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Dot-com incubator CMGI said it has negotiated to end a 15-year, $114 million deal that called for its corporate name and logo to adorn the stadium where the Super Bowl champion New England Patriots play football The move comes just a week before the Patriots play their first-ever game in the new facility, which is located about 25 miles south of Bo...
Everyone knows that stock investments are long-term propositions, that if you buy and hold, you are more likely than not to see better returns from Wall Street than from your neighborhood bank But amid all of that long-range outlook talk, companies are forced to come forward every three months to report on how things are going. And those reports ca...
Dot-com layoffs awakened from a midsummer slumber, more than doubling in July to 1,750 lost jobs, according to a Challenger, Gray and Christmas report That makes July the third-worst month so far this year for Internet-related layoffs, behind May, which had 2,078 cuts, and January, when 1,802 were fired. Layoffs dipped to as low as 670 in March.
Onetime e-commerce software powerhouse PurchasePro has found itself caught up in dual probes into the accounting practices at AOL, as deals made at the height of the dot-com boom are examined by the Securities and Exchange Commission (SEC). PurchasePro, which, like many other e-commerce software firms, has fallen on hard times, confirmed that docu...
EBay is reportedly close to a deal to sell its Butterfields division, probably for considerably less than the US$260 million price tag that the auction house carried in early 1999, when eBay set out to leverage its real-world assets EBay will apparently sell Butterfields, founded in 1865 as Butterfield and Butterfield, to Bonhams, a London-based au...
A year ago this month, Webvan called it quits. If it seems like the shutdown happened earlier than that, it might be because the company was on the way out for months before its final exit. Or it might be that, in the big picture, Webvan just didn't matter that much There are constant reminders of its presence, of course. The ironically labeled int...
The war of words over travel site Orbitz has reached the White House. Several Orbitz competitors, including Travelocity parent Sabre Holdings and Expedia.com, sent representatives to a White House meeting Tuesday, at which they made their case for stepping up reviews -- already under way by the U.S. Department of Transportation and the Department ...
Venture funding dropped 11 percent last quarter to US$5.7 billion, a level not seen since late 1998, as venture capitalists continued to nurse their wounds and stayed on the sidelines in large numbers, according to a new survey A total of 819 companies received funding, slightly down from the 826 funded in the first quarter, according to the survey...
Maybe it's only a coincidence, but not long after televisions flashed images of Adelphia Communications executives being taken away in handcuffs, the stock market began its most impressive single-day rally in recent memory If it's not coincidental, though, the fact that fraud charges against a minor cable company could have such an impact should gi...
Heavy promotions and midsummer sales are driving Web surfers to the sites of brick-and-mortar retail chains during a traditionally slow shopping season, according to a new report from Nielsen//NetRatings. For example, the research firm said, traffic to OfficeDepot.com more than doubled during the week ended July 21st compared with a week earlier.
Japanese Internet venture investor Softbank has sold its remaining stake in E*Trade, taking a loss as part of an effort to realign its holdings and reduce its exposure to the dot-com world. Softbank said it sold a total of 12 million shares of E*Trade stock for US$3.60 each, raising $43 million in the process as it seeks to shore up its own financ...
The U.S. Federal Trade Commission (FTC) said it has settled a case against a California Web site that claimed to offer an alternative cancer treatment. The commission also noted it has issued warnings to nearly 300 additional sites making "questionable" health claims. The FTC said it levied a US$4.3 million fine against BioPulse International, whi...
Somebody had to do it. One of the surviving e-commerce giants had to take the stand and be the first to start accounting for stock options as expenses, which is exactly what they are That somebody, it turns out, is Amazon. The company isn't quite breaking new ground: A half-dozen more traditional companies have already made the same move, notably C...
The Federal Trade Commission (FTC) must be lacking work these days. Maybe the slowed economy and depressed market have given the FTC too few mergers to squash. How else do you explain the decision to convene a three-day powwow to engage the never-ending debate over whether states or private companies are hindering e-commerce growth? ...
Even as the major U.S. stock markets dipped to new lows, Ameritrade -- the second largest online broker -- said it squeezed out a quarterly profit of US$5.7 million. The company noted that order volume has plummeted as consumers have turned away from stock trading in large numbers, reducing revenue to $100 million from $112 million a year ago Ameri...
Expanding its service offerings as it awaits eBay's buyout, PayPal said it will begin offering users direct access to U.S. postage through an alliance with Stamps.com. The two companies said the new service, which will let users buy and print U.S. Postal Service stamps through their PayPal accounts, will be in place in time for the holiday season....
Further strengthening its position atop the search engine hierarchy, Google has inked aUS$100 million, three-year deal to provide listings to search engine Ask Jeeves, whereit will displace rival Overture Starting in September, Google will replace Overture as the provider of premium paidsearch results on Ask Jeeves. The deal is expected to generate...
The U.S. Federal Trade Commission (FTC) plans to examine whether individual states are acting in an anticompetitive way toward e-commerce. According to the FTC, the states' actions might be costing consumers as much as US$15 billion per year. The commission said it will hold a three-day workshop in October to solicit input from representatives of ...
Admitting you're wrong is one of the hardest things to do in life. So it's no wonder that despite a mountain of evidence that the AOL Time Warner merger seems doomed to failure, the marriage continues. Still, for some time -- and more so lately -- cries have been going up, mainly from disgruntled shareholders, for Time Warner to toss AOL onto the ...
Amazon.com has launched the first phase of a Web services offering, giving Web developers free access to Amazon content and features and saying there is more to come. The company said it hopes developers using its tools will enable visitors browsing other sites to buy Amazon products and start Amazon purchases. Developers also can use Amazon conte...
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