Feeds

'We're public now, so could you please click on an ad or two'

Plus: 'Disaster for Apple!'

Maximizing your infrastructure through virtualization

Quotw This was the week when Facebook stocks took an early drubbing in the market before recovering somewhat to a more stable, albeit reduced, price.

The social network wasn't able to find its feet in time to stop a slew of lawsuits from disgruntled investors who jointly and severally blame Facebook, Zuckerberg, the IPO underwriting banks, the NASDAQ stock exchange and the early angel investors for the rubbish debut.

The NASDAQ is in the firing line for technical glitches on the first day of trading that saw orders to buy and sell – as well as cancellations on those orders – delayed. This left investors unsure of how much stock they had and at what price they'd bought or sold it at.

The exchange held its hands up immediately, with its chief exec saying he was "humbly embarrassed" by the snafu.

He understated:

This was not our finest hour.

Chief Robert Greifeld added that the error had been so bad, the NASDAQ would be revamping its whole IPO process.

The New York-based stock exchange is pretty much resigned to paying up, having set aside some funds to deal with rightfully aggrieved investors. However, others in the suits are claiming innocence.

Morgan Stanley, one of the underwriters accused of changing its mind about its earnings forecast for Facebook, has denied any wrongdoing. The underwriter had altered its forecast in response to the social network's admission that it hadn't yet figured out how to make money from mobile customers and that its revenue growth wasn't keeping up with its subscribers.

The bank said that Facebook's risks were clearly laid out in its revised publically available prospectus and that is what made it change its forecasts:

In response to the information about business trends, a significant number of research analysts in the syndicate who were participating in investor education reduced their earnings views to reflect their estimate of the impact of the new information. These revised views were taken into account in the pricing of the IPO.

As is fairly standard operating procedure for a tech company under fire, Facebook itself has stayed mainly silent on its dreary coming out party, with chief operating officer Sheryl Sandberg ducking questions about it after a speech to Harvard University.

She did, however, find the time to shamelessly, and somewhat pitifully, try to get some revenue for the company, adding this to the end of her talk:

We're public now, so could you please click on an ad or two while you're there.

Meanwhile, Google is still facing le smackdown from French regulator CNIL, which remains unhappy about the web giant's newly amalgamated privacy policy.

The regulator has been trying to make sense of Google's answers to various questions it had on the policy and has not been satisfied yet:

The CNIL considers it impossible to know Google's processings of personal data, as well as the links between collected data, purposes and recipients, and that the obligation of information of the data subjects is not respected. The CNIL also notes that Google has not provided a maximum retention period for the data.

Over at Microsoft, there are probably a few staffers suffering from whiplash after the about-turn the bigwigs did on the Aero interface first introduced with Windows Vista.

Despite having once championed the design, which is still being used with Windows 7, Redmond has had a change of heart. It is apparently now of the view that Aero is lame.

Jensen Harris, director of program management for the Windows user experience team said in a blog post:

This style of simulating faux-realistic materials (such as glass or aluminum) on the screen looks dated and cheesy now, but at the time, it was very much en vogue.

Security specialist Eugene Kaspersky is still talking up the dangers of Apple's attitude to viruses. He previously said that Apple's popularity was making it a target and that security-wise it was where Microsoft was 10 years ago.

This week Kaspersky said he was peeved that Cupertino wouldn't let security firms develop solutions for its iOS and that this would spell its doom:

We as a security company are not able to develop true endpoint security for iOS. That will mean disaster for Apple.

It is much more difficult to infect iOS but it is possible and when it happens it will be the worst-case scenario because there will be no protection. The Apple SDK won’t let us do it.

And things took a turn for the frankly bizarre at SAP in the US, when one of its execs was nabbed by the cops for stealing LEGO. No, you didn't read that incorrectly.

Despite having a job at SAP's Palo Alto Labs Integration and Certification Center, the accused exec has been charged with four counts of burglary for seven boxes of LEGO worth around $1,000, pilfered through a surprisingly elaborate scheme.

The man allegedly swapped the shop's bar codes on the boxes with his own homemade versions that gave him a better price. He would then sell them at the right price on eBay.

Although he was only busted on four counts of theft, the exec may have made off with many more boxes of LEGO, NBC reported:

[Supervising deputy District Attorney Cindy] Hendrickson said they found "hundreds and hundreds" of LEGO boxes in his home. They also discovered that since last April, he had allegedly sold 2,100 LEGO items totaling about $30,000 on eBay using the handle "tomsbrickyard". Inside Langenbach's car, Hendrickson said, were 32 pre-made barcode stickers. ®

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.