCE RANK IN INDICES AND SECTORS
The stock is in 6 indices and 2 sectors.
Page 49 of 108
The following index and sectors rose (rank by percentage price change of stock for 1 day;6 months in sector/index in brackets):
Internet/Online Services sector (rank 24;16 out of 150), which was up 14.3 points or 1.1% to 1,327.4,
Total Germany Market (rank 998;629 out of 9427), which was up 2.2 points or 0.7% to 309.0,
CDAX (Kursindex) index (rank 253;170 out of 624), which was up 1.7 points or 0.6% to 265.
Percentile Rank 1-day 1-month 6-months

CPX 32 12 61
Internet Services 49 55 7
DAX Index 43 49 41
RELATIVE VALUATION INDICATORS [RVI]
Computerlinks vs Internet/Online Services sector [Internet/Online Services sector average in Brackets]
Worse than sector average: Yield of 2.0% [2.9%]; rank 5 out of 5 Internet/Online Services stocks with dividends.
RVI Internet/Online Services sector

Return on Equity 35.0%
Return on Assets 12.1%
EPS Growth YOY 0.6%
P/E 2.6x
SHAREHOLDER RETURNS
Trailing one week: the stock fell three times (60% of the time), was unchanged once (20% of the time) and rose once (20% of the
time). The aggregate volume was 0.3 times average trading of 93,845 shares. The value of Euro1,000 invested a week ago is
Euro1,015 [vs Euro1,041 for the DAX index], for a capital gain of Euro15(or rise of 1.5%).
Trailing one month: the stock fell nine times (47% of the time), was untraded five times (26% of the time), rose four times (21% of
the time) and was unchanged once (5% of the time). The aggregate volume was 0.1 times average trading of 378,508 shares. The
value of Euro1,000 invested a month ago is Euro974 [vs Euro1,126 for the DAX index], for a capital loss of Euro26(or loss of 2.6%).
Trailing one year: the value of Euro1,000 invested one year ago is today Euro1,702 [vs Euro705 for the DAX index], including a
capital gain of Euro646 and dividend reinvested of Euro56. The total year return to shareholders is 70.2%.
PVEuro1000 1-month 1-year

CPX Euro974 Euro1,702
Internet Services Euro1,153 Euro339
DAX Index Euro1,126 Euro705
FUNDAMENTALS
Dividend yield: the company paid a dividend of 39.0 Eurocents in the last 12 months. The dividend yield is 2.0%. (rank 144 out of
158).
Valuation CPX Internet Services

P/E 0.4x
P/S 1.0x
Size CPX Rank in Internet Services

MCAP (Euro) 144.1 million 18
Assets (Euro) 14
Revenue (Euro) 11
Performance CPX Internet Services

ROA 12.1%
ROE 35.0%
Yield 2.0% 2.9%
EPS Growth YOY 0.6%
ISSUED CAPITAL
Based on 7,205,919 issued shares the market capitalisation is Euro144.1 million (US$191.4 million). It is Germany's 14th largest
Internet/Online Services company by assets.
ACTIVITIES
COMPUTERLINKS AG is a wholesaler to the information technology (IT) retail sector, providing products in the areas of e-business
Page 50 of 108
and e-security. In addition to the sale of hardware, software and software updates, it offers a range of consultancy, marketing
support, practical IT training, logistics solutions and technical support services for retailers so as to improve upon their own product
offerings.
TOP MANAGEMENT
The chief financial officer is Dipl.-Volkswirt Frank Losem and the chairman is David Kleeman.
REPORTED BUYING AND SELLING
Reported Buying:
January 02, 2008: COMPUTERLINKS AG DIRECTOR BUYS

Computerlinks Ag (CPX) director Frank Losem bought 10,000 shares worth Euro128,000 on August 16, 2007. The last price was
Euro12.80.
Reported Selling:
January 02, 2008: COMPUTERLINKS AG DIRECTOR SELLS

Computerlinks Ag (CPX) director Mark Norman sold 180,000 shares worth Euro2,189,412 on December 17, 2007. The last price
was Euro12.16.
BUSINESS NEWS ROUND UP
The last 4 snippets are:
April 14: Computerlinks UK sales increase

Computerlinks informs that it saw full-year UK and Ireland sales bounce 9.6 per cent to EUR 159.3m (144.3m Pound). Dave Ellis,
e-security director at Company, said UK end users are still increasing security spending to meet corporate governance guidelines
and improve efficiency.
January 19: Computerlinks signs agreement with Google Enterprise
Computerlinks announced it has signed an agreement to distribute Google Enterprise' software as a service (SaaS) security
offerings in the UK, Austria, Denmark, France, Germany, Hungary, Ireland, Italy and Switzerland. Company's resellers will be
introduced to Google Apps security offerings through a series of webinars, event and other launch initiatives.
December 22: Check Point Signs Agreement to Acquire Nokia's Security Appliance Business
Check Point Software Technologies Ltd. (Nasdaq: CHKP), the worldwide leader in securing the Internet, today announced that it
has signed an agreement to acquire Nokia's security appliance business. The two businesses have collaborated over the past
decade to deliver industry-leading enterprise security solutions.
September 11: COMPUTER LINKS SIGNED DISTRIBUTION AGREEMENT WITH THIRD BRIGADE
The Value Added Distributor COMPUTERLINKS AG today announced the sale of security solutions start from Third Brigade known.
Third Brigade has focused on the provision of host immune attack systems for companies. Third Brigade Deep Security provides
proven network security measures, including firewall and intrusion detection and attack protection for servers.
Currency Conversion: Euro 1 = US$ 1.328 [or US$1=Euro 0.75]; Against the US$ the Euro fell 65.09 basis points (or 0.7%) for the
day; strengthened 0.2% for the week; strengthened 0.1% for the month; slumped 10.0% in the past year. Euro 1 = 100 Eurocents.
Source:
Document NBGESR0020090507e556000ao
Bankruptcy
Bankruptcy
1. USA
Boston Globe avoids shutdown - at least for now
Alexandra Marks; Bridget Huber

Alexandra Marks; Bridget Huber Staff writer of The Christian Science Monitor | Contributor to The Christian Science Monitor
1269 words
04-May-2009
The Christian Science Monitor
ALL
2
English
© 2009 Christian Science Monitor. Provided by ProQuest Information and Learning. All Rights Reserved.
The Boston Globe will survive for at least another day, but the economic problems dogging New England's storied newspaper are
reflective of an entire industry in the midst of a historic, wrenching transformation. The Globe, which is owned by The New York
Page 51 of 108
Times Co., is reportedly on track to lose $85 million this year. That's almost a third of its operating costs. The owners, which had
threatened to file a formal notice of intention to shut the paper down in 60 days, said Monday morning that they will defer that filing
because they reached agreements with six of the Globe's seven unions. Media analysts are watching closely how the Globe and
the Times deal with the paper's daunting losses. Some hope the decisions could produce a prototype that other struggling big-city
newspapers could model to survive the current recession, during which advertising revenues have plummeted and both readers and
advertisers have flocked to Internet.
Boston Globe spokesman Robert Powers said the Globe is "very pleased" with the progress made so far, even though it's
"disappointed" not to have reached agreement with its largest union, the Boston Newspaper Guild. "Because of that, we are
evaluating our alternatives under both the Guild contract and applicable law to achieve as quickly as possible the workplace
flexibility and remaining cost savings we need to help put The Globe on a sound financial footing," he said in a statement issued late
Monday morning. There has been some speculation that the Times is attempting to cut costs at the Globe to sell the Boston paper,
which it bought in 1993 for $1.1 billion. Sources have told The Christian Science Monitor that the Times is negotiating with at least
one group of investors, although under very strict guidelines, including that any talks be kept strictly private. New York Times Co.
spokeswoman Catherine Mathis said in an e-mail: "It is our longstanding policy not to comment on rumors concerning potential
acquisitions or divestitures." The New York Times Co. had originally set a May 1 deadline for the Globe's unions to agree to $20
million in cuts, half of which are to come from the Guild. It extended the deadline through the weekend before negotiations reached
an impasse Monday morning. Talks are expected to continue, although specific times have not been disclosed. At issue have been
salary cuts, as well as an end to lifetime job guarantees and other benefit protections. "It does reflect the sudden changes in the
business: Just the concept of lifetime job guarantees obviously seems outlandish today," says Matt Storin, a former editor of The
Boston Globe who now teaches journalism at the University of Notre Dame in Indiana. The Boston Globe is what's known as a
full-service newspaper, with bureaus around the United States and the world producing news tailored to Boston and New England
readers. Mr. Storin says "it's obvious" that doesn't work anymore because of the expense of that type of reporting. "It's vital the
Globe survives, but it's going to have to survive as a niche publication, the niche being authoritative and investigative journalism
within those confines of Boston and New England," he says. "Ironically, it's sort of what the Globe was ... in the mid 1960s when
[former editor] Tom Winship took over the paper and remade it." But some Boston readers would like the Globe to remain as it is,
even if it costs them more. "If this city loses its newspaper of record, it will be very destructive," says Todd Lee, an architect who has
subscribed to the Globe since 1977. "We all, the citizenry, benefit from having a forum that's not tailored to special interests, but to
general readership." Mr. Lee says he would be willing to pay more for his subscription if it would help keep the Globe afloat. Another
longtime Globe subscriber, Marie Crocetti, says she is "heartbroken" at the prospect of losing the paper. "I've been reading it for 60
years," she says. "I can't imagine not having it." Although Mrs. Crocetti also reads the online versions of The Washington Post and
The New York Times, she says, "[Reading online] is such a different experience. You look for something specific. You're not going
to spend an hour reading it or have your coffee with it." But many Boston readers are like Matt Bailey. He's a chef who reads the
Globe online for world news, but he gets most of his local news from free alternative newsweeklies and the free Boston edition of
the Metro newspaper, which is distributed on the subway. "It's almost like, why would you pay for a paper?" he asks. Still, he says,
it's hard to imagine the Globe disappearing: "It's an icon. It's a little strange to think it might not exist." On break from his job as a
barista in Boston, Andrew Smith is ambivalent about the potential loss of the Globe. He doesn't read it regularly, although the
Starbucks where he works carries it and he glances at the headlines most days. "I can't really say," he says. "My knee-jerk reaction
is to say it wouldn't [affect me], but I think it would. I'd be sad." Mr. Smith grew up in the Boston suburbs and went to college at the
University of Massachusetts, Boston, near the Globe's headquarters. The current financial struggles are also difficult for many
former employees to watch - particularly those still feel pride in the national reputation the Globe built as a journalistic powerhouse,
known for its investigative journalism and worldwide bureaus. "It's sad and stunning to see the peril it's in today," says Mark
Jurkowitz, a former ombudsman for the Globe who is now associate director of the Project for Excellence in Journalism, a think tank
in Washington. For decades, newspapers were able to subsidize high- quality, in-depth journalism even as they covered daily
events around the city and the world. But such journalism is expensive, and a key question for the industry to figure out is who will
subsidize that reporting, Mr. Jurkowitz says. "The real problem in journalism today is not an audience problem; it's a revenue
problem," he says. "If you combine the total eyeballs that are either reading the daily papers or reading them online, these papers
have more readers than they've ever had before. People are still interested in the news. The question is, how do we get advertisers
or news aggregators [like Google] or the general public to pay for it?" Even the most optimistic observers say it could take five to 10
years for the media industry to adapt to the drastically changing economic landscape. "We have to look at the vulnerability of The
Boston Globe within the context of many other weaknesses in American culture and American life right now," says Roy Clark, a
senior scholar at the Poynter Institute, a nonprofit journalism foundation based in St. Petersburg, Fla. "We now have to build a
bridge of survivability so we can eventually revive and thrive. But it won't come easy: It requires a lot of work, a lot of ingenuity, a lot
of sacrifice and entrepreneurial cleverness, and lots of experiments, some of which may not pan out."(c) Copyright 2009. The
Christian Science Monitor
Document CHSM000020090505e55400001
2. Edison International - Company News
293 words
04-May-2009
NewsTrak Daily
English
Copyright 2009 NewsTrak International Co. Ltd. All rights reserved.
On 30 Apr 2009, (Reuters) reported Calif. Sunrise natgas power unit shut
On 24 Apr 2009, (EducationGAR Online) reported EducationInsuranceON InfrastructureTelecommunicationsRNATIONAL Files

SEC form 8-K, Change in Directors or Principal Officers
On 23 Apr 2009, (Business Wire) reported Southern California Edison Declares Dividends
Page 52 of 108
On 22 Apr 2009, (Reuters) reported ScienceE California Mountainview 4 power unit back
On 21 Apr 2009, (Business Wire) reported California Utilities Commission, Utility Companies Launch We CARetailing and
Distribution California to Help Families Enroll in Money-Saving Programs
On 21 Apr 2009, (Reuters) reported ScienceE Mountainview 4 power unit offline in California
On 16 Apr 2009, (AP) reported Idaho wind farm gets 20-year purchase agreement
On 16 Apr 2009, (Business Wire) reported Southern California Edison Reminds Customers to Call 811 Before Starting Digging
Projects
On 15 Apr 2009, (AP) reported Sector Snap: Utilities downgraded on natural gas
On 15 Apr 2009, (Reuters) reported UPDATelecommunications - First Solar, Sempra in new solar plant deal
On 14 Apr 2009, (Reuters) reported Abound, U.S. solar startup, takes on First Solar
On 7 Apr 2009, (Business Wire) reported Edison International Announces Winners of Edison Challenge Competition
On 6 Apr 2009, (Consumer and ConsumerablesBN) reported Edison International Earnings Call scheduled for Fri, May 8
On 6 Apr 2009, (Business Wire) reported Edison International to Hold Conference Call on First Quarter 2009 Financial Results
On 6 Apr 2009, (Reuters) reported UPDATelecommunications - APS shuts Ariz. Palo Verde 3 reactor for refuel
On 1 Apr 2009, (Business Wire) reported Rare Birds Flocking to Newly Restored San Diego Wetlands Area
On 1 Apr 2009, (Fortune) reported Google to map green energy zones

On 1 Apr 2009, (Reuters) reported Calif senate passes bill to expand green power requirements
News Snapshot
30 April 2009
Document NETRAK0020090504e554002ml
3. News Highlights: Top Equities Stories Of The Day
1228 words
30 April 2009
19:00
Dow Jones News Service
English
(c) 2009 Dow Jones & Company, Inc.
TOP STORIES
CHRYSLER TO FILE CHAPTER 11 BANKRUPTCY
Auto maker will file for bankruptcy protection kicking off what the administration predicts will be a 30- to 60-day restructuring. U.S.
government will provide up to an additional $8 billion in aid, including up to $3.5 billion in debtor-in-possession financing, to ensure
Chrysler survives the reorganization process and finalizes a partnership with Italian auto maker Fiat.
US CONSUMERS CUT SPENDING IN MARCH AS PAY FALLS
U.S. consumers lower spending during March as the recession shrinks their paychecks a fifth time in six months. Personal
consumption falls at a seasonally adjusted rate of 0.2%. Personal income, which includes wages and salaries, retreats 0.3%, the
fifth drop in six months.
US STOCKS HIGHER ON HOPES FOR ECONOMY
Budding hopes for an economic recovery keep U.S. stocks' winning streak going, with consumer names and other
growth-dependent categories leading the way. The DJIA has surrendered part of its earlier gains but is still up nearly 1% on the day.
WHO SAYS 236 CONFIRMED LAB CASES OF SWINE FLU
Page 53 of 108
The World Health Organization says 236 cases of the new swine flu virus have been confirmed by laboratories, including 97 in
Mexico, where seven have died, but says there's no reason to elevate the current Phase 5 alert level to Phase 6.
EXXON MOBIL NET DROPS 58% ON SHARPLY LOWER PRICES
Exxon Mobil's 1Q net income drops 58% to $4.7 billion, or 92c a share, on sharply lower oil and gas prices and the economic
slowdown, as revenue falls 45% to $64 billion. Analysts expected earnings of 95c. Shares down 2%.
DOW CHEMICAL POSTS SURPRISE PROFIT ON COST CUTS
Chemicals giant's 1Q net tumbles 97% to $24 million, or 3c a share, but trumps analysts' expectations of a loss, as cost-cutting and
a steep drop in feedstock prices help offset slumping demand for chemicals. Revenue drops 39% to $9.1 billion. Shares up 18%.
FORD CLIMBS TO 9-MONTH HIGH
Shares of Ford Motor rise 8% to a nine-month high as Chrysler works on filing for federal bankruptcy protection, as a move once
thought to be disastrous for all auto makers now appears to be a way for Ford to gain market share.
KODAK LOSS WIDENS ON DEMAND SLUMP
Kodak's 1Q loss widens to $353 million, or $1.32 a share, on a continued downturn in demand for film products. Company
suspends its dividend and announces salary cuts for a number of executives. Shares fall 2%.
ISM CHICAGO INDEX CLIMBS IN APRIL
The Institute for Supply Management-Chicago's index measuring business activity in the Chicago area climbs sharply in April to
40.1 from a nearly 30-year low in March of 31.4, signaling an end to the recession in December.
HALF OF 1Q MORTGAGE REFIS CUT RATES BY 20%
Freddie Mac says that half of borrowers who refinanced their mortgages in the 1Q lowered their annual interest rate by at least
20%, despite tight credit markets but as as conventional 30-year fixed-rate loan fell to 5.06% on average.
DISNEY/ABC SAID IN DEAL TO JOIN HULU
Walt Disney has reached a deal to buy a nearly 30% stake in Web-video aggregator Hulu and put full episodes of its ABC TV shows
on the site, according to people familiar with the matter. Disney shares gain 5%.
HONDA OFFERS $1.25B SECURITIES UNDER TALF
Honda Motor is in the market with a $1.25 billion asset-backed securities deal that is eligible for funding under the Federal
Reserve's TALF program. Price guidance on largest portion is 150 to 155 basis points over benchmark.
SEC EYES ALDUS IN PENSION-FUND PROBE
Securities and Exchange Commission asks a federal judge to add Aldus Equity Partners and its founder Saul Meyer as defendants
in a New York state pension-fund investigation of payments made in exchange for investments.
PROCTER & GAMBLE 3Q NET DOWN 4% ON FOLGERS CHARGES
Consumer-products giant's fiscal 3Q earnings fall to $2.6 billion, or 84c a share, after charges from divesting Folgers coffee
business. Revenue slips 8% to $18.4 billion on the stronger dollar as organic sales rise 1%. Company sees 4Q earnings of 74c-79c
a share. Shares fall 3%.
FDA STRENGTHENS WARNINGS ON BOTOX
Page 54 of 108
FDA requiring the agency's toughest boxed warning regarding the risk of adverse events when the effects of the toxin -- or the
active ingredient used in Botox and similar products -- spread beyond the site where it was injected.
MOTOROLA LOSS WIDENS ON SLUMPING SALES, MARGINS
Wireless handset maker's loss widens to $228 million, or 10c a share, as handset sales slump and margins fall. Net sales drop 28%
to $5.37 billion. The company remains silent on the new line of cellphones intended to spark its turnaround. Shares down 6%.
KELLOGG NET UP ON NORTH AMERICAN SALES GAINS
Cereal maker's 1Q net edges 1.3% higher to $319 million, or 84c, above analysts' expectations of 79c on the strength of its North
American sales. Revenue decreases 2.7% to $3.17 billion. Shares add 8%.
COMCAST NET RISES 6% ON STRONG CASH FLOW
Cable provider's 1Q net rises to $778 million, or 27c a share, above expectations of 23c, demonstrating continued resilience from
the cable industry despite the economic turmoil weighing on its business. CFO says subscriber growth slows in March and April.
Shares up 6%.
VIACOM SEES US AD MARKET STABILIZING
Viacom Chief sees signs of U.S. ad market stabilization in recent weeks, after reporting 1Q net income fell 34% to $180 million, or
29c a share, from $274 million, or 42c a share, a year earlier. Revenue down 6.8% to $2.91 billion.
ECONOMIC SENTIMENT INDICATOR EDGES HIGHER
U.S. economy's contraction slows during April, but there are still no signs of a full-blown recovery, according to the new Dow Jones
Economic Sentiment Indicator. The ESI aims to identify significant turning points in the U.S. economy
AOL REPLACES AD SALES HEAD
In the first shakeup of its executive ranks since Tim Armstrong took over as chief executive this month, the AOL's top ad sales
executive, Gregory Coleman, is being replaced with a former Google executive.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
AL'S EMPORIUM
A Bug For What Ails Biotech
Al Lewis talks with Dr. John Cheronis, who for 26 years has been developing compounds that may inhibit the enzymes that cause
the deadly lung inflammation associated with Swine Flu and other headline-grabbing diseases.
ANALYSIS
For Some Companies, A New Way Of Presenting 'Net Income'
The change, which takes effect with the first quarter for most companies, affects how companies report "noncontrolling interests" --
investments in other firms in which a company owns only a minority stake and doesn't control, writes Michael Rapoport.
============ U.S. MARKETS ACTION ===========

DJIA down 2.31 points to 8183.42
NASDAQ up 15.60 points to 1727.54
S&P 500 up 0.25 points to 873.89
Page 55 of 108
10-year T-note 96 27/32 at 3.124 yield dn .024

NYMEX Crude up/down $X.XX at $XXX.XX/bbl
Euro/Dollar up/down X.XXXX at X.XXXX
[ 04-30-09 1300ET ]
5030 55101
Document DJ00000020090430e54u000lt
4. C
Briefly: Buffett's musings maybe not so entertaining
Fort Worth Star-Telegram

666 words
30-Apr-2009
The Fort Worth Star-Telegram
2
English
Copyright (c) 2009 The Fort-Worth Star-Telegram. All rights reserved.
April 29 2009
Buffett’s musings maybe not so entertaining
Billionaire Warren Buffett, who entertained shareholders at past Berkshire Hathaway annual meetings with musings on baseball and
Paris Hilton, will focus investor attention Saturday on his efforts to turn around the company after its worst year in four decades.
Buffett’s Omaha, Neb.-based firm has suffered a 34 percent decline since Dec. 31, 2007, with an ill-timed investment in oil producer
ConocoPhillips and downgrades by ratings firms. "It’s going to have a much more serious tone," said Bill Bergman, an analyst with
Morningstar in Chicago. "Berkshire shareholders aren’t used to a 40 percent decline, and we’re in a serious moment for our
economic climate." Berkshire has posted five straight profit declines on deteriorating results at insurance units and liabilities from
derivative bets. — Bloomberg News
Study: Doctors should write on Wikipedia
Researchers suggest that doctors spend more time writing and editing Wikipedia pages on medical topics, despite questions that
have been raised about the collaborative online encyclopedia’s credibility. Medical professionals should recognize that Wikipedia
has become a major online source of health information for consumers, researchers wrote in the Journal of the American Medical
Informatics Association . The study was prepared by two Wikipedia contributors. The report measured how often Wikipedia entries
showed up among the top results from main Web search engines such as Google when the researchers entered health-related
terms. It also looked at whether people use Wikipedia more to find health information after hearing news of a disease outbreak or
other health worries. — The Associated Press
French consider punishing download pirates
French legislators reconsidered a bill Wednesday that would punish people who illegally download music and films by cutting off
their Internet connections. The bill was rejected earlier this month. Record labels and film companies looked to the measure to
boost ever-shrinking profits in the face of online file-sharing, which lets people swap music files without paying. Users would receive
e-mail warnings for their first two identified offenses, a certified letter for the next and would have their Web connection severed, for
as long as one year, for any subsequent illegal downloads. — The Associated Press
Tropicana casino in New Jersey bankrupt
The Tropicana casino in Atlantic City, N.J., filed for bankruptcy Wednesday after winning regulatory permission to try to sell the
resort to Carl Icahn and a group of other investors. The bankruptcy should allow an auction of the casino before the end of June,
said retired Judge Gary Stein, appointed by the New Jersey Casino Control Commission as trustee for the property, an affiliate of
Tropicana Entertainment Llc. The bankruptcy is necessary for a "free and clear" sale of the casino, which is operating profitably, he
said. Court papers filed in U.S. Bankruptcy Court in New Jersey listed assets and debt of as much as $1 billion each. The auction
may generate multiple bids. — Bloomberg News
Pricey Montana resort in financial straits
The founders of the Yellowstone Club are trading blame over who is responsible for the financial collapse of the Montana haven for
the rich that has fallen more than $400 million into debt. Members of the private ski resort — including former Vice President Dan
Quayle and Bill Gates — pay substantial sums for the privilege of building expensive homes in the gated resort, but they do not own
the club itself. Its founders, recently divorced Tim and Edra Blixseth, blame each other for the problems that led the club to file for
federal bankruptcy protection. Edra Blixseth has owned the club outright since August. But Tim Blixseth was in control in 2005 when
the Yellowstone Club took a $375 million loan through the firm Credit Suisse. Most of that money went to the Blixseths’ private
accounts, to be spent on luxury jets and estates in California, France, the Caribbean, Mexico and Scotland. — The Associated
Press
Document FWST000020090430e54u0001w
Page 56 of 108
5. AUTO CRISIS
Report on Business: International
MEET THE NEW BOARD OF DIRECTORS; As auto workers prepare to become the new bosses in Detroit, it's less a victory
than an attempt not to lose everything
BARRIE McKENNA
1094 words
29-Apr-2009
The Globe and Mail
B1
English
2009 CTVglobemedia Publishing Inc. All Rights Reserved.
WASHINGTON -- Legendary United Auto Workers boss Walter Reuther was kidnapped, beaten and fired in the fight for such
historic labour breakthroughs as pensions, health care and cost-of-living raises.
Mr. Reuther, who died in 1970, might well wonder what has become of his union as the current generation of auto workers ponders
a move from the shop floor to the boardroom, as major owners of two of the Detroit Three.
The embattled auto workers stand poised to become the new bosses in Detroit, owning a majority of Chrysler LLC and 39 per cent
of General Motors Corp. GM-N This isn't quite the way organized labour envisaged its rise to European-style labour supremacy in
the workplace.
But the United Auto Workers union, which negotiated the deal, is faced with a stark choice: Watch one or both auto makers slide
into bankruptcy protection and lose everything, or accept major concessions and get a risky pile of stock.
“We have a union that feels like it has no choice,” explained John Revitte, a professor of industrial relations at Michigan State
University in East Lansing, Mich.
“This is spinning out of control and [union leaders are] basically … hoping they have more influence with the Obama administration
than they would with a bankruptcy judge.”
Under a deal hashed out between Chrysler and the UAW, workers would give up the right to strike until 2015.
They'll also do without automatic yearly cost-of-living raises, several holidays and significant overtime. If the company and its
workers can't agree on a new contract when the current one expires in 2011, an arbitrator must base the company's labour costs on
a rate comparable to Chrysler's U.S. competitors, including foreign-owned manufacturers.
In return for the concessions, Chrysler would put stock into a health care trust fund the UAW will manage for its retired workers.
Workers would also get a seat on the company's seven-member board – not enough to exert day-to-day control, but plenty to have
a seat at the table and share in a potential industry recovery.
“GM and Chrysler can't be compared with Google, but both auto makers could prove to be viable and prosperous some day,” said
Harley Shaiken, a professor and labour relations expert at the University of California at Berkeley. “And if they do, UAW workers will
share in that.”
Chrysler workers don't have the luxury of time to consider this life-altering change in their situation. They are slated to vote on the
deal today.
UAW president Ron Gettelfinger acknowledged the “painful” sacrifices, but pointed out that jobs, health care and wages are on the
line.
It isn't the first time unionized workers have assumed ownership in the face of hardship, and it's unlikely to be the last. The grim
choice of ownership versus unemployment is similar to what U.S. steel workers confronted in the late 1980s, and it may be the
future of many newspaper workers, Prof. Revitte suggested.
“Let's see what those unions do with their choices,” he said. “[Labour's accumulated gains are] all disappearing very quickly.”
Union clout, and membership, has been in steady decline for a generation now, tumbling to just 7.5 per cent in the United States
from 35 per cent at the end of the Second World War. UAW membership at the Detroit Three has fallen more than 40 per cent since
2003, and is headed lower in the wake of recent layoffs.
The contract concessions at Chrysler are “very significant,” Prof. Revitte said. But he added: “In comparison to it all disappearing,
what choice do they have?”
Turning auto workers into owners isn't just fraught with financial risk. It also may drag the UAW into potentially messy conflicts of
interest.
“Having majority ownership of a corporation may sound from the outside like great union power, but it puts the UAW in a difficult
position because they're wearing two hats – representative of the workers and quasi-owners of the company,” explained Gary
Chaison, an industrial relations professor at Clark University in Worcester,
Page 57 of 108
Mass.
So many decisions in collective bargaining are in direct conflict, such as whether to strike or determining a company's ability to pay,
according to Prof. Chaison.
“They really have to argue with themselves,” he said. “There's going to be a confusion of roles here. The union has to watch itself
very carefully. This is not what unions do. Unions represent workers in dealings with employers. Unions do not also try to act as
employers.”
Nor will it be easy to sell workers on the concept. “They don't like the position of being the junior partner in success and the senior
partner in failure,” Prof. Chaison said.
And yet employee ownership, even in unionized workplaces, is not unprecedented. Consumer products giant Procter & Gamble has
been employee-owned since the 1890s. Formal Employee Stock Ownership Plans have been around since 1974 and now cover
roughly 11,000 companies and 11.5 million workers.
Auto workers took their first step toward ownership in 2007, when they allowed GM and Chrysler to escape billion of dollars worth of
health care obligations in return for creating union-controlled trust funds, known as Voluntary Employee Beneficiary Associations.
Those carefully managed trust funds, aimed at keeping the retiree health care system funded, will now control labour's ownership
stake.
Amid troubles facing the steel industry in the late 1980s, Republic Steel successfully emerged from bankruptcy protection as an
employee-owned company in a deal brokered by the United Steel Workers of America. The company is now owned by Industrias
CH of Mexico. Republic became a model for several employee takeovers in the steel industry.
****
UNION LEADERS THROUGH TIME
WALTER REUTHER, 1946-1970

Won a host of firsts for workers, including a guaranteed annual wage, cost-of-living adjustments, pensions, family health insurance
and profit-sharing.
LEONARD WOODCOCK, 1970-1977
Fought GM in a 10-week strike that earned workers the right to retire at age 58 after 30 years of service.
DOUGLAS FRASER, 1977-1983
Led the campaign to save Chrysler from bankruptcy in 1980 with a $1.5-billion (U.S.) government bailout.
RON GETTELFINGER, 2002-PRESENT
Negotiated the big contract concessions of 2007 and subsequent mass layoffs.
Illustration
Document GLOB000020090429e54t00004
Management Moves
Management Moves
1. TECHNOLOGY: DISCOVER - DECIPHER - DISRUPT; LOOKING OUT FOR NO. 2
Who's on Deck in Tech?
Jessi Hempel
774 words
11-May-2009
Fortune
37
Volume 159; Issue 10; ISSN: 00158259
English
© 2009 Time Incorporated. Provided by ProQuest Information and Learning. All Rights Reserved.
Apple's Steve Jobs isn't the only chief executive apparently without a concrete plan for passing the torch. Surprisingly few
technology CEOs have anointed heirs.
LAST YEAR WHEN APPLE CEO Steve Jobs showed visible signs of illness at public speaking events, the company's stock began
to gyrate unpredictably. When Jobs unexpectedly spoke on the company's fourth-quarter earnings call, the stock rose 12% in part
because he simply showed up. When he canceled his MacWorld appearance, Apple shares plunged 7%. Investors worried that
Jobs might step down. Could anyone replace him? Apple has never announced a succession plan publicly, although chief operating
Page 58 of 108
officer Tim Cook is running Apple while Jobs is on medical leave. And like Apple, most tech companies remain mum on the subject
of CEO succession. Few of the biggest names in tech, from Cisco to IBM to Oracle, have clear-cut heirs to their CEOs; most don't
even have publicly designated second-in-command executives who would be ready to take over should their chiefs fall ill or resign
unexpectedly. Indeed, none of the big tech companies we contacted would comment for this story.
Executive recruiters say Silicon Valley companies have always been more nonchalant about passing the torch than, say, banks or
manufacturers because they tend to be younger companies, often helmed by their charismatic founders. But it isn't unprecedented
for a tech entrepreneur to have a strong wingman: Microsoft's Bill Gates tapped Steve Ballmer as his No. 2 long before stepping
down as CEO in 2000 (In some cases the founders may end up as future CEOs: Google co-creator Sergey Brin could be a
contender to run the company when current chief Eric Schmidt steps down.)
Sure, founders generally have a hard time letting go even when their departures are expected. Dell founder Michael Dell
handpicked Kevin Rollins, president and chief operating officer, as his successor in 2004, only to replace him when the company
lost its lead in PC market share to rival Hewlett-Packard. Today Dell has no president or operating chief, and analysts believe the
board may look to an outsider to run things if sales continue to lag.
The founder factor may explain why Oracle's 64-year-old creator and CEO, Larry Ellison, has been reluctant to announce a
successor. (In fact, Oracle has two presidents, Safra Catz and Charles Phillips, who could step into the top job if Ellison
unexpectedly retired.) But what's Sam Palmisano's excuse? Who is John Chambers' No. 2? IBM is known as a training ground for
future CEOs, yet Palmisano, who took over in 2003, doesn't have a main lieutenant. Cisco, which Chambers runs, has over the
years bid farewell to a few executives who were considered successors, including Joost CEO Mike Volpi. But none of the
company's five executive vice presidents jump out as Chambers' successor.
Of course, just because those CEOs haven't named successors doesn't mean they're not planning for the future. And while
corporate governance experts urge companies to be transparent about their executive succession plans, a CEO may have one very
good reason for declining to name his replacement. (No, not ego, though that's clearly a factor.) Once a company designates an
heir, all the talented executives who were eyeing the CEO-in-waiting title might simply leave.
The Next Generation of Tech Chief Execs?
None of these sitting CEOs are planning to retire, but Steve Jobs' health woes got us thinking about potential heirs in the sector.
[This article contains a table. Please see hardcopy of magazine or PDF.]
[PULLQUOTE]
THE FOUNDER FACTOR MAY EXPLAIN WHY ELLISON IS LOATH TO NAME HIS NO. 2.
See also additional image(s) in Table of Contents of same issue.

SPECIAL REPORT: How Bernie Did It | Copyright (c) 2009 Time Inc. All rights reserved. No part of this material may be duplicated
or redisseminated without permission. | Jessi Hempel |
[ROBERTO PARADA]; A NEW REIGN? AN ARTIST IMAGINES GOOGLE CEO ERIC SCHMIDT (RIGHT) BEQUEATHING HIS
TITLE TO CO-FOUNDER SERGEY BRIN.; ILLUSTRATION | | [JOBS: PEER GRIMM--DPA/CORBIS]; PHOTO | | [COOK:
COURTESY OF APPLE]; PHOTO | | [DELL: JHSB--CHINAFOTOPRESS/GETTY IMAGES]; PHOTO | | [SCHUCKENBROCK:
QILAI SHEN--BLOOMBERG NEWS/LANDOV]; PHOTO | | [HURD: DAVID YELLEN]; PHOTO | | [BRADLEY: DAVID YELLEN];
PHOTO | | [LIVERMORE: DAVID YELLEN]; PHOTO | | [PALMISANO: KEVIN DIETSCH--UPI/LANDOV]; PHOTO | |
[OTELLINI: ROBYN BECK--AFP/GETTY IMAGES]; PHOTO | | [IMALONEY: JOCHEN SIEGLE--DPA/LANDOV]; PHOTO | |
[ELLISON: JUSTIN SULLIVAN--GETTY IMAGES]; PHOTO | | [CATZ: PAUL SAKUMA--AP]; PHOTO | | [PHILLIPS: JIM
YOUNG--REUTERS/LANDOV]; PHOTO | | [TWO PHOTOS] | | [SIX ILLUSTRATIONS] |
Document FORTU00020090430e55b0000a
2. Inform Technologies Appoints Rob Balazy as New Chief Executive
563 words
6 May 2009
15:11
Associated Press Newswires
English
(c) 2009. The Associated Press. All Rights Reserved.
Officer
Inform Technologies Appoints Rob Balazy as New Chief Executive Officer
Former NameMedia, Inc. Executive Joins Inform Technologies' Senior Management Team
http://www.inform.com
Inform Technologies, a leading developer and provider of semantic web solutions, today announced that Rob Balazy (
Page 59 of 108
http://inform.com/content/about.html
) has joined the company as Chief Executive Officer. As part of this new position, Balazy will be responsible for further expanding
Inform's publisher services business and leading the company through the next phase of its growth and expansion.
Balazy brings more than 10 years of business development and product marketing experience with companies such as
NameMedia, Inc., Lycos and Applied Semantics (Google, Inc). Prior to joining Inform Technologies, he served as Vice President,
Business Development at NameMedia, Inc. During his tenure, Balazy was responsible for the strategic initiatives of the company
including acquisitions and alliances, as well as the media sales group.
Balazy has held a variety of positions with both public companies and more entrepreneurial technology start-ups. He was Senior
Director, Business Development at Applied Semantics, which was acquired by Google in 2003. While at Applied Semantics, he led
the commercial launch of AdSense with online publishers including CNet, Excite, Lycos, and CBSSportsline. He began his career in
online media and interactive services as a founding employee at Afternic.com, which was acquired by Register.com in 2000.
"Rob brings exceptional experience plus a proven track record to Inform," said Santo Politi, General Partner at Spark Capital.
"We're delighted to have him on board and look forward to his leadership as the company continues to grow its publisher base and
seeks to further expand its offerings."
"There is a significant opportunity to help publishers manage the rapid transformation of how audiences consume media and
content," said Balazy. "The Inform solution has typically been deployed inside a publisher's ecosystem but the core technology
provides capabilities that can attract audience and build interaction across the long-tail. I'm delighted to join the company at this
exciting time, and I look forward to further establishing our position in the market and driving value for our customers, employees,
and investors."
Balazy holds a B.S. in Management Science from Boston University.
About Inform Technologies
Backed by Spark Capital and The Stephens Group, Inform Technologies is a leading developer of semantic web solutions that
search, organize and link content of any type. Inform's technology platform automates the work necessary to support production
and editorial teams, continually teaching itself how information is related and automatically updating links and topics as the context
or available content changes. Inform-powered semantic relationships form the foundation of definitive content destinations. For
more information, visit
) , find Rob Balazy on LinkedIn (
http://www.linkedin.com/pub/1/b9b/163
) or follow Rob Balazy on Twitter @rbalazy (
http://twitter.com/rbalazy
).
Add to Digg (
http://digg.com/submit?phase2&urlhttp://www2.marketwire.com/m
/re lease--html--b1?release--id498252) Bookmark with del.icio.us (
http://del.icio.us/post?v4&noui&jumpclose&urlhttp://www2.mar
etw ire.com/mw/release--html--b1?release--id498252) Add to Newsvine (
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3. American Business Media Names New Board of Directors & Officers
314 words
05-May-2009
Targeted News Service
English
Copyright 2009 Targeted News Service ALL Rights Reserved
Page 60 of 108
AMELIA ISLAND, Fla., May 5 -- The American Business Media issued the following news release:
Approximately 180 business American Business Media has named several new board members and selected the 2009-2010 board
of directors to serve during its 103rd year, as voted in during the Annual Conference. The following board members will serve as
officers for the 2009/2010 Association year, beginning July 1:
Executive Committee:
* Chair: Peggy Walker, President/COO, Vance Publishing Corp.

* Vice Chair: Charles McCurdy, Chair/CEO, Canon Communications LLC
* Secretary: Jeffrey Lapin, President, Farm Progress Companies
* Treasurer: Bill Pollak, CEO, Incisive Media North America
* Past Chair: Gary T. Fitzgerald, Chair/CEO, Meister Media Worldwide
ABM welcomes its new board members for the 2009/2010 year, voted in during Annual Conference, May 2009:
* James Casella, President/CEO, Asset International

* Glenn Goldberg, President, Information & Media, The McGraw-Hill Companies
* Rex Hammock, President, Hammock Publishing, Inc.
* Michael Hansen, CEO, Elsevier Health Sciences
* Joseph Loggia, CEO, Advanstar Inc.

* Sharon Rowlands, CEO, Penton Media
These new members join the following board members:
* Frank Anton, CEO, Hanley Wood, LLC

* Bob Biolchini, President/CEO, PennWell Corporation
* Bob Carrigan, CEO, IDG Communications
* Greg Farrar, President, Nielsen Business Media, Inc.
* Gary Fitzgerald, Chairman/CEO, Meister Media Worldwide
* Roger Friedman, President, Lebhar-Friedman, Inc.
* Jeffrey Lapin, President, Farm Progress Companies
* Vicki Masseria, President/CEO, Ascend Media
* Charles McCurdy, Chair/CEO, Canon Communications LLC

* Marion Minor, President/CEO, M2Media360
* Bill Morrow, EVP, Operations, Crain Communications Inc.

* Bill Pollak, CEO, Incisive Media North America
* F. Michael Reilly, President/CEO, Randall-Reilly Publishing

* Sam Sebastian, Director, B-to-B & Local Markets, Google, Inc.
* Tad Smith, CEO, Reed Business Information
* Jim Spanfeller, President/CEO, Forbes.com
* Anthea Stratigos, CEO, Outsell Inc.
* Neal Vitale, CEO, 1105 Media, Inc.
* Peggy Walker, President/COO, Vance Publishing Corp.

TNS mv45-090506-2285575 18MASHMarlyn
Document TARGNS0020090506e555000s3
4. B
BOARD TIES AT APPLE AND GOOGLE SCRUTINIZED
By MIGUEL HELFT and BRAD STONE

78 words
05-May-2009
The New York Times Abstracts
1
Page 61 of 108
English
Copyright 2009 The New York Times Company. All Rights Reserved.
Federal Trade Commission begins inquiry into whether close ties between boards of Apple and Google amount to violation of
antitrust laws; Apple and Google share two directors, Google chief executive Eric E Schmidt and Arthur Levinson, former chief
executive of Genentech; Clayton Antitrust Act of 1914 prohibits person's presence on board of two rival companies when it would
reduce competition between them (M)
Document NYTA000020090506e5550000v
5. Google Haifa center head Maarek leaves for Yahoo!.
Noa Parag
284 words
05-May-2009
Israel Business Arena
English
The Financial Times Limited. Asia Africa Intelligence Wire. All material subject to copyright. Israel Business Arena (c) 2009 All
rights reserved
Sources inform "Globes" that Google Haifa Engineering Center director Dr. Yoelle Maarek is leaving her post. Maarek looks set to
join Google's rival Yahoo.
Dr. Maarek's departure comes just three months after Google announced its strategy of merging its R&D centers in Tel Aviv and
Haifa into one unit.
Consequently, Dr. Maarek's decision to leave is no surprise. As a result of the restructuring Prof. Yossi Matias, who previously
headed Google's Tel Aviv R&D Center is now head of Google's unified Israel operations. Dr. Maarek, previously on an equal footing
with Prof. Matias, found herself answerable to him.
However, the fact that Dr. Maarek is moving to the R&D center in Haifa of Google's competitor Yahoo is a major surprise. Two
years ago in an interview with "Globes" magazine "Firm" Dr. Maarek said, "Google is the dream for the Israeli spirit."
In response to the reports of Dr. Maarek's departure Google said, "We appreciate the work of Yoelle and wish her continued
success in the future. Yoelle contributed much to Google since the launching of the R&D center in Haifa."
Yahoo's Haifa R&D center was only opened in 2008 and is much smaller than Google's facility. The Yahoo center is headed by Dr.
Ronny Lempel and is believed to employ only 10 people. Ironically, Yahoo's R&D center is located in the same building as Google,
several floors below.
Published by Globes [online], Israel business news -
www.globes-online.com
- on May 5, 2009
Copyright of Globes Publisher Itonut (1983) Ltd. 2009
WIBR71298846
Document AIWIBA0020090506e55500007
Contracts/Orders
Contracts/Orders
1. WSJ BLOG/Digits: An Android Netbook From Dell?
219 words
6 May 2009
20:03
English
(This story has been posted on The Wall Street Journal Online's Digits blog.)
Posted by Justin Scheck
If you believe one Washington State software company, PC giant Dell is coming out with a netbook that uses Google's operating
system instead of Microsoft software.
Google Android OS was developed for smart phones, but it's proven attractive to makers of other devices, like netbooks, for its
potential to break their dependency on Microsoft software and Intel chips.
Page 62 of 108
Unlike Microsoft's Windows software - which most netbooks currently use - Android is free. And it runs on chips that use ARM
architecture, which are made by companies other than Intel. As the WSJ reported in April, Hewlett-Packard has been looking at
Android for possible future netbooks.
So it was with interest that we saw a press release this morning from a software company called BSquare, which said it's coming up
with a system to use certain Adobe Systems software on heretofore unannounced "Dell netbooks running Google's Android
platform."
There's not much more information in the release, and representatives from Bsquare and Dell didn't immediately return calls
seeking comment.
-For continuously updated news from The Wall Street Journal, see WSJ.com at
http://wsj.com
. [ 05-06-09 1403ET ]
Document DJ00000020090506e556000m0
2. Bsquare Corp - To Port Adobe Flash Lite On New Google Android Netbook For Dell
498 words
6 May 2009
19:53
Market News Publishing
English
Copyright 2009 Market News Publishing Inc. All Rights Reserved
BSQUARE CORP ("BSQR-Q") - To Port Adobe Flash Lite On New Google Android Netbook For Dell Bsquare Corporation, the
leading software solutions provider to the global embedded device community, announced it is porting Adobe's Flash Lite 3.17
technology onto Dell Netbooks running Google's Android platform.
Adobe is a leader in rich internet and user interface technology for mobile devices. Flash technology ships on over 800 million
devices worldwide with more than one million designers and developers using Adobe Flash to build video and rich media
applications.
Netbook and Nettop computers offer the functionality and efficiency of traditional laptops, but with lighter weight and better
portability. Research firm Gartner estimates that worldwide shipments of netbooks will increase by 50 percent to 7.8 million units in
2009, while overall computer sales are expected to decline. Industry analysts also predict that Android will gain traction on smart
devices, such as the ultra-portable Dell Mini Inspiron 910, which are used in a range of industries.
"Integrating Adobe Flash technology with the functionality of Google's Android platform on the full range of Netbook devices will
allow our OEM customers to meet the high expectations their customers have of this new industry segment," said Bsquare's CEO
Brian Crowley. "As the Netbook and Nettop market segments expand, our Adobe Flash Lite port to Android is just one of the
software products we will offer our OEM and ODM customers."
In the last 12 months since its acquisition of NEC America's Adobe Flash Technology Consulting and Distribution business,
Bsquare has worked on over 40 different customer devices including handsets, set top boxes, digital signage, consumer devices
and netbooks. Bsquare has built an Android competency in its professional engineering services group through customer
engagements and by hiring top talent in the field.
About Bsquare
Bsquare is an industry leader with a proven track record in providing engineering services and production-ready software products
for the smart device market. Since 1994, Bsquare has provided device manufacturers with software solutions for personal
navigation devices, point-of-sale terminals, handheld data terminals, smart phones and many other device categories allowing them
to get to market more quickly and cost effectively. Bsquare acquired the TestQuest testing automation tools in November 2008. The
combination of TestQuest's testing automation products and Bsquare's industry leading software and hardware products and
services offer the best of class device development solutions to the embedded and mobile device development community. Now
device developers building consumer mobile or vertically targeted embedded devices can rely on the highest quality development
expertise from Bsquare, plus the most feature rich testing automation tools from TestQuest, to accelerate their devices to market
while minimizing development costs and errors. For more information, visit
www.bsquare.com
______________________________________ _______________________________________________
____________________________________________________________ (c)2009 Market News Publishing Inc. All rights reserved.
Page 63 of 108
Toronto:(416)366-8881 Vancouver:(604)689-1101 Fax:(604)689-1106
0912500780FAC0912502484-10533420090506
Document MNEWSP0020090506e556005ke
3. / KILL - Bsquare Corporation
62 words
06-May-2009
Market Wire
English
(c) Copyright 2009 Market Wire, Inc.
BELLEVUE, WA -- (MARKET WIRE) -- May 06, 2009 -- Editors and other readers are advised to disregard the news release with
the headline, "Bsquare to Port Adobe Flash Lite on New Google Android Netbook for Dell," issued earlier today by Bsquare
Corporation (NASDAQ: BSQR). The release was issued in error.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Document ITWR000020090506e556005se
4. Palm Pre to Arrive in Canada on Bell Mobility Network

1794 words
6 May 2009
15:00
Canada NewsWire
English
Copyright © 2009 Canada NewsWire Ltd. All rights reserved.
TORONTO, May 6 /CNW/ -- TORONTO, May 6 /CNW/ - Palm, Inc. (NASDAQ: PALM) today announced that Palm Pre(TM), the first
phone based on the new Palm(R) webOS(TM) mobile platform, will debut in Canada exclusively on Bell Mobility's 3G high-speed
mobile network in the second half of 2009.(1)
"We're excited to bring Pre to Canada with Bell Mobility," said Brodie Keast, senior vice president of marketing for Palm, Inc. "We've
seen enormous interest from mobile operators worldwide and fully expect to continue to expand distribution for Pre, putting it within
reach of more and more customers."
Palm webOS is invented exclusively for mobile use. It's the first mobile platform to automatically bring your information from the
many places it resides - on your phone, at work or on the web - into one simple, integrated view.(1) The new Palm Pre and webOS
are designed to be so in sync with your needs that it feels like Pre is thinking ahead for you.
Pre has a breakthrough user interface and hardware design that makes it the most integrated and user-friendly mobile phone.
Featuring a smooth, rounded ergonomic design and a physical keyboard that slides out only when needed, Pre is engineered to feel
natural in your hand and comfortably small in your pocket. When closed, Pre is ideal for phone calls, web browsing, music, photos
and videos; when open, Pre is optimized for email and text messaging. It provides an exceptional experience for phone calls,
whether held to your ear, over speakerphone or via Bluetooth. With its curved slider and gesture-controlled touch interface, Pre
fuses exquisite design with the revolutionary webOS software for fast access to content on the device or web. It's an instinctive user
experience that seems to anticipate your needs.
"Bell is excited to be only the second carrier in the world to announce the 3G Pre," said Adel Bazerghi, senior vice president of
Products for Bell Mobility. "With the unique user experience of the world's first webOS phone, running on the country's largest 3G
network, we're confident that Canadians will embrace Pre as the phone for their lives today."
<<
Your Life, Brought Together
---------------------------
>>
Palm webOS introduces Palm Synergy(TM), a key feature of the new platform that brings your information from all the places it
resides into one logical view. You don't have to worry about tracking multiple calendars, contacts and messaging applications -
Page 64 of 108
Synergy seems to think ahead to bring you a more comprehensive and truly representative view of your life.
<<
- Linked contacts - With Synergy, you have a single view that links
your contacts from a variety of sources, so accessing them is easier
than ever. For example, if you have the same contact listed in your
Outlook(2), Google and Facebook accounts, Synergy recognizes that
they're the same person and links the information, presenting it to
you as one listing.
- Layered calendars - Your calendars can be seen on their own or

layered together in a single view, combining work, family, friends,
sports teams, or other interests. You can toggle to look at one
calendar at a time, or see them all at a glance.
- Combined messaging - Synergy lets you see all your conversations with
the same person in a chat-style view, even if it started in IM and
you want to reply with text messaging. You can also see who's active
in a buddy list right from contacts or email, and start a new
conversation with just one touch.
Your Information, Effortlessly

------------------------------
By smartly integrating your information, webOS is designed to think ahead

for you and keep you on top of the things that happen in your life, but that's
just the first step. The platform's unique interface brings your information
to you with the ease that only Palm can offer.
- Run multiple applications at the same time - Palm's revolutionary

webOS lets you manage multiple activities more effectively than any
other mobile platform today. It lets you keep multiple activities
open and move easily between them like flipping through a deck of
cards. You can rearrange items simply by dragging them; when you are
done with something, just throw it away by flicking it off the top of
the screen. (3)
- Web-connected applications - Applications are seamlessly connected to

the web and always active(3), ensuring you have the most up-to-date
information.
- Universal search - Finding what you need is easy with universal

search - as you type what you're looking for, webOS narrows your
search and offers results from both your device and the web.(4)
- Intuitive and unobtrusive notifications - When important things come

up or new updates arrive, you'll receive notifications with a
diplomacy that's a radical departure from other mobile platforms. For
example, if you receive a text message or email, a scrolling
notifications bar at the bottom of your screen lets you address it
right away or leave until later. webOS alerts are one step ahead,
ensuring that you never miss a thing, but never lose your place or
train of thought.
Palm Pre Features
Page 65 of 108
-----------------
- 3G EVDO Rev. A high-speed connectivity

- Integrated GPS(5)
- Large 3.1-inch touch screen with a vibrant 24-bit color 320x480
resolution HVGA display
- Gesture area, which enables simple, intuitive gestures for navigation
- Slide-out QWERTY keyboard
- Email, including Outlook EAS (for access to corporate Microsoft
Exchange servers), as well as personal email support (POP3, IMAP)
- Robust messaging support (IM, SMS and MMS capabilities)(3)
- High-performance, desktop-class web browser
- Great multimedia experience and performance (pictures, video
playback, music), featuring a 3-megapixel camera with LED flash and
extended depth of field, and a standard 3.5mm headset jack
- Bluetooth(R) 2.1 + EDR with A2DP stereo Bluetooth support
- 8GB internal memory (~7GB user available)(6)
- USB mass storage mode
- MicroUSB connector with USB 2.0 Hi-Speed
- Proximity sensor, which automatically disables the touch screen and
turns off the display whenever you put the phone up to your ear
- Light sensor, which dims the display if the ambient light is dark,
such as at night or in a movie theater, to reduce power usage
- Accelerometer, which automatically orients web pages and photos to
your perspective
- Wi-Fi 802.11 b/g(7)
- Ringer switch, which easily silences the device with one touch
- Removable, rechargeable battery
- Dimensions: 59.57mm (W) x 100.53mm (L, closed) x 16.95mm (D)
- Weight: ~135 grams
>>
An array of compelling accessories also will be available for Pre, including the first inductive charging solution for phones (sold
separately). Simply set Pre down on top of the elegantly designed Palm Touchstone(TM) charging dock without worrying about
connection, orientation or fit. Pre is active while charging, so you can access the touch screen, watch movies or video, or use the
speakerphone.
<<
Availability and Pricing
------------------------
>>
Palm Pre is scheduled to be available in Canada exclusively from Bell Mobility in the second half of 2009. Bell Mobility's pricing for
the phone has not yet been determined.
Customers who would like to register to receive additional information about Pre and be notified when it's available can register at
www.palm.com/ca
or Bell.ca/pre.
<<
About Bell
----------
Page 66 of 108
>>
Bell is Canada's largest communications company, providing consumers with solutions to all their communications needs including
Bell Home Phone local and long distance services, Bell Mobility and Solo Mobile wireless, high-speed Bell Internet access, Bell TV
direct-to-home satellite and VDSL television, and IP-broadband and information and communications technology (ICT) services.
Bell is proud to be a Premier National Partner and the exclusive Telecommunications Partner to the Vancouver 2010 Olympic and
Paralympic Winter Games. Bell is wholly owned by BCE Inc. For information on Bell's products and services, please visit
www.bell.ca. For corporate information on BCE, please visit www.bce.ca
<<
About Palm, Inc.
----------------
>>
Palm, Inc. is a leading mobile products company, creating instinctive yet powerful mobile products that enable people to better
manage their lives on the go. The company's products for consumers, mobile professionals and businesses include Palm(R)
Treo(TM), Pre(TM) and Centro(TM) phones, as well as software, services and accessories.
Palm products are sold through select Internet, retail, reseller and wireless operator channels throughout the world, and at Palm
online stores (
http://www.palm.com/store
).
More information about Palm Canada, Inc. is available at
http://www.palm.com/ca
<<
NOTE TO EDITORS: Multimedia materials, including photos and video, are
available at www.palm.com/MeetPre or from Laura Butcher (lbutcher@
environicspr.com) at Environics Communications for Palm Canada.
Please add the tag No.PalmNo.Pre to your tweets or "PalmPre" to your blog
posts about the Palm Pre phone, and follow Palm on Twitter at
www.twitter.com/palm_inc.
-------------------------------
(1) Use of this device requires providing a valid email address, mobile
phone number, and related information for account setup and
activation. Unlimited usage data plan strongly recommended;
additional data charges may apply. Within wireless coverage area
only. Number of applications and actual performance will vary
depending on applications used and actions performed.
(2) Within wireless coverage area only. Requires data services at
additional cost. Microsoft Direct Push Technology requires Microsoft
Exchange Server 2003 with SP2 or Exchange Server 2007. Additional
fees may apply.
(3) Within wireless coverage area only. Use of some third-party web
applications may impact performance.
(4) Searches web and user's applications, contacts, and dialing
information. Web search within wireless coverage area only, requires
data services at additional
Page 67 of 108
cost.
(5) GPS requires data services at additional cost. Coverage not available
in all areas at all times.
(6) Storage estimate subject to change based on system software and
application usage.
(7) Within range of 802.11b/g Wi-Fi network. Some Wi-Fi hotspots require
fee for usage.
>>
Palm, webOS, Pre, Synergy, Touchstone, Treo and Centro are among the trademarks or registered trademarks owned by or
licensed to Palm, Inc. All other brand and product names are or may be trademarks of, and are used to identify products or services
of, their respective owners.
<<
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
the CNW Photo Network and archived at
http://photos.newswire.ca
.
Additional archived images are also available on the CNW Photo Archive
website at
http://photos.newswire.ca
. Images are free to accredited

members of the media/
>>
MEDIA CONTACTS: Laura Butcher, Steve Acken, Environics Communications for Palm Canada, (416) 969-2766, (416) 969-2710,
lbutcher@environicspr.com, sacken@environicspr.com; Julie Smithers, Bell Media Relations, (416) 528-9409,
julie.smithers@bell.ca
200905060900CANADANWCANADAPR_C8868.xml
Document CNNW000020090506e556001xn
5. Sigma Systems Defines Needs of Next-Generation Operators at Management World 2009
829 words
6 May 2009
14:00
PR Newswire (U.S.)
English
Copyright © 2009 PR Newswire Association LLC. All Rights Reserved.
OSS Leader Redefines Service Provider Model & Outlines Fulfillment Strategies, Solutions for Service Transformation
NICE, France, May 6 /PRNewswire/ -- Sigma Systems, an industry leader in Advanced IP Service Fulfillment solutions, announced
today that it is committed to helping Communications Service Providers evolve into Next-Generation Operators (NGOs), so they can
succeed in today's rapidly changing communications marketplace.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20090302/PH77214LOGO
According to Sigma Systems, the communications industry is undergoing a paradigm shift that is challenging the definition of
Communications Service Providers (CSPs) and forcing traditional voice telecommunications service providers to reinvent
themselves to remain competitive. To be successful in this evolution, operators must undergo service transformation in order to
rapidly introduce new services and service bundles; increase ARPU; and reduce operations costs.
Sigma Systems will be discussing the emergence of Next-Generation Operators and the importance of service transformation for
these operators this week at Management World Nice 2009. Sigma has used its service transformation expertise to help several of
its customers roll out multi-play offerings, including video, broadband, VoIP, mobile, and business services.
Defining the Next-Generation
Page 68 of 108
Operator
In today's communications marketplace, a number of drivers are impacting the emergence of the NGO. These factors include:
-- Traditional voice carriers now offer more complex and diverse services,
including IPTV, mobile, and video on demand.
-- Aggressive market-share grabs in residential and business voice by cable

operators.
-- The emergence of non-communications companies, such as Google and eBay,

as competitive carriers for SMB voice services.
-- Roll-outs of new services through investments in infrastructure or

acquisitions, such as mobile carriers buying landline providers, telcos
acquiring cable providers, or cable providers launching mobile services.
"While telco service providers and cable MSOs historically have had different network infrastructures, Next-Generation Operators
have similar needs at the service and customer layers -- the need to eliminate technology and service silos in order to provide
converged, multimedia services; and the need to provide an excellent and personalized customer experience," said Martina Kurth,
Research Director within Carrier Operations & Strategies at Gartner. "Operations Support Systems must address these fundamental
Next-Generation Operator requirements."
The Importance of Service Transformation for NGOs
Sigma Systems believes that any discussion of NGOs is incomplete without addressing the need for service transformation through
best-of-breed service fulfillment and management solutions. By moving services out of a silo-based environment and onto a single
services platform, the Next-Generation Operator is better positioned to quickly deploy new services, create non-traditional bundles
and identify up-sell opportunities.
"OSS must now support the Next-Generation Operator's need for a federated view of the subscriber -- including subscribed
services, devices used, location, and preferences -- in order to provide personalized services that will increase retention and ARPU
in today's highly competitive environment," said Preston Gilmer, vice president of Product Marketing at Sigma Systems.
"Furthermore, capabilities that measure bandwidth usage, such as Sigma's Active Mediation Platform, also better equip NGOs to
address arising market challenges, while providing crucial business intelligence needed to effectively manage the increasing
demands on their networks."
According to Sigma Systems, service transformation will have the following benefits for NGOs:
-- Increased Profitability and accelerated time-to-revenue by deploying

residential and business services faster and delivering innovative
service bundles
-- Increased Productivity through automated provisioning and activation of

voice, video, data, and wireless services
Page 69 of 108
-- Increased Customer Satisfaction resulting from reliable service

fulfillment, reduced order fall out, and self-service portals
-- Reduced Operations Costs realized by removing silos, automating

processes, and eliminating unnecessary manual tasks
-- New Business Models, including advanced advertising and usage-based

services
For more information on the impact of Sigma's service transformation solutions on the Next-Generation Operator, please contact
Francis Hopkins at francis.hopkins at sigma-systems.com.
About Sigma Systems
Sigma Systems is the proven global leader in delivering advanced IP service fulfillment solutions. Sigma's powerful solutions enable
the world's Communications Service Providers (CSPs) to Deliver a Rich Consumer Experience through communications and
entertainment services--over any access technology to any device. The company's award-winning solutions include order
management, provisioning and activation, and active mediation of residential and business VoIP, and Triple, Quad and All-Play
services. CSPs around the globe -- including Cox, Technology Networks (formerly @NetHome) and Rogers -- trust Sigma for
business transformation and innovative solutions with market-leading expertise for the delivery of today's--and tomorrow's--new
services. For more information about Sigma, visit
http://www.sigma-systems.com
SOURCE Sigma Systems
Francis Hopkins of Sigma Systems, +1-240-472-1724, francis.hopkins@sigma-systems.com, or Juliet Shavit, SmartMark

Communications, LLC for Sigma Systems, +1-215-504-4272, jshavit@smartmarkusa.com
200905060800PR_NEWS_USPR_____PH11276.xml
http://www.newscom.com/cgi-bin/prnh/20090302/PH77214LOGO
|
http://photoarchive.ap.org
| PRN Photo Desk, photodesk@prnewswire.com
Document PRN0000020090506e556003v7
New Products/Services
1. Science and Technology; TECHTONIC SHIFTS
Number Crunching Made Easy; Cloud computing is making high-end computing readily available to researchers in rich
and poor nations alike.
By Christopher Werth
921 words
18-May-2009
Newsweek International
May 11-18, 2009; ; International Edition
0
Volume 153, Number 20, ISSN 0163-7053
English
Copyright (C) 2009 Newsweek Inc. All Rights Reserved.
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A dwindling water supply spells disaster for the residents of Brazil’s arid Northeast, who live by subsistence agriculture. Droughts
have become longer and more frequent, and every year more families set off for the urban slums. Predicting how rainfall patterns
will shift in a few years and how it will affect aquifers and agricultural output has become an urgent task. Civil engineers need to
know where to build reservoirs and how much water they should hold. But this kind of local climate modeling requires a lot of
number crunching, and supercomputers are rare in these parts.
To get around this hurdle, a group of universities and government labs, called SegHidro (which means “water security”), pooled the
computing resources in labs scattered throughout the country. Using software called OurGrid, they adapt global climate models to
local conditions, parceling out pieces of the massive job to little computers in the network. This kind of collaboration is getting a big
boost from new so-called cloud-computing services from Amazon, Google and Microsoft. By driving down the cost of scientific
computation, it promises to be a boon to researchers in rich and poor nations.
Distributing big research computing tasks via the Web isn’t new—for years scientists have been divvying up projects among global
networks of volunteers who make their PCs available for data crunching. But setting up these arrangements is still costly and
cumbersome, and requires computer expertise. This means that a lot of worthy but little-known projects—such as research on
specific strains of antiretroviral-resistant HIV found only in parts of Africa and South America, or the type of local climate modeling
that SegHidro carries out—have fallen by the wayside. Cloud computing, though, is beginning to put the power of big data centers
at the fingertips of anybody with a Web browser.
Cloud computing has some attractive qualities for scientific researchers. It delivers data storage and processing as a service, rather
than software that’s loaded onto a hard drive, or something that sits on a desk somewhere. Information is held on massive data
centers spread all over the world, and available upon request. In the cloud, the “supercomputer” exists virtually, meaning no clunky
hardware; the software interface is easy to use; and scientists have access to their data and simulations from just about anywhere
by simply logging in. Amazon has been leading the way in on-demand computing for the past decade, invaluable for organizations
with large databases that don’t necessarily want to hire an IT department. The service is flexible and pay-as-you-go. An hour will set
you back 80 cents, or as little as 10 cents per gigabyte. Subscribers buy only what they use, which is ideal for research departments
that face periodic peaks in the computational power they require.
The cloud is already making high-performance computing more readily available to researchers in the developed world. The
Nimbus project at the Argonne National Laboratory in Illinois has developed open-source software that can launch a virtual
supercomputer within minutes on Amazon’s Elastic Compute Cloud. Earlier this month, nuclear physicists at the Brookhaven
National Laboratory in New York used the service to rush through a set of new simulations on data from the lab’s Relativistic
Heavy-Ion Collider—set up to give a glimpse into what the universe may have looked like in its first few moments—rather than
waiting weeks or months for a slot to open up on the lab’s big computers. The innovation could have a profound effect: simplifying
and speeding up research in everything from renewable energies to drug testing.
The developing world stands to gain from the same benefits. Using the cloud, labs can forgo the cumbersome process of linking
hundreds, if not thousands, of desktops—or add more muscle to the networks they already have. “Cloud computing promises to be
the next big wave in computing democratization,” says Dan Reed, director of Microsoft’s Cloud Computing Futures. “Researchers in
developing countries can access the same data and use the same computing infrastructure as researchers in [developed]
countries.”
But clouds still have a way to go before they’re widely accepted. To start, they must earn the trust of researchers, who may think
twice about loading all their information onto the Web. (What if it’s all lost?) In addition, the services are still too expensive for many
developing nations. Even mere pennies per gigabyte can quickly add up, especially for labs with very little to begin with. A row
broke out recently over the issue of accessibility. Big players like Google, Microsoft and Amazon refused to sign on to the Open
Cloud Manifesto, developed by a consortium of technology firms, which has tried to define the cloud as a public resource for
everyone’s benefit, to be given over to philanthropic causes wherever possible.
Researchers, though, may not have to wait for a manifesto. Prices will eventually drop, and cloud operators could make their own
special arrangements for customers with large workloads, or with those from countries most in need. The UK’s Hadley Centre for
Climate Prediction and Research, for instance, is now in negotiations with Amazon to sponsor a West African researcher for free
access to their cloud computing services. The cloud is already being used to bridge the digital divide.
Document NEWI000020090504e55i00013
2. TECHNOLOGY: DISCOVER - DECIPHER - DISRUPT; LOOKING OUT FOR NO. 2
Who's on Deck in Tech?
Jessi Hempel
774 words
11-May-2009
Fortune
37
Volume 159; Issue 10; ISSN: 00158259
English
© 2009 Time Incorporated. Provided by ProQuest Information and Learning. All Rights Reserved.
Apple's Steve Jobs isn't the only chief executive apparently without a concrete plan for passing the torch. Surprisingly few
technology CEOs have anointed heirs.
LAST YEAR WHEN APPLE CEO Steve Jobs showed visible signs of illness at public speaking events, the company's stock began
Page 71 of 108
to gyrate unpredictably. When Jobs unexpectedly spoke on the company's fourth-quarter earnings call, the stock rose 12% in part
because he simply showed up. When he canceled his MacWorld appearance, Apple shares plunged 7%. Investors worried that
Jobs might step down. Could anyone replace him? Apple has never announced a succession plan publicly, although chief operating
officer Tim Cook is running Apple while Jobs is on medical leave. And like Apple, most tech companies remain mum on the subject
of CEO succession. Few of the biggest names in tech, from Cisco to IBM to Oracle, have clear-cut heirs to their CEOs; most don't
even have publicly designated second-in-command executives who would be ready to take over should their chiefs fall ill or resign
unexpectedly. Indeed, none of the big tech companies we contacted would comment for this story.
Executive recruiters say Silicon Valley companies have always been more nonchalant about passing the torch than, say, banks or
manufacturers because they tend to be younger companies, often helmed by their charismatic founders. But it isn't unprecedented
for a tech entrepreneur to have a strong wingman: Microsoft's Bill Gates tapped Steve Ballmer as his No. 2 long before stepping
down as CEO in 2000 (In some cases the founders may end up as future CEOs: Google co-creator Sergey Brin could be a
contender to run the company when current chief Eric Schmidt steps down.)
Sure, founders generally have a hard time letting go even when their departures are expected. Dell founder Michael Dell
handpicked Kevin Rollins, president and chief operating officer, as his successor in 2004, only to replace him when the company
lost its lead in PC market share to rival Hewlett-Packard. Today Dell has no president or operating chief, and analysts believe the
board may look to an outsider to run things if sales continue to lag.
The founder factor may explain why Oracle's 64-year-old creator and CEO, Larry Ellison, has been reluctant to announce a
successor. (In fact, Oracle has two presidents, Safra Catz and Charles Phillips, who could step into the top job if Ellison
unexpectedly retired.) But what's Sam Palmisano's excuse? Who is John Chambers' No. 2? IBM is known as a training ground for
future CEOs, yet Palmisano, who took over in 2003, doesn't have a main lieutenant. Cisco, which Chambers runs, has over the
years bid farewell to a few executives who were considered successors, including Joost CEO Mike Volpi. But none of the
company's five executive vice presidents jump out as Chambers' successor.
Of course, just because those CEOs haven't named successors doesn't mean they're not planning for the future. And while
corporate governance experts urge companies to be transparent about their executive succession plans, a CEO may have one very
good reason for declining to name his replacement. (No, not ego, though that's clearly a factor.) Once a company designates an
heir, all the talented executives who were eyeing the CEO-in-waiting title might simply leave.
The Next Generation of Tech Chief Execs?
None of these sitting CEOs are planning to retire, but Steve Jobs' health woes got us thinking about potential heirs in the sector.
[This article contains a table. Please see hardcopy of magazine or PDF.]
[PULLQUOTE]
THE FOUNDER FACTOR MAY EXPLAIN WHY ELLISON IS LOATH TO NAME HIS NO. 2.
See also additional image(s) in Table of Contents of same issue.

SPECIAL REPORT: How Bernie Did It | Copyright (c) 2009 Time Inc. All rights reserved. No part of this material may be duplicated
or redisseminated without permission. | Jessi Hempel |
[ROBERTO PARADA]; A NEW REIGN? AN ARTIST IMAGINES GOOGLE CEO ERIC SCHMIDT (RIGHT) BEQUEATHING HIS
TITLE TO CO-FOUNDER SERGEY BRIN.; ILLUSTRATION | | [JOBS: PEER GRIMM--DPA/CORBIS]; PHOTO | | [COOK:
COURTESY OF APPLE]; PHOTO | | [DELL: JHSB--CHINAFOTOPRESS/GETTY IMAGES]; PHOTO | | [SCHUCKENBROCK:
QILAI SHEN--BLOOMBERG NEWS/LANDOV]; PHOTO | | [HURD: DAVID YELLEN]; PHOTO | | [BRADLEY: DAVID YELLEN];
PHOTO | | [LIVERMORE: DAVID YELLEN]; PHOTO | | [PALMISANO: KEVIN DIETSCH--UPI/LANDOV]; PHOTO | |
[OTELLINI: ROBYN BECK--AFP/GETTY IMAGES]; PHOTO | | [IMALONEY: JOCHEN SIEGLE--DPA/LANDOV]; PHOTO | |
[ELLISON: JUSTIN SULLIVAN--GETTY IMAGES]; PHOTO | | [CATZ: PAUL SAKUMA--AP]; PHOTO | | [PHILLIPS: JIM
YOUNG--REUTERS/LANDOV]; PHOTO | | [TWO PHOTOS] | | [SIX ILLUSTRATIONS] |
Document FORTU00020090430e55b0000a
3. General News
Picks of the pack
John Davidson
218 words
07-May-2009
BRW (Abstracts)
36
English
Copyright 2009 Media Monitors Australia Pty Ltd. All Rights Reserved
The latest smart phones seek to combine technology with affordability, and the Samsung i617T is the cheapest
Microsoft-compatible mobile device on the market - as promoted by Telstra through a two-year, $30-a-month voice plan. The i617T
features HSDPA broadband and can be synchronised with email services such as Hotmail.
Rival Nokia is promoting the new E63 as a budget product against its top-of-the-line E71 - which has more multimedia functionality,
head of product development Matt Gaskell explains. Gaskell says previous Nokia releases with the Symbian operating system are
even cheaper than the E63.
The BlackBerry Curve 8900 leans more towards the premium end of the market with a price-tag of $1000, although it is still much
cheaper than the BlackBerry Bold. The Curve has slower data speed - meaning more patience is required when accessing the likes
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of Google maps or Facebook - but most of the functions are the same as the pricier model.
Palm’s new entry is the Pre, based on its proprietary webOS software - an alternative to Google’s Android. The Palm Pre will be
released in the United States in coming months, with any Australian release dependent on its popularity in North America.
HSDPA, Microsoft, Nokia, Samsung, Telstra, Google, Palm, BlackBerry

Document BRW0000020090507e5570002u
4. Corporate News: Dell Studies Google's Android for Future Products
By Justin Scheck
346 words
07-May-2009
The Wall Street Journal
B4
English
(Copyright (c) 2009, Dow Jones & Company, Inc.)
Dell Inc. is studying Google Inc.'s Android operating system for possible use in future products, people familiar with the situation
said.
A small Bellevue, Wash., company on Wednesday touched off speculation about the topic, issuing a press release that stated it is
working on software for a Dell netbook, or mini-notebook PC.
The release said the company, Bsquare Corp., had developed a way to use Adobe Systems Inc. video software on "Dell netbooks
running Google's Android platform."
A Bsquare spokeswoman subsequently said the announcement was "issued in error," as did a spokesman for Dell. Neither would
discuss the possibility of a Dell netbook running on Android.
But the Dell spokesman said the company is constantly assessing technology options. And people familiar with the situation said
the company has studied the use of Android for netbooks as well as pocket-sized computers that are sometimes called MIDs, for
mobile Internet devices.
A Hewlett-Packard Co. executive said earlier this year that his company was studying the use of Android on some netbooks.
Netbooks are a fast-growing category of small portable PCs that cost less than $500.
Android and other operating systems derived from Linux have been used on a number of netbooks, in large part because they are
typically available for free.
Manufacturers have been looking for ways to reduce their costs as netbook prices fall, making versions of Microsoft Corp.'s
Windows operating an expensive option for some models. Android is not the only alternative to Windows being considered by
netbook makers. Some companies now use a Linux version called Ubuntu. Intel Corp., whose Atom chip is used in most netbooks,
has been backing another Linux variant called Moblin.
Intel and software maker Novell Inc. on Thursday plan to announce a collaboration to promote the use of Moblin.
A Google spokeswoman said Android "was designed from the beginning" to be usable in "netbook-style devices."
---
Don Clark contributed to this article.
License this article from Dow Jones Reprint Service
Document J000000020090507e5570003j
5. iPhone, iPod Touch Get Organized With Bento
299 words
06-May-2009
CMP TechWeb
English
Copyright ©2009 United Business Media LLC. All rights reserved.
FileMaker on Tuesday launched an iPhone and iPod Touch version of its Bento personal database for the Mac.
Like the larger application, the new version offers templates that people can easily configure to organize data ranging from photos,
contacts, and calendar information to spreadsheets and documents. The application includes 25 prebuilt templates for organizing
information, and also works with data already in applications on the Apple devices, such as contacts, the Safari browser, e-mail, and
Google maps.
The software can synchronize with the Mac version to keep desktop and mobile data up to date. However, the iPhone version is a
standalone application and doesn't need the desktop version. The synchronization requires Bento 2.0v4 or later on the Mac.
The latest Mac version, also released Tuesday, has an iTunes-like device list that shows the iPhone. Like choosing playlists to sync
the iPhone and iPods with iTunes on a Mac or PC, people choose which database on the iPhone and iPod Touch they want to
synchronize with their Mac.
Bento for iPhone costs $5 and is available through the Apple App Store. The Mac version costs $49.
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FileMaker in January released FileMaker Pro 10, which marked a comeback attempt by the vendor on the Windows desktop.
FileMaker Pro consistently has been the preferred database of Mac users, but has been a distant second on Windows PCs to
Microsoft's Access.
The first upgrade since July 2007, FileMaker Pro 10 boasts a slick new user interface that offers three different views of data simply
by clicking on one of three closely grouped icons: form, list, or table.
Learn more about mobile business computing at TechWeb's Mobile Business Conference & Expo in Las Vegas, May 17-21. Join us
(registration required).
Document CMPT000020090507e5560000i
Legal/Judicial
Legal/Judicial
1. News
Libraries urge oversight of Google books; Protect privacy, preserve access, groups say
By Alex Pham Tribune Newspapers

435 words
06-May-2009
Chicago Tribune
Chicagoland Final
23
English
Copyright 2009, Chicago Tribune. All Rights Reserved.
Three organizations representing 139,000 libraries have asked the judge overseeing Google's settlement with authors and
publishers to make sure the company does not violate the privacy of readers who would use its vast digital books collection.
They also petitioned U.S. District Judge Denny Chin on Monday to ensure that Google does not set the price for access to its digital
books "beyond the reach of many libraries."
The organizations, which include the American Library Association, the Association of College and Research Libraries and the
Association of Research Libraries, said they were not opposed to the settlement, which was reached in October between Google
and the Association of American Publishers and the Authors Guild.
"The Settlement has the potential to provide unprecedented access to a digital library containing millions of books," the library
groups said in a letter to the court. "But in the absence of competition for the services enabled by the Settlement, this impact may
not be entirely positive. The Settlement could compromise fundamental library values such as equity of access to information,
patron privacy, and intellectual freedom."
The proposed settlement, which requires court approval, would create a books registry to keep track of copyrights and dole out
money based on how Google profits from digitized books.
As of November, Google had scanned about 8 million books through a partnership with libraries. In exchange, Google has promised
to give each library a single free terminal for patrons to read the books but not print or copy any of the works. For broader access,
libraries would have to pay an institutional subscription fee that has not been determined.
Many librarians also fret about the effect the settlement would have on free access, a fundamental value of libraries.
"To digitize collections and sell products in ways that fail to guarantee wide access ... would turn the Internet into an instrument for
privatizing knowledge that belongs in the public sphere," Robert Darnton, director of the Harvard University Library, wrote in an
essay titled "Google & the Future of Books."
Other organizations have expressed concerns over a perceived lack of competition and Google's domination of a digital book
market.
The Internet Archive in San Francisco, which scans books whose copyrights have lapsed and makes them available online for free,
contends that the settlement would give Google an unfair advantage in being able to digitize millions of "orphan books," titles that
are still protected under copyright but whose rights-holders cannot be located or determined.
NATION & WORLD

Document TRIB000020090506e5560001q
2. Supreme Court prospects' stock holdings could pose conflict-of-interest problems for cases
By SHARON THEIMER
Associated Press Writer
1196 words
6 May 2009
09:10
English
Page 74 of 108
WASHINGTON (AP) - Some Supreme Court prospects have extensive corporate holdings, including shares in Fortune 500
companies such as General Electric and Microsoft and stock in a manufacturer that recalled lead-paint-coated "Flush & Sounds
Potty" toilet seats.
Since businesses often land in court, a case involving a company in which a justice has financial ties could be trouble. If chosen for
the high court, some potential nominees might have to step aside from certain cases or unload stocks to avoid ethical conflicts
between their official duties and personal financial interests.
Among stocks held by people mentioned as President Barack Obama's possible picks to succeed retiring Justice David Souter:
-- Appellate Judges Diane Wood and Kim Wardlaw have reported they have stakes in Whole Foods Market Inc. The upscale grocer
won permission from a federal appeals court in Washington in 2007 to buy rival organic grocer Wild Oats Markets despite the
Federal Trade Commission's argument that the deal would stifle competition. To settle the commission's claims, Whole Foods
agreed this year to sell several stores.
-- At least five Supreme Court prospects have disclosed stock in Zimmer Holdings Inc., a maker of artificial hips and knees that was
investigated by federal prosecutors over allegations it paid doctors who used the products. Charges were dropped after Zimmer
agreed to pay a fine and undergo monitoring.
-- Wardlaw's holdings have included shares in Microsoft Corp., the software giant targeted by a Clinton administration antitrust
lawsuit; Tyco International Ltd., whose former chief executive and chief financial officer were sentenced to prison for grand larceny,
conspiracy, securities fraud and falsifying business records; and Time Warner Inc., General Electric Co. and The Walt Disney Co.,
whose Hollywood studios are suing RealNetworks Inc. over its DVD-copying software.
Federal judges generally are supposed to avoid taking part in any proceeding in which they have a financial stake, regardless of
how small. In some cases, they may take part if they get rid of the stock in question. Stocks held by mutual funds or common
investment funds don't pose conflicts unless the judge takes part in fund management.
It's not a new problem. Over 24 years, former Justice Sandra Day O'Connor stepped away from more than 700 decisions in which
she had potential financial conflicts. Many others on the court with substantial wealth have opted for blind trusts, mutual funds or
other investment vehicles with fewer dangers of conflict.
Just last year, three justices' stock holdings and the job of another justice's son prevented the court from hearing a case that
accused dozens of businesses of violating international law by assisting South Africa's former apartheid government. The
companies and the Bush administration wanted the court to intervene. Because four of the nine justices sat out, the court's only
option was to uphold an appeals court ruling that let the lawsuit proceed.
Three of the judges could have taken part in the case if they had sold the investments in question. A 2006 law lets federal judges
sell shares of stock and put the money into mutual funds and other investments without immediately having to pay capital gains tax.
Several of those considered in contention for a Supreme Court seat have substantial assets.
Those disclosing Zimmer stock include Wood, a judge on the 7th U.S. Circuit Court of Appeals in Chicago; Merrick Garland, a
federal appeals court judge for the District of Columbia; Sandra Lynch, chief judge of the 1st U.S. Circuit Court of Appeals in
Boston; law professor Cass Sunstein; and Wardlaw, a judge on the 9th Circuit Court of Appeals in Pasadena, Calif. Wardlaw
reported up to $50,000 in Zimmer stock, while Wood, Sunstein and Garland each reported up to $15,000. Lynch didn't give her
stock's value.
Lynch had roughly $7.5 million to $33 million in assets. Corporate stock listed in her financial disclosure report last year included
PepsiCo Inc., Johnson & Johnson, American Express Co., UnitedHealth Group Inc., mining conglomerate Rio Tinto, Google Inc.,
Kraft Foods Inc. and General Electric Co.
Wood reported up to $15,000 in stock in RC2 Corp., an Illinois-based company whose products include toys and child-care
products. Working with the federal Consumer Product Safety Commission, the company in 2007 voluntarily recalled several
products that had lead in the paint, including two styles of its "3-in-1 Flush & Sounds Potty" toilet-training seats and five toys from its
Thomas & Friends wooden railway product line.
Wood reported up to $250,000 in Whole Foods stock and up to $15,000 in Sun Microsystems, which was a top supporter of the
government antitrust case against Microsoft and also filed its own lawsuit that wound up in a federal appeals court in Virginia before
the companies settled. In all, Wood described $2.2 million to $7.2 million in assets in the report she filed last year covering 2007, the
most recent available. The reports allow assets to be valued in broad ranges rather than specific amounts.
Wardlaw, the California appeals judge, disclosed $25 million to roughly $64 million in assets on the financial report she filed in 2007,
the most recent available. Court officials said her 2008 report would not be made available to the AP for several days.
Garland reported roughly $4 million to $11.6 million in assets in his 2008 report, including up to $250,000 each in General Electric
Co. and Procter & Gamble stock, up to $100,000 each in Citigroup and General Mills and up to $50,000 in pharmaceutical
companies Wyeth and Bristol-Myers Squibb.
M. Margaret McKeown, a judge on the 9th Circuit Court of Appeals in San Diego, listed $2.7 million to $7.6 million in assets in her
2008 filing. McKeown's stock included several big names: Apple, Altria, Goldman Sachs, Johnson & Johnson, Kellogg Co.,
McDonald's Corp., Microsoft, PepsiCo., Procter & Gamble, Starbucks and Verizon Communications.
Sunstein, nominated by Obama to head the White House Office of Information and Regulatory Affairs, reported $2.7 million to $7.2
million in assets on a financial disclosure report he filed last month. His holdings include stock in Boeing, AT&T, Exxon Mobil,
General Electric, Procter & Gamble and Johnson & Johnson.
Three others whose names are circulating as possible nominees -- Sonia Sotomayor, a federal appeals court judge in New York;
U.S. Solicitor General Elena Kagan; and Georgia Supreme Court Chief Justice Leah Ward Sears -- do not appear to have extensive
stock holdings, according to their most recent financial disclosure reports.
Little is known about the financial holdings of two governors considered prospects.
Michigan doesn't require Gov. Jennifer Granholm to file an annual report detailing her investments, as federal officials must.
Massachusetts Gov. Deval Patrick does have to produce a personal financial report, but doesn't have to put values on his stock
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holdings.
------
Associated Press writer Mark Sherman contributed to this report.
7
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3. MARK TO MARKET: Another Class-Action Wave Rolls Toward Shore
By Jim Murphy
A DOW JONES NEWSWIRES COLUMN
1251 words
5 May 2009
19:30
Dow Jones Capital Markets Report
English
NEW YORK (Dow Jones)-Unlike me, most of my readers have teeth. That is my opinion. I haven't done the polling yet.
As it happens, the next wave of class-action lawsuits may be intimately involved with the absence of teeth. The odds are good that
this new wave will break on our shores because, after three or four years of dormancy, the news, such as it is, has finally caught up
with ABC-TV's "Good Morning America." When the TV talk shows get ahold of something, it's already over the moon.
The brewing legal storm involves two brands of denture cream - Fixodent made by Procter & Gamble and Poligrip made by
GlaxoSmithKline. Both are publicly traded companies. Even if you have your own teeth, as an investor or potential investor you may
be affected by what follows.
Both Fixodent and Poligrip contain more than trace amounts of zinc. It is alleged that the zinc in these two denture creams leaches
copper from the body and that the absence of this vital element leads to a loss of balance and lack of mobility and feeling in the
extremities.
Procter & Gamble and GlaxoSmithKline say that use of their denture creams, as directed, is perfectly safe and harmless.
Already the subject has attracted the attention of those lawyers who specialize in hosing down big companies and running up high
contingency fees. A woman wrote a letter to the Fayetteville Observer in North Carolina that was published on Saturday. It said: "I
saw a lawyer advertising on TV about denture cream being a health hazard. What's the story with this?"
I told you what the story is. I'll also tell you that "Good Morning America" reported that a lawyer filed suit in New York City last week,
representing five clients who allege they were harmed by using Fixodent or Poligrip. The lawyer said the plaintiffs hope to force
Procter & Gamble and GlaxoSmithKline to put warning labels on their denture creams that using too much of them can result in
neurological damage. To which I respond: Warning labels give me such a thrill/But your labels don't pay my bills.
As it happens, I have used both Fixodent and Poligrip in my 10 years as a resident in the Land of Chopperdom.
About 10 years ago, I began slapping on Fixodent on a daily basis because, one morning while appearing on CNBC, my teeth fell
out. I can't understand why I'm not still on CNBC.
The assertion that, like love, warning labels are all we need, is bogus. Warning labels have never stopped a single lawsuit from
being filed, although they certainly have been the subject of many a jape by stand-up comedians. An example of such a warning
label may be found on many hair dryers: "Warning - Do not use in bathtub."
Responding to the story on "Good Morning America," Procter & Gamble issued a statement that said, in part: "Fixodent users may
ingest a small amount of the product. However, we estimate the amount of zinc a consumer would ingest from daily usage of
Fixodent is less than the amount of zinc in most daily multivitamins and comparable to six ounces of ground beef." GlaxoSmithKline
also said bosh.
Here In Spamalot
I am always amused by spam from men or women I've never met that begins, "Hi, Jim."
However, the snappy salutation is not why I'm going to relate to you the first paragraph of the cover letter from a PR person at
Contos Dunne Communications or the headline and first paragraph of the press release. The following deserves a special section in
the Hooey Hall of Fame:
Subject line and Paragraph One of the "Hi, Jim" letter: "HyTrust Appliance, Community Edition Launches to Enable 'Virtualization
Under Control.' Today, HyTrust launched HyTrust Appliance, Community Edition - a new virtualization 'ecosystem' of users for
information sharing, feedback and interaction, that also delivers members a full-functioning version of the appliance free."
Here's the first sentence of the press release: "Mountain View, CA (May 5, 2009) - HyTrust, Inc. today took the first major step
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toward building a vibrant new community, united by a common goal: Virtualization Under Control."
If you understand the foregoing, you possess what I would call a "niche" intellect.
As the dateline to the press release says, HyTrust is headquartered in Mountain View, Calif. Mountain View is also the home of
Google Inc., which the company calls Googleplex. I wonder if the employees of HyTrust have cafeteria privileges at Googleplex. If
so, they could drop in for a meal of line-caught tuna and relieve themselves for a short while of the turgid ebb and flow of human
software.
Their Fate Is Sealed
Animal-rights activists the world over - including my wife - are hailing a vote Tuesday by the European Parliament to ban products
derived from seals to protest brutal hunting methods.
Canada, where 6,000 fisherman rely upon the seal hunt for a third of their incomes, is expected to file a protest to the ban with the
World Trade Organization, Agence-France Presse reported.
"Ottawa authorized the slaughter of 338,000 seals this year, insisting the hunt does not threaten the species," AFP reported.
"Canada hopes that requiring training for sealers on how to humanely slaughter seals, setting standards for seal products and
taking measures to safeguard the species will silence critics of the hunt."
The news story continued: "The EU ban on pelts used for making bags, hats and gloves and meat, oil and fat adds to those
announced by the United States and Mexico, two of Canada's main trading partners. It does not hit traditional hunters or hunting
conducted on a small scale and controlled under national legislation - notably in Britain, Finland and Sweden - in an effort to protect
fish stocks hit by seals."
In other words, it's OK to club a seal to death if the seal is eating the herring you want to catch.
There is no such thing as humane clubbing of baby seals. That's an oxymoron. Perhaps they should bring along registered nurses
to the ice floes and give the seals lethal injections.
Like most other government initiatives in the EU, it's all posturing. If they're really interested, why don't they ban mink farming in EU
countries and prohibit all imports of mink pelts and other fine furs taken from live animals. This is totally symbolic, and if the
Canadian government really cared about the 6,000 seal fishermen, they would simply give them checks for the 35% of their income
they won't get from clubbing seals to death.
The seal fisherman are my people anyway. Grandpa Murphy was born and grew up in Newfoundland.
(Jim Murphy, resident iconoclast at Dow Jones Newswires and veteran observer of global business trends, can be reached at (201)
938-2145 or by e-mail at Jim.Murphy@DowJones.Com)
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at
TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for
verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to
publish reader comments. [ 05-05-09 1330ET ]
1082 4196
Document CM00000020090505e5550003y
4. WSJ LAW BLOG: Have Apple, Google Boards Gotten Too Cozy With One Another?
409 words
5 May 2009
15:13
English
(This story has been posted on The Wall Street Journal Online's Law Blog at blogs.wsj.com/law/.)
Posted by Ashby Jones
The above question is apparently at the forefront of the minds of trust-busters at the Federal Trade Commission, who are looking
into whether the overlap of directors on the boards of Apple and Google violates antitrust laws.
Google Chief Executive Eric Schmidt and Arthur Levinson, the former chief executive of Genentech, sit on the boards of both
companies. Section 8 of the Clayton Antitrust Act of 1914 prohibits a person's presence on the board of two rival companies when it
would reduce competition between them. The two companies increasingly compete in the cellphone and operating systems
Page 77 of 108
markets.
Turns out that search-engine behemoth Google has become very interesting in recent months to Washington antitrust regulators.
The investigation is the third inquiry regulators have taken up related to Google in the past year. Last fall, the Justice Department
said it would sue to block Google's attempted search-advertising deal with rival Yahoo, citing Google's dominant share in Internet
search and search advertising. More recently, the Justice Department has begun to look into whether Google's proposed settlement
with authors and publishers to gain copyright licenses over millions of digitized works is anticompetitive.
"It appears that Google is now in the sights of the antitrust enforcers," said Samuel Miller, an antitrust lawyer at Sidley Austin in San
Francisco. "Given its recognized dominance, it is going to be subject to greater scrutiny."
The issue of board collusion is rarely pursued, lawyers say, in part because it is difficult to prove the impact of the overlapping
directors. It is also relatively easy to address by resignations from boards.
Spokesmen for Google and Apple declined to comment. Mr. Schmidt and Mr. Levinson couldn't be reached to comment.
Why the FTC is taking up the issue now remains unclear. But one possibility is that Google and Apple, which long dominated
separate sectors, are competing in more areas. Google and Apple, for example, have both developed software for mobile phones.
They also offer competing Web browsers, and are both major players in Internet video, through Google's YouTube site and Apple's
iTunes online store.
http://wsj.com
. [ 05-05-09 0913ET ]
Document DJ00000020090505e555000a7
5. FRONT
LOCKSMITHS BATTLING NEW COMPETITOR ; SOME SAY MADISON LOCKSMITH IS USING UNFAIR PRACTICES, BUT
THE COMPANY DENIES IT.
GEORGE HESSELBERG ghesselberg@madison.com 608-252-6140

1964 words
03-May-2009
The Capital Times & Wisconsin State Journal
ALL
A1
English
© 2009 The Capital Times & Wisconsin State Journal. Provided by ProQuest Information and Learning. All Rights Reserved.
A battle between the established locksmiths of Madison and a brash new locksmith company that uses many names and several
phony addresses, is being fought on the Internet and via dueling complaints. It has driven one small business to near bankruptcy
and it also has caused a push by long-established businesses to license locksmiths in the state.
For consumers, it has exposed a confusing and expensive strategy of carpet-bombing advertising, all in a search to corner the
market on opening locked doors.
Though there are fewer than a couple of dozen working locksmith companies in Madison, a searcher would find hundreds listed in a
Google or Yahoo or Yellow Pages search, many of them located just around the corner or at vaguely familiar addresses.
That familiarity is intentional, critics say. There are multiple listings for the same company using different names.
"These aren't competitors, they're predators," said David Koenig, of Capital Lock, a locksmith and security business located at 1302
Regent St.
Koenig has reason to be wary.
In the past two months his business has been targeted with phony Internet page reviews, been falsely listed for sale on Craigslist
for $50,000 and its night emergency lockout service number has been listed on Craigslist as a sex-service call. A Web listing via
Google was invaded and a telephone number altered. Koenig corrected the number, but did not report the Craigslist pranks to
police.
Untraceable dirty tricks so far, all of them, but Koenig suspects one new business, Madison Locksmith, is behind the campaign, as
do some of Koenig's colleagues.
Joshua Burlin, who is the registered agent for Madison Locksmith and one of three employees, denies any connection with these
and other incidents involving competitors in the past three months.
"We're the most professional locksmithing company in Madison," protested Burlin in a recent interview at the company's two-room
suite in an office building at 6417 Normandy Lane on Madison's West Side. The company registered with the state July 17, last
year, and reported its address on Normandy in February.
"They try to play dirty. We never say anything about the other (companies). They have been here for 30 years and they can't
compete with us," Burlin said.
Aggressive marketing
Page 78 of 108
strategies
Representatives from at least 11 of those established Madison locksmith and security companies met informally at J and K Security
Solutions on Park Street three weeks ago to discuss possible responses to the aggressive marketing strategies that Burlin's
company and others like it present.
Burlin emphatically defends his business plan, which he calls "point of service" and has a heavy Web presence, clogs the listings
with multiple identities and targets emergency lockout customers.
The company advertises 24-hour service and, according to Burlin, uses several names and telephone numbers and addresses in its
listings, including Madison Locksmith, Crazy Larry's, Express Locksmith, 007 Locksmith and 24 Hour Emergency Locksmith.
Similar operations - Madison appears to have at least two others with out-of-state call centers dispatching locksmiths, though they
have not received local attention - have been targeted by consumer protection authorities in at least two states. Warnings from the
Better Business Bureau and numerous consumer offices have gone out nationwide on locksmithing companies that use multiple
phony addresses and listings tailored to convince consumers they are dealing with a local company.
"We're keeping careful track" of complaints and suspicious activities, said Kim Beckmann, co-owner of J and K Security.
During a recent interview, Beckmann pulled out a stack of computer printouts of an ongoing Internet "review" argument on sites that
allow consumers to anonymously review businesses. The Madison locksmith listings have been rendered nearly useless for
comparisons by exaggerated complaints and compliments, a common Internet manipulation. Just as Koenig has ghost competitors
with addresses near his on Regent Street, Beckmann has competitors on Park Street who exist only on the Internet.
Vulnerable customers
The newcomers are ruining the reputation of locksmiths generally by overcharging for services, performing unskilled work and by
preying on people in vulnerable - emergency lockout - situations, Beckmann said.
One customer, Peter Payleitner, was charged $605.57 by Madison Locksmith (also known as Crazy Larry's and several other
names) for work needed to get into his apartment on a sub-zero January night. The lock wouldn't open, it was late and cold. He
Googled for locksmiths and called Madison Locksmith.
"They said it would cost $100 to come out and fix it," he said in an interview and in a complaint he filed with the state Department of
Agriculture, Trade and Consumer Protection.
The man who arrived, "John" or "Shon," said he couldn't open the lock and would have to drill it out and install a new lock, which he
said would cost $100. According to the invoice, Payleitner was charged $125 for the service call, $329 to drill out the lock, $45 for
the new lock and $75 to install it.
He felt intimidated by the worker, who spoke English poorly and "was very confrontational." When Payleitner tried to talk with the
company the following work day to protest the bill, they hung up on him, he said.
After Payleitner appeared briefly on a Channel 15 news report about his and other complaints, Payleitner said he was offered a deal
by Burlin of Madison Locksmith, but only if he would go on camera and recant his entire complaint. He refused.
Burlin's response was there is no law setting prices for locksmithing services, and his company's charges in context are reasonable.
"We provided an emergency service, at an inconvenient time, in sub-zero temperatures and we provided prompt, professional
service," wrote Burlin in response to the DATCP complaint. "The customer signed an invoice agreeing to pay said amount after
services were rendered. Nobody forced or intimidated him to do so. We are willing to work with this customer within reason. Beyond
that, we are the ones being scammed."
'This is marketing'
In an interview and in follow-up e-mail questions, Burlin refused to comment on several aspects of his new business. His partner,
"Shon," who responds to emergency calls, refused to reveal his full name. In criminal court cases in the past three years - one
misdemeanor conviction for cocaine possession and one misdemeanor conviction for theft - Burlin has qualified for a public
defender. He said his is a "local" business without connection to any national company.
Concerning the multiple listings under different names, Burlin contends this is legal, an accepted business practice, and said: "All
this commotion is coming from the competition," he said. "No one at home is disturbed by this. Our point is to respond faster and be
found easier. This is marketing."
The state, however, thinks otherwise, and has issued a warning letter to Burlin because of it.
The availability of multiple Yahoo and Google and AT&T listings, Burlin said, "is why I opened my business. People search on their
I- Phones, if you're not on the Internet then there is no chance of finding you."
Does his company overcharge? "Show me the customer who will testify to that," he demands. (In responses to state investigators,
Burlin has written: "This is not a valid complaint because every company has its prices and our prices are clear. I am sure your
office does not (accept) complaints about Macy's selling $300 sweaters when you can buy a similar one for $20 at Target.") He also
complained, in his reply to state investigators, that "from the moment we opened we have been getting harassing phone calls from
our competition claiming that they would make sure that we will not have any business in town. We did not respond until lately when
their scare tactics and aggressiveness has gotten out of hand."
The DATCP issued a warning letter to Burlin for using false addresses to advertise his company, though administrators there also
reported "it is clear that this is a dispute between two competing businesses. It is not a problem between a consumer and a
Page 79 of 108
business in which the consumer claims harm."
The warning letter says the state believes Burlin violated consumer laws on deceptive advertising "because addresses for various
locksmith business listings are not the real addresses of those businesses."
"You claimed that these addresses represent 'points of service' which you described as places that your mobile services can reach
quickly," wrote James Rabbit, director of the Bureau of Consumer Protection.
"I disagree. Street addresses represent specific points on a map, some of which are occupied by other businesses," he wrote.
The same issue has been the basis of consumer protection lawsuits in other states.
Calls to Madison Locksmith
Locksmith Bill Lehr said Burlin's company has nearly driven him out of business.
Lehr, a locksmith for more than 28 years, moved to Madison with his family seven years ago and took over Lock Doc. He works
alone. His bread and butter is emergency lockout calls, able to respond 24 hours a day. Since new telephone business listings
came out this year, which are repeated on Internet sites, his business has dropped 90 percent. This is because, he said, of the
many list-hogging names and numbers that lead back to one company.
"When I tell people what's happening to me and how, they don't believe me," he said.
"Business dropped from up to 10 callers a day to almost none."
When he tried to find out where so many new businesses came from, he called several different numbers, and "I got the same guy
every time."
He also got a visit from Madison police officer Robert Veatch. Burlin had complained to police - a month after the calls were made -
that Lehr was making harassing phone calls to Madison Locksmith, five calls within five minutes, then three more calls later, all from
Lehr.
Lehr told police that yes, he had made the calls, to check out the competition. Except that in each call he had called a different
telephone number. The officer was not moved. In his report, the officer told Lehr he was investigating why Lehr had called one
business eight times and "if he calls Madison Locksmith again I can write him a citation."
Said Lehr, "I'm not in a financial position to go after these guys," but he has complained about unfair competition to telephone listing
services where he buys advertising.
In another Internet skirmish, Koenig reported that his business, Capital Lock, has a "Google Map presence," which means the
business shows up on Google maps, with business information, including address and telephone number.
Someone went into the Capital "presence" and changed the name to "Express Locksmith," but kept the address and the telephone
number, and added a phone number. Koenig reported he was able, as the business owner, to go back into that presence and
change the information.
A Wisconsin State Journal reporter called the number that had been added to the listing at 1:01 p.m. April 24, with no answer.
Called again one minute later, the phone was answered by Burlin.
Caption: STEVE APPS - State Journal

Locksmith David Koenig holds a lock that was broken by a locksmith
who didn't know how to fix it properly. Koenig and other Madison
locksmiths claim new competitors aren't as skilled, charge too much
and unfairly market their companies.
"These (new companies) aren't competitors, they're predators," said
David Koenig, of Capital Lock.
Joshua Burlin emphatically defends his business plan, which he calls
"point of service" and has a heavy Web presence.
Document XWST000020090505e55300007
Ownership Changes
Ownership Changes
1. Ericsson says Sony logical buyer for SE stake -FT
268 words
7 May 2009
08:52
Reuters News
English
(c) 2009 Reuters Limited
Page 80 of 108
HELSINKI, May 7 (Reuters) - Ericsson chief executive Carl-Henric Svanberg said partner Sony would be a "logical buyer" for
Ericsson's half of handset making joint venture Sony Ericsson, the Financial Times reported on Thursday.
Steep losses from the venture have spurred investor talk the parents were agonising over the future of their offspring.
[ID:nLN546318]
However, both companies told the paper they were ready to inject more money into the venture if needed.
Sony Ericsson, the world's fifth largest cellphone maker, is suffering from its strong focus on music and camera phones, which have
been hurt the most in the economic downturn, and it has said it would focus more on top-end smartphones.
Sony Ericsson said in April it would stick to its plans to use three different operating systems -- Symbian, Google's Android and
Microsoft's Windows Mobile -- to make smartphones.
In the midst of recession and shrinking cellphone demand its three-way bet is seen as too costly in the market and Sony Ericsson's
chief Hideki Komiyama told the Financial Times the company may cut the number. [ID:nLQ663898]
Komiyama hinted Microsoft's position would be unsure on the list, calling X1, its only Microsoft phone so far, "a kind of experiment".
Sony Ericsson has benefited over the years from Sony's Walkman and Cybershot brands and Komiyama said also gaming phones,
using Playstation brand, "could happen". (Reporting by Tarmo Virki; Editing by Dan Lalor)
ERICSSON-SONY/|LANGEN|ABN|E|RBN|DA|FN|NW|SW|J|D|RNP|DNP|PCO
Document LBA0000020090507e557000r7
2. UPDATE: Microsoft's Ballmer Says Economy 'Really Bad'
338 words
7 May 2009
03:10
English
(Updates to include more quotes, background, stock price)
By Jessica Hodgson
OF DOW JONES NEWSWIRES
SAN FRANCISCO (Dow Jones)-The weak economy is creating a good opportunity for young entrepreneurs to start their own
businesses, Microsoft Corp. (MSFT) Chief Executive Steve Ballmer said on Wednesday.
The fact the economy is challenging forces entrepreneurs to focus on their products, services and companies, Ballmer said in a
speech to students at Stanford University in Palo Alto, Calif.
"The fact that there is more of a 'critical screen', the fact that customers are pickier with their money.... all of that is really a chance
to make products better," Ballmer said.
Redmond, Wash.-based Microsoft itself is preparing for a major product launch, the next release of its flagship Windows operating
system. It is also in talks with Internet giant Yahoo Inc. (YHOO) on a deal to collaborate on Internet advertising, a field the software
giant sees as important to its future.
Ballmer said Microsoft's lower profile in the Internet search market gave it certain advantages. "The No. 1 player is a lot bigger than
us in search," he said. "We're more like a start-up than a big guy in search."
He said that gave the company the chance to try things that a market leader, like Google Inc. (GOOG), might not be able to do. He
added that the company needed to be disruptive to get attention.
Ballmer added that Microsoft and Yahoo had room to collaborate on improving search technology and increase their audiences.
The software executive called the economy, which is mired in what will likely be the worst recession since the Great Depression,
"really bad."
Ballmer also said his company would invest $9 billion in research and development this year.
Microsoft shares, which are down more than 30% over the past year, closed flat at $19.79 on Wednesday.
-By Jessica Hodgson, Dow Jones Newswires; 415-439-6455; jessica.hodgson@dowjones.com
[ 05-06-09 2110ET ]
Document DJ00000020090507e5570000v
Page 81 of 108
3. Twitter co-founder says company not for sale
247 words
7 May 2009
02:43
Reuters News
English
SAN FRANCISCO, May 6 (Reuters) - The popular micro-blogging and social networking service Twitter is not for sale, one of the
company's founders said on TV on Wednesday.
Biz Stone made the declaration in an appearance on the ABC show "The View."
When host Barbara Walters -- mentioning rumors that Google Inc , Microsoft Corp and Apple Inc might be interested in acquiring
the company -- asked whether Twitter is for sale, Stone answered, "no."
"We're just getting started as I've said. The company is two years old, we have so much to do, so much product stuff to fix, and so
much growing to do."
Twitter has been the subject of takeover speculation since the company turned down a $500 million acquisition offer by social
networking heavyweight Facebook.
Twitter is a free service that allows people to send short, 140-character text messages to their network of friends. It has become
something of a cultural phenomenon, with politicians, celebrities and athletes all signing up to send messages, or "tweets," to a
growing audience of followers.
According to Nielsen Online, which measures Internet traffic, Twitter's Web site had more than 7 million unique visitors in February,
compared to 475,000 in February 2008.
The company, based in San Francisco, California, is focusing on monetizing its service this year. (Reporting by Gabriel Madway;
editing by Carol Bishopric)
TWITTER/|LANGEN|ABN|E|RBN|U|RNP|DNP|PCO
Document LBA0000020090507e5570000m
4. U.S. EPA probes Google on alleged chemical leak
294 words
7 May 2009
01:27
Reuters News
English
SAN FRANCISCO, May 6 (Reuters) - The U.S. Environmental Protection Agency is investigating the alleged release of refrigerant
at a Google data center and the accuracy of related statements and records, the Web search giant said on Wednesday.
Google, which portrays itself as a champion of the environment, said in a quarterly stock exchange filing it had learned of the
watchdog's investigation in February. It said the alleged incident occurred at one of its smaller data facilities, acquired from
DoubleClick.
"We spend a lot of time and effort at Google being conscious of our environmental footprint and so you can imagine how disturbed
we were to learn of possible environmental issues affecting one of our smaller data centers," spokesman Andrew Pederson said.
"We are already working, on our own and with the federal government, to understand what went on in this legacy facility, inherited
as part of the DoubleClick purchase," he said.
Google said in the filing it believed the matter will not have a material effect on its business. But it said it was noting the matter in
accordance with Securities Exchange Commission regulations requiring disclosure of environmental proceedings that could result in
monetary sanctions of $100,000 or more.
The Internet giant said it had provided the agency with documents and other materials. The EPA investigation could result in fines,
civil or criminal penalties or other administrative actions, Google said in its filing.
Pederson did not specify what happened exactly.
Some refrigerants are harmful to the environment, though users have been trying to phase them out and replace them with safer
variants. (Reporting by Alexei Oreskovic, editing by Leslie Gevirtz)
GOOGLE/|LANGEN|ABN|E|RBN|U|RNP|DNP|PCO
Document LBA0000020090506e556001ph
Page 82 of 108
5. ALL THINGS DIGITAL:Ballmer In Silicon Valley For Talk ... And More?
569 words
6 May 2009
15:57
English
(This story has been posted on All Things Digital, a blog owned by Dow Jones.)
By Kara Swisher
Of ALL THINGS DIGITAL
Later Wednesday afternoon, BoomTown will be front and center - well, I will probably get seated on the far side and way back - for a
speech that is to be delivered by Microsoft Corp. (MSFT) Chief Executive Steve Ballmer at Stanford University's Memorial
Auditorium on innovation and entrepreneurship. Part of the Entrepreneurial Thought Leaders Seminar, it is aimed at students there,
who are looking for some advice from tech's big dogs.
Ballmer is, of course, all that, with a blustery bark and an occasional bite.
Of course, he's probably channeling a more charming demeanor in another meeting sources says he has planned to have with
Yahoo Inc. (YHOO) CEO Carol Bartz on this visit to Silicon Valley.
The second since Bartz took over Yahoo in January, it's about whether or not the pair should make nice after a long period of
useless acrimony and strike a significant search and advertising partnership.
Many close to the discussions, which have been going on seriously since late March between small teams from both companies,
said that how the pair get along and whether they can actually pull the trigger together is all that matters.
Rapport is key, especially since such a deal has been exceedingly complex to figure out.
The latest idea is one in which Yahoo would take over both search and display advertising sales and Microsoft would run the tech
for both behind the scenes.
It's not clear if trading other assets - such as content - or a large investment in Yahoo by Microsoft are being considered, too.
If struck, such a deal would be a major shift for both companies in their business focus and would also tether them tightly together,
in order to better compete with Google Inc. (GOOG), which overwhelmingly dominates the lucrative search market.
Still, sources said, there is a lot keeping Microsoft and Yahoo apart, most especially a profound wariness over controlling key
technologies and tense history between them.
In addition, execs on both sides - such as Microsoft digital head and former Yahoo tech exec Qi Lu - are treading carefully about
every item, unsure of how so many ties would be handled.
"Could we fire Microsoft, if they did not perform?," said one Yahoo exec. "Or would we be stuck without control over our destiny, if it
all went south?"
For her part, sources who have spoken to Bartz about the recent discussions with Microsoft said she has remained resolute in not
giving up too much power to Microsoft.
Microsoft is also gun-shy, after its disastrous takeover attempt of Yahoo failed last year -with Ballmer loath to make another such
epic mistake in trying to turn around the software giant's lackluster digital efforts.
"He simply does not want to look stupid again," said one Microsoft source. "So it weighs on whether he has the guts to put himself
out there."
That's ironic, of course, since his Stanford speech Wednesday is on entrepreneurialism and innovation, which always requires an
ability to use failure as an way to move forward.
The question is, can Ballmer walk that talk?
http://wsj.com
. [ 05-06-09 0957ET ]
Document DJ00000020090506e556000d6
Press Releases
Press Releases
1. Cut-It-Out Communications Seizes and Holds Top Google Ranking Among Westchester Public Relations Firms for Over
Six Months
464
Page 83 of 108
words
6 May 2009
15:45
PR Newswire (U.S.)
English
HARTSDALE, N.Y., May 6 /PRNewswire/ -- Cut-It-Out Communications (www.cioediting.com), a full-service Westchester public
relations firm, today announced it has maintained a surprising top Google ranking among its peers for over six months.
The primary search term for the company was geo-targeted by using the phrase "Westchester County public relations," and
Cut-It-Out Communications has remained the number one non-paid response since its first announcement of the feat last October.
The company, founded in 2003, is beating much larger veteran organizations serving the region for decades.
Willy Gissen, President of Cut-It-Out Communications, said, "Our company's number one Google ranking is a source of great pride,
and we work very hard to retain it by maximizing inbound links to our web site through blogs, content provision sites, directories and
online press releases. SEO has become an exciting process of discovery for us and our clients."
Mr. Gissen recently attended PRSA's Digital Impact Conference and maintains a daily blog, The New York Times Leader, at
http://www.cioediting.com/wordpress, where he analyzes the lead story in the newspaper each morning. The blogging software was
incorporated into the company's web site to increase traffic and encourage "deep links" to an interior page. These deep links are
important in Google's ranking algorithm because they help determine whether a web site offers intrinsic value for its visitors.
Another source of deep links includes a web page with a series of proprietary how-to articles on nearly every area of public relations
such as starting an e-newsletter, drafting an effective press release, pitching editors and reporters, and many other topics. The
articles may be viewed at
http://www.cioediting.com/media_content_provision.asp
Founded in 2003, Cut-It-Out Communications focuses on the incorporation of online activities into traditional public relations
programs, primarily for business-to-business and hi-tech clients. The President, Willy Gissen, trained with a former SVP of the top
New York City PR firm, Hill & Knowlton. A Harvard graduate, Mr. Gissen has been interviewed on WVOX-AM and published widely
in the Westchester County Business Journal, Westchester Commerce, HV Biz and The Journal News.
Contact:
Willy Gissen, President
Cut-It-Out Communications, Inc.
wgissen@cutitoutcommunications.com
www.cioediting.com
914-723-7212
Available Topic Expert(s): For information on the listed expert(s), click appropriate link.
Willy Gissen
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=88378
SOURCE Cut-It-Out Communications
Willy Gissen, President, Cut-It-Out Communications, Inc., wgissen@cutitoutcommunications.com, +1-914-723-7212

200905060945PR_NEWS_USPR_____NY11724.xml
Document PRN0000020090506e5560053d
Page 84 of 108
2. wRatings Ranks 2009 Most Competitive Media & Telecom Companies ; Annual Study Shows Blurring of Industry Lines:
Google Repeats as #1 Media firm and Embarq Ranks Highest for Telecom Providers
1038 words
6 May 2009
13:10
Business Wire
English
(c) 2009 Business Wire. All Rights Reserved.
HERNDON, Va. - (BUSINESS WIRE) - The wRatings Corporation, an independent stock research firm, announced today the
results of their annual Most Competitive Media & Telecom Study, which was sponsored by Capgemini. In the report, Google
(NASDAQ:GOOG) repeats as the #1 Media company in 2009 with a W Score™ of 91.8. Embarq (NYSE:EQ), a regional telecom
provider that plans to merge with CenturyTel, is the #1 telecom provider with a W Score of 82.3. A W Score of 100 means the
business built the highest customer and economic advantages when compared to the 1200+ companies in the wRatings national
coverage.
In contrast to other industries such as Retail & Consumer Goods, turnover in the Top 20 Media & Telecom list from 2008 is less
severe. Various reasons exist for the lack of change, but the sheer size of media companies and the large investments in capital
required for telecom providers is helping to keep a ‘status quo’ in the competitive landscape. The lack of change also indicates how
companies today are struggling to move away from stagnant business models, and break open new and innovative ways to
monetize their business.
“While competition is everywhere now for media companies, few have figured out how to build a durable advantage beyond
traditional means like economies of scale,” said Gary A. Williams, CEO & founder of wRatings. “Yet, a few smaller companies that
specialize in serving niche communities are finding ways to combine unique content with a fully controlled distribution channel. This
blurs the line between media and telecom, and may relegate certain providers to mere commodities.”
Greg Jacobsen, Capgemini vice president and global leader Telecommunications, Media and Entertainment added, “These are
certainly interesting and challenging times for media and telecom firms. Technology is enabling new business models that
companies both old and new can take advantage of or be displaced by. Our mission at Capgemini is to collaborate with our clients
to harness the full opportunities offered by leading-edge information technology transformation.”
The Most Competitive report series from wRatings identifies the best performing companies through a patented method that blends
financial and customer data. To arrive at the rankings, wRatings ask customers how well companies meet their expectations every
quarter. The customer ratings are categorized by 9 competitive moats, or barriers to entry companies create to prevent rivals from
taking their customers and, ultimately, their profits. Each W Score blends a company’s historical economic profit with its competitive
moat scores.
Top 20 Most Competitive Media Companies
2009 2008* Business Segment Parent Company Ticker W Score™

1 1 Google Tools NASDAQ:GOOG 91.8
2 18 Arbitron NYSE:ARB 84.6
3 44 Morningstar.com NASDAQ:MORN 83.1
4 2 TheStreet.com NASDAQ:TSCM 79.4
5 23 Apple iTunes NASDAQ:AAPL 77.1
6 12 VH1 Channel NYSE:VIA.B 76.6
7 20 USA Today NYSE:GCI 75.1
8 7 Nickelodeon NYSE:VIA.B 75.0
9 40 DreamWorks NASDAQ:DWA 74.4
10 19 Google News NASDAQ:GOOG 74.4
11 9 Ticketmaster NASDAQ:TKTM 74.0
12 22 YouTube NASDAQ:GOOG 72.9
13 3 Google Search NASDAQ:GOOG 72.4
14 32 MTV Channel NYSE:VIA.B 71.9
15 11 Paramount Studio NYSE:VIA.B 70.8
16 33 BusinessWeek NYSE:MHP 69.1
17 25 Moody’s Credit Ratings NYSE:MCO 68.8
18 35 MS-NBC Channel NYSE:GE 68.1
19 6 Food Network Channel NYSE:SNI
Page 85 of 108
66.4
20 39 Universal Theme Park NYSE:GE 65.4
Top 20 Most Competitive Telecom Providers
2009 2008* Business Segment Parent Company Ticker W Score™

1 22 Embarq Phone NYSE:EQ 82.3
2 1 Hughes Network Systems NASDAQ:HUGH 76.2
3 33 Harris Corp NYSE:HRS 73.5
4 10 Qualcomm NASDAQ:QCOM 72.3
5 12 Windstream Communications NYSE:WIN 70.2
6 5 Juno/Netzero NASDAQ:UNTD 61.7
7 7 FairPoint Communications NYSE:FRP 61.2
8 9 DISH Network NASDAQ:DISH 58.1
9 48 CommScope NYSE:CTV 57.9
10 47 Earthlink NASDAQ:ELNK 57.4
11 4 Cincinnati Bell NYSE:CBB 56.1
12 25 ADC Telecommunications NASDAQ:ADCT 55.6
13 2 Frontier Phone NYSE:FTR 54.9
14 23 Brightpoint NASDAQ:CELL 51.2
15 40 Brocade Communications NASDAQ:BRCD 51.1
16 27 EchoStar NASDAQ:SATS 48.8
17 18 Cricket NASDAQ:LEAP 48.7
18 13 Time Warner Cable NYSE:TWC 48.7
19 52 Cablevision NYSE:CVC 47.2
20 45 Skype NASDAQ:EBAY 46.4
* Rankings from the 2008 report published last year did not include business-to-business companies. For comparison purposes, this
ranking includes all companies.
The 2009 edition of Most Competitive Media & Telecom companies shows a breakdown of the top 20 in each industry, unveils
critical trends in consumer expectations and pricing power, and spotlights several companies from the top 20. You can access a
complimentary version of the report here:
Capgemini: http://www.us.capgemini.com/DownloadLibrary/requestfile.asp?ID=739
SAP:
http://www.sap.com/usa/industries/media/index.epx
or
http://www.sap.com/usa/industries/telecom/index.epx
wRatings:
http://www.wratings.com/projections.php?s=918
[limited time only]
Basic subscriptions to a small set of wRatings data are complimentary. Professional subscriptions to the complete library of
wRatings reports and data are available to investors and corporations through third-party platforms and direct from wRatings. To
learn about your subscription options, visit
www.wRatings.com
Page 86 of 108
About wRatings Corporation
The wRatings Corporation is an independent stock research firm based in metro Washington DC. The company was founded by
Harvard Business Review and book author, Gary A. Williams. He and his team continually study consumer and executive buying
behavior to project the future earnings performance of companies. Since 1999, their original set of leading indicators uses a
common framework to measure the competitive strength of companies. For more information, visit
www.wRatings.com
Press contact: wRatings Corporation Beth Green,

703-788-6532 beth.green@wratings.com
Document BWR0000020090506e5560043e
3. SeeWhy Launches First Free Abandonment Tracking Service that Converts up to 30 Percent of Website Abandoners ; The
Average Ecommerce Site Loses $10 Every Second to Abandonment, Only 9 Percent of Websites Follow Up within 24
Hours * Free Service: Sign up for Abandonment Tracker Free at http://www.seewhy.com/atfree * Customer validates
Abandonment Tracker Free complement to Google Analytics, yielding 30% recovery of website abandoners * Follow
SeeWhy at eMetrics Summit on Twitter at @webconversion
968 words
5 May 2009
15:15
Business Wire
English
SAN JOSE, Calif. & ANDOVER, Mass. - (BUSINESS WIRE) - Converting website abandoners with real-time analytics, SeeWhy,
Inc. today launched a real-time website analytics service called Abandonment Tracker Free, the world’s first free abandonment
tracking service. Users can sign up for the service at
http://www.seewhy.com/atfree
Abandonment Tracker Free is available as a software-as-a-service (SaaS) solution that makes it easy to convert up to 30 percent of
website visitors who had previously abandoned their shopping carts, online forms, applications and registrations. With
Abandonment Tracker Free, companies can gain back up to 30 percent of lost revenues, making this service one of the highest ROI
solutions in the industry.
Abandonment Tracker Free provides a simple and easy way to capture lost sales value, converting those ‘lost clicks’ into ‘revenue’
by giving website operators a way to follow up directly with abandoners and convert them into customers. Statistics today
demonstrate that only 17 percent of companies follow up on website abandonment at all and only 9 percent within 24 hours. And
based on an average, medium-sized ecommerce company with revenues of $200M per annum and a shopping cart abandonment
rate of 50%, these sites lose $10 every second to abandonment.
“Website abandonment is a persistent problem that affects every website,” said Charles Nicholls, founder and chief strategy officer
of SeeWhy. “Up to 70 percent of shopping carts, registrations, quotes and online forms are abandoned before they’re complete.
Companies need to consider complementing their traditional web analytics with follow-up actions to maintain revenue from
consumers while your website is still fresh in their minds.”
Tracking the Free Web Conversion Revolution
Standing apart from Google Analytics and solutions from Omniture, Coremetrics and WebTrends, Abandonment Tracker Free
delivers breakthrough improvements in website conversion. While other web analytics solutions report on aggregate trends to reveal
conversion and abandonment problems, Abandonment Tracker Free extends traditional web analytics with personal one-to-one
contact. By capturing individuals at critical points, the new service enables web teams to take immediate action to drive conversion
rates and revenues.
Setting up Abandonment Tracker Free is fast and easy. In short, Abandonment Tracker Free captures the unique IDs of website
abandoners, emailing those IDs to the website operator for use in follow-up, re-marketing campaigns targeted to the individual
abandoners. Users sign up on the SeeWhy website, and then copy their unique SeeWhy page tag onto their site, which usually
takes less than 20 minutes. Within 24 hours, the Abandonment Tracker Free service is live for that
Page 87 of 108
site.
When a visitor lands on a web page in the conversion funnel, an event is sent to SeeWhy’s secure data center. If the visitor doesn’t
convert, SeeWhy records the abandonment along with the details, including email address, shopping cart items and amount, and
stage in the conversion process at which the visitor abandoned.
Jay Bregman, CTO and founder at eCourier.co.uk, said, “We are the world's first online courier company, doing about 95 percent of
our bookings via the web. That’s approximately 25,000 deliveries a month (and growing) with a team of 125 couriers in London.
With Abandonment Tracker Free, we are able to detect booking and account opening abandonments for the first time. We then are
able to take immediate corrective action with a follow-up email or phone call. It’s a great complement to our Google Analytics
service, and initial reports suggest Abandonment Tracker will recover up to 30 percent of our customers who had abandoned and
convert them to revenue.”
Abandonment Tracker Free in Action
Following up website abandonment can drive website conversions across a variety of different applications and ecommerce
environments, including:
* form abandonment
* shopping cart abandonment
* registration abandonment
* download abandonment
* web page abandonment

SeeWhy is debuting Abandonment Tracker Free at the eMetrics Marketing Optimization Summiton May 4-7, 2009, at the Fairmont
San Jose in San Jose, CA. A silver sponsor of the show, SeeWhy is exhibiting in booth 57.
For more information on SeeWhy, visit
www.seewhy.com
. For additional perspectives, please visit and subscribe to the SeeWhy RSS blog feed at
http://websiteconversion.blogspot.com
, and follow SeeWhy on Twitter at @webconversion.
About SeeWhy
SeeWhy delivers breakthrough improvements in website conversion through continuous analysis of individual visitors and
proactively optimizes real-time actions. Powered by a unique next generation event processing architecture, the SeeWhy suite of
real-time web analytic applications is delivered “on-demand.” Re-marketing to abandoned visitors using the SeeWhy Abandonment
Tracker service converts up to 30% of visitors that had abandoned their shopping carts, online forms, applications and registrations.
This service provides one of the highest and most easily attainable ROI’s of any online marketing initiative.
SeeWhy is a Red Herring Top 100 Company, has been named a Global Innovator by Guidewire Group and was highlighted as a
cool company by Gartner, Inc. SeeWhy, Inc. was incorporated in 2003 and is headquartered in Andover, MA. More information can
be found at http://www.seewhy.com/.
SeeWhy, the SeeWhy logo and SeeWhy Abandonment Tracker Free are trademarks of SeeWhy Inc. All other trademarks the
property of their respective owners.
Tags:
Shopping cart abandonment, website conversion, form abandonment, web analytics, SeeWhy, Google Analytics, Omniture,
Coremetrics, WebTrends
TECHMarket Communications Nicole Messier, 518-306-4029 (Media) NMessier@TECHMarket.com

Document BWR0000020090505e555003xz
4. Insight EMEA Joins Google Apps Reseller Program
532 words
4 May 2009
22:05
Business Wire
English
TEMPE, Ariz. - (BUSINESS WIRE) - Insight EMEA, a division of Insight Enterprises Inc. (NASDAQ: NSIT), one of the largest global
value-added resellers of IT solutions with operations in 15 countries in EMEA, has teamed with Google Enterprise to bring Google
Apps online applications and services to Insight’s client base in EMEA.
Page 88 of 108
Insight and Google foresee businesses of all sizes, in every industry, embracing Software as a Service (SaaS) in ever-increasing
numbers. The economic, security, reliability, and delivery advantages of SaaS can give companies a real competitive advantage.
Google Apps™ offers simple to use and powerful messaging and collaboration applications for business – including Google Mail™,
Google Calendar™, Google Talk™ chat and instant messaging, Google Docs™ document, spreadsheet and presentation sharing
and editing, Google Video™ for internal video sharing, and Google Sites™ intranet for knowledge sharing.
As one of the global leaders in SaaS, Google Apps has experienced accelerating adoption with over 3,000 businesses signing up
daily and over 1 million companies already using this solution to improve their business with better messaging and collaboration
tools.
Stuart Fenton, President, Insight EMEA, said, “Insight is a strong advocate of the SaaS model and we see this as an excellent
opportunity to partner with a market leader in this space. Our approach to technology goes beyond mere implementation and
instead provides real business guidance on technology adoption and deployment. Insight provides Google Enterprise with expertise
in helping clients manage and deploy software across diverse IT environments, from small- and medium-sized clients up to and
including the most complex large, global clients. A significant portion of the Global Fortune 500 clients currently look to Insight as
their trusted advisor for software today. While this agreement initially covers Europe Middle East and Africa we expect to extend the
partnership to North America and Asia Pacific at a later date.”
Adrian Joseph, Managing Director, Google Enterprise EMEA, said, “We recognize that resellers, the trusted advisors and
technology consultants to their clients, play a pivotal role in helping those clients get the best out of Google Apps. Given that Insight
has one of the broadest customer coverage models of any reseller and a broad portfolio of offerings, they are in a unique position to
offer their customers choice and independent advice. I am delighted that we are working with Insight in EMEA.”
About Insight
Insight Enterprises, Inc. is a leading provider of brand-name information technology, hardware, software and services to large
enterprises, small- to medium-sized businesses and public sector institutions in North America, Europe, the Middle East, Africa and
Asia-Pacific. The Company has more than 4,500 teammates worldwide and generated revenues of over $4.8 billion for the fiscal
year ended December 31, 2007. Insight is ranked number 484 on Fortune magazine’s 2009 ‘Fortune 500’ list.
Google, Google Apps, Gmail, Google Docs, Google Calendar, Google Video, Google Talk, Google Sites, and Google Apps
Authorized Reseller are trademarks of Google Inc.
Insight Enterprises, Inc. Stuart Fenton, EMEA President +44

870 704 5250 stuart.fenton@uk.insight.com Jet
Golia, Commercial Vice President +44 870 704 5376 jet.golia@uk.insight.com
Document BWR0000020090504e554009hp
5. Investors Capital Corporation Top Independent Broker/Dealer According to Google Rankings ; Company Credits Recent
SEO Project
393 words
1 May 2009
16:35
Business Wire
English
LYNNFIELD, Mass. - (BUSINESS WIRE) - Investors Capital Corporation (ICC), the premier independent broker/dealer of Investors
Capital Holdings, Ltd. (AMEX: ICH), is tops when it comes to Google. Search engine results for the search phrase “top independent
broker dealers” and numerous others phrases rank Investors Capital Corporation in the top broker/dealer spot due to the firm’s
recent focus on Search Engine Optimization (SEO). SEO is the process of improving the volume and quality of website traffic via
organic (“natural”) search results.
“I’m extremely pleased with our in-house SEO initiative,” said Robert H. Foney, Director of Marketing and Public Relations for
Investors Capital.
The company has already seen an increase of over 100% in website leads since undertaking the project in late-February. ICC has
also seen a marked increase in the quality of those leads.
“We’re working on a $2 million advisor who recently came through our website,” said Mr. Foney. “Both wirehouse and independent
advisors are coming to our site via Google, warming to our value proposition, and submitting an online form to join. SEO has done
wonders for our brand.”
The Investors Capital SEO project has yielded more motivated prospects and improved the company’s brand identity by being at
the top of the search results, which, in turn, yields more qualified prospects. The firm is considering making SEO available to its
advisors.
“As a top independent broker/dealer, we believe we should be in the top spot,” said Foney. “It’s only natural.”
About Investors Capital Holdings, Ltd.:

Investors Capital Holdings, Ltd. (AMEX:ICH) of Lynnfield, Massachusetts is a diversified financial services holding company that
operates primarily through its independent broker/dealer and investment advisor subsidiary, Investors Capital Corporation. Our
mission is to provide premier, concierge-level service and support to our valued registered representatives, including advisory
programs, strategic practice management and marketing services, and technology, to help them grow their businesses and exceed
their clients’ expectations. Business units include Investors Capital Corporation, Investors Capital Advisory Services, ICC Insurance
Agency, Inc., and Investors Capital Holdings Securities Corporation. For more information, please call (800) 949-1422 x4814 or visit
www.investorscapital.com.
Page 89 of 108
Investors Capital Corporation Robert Foney, 781-477-4814 Director

of Public Relations rfoney@investorscapital.com
www.investorscapital.com
Document BWR0000020090501e551006mz
Trade Articles
Trade Articles
1. Pharmacotherapy; New research on pharmacotherapy from Samford University summarized
498 words
08-May-2009
Drug Week
1211
English
(c) Copyright 2009, Drug Week via NewsRx.com
2009 MAY 8 - (NewsRx.com) -- "Google Scholar linked more visitors to biomedical journal Web sites than did PubMed after the
database's initial release; however, its usefulness in locating primary literature articles is unknown. To assess in both databases the
availability of primary literature target articles; total number of citations; availability of free, full-text journal articles; and number of
primary literature target articles retrieved by year within the first 100 citations of the search results," scientists in the United States
report.
"Drug information question reviews published in The Annals of Pharmacotherapy Drug Information Rounds column served as
targets to determine the retrieval ability of Google Scholar and PubMed searches. Reviews printed in this column from January
2006 to June 2007 were eligible for study inclusion. Articles were chosen if at least 2 key words of the printed article were included
in the PubMed Medical Subject Heading (MeSH) database, and these terms were searched in both databases. Twenty-two of 33
(67%) eligible Drug Information Rounds articles met the inclusion criteria. The median number of primary literature articles used in
each of these articles was 6.5 (IQR 4.8, 8.3; mean +/- SD 8 +/- 5.4). No significant differences were found for the mean number of
target primary literature articles located within the first 100 citations in Google Scholar and PubMed searches (5.1 +/- 3.9 vs 5.3 +/-
3.3; p = 0.868). Google Scholar searches located more total results than PubMed (2211.6 +/- 3999.5 vs 44.2 +/- 47.4; p = 0.019).
The availability of free, full-text journal articles per Drug Information Rounds article was similar between the databases (1.8 +/- 1.7
vs 2.3 +/- 1.7; p = 0.325). More primary literature articles published prior to 2000 were located with Google Scholar searches
compared with PubMed (62.8% vs 34.9%; p = 0.017); however, no statistically significant differences between the databases were
observed for articles published after 2000 (66.4 vs 77.1; p = 0.074). No significant differences were identified in the number of target
primary literature articles located between databases," wrote M.K. Freeman and colleagues, Samford University.
The researchers concluded: "PubMed searches yielded fewer total citations than Google Scholar results; however, PubMed
appears to be more specific than Google Scholar for locating relevant primary literature articles."
Freeman and colleagues published their study in Annals of Pharmacotherapy (Google Scholar Versus PubMed in Locating Primary
Literature to Answer Drug-Related Questions. Annals of Pharmacotherapy, 2009;43(3):478-484).
For more information, contact M.K. Freeman, Samford University, McWhorter School Pharmacy, Drug Informat Center, 800
Lakeshore Dr., Birmingham, AL 35229, USA.
Publisher contact information for the journal Annals of Pharmacotherapy is: Harvey Whitney Books Co., PO Box 42696, Cincinnati,
OH 45242, USA.
This article was prepared by Drug Week editors from staff and other reports. Copyright 2009, Drug Week via NewsRx.com.
Document DRGW000020090501e558000xn
2. Totally Trivial: Top of the world
By Nick Wood , Total Telecom

732 words
06-May-2009
Total Telecom
English
© 2009 All content copyright, Terrapinn Holdings Limited. All rights reserved.
Everest summit to get mobile coverage, texters go for world record, and Google's new hiring policy.

'Hi, I'm up a mountain, air's a bit thin'
Nepal Telecom plans to extend coverage of its mobile network to the summit of Mount Everest, reports Reuters.
Until now anyone hoping to make the smug, albeit slightly breathless, phone call to friends and family from the 8,850-metre peak
had to use a satellite phone, which is far more
Page 90 of 108
expensive.
Now however, Nepal Telecom plans to expand its terrestrial network.
"We are going to set up mobile towers in Thakdin, Manjo, Pheriche, and Gorak Shep, which will bring the summit of Mount Everest
within the network coverage," said Anoop Ranjan Bhattarai, director of Nepal Telecom's satellite services wing, in the report.
"A mobile tower at Gorak Shep will provide connectivity to climbers at the top," he commented.
However, thin air at the summit and the need for oxygen masks could make it difficult to hold a decent conversation, and climbers
may have to resort to texting instead: "Got 2 top, have frostbite on nose ROFL x"
Text record attempt ends in $26K bill, sore thumbs
Two text-happy, and no doubt arthritic, friends were shocked after a text message world record attempt landed one of them with a
$26,000 phone bill.
AP reported that Nick Andes, 29, and Doug Klinger, 30, both from Pennsylvania in the U.S., made the most of their unlimited text
plans in March by sending a grand total of 217,000 messages between them.
Unfortunately, Andes received an itemised bill for his part of the record attempt.
"It came in a box that cost $27.55 to send to me," said Andes, in the report. He called T-Mobile, which has since credited his
account and is investigating the über bill.
Andes sent more than 140,000 texts, while Klinger sent more than 70,000, giving them a total of 217,000 by the end of the month.
"Most were either short phrases or one word, 'LOL' or 'Hello', things like that," said Andes.
It is not yet known whether or not the text binge will be officially recognised as a Guinness World Record, or if either Andes or
Klinger are in regular employment.
Third armchair locator hits Japan
Mobile phone software that guides users to the nearest public toilet – often referred to by Total Telecom as the 'third armchair', as
regular readers will know – is now available in Japan, reports the Mainichi Daily News.
The aptly-named Check A Toilet lists thousands of maps highlighting the location of lavatories and the facilities available, such as
baby changing, for example.
Given the well-documented use of phones by people when they are ensconced on the third armchair, future facilities might also
include conferencing services, WiFi access and a coffee machine.
"Finding a restroom to accommodate you in time can prove a problem," said the report.
Users can download the application for free so when nature calls they simply enter their location into a search box which then
returns a map of the area listing the nearest toilets.
Check A Toilet runs on Windows Mobile and Symbian S60, meaning for now, iPhone, Blackberry and Android users will have to
make do with trees, phone boxes, alleys or the side of the road.
Grass is always goatier on the Googley side
Finally, Google has taken a novel approach to maintaining the fields surrounding its Mountain View, California headquarters, by
employing a herd of goats.
The Internet giant said 200 goats at a time spend around a week at Google eating weeds and grass, which also helps to clear away
brush and lowers the risk of fires.
"This spring we decided to take a low-carbon approach: Instead of using noisy mowers that run on gasoline and pollute the air,
we've rented some goats," wrote Dan Hoffman, director of real estate and workplace services, on Google's blog.
"We're not 'kidding'," he said, prompting this telecoms journalist to doff his cap in appreciation for Hoffman's services to
paronomasia.
"It costs us about the same as mowing and goats are a lot cuter to watch than lawn mowers," he said.
Doesn't sound like they're off to a baa'd start, does it?
445370
Document TOTEL00020090506e5560000c
3. Internet & Online Services; E-commerce
Page 91 of 108
Sogou.com Ranked No. 3 on Toocle.com Search Engine List
news.ccidnet.com
188 words
06-May-2009
SinoCast Internet & Media Beat
1
English
Copyright 2009 SinoCast LLC. All Rights Reserved.
BEIJING, May 6, SinoCast -- Sogou.com showed a robust growth trend in April 2009, outracing Youdao.com and ranking the third
place on the search engine list posted by Toocle.com.
Being popular with more and more businesspersons, Sogou.com saw its market share leaped to 7.55% from 6.78% in the prior
month, with a growth of nearly 15%. The growth was thanks to Sogou.com's achievements in commercial products and user
products, noted analysts. Moreover, Sogou.com continues its strong growth trend in May and once scored a market share of
13.66%.
Earlier statistics showed that Youdao.com, under the aegis of Chinese Internet portal NetEase.com, Inc. (NASDAQ: NTES), ranked
the third place on the aforementioned search engine list with a market share of 6.87% in March 2009.
Other players, Baidu, Inc. (NASDAQ: BIDU), Google Inc. (Nasdaq: GOOG), Sogou.com, Yahoo.com, and Soso.com respectively
took a 58.16%, 15.24%, 6.78%, 6.76%, and 6.19% market share.
Document SCIMB00020090506e55600003
4. Strategy Analytics: Google and Nokia Well Placed to Target $8 Billion Location Based Service Opportunity
350 words
05-May-2009
Wireless News
English
(c) 2009. Close-Up Media, Inc. All rights reserved.
Wireless carriers are increasingly losing control of location-based service provision to Internet companies such as Google and
Yahoo, and to handset vendors like Nokia, according to, "Location-Based Services: Opportunities within an Emerging Battleground,"
the latest report from the Strategy Analytics Wireless Media Strategies Service.
Operators have focused primarily on navigation, people locators and 'find the nearest' services, but struggled to drive location
service adoption for each of these categories. However, the development of cell tower databases by companies such as Google
and Skyhook, along with the integration of location APIs onto handsets, has enabled the development of a diverse set of location
applications for distribution through popular channels, such as Apple's App Store and Google's Android Marketplace. "Strategy
Analytics expects that these elements, combined with greater GPS handset ownership and data plan adoption, will trigger growth in
location-based service revenues from $650 million at the end of 2008 to almost $8 billion by 2013," comments Nitesh Patel, Senior
Analyst, Wireless Media Strategies, at Strategy Analytics. Over 80 percent of these location revenues will come from
location-enabled search and voice-guided navigation applications.
The report also identifies Google and Nokia as significant threats to carrier ambitions. David MacQueen, Director at Strategy
Analytics, added, "Nokia has made significant moves in location-based services through its acquisition of mapping data provider,
Navteq, and smaller companies, such as Plazes and bit-side. Nokia's significant handset market share, combined with its ability to
integrate location applications onto its handsets, places it in a strong position to compete with carrier and internet brands for
ownership of location service users. Similarly, Google's significant brand strength and carrier independent location positioning
database threatens to disintermediate the operator from the location services value chain."
Strategy Analytics provides market intelligence focused on opportunities and disruptive forces in the areas of Automotive
Electronics and Entertainment, Broadband Connected Home, Mobile & Wireless Intelligent Systems and Virtual Worlds.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Document WLNW000020090506e5550005x
5. GBS to Utilize O3b's Low-latency Network for Broadband And WiMax Services
281 words
05-May-2009
Wireless News
English
(c) 2009. Close-Up Media, Inc. All rights reserved.
O3b Networks Limited (O3b), developer of a new fibre quality, global Internet backbone, announced that Global Broadband Solution
(GBS) has signed a multi-year, multi-million dollar contract for O3b Networks' Quick Start service.
O3b's Quick Start carrier managed service provides high-bandwidth, low-latency Internet access directly to GBS. Once connected,
the company noted, GBS will offer more affordable, high speed Internet access to its customers over their infrastructure, which
Page 92 of 108
includes a WiMax network.
According to a release, O3b Networks, funded by Google Inc., Liberty Global, Inc. and HSBC Principal Investments, is building the
world's first ultra-low-latency, fibre-speed satellite network. The network is designed to improve Internet access for the millions of
consumers and businesses in emerging and developing markets. Satellite delivery is scheduled for late 2010.
"O3B's internet backhaul service is a key element in our on-going project to build the first nationwide 4G mobile Internet wireless
network in DRC," said Daniel Vanderstraete, President of GBS. "By combining the affordable low latency bandwidth of O3B and the
new 4G mobile WiMAX technology, we are bringing an unprecedented combination of speed and mobility to DRC".
"GBS is one of the preeminent service providers in the Democratic Republic of Congo and other parts of sub-Saharan Africa," said
John Finney, EVP Sales and Marketing for O3b Networks, Ltd. "Their long standing experience and knowledge of the African ICT
market combined with O3b's low latency, high bandwidth network will ensure broad deployment of robust internet services in the
DRC."
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Document WLNW000020090506e55500053
Capacities/Facilities
Capacities/Facilities
1. Responding to Increased Demand for Cost-effective Workplace Options, Regus Opens its First Center in Des Moines
724 words
6 May 2009
21:52
PR Newswire (U.S.)
English
Regus helps businesses reduce facilities costs and mitigate risk through flexible workplace practices
DES MOINES, Iowa, May 6 /PRNewswire-FirstCall/ -- In response to increasing demand, The Regus Group (LSE: RGU) has
opened its first fully-furnished and equipped business center in Des Moines. The new center, located in the Promenade Plaza North
building at West Glen Town Center, offers enterprises powerful workplace tools to weather the turbulent economy by reducing costs
and risks, while increasing operational efficiencies. Regus will celebrate the opening of its newest location with a Grand Opening
event taking place at the center from 5:00 p.m. to 7:00 p.m., Thursday, May 7.
Aligning Costs with Changing Requirements
"Companies struggling with the cost of office space as well as changing space requirements can now turn to Regus for help," said
Jeff Doughman, Midwest Region Vice President for Regus. "Our recession-busting solutions enable our clients -- which range from
individuals and start-ups to large corporations -- to eliminate up-front the capital expenditures related to technology, furnishing and
staffing an office while reducing on-going facilities expenses by up to 60 percent. At the same time, our flexible agreements
dramatically reduce business risk." The net result: Regus lets companies establish an office quickly and more affordably; boost their
financial health by reinvesting the savings; and scale their offices up or down as needs dictate.
Companies can also reduce travel costs by up to 75 percent by using Regus' videoconferencing studios, which are available by the
hour to facilitate face-to-face meetings. The company recently reported a 40 percent increase in videoconference bookings.
In addition, Regus' Businessworld program gives members on-demand access to business-ready offices, meeting rooms and
lounges for less than $25 per month. Whether a member is seeking a place to work locally, across the U.S. or internationally, this
revolutionary program allows companies to put people on the ground wherever and whenever business opportunities arise. For
those that need a physical presence in prime locations such as West Glen Town Center, Regus' virtual office service provides a
prestigious business address, meeting rooms, mail-handling services and access to private office and professional meeting space
for a low monthly fee.
A Sophisticated, Growing Environment for Business
"The sophisticated, main street environment of West Glen Town Center is ideal for individuals that want to work closer to where
they live while ensuring easy access to anywhere in the Des Moines metropolitan area," said Doughman. "In addition to its great
Page 93 of 108
location, West Glen offers one of the best environments in which to do business in the city - so we're extremely pleased to be a part
of the rapid growth that West Des Moines is experiencing. Helping businesses cost-effectively establish a presence in a highly
sought-after address like West Glen Town Center is something we take a great deal of pride in."
Members of the press are invited to attend the Grand Opening event and tour the state-of-the-art facility. The center is located at
5550 Wild Rose Lane, West Des Moines, Des Moines, Iowa 50266.
About The Regus Group
The Regus Group is the world's leading provider of pioneering workplace solutions, with products and services ranging from fully
equipped offices to professional meeting rooms, business lounges and the largest network of videoconferencing studios. The Regus
Group delivers a new way to work, whether it's from home, on the road or from an office.
Clients such as Google, GlaxoSmithKline and Nokia join thousands of growing small and medium businesses that benefit from
outsourcing their office and workplace needs to The Regus Group, allowing them to focus on their core business.
Over 200,000 clients a day benefit from The Regus Group facilities spread across a global footprint of 950 locations in 400 cities
and 70 countries, which allows individuals and companies to work wherever, however and whenever they want to.
For more information about how The Regus Group can help business owners expand their presence, reduce risk and compete
effectively, visit
www.regus.com
SOURCE The Regus Group
Dennis Watson of The Regus Group, +1-214-295-2344, dennis.watson@regus.com

200905061552PR_NEWS_USPR_____DA12379.xml
Document PRN0000020090506e5560093z
2. RPT-ANALYSIS-Cloud software matures as economy boosts allure
978 words
6 May 2009
13:00
Reuters News
English
(Repeats story issued May 5)
* Cloud software to grow faster than traditional software
* Gartner raises forecasts for cloud-based software
* Security, technology improvements foster adoption
By Jim Finkle
BOSTON (Reuters) - Web-based business software sales are growing briskly, even as most of the industry stalls, as the segment
pioneered by Salesforce.com Inc benefits from the weak economy and fading concerns about security.
Gartner Research now expects 2009 sales of so-called cloud-based software to grow 22 percent to a record $8 billion, a touch
higher than before, the firm said Tuesday.
"We are still going strong," said Gartner analyst Sharon Mertz, who advises IT managers on software purchases. "The model is
pretty solid, even in these tight economic times."
This puts pressure on established software companies such as Microsoft Corp, International Business Machines Corp, Oracle Corp
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and SAP AG to play catch-up, after standing on the sidelines for most of the past decade as Salesforce and others gained credibility
with corporate clients.
Providers of cloud-based software, also known as Software as a Service or SaaS, host the technology in their own data centers,
allowing customers to access it via ordinary Web browsers. That saves clients the cost of buying licenses in advance and running
programs on their own computers.
Thus, SaaS sales have outperformed traditional software as the economy worsened. "It has low cost and low risk," said Rebecca
Wettemann, an analyst with Nucleus Research, which helps IT managers evaluate software programs.
SaaS provider NetSuite Inc, founded by Oracle chief Larry Ellison, this week reported a 22 percent increase in quarterly revenue,
showing that its products were beginning to be accepted by larger companies in addition to its core base of small and medium-sized
businesses.
While NetSuite is growing from a much smaller base, its performance contrasts with a 33 percent fall in software revenue at SAP, a
6 percent drop at IBM and a 5 percent rise at Oracle. Salesforce, which reports results later this month, is forecast to post a 23
percent increase in sales, according to Reuters Estimates.
SHARES REFLECT GROWTH
Gartner expects the SaaS market to grow at average annual rates of 19.4 percent through 2013, far above the 5.2 percent growth
for the overall business management software market.
Investors have noticed and shares of major SaaS providers currently trade at a premium. Salesforce, whose stock has gained 40
percent this year, is trading at about 56 times forward earnings according to Reuters Estimates. NetSuite, which is up 48 percent
this year, trades at a multiple of 93.
By comparison, SAP, whose shares have gained 12 percent this year, trades for about 14 times forward earnings. Oracle, whose
stock is up 7 percent, trades at a multiple of 13.
Such a scenario was hard to imagine a decade ago, when Marc Benioff quit an executive job at Oracle to develop Web-based
business software as easy to use as consumer websites such as Amazon.com.
He assembled a small team of programmers who worked out of a small apartment in the building where he lived on San Francisco's
Telegraph Hill. They developed Salesforce's first software programs for managing sales and marketing fairly quickly, but getting
customers was a bigger challenge due to security concerns.
"The idea of putting corporate information on the Internet was something that people thought was just not going to happen," said
Parker Harris, one of Benioff's first employees and one of Salesforce's top developers. "The real question was: Would people trust
it? It is a huge issue."
Salesforce gradually signed up customers, including major financial institutions like Merrill Lynch and insurer Aon, which conducted
intensive reviews of its data centers. Having these references helped alleviate concerns about security.
"As people use it, we learn more about it. It evolves, it becomes more widely adopted," said Gartner's Mertz.
But about two years ago, some Salesforce customers were targeted by spammers seeking to obtain their system passwords. The
company thwarted the attackers by alerting customers and adding new security measures. "It is getting more secure over time,"
Salesforce's Harris said.
TECHNOLOGY INNOVATIONS
Today, Salesforce counts among its 55,000 business customers Dell Inc, Sprint Nextel Corp, Starbucks Corp, Toyota Motor Corp
and the U.S. Army.
"The maturity of the SaaS model has come a long way," said Tom Hattier, an IT manager with General Electric Co. "More and more
companies have embraced it. That's usually the way to really prove something."
GE, which has been using Web-based software to a limited extent for several years, went live last October with a corporate-wide
system hosted by privately held Aravo Solutions that manages GE's database of more than 500,000 suppliers.
The surge in popularity of cloud-based business software has been support by innovations in so-called Web 2.0 technology from
companies including Google Inc.
Google sells business versions of the email, calendar spreadsheet and word processors it offers consumers, offering them extra
collaboration and archiving functions.
Microsoft, which has been relatively late to embrace cloud technology, offers online marketing software, programs targeted at small
businesses and is getting ready to bring its widely used line of Office software online.
IBM and Oracle are launching new SaaS products for mid- to large-sized corporations, while SAP has tried to put out a line of
accounting programs for small to mid-sized companies.
And a string of smaller companies sell niche software to manage sales, marketing and human resources that they hope will become
the next big hit. They include Constant Contact Inc, Kenexa Corp, RightNow Technologies Inc, SuccessFactors Inc, Taleo Corp and
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Ultimate Software Group Inc. (Reporting by Jim Finkle; Editing by Tiffany Wu, Richard Chang)
CLOUDCOMPUTING/SAAS (ANALYSIS, REPEAT)|LANGEN|FUN

Document LBA0000020090506e556000px
3. INTERVIEW-Russia's MTS makes aggressive Internet push
686 words
1 May 2009
14:51
Reuters News
English
* MTS 3G coverage to double to 50 Russian cities by end-2009
* Web portal launched for music, video, games
* Aims to enter fixed-line broadband market this year
By Georgina Prodhan
LONDON, May 1 (Reuters) - Top Russian mobile operator Mobile TeleSystems is making an aggressive push into Web connections
and services, hoping to capitalise on low Internet penetration and the weakness of big global brands in Russia.
Chief Commercial Officer Mikhail Gerchuk said the company would double the number of large Russian cities in which it has
third-generation mobile networks to 50 by the end of the year, and was looking for chances to enter the fixed-line market.
MTS also sees a chance to dominate an emerging Russian market for mobile content such as music and video -- something that
has eluded Western counterparts -- and launched a beta version of an entertainment Web portal,
www.omlet.ru
, last week.
"We want to become what iTunes is for America," Gerchuk told Reuters in an interview, referring to Apple's online music store, from
which more than 6 billion songs have been bought and downloaded since it launched in 2001.
Gerchuk said the relatively low presence in Russia of global brands such as Apple, Google or Amazon would help MTS, which is 53
percent owned by services conglomerate Sistema , in its ambition.
These companies have leveraged their Internet strength to colonise mobile services markets in western Europe and the United
States, snatching potential revenue from under the noses of telecoms operators.
Gerchuk said the need to have certain types of bank accounts or credit cards to purchase goods or services from the Internet giants
meant they could not easily replicate that success in Russia.
MTS customers, on the other hand, can simply pay phone bills as normal or use prepaid cards to buy content from MTS.
More than 95 percent of Russian mobile phone users pay as they go, Gerchuk said. MTS, with under 90 percent pay-as-you-go,
has a higher proportion of contract customers than the average.
WEB VIRGINS
As well as providing lucrative music, games or video, MTS sees huge opportunities in simply connecting people to the Web. Only
about one in four Russians has Internet access, and most use dial-up, far slower than broadband.
"We have the opportunity to give many people the chance to access the Internet for the first time," Gerchuk said.
To that end, MTS is rapidly expanding its 3G network coverage and wants to enter the fixed-line market this year, either by buying
companies or by building its own. It has already started some pilot projects.
"Acquisition is faster than building for fixed networks, but it has to be profitable," Gerchuk said. MTS plans to invest $1.5 billion in
capital expenditures this year, including $450 million to develop infrastructure.
Outside Russia, by far its biggest market, MTS has 3G networks in Armenia and Uzbekistan. The company also has operations in
Ukraine, Belarus and Turkmenistan, and has more than 95 million subscribers in total.
Gerchuk said MTS would be interested in any 3G licences that may come up in countries where it is active, as well as any other
former-Soviet CIS countries.
MTS has also recently dipped a toe into the Indian market, franchising its brand to Sistema Shyam TeleServices there for a share of
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revenue, but providing no services itself.
MTS, whose annual sales are about $10 billion, was this week named the world's 71st most powerful brand and the top brand in
Russian and eastern Europe in the BRANDZ ranking published by the Financial Times and market research firm Millward Brown.
Gerchuk said MTS would have to monitor the situation in India before deciding whether to enter the market in earnest, and would
probably do through acquisition if at all.
"India is a very competitive market, with eight operators," he said. "There's also the possibility of entering the market by acquisition
-- probably the better option in a crowded market." (Editing by Andrew Macdonald)
MTS/INTERNET (INTERVIEW)|LANGEN|ABN|E|RBN
Document LBA0000020090501e551000t0
4. Business/Financial Desk; SECTB
Motorola Scrambles to Restore Its Lost Cellphone Glory
By MATT RICHTEL
905 words
01-May-2009
The New York Times
Late Edition - Final
1
English
Copyright 2009 The New York Times Company. All Rights Reserved.
Motorola has had its ups and downs. Fifteen years ago, a gray brick Motorola handset was synonymous with mobile phone. Sales
slipped, but the company came back five years ago with the sleek Razr, the must-have cellphone.
Motorola's cellphone sales are now falling almost 50 percent a year. Bereft of a smash hit, the company finds itself in its darkest
hour. Once responsible for half of the cellphone sales in the world, its share of the market has plummeted to 6 percent.
Industry analysts are questioning not whether Motorola will again become dominant but whether the handset division will survive.
''They're stuck heavily in the handset death spiral,'' said Edward Snyder, an analyst with Charter Equity Research. ''If they have tens
of billions of dollars they want to pour into this black hole, they might be able to save it. Even then, there are no guarantees.''
Sanjay K. Jha, Motorola's co-chief executive who was brought in from Qualcomm last year, still contends he can fix the handset
business. He said that for now, he was not interested in market share or hit products -- not with losses mounting. ''I'm interested in
break-even performance,'' he said in an interview. ''I'm trying to build a stable machine.''
''We need to have profits under all circumstances, and then have hits on top of that,'' he said Thursday after Motorola announced
that the operating loss in the handset division grew to $509 million in the first quarter from a loss of $418 million a year ago.
These are seemingly modest goals for a company that has strong brand recognition. But new tough competitors like LG, Samsung
and Apple have transformed the market with phones that can do anything a computer can do and more.
Motorola's first-quarter results demonstrated how challenging Mr. Jha's task is. The company said mobile device sales dropped 45
percent to $1.8 billion. It sold 14.7 million handsets, down from 27.4 million a year ago.
The company, including a more successful unit that makes set-top boxes and other electronic equipment, said the quarter's net loss
grew to $231 million, or 10 cents a share, on revenue of $5.37 billion. A year ago, Motorola, based in Schaumberg, Ill., had a net
loss of $194 million, or 9 cents a share on revenue of $7.4 billion.
A consensus of Wall Street analysts compiled by Thomson Reuters had projected Motorola would lose 11 cents a share, excluding
one-time charges. On that basis, the company reported a loss of 8 cents a share. The analysts projected sales of $5.6 billion for the
quarter.
Shares of Motorola fell 7.2 percent on Thursday to close at $5.53.
Todd Koffman, an industry analyst with Raymond James, who said he has a strong buy rating on Motorola stock, said that skeptics
were judging the company too quickly. Mr. Koffman said that Mr. Jha should be given more time to prove himself.
''This quarter's results are not relevant,'' Mr. Koffman said. ''The June quarter's results are not relevant.'' The real test for Motorola's
handset division will come in the second half of this year, he said, when the company releases handsets that have Mr. Jha's prints
all over them. ''To draw some sort of conclusion based on today's products is shortsighted,'' Mr. Koffman said.
Mr. Jha said that he needed to cut the losses and simultaneously build a series of new phones. In the current and next quarter, he
said in the interview, Motorola will begin shipping touch-screen phones, the kind Apple, Samsung and LG already have. In the fourth
quarter, Motorola will release ''a few'' phones based on Google's Android operating system, he said.
He declined to specify how many new phone models the company would release this year.
Introducing a host of phones is critical to Motorola's survival. Phone makers that do not come up with big hits or a constant flow of
midtier successes begin to lose the pricing power and influence with the mobile phone carriers like AT&T or Verizon that determine
which phones get into consumers' hands.
Roger Entner, an industry analyst with Nielsen, said a vivid example of Motorola's struggles was the release early this year of its
phone called the Evoke. The device, meant to compete in the growing smartphone category, was not picked up by the big carriers,
like AT&T, Verizon, Sprint or T-Mobile, but by smaller carriers, like Alltel.
''The niche that Evoke is filling is already filled by several other phones,'' Mr. Entner said. Motorola ''continues to develop late on
products.'' Motorola is pushing its first touch-screen device as other companies are working on second- and third-generation
devices, he said.
''Motorola is not one of those companies that can blame its woes on the economy,'' he said. ''It's purely self-inflicted.''
Page 97 of 108
James Kelleher, an analyst with Argus Research, said Mr. Jha's more modest goals are appropriate. Success, Mr. Kelleher said,
might be defined as being a strong regional player that settles for less than 10 percent of worldwide market share.
''The analogy is General Motors,'' he said. ''They once had 50 percent market share and they're not getting it back.''
Document NYTF000020090501e55100064
5. Technology
Apple's tasty apps click with one billion.
IAN CAMPBELL
473 words
01-May-2009
Irish Times
7
English
(c) 2009, The Irish Times.
APPLE’S APPSTORE has just passed the one billion downloads of software applications that run on the iPhone and iPod Touch.
Thousands of developers have created software for the service contributing over 15,000 free and paid-for applications, including
EyeSpyFX, a Derry-based start-up run by Anthony Hutton, a senior lecturer at the University of Ulster.
Over a decade ago Mr Hutton was working on a web-based robotics programme that slowly evolved into the webcam application
that has found commercial success thanks to Apple.
The software turns the iPhone into a monitor for viewing streaming video images over a 3G connection. Used for home security or
baby and pet monitoring, the user can pan and tilt the webcam remotely to change the view. EyeSpyFX has sold thousands of
copies at $4.99 (€3.76) a download, sometimes hundreds in a day.
After a thorough vetting process, Apple offers developers a shopfront on iTunes, with a 70/30 split in the developer’s favour. Many
apps are free – like the Carlsberg iPint which depicts a disappearing jar of lager when the iPhone is tilted – while the rest are
typically priced between 75c and €5.
“It’s been a revolution,” said Mr Hutton. “Up until AppsStore, mobile phone companies more or less controlled the content that was
on the phone and suppliers like us had nowhere to go except through a very circuitous route. Then along came Apple and turned
the mobile industry upside down.”
True to the Apple tradition, the store sells applications that are simple to download and easy to use. And because Apple refused to
relinquish control of iPhone content to mobile operators it has been able to create a “walled garden” for wide-ranging content that
has caught the imagination of consumers and developers.
Chart-topping applications, listed on iTunes, gain their own momentum and good reviews are also important, according to Mr
Hutton. “You spend all your time being scared stiff of bad comments. Very often they are unfair or something has been
misunderstood, but you have to live with it.”
He said it can be a lucrative and direct route to market for developers but played down the idea that it creates overnight millionaires,
pointing out that the developer of iFart, a range of flatulence audio samples that made nearly $10,000 a day at its peak, was
working on the idea for many years before he struck gold.
“People don’t come out of nowhere with these ideas; the guy behind that one had a long legacy in farting,” he said.
Such has been Apple’s success that that Nokia Ovi, Android Market from Google and apps stores from Microsoft and BlackBerry
will all hope to grab a piece of a fast emerging business.
Document IRTI000020090501e5510002k
Earnings
Earnings
1. Tech Stocks
News & Commentary
Techs keep mild gains despite hardware slump; Cisco down ahead of earnings report; Amazon swings on new Kindle
Dan Gallagher, MarketWatch
Page 98 of 108
MarketWatch; mailto:dgallagher@marketwatch.com; Dan Gallagher is MarketWatch's technology editor, based in San Francisco.
345 words
6 May 2009
23:08
MarketWatch
English
Copyright 2009 MarketWatch, Inc. All Rights Reserved.
Technology stocks closed Wednesday with mild gains despite weakness in the IT hardware sector ahead of Cisco's quarterly
earnings report.
SAN FRANCISCO (MarketWatch) -- Technology stocks ended Wednesday with mild gains despite some earlier swings ahead of
the sector's next major quarterly earnings report from Cisco Systems Inc.
The Nasdaq Composite Index (COMP, US) closed up 0.3% at 1,759. The Morgan Stanley High Tech 35 Index (MSH, US) advanced
0.5%.
Meanwhile, shares of Cisco (CSCO, US) lost about 0.1% ahead of its quarter earnings report, which hit after the closing bell. The
network-equipment giant managed to beat Wall Street's earnings estimates but still issued a cautious forecast for the current period.
(RELATED ARTICLE: Cisco reports lower profit, but beats estimates)
Other large-cap makers of tech hardware slumped, including IBM Corp. (IBM, US), Hewlett-Packard (HPQ, US) and Apple (AAPL,
US). Dell (DELL, US) closed the session up slightly.
Big Internet names Amazon.com (AMZN, US), Yahoo (YHOO, US) and Google closed in the green. Amazon shares were up a
fraction after the company launched a new, large-screen version of its popular Kindle e-book reader that will sell for $489.
(RELATED ARTICLE: Amazon debuts new large-screen Kindle DX)
Shares of Garmin Ltd. (GRMN, US) skidded more than 14% after the maker of GPS gear reported a 67% decline in net income for
the first quarter, on slumping demand.
Chip stocks managed some gains by the end of the session, with the Philadelphia Semiconductor Index ($SOX, US) up 0.7%. Intel
(INTC, US) and Advanced Micro Devices (AMD, US) saw mild losses while Texas Instruments (TXN, US) picked up 2.5%.
Technology stocks closed Wednesday with mild gains despite weakness in the IT hardware sector ahead of Cisco's quarterly
earnings report.|103
Document MRKWC00020090506e556002gy
2. 'mktg, inc.' Announces Earnings Release Date and Conference Call For Fiscal 2008 and First, Second and Third Quarters
of Fiscal 2009 Financial Results
391 words
6 May 2009
19:18
PR Newswire (U.S.)
English
NEW YORK, May 6 /PRNewswire-FirstCall/ -- 'mktg, inc.' (Nasdaq: CMKG) announced today that after the market close on Friday,
May 8, 2009, it will issue restated financial results for its fiscal 2008 ending March 31, 2008 and for the first quarter of fiscal 2009
ending on June 30, 2008. On November 14, 2008, the Company had announced that the prior filings should no longer be relied
upon and that they may need to be restated. Additionally, the Company will file its 10Q's for the second and third quarters of fiscal
2009 ended September 30, 2008 and December 31, 2008, respectively.
In addition to issuing a press release, the Company will host a conference call for all interested parties on Monday, May 11, 2009 at
4:30 PM (Eastern Time) to review the results. To participate in the call, please dial 866-393-7581 in US & Canada or 706-902-3737
internationally. An audio only webcast will be available at
http://www.videonewswire.com/event.asp?id=58714
A replay of the conference call will be available for two weeks starting approximately 2 hours after the end of the call, until midnight
on Wednesday, May 20. To access this replay, dial 800-642-1687 (US & Canada) or 706-645-9291 (international) at any time
during that period and use conference ID #97853387. A replay will also be available through our web site, at
www.mktg.com
about 'mktg'
'mktg' (Nasdaq: CMKG) is an alternative media and marketing services company headquartered in New York with full service offices
in San Francisco, Chicago, Cincinnati and Toronto. The company currently serves a variety of the world's most recognizable
brands, including Diageo, P&G, Nintendo, Pepsi, Nike, Apple, Coty, Scottrade, SAP and Google/YouTube. The company's services
Page 99 of 108
include experiential marketing, digital marketing, retail promotions and strategic research and planning. The firm's programs help its
clients profitably connect with consumers and create networks of brand advocates to generate brand awareness and higher sales
for its customers. For more information, please visit www.mktg.com.
SOURCE 'mktg, inc.'
James Haughton, +1-212-660-3802, jhaughton@mktg.com

200905061318PR_NEWS_USPR_____NY12260.xml
Document PRN0000020090506e5560073p
3. Business
Disney slides as consumers trim leisure spending
Christine Seib New York Susan Thompson

414 words
06-May-2009
The Times
2
45
English
(c) 2009 Times Newspapers Limited. All rights reserved
Profits of the Walt Disney Company slid 46 per cent in its second quarter as consumers crunched by the recession cut back on
entertainment. However, its results narrowly beat Wall Street forecasts and its shares rose.
Disney made net income of $613 million (£406 million), or 33 cents per share, in the three months to March 28, down from $1.1
billion in the same period last year. Revenues fell by 7 per cent to $8 billion.
Robert Iger, president and chief executive, admitted that it had been a difficult quarter, but said that Disney's creativity and strong
brands would perform well when the economy picks up. "We had a difficult second quarter due to the weak economy and other
factors," Mr Iger said. "At the same time, we remain focused on our core business strategy and believe our creativity, brands and
businesses will serve us well as the economy recovers." The group's film business suffered the worst, with revenues down 21 per
cent to $1.4 billion as productions such as Beverly Hills Chihuahua failed to excite home-entertainment consumers as much as
Oscar winners such as 2008's No Country for Old Men.
Disney's resorts also struggled from falling revenue, down 12 per cent to $2.4 billion as job losses and falling house prices forced
Americans to trim holiday spending. The group also cut ticket prices. Disneyland Resort Paris experienced a fall in visitor spending.
Revenues for consumer products rose 9 per cent to $496 million after the group bought back the 220-store chain of Disney Stores
North America from Children's Place Retail last year.
Revenues of the media networks division rose 2 per cent to $3.6 billion on growth in its ESPN, ABC Family and Disney channels.
Analysts had expected earnings, excluding one-off items, of 40 cents a share, on revenue of $8.14 billion. Disney shares closed at
$23.15, up 1.3 per cent, before the earnings report, and rose another 99 cents, or 4.3 per cent, to $24.14, in after-hours trading..
Screen move
To generate new revenue, Disney has deals to put clips of its shows on Google's YouTube. It also bought a stake in Hulu.com, set
up by NBC Universal and News Corp; TV shows from Disney's ABC will go on the video website, available only in the US.
Document T000000020090506e556000ax
4. Disney's quarterly income plunges 46 percent on declines at studio, theme parks
By RYAN NAKASHIMA
AP Business Writer
681 words
6 May 2009
02:17
English
LOS ANGELES (AP) - The Walt Disney Co. said Tuesday its second-quarter net income fell 46 percent, dragged down by an
underperforming movie slate and the impact of the recession on its theme parks. But its results narrowly beat Wall Street forecasts
and shares rose.
The family entertainment giant's profit in the quarter through March 28 was $613 million, or 33 cents per share. That was down from
$1.13 billion, or 58 cents per share, a year earlier.
Revenue fell 7 percent to $8.09 billion.
The company said its studio was to blame for a 97 percent drop in movie profits, despite strong industrywide box office revenues in
the U.S. and Canada, which are up 16 percent so far this year.
Among its disappointments was "Confessions of a Shopaholic," which came out in February amid the
Page 100 of 108

recession.
"It's not the marketplace. It's our slate," Chief Executive Bob Iger told analysts on a conference call. "After posting strong results last
year, studio performance was disappointing, something they would be the first to admit."
Disney booked about $305 million in charges in the quarter, including $102 million in restructuring costs, about half of which came
from cutting some 1,900 positions at its parks division.
Excluding restructuring charges and other items, the earnings fell to 43 cents per share, just above analyst expectations for 40
cents per share, according to Thomson Reuters. Analysts expected slightly higher revenue, $8.15 billion.
Disney shares closed at $23.15, up 1.3 percent, before the earnings report, and rose another 90 cents, or 3.9 percent, to $24.05 in
after-hours trading.
Studio operating profits fell to $13 million from $377 million as theatrical releases such as "Bedtime Stories" and "Race to Witch
Mountain" did not fare as well as movies that came out in the same period a year ago, such as "National Treasure 2: Book of
Secrets," and "Hannah Montana/Miley Cyrus: Best of Both Worlds." Home video movie sales were also hurt by a weaker lineup.
Revenue at the studio fell 21 percent to $1.44 billion.
Disney said the recession led visitors to spend less money in its theme parks, though U.S. attendance was even with last year
because of heavy discounting. Parks and resorts operating profits fell 50 percent to $171 million, while revenue dipped 12 percent
to $2.41 billion.
Attendance was down 1 percent at Walt Disney World in Orlando, Florida, but up 2 percent at the Disneyland parks in Anaheim,
California. Spending per visitor to the U.S. parks fell 6 percent overall.
Iger said talks with the Hong Kong government to expand its theme park there "have been productive." Results improved versus a
year ago. Meanwhile, the company is awaiting word from China's central government about building a theme park in Shanghai, he
said.
Consumer products revenue grew 9 percent to $496 million, but operating profit fell 24 percent to $97 million. The revenue boost,
which came from taking back ownership of Disney Stores in North America, also led to lower merchandise licensing royalties.
Interactive Media revenue for the quarter fell 17 percent to $129 million. The operating loss widened by 2 percent to $61 million.
Disney said last week it would make older Disney movies and ABC shows available on Hulu.com, while taking an equity stake
alongside NBC Universal and News Corp.
Iger said the company chose to make its content available on Hulu's ad-supported free platform over Google Inc.'s YouTube partly
because Hulu was better suited to long-form content and allowed Disney to take part ownership.
But he said Disney would continue to make its content available online in multiple ways to capture younger audiences, including
through an online subscription service it is developing.
"The possibility of our long-form content ending up on the YouTube platform still exists, by the way," he said.
7
image/jpeg: 411b8714-cf83-469c-be09-73dd7411c619
Document APRS000020090506e55600022
5. Craft Brewers Alliance Announces First Quarter 2009 Earnings Conference Call
433 words
6 May 2009
01:52
Business Wire
English
PORTLAND, Ore. - (BUSINESS WIRE) - CRAFT BREWERS ALLIANCE, INC. (formerly Redhook Ale Brewery, Incorporated)
(Nasdaq: HOOK) has scheduled a question and answer conference call for Tuesday, May 19, 2009 at 8:30 a.m. PDT (11:30 a.m.
EDT). The purpose of the conference call is to answer questions related to the Company’s results for the first quarter ended March
31, 2009, which will be summarized in its quarterly report on Form 10-Q to be filed with the Securities and Exchange Commission
on May 15, 2009.
The conference call will be available either through webcast or dial-in. The webcast can be accessed through the Company’s
website, http://www.craftbrewers.com/ (select Investors – Event Calendar). Individual investors can also listen to the call through the
Thomson StreetEvents individual investor center at http://www.earnings.com or other Internet portals such as Yahoo! and Google.
The conference call can also be accessed by telephone at 866-700-7173 or 617-213-8838 for international callers (passcode
97166528).
For those who cannot listen to the live broadcast, a replay of the call will be available both on the Internet and by telephone at
888-286-8010 or 617-801-6888 for international callers (passcode 84339454).
The SEC filings for Craft Brewers Alliance can be accessed at the Company’s website,
http://www.craftbrewers.com/
(select Investors – SEC Filings). To automatically receive email alerts, register at
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http://www.craftbrewers.com/
(select Investors – Email Alerts).
About Craft Brewers Alliance – Craft Brewers Alliance, Inc. operates the Widmer Brothers brewery in Portland, Ore., and Redhook
breweries in Woodinville, Wash., and Portsmouth, N.H. The Company distributes its award-winning products and those of Kona
Brewing Company throughout the United States through a network of wholesale distributors and a distribution alliance with
Anheuser-Busch, Incorporated. The Company was named as the seventh largest U.S. brewer based on domestic shipments for
2008. Redhook, at the forefront of the domestic craft brewing segment since its formation in 1981, is widely recognized for brewing
excellence at domestic and international brewing competitions. Widmer Brothers was founded by brothers Kurt and Rob Widmer in
1984. Widmer Brothers was among the first brewers to introduce U.S. consumers to the American Wheat beer style largely through
the popularity of its award-winning flagship beer, Widmer Hefeweizen, an unfiltered wheat beer typically served with a lemon. For
more information, visit www.craftbrewers.com.
Craft Brewers Alliance, Inc. Director of SEC Reporting/Investor

Relations Patrick Green, 503-331-7275 Investor.Relations@craftbrewers.com
Document BWR0000020090505e55500c6x
Mergers and Acquisitions/Ownership Changes
Mergers and Acquisitions/Ownership Changes
1. Medco Health Solutions, Inc . And Google Health Announces Collaboration

Reuters Significant Developments, 06-Apr-2009, 128 words, (English)
Date Announced: 20090406 Medco Health Solutions, Inc . and Google Health are working for strives to deliver electronic health
records for all Americans. The companies' collaboration enables Medco's more than 60 million members to construct their own
online personal health record (PHR), effectively creating a secure and private place for their health information to be stored. Those
members who choose to create a Google Health profile, which can contain both pharmacy and medical record data, and authorize
Medco to transfer their prescription information into the profile, can then use it to share their information with physicians or other
health care providers to ensure those providers are working with the most current and accurate information.
2. Google Inc . Could Be In Talks To Buy Twitter-Reuters

Date Announced: 20090403 Reuters reported that according to The TechCrunch website, Google Inc . may be in talks to buy
internet start up Twitter, the free micro blogging service that allows people to send short text messages to a network of friends.
TechCrunch's article by Michael Arrington said the two companies are also considering working together on a Google real time
search engine. Google would pay for Twitter in cash or stock or a combination of the two.
3. Seat Pagine Gialle S.p.A . Announces Strategic Alliance with Google Inc . to Bring Italian SMEs Online
Reuters Significant Developments, 25-Mar-2009, 172 words, (English)
Date Announced: 20090325 Seat Pagine Gialle S.p.A . announced that it has signed a partnership with Google Inc ., whereby
Seat Pagine Gialle S.p.A . becomes an authorized retailer in Italy of Google AdWords, the advertising program designed for
businesses to promote their products or services on the search engine of the U.S. based company. Thanks to this alliance, Seat
Pagine Gialle S.p.A . will offer Italian SMEs the chance to plan online advertising campaigns through the Google Inc . platform. As
a Google AdWords Authorized Reseller, Seat Pagine Gialle S.p.A . will guarantee advertisers consultancy, including planning the
campaign, incorporating other forms of Web communications, activating the service and monitoring results. The Google AdWords
program will be incorporated into the Pgclick offer, the Seat Pagine Gialle S.p.A .'s keyword advertising service targeting the
customers of the Seat Pagine Gialle S.p.A .'s website.
4. Google Inc .'s YouTube And Universal Talk On Music Video Site-Reuters
Date Announced: 20090305 Reuters reported that, Google Inc .'s YouTube and Universal Music Group are in talks to create an
online music video service.
5. Google Inc . Exits Radio Advertising Business-DJ

Reuters Significant Developments, 12-Feb-2009, 62 words, (English)
Date Announced: 20090212 Dow Jones reported that, Google Inc . said that it was exiting the radio advertising business, the latest
in a series of cost cutting measures at the Company. The Company said it was closing its Google Audio Ads product and seek to
sell its Google Radio Automation business.
Bankruptcy
Bankruptcy
No results.
Performance
Performance
Page 102 of 108

1. Google Inc . Shares Rise Sharply on Report of Higher Profit than Expected-Reuters
Reuters Significant Developments, 17-Oct-2008, 128 words, (English)
Date Announced: 20081017 Reuters reported that Google Inc .'s profits surpassed Wall Street quarterly forecasts, sending its
shares up sharply. Web traffic and revenue growth were strong in all major parts of the world and searches were up for almost
every industry using Google . Net income for the third quarter rose to $1.35 billion, or $4.24 a diluted share, from $1.07 billion, or
$3.38 per share. Revenue, including commissions paid to affiliated advertising sites, totaled $5.54 billion, up 31% from the
year-earlier quarter but up only 3% from the second quarter of this year. The results were powered by international sales, which
rose 41%.
Corporate/Management Changes
Corporate/Management Changes
No results.
1. Google Inc . Launches Tool To Search US Government Data On Web-DJ

Date Announced: 20090428 Dow Jones reported that Google Inc . launched a search tool designed to mine public data on U.S.
government Web sites, The Washington Post reported. Google Public Data will roll out with data on U.S. population and
unemployment from the Census Bureau and the Bureau of Labor Statistics, followed by information from other agencies in the
coming months.
2. Oracle Corporation Introduces Oracle Gadget Wizard

Date Announced: 20090408 Oracle Corporation announced that it has introduced Oracle Gadget Wizard for Google Apps and
support for Google 's Secure Data Connector with the debuts of Siebel CRM support for Google Apps and Oracle Gadget Wizard
for Google Apps. The close collaboration between Oracle and Google enables customers to build and deploy Oracle gadgets
in Google Sites allowing easy and seamless scaling of applications to several million users without the worry about infrastructure
management.
3. Google Inc .'s YouTube And Universal Talk On Music Video Site-Reuters
Date Announced: 20090305 Reuters reported that, Google Inc .'s YouTube and Universal Music Group are in talks to create an
online music video service.
4. IBM Corporation Teams With Google And Continua Health Alliance To Move Data From Remote Personal Medical
Devices Into Google Health
Date Announced: 20090205 IBM Corporation, in collaboration with Google and the Continua Health Alliance, announced a new
software that will enable personal medical devices used for patient monitoring, screening and routine evaluation to automatically
stream data results into a patient's Google Health Account or other personal health record (PHR). This extends the value of PHRs
to consumers and also helps to ensure that such records are current and accurate at all times. Once stored in a PHR, the data can
also be shared with physicians and other members of the extended care network at a user's discretion. Using IBM Corporation
software to connect personal medical devices to Google Health and other health-record systems will allow patients to exchange vital
health information with their doctors and other health services professionals more easily, and in real-time. As a result, health
professionals can provide more timely feedback to patients on their conditions, suggest treatments, and help improve overall quality
of life.
5. Google Inc .'s YouTube To Sell Music, Games-Reuters

Date Announced: 20081007 Reuters reported that Google Inc .'s YouTube will start to sell music and video games and experiment
with new advertising formats to grow revenue. You Tube is taking the first steps toward building an e-commerce service through
which it will sell music, films, TV shows, video games, books, concert tickets and other media-related products featured on the
millions of videos on YouTube. YouTube users will also be able to buy video games, such as Electronic Arts Inc 's sci-fi game
'Spore' through the Amazon link. One format with which YouTube is experimenting is InVideo advertising, which runs text ads along
the bottom of videos as they play. Other formats include contests sponsored by advertisers and home page video ads. It is also
betting that its video ID system will help drive advertising. Video ID enables content owners, such as music and TV producers, to
know when copies of their video clips are uploaded to YouTube by users,
Funding/Capital
Funding/Capital
Page 103 of 108

1. Google Inc. Seeks To Cash Out Of AOL Stake-DJ

Date Announced: 20090204 Dow Jones reported that Google Inc. has asked Time Warner Inc. to buy back its 5% stake in AOL at
current market values, reflecting continued deterioration in AOL's business prospects.
Regulation/Government Policy
Regulation/Government Policy
1. Google Inc ., Inventor, Settle Voicemail Patent Dispute-Reuters

Date Announced: 20090309 Reuters reported that an inventor noted for holding patents on visual voicemail systems said he
agreed to settle an intellectual property claim he brought against Google Inc . Judah Klausner, of Klausner Technologies Inc.,
declined to disclose terms of the settlement, but said the dispute centered on visual voicemail - which makes voicemail work more
like email. Google now is free to use his patents, Klausner said.
2. US Judge Gives Initial OK To Google Inc .-Publishers Pact-DJ

Reuters Significant Developments, 18-Nov-2008, 123 words, (English)
Date Announced: 20081118 Dow Jones reported that a federal judge granted preliminary approval to a $125 million settlement
between Google Inc . and authors and book publishers in lawsuits over digital copies of copyrighted books on the Internet. In an
order U.S. District Judge John E. Sprizzo in Manhattan initially signed off on the settlement, in which individuals and institutions will
be able to buy online access to copyrighted, out-of-print books through Google . Free access also will be provided to public and
higher education libraries under the settlement. A fairness hearing, in anticipation of final approval of the settlement, is scheduled
for June 11, 2008.
3. Google Inc . To Pay $125 Million To Settle Online Copyright Dispute-DJ

Date Announced: 20081028 Dow Jones reported that Google Inc . will pay $125 million under a settlement to resolve lawsuits
challenging the Internet search giant's plan to digitize, search and show snippets of copyrighted books without the explicit consent
of the copyright owner. The pact, which is subject to the approval of a New York federal court, will resolve a 2005 class-action
lawsuit brought by book authors and the Authors Guild and a separate case filed the same year by five publishers McGraw-Hill Cos
., Pearson PLC 's Pearson Education Inc . and Penguin Group (USA) Inc ., John Wiley & Sons Inc . and CBS Corp .'s Simon &
Schuster Inc . If approved, the agreement would expand online access to millions of copyrighted books and other written materials
from the collections of libraries participating in Google Book Search - a project intended to make millions of books searchable via
the Web - while also compensating copyright owners for allowing online access to their works. Google 's $125 million payment will
be partially used to establish a Book Rights Registery under which holders of U.S. copyrights can register their works and receive
compensation from institutional subscriptions, book sales and ad revenues. The settlement will also be used to resolve existing
claims by authors and publishers and to cover legal fees.
4. Inventor Sues Google Inc., Verizon Communications , Others On Voicemail-Reuters

Reuters Significant Developments, 26-Aug-2008, 94 words, (English)
Date Announced: 20080826 Reuters reported that inventor Judah Klausner filed a new voicemail patent lawsuit against Google Inc
., Verizon Communications and others. The inventor's company, Klausner Technologies Inc, also named as defendants LG
Electronics Inc ., Comverse Technology, Inc ., Citrix Systems, Inc ., Embarq Corporation in a patent infringement complaint filed
in U.S. District Court in Tyler, Texas, according to a court filing. Privately held Klausner has not disclosed financial details of the
settlements or related patent licensing deals.
5. GraphOn Corporation Files Lawsuit against Google For Patent Infringement

Reuters Significant Developments, 18-Aug-2008, 211 words, (English)
Date Announced: 20080818 GraphOn Corporation announced that it has filed a lawsuit against Google Inc . alleging infringement
of four GraphOn patents. The complaint, filed in United States District Court in the Eastern District of Texas, alleges infringement of
U.S. Patent Nos. 6,324,538 (the 538 patent), 6,850,940 (the 940 patent), 7,028,034 (the 034 patent) and 7,269,591 (the 591 patent)
which protect GraphOn's method of maintaining an automated and network-accessible database. The suit alleges that Google 's
Base, AdWords, Blogger, Sites and YouTube online services infringe the GraphOn patents. The suit seeks permanent injunctive
relief along with unspecified damages. This lawsuit follows the filing of a lawsuit against AutoTrader.com, Inc. in November 2005
claiming infringement of the '538 and '940 patents, the filing of a lawsuit against Juniper. GraphOn obtained the '538 and '940
patents and the applications that resulted in the '034 and '591 patents as part of its acquisition of Network Engineering Software,
Inc . (NES) in February 2005. In addition to the subject patents, GraphOn acquired intellectual property, other patents, and other
patent applications resulting from more than ten years of development effort by NES
Market Changes
Market Changes
No results.
Corporate Family
Corporate Family
Page 104 of 108

Total Corporate Family Members: 94 Excluding Branches: 51

Global Ultimate: Google Inc.; Mountain View, CA, 94043-1351, USA; Location Type: Headquarters; Dow Jones Industry: Online
News/Business Information
Company Name Location Type City State Postal Region(s) Dow Jones
Code Industry
Classification
"obcanske Sdruzeni O2.Cz" Subsidiary Praha 3 13000-3000 Czech Republic Professional/Lab
or/Political
Bodies
Applied Semantics Inc Subsidiary Santa Monica CA 90401-1610 USA Advertising
Click Holding Corp. Principal New York NY 10011-5210 USA Advertising
Subsidiary
Doubleclick Inc. Principal New York NY 10011-5210 USA Advertising
Subsidiary
Doubleclick Inc Branch Morrisville NC 27560-9693 USA Advertising
Doubleclick Inc. Branch Broomfield CO 80021-3436 USA Advertising
Doubleclick Inc. Branch San Francisco CA 94105-1689 USA Advertising
Doubleclick Inc. Branch Morrisville NC 27560-7205 USA Advertising
Doubleclick Inc. Branch San Mateo CA 94403-1161 USA Advertising
Doubleclick Inc. Branch Saint Marys PA 15857-1779 USA Advertising
Doubleclick Inc. Branch Thornton CO 80241-3120 USA Advertising
Doubleclick International Principal Dublin 3-3 Ireland Advertising
Internet Advertising Subsidiary
Limited
Digital Advertising & Subsidiary London EC2M - England Business/Consu
Marketing Ltd 5SY mer Services
Double Click Espana Subsidiary Madrid 28046-8046 Spain Computer
Sa Programming
Doubleclick Europe Subsidiary London W2 4S- England Software
Ltd 4SA
Doubleclick Hispania Subsidiary Madrid 28046-8046 Spain Bars/Public
S.L. Houses
Doubleclick Subsidiary Dublin 3-3 Ireland Software
International Tech
Solutions Limited
Doubleclick Internet Subsidiary Dublin 3-3 Ireland
Ireland Ltd
Doubleclick Subsidiary Shanghai 20004-0041 China Advertising
Techsolutions
Falk Esolutions Gmbh Subsidiary ZÜrich ZH 8002-8002 Switzerland Software
Falk Esolutions Ltd Subsidiary London EC4A - England Amusement
3BF Parks/Arcades
Flashbase Inc Subsidiary New York NY 10011-5210 USA Computer
Services
Nasmedia Co. Ltd. Subsidiary Seoul SEO 13508-5080 Korea Rep Of Design Services
Protagona Inc Subsidiary Chicago IL 60606-3728 USA Software
Presidio Holdings Ltd Subsidiary London W8 5S- England Business/Consu
5SL mer Services
Shuangji Software Subsidiary Beijing 10002-0020 China Computer Stores
Technology Project (Beijing)
Co. Ltd.
Endoxon Ag Subsidiary Luzern LU 6003-6003 Switzerland Software
Ggle Portugal Lda Subsidiary Lisboa 1200---482 Portugal Advertising
Google Subsidiary Atlanta GA 30328-5662 USA Telecommunicati
ons
Google Inc Branch Kirkland WA 98033-8136 USA Online
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News/Business
Information
Google Inc Branch Ann Arbor MI 48104-2201 USA Online
News/Business
Information
Google Inc Branch Tempe AZ 85281-6810 USA Online
News/Business
Information
Google Inc Branch Pittsburgh PA 15213-3744 USA Online
News/Business
Information
Google Inc Branch Washington DC 20004-2505 USA Online
News/Business
Information
Google Inc Branch Seattle WA 98109-3598 USA Online
News/Business
Information
Google Inc Branch Phoenix AZ 85016-3424 USA Online
News/Business
Information
Google Australia Pty Ltd Subsidiary Sydney NSW 2000-2000 Australia Computer
Services
Google Denmark Aps Principal Kobenhavn 1360-1360 Denmark Advertising
Subsidiary
Google Denmark Aps Branch Arhus 8200-8200 Denmark Advertising
Google Finland Oy Principal Helsinki 00100-0100 Finland
Subsidiary
Jaiku Oy Subsidiary Helsinki 00100-0100 Finland
Google France Subsidiary Paris 75002-5002 France Computer
Services
Google Germany Gmbh Subsidiary Hamburg 20354-0354 Germany Design Services
Google Inc Branch Toronto ON M5J 2- 2S1 Canada Online
News/Business
Information
Google Inc Branch Waterloo ON N2L 6- 6H7 Canada Online
News/Business
Information
Google Inc. Branch Boston MA 02116-4329 USA Online
News/Business
Information
Google Inc. Branch Pasadena CA 91103-3628 USA Telecommunicati
ons
Google Inc. Branch Lenoir NC 28645-6103 USA Online
News/Business
Information
Google Inc. Branch The Dalles OR 97058-9740 USA Online
News/Business
Information
Google Inc. Branch Santa Monica CA 90401-1610 USA Online
News/Business
Information
Google Inc. Branch Irvine CA 92612-8448 USA Online
News/Business
Information
Google Inc. Branch Reston VA 20190-5318 USA Online
News/Business
Information
Google Inc. Branch Seattle WA 98121-2855 USA Online
News/Business
Information
Google Inc. Branch Elk Grove Village IL 60007-5737 USA Online
Page 106 of 108

News/Business
Information
Google Inc. Branch New York NY 10011-5225 USA Online
News/Business
Information
Google Inc. Branch Chicago IL 60611-4255 USA Online
News/Business
Information
Google Inc. Branch Englewood CO 80112-5812 USA Online
News/Business
Information
Google Inc. Branch Chicago IL 60654-6394 USA Online
News/Business
Information
Google Inc. Branch Southfield MI 48075-1152 USA Online
News/Business
Information
Google Inc. Branch Pittsburgh PA 15219-6405 USA Online
News/Business
Information
Google Inc. Branch San Francisco CA 94131-2704 USA Online
News/Business
Information
Google Inc. Branch Seattle WA 98103-8856 USA Online
News/Business
Information
Google Inc. Branch Atlanta GA 30309-3849 USA Online
News/Business
Information
Google Inc. Branch Cambridge MA 02142-1493 USA Online
News/Business
Information
Google Inc. Branch Denver CO 80237-2750 USA Online
News/Business
Information
Google Inc. Branch Mountain View CA 94043-1330 USA Online
News/Business
Information
Google Inc. Branch Birmingham MI 48009-3313 USA Online
News/Business
Information
Google International Llc Principal Mountain View CA 94043-1103 USA Telecommunicati
Subsidiary ons
Google Subsidiary Ciudad De 1107-1107 Argentina Computer
Buenos Aires Programming
Google (Hong Kong) Limited Subsidiary Central District HK Hong Kong
Google Belgium Nv Subsidiary Brussel 1000-1000 Belgium Computer
Services
Google India Private Limited Principal Hyderabad AP 50008-0081 India Computer
Subsidiary Programming
Google India Private Branch Gurgaon HAR India Computer
Limited Programming
Google India Private Branch New Delhi DEL 11004-0044 India Software
Limited
Google India Private Subsidiary Bangalore KAR 56000-0001 India Computer
Limited Programming
Google India Private Branch Mumbai MH 40002-0025 India Telecommunicati
Limited ons
Google Italy Srl Subsidiary Milano MI 20121-0121 Italy Software
Google Norway As Subsidiary Oslo 164-164 Norway Advertising
Google Poland Sp Z O O Subsidiary Warszawa 00-11--113 Poland Telecommunicati
Page 107 of 108

ons
Google Spain Sl. Subsidiary Madrid 28020-8020 Spain Advertising
Google Sweden Ab Principal Stockholm 111 2-1 21 Sweden Computer
Subsidiary Services
Google Sweden Ab Branch Luleå 977 7-7 75 Sweden Computer
Programming
Google Sweden Subsidiary Stockholm 114 3-4 35 Sweden Computer
Technique Ab Programming
Google Switzerland Gmbh Subsidiary ZÜrich ZH 8002-8002 Switzerland Software
Google International Llc Taiwan Subsidiary Taipei City TAP 11049-1049 Taiwan Online
Branch (U.S.A.) News/Business
Information
Google Japan Inc. Subsidiary Shibuya-Ku TKY 150-0-0031 Japan Online
News/Business
Information
Google Korea Ltd. Subsidiary Seoul SEO Korea Rep Of Online
News/Business
Information
Google México S. De R.L. De Subsidiary Ciudad De D.F. 11000-1000 Mexico Advertising
C.V. Mexico
Google Reklamcilik Ve Subsidiary Istanbul Turkey Advertising
Pazarlama Ltd Sti
Jotspot Inc Subsidiary Palo Alto CA 94301-1665 USA Computing
Postini Inc. Principal San Carlos CA 94070-2719 USA Telecommunicati
Subsidiary ons
Postini U K Ltd Subsidiary London E1 1L- 1LU England Business/Consu
mer Services
Youtube Inc. Subsidiary San Bruno CA 94066-2315 USA Telecommunicati
ons
Page 108 of 108

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Dow Jones Company Report

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Competition List from Reuters Research 5

Competition List from Datamonitor 5

Datamonitor Overview and History 5

Datamonitor Products and Services 7

Reuters Extended Business Description 8

Datamonitor Business Description 11

Officers and Executives 12

Datamonitor SWOT Analysis 18

Geographic Segment Breakdown 23

Ratio Comparison Report 24

Balance Sheet - Annual 25

Cash Flow - Annual 27

Income Statement - Annual 28

Balance Sheet - Interim/Quarterly 29

Cash Flow - Interim/Quarterly 30

Income Statement - Interim/Quarterly 31

Mergers and Acquisitions/Ownership Changes 102

Corporate/Management Changes 103

New Products/Services 103

Regulation/Government Policy 104

Market Changes 104

Corporate Family 104

Location Type: Headquarters

Auditor/Accountant: Ernst & Young LLP

Source: Reuters, Generate, Inc.

Dow Jones Industry: Internet Search Engines

Source: Reuters, D&B, Factiva

Competition List from Reuters Research

Competition List from Reuters Research

Source: Reuters Publication Date: 06-May-2009

Competition List from Datamonitor

Competition List from Datamonitor

Datamonitor Overview and History

Datamonitor Overview and History

The company's key products and services include the following:

Google Docs & Spreadsheets

Google Maps for Mobile

Datamonitor Products and Services

Datamonitor Products and Services

Sales by Business Segment

Reuters Extended Business Description

Reuters Extended Business Description

Source: Reuters Publication Date: 06-May-2009

Datamonitor Business Description

Datamonitor Business Description

Officers and Executives

Officers and Executives

Name Job Title

Institution Degree Major Year Degree Attained

Sergey Brin President - Technology, Director

Institution Degree Major Year Degree Attained

Larry Page President - Products, Director

Institution Degree Major Year Degree Attained

John Hennessy Lead Independent Director

Institution Degree Major Year Degree Attained

L. John Doerr Director

Institution Degree Major Year Degree Attained

Art Levinson Ph.D. Director

Institution Degree Major Year Degree Attained

Paul Otellini Director

Institution Degree Major Year Degree Attained