After Microsoft’s last effort failing to make any go ahead with the US court, some versions of the company’s flagship programs are facing the court’s ban. Microsoft Word and Office are facing this ban after Canadian software firm, i4i, filled a case against Microsoft over alleged infringement of patents. While Microsoft has already challenged the original ruling, it was made to change some elements of its programs by a US court. The company in a statement said, “This process will be imperceptible to the vast majority of customers.”
The court has already denied the company an appeal on injunction in December last year. After that Microsoft had agreed to make the necessary changes in Word and Office before the January 11 deadline. It would then be selling the revised version in the US.
The Toronto based company, i4i, has already won a case wherein Microsoft was supposed to pay a fine of $200 million to the company for using the customized XML codes. However, because of the international nature of the patent the figure has already reached $290 million as part of the fine.
Microsoft, which still has the right to appeal in the Supreme Court, wants a panel of 11 judges from the United States Court of Appeals for the Federal Circuit to review the whole matter. The company is hoping that this would bring the judgment in favor.
A panel of three judges have already seen the case and given their judgment.
Answering to the questions as to why the company wants to re-appeal, Kevin Kutz, Director, Public Affairs at Microsoft, said that it has been done since the company believed that the December appeal conflicted with established precedents governing trial procedure and the determination of damages. “We are concerned that the decision weakens judges' authority to apply appropriate safeguards in future patent trials,” he added.
Monday, January 11, 2010
Loss for Associated Banc, dividend loss for shareholders
Wisconsin-based regional bank, Associated Banc Corp. on Monday reported that it is facing a net loss of $161.2 million to the common shareholders for the year ending December 31, 2009. This would mean that the shareholders have to bear a loss of $1.26 per share.
For the fourth quarter ending December, the company has posted a loss of $180.6 million. This means a loss of $1.41 per common share to the shareholders. Also it has declared a dividend cut and six-fold rise in its allowances as part of the loan reduction. The loss has been due to the large portion of bad debts in its balance sheet.
Commenting on the loss posted by the diversified regional bank, its President and CEO, Philip B. Flynn said, “Given the persistent challenging operating conditions in the banking industry, my priority during my first several weeks as CEO was to ensure that reserves and capital are at levels we believe are appropriate to manage through the downturn and to position Associated to take advantage of opportunities as they arise.”
As for the plans he said, “We are working diligently to respond to these conditions by aggressively identifying and addressing current challenges and the impact on our loan portfolio. The dividend reduction and the significant addition to the allowance that we have announced are important parts of addressing these priorities.”
He further added, “We believe that getting out in front of our credit issues will put us on a path to accomplish this. I am confident that our strong market positions, business mix and management team will drive strong results as we emerge from the credit cycle.”
Associated has already seen Fitch downgrading its ratings because of the growing stress on its commercial real-estate portfolio and low loan-loss reserves. It, however, said that the foundations of the bank are strong in its deposits base and liquidity.
For the fourth quarter ending December, the company has posted a loss of $180.6 million. This means a loss of $1.41 per common share to the shareholders. Also it has declared a dividend cut and six-fold rise in its allowances as part of the loan reduction. The loss has been due to the large portion of bad debts in its balance sheet.
Commenting on the loss posted by the diversified regional bank, its President and CEO, Philip B. Flynn said, “Given the persistent challenging operating conditions in the banking industry, my priority during my first several weeks as CEO was to ensure that reserves and capital are at levels we believe are appropriate to manage through the downturn and to position Associated to take advantage of opportunities as they arise.”
As for the plans he said, “We are working diligently to respond to these conditions by aggressively identifying and addressing current challenges and the impact on our loan portfolio. The dividend reduction and the significant addition to the allowance that we have announced are important parts of addressing these priorities.”
He further added, “We believe that getting out in front of our credit issues will put us on a path to accomplish this. I am confident that our strong market positions, business mix and management team will drive strong results as we emerge from the credit cycle.”
Associated has already seen Fitch downgrading its ratings because of the growing stress on its commercial real-estate portfolio and low loan-loss reserves. It, however, said that the foundations of the bank are strong in its deposits base and liquidity.
Ford ‘Focus’es on fuel efficiency, cars win awards
Ford Motor Co. has unveiled its compact car, Focus, today at the North American International Auto Show in Detroit. The all-new car would be having small bump on the taillights. Besides this the redesigned vehicle will be having added features, which would make it more fuel efficient.
As per the claims of the company, the new car would be going 40 miles on one gallon of gas. The unique thing about the vehicle is that these features are typically found in sports-utility vehicles. The new Focus has 2 liter, 4 cylinder gasoline engine with an estimated 155 horsepower and 145 pound-feet of torque. To make the car more eco-friendly, Ford is to add-cylinder version of its turbocharged EcoBoost engine with it. The company claims that the new version would have 20 horsepower more than the current engine and would be 10 per cent more fuel efficient.
These new additions are part of a larger plan launched by Allen Mulally in 2006. The company is planning to build the new car on Ford’s platforms around the world by 2012. With the new technology, Mulally want to be in the league of big players like Toyota, and Porsche. This, he had said during the Consumer Elecrtronics Show, is the “price of admission” in the big league. Offering new technologies are “strategically important because green technology and smart innovations are helping us serve our customers and differentiate Ford.”
However, many experts believe this would make the consumers pay more for the Ford cars than they have been doing now. With the new technology, Mulally has tried to infuse the qualities of big cars like the sedans with the efficiency of the compact car. This would require the cost of the cars to rise. The company has not announced any price range for its vehicles as of now.
Meanwhile, Ford’s Fusion Hybrid mid size sedan has won the 2010 North American Car of the Year. Also its Transit Connect has been declared the truck of the year at the Detroit Auto Show.
As per the claims of the company, the new car would be going 40 miles on one gallon of gas. The unique thing about the vehicle is that these features are typically found in sports-utility vehicles. The new Focus has 2 liter, 4 cylinder gasoline engine with an estimated 155 horsepower and 145 pound-feet of torque. To make the car more eco-friendly, Ford is to add-cylinder version of its turbocharged EcoBoost engine with it. The company claims that the new version would have 20 horsepower more than the current engine and would be 10 per cent more fuel efficient.
These new additions are part of a larger plan launched by Allen Mulally in 2006. The company is planning to build the new car on Ford’s platforms around the world by 2012. With the new technology, Mulally want to be in the league of big players like Toyota, and Porsche. This, he had said during the Consumer Elecrtronics Show, is the “price of admission” in the big league. Offering new technologies are “strategically important because green technology and smart innovations are helping us serve our customers and differentiate Ford.”
However, many experts believe this would make the consumers pay more for the Ford cars than they have been doing now. With the new technology, Mulally has tried to infuse the qualities of big cars like the sedans with the efficiency of the compact car. This would require the cost of the cars to rise. The company has not announced any price range for its vehicles as of now.
Meanwhile, Ford’s Fusion Hybrid mid size sedan has won the 2010 North American Car of the Year. Also its Transit Connect has been declared the truck of the year at the Detroit Auto Show.
China pips US as the world’s largest auto market, the year Detroit was ‘bombed’
China surpassed the United States as the world’s largest auto market, after its 2009 vehicle sales jumped 46 per cent, ending more than a century of American dominance. As China celebrates the milestones and before we actually delve deep in statistics, here’s a curtain raiser to the Detroit Auto Show. Bankruptcies, mounting jobs losses, increasing endangered fleet of brands and a new wave of executives taking control, all set in the background of a global recession losing steam, will mark the opening of the show this morning at the Cobo Center, Detroit, Michigan.
Largely attributed to Beijing’s policy to spur the use of clean and fuel-efficient cars; the sales of passenger cars, buses and trucks in China rose to 13.6 million - the fastest pace in at least 10 years, according to the China Association of Automobile Manufacturers. In the US, sales slumped 21 per cent to 10.4 million, the fewest since 1982, according to Autodata Corp.
As far as China is concerned, it has made great strides in 2009 – the year in which the Dragon Economy celebrated six decades of Communist Party rule. The past year also saw Chinese automakers venturing on to the global stage for the first time in a major way, ready to snap up big-name brands, such as Volvo and Hummer. Geely Holding Group is now the owner of Ford’s Volvo car unit, following Beijing Automotive Industry Holding Co’s purchase of some Saab platforms in December.
US and European auto makers have found green pastures in China in the recent years as it has helped automakers including General Motors Co. and Volkswagen AG compensate for slumping demand in the US and Europe. GM, the biggest overseas automaker in China, said on January 4 that its Chinese sales rose 67 per cent last year to a record 1.83 million vehicles. Ford Motor Co., the lone auto survivor that didn’t ask for government support, is spending $490 million on a third plant in China, while Volkswagen plans to invest 4 billion euros ($5.7 billion) in the country by 2011.
The Chinese government announced in January last year that it would halve the purchase tax to 5 percent on vehicles with a displacement of less than 1.6 liters. Rural consumers got up to 5,000 yuan (735 US dollars) in government subsidies for vehicles with a displacement under 1.3 liters.
Largely attributed to Beijing’s policy to spur the use of clean and fuel-efficient cars; the sales of passenger cars, buses and trucks in China rose to 13.6 million - the fastest pace in at least 10 years, according to the China Association of Automobile Manufacturers. In the US, sales slumped 21 per cent to 10.4 million, the fewest since 1982, according to Autodata Corp.
As far as China is concerned, it has made great strides in 2009 – the year in which the Dragon Economy celebrated six decades of Communist Party rule. The past year also saw Chinese automakers venturing on to the global stage for the first time in a major way, ready to snap up big-name brands, such as Volvo and Hummer. Geely Holding Group is now the owner of Ford’s Volvo car unit, following Beijing Automotive Industry Holding Co’s purchase of some Saab platforms in December.
US and European auto makers have found green pastures in China in the recent years as it has helped automakers including General Motors Co. and Volkswagen AG compensate for slumping demand in the US and Europe. GM, the biggest overseas automaker in China, said on January 4 that its Chinese sales rose 67 per cent last year to a record 1.83 million vehicles. Ford Motor Co., the lone auto survivor that didn’t ask for government support, is spending $490 million on a third plant in China, while Volkswagen plans to invest 4 billion euros ($5.7 billion) in the country by 2011.
The Chinese government announced in January last year that it would halve the purchase tax to 5 percent on vehicles with a displacement of less than 1.6 liters. Rural consumers got up to 5,000 yuan (735 US dollars) in government subsidies for vehicles with a displacement under 1.3 liters.
Voltec to power Cadillac Converj, says GM
It’s the turn of Cadillac Converj to run on General Motors’ Voltec, - the future powertrain technology, that combines a lithium-ion battery and a traditional engine as a backup, GM Vice Chairman Bob Lutz said. The two-door Converj will use the same technology as GM’s Chevrolet Volt plug-in electric vehicle, due to be launched in November this year. Without committing a date for production, Lutz said the model is now ‘cleared for production’ and will hit the road sometime in 2013. The cars will be able to drive about 40 miles on an electric charge before switching to a gasoline generator for power, Lutz who was speaking at an event organized by the Society of Automotive Analysts in Detroit.
Since the shake-up in the top leadership last year this is the first indication of what GM believes is the initial phase of small and hybrid cars. Making SUVs and pickup trucks comply with US fuel-economy regulations will make them more expensive, which means fewer people will buy them, said Lutz. Lutz also made it clear that GM will continue to be driven predominantly by piston engines, as he believes that despite the growth in electrification, electric vehicles won’t take over any time soon.
The automaker which resurfaced ‘lean’ after a quick Chapter 11 (reorganization) bankruptcy filing in June 2009, plans to focus its business on its four core US brands — Chevrolet, Cadillac, Buick, and GMC and has kept the Volt on or ahead of schedule. Infact, the Volt has now been at the pivot of GM’s effort to reinvent its public image and show that it can compete with rivals led by Toyota on the next generation of hybrid technology. In 2009, the Presidential Task Force on the Auto Industry said that “GM is at least one generation behind Toyota on advanced, ‘green’ powertrain development.”
Having said that, the profitability of first-generation vehicle remains an issue for the cash starved auto-behemoth. GM executives have admitted that they expect to lose money on the Volt because of its high development costs and the cost of its battery, estimated near $15,000 each. For this reason, GM is said to be working on a range of vehicles in an effort to offset its costs over time that will be based on the ‘Voltec’ plug-in hybrid system. According to Lutz tax credits and other incentives from employers would make the cost closer to $30,000 for many consumers.
However, General Motors Co. expects the company to be ‘solidly profitable’ and expects a turnaround in the operations, when demand for new cars and trucks rebounds to normal levels. Bob Lutz added that the US automaker had made strides only months after it restructured through more than $50 billion in federal aid and a government-led bankruptcy.
Since the shake-up in the top leadership last year this is the first indication of what GM believes is the initial phase of small and hybrid cars. Making SUVs and pickup trucks comply with US fuel-economy regulations will make them more expensive, which means fewer people will buy them, said Lutz. Lutz also made it clear that GM will continue to be driven predominantly by piston engines, as he believes that despite the growth in electrification, electric vehicles won’t take over any time soon.
The automaker which resurfaced ‘lean’ after a quick Chapter 11 (reorganization) bankruptcy filing in June 2009, plans to focus its business on its four core US brands — Chevrolet, Cadillac, Buick, and GMC and has kept the Volt on or ahead of schedule. Infact, the Volt has now been at the pivot of GM’s effort to reinvent its public image and show that it can compete with rivals led by Toyota on the next generation of hybrid technology. In 2009, the Presidential Task Force on the Auto Industry said that “GM is at least one generation behind Toyota on advanced, ‘green’ powertrain development.”
Having said that, the profitability of first-generation vehicle remains an issue for the cash starved auto-behemoth. GM executives have admitted that they expect to lose money on the Volt because of its high development costs and the cost of its battery, estimated near $15,000 each. For this reason, GM is said to be working on a range of vehicles in an effort to offset its costs over time that will be based on the ‘Voltec’ plug-in hybrid system. According to Lutz tax credits and other incentives from employers would make the cost closer to $30,000 for many consumers.
However, General Motors Co. expects the company to be ‘solidly profitable’ and expects a turnaround in the operations, when demand for new cars and trucks rebounds to normal levels. Bob Lutz added that the US automaker had made strides only months after it restructured through more than $50 billion in federal aid and a government-led bankruptcy.
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