Roundup: Salesforce, Lenovo departures; job-loss stock rallies
Here’s the latest action:
Three Salesforce executives depart — “Software-as-a-service” business software company Salesforce has seen three executives depart this last week, Reuters reports, including president Steve Cakebread and executive vice president for enterprise software sales Gary Hanna.
Stocks rise as U.S. jobless rate hits 7.6 percent — And if you count those who have stopped looking for work, the figure’s closer to 10 percent or higher, according to some calculations. Economists (perhaps tellingly) surveyed by the New York Times think the report is a further reason to pass a stimulus. Still, stocks have been bouncing back on the news — because Wall Street expected worse, and investors are perhaps getting used to bad news and putting their money in stocks regardless. Perhaps greed is starting to win out over fear, somehow.
Broadband stimulus faces ongoing congressional opposition — More here and here.
Jajah introduces calling service for iPods — The company has more here.
Venerable VC firm Venrock has shakeup in its Silicon Valley office, four partners moving on — We reported on the departure of Venrock partner Tony Sun yesterday. And, as we reported a couple of weeks ago, partner David Siminoff departed to work on a digital startup called Shmoop. PE Week has since learned of two other moves in the Palo Alto office: Rich Moran will transition into an executive-in-residence role within the next four or five months. Eric Copeland is expected to leave the partnership at around the same time. Venrock partner Mike Tyrrell told PE Week that each of the moves is a one-off and that the timing is simply coincidental. However, we’re hearing Tony Sun, for one, hadn’t had an exit for several years and that he’d have been pressured to step down had he not left voluntarily.
Dean Takahashi isn’t the only one who hates 3-D glasses — See here.
Legendary venture capitalist Arthur Rock and 28 others with San Francisco addresses had money with Madoff — More here.
William “Boots” Del Biaggio III pleads guilty to securities fraud — Bits has the gory details.
William Amelio resigns as president and chief executive of Lenovo — He’s the latest executive to leave recently; the company’s stock has since risen 11 percent.
News Corp. takes $2.8 billion write-down on Dow Jones (Wall Street Journal) purchase — Peter Kafka has a look at the SEC filing.
[Infographic via the New York Times.]
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