Twittering executives

Posted on by

Lucy Kellaway has been looking at what business executives do with Twitter. She is predictably funny about it:

Despite the dismal use to which executives are putting Twitter, more and more are signing up for fear of being left behind. Last week I met a British business leader who told me that he had just joined, but complained that he was now so focused on turning the details of his day into pithy tweets that he was finding it hard to pay attention to what he was doing. Worse, once he had composed his Tweet he felt insecure and unpopular as only three people seemed to be following him….

Labour’s affair with bankers

Posted on by


Gordon Brown sucking up to Richard S. Fuld, CEO of Lehman Bros, just after opening Lehman’s new London HQ. Photograph from tonight’s ‘Dispatches’ on Channel 4.

Terrific FT.com column by John Kay.

What would have happened if the Financial Services Authority or Bank of England had sought to block the competing bids from RBS and Barclays for ABN Amro – a contest which, we now know, would bankrupt the bank that won the race? The phones in Downing Street would have been ringing insistently and it is easy to imagine the government’s response.

Little has changed. The government continues to see financial services through the eyes of the financial services industry, for which the priority is to restore business as usual. For a time in 2008, it seemed possible to argue that a package of temporary support for the banking industry, combined with substantial recapitalisation of the weaker players, might stabilise the financial sector and prevent serious knock-on effects.

But the problems of banks are much deeper than were then acknowledged and the destabilisation of the real economy has happened anyway. Government now provides taxpayers’ money to financial services businesses in previously unimaginable quantities. But there is no control over the use of the money, no insistence on structural reform or management reorganisation, no safeguarding of the essential economic functions of the financial services industry and no accountability for the damage that has been done.

It is as though the teenage children and their friends were to wreck the house and then demand that the grown-ups clean up before the next party. Their parents are too intimidated to do anything more than ask Uncle Adair to keep an eye on them and excoriate the hapless Fred who made off with some of the silver.

M$ falters

Posted on by

Well, well. This has been a long time coming.

On Thursday, Microsoft set the wrong kind of record, as it reported the first year-over-year quarterly revenue decline since it first sold stock to the public in 1986. In its third quarter, which ended March 31, Microsoft said its revenue fell 6 percent, to $13.65 billion, from $14.45 billion. It reported net income of $2.98 billion, or 33 cents a share — a 32 percent drop from the $4.39 billion, or 47 cents a share, reported in the period last year….

Of course it’s not really a reflection on anything M$ is doing. It’s just that it’s so tied to the business PC market that it’s bound to be badly affected by the downturn. Nobody’s upgrading at the moment. And I guess lots of companies (and customers) are waiting for Windows 7.

It’s an ill wind…

Posted on by

Browsing in Borders this morning, I found lots of examples of ingenious capitalism at work, exploiting new market niches. For example:

Recession Bookshelf

On closer inspection, there’s a

Recession Game

And then there’s

Recession Cuisine

Health warning: Ballsheimer’s disease reaching epidemic proportions

Posted on by

Jon Stewart has uncovered evidence of a new disease that is sweeping through the ranks of senior members of the Bush administration. It’s called Ballsheimer’s Disease. The symptoms are acute memory loss concerning unpalatable facts, and superhuman levels of effrontery. A prominent victim is former Vice-President Dick Cheney who last week was observed campaigning for freedom of information and the publication of classified documents. There is currently no known cure for the condition, though neuroscientists claim that some patients have been helped by lobotomy.

Former President George W. Bush is reported to be setting up a FaceBook group to campaign for better treatment for Ballsheimer’s sufferers. Interviewed at his ranch in Crawford, Texas, Mr Bush said that he would be setting up the group just as soon as he had located his Profile.

The iPhone and telephone-number profits

Posted on by

This morning’s Observer column.

The significance of the iPhone – as regular readers know – lies in its operating system. It's really a powerful Unix computer that fits into the palm of your hand. That means it can run very sophisticated software – such as a browser that actually makes it feasible to read web pages and even books on a small screen. Add to this the fact that it is also permanently connected to the internet and you have what the rest of the industry is starting to recognise as a game changer.

Actually, the PC business is also beginning to wake up to the threat of the iPhone. How come? Well it turns out that iPhone users make less use of their laptops and desktop computers. The reason is obvious when you think about it: much of what we do on the net is pretty routine – checking email, accessing websites, Googling, accessing Facebook or Twitter. If you can do all that without booting up a computer, why bother?

The iPhone is also transforming the market for software…