Japan Jan chip gear bookings fall 52 pct to 4-yr low
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| Orders for Japanese semiconductor-making equipment plunged in January to a
| four-year low as price falls dented memory makers' investment plans, an
| industry group said on Thursday.
|
| [..].
|
| The drop, to the lowest level since November 2003, underlines the failure of
| Microsoft Corp's Vista operating software, launched in January 2007, to spur
| new demand.
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http://www.reuters.com/article/marketsNews/idINTKG00294420080228?rpc=44
Microsoft: Pity the Big, Bad Wolf
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| I have a theory about the regulation of companies that get too big and too
| powerful: by the time government notices they really are so powerful, they
| are usually already in decline, having grown too big.
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http://seekingalpha.com/article/66400-microsoft-pity-the-big-bad-wolf?source=yahoo
People from inside the company have said that the company is "paralysed".
Related:
Debt in Disguise
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| The purpose of securitization is to make the credit rating of the company
| practically irrelevant in a financing, so that even in a bankruptcy the
| receivables cash flow will be protected....
|
| The rating agencies also rely greatly on legal constructs that say the
| payment stream to investors will not be hindered. For instance, the transfer
| of receivables to the SPE must be a "true sale." That is, the seller must not
| retain too much of the reward or the risk coming from the asset, says Robert
| Hahn, a partner with Hunton & Williams LLP. In addition, the SPE has to
| be "nonrecourse" — in other words, the company's creditors must not have
| claim to the assets of the SPE if the originating company goes bankrupt.
|
| "Securitization divorces the creditworthiness of the [company] from the
| credit of the pool," says Mark Spradling, a partner with Vinson & Elkings
| LLP. "True sale and nonconsolidation are part of that separation."
|
| But the opinion that legal control of receivables has passed to a third party
| has not been litigated in the bankruptcy courts....
|
| Tapping the capital markets without a lending bank in between means that even
| non-investment-grade companies can finance at near what triple-A companies
| pay.
`----
http://www.cfo.com/article.cfm/10013957/c_10203909?f=home_todayinfinance&x=1
Microsoft's 10-Q on the impact of litigation
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| Antitrust, unfair competition, and overcharge class actions. A large number
| of antitrust and unfair competition class action lawsuits have been filed
| against us in various state, federal, and Canadian courts on behalf of
| various classes of direct and indirect purchasers of our PC operating system
| and certain other software products. We obtained dismissals of damages claims
| of indirect purchasers under federal law and in 15 states. Courts refused to
| certify classes in two additional states. We have reached agreements to
| settle all claims that have been made to date in 19 states....
|
| Other antitrust litigation and claims. In November 2004, Novell, Inc. filed a
| complaint in U.S. District Court in Utah, now consolidated with other cases
| in Maryland, asserting antitrust and unfair competition claims against us
| related to Novell’s ownership of WordPerfect and other productivity
| applications during the period between June 1994 and March 1996. ...
|
| Patent and intellectual property claims. We are vigorously defending more
| than 45 patent infringement cases. ...
|
| Adverse outcomes in some or all of the matters described in this section may
| result in significant monetary damages or injunctive relief against us that
| would adversely affect distribution of our operating system or application
| products. We may enter into material settlements because of these risks. ...
|
| As of December 31, 2007, we had accrued aggregate liabilities of
| approximately $840 million in other current liabilities and approximately
| $660 million in other long-term liabilities for all of the contingent matters
| described in this note. While we intend to vigorously defend these matters,
| there exists the possibility of adverse outcomes that we estimate could be up
| to $4.1 billion in aggregate beyond recorded amounts. Were unfavorable final
| outcomes to occur, there exists the possibility of a material adverse impact
| on our financial position and on the results of operations for the period in
| which the effects become reasonably estimable.
`----
http://www.sec.gov/Archives/edgar/data/789019/000119312508011476/d10q.htm
EU May Fine Microsoft Over Antitrust Case, People Say
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| The fine may be announced as soon as Feb. 27, said the people, who declined
| to be identified because the decision isn't public. Microsoft said in a Jan.
| 24 U.S. regulatory filing that the penalty may be as much as 1.5 billion
| euros ($2.2 billion).
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http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=MSFT:US&sid=aG8SwG8llTmM
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