Archive for June, 2009

Microsoft Windows 7

Tuesday, June 2nd, 2009

Microsoft confirmed Windows 7 to launch on October 22.

Microsoft confirmed on Tuesday that it is planning for Windows 7 to hit retail shelves and start showing up on new PCs on October 22.

Microsoft revealed that it will complete development of Windows 7 in late July and then make the system broadly available to customers on October 22, 2009. (This is called General Availability, or GA).

To reach that milestone, Microsoft plans to wrap up development of the operating system by the middle or end of next month, Senior Vice President Bill Veghte said in an interview.

“The feedback from the release candidate has been good,” Veghte said.

Microsoft made the near-final release candidate version available last month. Shortly after its release, Microsoft finally confirmed that it was aiming Windows 7 for a holiday 2009 release, something that was widely anticipated, but not confirmed by those in Redmond.

In an interview, Phil McKinney, chief technology officer of Hewlett-Packard’s computer unit, said that he feels good about Microsoft’s launch date.

“We’re locked and loaded for the launch,” McKinney said. “The quality of code is just absolutely stellar.”

The software maker also confirmed, without giving details, that it plans to offer some sort of “technology guarantee” giving those who buy Vista machines close to the Windows 7 launch a free or discounted copy of the new operating system. As with past similar programs, details on pricing will be up to individual computer makers, although Microsoft did say the upgrade program will apply to Vista Home Premium and higher-priced editions (meaning not Windows Vista Basic).

The tech guarantee program is not beginning immediately, but Microsoft did raise the possibility it will offer some sort of lower-cost upgrade to those who are already using Windows Vista.

I’ve gotten a lot of e-mails suggesting Microsoft do something along those lines, but its comments this week were the first time I had heard it acknowledge that it was considering such a move.

As for the technology guarantee program, it likely means that Microsoft will do some deferring of Vista-related revenue, though Microsoft again did not spell out details.

“Depending on when we do it there will be the associated accounting for it,” Veghte said.

Microsoft has said that Windows 7 will come in five different editions in most markets–Starter, Home Premium, Professional, Enterprise and Ultimate. A “Windows 7 Basic” will also be sold in emerging markets, Microsoft said.

The software maker has yet to announce pricing for the product.

Microsoft launches new search engine bing

Monday, June 1st, 2009

Microsoft has forgone its Live search engine in favour of the newly launched Bing, now in beta. For those in the know, the service formerly went under the name of Kumo, which sounds better to us, but hey, a good engine is a good engine, and Bing does work well. 9af901df

The design overall is very similar to Google, even down to the preferences page. Like iGoogle, this one offers the option to link up with your e-mail, assuming it is provided by Microsoft. Though it doesn’t boast themes and gadgets like the former service, we would anticipate this to come once the beta is complete.

Impressions so far are good, and neat features like related searches (i.e. walkthroughs pop up if you search for a game), pop-up text (mouse over a search result and the page text appears, something Firefox plugins offer with Google), and a cashback program for shopping results are all welcome.

In terms of actual search quality, it’s more or less the same as Google. In any case, there’s plenty of depth to explore which may make it the superior choice for some in the end, especially as more functionality and improvements are brought to the table.

GM Will Ask Court Monday Tap Half Of Bankruptcy Loan

Monday, June 1st, 2009

NEW YORK -(Dow Jones)- General Motors Corp. (GM) will ask a bankruptcy judge Monday for permission to tap about half the $33 billion in bankruptcy financing being provided by the U.S. and Canadian governments.

Harvey Miller, an attorney for the auto maker, said at a court hearing that GM has just $2 billion in cash and that it has an “urgent” need to access the government loan.

The $33 billion in aid from the U.S. and Canada is intended to support GM during what it hopes will be a quick trip through bankruptcy. It plans to sell the bulk of its assets to a new company controlled by the U.S.

GM was in court Monday afternoon for the first time since filing for bankruptcy to ask Judge Robert Gerber of the U.S. Bankruptcy Court in Manhattan to approve routine requests, known as first-day motions, intended to allow it to continue operating.

Gerber approved GM’s request to make payments to troubled “critical” parts makers while in bankruptcy through a U.S. Treasury program for troubled parts makers and its own supplier-aid initiative.

The auto maker feared a collapse of any of its core suppliers would lead to a costly work stoppage. Top-tier suppliers Visteon Corp. (VSTN) and Metaldyne Corp. filed for bankruptcy protection recently amid turmoil in the U.S. auto industry. GM’s main supplier, Delphi Corp. (DPHIQ), has been in bankruptcy for almost four years.

Separately, the U.S. Trustee’s office, an arm of the Justice Department that monitors bankruptcy proceedings, announced at Monday’s hearing that GM’s unsecured creditors are scheduled to meet Wednesday at 10 a.m. EDT in New York. At that meeting, a committee will be formed to represent the creditors during the bankruptcy case.

The bankruptcy loan requires GM to win court approval for the sale of its assets by July 10. The financing comes on top of about $20 billion in loans provided to the auto maker by the U.S. Treasury Department.

The auto maker’s cash levels are now well below the amount it would need to operate on its own. Without the $20 billion in U.S. government loans GM received, the picture would be far worse.

GM had more than $24 billion in liquidity at the end of the first quarter a year ago, as the company’s non-U.S. operations helped offset multi-billion dollar losses in North America. At the end of March, GM had $11.6 billion in liquidity that was largely offset by federal loans.

Apple Releases iTunes 8.2 With iPhone 3.0 Support

Monday, June 1st, 2009

Apple is expected to release iPhone 3.0 out of beta at its upcoming World Wide Developers Conference.

By Antone Gonsalves From InformationWeek

Apple on Monday released iTunes 8.2 with support for iPhone 3.0, an indication that the latest smartphone operating system will be generally available soon.
While Apple has not made any official announcements, there’s been lots of speculation on the Web that Apple could release iPhone 3.0 out of beta at the World Wide Developers Conference in San Francisco next week. The iTunes support makes that scenario more likely.

Apple has been gradually preparing the industry of iPhone 3.0. Last month, the company told developers it would only accept for the App Store programs compatible for the upcoming OS.
Apple introduced iPhone 3.0 in March. Currently in beta, the software introduces a number of consumer-oriented features, including cut and paste, multimedia text capabilities and a universal search function. In addition, it opens the door for more innovative and lucrative apps by enabling in-app purchasing, peer-to-peer multiplayer capabilities and apps with third-party hardware.

Along with the iPhone 3.0 support, iTunes 8.2 also includes bug fixes and better security. The latter involves improved bounds checking to prevent a stack buffer overflow that could result in application termination or arbitrary code execution, Apple said.

Along with iPhone 3.0, Apple is also expected to use the WWDC to focus on the new version of Mac OS X, Snow Leopard. Apple Chief Executive Steve Jobs is not expected to participate in the opening keynote. Kicking off the San Francisco event will be a team of execs led by Philip Schiller, Apple’s senior VP of worldwide product marketing.

EMC’s $1.8 bln offer for Data Domain tops NetApp

Monday, June 1st, 2009

* EMC offers $30 per share/cash to buy Data Domain
* EMC’s offer a 20 percent premium to NetApp’s

* Data Domain shares rise in extended trade (Adds background, quotes, updated share prices)

NEW YORK, June 1 (Reuters) – EMC Corp (EMC.N) has offered to buy Data Domain Inc (DDUP.O) for $1.8 billion in cash, seeking to bolster its data back-up offerings and throwing a wrench into NetApp Inc’s (NTAP.O) plans to buy the data storage company for $1.5 billion.

EMC, the world’s largest maker of corporate data storage, is offering $30 a share for Data Domain, which represents a 20 percent premium to NetApp’s cash-and-stock offer, the company said in a statement issued after market close on Monday.

Data Domain shares jumped to $30.51 a share in after-hours trading from $26.35 at the close of regular trading.

In a letter to Data Domain Chief Executive Frank Slootman, EMC CEO Joseph Tucci said their offer is a “far superior alternative” to NetApp’s.

It also offers better deal certainty since it’s an all-cash offer, Tucci said, compared with NetApp’s cash-and-stock offer.

NetApp announced on May 20 it would buy Data Domain for $1.5 billion, or $25 per share in cash and stock. The breakup fee for that deal is $57 million, according to a filing.

Tucci also took issue with Data Domain, saying that EMC was not given the opportunity to explore a combination before the NetApp deal was announced, “particularly since I believe you should have been aware of our interest.”

A combination of EMC and Data Domain would offer customers comprehensive data archiving and back-up software as this sector consolidates, Tucci later said on a conference call.

“This acquisition is all about accelerating growth,” Tucci said.

ThinkEquity analyst Rajesh Ghai said an EMC acquisition made sense, perhaps even more so than one by NetApp.

“A player larger than NetApp with ostensibly a larger distribution base, such as EMC, could potentially leverage Data Domain more effectively than NetApp,” he said.

EMC said it will commence a tender offer for all outstanding Data Domain shares. EMC did not specify the timing of the tender offer, but officials said it would happen soon.

The deal would be add to 2010 earnings, and be neutral to 2009 earnings, EMC said.

NetApp and Data Domain officials were not immediately available for comment.
EMC shares closed Monday’s session up 5.7 percent at $12.42 on the New York Stock Exchange, while NetApp shares closed at $20.69 on the Nasdaq, up 6.1 percent. (Reporting by Anupreeta Das, Jim Finkle and Ritsuko Ando; Editing by Carol Bishopric)

SC gov hints that stimulus fight may soon end

Monday, June 1st, 2009

COLUMBIA, S.C. — A federal judge dealt a major blow Monday to Gov. Mark Sanford’s monthslong fight to stop South Carolina from taking $700 million in federal stimulus money, and the governor said the battle may be nearing an end.

“It looks like we will be bound to spend that money,” Sanford told reporters. “I would say that would be a very plausible outcome given the foreshadowing that’s been done today.”

The Republican with possible presidential aspirations has railed against President Barack Obama’s $787 billion bailout package, penning op-eds for national publications and appearing on television talk shows. But he’s dealt with protests at home, where educators have predicated massive teacher layoffs without the money for already cash-strapped schools.

The state Supreme Court is scheduled to hear arguments Wednesday in lawsuits filed by two students and the South Carolina Association of School Administrators that seek to force Sanford to take the cash. U.S. District Judge Joseph Anderson on Monday rejected Sanford’s efforts to get those suits into federal court.

“Hopefully we’ll get our answers now,” said Casey Edwards, one of the students who sued. She is to graduate from Chapin High School next week.

Sanford said he’ll go along with whatever the state court decides. He had sued state Attorney General Henry McMaster in federal court after the legislature overrode his veto of a budget that required him to accept the $700 million over two years. The judge made no decisions on that case, but Sanford said he’ll drop it if he loses the state Supreme Court fight.

“We’re not going to carry on with a whole series of legal appeals,” he said.

Kershaw County Schools Superintendent Frank Morgan said the news brought an “overwhelming feeling of relief. This has been such a long, long, long process. … I think we’ve put a lot of good people through a lot of stress and anxiety that I’m not sure was necessary.”

His district stands to get about $2 million of the $185 million slated to go schools around the state.

The news came the same day that thousands of would-be teachers packed a job fair where districts were only hiring 300 educators.

State Education Superintendent Jim Rex was glad there’d be no more legal delays.

“We need to resolve this fiasco in a way that doesn’t hurt kids. Every other state and governor is getting this done, and we need to get it done here, too,” Rex said in a prepared statement.

Sanford has refused to request the $700 million he controls unless it’s used to offset state debt. The White House twice rejected that approach.

Sanford thinks the federal stimulus law will devalue the dollar and saddle generations with debt. Judge Anderson was no fan of it either, saying it was poorly written. But he noted it was clear Congress intended to allow legislators to get around governors who didn’t want the money, citing the role that U.S. House Majority Whip Jim Clyburn, D-S.C., played in amending it.

Dick Harpootlian, the Columbia lawyer representing the students, said Sanford’s legal efforts had amounted to delay tactics.

And Anderson noted the odd nature of the whole affair, quoting James Petigru, a former state attorney general who remarked when South Carolina seceded from the Union in 1860 that it was too small to be a republic and “too big to be an insane asylum.”

Sanford noted the outcome likely weakens the powers of a governor’s office that’s already one of the weakest in the nation. Sanford’s limited role involves a Cabinet, appointments to boards, vetoes and whatever he can do with bully pulpit of the office.

He could have requested the money and avoided a court decision that could mean reduced powers. But he said one of his advisers dismissed the idea, saying “if you’re already naked, you’re naked. Just call an ace an ace and don’t try to pretend something is there that isn’t there.”

Sanofi has winning cancer drug, but short patent

Monday, June 1st, 2009

LONDON (Reuters) – Sanofi-Aventis may have bagged a winning cancer drug when it agreed to buy privately held BiPar Sciences for up to $500 million in April, but a short patent could limit the French group’s scope to cash in on sales.

BiPar’s BSI-201 has emerged as one of the most promising new products at this year’s ASCO cancer conference in Orlando, Florida, with positive mid-stage trial results helping lift Sanofi shares by more than 3 percent on Monday.

But there is a fly in the ointment. A Sanofi spokesman said on Monday that the main U.S. composition patent on the medicine was valid only until 2013, though this could be extended by five years.

In Europe, the patent runs to 2014 and Sanofi will have 10 years data exclusivity after approval.

“These facts probably explain the relatively modest agreed price for the BiPar deal,” analysts at Morgan Stanley said in a research note.

They estimate BSI-201 could sell between $1 billion and $4 billion a year to Sanofi’s 2016 revenues, with a U.S. launch as possible by late 2010.

On the face of it, that makes the price Sanofi’s new chief executive, Chris Viehbacher, paid for BiPar seem a bargain. The problem is the medicine could face generic competition in the world’s biggest pharmaceuticals market from 2018.

BSI-201 belongs to a new class of drugs that block a cell repair enzyme known as PARP.

It impressed doctors at the annual meeting of the American Society of Clinical Oncology (ASCO) on Sunday by improving survival by 60 percent compared with chemotherapy alone for women with tough-to-treat “triple negative breast cancer.”

Patients with triple negative metastatic breast cancer have tumors that do not express the hormones oestrogen or progesterone, as well as the protein HER-2.

These women, who account for 15 to 20 percent of breast cancer patients, have a very aggressive form of disease and there are currently no treatments other than chemotherapy.

Citigroup analyst Mark Dainty said the data for BSI-201 was significantly better than the results with Roche’s Avastin in triple negative patients and the new drug could put 20 to 25 percent of Avastin sales forecasts at risk.

Citi currently forecasts 2011 Avastin breast cancer sales at 1.7 billion Swiss francs ($1.6 billion) and losing 20 percent of this would slice some 2 percent off Roche’s 2011 earnings per shares.

AstraZeneca also has an experimental PARP inhibitor called olaparib that is further behind in development.