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"content": "\u003cp>By Peter Svensson\u003c/p>\n\u003cp>NEW YORK (AP) Hewlett-Packard Co. said on Tuesday that it's the victim of a multi-billion dollar fraud at the hands of a British company it bought last year that lied about its finances.\u003c/p>\n\u003cp>HP CEO Meg Whitman said executives at Autonomy Corporation PLC \"willfully\" boosted the company's figures through various accounting tricks, which convinced HP to pay $9.7 billion for the company in October 2011.\u003c/p>\n\u003cp>Autonomy's former CEO said HP's allegations are false.\u003c/p>\n\u003cp>HP is now taking an $8.8 billion charge to align Autonomy's purchase price with what HP now says is its real value. More than $5 billion of that charge is due to false accounting, HP said.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>The revelation is another blow for HP, which is struggling to reinvent itself as PC and printer sales shrink. The company's stock hit a 10-year low in morning trading.\u003c/p>\n\u003cp>Among other things, Autonomy makes search engines that help companies find vital information stored across computer networks. Acquiring it was part of an attempt by HP to strengthen its portfolio of high-value products and services for corporations and government agencies. The deal was approved by Whitman's predecessor, Leo Apotheker, but closed three weeks into Whitman's tenure as chief executive. Whitman was a member of HP's board of directors when Apotheker initiated the Autonomy purchase.\u003c!--more-->\u003c/p>\n\u003cp>Among the tricks used at Autonomy, Whitman said: The company had been booking the sale of computers as software revenue and claiming the cost of making the machines as a marketing expense. Revenue from long-term contracts was booked up front, instead of over time.\u003c/p>\n\u003cp>The allegations are serious, according to accounting experts.\u003c/p>\n\u003cp>\"According to GAAP (generally accepted accounting principles), the overstatement of revenue under any tax code is illegal,\" said Mark Williams, a finance professor at Boston University and a former bank examiner for the Federal Reserve.\u003c/p>\n\u003cp>As a result of its alleged accounting practices, Autonomy appeared to be more profitable than it was and seemed to be growing its core software business faster than was actually the case. The moves were apparently designed to groom the company for an acquisition, Whitman said.\u003c/p>\n\u003cp>Once HP bought the company, Autonomy's reported revenue growth and profit margin quickly declined. Autonomy CEO Mike Lynch continued to run the company as part of HP, but Whitman forced him out on May 23 because it was not living up to expectations.\u003c/p>\n\u003cp>\"Little did I know that there was more than met the eye,\" Whitman said.\u003c/p>\n\u003cp>With Lynch gone, a senior Autonomy executive volunteered information about the alleged accounting irregularities, prompting an internal investigation, Whitman said.\u003c/p>\n\u003cp>The case has been referred to the U.S. Securities and Exchange Commission and the UK's Serious Fraud Office, she said. The company will also try to recoup some of the cash it paid for Autonomy through lawsuits.\u003c/p>\n\u003cp>In a statement to the Financial Times, Lynch said \"The former management team of Autonomy was shocked to see this statement today, and flatly rejects these allegations, which are false.\"\u003c/p>\n\u003cp>\"It took 10 years to build Autonomy's industry-leading technology and it is sad to see how it has been mismanaged since its acquisition by HP,\" he added.\u003c/p>\n\u003cp>On a conference call with Whitman following the earnings report, analyst Ben Reitzes of Barclays Capital asked who will be held responsible internally for the disastrous acquisition.\u003c/p>\n\u003cp>Whitman answered that the two executives who should have been held responsible — Apotheker and strategy chief Shane Robison — are gone. But the deal was also approved by the board of directors.\u003c/p>\n\u003cp>\"Most of the board was here and voted for this deal, and we feel terribly about that,\" Whitman said. \"What I will say is that the board relied on audited financials. Audited by Deloitte — not 'Brand X' accounting firm, but Deloitte. During our very extensive due diligence process, we hired KPMG to audit Deloitte. And neither of them saw what we now see after someone came forward to point us in the right direction.\"\u003c/p>\n\u003cp>Apotheker told The Associated Press on Tuesday that he was \"stunned and disappointed\" to learn of the allegations against Autonomy, and pointed out that they had gone undiscovered by HP's auditors, executives and directors.\u003c/p>\n\u003cp>Deloitte UK said it could not comment on the matter because of client confidentiality rules.\u003c/p>\n\u003cp>It was the second mammoth loss in a row for HP. In the third fiscal quarter, it lost a record $8.86 billion, or $4.49 per share. That was due to a charge for another acquisition — that of Electronic Data Systems, a technology consulting service that it bought for $13 billion in 2009. In that case, HP didn't blame improper accounting, just results that didn't live up to expectations.\u003c/p>\n\u003cp>Excluding the charges in the latest quarter, HP earned $1.16 per share in the latest quarter, just above the average analyst forecast of $1.14 per share, as polled by FactSet.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003cem>Technology Writer Barbara Ortutay in New York contributed to this report.\u003c/em>\u003c/p>\n\n",
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"excerpt": "NEW YORK (AP) Hewlett-Packard Co. said on Tuesday that it's the victim of a multi-billion dollar fraud at the hands of a British company it bought last year that lied about its finances.\r\n\r\nHP CEO Meg Whitman said executives at Autonomy Corporation PLC \"willfully\" boosted the company's figures through various accounting tricks, which convinced HP to pay $9.7 billion for the company in October 2011.",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>By Peter Svensson\u003c/p>\n\u003cp>NEW YORK (AP) Hewlett-Packard Co. said on Tuesday that it's the victim of a multi-billion dollar fraud at the hands of a British company it bought last year that lied about its finances.\u003c/p>\n\u003cp>HP CEO Meg Whitman said executives at Autonomy Corporation PLC \"willfully\" boosted the company's figures through various accounting tricks, which convinced HP to pay $9.7 billion for the company in October 2011.\u003c/p>\n\u003cp>Autonomy's former CEO said HP's allegations are false.\u003c/p>\n\u003cp>HP is now taking an $8.8 billion charge to align Autonomy's purchase price with what HP now says is its real value. More than $5 billion of that charge is due to false accounting, HP said.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>The revelation is another blow for HP, which is struggling to reinvent itself as PC and printer sales shrink. The company's stock hit a 10-year low in morning trading.\u003c/p>\n\u003cp>Among other things, Autonomy makes search engines that help companies find vital information stored across computer networks. Acquiring it was part of an attempt by HP to strengthen its portfolio of high-value products and services for corporations and government agencies. The deal was approved by Whitman's predecessor, Leo Apotheker, but closed three weeks into Whitman's tenure as chief executive. Whitman was a member of HP's board of directors when Apotheker initiated the Autonomy purchase.\u003c!--more-->\u003c/p>\n\u003cp>Among the tricks used at Autonomy, Whitman said: The company had been booking the sale of computers as software revenue and claiming the cost of making the machines as a marketing expense. Revenue from long-term contracts was booked up front, instead of over time.\u003c/p>\n\u003cp>The allegations are serious, according to accounting experts.\u003c/p>\n\u003cp>\"According to GAAP (generally accepted accounting principles), the overstatement of revenue under any tax code is illegal,\" said Mark Williams, a finance professor at Boston University and a former bank examiner for the Federal Reserve.\u003c/p>\n\u003cp>As a result of its alleged accounting practices, Autonomy appeared to be more profitable than it was and seemed to be growing its core software business faster than was actually the case. The moves were apparently designed to groom the company for an acquisition, Whitman said.\u003c/p>\n\u003cp>Once HP bought the company, Autonomy's reported revenue growth and profit margin quickly declined. Autonomy CEO Mike Lynch continued to run the company as part of HP, but Whitman forced him out on May 23 because it was not living up to expectations.\u003c/p>\n\u003cp>\"Little did I know that there was more than met the eye,\" Whitman said.\u003c/p>\n\u003cp>With Lynch gone, a senior Autonomy executive volunteered information about the alleged accounting irregularities, prompting an internal investigation, Whitman said.\u003c/p>\n\u003cp>The case has been referred to the U.S. Securities and Exchange Commission and the UK's Serious Fraud Office, she said. The company will also try to recoup some of the cash it paid for Autonomy through lawsuits.\u003c/p>\n\u003cp>In a statement to the Financial Times, Lynch said \"The former management team of Autonomy was shocked to see this statement today, and flatly rejects these allegations, which are false.\"\u003c/p>\n\u003cp>\"It took 10 years to build Autonomy's industry-leading technology and it is sad to see how it has been mismanaged since its acquisition by HP,\" he added.\u003c/p>\n\u003cp>On a conference call with Whitman following the earnings report, analyst Ben Reitzes of Barclays Capital asked who will be held responsible internally for the disastrous acquisition.\u003c/p>\n\u003cp>Whitman answered that the two executives who should have been held responsible — Apotheker and strategy chief Shane Robison — are gone. But the deal was also approved by the board of directors.\u003c/p>\n\u003cp>\"Most of the board was here and voted for this deal, and we feel terribly about that,\" Whitman said. \"What I will say is that the board relied on audited financials. Audited by Deloitte — not 'Brand X' accounting firm, but Deloitte. During our very extensive due diligence process, we hired KPMG to audit Deloitte. And neither of them saw what we now see after someone came forward to point us in the right direction.\"\u003c/p>\n\u003cp>Apotheker told The Associated Press on Tuesday that he was \"stunned and disappointed\" to learn of the allegations against Autonomy, and pointed out that they had gone undiscovered by HP's auditors, executives and directors.\u003c/p>\n\u003cp>Deloitte UK said it could not comment on the matter because of client confidentiality rules.\u003c/p>\n\u003cp>It was the second mammoth loss in a row for HP. In the third fiscal quarter, it lost a record $8.86 billion, or $4.49 per share. That was due to a charge for another acquisition — that of Electronic Data Systems, a technology consulting service that it bought for $13 billion in 2009. In that case, HP didn't blame improper accounting, just results that didn't live up to expectations.\u003c/p>\n\u003cp>Excluding the charges in the latest quarter, HP earned $1.16 per share in the latest quarter, just above the average analyst forecast of $1.14 per share, as polled by FactSet.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003cem>Technology Writer Barbara Ortutay in New York contributed to this report.\u003c/em>\u003c/p>\n\n\u003c/div>\u003c/p>",
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"title": "Amazon's New Online Wine Shop: Industry Friend or Foe?",
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"content": "\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/RedWine.jpg\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-79982\" title=\"RedWine\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/RedWine-300x176.jpg\" alt=\"\" width=\"300\" height=\"176\">\u003c/a>The world’s largest e-commerce site began its third foray into the world of wine Thursday. Amazon.com says customers can now order online from a list of nearly a thousand wines from around the country.\u003c/p>\n\u003cp>KQED News anchor Stephanie Martin spoke with reporter Cathy Bussewitz, who covers California’s wine country for the \u003ca title=\"http://www.pressdemocrat.com/article/20121108/business/121109591\" href=\"http://www.pressdemocrat.com/article/20121108/business/121109591\" target=\"_blank\" rel=\"noopener\">Santa Rosa Press Democrat\u003c/a>, about the online retailer’s latest move into another formerly offline commodity.\u003c/p>\n\u003cp>\u003cem>Edited transcript\u003c/em>\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: Amazon tried to do this in 1999 and then again 10 years later, and both efforts were very expensive failures. What went wrong ?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: Well, at the time there were and there still are today a lot of regulatory hurdles for shipping wine directly to consumers. One of the main things that really changed is that about a year ago some of those regulations were relaxed, so a third-party provider like Amazon can now ship direct to consumers, as long as the winery itself remains in charge of the sale. That sort of paved the way for regulators to get back into the scene. \u003c!--more-->\u003cstrong>Stephanie Martin\u003c/strong>: The public relations director at Rodney Strong Vineyards, Robert Larson, really summed up the complicated nature of wine shipping when he said to you, “It’s a whole lot easier to send a gun to another state than it is to send a bottle of wine.” Even with the change that you just talked about, it’s still complicated, isn’t it?\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: It’s absolutely still complicated. And you’ll see, Amazon, even with their launch, is only going to be shipping to 13 states so far. So while this is a big change for the wine industry and for wineries’ ability to reach to states where they might not have much of a brand presence, it’s really the beginning phase.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: What’s the buzz in the North Coast wine region about Amazon’s move into the business?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: Well, I think people are really intrigued by it and excited about what it might mean. And I think it’s also a little early to tell how this is really going to change things. But there’s a few large Sonoma County wineries that are participating in this, and Napa of course. But it’s not obvious that there’s a huge presence of North Coast wineries that are participating at this point, so it’ll be interesting to see how it unravels.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: Who do you think is likely to benefit the most?\u003c/p>\n\u003caside class=\"pullquote alignleft\">\u003ca href=\"http://www.pressdemocrat.com/article/20121108/BUSINESS/121109591\">Amazon launches online wine shop\u003c/a> (Santa Rosa Press Democrat)\u003c/aside>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: I think the perception is that it really depends on how a winery has structured its business. The shipping is going to be quite expensive for them. You’ll see that the customers who buy wine through Amazon.com are going to get good deals on the shipping, but the wineries are having to handle the cost, so they’re picking up the slack in terms of those discounts.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin:\u003c/strong> And who has reason to be concerned?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: I think some people would say that distributors have reason to be concerned. There’s a three-tier system that wineries have to navigate: they have to typically sell through a distributor and then a wholesaler and then a retailer. Amazon selling wine online sort of cuts out one step of the process, but you know some seem concerned about that, and others feel that it’s not really going to eat away at distributors’ business.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: And ultimately, what’s the benefit to consumers for using Amazon?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: They have an interesting setup on their web site. If you’re looking for Russian River Chardonnay, you can literally go through their web site, choose Sonoma County, choose a region, and search that way. So, they are providing an interesting way of shopping, in which you can really hone in on what you’re looking for.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>And, it sounds like the shipping is pretty good, too. So people who want to ship some wine for the holidays to their family, as long as their family lives in one of those 13 states, they’ll maybe have an easier time doing that and pay less for shipping.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/RedWine.jpg\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-79982\" title=\"RedWine\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/RedWine-300x176.jpg\" alt=\"\" width=\"300\" height=\"176\">\u003c/a>The world’s largest e-commerce site began its third foray into the world of wine Thursday. Amazon.com says customers can now order online from a list of nearly a thousand wines from around the country.\u003c/p>\n\u003cp>KQED News anchor Stephanie Martin spoke with reporter Cathy Bussewitz, who covers California’s wine country for the \u003ca title=\"http://www.pressdemocrat.com/article/20121108/business/121109591\" href=\"http://www.pressdemocrat.com/article/20121108/business/121109591\" target=\"_blank\" rel=\"noopener\">Santa Rosa Press Democrat\u003c/a>, about the online retailer’s latest move into another formerly offline commodity.\u003c/p>\n\u003cp>\u003cem>Edited transcript\u003c/em>\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: Amazon tried to do this in 1999 and then again 10 years later, and both efforts were very expensive failures. What went wrong ?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: Well, at the time there were and there still are today a lot of regulatory hurdles for shipping wine directly to consumers. One of the main things that really changed is that about a year ago some of those regulations were relaxed, so a third-party provider like Amazon can now ship direct to consumers, as long as the winery itself remains in charge of the sale. That sort of paved the way for regulators to get back into the scene. \u003c!--more-->\u003cstrong>Stephanie Martin\u003c/strong>: The public relations director at Rodney Strong Vineyards, Robert Larson, really summed up the complicated nature of wine shipping when he said to you, “It’s a whole lot easier to send a gun to another state than it is to send a bottle of wine.” Even with the change that you just talked about, it’s still complicated, isn’t it?\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: It’s absolutely still complicated. And you’ll see, Amazon, even with their launch, is only going to be shipping to 13 states so far. So while this is a big change for the wine industry and for wineries’ ability to reach to states where they might not have much of a brand presence, it’s really the beginning phase.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: What’s the buzz in the North Coast wine region about Amazon’s move into the business?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: Well, I think people are really intrigued by it and excited about what it might mean. And I think it’s also a little early to tell how this is really going to change things. But there’s a few large Sonoma County wineries that are participating in this, and Napa of course. But it’s not obvious that there’s a huge presence of North Coast wineries that are participating at this point, so it’ll be interesting to see how it unravels.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: Who do you think is likely to benefit the most?\u003c/p>\n\u003caside class=\"pullquote alignleft\">\u003ca href=\"http://www.pressdemocrat.com/article/20121108/BUSINESS/121109591\">Amazon launches online wine shop\u003c/a> (Santa Rosa Press Democrat)\u003c/aside>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: I think the perception is that it really depends on how a winery has structured its business. The shipping is going to be quite expensive for them. You’ll see that the customers who buy wine through Amazon.com are going to get good deals on the shipping, but the wineries are having to handle the cost, so they’re picking up the slack in terms of those discounts.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin:\u003c/strong> And who has reason to be concerned?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: I think some people would say that distributors have reason to be concerned. There’s a three-tier system that wineries have to navigate: they have to typically sell through a distributor and then a wholesaler and then a retailer. Amazon selling wine online sort of cuts out one step of the process, but you know some seem concerned about that, and others feel that it’s not really going to eat away at distributors’ business.\u003c/p>\n\u003cp>\u003cstrong>Stephanie Martin\u003c/strong>: And ultimately, what’s the benefit to consumers for using Amazon?\u003c/p>\n\u003cp>\u003cstrong>Cathy Bussewitz\u003c/strong>: They have an interesting setup on their web site. If you’re looking for Russian River Chardonnay, you can literally go through their web site, choose Sonoma County, choose a region, and search that way. So, they are providing an interesting way of shopping, in which you can really hone in on what you’re looking for.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>And, it sounds like the shipping is pretty good, too. So people who want to ship some wine for the holidays to their family, as long as their family lives in one of those 13 states, they’ll maybe have an easier time doing that and pay less for shipping.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>\u003cem>By Matt Drange, \u003ca href=\"http://www.baycitizen.org/technology/story/atherton-gets-cash-facebook-over-traffic/\" target=\"_blank\">The Bay Citizen\u003c/a>\u003c/em>\u003c/p>\n\u003cp>Facebook’s move to Menlo Park late last year has created a small windfall for one of the richest communities on the Peninsula.\u003c/p>\n\u003cfigure id=\"attachment_79904\" class=\"wp-caption alignleft\" style=\"max-width: 235px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/facebookHQ.jpg\">\u003cimg class=\"size-full wp-image-79904\" title=\"facebookHQ\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/facebookHQ.jpg\" alt=\"\" width=\"235\" height=\"230\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Facebook's new headquarters are pictured in Menlo Park on Tuesday, Aug. 2, 2011 (Noah Berger/The Bay Citizen)\u003c/figcaption>\u003c/figure>\n\u003cp>The town of Atherton, a wealthy enclave near the new Facebook campus, received $350,000 from the social media giant last month to allay its concerns over increased traffic.\u003c/p>\n\u003cp>Now the question for the town of 7,000 people is what to do with the cash.\u003c/p>\n\u003cp>“We’re not in a big hurry to spend the money,” said Atherton Mayor Bill Widmer. “We have a number of issues we’re looking at.”\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>The payment is the smallest Facebook has made to appease its new hometown and neighboring communities.\u003c/p>\n\u003cp>East Palo Alto, one of the poorest cities in the region, received $650,000 from Facebook to compensate for increased congestion on its streets. \u003c!--more-->Menlo Park, meanwhile, received $1.1 million to finance street improvements and other projects to handle the thousands of employees working at the new location. \u003c/p>\n\u003cp>Facebook also will pay Menlo Park at least $8.5 million over the next 10 years to offset the loss of local sales taxes formerly generated by Sun Microsystems, the computer software company that used to occupy the space Facebook now calls home. Menlo Park does not levy a sales tax on online advertisements, a major source of revenue for Facebook. \u003c!--more-->\u003c/p>\n\u003cp>Facebook, which moved from its Palo Alto location last year, employs roughly 2,500 people in Menlo Park. In coming years, it hopes to have 9,400 employees at the new site and a planned campus nearby. The company expects to break ground on the new facility next year and complete it by 2015.\u003c/p>\n\u003cp>After Atherton initially opposed Facebook’s move, the two \u003ca href=\"https://www.documentcloud.org/documents/509332-atherton-facebook-agreement.html\">reached an agreement in early July\u003c/a>; the deal prohibits the town from filing a lawsuit against the company over the project.\u003c/p>\n\u003cp>Atherton, tucked between Menlo Park and Redwood City, is known for its tree-lined streets and secluded mansions. Per-capita income is $107,000 a year, according to the latest Census data, nearly four times the state average. There are few sidewalks or bicycle lanes, giving the city a more rural vibe than its Silicon Valley neighbors to the south.\u003c/p>\n\u003cp>The town’s annual budget is a little more than $10 million, with more than half going to public safety, Widmer said. Among the services the city provides are vacation home checks by police officers.\u003c/p>\n\u003cp>The idea behind the one-time payment was to compensate the town for increased traffic at the intersection of Marsh and Middlefield roads, about 5 miles from Facebook’s new campus.\u003c/p>\n\u003cp>The T-shaped intersection, which has one lane in each direction, is likely to become a main thoroughfare for cars traveling to Facebook. One possible solution is to remove a roadside drainage channel and add an extra turn lane.\u003c/p>\n\u003cp>In addition to the one-time payment of $350,000, Facebook agreed to provide Atherton up to $15,000 of consulting work for transportation initiatives, including improvements to bicycle lanes around the town. Last month, Atherton took the first step in developing a bicycle-pedestrian master plan.\u003c/p>\n\u003cp>So far, the $350,000 remains untouched in the town’s general fund.\u003c/p>\n\u003cp>“There are no restrictions as to how it can be spent,” said Widmer, who was quick to add that it is up to the Atherton City Council to decide how to allocate the money. “The intention was that we would more or less earmark that money so it’s used for traffic-related activity.”\u003c/p>\n\u003cdiv id=\"DV-viewer-509347-atherton-facebook-agreement\" class=\"DV-container\">\u003c/div>\n\u003cp>\u003cscript src=\"//s3.amazonaws.com/s3.documentcloud.org/viewer/loader.js\">\u003c/script>\u003cbr>\n\u003cscript>\n DV.load(\"//www.documentcloud.org/documents/509347-atherton-facebook-agreement.js\", {\n width: 550,\n height: 600,\n sidebar: false,\n pdf: false,\n container: \"#DV-viewer-509347-atherton-facebook-agreement\"\n });\n\u003c/script>\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003cem>This story was produced by The Bay Citizen, a project of the Center for Investigative Reporting. Learn more at www.baycitizen.org.\u003c/em>\u003c/p>\n\n",
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"description": "By Matt Drange, The Bay Citizen Facebook’s move to Menlo Park late last year has created a small windfall for one of the richest communities on the Peninsula. The town of Atherton, a wealthy enclave near the new Facebook campus, received $350,000 from the social media giant last month to allay its concerns over increased",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cem>By Matt Drange, \u003ca href=\"http://www.baycitizen.org/technology/story/atherton-gets-cash-facebook-over-traffic/\" target=\"_blank\">The Bay Citizen\u003c/a>\u003c/em>\u003c/p>\n\u003cp>Facebook’s move to Menlo Park late last year has created a small windfall for one of the richest communities on the Peninsula.\u003c/p>\n\u003cfigure id=\"attachment_79904\" class=\"wp-caption alignleft\" style=\"max-width: 235px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/facebookHQ.jpg\">\u003cimg class=\"size-full wp-image-79904\" title=\"facebookHQ\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/11/facebookHQ.jpg\" alt=\"\" width=\"235\" height=\"230\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Facebook's new headquarters are pictured in Menlo Park on Tuesday, Aug. 2, 2011 (Noah Berger/The Bay Citizen)\u003c/figcaption>\u003c/figure>\n\u003cp>The town of Atherton, a wealthy enclave near the new Facebook campus, received $350,000 from the social media giant last month to allay its concerns over increased traffic.\u003c/p>\n\u003cp>Now the question for the town of 7,000 people is what to do with the cash.\u003c/p>\n\u003cp>“We’re not in a big hurry to spend the money,” said Atherton Mayor Bill Widmer. “We have a number of issues we’re looking at.”\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>The payment is the smallest Facebook has made to appease its new hometown and neighboring communities.\u003c/p>\n\u003cp>East Palo Alto, one of the poorest cities in the region, received $650,000 from Facebook to compensate for increased congestion on its streets. \u003c!--more-->Menlo Park, meanwhile, received $1.1 million to finance street improvements and other projects to handle the thousands of employees working at the new location. \u003c/p>\n\u003cp>Facebook also will pay Menlo Park at least $8.5 million over the next 10 years to offset the loss of local sales taxes formerly generated by Sun Microsystems, the computer software company that used to occupy the space Facebook now calls home. Menlo Park does not levy a sales tax on online advertisements, a major source of revenue for Facebook. \u003c!--more-->\u003c/p>\n\u003cp>Facebook, which moved from its Palo Alto location last year, employs roughly 2,500 people in Menlo Park. In coming years, it hopes to have 9,400 employees at the new site and a planned campus nearby. The company expects to break ground on the new facility next year and complete it by 2015.\u003c/p>\n\u003cp>After Atherton initially opposed Facebook’s move, the two \u003ca href=\"https://www.documentcloud.org/documents/509332-atherton-facebook-agreement.html\">reached an agreement in early July\u003c/a>; the deal prohibits the town from filing a lawsuit against the company over the project.\u003c/p>\n\u003cp>Atherton, tucked between Menlo Park and Redwood City, is known for its tree-lined streets and secluded mansions. Per-capita income is $107,000 a year, according to the latest Census data, nearly four times the state average. There are few sidewalks or bicycle lanes, giving the city a more rural vibe than its Silicon Valley neighbors to the south.\u003c/p>\n\u003cp>The town’s annual budget is a little more than $10 million, with more than half going to public safety, Widmer said. Among the services the city provides are vacation home checks by police officers.\u003c/p>\n\u003cp>The idea behind the one-time payment was to compensate the town for increased traffic at the intersection of Marsh and Middlefield roads, about 5 miles from Facebook’s new campus.\u003c/p>\n\u003cp>The T-shaped intersection, which has one lane in each direction, is likely to become a main thoroughfare for cars traveling to Facebook. One possible solution is to remove a roadside drainage channel and add an extra turn lane.\u003c/p>\n\u003cp>In addition to the one-time payment of $350,000, Facebook agreed to provide Atherton up to $15,000 of consulting work for transportation initiatives, including improvements to bicycle lanes around the town. Last month, Atherton took the first step in developing a bicycle-pedestrian master plan.\u003c/p>\n\u003cp>So far, the $350,000 remains untouched in the town’s general fund.\u003c/p>\n\u003cp>“There are no restrictions as to how it can be spent,” said Widmer, who was quick to add that it is up to the Atherton City Council to decide how to allocate the money. “The intention was that we would more or less earmark that money so it’s used for traffic-related activity.”\u003c/p>\n\u003cdiv id=\"DV-viewer-509347-atherton-facebook-agreement\" class=\"DV-container\">\u003c/div>\n\u003cp>\u003cscript src=\"//s3.amazonaws.com/s3.documentcloud.org/viewer/loader.js\">\u003c/script>\u003cbr>\n\u003cscript>\n DV.load(\"//www.documentcloud.org/documents/509347-atherton-facebook-agreement.js\", {\n width: 550,\n height: 600,\n sidebar: false,\n pdf: false,\n container: \"#DV-viewer-509347-atherton-facebook-agreement\"\n });\n\u003c/script>\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003cem>This story was produced by The Bay Citizen, a project of the Center for Investigative Reporting. Learn more at www.baycitizen.org.\u003c/em>\u003c/p>\n\n\u003c/div>\u003c/p>",
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"disqusTitle": "Big Facebook Bear Still Not Impressed",
"title": "Big Facebook Bear Still Not Impressed",
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"content": "\u003cp>Facebook has gotten some good news lately, but not enough to shake the convictions of one guy we've been talking to about the stock throughout the long post-IPO deal.\u003c/p>\n\u003cfigure id=\"attachment_79140\" class=\"wp-caption alignleft\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/facebook1.jpg\">\u003cimg class=\"size-large wp-image-79140\" title=\"TO GO WITH US-IT-Internet-IPO-Facebook-A\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/facebook1-1024x681.jpg\" alt=\"\" width=\"640\" height=\"425\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">(Ted Aljibe/AFP/GettyImages) \u003ccite>( Ted Aljibe/AFP-Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>As CEO of the stock analysis company PrivCo, Sam Hamadeh has been throwing cold water in the faces of Facebook investors since before the company went public.\u003c/p>\n\u003cp>His company specializes in initial public offerings, and he said a lot was wrong with this one. He even gave us \u003ca href=\"http://ww2.kqed.org/news/2012/05/16/analysis-facebook-ipo-worth-25-per-share/\">seven reasons not to buy the stock\u003c/a> during the height of the IPO hype Later, he told us analysts involved with IPOs are typically under pressure to \u003ca href=\"http://ww2.kqed.org/news/2012/06/29/how-serious-should-you-take-analyst-ratings-on-stocks-not-so-much-says-this-guy/\">tout the stock\u003c/a>.\u003c/p>\n\u003cp>But more important, he said, the numbers just didn't add up. And in the months after Facebook went public on May 18, he has appeared to be right.\u003c/p>\n\u003cp>Facebook started with a price of $38 per share, only to watch that number dip down to the teens.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>But on Oct. 23 the company \u003ca href=\"http://ww2.kqed.org/news/2012/07/26/facebook-earnings-beat-estimates/\">beat analysts' expectations\u003c/a>, and the price jumped from $19.50 to $24.01 overnight. So we had to wonder: Impressed yet, Hamadeh?\u003c/p>\n\u003cp>\"I think it's not as good as it seems,\" he told me, pointing out that the stock has slid since then down to $22.10 on Friday.\u003c/p>\n\u003cp>And it should be lower still, he said. One way of analyzing a stock's value is to look at its price to earnings ratio. That's the market price of a share divided by the annual earnings per share. \u003c!--more-->\u003c/p>\n\u003cp>\"The price to earnings ratio should be the same as its annual growth rate,\" he said. Normally the growth rate would be calculated based on earnings, but Facebook hasn't turned a profit, so Hamadeh is using its revenues as a substitute. And those revenues have been increasing at an annual rate of 34%.\u003c/p>\n\u003cp>But Facebook's price-to-earnings ratio was 232.58 when the market closed on Friday -- almost seven times its growth rate.\u003c/p>\n\u003cp>In addition, Hamadeh noted, the company's revenues overall may have gone up, but its \u003ca href=\"http://allthingsd.com/20121023/feeling-zyngas-pain-facebooks-payments-biz-takes-a-dive/\">payments business actually shrank\u003c/a> in the fourth quarter. That's the revenue from partners like Zynga. \"That's supposed to be an important business line for them,\" said Hamadeh.\u003c/p>\n\u003cp>And, he pointed out, more stock will come available in November. Insiders, such as company executives, were forbidden from selling their shares until six months after the IPO. Now these shares may come onto the market, depressing prices.\u003c/p>\n\u003cp>The bottom line is that Facebook's stock is still overpriced, said Hamadeh, mostly because many small investors have been dazzled by the excitement around the company.\u003c/p>\n\u003cp>\"If it was any other company or you blocked out the name, you would get [a stock price] in the teens,\" he said. \"And eventually the smart money will value it appropriately.\"\u003c/p>\n\u003cp>But not yet, apparently. The \u003ca href=\"http://finance.yahoo.com/q/ao?s=FB+Analyst+Opinion\">mean analyst price target\u003c/a> on Yahoo! Finance for Facebook is $28.37.\u003c/p>\n\u003cp>We'll see...\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003ca href=\"http://blogs.kqed.org/lowdown/2012/03/06/why-facebooks-ipo-will-bring-in-some-serious-cash-and-whos-going-to-get-rich/\">Read an explanation of Facebook's IPO process.\u003c/a>\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>Facebook has gotten some good news lately, but not enough to shake the convictions of one guy we've been talking to about the stock throughout the long post-IPO deal.\u003c/p>\n\u003cfigure id=\"attachment_79140\" class=\"wp-caption alignleft\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/facebook1.jpg\">\u003cimg class=\"size-large wp-image-79140\" title=\"TO GO WITH US-IT-Internet-IPO-Facebook-A\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/facebook1-1024x681.jpg\" alt=\"\" width=\"640\" height=\"425\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">(Ted Aljibe/AFP/GettyImages) \u003ccite>( Ted Aljibe/AFP-Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>As CEO of the stock analysis company PrivCo, Sam Hamadeh has been throwing cold water in the faces of Facebook investors since before the company went public.\u003c/p>\n\u003cp>His company specializes in initial public offerings, and he said a lot was wrong with this one. He even gave us \u003ca href=\"http://ww2.kqed.org/news/2012/05/16/analysis-facebook-ipo-worth-25-per-share/\">seven reasons not to buy the stock\u003c/a> during the height of the IPO hype Later, he told us analysts involved with IPOs are typically under pressure to \u003ca href=\"http://ww2.kqed.org/news/2012/06/29/how-serious-should-you-take-analyst-ratings-on-stocks-not-so-much-says-this-guy/\">tout the stock\u003c/a>.\u003c/p>\n\u003cp>But more important, he said, the numbers just didn't add up. And in the months after Facebook went public on May 18, he has appeared to be right.\u003c/p>\n\u003cp>Facebook started with a price of $38 per share, only to watch that number dip down to the teens.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>But on Oct. 23 the company \u003ca href=\"http://ww2.kqed.org/news/2012/07/26/facebook-earnings-beat-estimates/\">beat analysts' expectations\u003c/a>, and the price jumped from $19.50 to $24.01 overnight. So we had to wonder: Impressed yet, Hamadeh?\u003c/p>\n\u003cp>\"I think it's not as good as it seems,\" he told me, pointing out that the stock has slid since then down to $22.10 on Friday.\u003c/p>\n\u003cp>And it should be lower still, he said. One way of analyzing a stock's value is to look at its price to earnings ratio. That's the market price of a share divided by the annual earnings per share. \u003c!--more-->\u003c/p>\n\u003cp>\"The price to earnings ratio should be the same as its annual growth rate,\" he said. Normally the growth rate would be calculated based on earnings, but Facebook hasn't turned a profit, so Hamadeh is using its revenues as a substitute. And those revenues have been increasing at an annual rate of 34%.\u003c/p>\n\u003cp>But Facebook's price-to-earnings ratio was 232.58 when the market closed on Friday -- almost seven times its growth rate.\u003c/p>\n\u003cp>In addition, Hamadeh noted, the company's revenues overall may have gone up, but its \u003ca href=\"http://allthingsd.com/20121023/feeling-zyngas-pain-facebooks-payments-biz-takes-a-dive/\">payments business actually shrank\u003c/a> in the fourth quarter. That's the revenue from partners like Zynga. \"That's supposed to be an important business line for them,\" said Hamadeh.\u003c/p>\n\u003cp>And, he pointed out, more stock will come available in November. Insiders, such as company executives, were forbidden from selling their shares until six months after the IPO. Now these shares may come onto the market, depressing prices.\u003c/p>\n\u003cp>The bottom line is that Facebook's stock is still overpriced, said Hamadeh, mostly because many small investors have been dazzled by the excitement around the company.\u003c/p>\n\u003cp>\"If it was any other company or you blocked out the name, you would get [a stock price] in the teens,\" he said. \"And eventually the smart money will value it appropriately.\"\u003c/p>\n\u003cp>But not yet, apparently. The \u003ca href=\"http://finance.yahoo.com/q/ao?s=FB+Analyst+Opinion\">mean analyst price target\u003c/a> on Yahoo! Finance for Facebook is $28.37.\u003c/p>\n\u003cp>We'll see...\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003ca href=\"http://blogs.kqed.org/lowdown/2012/03/06/why-facebooks-ipo-will-bring-in-some-serious-cash-and-whos-going-to-get-rich/\">Read an explanation of Facebook's IPO process.\u003c/a>\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>Investors may listen with concern today when Apple Computer reports its fourth quarter earnings at 2 p.m. today.\u003c/p>\n\u003cp>Although up for the year, the company's\u003ca href=\"https://www.google.com/finance?client=ob&q=NASDAQ:AAPL\"> stock has been falling \u003c/a>since mid September, and some analysts think that will continue. Some even worry that Apple, which is the largest publicly traded company in the world by market capitalization, could drag the whole stock market down.\u003c/p>\n\u003caside class=\"pullquote alignleft\">\n\u003cul>\n\u003cli>\u003ca href=\"http://events.apple.com.edgesuite.net/12epjwgpjviociytiy10/event/index.html\">Listen to the earnings call\u003c/a>.\u003c/li>\n\u003cli>\u003ca href=\"http://live.cnet.com/Event/Apple_third-quarter_earnings_call_live_blog?Page=0\">Follow CNET's live coverage\u003c/a>.\u003ca href=\"http://www.macworld.com/article/2013103/live-blog-apple-fourth-quarter-earnings-conference-call.html\">\u003cbr>\nFollow Macworld's live coverage.\u003c/a>\u003c/li>\n\u003cli>\u003ca href=\"http://www.thestreet.com/story/11748335/1/apple-earnings-live-blog.html?cm_ven=GOOGLEN\">Follow The Street's live coverage.\u003c/a>\u003c/li>\n\u003c/ul>\n\u003c/aside>\n\u003cp>Here's a \u003ca href=\"http://www.reuters.com/article/2012/10/24/us-apple-earnings-technicals-idUSBRE89N1J920121024\">report from Reuters\u003c/a> writer Rodrigo Campos:\u003c/p>\n\u003cblockquote>\u003cp>Apple Inc seems to still be the drug of choice for consumers of all stripes looking for sleek gadgetry. But traders are starting to doubt the hype, and the stock's technicals are painting a bleak picture ahead of Apple's earnings due Thursday.\u003c/p>\u003c/blockquote>\n\u003cp>And here's a\u003ca href=\"http://news.cnet.com/8301-13579_3-57477954-37/apple-earnings-ipad-boom-likely-iphone-hmmm/\"> CNET report\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>Savvy consumers, who have gotten wise to Apple's annual product upgrade and are expecting a new model this fall, may have held back on purchasing an iPhone during the quarter. That happened in the quarter that followed Apple's typical iPhone launch period last year with the belated \u003ca href=\"http://www.cnet.com/iphone-4s/\">iPhone 4S\u003c/a>, which led to \u003ca title=\"Despite strength, Apple earnings miss the mark -- Tuesday, Oct 18, 2011\" href=\"http://news.cnet.com/8301-27076_3-20122163-248/despite-strength-apple-earnings-miss-the-mark/\">Apple missing Wall Street's estimates\u003c/a>. In a research note last week, Toni Sacconaghi, of Bernstein Research, suggested that the very same thing could happen once again, but that sales of the device may not be the only thing to blame.\u003c/p>\n\u003cfigure id=\"attachment_79001\" class=\"wp-caption alignright\" style=\"max-width: 210px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg1.jpg\">\u003cimg class=\"size-large wp-image-79001 \" title=\"ipag mini as jpeg\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg1-892x1024.jpg\" alt=\"\" width=\"210\" height=\"240\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Apple launched a smaller version of its popular iPad on Tuesday. (Apple Computer)\u003c/figcaption>\u003c/figure>\n\u003cp>\"We see a reasonable probability that Apple will miss consensus revenue expectations due to macro-economic weakness in China and Europe, a product cycle lull in the iPhone, a later than expected introduction of the new iPad into China, and the late quarter introduction of new \u003ca href=\"http://www.cnet.com/apple-mac.html\">Mac\u003c/a> notebooks,\" Sacconaghi wrote. All that could lead up to earnings of $10.24 on revenue of $35.5 billion, he added.\u003c/p>\u003c/blockquote>\n\u003cp> \u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\u003cp>\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>Investors may listen with concern today when Apple Computer reports its fourth quarter earnings at 2 p.m. today.\u003c/p>\n\u003cp>Although up for the year, the company's\u003ca href=\"https://www.google.com/finance?client=ob&q=NASDAQ:AAPL\"> stock has been falling \u003c/a>since mid September, and some analysts think that will continue. Some even worry that Apple, which is the largest publicly traded company in the world by market capitalization, could drag the whole stock market down.\u003c/p>\n\u003caside class=\"pullquote alignleft\">\n\u003cul>\n\u003cli>\u003ca href=\"http://events.apple.com.edgesuite.net/12epjwgpjviociytiy10/event/index.html\">Listen to the earnings call\u003c/a>.\u003c/li>\n\u003cli>\u003ca href=\"http://live.cnet.com/Event/Apple_third-quarter_earnings_call_live_blog?Page=0\">Follow CNET's live coverage\u003c/a>.\u003ca href=\"http://www.macworld.com/article/2013103/live-blog-apple-fourth-quarter-earnings-conference-call.html\">\u003cbr>\nFollow Macworld's live coverage.\u003c/a>\u003c/li>\n\u003cli>\u003ca href=\"http://www.thestreet.com/story/11748335/1/apple-earnings-live-blog.html?cm_ven=GOOGLEN\">Follow The Street's live coverage.\u003c/a>\u003c/li>\n\u003c/ul>\n\u003c/aside>\n\u003cp>Here's a \u003ca href=\"http://www.reuters.com/article/2012/10/24/us-apple-earnings-technicals-idUSBRE89N1J920121024\">report from Reuters\u003c/a> writer Rodrigo Campos:\u003c/p>\n\u003cblockquote>\u003cp>Apple Inc seems to still be the drug of choice for consumers of all stripes looking for sleek gadgetry. But traders are starting to doubt the hype, and the stock's technicals are painting a bleak picture ahead of Apple's earnings due Thursday.\u003c/p>\u003c/blockquote>\n\u003cp>And here's a\u003ca href=\"http://news.cnet.com/8301-13579_3-57477954-37/apple-earnings-ipad-boom-likely-iphone-hmmm/\"> CNET report\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>Savvy consumers, who have gotten wise to Apple's annual product upgrade and are expecting a new model this fall, may have held back on purchasing an iPhone during the quarter. That happened in the quarter that followed Apple's typical iPhone launch period last year with the belated \u003ca href=\"http://www.cnet.com/iphone-4s/\">iPhone 4S\u003c/a>, which led to \u003ca title=\"Despite strength, Apple earnings miss the mark -- Tuesday, Oct 18, 2011\" href=\"http://news.cnet.com/8301-27076_3-20122163-248/despite-strength-apple-earnings-miss-the-mark/\">Apple missing Wall Street's estimates\u003c/a>. In a research note last week, Toni Sacconaghi, of Bernstein Research, suggested that the very same thing could happen once again, but that sales of the device may not be the only thing to blame.\u003c/p>\n\u003cfigure id=\"attachment_79001\" class=\"wp-caption alignright\" style=\"max-width: 210px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg1.jpg\">\u003cimg class=\"size-large wp-image-79001 \" title=\"ipag mini as jpeg\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg1-892x1024.jpg\" alt=\"\" width=\"210\" height=\"240\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Apple launched a smaller version of its popular iPad on Tuesday. (Apple Computer)\u003c/figcaption>\u003c/figure>\n\u003cp>\"We see a reasonable probability that Apple will miss consensus revenue expectations due to macro-economic weakness in China and Europe, a product cycle lull in the iPhone, a later than expected introduction of the new iPad into China, and the late quarter introduction of new \u003ca href=\"http://www.cnet.com/apple-mac.html\">Mac\u003c/a> notebooks,\" Sacconaghi wrote. All that could lead up to earnings of $10.24 on revenue of $35.5 billion, he added.\u003c/p>\u003c/blockquote>\n\u003cp> \u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cfigure id=\"attachment_78839\" class=\"wp-caption alignleft\" style=\"max-width: 303px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/facebook.jpg\">\u003cimg class=\"size-large wp-image-78839\" title=\"TO GO WITH US-IT-Internet-IPO-Facebook-A\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/facebook-1024x681.jpg\" alt=\"\" width=\"303\" height=\"201\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">(Ted Aljibe/AFP/GettyImages)\u003c/figcaption>\u003c/figure>\n\u003cp>NEW YORK (AP) — Facebook is reporting a loss for its third quarter, though revenue rose by nearly a third. The results exceeded Wall Street's expectations.\u003c/p>\n\u003cp>The world's biggest social media company posted a loss of $59 million, or 2 cents per share, in the July-September period. That's down from earnings of $227 million, or 10 cents per share a year ago, when Facebook was still privately held.\u003c/p>\n\u003cp>Excluding special items, mainly related stock compensation expenses, Facebook earned $311 million, or 12 cents per share, in the latest quarter.\u003c/p>\n\u003caside class=\"pullquote alignleft\">\u003ca href=\"http://www.marketwatch.com/story/zynga-confirms-layoffs-cost-reductions-2012-10-23\">Read why Zynga is laying off 5 percent of its workforce\u003c/a>.\n\u003cp>\u003ca href=\"http://investor.fb.com/results.cfm\">Listen to the Facebook earnings call, or read its media release.\u003c/a>\u003c/p>\u003c/aside>\n\u003cp>Revenue rose 32 percent to $1.26 billion from $954 million.\u003c/p>\n\u003cp>Analysts had expected earnings of 11 cents per share on revenue of $1.23 billion, according to FactSet.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Menlo Park, Calif.-based Facebook's stock is up 90 cents, or 4.6 percent, to $20.40 in after-hours trading.\u003c/p>\n\n",
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"content": "\u003cp>by Michael Liedtke and Peter Svensson, AP Technology Writers\u003c/p>\n\u003cp>SAN JOSE, Calif. (AP) — Apple Inc. on Tuesday revealed a smaller version of its hit iPad tablet computer that will start at $329 and comes with a screen that's about two-thirds the size of the full-size model.\u003c/p>\n\u003cfigure id=\"attachment_78828\" class=\"wp-caption alignleft\" style=\"max-width: 311px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg.jpg\">\u003cimg class=\"size-large wp-image-78828\" title=\"ipag mini as jpeg\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg-892x1024.jpg\" alt=\"\" width=\"311\" height=\"356\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The new iPad Mini can be held in one hand. (Apple)\u003c/figcaption>\u003c/figure>\n\u003cp>Apple starts taking orders for the new model on Friday Oct. 26 and will ship the Wi-Fi-only models on Nov. 2, said marketing chief Phil Schiller at an event in San Jose, Calif. Later, the company will add models capable of accessing \"LTE\" wireless data networks.\u003c/p>\n\u003cp>The iPad mini weighs 0.68 pounds, half as much as the full-size iPad, and is as thin as a pencil, Schiller said.\u003c/p>\n\u003cp>The screen resolution is 1024 by 768 pixels, the same as the iPad 2 and a quarter of the resolution of the third-generation iPad.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\"It's not just a shrunken down iPad, it's an entirely new design,\" Schiller said.\u003c/p>\n\u003cp>Company watchers have for a year been expecting the company to release a smaller iPad to counter cheaper tablets like Amazon.com Inc.'s Kindle Fire. However, most were expecting it to cost between $250 and $300. At $329, it's twice the price of the basic Kindle Fire.\u003c/p>\n\u003cp>In a surprise, Apple also said it's upgrading its full-size iPad tablet just six months after launching a new model, doubling the speed of the processor. Previously, the company has updated the iPad once a year.\u003c/p>\n\u003cp>The fourth-generation iPad will have a better camera and work on more \"LTE\" wireless data networks around the world. Apple is also replacing the 30-pin dock connector with the new, smaller \"Lightning\" connector introduced with the iPhone 5 a month ago.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>The price of the new full-size model stays the same as the previous version, starting at $499 for a Wi-Fi-only version with 16 gigabytes of memory.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>by Michael Liedtke and Peter Svensson, AP Technology Writers\u003c/p>\n\u003cp>SAN JOSE, Calif. (AP) — Apple Inc. on Tuesday revealed a smaller version of its hit iPad tablet computer that will start at $329 and comes with a screen that's about two-thirds the size of the full-size model.\u003c/p>\n\u003cfigure id=\"attachment_78828\" class=\"wp-caption alignleft\" style=\"max-width: 311px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg.jpg\">\u003cimg class=\"size-large wp-image-78828\" title=\"ipag mini as jpeg\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/ipag-mini-as-jpeg-892x1024.jpg\" alt=\"\" width=\"311\" height=\"356\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The new iPad Mini can be held in one hand. (Apple)\u003c/figcaption>\u003c/figure>\n\u003cp>Apple starts taking orders for the new model on Friday Oct. 26 and will ship the Wi-Fi-only models on Nov. 2, said marketing chief Phil Schiller at an event in San Jose, Calif. Later, the company will add models capable of accessing \"LTE\" wireless data networks.\u003c/p>\n\u003cp>The iPad mini weighs 0.68 pounds, half as much as the full-size iPad, and is as thin as a pencil, Schiller said.\u003c/p>\n\u003cp>The screen resolution is 1024 by 768 pixels, the same as the iPad 2 and a quarter of the resolution of the third-generation iPad.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\"It's not just a shrunken down iPad, it's an entirely new design,\" Schiller said.\u003c/p>\n\u003cp>Company watchers have for a year been expecting the company to release a smaller iPad to counter cheaper tablets like Amazon.com Inc.'s Kindle Fire. However, most were expecting it to cost between $250 and $300. At $329, it's twice the price of the basic Kindle Fire.\u003c/p>\n\u003cp>In a surprise, Apple also said it's upgrading its full-size iPad tablet just six months after launching a new model, doubling the speed of the processor. Previously, the company has updated the iPad once a year.\u003c/p>\n\u003cp>The fourth-generation iPad will have a better camera and work on more \"LTE\" wireless data networks around the world. Apple is also replacing the 30-pin dock connector with the new, smaller \"Lightning\" connector introduced with the iPhone 5 a month ago.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>The price of the new full-size model stays the same as the previous version, starting at $499 for a Wi-Fi-only version with 16 gigabytes of memory.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cfigure id=\"attachment_78686\" class=\"wp-caption alignright\" style=\"max-width: 320px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/80Traffic.jpg\">\u003cimg class=\"size-full wp-image-78686\" title=\"80Traffic\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/10/80Traffic.jpg\" alt=\"\" width=\"320\" height=\"175\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">A normal midday traffic snarl on westbound I-80 in Emeryville.\u003c/figcaption>\u003c/figure>\n\u003cp>Bay Area drivers have some notoriously bad daily commutes, but if you’re looking for the stretch of freeway with top bragging rights, look no further than the Interstate 80 corridor through Richmond and Berkeley. Caltrans ranks it as the worst traffic in the Bay Area.\u003c/p>\n\u003cp>Now, Caltrans and regional transportation groups are kicking off an $80 million dollar project to improve that stat – not through new freeways lanes but through technology.\u003c/p>\n\u003cp>Weekday or weekend, the traffic is almost constant between the Carquinez Bride and Bay Bridge – as I found when I tried to get to the midday press conference about that very subject on Friday.\u003c!--more-->\u003c/p>\n\u003cp>The coincidence wasn’t lost on Bijan Sartipi, director of Caltrans District 4. “There are 290,000 cars that travel through this corridor every single day. And every single what you see behind me does occur, which is congestion,” he says.\u003c/p>\n\u003cp>The numbers don’t lie – add up all the time lost by each car and it’s more than 7,500 hours of delay each day, not to mention the added air pollution. But with San Francisco Bay on one side and buildings on the other, there’s no room to widen the road.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>“We can’t just keep building ourselves out of congestion. We have to better manage the traffic,” says Sartipi.\u003c/p>\n\u003cp>So, Caltrans is going high-tech.\u003c/p>\n\u003cp>\u003cstrong>Project number one\u003c/strong>: Install advanced metering lights at the on-ramps which space out the cars entering the freeway and give special preference to buses.\u003c/p>\n\u003cp>\u003cstrong>Project number two\u003c/strong>: Banks of signs over each lane of traffic displaying real-time information. “So what the drivers will see is actually more information about the lane that they’re driving in. If a lane is closed, you will see a red X mark in that lane.” That will move cars out of lanes with accidents. The signs will also have changing speed limits, so cars slow down more gradually to improve traffic flow.\u003c/p>\n\u003cp>\u003cstrong>Project number three\u003c/strong>: Traffic signal coordination with the main parallel route, San Pablo Avenue, so street traffic doesn’t back up there. All the systems will go through a main Caltrans information center.\u003c/p>\n\u003cp>\u003cstrong>Check out this video for more about how it will work:\u003c/strong>\u003cbr>\n\u003ciframe src=\"http://player.vimeo.com/video/25423461?title=0&byline=0&portrait=0\" frameborder=\"0\" width=\"400\" height=\"300\">\u003c/iframe>\u003c/p>\n\u003cp>Sartipi says when it’s all in place in mid-2015, the project should reduce travel time by 16 percent.\u003c/p>\n\u003cp>Will it really work? “People should be very grateful for these projects, because they’re going to make their life much easier,” says Alex Bayen of the University of California, Berkeley’s Institute for Transportation Studies. These real-time techniques have been proven in other countries, he says, which are actually ahead of the Bay Area in adopting them.\u003c/p>\n\u003cp>Just take the variable speed limits. “Conceptually it’s very easy for people to understand if you have a bunch of people running to certain point, you can see how that’s an unstable system. So if you’re preventing them from running that fast, you can see how you can smooth things out,” he says.\u003c/p>\n\u003cp>Bayen says these tools won’t solve traffic problems long term with the Bay Area’s ever-growing population. There's a mathematical limit on the number of cars a freeway can handle.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>But engineers have more tricks to try before giving in to gridlock: Someday self-driving cars could pick routes more logically than the most rational human.\u003c/p>\n\n",
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"content": "\u003cp>Imagine breaking a crown, rushing to the dentist and getting a new one printed out and cemented in place right there and then. Furturistic, right?\u003c/p>\n\u003cp>Actually the technology already exists. But only 10 percent of dentists are using it, mainly because the equipment has been so expensive — until now, according to Parag Kachalia, a professor at the University of the Pacific Dental School in San Francisco.\u003c/p>\n\u003cp>Fifteen years ago, when the digital equipment first became available, the price tag was over $115,000. While dentists make a healthy income (the average is around $200,000 a year) that was too much for most of them to bite off at once.\u003c/p>\n\u003cp>But at the annual meeting of the American Dental Association in San Francisco on Thursday, 3M is selling for the first time a $11,995 scanner that makes three-dimensional images of your mouth. \u003ca href=\"http://www.youtube.com/watch?v=mikjG3cYyCo&feature=share&list=UUtouzyMznpvju4bv4uK8ybw\">Here’s a video of the scanner.\u003c/a>\u003c/p>\n\u003cp>The 3M scanner doesn’t get you all the way to a new tooth. The image has to be sent to a lab which has equipment to carve the tooth out of a block.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>Even this has some advantages because you don’t get the goopy material in your mouth that dentists would otherwise use to make a model of the tooth that need repair.\u003c/p>\n\u003cp>“We’re able to go around the mouth without having to gag the patient,” Kachalia told me.\u003c/p>\n\u003cp>The technology uses light, not radiation, so you don’t have to worry about being bombarded with x-ray beams.\u003c/p>\n\u003cp>Those dentists who have plunged all the way into the new technology can also make the crowns while you wait. The machines they use don’t actually print the teeth, though it seems that way. Instead they use tiny saws similar to dentists’ drills to carve the tooth out of a block of ceramic.\u003c/p>\n\u003cp>\u003cstrong>Here’s a look at a mill in action:\u003c/strong>\u003cbr>\n\u003ciframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"http://www.youtube.com/embed/RYjwO4YBrRg?rel=0\" frameborder=\"0\" allowfullscreen>\u003c/iframe>\u003c/p>\n\u003cp>Some of these are then fired in a kiln.\u003c/p>\n\u003cp>All this has gotten faster and more accurate, so that the crowns made this way are every bit as good as the ones made in laboratories, at least as far as their function goes, said Kachalia.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>How good they look depends on the artistry of the dentist or someone else in the office, who uses stains and glazes to give it a color as close as possible to your natural teeth.\u003c/p>\n\n",
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"disqusTitle": "Google Stock Drops After Disappointing Earnings Report Prematurely Released",
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"content": "\u003cp>SAN FRANCISCO (AP) As far as unpleasant surprises go, Google hit Wall Street with a double whammy Thursday.\u003c/p>\n\u003cp>The Internet search leader that prides itself of organizing the world's information lost control of its own data when a contractor released its third-quarter earnings report more than three hours before the numbers were supposed to come out. \u003c/p>\n\u003caside class=\"pullquote alignleft\">\n\u003cul>\n\u003cli>\u003ca href=\"http://finance.yahoo.com/q?s=goog&ql=1\">\u003cstrong>GOOG stock quote\u003c/strong>\u003c/a>\u003c/li>\n\u003cli>\u003cstrong>\u003ca href=\"http://www.youtube.com/googleir\">Google earnings call\u003c/a>\u003c/strong>\u003c/li>\n\u003c/ul>\n\u003c/aside>\n\u003cp>As if that wasn't jarring enough, the results alarmed investors because the company's earnings and revenue fell well below analyst projections. The disappointment triggered an 8 percent drop in Google's stock price that erased about $20 billion in shareholder wealth.\u003c/p>\n\u003cp>``This is a monumental failure of epic proportions,'' said Michael Robinson, an executive vice president for the Levick Strategic Communications, which specializes in financial crisis management. ``This was bad news compounded by bad process. It came out in the worst way possible.''\u003c/p>\n\u003cp>Google Inc. blamed printer R.R. Donnelley & Sons Co. for filing the company's quarterly statement with the Securities and Exchange Commission more than three hours ahead of schedule.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>``We are fully engaged in an investigation to determine how this event took place and are pursuing our first obligation, which is to serve our valued customer,'' R.R. Donnelley said in a statement.\u003c/p>\n\u003cp>The embarrassing mix-up prompted Google CEO Larry Page to preface his review of the quarter with an apology during a conference call with analysts. \u003c!--more-->\u003c/p>\n\u003cp>``I am sorry for the scramble earlier today,'' Page said, still sounding hoarse from a mysterious throat ailment. The problem left Page unable to speak during the summer, causing him to skip Google's second-quarter earnings call three months ago.\u003c/p>\n\u003cp>Page went on to paint a bright picture, not only of the most recent quarter, but for the next few years. ``Every day, I wake up and I am delighted about our opportunities to keep growing,'' he said. \u003c/p>\n\u003cp>The pep talk didn't immediately resonate with investors. \u003c/p>\n\u003cp>Google's stock initially plunged more than 9 percent after the early release of the results. Trading was then suspended to allow more time for the information to be digested. After a nearly three-hour break, investors decided the results weren't quite as bad as they initially appeared, and the shares recovered slightly. \u003c/p>\n\u003cp>Even so, the stock wound up dropping $60.49, or 8 percent, to close at $695.\u003c/p>\n\u003cp>The sell-off reflects a reversal of the optimistic sentiment that had propelled Google's stock to an all-time high earlier this month. The stock had surged 27 percent in the three months before Thursday's unsettling developments.\u003c/p>\n\u003cp>Google earned $2.18 billion, or $6.53 per share, during the three months ending in September. That compared with net income of $2.73 billion, or $8.33 per share, last year. \u003c/p>\n\u003cp>The earnings would have been $9.03 per share, if not for Google's accounting costs for employee stock compensation and the Motorola charges. Analysts polled by FactSet were expecting $10.63 per share, on average.\u003c/p>\n\u003cp>Revenue climbed 45 percent from last year to $14.1 billion. Excluding compensation for websites that generate traffic for Google's ads, revenue was $11.33 billion. Analysts were expecting $11.86 billion\u003c/p>\n\u003cp>Most of the trouble appeared to be concentrated in Motorola Mobility, a troubled cellphone maker that Google bought for $12.4 billion in May. Analysts have been fretting that Motorola Mobility would turn into a financial albatross, and some of those fears appeared to be realized in the latest quarter spanning from July through September.\u003c/p>\n\u003cp>The device maker suffered an operating loss of $527 million, more than tripling from the same time last year when it was still an independent company. \u003c/p>\n\u003cp>Google is trying to improve Motorola Mobility's performance by laying off about 20 percent of its workforce -- about 4,000 employees _ and closing one-third of its 90 plants and office. Those cost-cutting measures resulted in $349 million in charges during the quarter. But it still could take a few years for Google to turn around Motorola Mobility, Chief Financial Officer Patrick Pichette said on the conference call.\u003c/p>\n\u003cp>The stronger dollar also hurt Google, just as it has many other U.S. companies that do a lot of business in other countries. That's because overseas sales are now translating into fewer dollars than a year ago, resulting in less revenue. Excluding Motorola Mobility, Google said its revenue for the latest quarter would have been $557 million, or 5 percent higher, if currencies had remained at the same levels as a year ago.\u003c/p>\n\u003cp>But there were also some worrisome signs in Google's main business of selling online advertising.\u003c/p>\n\u003cp>Google's ad revenue rose 16 percent from the same time last year, the slowest pace in three years. The company's ad revenue had climbed by at least 21 percent in each of the previous 10 quarters.\u003c/p>\n\u003cp>Advertising accounts for 77 percent of Google's revenue. The rest comes from Motorola Mobility and other products, such as Google's recently released Nexus 7 tablet computer.\u003c/p>\n\u003cp>As has been the case for the past year, the average prices companies pay Google for ads appearing alongside search results also fell. The year-over-year decline for advertiser's ``cost-per-click'' on Google's ads declined 15 percent from the same time last year. \u003c/p>\n\u003cp>The decelerating growth in ad revenue is likely being driven by the growing use of smartphones and tablet computers to access the Internet. \u003c/p>\n\u003cp>The ads are more difficult to see on smartphones, in particular, so marketers aren't willing to pay as much for those commercial messages as they do for ads that are seen by people on personal computers. And people relying on mobile devices tend to use specially designed applications that so far haven't been set up to show as many ads as can be seen in Web browsers. People using mobile apps also have less reason to conduct searches on Google, depriving the company of opportunities to show ads.\u003c/p>\n\u003cp>``I am not at all worried about this because I think we are better position than most companies,'' Page assured analysts.\u003c/p>\n\u003cp>Google is reaping more revenue from the rapidly growing mobile market, largely because of its Android software than now powers more than 500 million devices. The company gives away Android to device makers, but the software is fruitful for Google because it's designed to drive up more traffic to its search engine and other services that show ads.\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>Page said the mobile market is now generating about $8 billion in annual revenue, including sales of applications, video, books and music in its Play store. Not all of those, sales, though, are recorded in Google's books because most of the money goes to developers, studios and publishers. A year ago, Google said the mobile market was generating about $2.5 billion in annual revenue, but that figure consisted entirely of ads, so it's not an apples-to-apples comparison to the $8 billion.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>SAN FRANCISCO (AP) As far as unpleasant surprises go, Google hit Wall Street with a double whammy Thursday.\u003c/p>\n\u003cp>The Internet search leader that prides itself of organizing the world's information lost control of its own data when a contractor released its third-quarter earnings report more than three hours before the numbers were supposed to come out. \u003c/p>\n\u003caside class=\"pullquote alignleft\">\n\u003cul>\n\u003cli>\u003ca href=\"http://finance.yahoo.com/q?s=goog&ql=1\">\u003cstrong>GOOG stock quote\u003c/strong>\u003c/a>\u003c/li>\n\u003cli>\u003cstrong>\u003ca href=\"http://www.youtube.com/googleir\">Google earnings call\u003c/a>\u003c/strong>\u003c/li>\n\u003c/ul>\n\u003c/aside>\n\u003cp>As if that wasn't jarring enough, the results alarmed investors because the company's earnings and revenue fell well below analyst projections. The disappointment triggered an 8 percent drop in Google's stock price that erased about $20 billion in shareholder wealth.\u003c/p>\n\u003cp>``This is a monumental failure of epic proportions,'' said Michael Robinson, an executive vice president for the Levick Strategic Communications, which specializes in financial crisis management. ``This was bad news compounded by bad process. It came out in the worst way possible.''\u003c/p>\n\u003cp>Google Inc. blamed printer R.R. Donnelley & Sons Co. for filing the company's quarterly statement with the Securities and Exchange Commission more than three hours ahead of schedule.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>``We are fully engaged in an investigation to determine how this event took place and are pursuing our first obligation, which is to serve our valued customer,'' R.R. Donnelley said in a statement.\u003c/p>\n\u003cp>The embarrassing mix-up prompted Google CEO Larry Page to preface his review of the quarter with an apology during a conference call with analysts. \u003c!--more-->\u003c/p>\n\u003cp>``I am sorry for the scramble earlier today,'' Page said, still sounding hoarse from a mysterious throat ailment. The problem left Page unable to speak during the summer, causing him to skip Google's second-quarter earnings call three months ago.\u003c/p>\n\u003cp>Page went on to paint a bright picture, not only of the most recent quarter, but for the next few years. ``Every day, I wake up and I am delighted about our opportunities to keep growing,'' he said. \u003c/p>\n\u003cp>The pep talk didn't immediately resonate with investors. \u003c/p>\n\u003cp>Google's stock initially plunged more than 9 percent after the early release of the results. Trading was then suspended to allow more time for the information to be digested. After a nearly three-hour break, investors decided the results weren't quite as bad as they initially appeared, and the shares recovered slightly. \u003c/p>\n\u003cp>Even so, the stock wound up dropping $60.49, or 8 percent, to close at $695.\u003c/p>\n\u003cp>The sell-off reflects a reversal of the optimistic sentiment that had propelled Google's stock to an all-time high earlier this month. The stock had surged 27 percent in the three months before Thursday's unsettling developments.\u003c/p>\n\u003cp>Google earned $2.18 billion, or $6.53 per share, during the three months ending in September. That compared with net income of $2.73 billion, or $8.33 per share, last year. \u003c/p>\n\u003cp>The earnings would have been $9.03 per share, if not for Google's accounting costs for employee stock compensation and the Motorola charges. Analysts polled by FactSet were expecting $10.63 per share, on average.\u003c/p>\n\u003cp>Revenue climbed 45 percent from last year to $14.1 billion. Excluding compensation for websites that generate traffic for Google's ads, revenue was $11.33 billion. Analysts were expecting $11.86 billion\u003c/p>\n\u003cp>Most of the trouble appeared to be concentrated in Motorola Mobility, a troubled cellphone maker that Google bought for $12.4 billion in May. Analysts have been fretting that Motorola Mobility would turn into a financial albatross, and some of those fears appeared to be realized in the latest quarter spanning from July through September.\u003c/p>\n\u003cp>The device maker suffered an operating loss of $527 million, more than tripling from the same time last year when it was still an independent company. \u003c/p>\n\u003cp>Google is trying to improve Motorola Mobility's performance by laying off about 20 percent of its workforce -- about 4,000 employees _ and closing one-third of its 90 plants and office. Those cost-cutting measures resulted in $349 million in charges during the quarter. But it still could take a few years for Google to turn around Motorola Mobility, Chief Financial Officer Patrick Pichette said on the conference call.\u003c/p>\n\u003cp>The stronger dollar also hurt Google, just as it has many other U.S. companies that do a lot of business in other countries. That's because overseas sales are now translating into fewer dollars than a year ago, resulting in less revenue. Excluding Motorola Mobility, Google said its revenue for the latest quarter would have been $557 million, or 5 percent higher, if currencies had remained at the same levels as a year ago.\u003c/p>\n\u003cp>But there were also some worrisome signs in Google's main business of selling online advertising.\u003c/p>\n\u003cp>Google's ad revenue rose 16 percent from the same time last year, the slowest pace in three years. The company's ad revenue had climbed by at least 21 percent in each of the previous 10 quarters.\u003c/p>\n\u003cp>Advertising accounts for 77 percent of Google's revenue. The rest comes from Motorola Mobility and other products, such as Google's recently released Nexus 7 tablet computer.\u003c/p>\n\u003cp>As has been the case for the past year, the average prices companies pay Google for ads appearing alongside search results also fell. The year-over-year decline for advertiser's ``cost-per-click'' on Google's ads declined 15 percent from the same time last year. \u003c/p>\n\u003cp>The decelerating growth in ad revenue is likely being driven by the growing use of smartphones and tablet computers to access the Internet. \u003c/p>\n\u003cp>The ads are more difficult to see on smartphones, in particular, so marketers aren't willing to pay as much for those commercial messages as they do for ads that are seen by people on personal computers. And people relying on mobile devices tend to use specially designed applications that so far haven't been set up to show as many ads as can be seen in Web browsers. People using mobile apps also have less reason to conduct searches on Google, depriving the company of opportunities to show ads.\u003c/p>\n\u003cp>``I am not at all worried about this because I think we are better position than most companies,'' Page assured analysts.\u003c/p>\n\u003cp>Google is reaping more revenue from the rapidly growing mobile market, largely because of its Android software than now powers more than 500 million devices. The company gives away Android to device makers, but the software is fruitful for Google because it's designed to drive up more traffic to its search engine and other services that show ads.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>Page said the mobile market is now generating about $8 billion in annual revenue, including sales of applications, video, books and music in its Play store. Not all of those, sales, though, are recorded in Google's books because most of the money goes to developers, studios and publishers. A year ago, Google said the mobile market was generating about $2.5 billion in annual revenue, but that figure consisted entirely of ads, so it's not an apples-to-apples comparison to the $8 billion.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"title": "A.M. Splash: PG&E Hearing Delayed; Feds Warn of Chinese Firms in Silicon Valley; Chevron Funds Richmond Candidates; SpaceX Rocket Launched",
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"content": "\u003cul>\n\u003cli>\u003ca href=\"http://www.mercurynews.com/peninsula/ci_21721507/assemblyman-cries-foul-over-regulators-motion-suspend-pg\">Assemblyman cries foul over regulators’ motion to suspend PG&E pipeline hearings\u003c/a> (SJ Mercury News)\u003cbr>\n\u003cblockquote>\u003cp>A San Mateo legislator is crying foul over a last-minute motion filed by the California Public Utilities Commission to suspend hearings over PG&E’s penalties and pipeline upgrade costs in the wake of the infamous 2010 San Bruno explosion. State regulators and the energy giant, however, say they merely want to put the hearings on hold for a month so they can focus on finishing concurrent settlement negotiations also related to the gas pipeline blast that destroyed a San Bruno neighborhood, killing eight people and causing hundreds of millions of dollars in property damage.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21727025/feds-issue-warning-about-two-chinese-firms-bay\">Feds issue warning about two Chinese firms with Bay Area branches\u003c/a> (SJ Mercury News)\u003cbr>\n\u003cblockquote>\u003cp>Doing business with two Chinese telecommunications-equipment makers — including one with a growing Silicon Valley office — could pose a security threat to the U.S. because of the firms’ apparent ties to the Chinese government, a Congressional report warned Monday. “Based on available classified and unclassified information, Huawei and ZTE cannot be trusted to be free of foreign state influence and thus pose a security threat to the United States and to our systems,” according to the report by the U.S. House Permanent Select Committee on Intelligence.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/news/ci_21726523/chevron-spends-big-richmond-elections\">Chevron spends big on Richmond City Council election\u003c/a> (Contra Costa Times)\u003cbr>\n\u003cblockquote>\u003cp>Chevron Corp. has put $1.2 million into a campaign committee backing three candidates for City Council. A California Form 460 submitted to the City Clerk on Friday shows the energy giant’s contribution to a committee called “Moving Forward.” The committee is described in the form as a “coalition of labor unions, small business, public safety and firefighters associations,” but all of the $1.2 million donated to the committee this year has come from Chevron, which operates a major refinery in the city. \u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.csmonitor.com/Science/2012/1009/Private-rocket-glitch-SpaceX-launch-anomaly-won-t-scrap-mission\">Private rocket glitch: SpaceX launch anomaly won’t scrap mission\u003c/a> (Christian Science Monitor)\u003cbr>\n\u003cblockquote>\u003cp>The rocket that lofted SpaceX’s Dragon cargo capsule to orbit Sunday night (Oct. 7) experienced a minor glitch during the successful launch, company officials say. SpaceX’s Falcon 9 rocket detected an anomaly in one of its nine first-stage engines 79 seconds into the flight, which kicked off the first-ever bona fide private cargo mission to the International Space Station. The engine apparently lost pressure suddenly, at which point the Falcon 9 issued an engine shutdown command, officials said. “We know the engine did not explode, because we continued to receive data from it,” SpaceX officials said in an update released Monday (Oct. 7). “Our review indicates that the fairing that protects the engine from aerodynamic loads ruptured due to the engine pressure release, and that none of Falcon 9’s other eight engines were impacted by this event.”\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21727043/tammerlin-drummond-oakland-quietly-launches-ceasefire\">Drummond: Oakland quietly launches Ceasefire\u003c/a> (Oakland Tribune)\u003cbr>\n\u003cblockquote>\u003cp>There are some 30 invitations going out to an event that the recipients most definitely do not want to attend. Those on probation or parole won’t have a choice. The others on the list — which consists of all men — will be approached by church and other community leaders and strong-armed into coming for their own good. How many will actually show up depends upon how many authorities can locate. All of the men have been identified by law enforcement as members of the 14 most dangerous groups and gangs that authorities say are responsible for many of the shootings and homicides that have ravaged East Oakland.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/oakland-tribune/ci_21727450/protesters-run-wild-downtown-oakland-police-say-they\">Protesters run wild in downtown Oakland; police say they were caught by surprise\u003c/a> (Oakland Tribune)\u003cbr>\n\u003cblockquote>\u003cp> A protest at City Hall that surprised both the Police Department and top city officials caused more than $12,000 in damage to public buildings and thousands more to private businesses, city officials said Monday. A day after about 200 protesters roamed downtown streets with no consequences, smashing windows of businesses and city offices, city officials were still trying to explain why no one was arrested and why police were unprepared.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21726517/gay-boy-scout-from-moraga-scheduled-thursday-appearance\">Gay Boy Scout from Moraga scheduled for Thursday appearance on ‘Ellen’\u003c/a> (Contra Costa Times)\u003cbr>\n\u003cblockquote>\u003cp> Ryan Andresen, the Moraga Boy Scout who has received a flood of support online after his recent dismissal from the Boy Scouts following his admission he is gay, is scheduled to appear Thursday on “The Ellen DeGeneres Show,” according to the show’s website. Andresen, who turned 18 on Monday, had completed all the requirements for his Eagle Scout award — the highest honor in Boy Scouting — when he came out as gay.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.sfgate.com/bayarea/article/Obama-pursues-base-bucks-in-California-3930415.php\">Obama pursues base, bucks in California\u003c/a> (SF Chronicle)\u003cbr>\n\u003cblockquote>\u003cp>On a visit to pick up California votes and cash, President Obama said in San Francisco on Monday night that “I very much intend to win this election” and implored supporters to redouble their efforts because “we’re only going to do it if everybody is almost obsessive for the next 29 days.” It was a provocative statement on the day when he started to see blowback in the polls from his widely panned debate performance last week.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\n\u003c/li>\u003cli>\u003ca href=\"http://www.sfgate.com/bayarea/nevius/article/No-quick-resolution-to-Mirkarimi-case-3929689.php\">No quick resolution to Mirkarimi case\u003c/a> (SF Chronicle)\u003cbr>\n\u003cblockquote>\u003cp>The Board of Supervisors finally hearing the official misconduct charges for suspended Sheriff Ross Mirkarimi sounds like a cause for celebration. Finally, everyone gets some closure on this long, strange soap opera. Don’t bet on it.\n\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21726725/intels-mcafee-security-group-plans-layoffs\">Intel’s McAfee security group plans layoffs\u003c/a> (Oakland Tribune)\u003cbr>\n\u003cblockquote>\u003cp>McAfee security division is planning to lay off a “small percentage” of its workforce of about 7,100 employees, a company spokesman said Monday. McAfee spokesman Ian Bain said he could not provide more information about the planned job cuts, which the world’s No. 2 maker of anti-virus software disclosed in response to an inquiry from Reuters.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\n\u003cli>\n\u003cli>\n\u003c/ul>\n\u003cp>[ad fullwidth]\u003c/p>\u003cp>\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cul>\n\u003cli>\u003ca href=\"http://www.mercurynews.com/peninsula/ci_21721507/assemblyman-cries-foul-over-regulators-motion-suspend-pg\">Assemblyman cries foul over regulators’ motion to suspend PG&E pipeline hearings\u003c/a> (SJ Mercury News)\u003cbr>\n\u003cblockquote>\u003cp>A San Mateo legislator is crying foul over a last-minute motion filed by the California Public Utilities Commission to suspend hearings over PG&E’s penalties and pipeline upgrade costs in the wake of the infamous 2010 San Bruno explosion. State regulators and the energy giant, however, say they merely want to put the hearings on hold for a month so they can focus on finishing concurrent settlement negotiations also related to the gas pipeline blast that destroyed a San Bruno neighborhood, killing eight people and causing hundreds of millions of dollars in property damage.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21727025/feds-issue-warning-about-two-chinese-firms-bay\">Feds issue warning about two Chinese firms with Bay Area branches\u003c/a> (SJ Mercury News)\u003cbr>\n\u003cblockquote>\u003cp>Doing business with two Chinese telecommunications-equipment makers — including one with a growing Silicon Valley office — could pose a security threat to the U.S. because of the firms’ apparent ties to the Chinese government, a Congressional report warned Monday. “Based on available classified and unclassified information, Huawei and ZTE cannot be trusted to be free of foreign state influence and thus pose a security threat to the United States and to our systems,” according to the report by the U.S. House Permanent Select Committee on Intelligence.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/news/ci_21726523/chevron-spends-big-richmond-elections\">Chevron spends big on Richmond City Council election\u003c/a> (Contra Costa Times)\u003cbr>\n\u003cblockquote>\u003cp>Chevron Corp. has put $1.2 million into a campaign committee backing three candidates for City Council. A California Form 460 submitted to the City Clerk on Friday shows the energy giant’s contribution to a committee called “Moving Forward.” The committee is described in the form as a “coalition of labor unions, small business, public safety and firefighters associations,” but all of the $1.2 million donated to the committee this year has come from Chevron, which operates a major refinery in the city. \u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.csmonitor.com/Science/2012/1009/Private-rocket-glitch-SpaceX-launch-anomaly-won-t-scrap-mission\">Private rocket glitch: SpaceX launch anomaly won’t scrap mission\u003c/a> (Christian Science Monitor)\u003cbr>\n\u003cblockquote>\u003cp>The rocket that lofted SpaceX’s Dragon cargo capsule to orbit Sunday night (Oct. 7) experienced a minor glitch during the successful launch, company officials say. SpaceX’s Falcon 9 rocket detected an anomaly in one of its nine first-stage engines 79 seconds into the flight, which kicked off the first-ever bona fide private cargo mission to the International Space Station. The engine apparently lost pressure suddenly, at which point the Falcon 9 issued an engine shutdown command, officials said. “We know the engine did not explode, because we continued to receive data from it,” SpaceX officials said in an update released Monday (Oct. 7). “Our review indicates that the fairing that protects the engine from aerodynamic loads ruptured due to the engine pressure release, and that none of Falcon 9’s other eight engines were impacted by this event.”\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21727043/tammerlin-drummond-oakland-quietly-launches-ceasefire\">Drummond: Oakland quietly launches Ceasefire\u003c/a> (Oakland Tribune)\u003cbr>\n\u003cblockquote>\u003cp>There are some 30 invitations going out to an event that the recipients most definitely do not want to attend. Those on probation or parole won’t have a choice. The others on the list — which consists of all men — will be approached by church and other community leaders and strong-armed into coming for their own good. How many will actually show up depends upon how many authorities can locate. All of the men have been identified by law enforcement as members of the 14 most dangerous groups and gangs that authorities say are responsible for many of the shootings and homicides that have ravaged East Oakland.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/oakland-tribune/ci_21727450/protesters-run-wild-downtown-oakland-police-say-they\">Protesters run wild in downtown Oakland; police say they were caught by surprise\u003c/a> (Oakland Tribune)\u003cbr>\n\u003cblockquote>\u003cp> A protest at City Hall that surprised both the Police Department and top city officials caused more than $12,000 in damage to public buildings and thousands more to private businesses, city officials said Monday. A day after about 200 protesters roamed downtown streets with no consequences, smashing windows of businesses and city offices, city officials were still trying to explain why no one was arrested and why police were unprepared.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21726517/gay-boy-scout-from-moraga-scheduled-thursday-appearance\">Gay Boy Scout from Moraga scheduled for Thursday appearance on ‘Ellen’\u003c/a> (Contra Costa Times)\u003cbr>\n\u003cblockquote>\u003cp> Ryan Andresen, the Moraga Boy Scout who has received a flood of support online after his recent dismissal from the Boy Scouts following his admission he is gay, is scheduled to appear Thursday on “The Ellen DeGeneres Show,” according to the show’s website. Andresen, who turned 18 on Monday, had completed all the requirements for his Eagle Scout award — the highest honor in Boy Scouting — when he came out as gay.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.sfgate.com/bayarea/article/Obama-pursues-base-bucks-in-California-3930415.php\">Obama pursues base, bucks in California\u003c/a> (SF Chronicle)\u003cbr>\n\u003cblockquote>\u003cp>On a visit to pick up California votes and cash, President Obama said in San Francisco on Monday night that “I very much intend to win this election” and implored supporters to redouble their efforts because “we’re only going to do it if everybody is almost obsessive for the next 29 days.” It was a provocative statement on the day when he started to see blowback in the polls from his widely panned debate performance last week.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\n\u003c/li>\u003cli>\u003ca href=\"http://www.sfgate.com/bayarea/nevius/article/No-quick-resolution-to-Mirkarimi-case-3929689.php\">No quick resolution to Mirkarimi case\u003c/a> (SF Chronicle)\u003cbr>\n\u003cblockquote>\u003cp>The Board of Supervisors finally hearing the official misconduct charges for suspended Sheriff Ross Mirkarimi sounds like a cause for celebration. Finally, everyone gets some closure on this long, strange soap opera. Don’t bet on it.\n\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\n\u003cli>\u003ca href=\"http://www.insidebayarea.com/breaking-news/ci_21726725/intels-mcafee-security-group-plans-layoffs\">Intel’s McAfee security group plans layoffs\u003c/a> (Oakland Tribune)\u003cbr>\n\u003cblockquote>\u003cp>McAfee security division is planning to lay off a “small percentage” of its workforce of about 7,100 employees, a company spokesman said Monday. McAfee spokesman Ian Bain said he could not provide more information about the planned job cuts, which the world’s No. 2 maker of anti-virus software disclosed in response to an inquiry from Reuters.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\n\u003cli>\n\u003cli>\n\u003c/ul>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cp>NEW YORK (AP) — Apple CEO Tim Cook says the company is \"extremely sorry\" for the \u003ca href=\"http://ww2.kqed.org/news/2012/09/24/what-san-francisco-looks-like-in-apple-maps/\">frustration\u003c/a> its Maps application has caused and it's doing everything it can to make it better. In the meantime, he recommended that people use competing map applications to get around.\u003c/p>\n\u003cfigure id=\"attachment_77023\" class=\"wp-caption alignleft\" style=\"max-width: 300px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/09/golden-gate-bridge-apple-map.jpg\">\u003cimg class=\"size-medium wp-image-77023 \" title=\"golden gate bridge apple map\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/09/golden-gate-bridge-apple-map-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Apple Maps' rendition of the Golden Gate Bridge (Apple)\u003c/figcaption>\u003c/figure>\n\u003cp>Cook said in a letter posted online Friday that Apple \"fell short\" of its commitment to make the best products for its customers.\u003c/p>\n\u003cp>\"Everything we do at Apple is aimed at making our products the best in the world. We know that you expect that from us, and we will keep working non-stop until Maps lives up to the same incredibly high standard,\" Cook said.\u003c/p>\n\u003cp>The Cupertino, Calif., company released an update to its iPhone and iPad operating system last week that replaced Google Maps with Apple's own map application. But users complained that the new map software offers fewer details, lacks public transit directions and misplaces landmarks, among other problems. Users have been flocking to social media to complain and make fun of the app's glitches.\u003c/p>\n\u003cp>It's an unusual misstep for Apple, the world's most valuable company. Apple prides itself on releasing best-of-class products. Cook said Apple's Maps will get better as more people use the app and provide feedback. Even so, he recommended some options.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\"While we're improving Maps, you can try alternatives by downloading map apps from the App Store like Bing, MapQuest and Waze, or use Google or Nokia maps by going to their websites and creating an icon on your home screen to their web app,\" Cook wrote.\u003c/p>\n\u003cp>Apple released the iPhone 5 last week and on Monday it said it sold more than 5 million of them in three days. That was fewer than analysts expected, even though the number is a record for any phone.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Shares of Cupertino, Calif.-based Apple Inc. slid $8.12 to $673.20 late Friday morning, amid a broader market decline.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>NEW YORK (AP) — Apple CEO Tim Cook says the company is \"extremely sorry\" for the \u003ca href=\"http://ww2.kqed.org/news/2012/09/24/what-san-francisco-looks-like-in-apple-maps/\">frustration\u003c/a> its Maps application has caused and it's doing everything it can to make it better. In the meantime, he recommended that people use competing map applications to get around.\u003c/p>\n\u003cfigure id=\"attachment_77023\" class=\"wp-caption alignleft\" style=\"max-width: 300px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/09/golden-gate-bridge-apple-map.jpg\">\u003cimg class=\"size-medium wp-image-77023 \" title=\"golden gate bridge apple map\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/09/golden-gate-bridge-apple-map-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Apple Maps' rendition of the Golden Gate Bridge (Apple)\u003c/figcaption>\u003c/figure>\n\u003cp>Cook said in a letter posted online Friday that Apple \"fell short\" of its commitment to make the best products for its customers.\u003c/p>\n\u003cp>\"Everything we do at Apple is aimed at making our products the best in the world. We know that you expect that from us, and we will keep working non-stop until Maps lives up to the same incredibly high standard,\" Cook said.\u003c/p>\n\u003cp>The Cupertino, Calif., company released an update to its iPhone and iPad operating system last week that replaced Google Maps with Apple's own map application. But users complained that the new map software offers fewer details, lacks public transit directions and misplaces landmarks, among other problems. Users have been flocking to social media to complain and make fun of the app's glitches.\u003c/p>\n\u003cp>It's an unusual misstep for Apple, the world's most valuable company. Apple prides itself on releasing best-of-class products. Cook said Apple's Maps will get better as more people use the app and provide feedback. Even so, he recommended some options.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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},
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"title": "The California Report Magazine",
"tagline": "Your state, your stories",
"info": "Every week, The California Report Magazine takes you on a road trip for the ears: to visit the places and meet the people who make California unique. The in-depth storytelling podcast from the California Report.",
"airtime": "FRI 4:30pm-5pm, 6:30pm-7pm, 11pm-11:30pm",
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"officialWebsiteLink": "/californiareportmagazine",
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"order": 10
},
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM3NjkwNjk1OTAz",
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},
"city-arts": {
"id": "city-arts",
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"info": "A one-hour radio program to hear celebrated writers, artists and thinkers address contemporary ideas and values, often discussing the creative process. Please note: tapes or transcripts are not available",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/05/cityartsandlecture-300x300.jpg",
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"airtime": "SUN 1pm-2pm, TUE 10pm, WED 1am",
"meta": {
"site": "news",
"source": "City Arts & Lectures"
},
"link": "https://www.cityarts.net",
"subscribe": {
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"rss": "https://www.cityarts.net/feed/"
}
},
"closealltabs": {
"id": "closealltabs",
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"info": "Close All Tabs breaks down how digital culture shapes our world through thoughtful insights and irreverent humor.",
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"officialWebsiteLink": "/podcasts/closealltabs",
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"order": 1
},
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"title": "Code Switch / Life Kit",
"info": "\u003cem>Code Switch\u003c/em>, which listeners will hear in the first part of the hour, has fearless and much-needed conversations about race. Hosted by journalists of color, the show tackles the subject of race head-on, exploring how it impacts every part of society — from politics and pop culture to history, sports and more.\u003cbr />\u003cbr />\u003cem>Life Kit\u003c/em>, which will be in the second part of the hour, guides you through spaces and feelings no one prepares you for — from finances to mental health, from workplace microaggressions to imposter syndrome, from relationships to parenting. The show features experts with real world experience and shares their knowledge. Because everyone needs a little help being human.\u003cbr />\u003cbr />\u003ca href=\"https://www.npr.org/podcasts/510312/codeswitch\">\u003cem>Code Switch\u003c/em> offical site and podcast\u003c/a>\u003cbr />\u003ca href=\"https://www.npr.org/lifekit\">\u003cem>Life Kit\u003c/em> offical site and podcast\u003c/a>\u003cbr />",
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"id": "commonwealth-club",
"title": "Commonwealth Club of California Podcast",
"info": "The Commonwealth Club of California is the nation's oldest and largest public affairs forum. As a non-partisan forum, The Club brings to the public airwaves diverse viewpoints on important topics. The Club's weekly radio broadcast - the oldest in the U.S., dating back to 1924 - is carried across the nation on public radio stations and is now podcasting. Our website archive features audio of our recent programs, as well as selected speeches from our long and distinguished history. This podcast feed is usually updated twice a week and is always un-edited.",
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"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Commonwealth-Club-Podcast-Tile-360x360-1.jpg",
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"meta": {
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"source": "Commonwealth Club of California"
},
"link": "/radio/program/commonwealth-club",
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"google": "https://podcasts.google.com/feed/aHR0cDovL3d3dy5jb21tb253ZWFsdGhjbHViLm9yZy9hdWRpby9wb2RjYXN0L3dlZWtseS54bWw",
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"id": "forum",
"title": "Forum",
"tagline": "The conversation starts here",
"info": "KQED’s live call-in program discussing local, state, national and international issues, as well as in-depth interviews.",
"airtime": "MON-FRI 9am-11am, 10pm-11pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Forum-Podcast-Tile-703x703-1.jpg",
"imageAlt": "KQED Forum with Mina Kim and Alexis Madrigal",
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"source": "kqed",
"order": 9
},
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM5NTU3MzgxNjMz",
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"officialWebsiteLink": "http://freakonomics.com/",
"airtime": "SUN 1am-2am, SAT 3pm-4pm",
"meta": {
"site": "radio",
"source": "WNYC"
},
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"subscribe": {
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"apple": "https://itunes.apple.com/us/podcast/freakonomics-radio/id354668519",
"tuneIn": "https://tunein.com/podcasts/WNYC-Podcasts/Freakonomics-Radio-p272293/",
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},
"fresh-air": {
"id": "fresh-air",
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"apple": "https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?s=143441&mt=2&id=214089682&at=11l79Y&ct=nprdirectory",
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"info": "A live production of NPR and WBUR Boston, in collaboration with stations across the country, Here & Now reflects the fluid world of news as it's happening in the middle of the day, with timely, in-depth news, interviews and conversation. Hosted by Robin Young, Jeremy Hobson and Tonya Mosley.",
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},
"hidden-brain": {
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"info": "Shankar Vedantam uses science and storytelling to reveal the unconscious patterns that drive human behavior, shape our choices and direct our relationships.",
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"airtime": "SUN 7pm-8pm",
"meta": {
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"source": "NPR"
},
"link": "/radio/program/hidden-brain",
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"how-i-built-this": {
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"title": "How I Built This with Guy Raz",
"info": "Guy Raz dives into the stories behind some of the world's best known companies. How I Built This weaves a narrative journey about innovators, entrepreneurs and idealists—and the movements they built.",
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"officialWebsiteLink": "https://www.npr.org/podcasts/510313/how-i-built-this",
"airtime": "SUN 7:30pm-8pm",
"meta": {
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"source": "npr"
},
"link": "/radio/program/how-i-built-this",
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"npr": "https://rpb3r.app.goo.gl/3zxy",
"apple": "https://itunes.apple.com/us/podcast/how-i-built-this-with-guy-raz/id1150510297?mt=2",
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"hyphenacion": {
"id": "hyphenacion",
"title": "Hyphenación",
"tagline": "Where conversation and cultura meet",
"info": "What kind of no sabo word is Hyphenación? For us, it’s about living within a hyphenation. Like being a third-gen Mexican-American from the Texas border now living that Bay Area Chicano life. Like Xorje! Each week we bring together a couple of hyphenated Latinos to talk all about personal life choices: family, careers, relationships, belonging … everything is on the table. ",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2025/03/Hyphenacion_FinalAssets_PodcastTile.png",
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"officialWebsiteLink": "/podcasts/hyphenacion",
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"order": 15
},
"link": "/podcasts/hyphenacion",
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},
"jerrybrown": {
"id": "jerrybrown",
"title": "The Political Mind of Jerry Brown",
"tagline": "Lessons from a lifetime in politics",
"info": "The Political Mind of Jerry Brown brings listeners the wisdom of the former Governor, Mayor, and presidential candidate. Scott Shafer interviewed Brown for more than 40 hours, covering the former governor's life and half-century in the political game – and Brown has some lessons he'd like to share. ",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/The-Political-Mind-of-Jerry-Brown-Podcast-Tile-703x703-1.jpg",
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"officialWebsiteLink": "/podcasts/jerrybrown",
"meta": {
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"order": 18
},
"link": "/podcasts/jerrybrown",
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}
},
"latino-usa": {
"id": "latino-usa",
"title": "Latino USA",
"airtime": "MON 1am-2am, SUN 6pm-7pm",
"info": "Latino USA, the radio journal of news and culture, is the only national, English-language radio program produced from a Latino perspective.",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/04/latinoUsa.jpg",
"officialWebsiteLink": "http://latinousa.org/",
"meta": {
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},
"link": "/radio/program/latino-usa",
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"apple": "https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?s=143441&mt=2&id=79681317&at=11l79Y&ct=nprdirectory",
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"rss": "https://feeds.npr.org/510016/podcast.xml"
}
},
"marketplace": {
"id": "marketplace",
"title": "Marketplace",
"info": "Our flagship program, helmed by Kai Ryssdal, examines what the day in money delivered, through stories, conversations, newsworthy numbers and more. Updated Monday through Friday at about 3:30 p.m. PT.",
"airtime": "MON-FRI 4pm-4:30pm, MON-WED 6:30pm-7pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Marketplace-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.marketplace.org/",
"meta": {
"site": "news",
"source": "American Public Media"
},
"link": "/radio/program/marketplace",
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"rss": "https://feeds.publicradio.org/public_feeds/marketplace-pm/rss/rss"
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},
"masters-of-scale": {
"id": "masters-of-scale",
"title": "Masters of Scale",
"info": "Masters of Scale is an original podcast in which LinkedIn co-founder and Greylock Partner Reid Hoffman sets out to describe and prove theories that explain how great entrepreneurs take their companies from zero to a gazillion in ingenious fashion.",
"airtime": "Every other Wednesday June 12 through October 16 at 8pm (repeats Thursdays at 2am)",
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"meta": {
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"source": "WaitWhat"
},
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"rss": "https://rss.art19.com/masters-of-scale"
}
},
"mindshift": {
"id": "mindshift",
"title": "MindShift",
"tagline": "A podcast about the future of learning and how we raise our kids",
"info": "The MindShift podcast explores the innovations in education that are shaping how kids learn. Hosts Ki Sung and Katrina Schwartz introduce listeners to educators, researchers, parents and students who are developing effective ways to improve how kids learn. We cover topics like how fed-up administrators are developing surprising tactics to deal with classroom disruptions; how listening to podcasts are helping kids develop reading skills; the consequences of overparenting; and why interdisciplinary learning can engage students on all ends of the traditional achievement spectrum. This podcast is part of the MindShift education site, a division of KQED News. KQED is an NPR/PBS member station based in San Francisco. You can also visit the MindShift website for episodes and supplemental blog posts or tweet us \u003ca href=\"https://twitter.com/MindShiftKQED\">@MindShiftKQED\u003c/a> or visit us at \u003ca href=\"/mindshift\">MindShift.KQED.org\u003c/a>",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Mindshift-Podcast-Tile-703x703-1.jpg",
"imageAlt": "KQED MindShift: How We Will Learn",
"officialWebsiteLink": "/mindshift/",
"meta": {
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"source": "kqed",
"order": 12
},
"link": "/podcasts/mindshift",
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM1NzY0NjAwNDI5",
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}
},
"morning-edition": {
"id": "morning-edition",
"title": "Morning Edition",
"info": "\u003cem>Morning Edition\u003c/em> takes listeners around the country and the world with multi-faceted stories and commentaries every weekday. Hosts Steve Inskeep, David Greene and Rachel Martin bring you the latest breaking news and features to prepare you for the day.",
"airtime": "MON-FRI 3am-9am",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Morning-Edition-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.npr.org/programs/morning-edition/",
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"link": "/radio/program/morning-edition"
},
"onourwatch": {
"id": "onourwatch",
"title": "On Our Watch",
"tagline": "Deeply-reported investigative journalism",
"info": "For decades, the process for how police police themselves has been inconsistent – if not opaque. In some states, like California, these proceedings were completely hidden. After a new police transparency law unsealed scores of internal affairs files, our reporters set out to examine these cases and the shadow world of police discipline. On Our Watch brings listeners into the rooms where officers are questioned and witnesses are interrogated to find out who this system is really protecting. Is it the officers, or the public they've sworn to serve?",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/On-Our-Watch-Podcast-Tile-703x703-1.jpg",
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"officialWebsiteLink": "/podcasts/onourwatch",
"meta": {
"site": "news",
"source": "kqed",
"order": 11
},
"link": "/podcasts/onourwatch",
"subscribe": {
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5ucHIub3JnLzUxMDM2MC9wb2RjYXN0LnhtbD9zYz1nb29nbGVwb2RjYXN0cw",
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},
"on-the-media": {
"id": "on-the-media",
"title": "On The Media",
"info": "Our weekly podcast explores how the media 'sausage' is made, casts an incisive eye on fluctuations in the marketplace of ideas, and examines threats to the freedom of information and expression in America and abroad. For one hour a week, the show tries to lift the veil from the process of \"making media,\" especially news media, because it's through that lens that we see the world and the world sees us",
"airtime": "SUN 2pm-3pm, MON 12am-1am",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/04/onTheMedia.png",
"officialWebsiteLink": "https://www.wnycstudios.org/shows/otm",
"meta": {
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"source": "wnyc"
},
"link": "/radio/program/on-the-media",
"subscribe": {
"apple": "https://itunes.apple.com/us/podcast/on-the-media/id73330715?mt=2",
"tuneIn": "https://tunein.com/radio/On-the-Media-p69/",
"rss": "http://feeds.wnyc.org/onthemedia"
}
},
"pbs-newshour": {
"id": "pbs-newshour",
"title": "PBS NewsHour",
"info": "Analysis, background reports and updates from the PBS NewsHour putting today's news in context.",
"airtime": "MON-FRI 3pm-4pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/PBS-News-Hour-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.pbs.org/newshour/",
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"source": "pbs"
},
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