Newswatch 1.22.08: MPAA report on piracy was all wrong
YHOO cuts hundreds of jobs
[Bloomberg] "Yahoo plans to invest in some areas, reduce emphasis in others, and eliminate some areas of the business that don't support the company's priorities," according to a statement from the Sunnyvale, Calif., company.
MPAA admits piracy numbers grossly distorted
[Ars] After commissioning a 2005 study from LEK Consulting that showed collegiate file-swappers were responsible for 44 percent of movie studio "losses" to piracy, the MPAA then used the report it bought to bludgeon Congress into considering legislation to address this massive problem. Now the MPAA admits that the report's conclusions weren't even close to being right; collegiate piracy accounts for only 15 percent of "losses." Oops. And that's assuming you believe the rest of the data.
AAPL stock falls on good news
Now, that's a tough market! [NYT] Apple earned $1.58 billion, or $1.76 for each diluted share, in the first quarter of fiscal 2008, compared with $1 billion, or $1.14 a share, in the period a year earlier. Revenue was $9.6 billion, up from $7.1 billion. But while Apple executives paraded those as record-setting figures, investors focused on projections for the next quarter, which were lower than what analysts had expected.
Whitman retires from eBay
[NYT] The company intends to replace Ms. Whitman as chief executive of the Internet auction giant with John Donahoe, 47, president of eBay’s marketplaces division, which includes its large but stagnating online auction business. The announcement could come as early as this week.
1,000 genomes to bloom
[Wired] The 1000 Genomes Project, announced today and led by scientists from around the world, builds on the groundbreaking HapMap project. Launched in 2002, HapMap spotlighted regions of the genome that vary from person to person.
Drive-by pharming is in the wild