We’re mostly worried about companies for whom Wall Street represents a significant part of their customer base. Blackberry-maker RIM (RIMM) should be OK, but Bloomberg’s high-end terminals may find fewer subscribers. New York-based tech startups like food-delivery service SeamlessWeb may not fare as well. Dell (DELL) is in trouble, and even Apple’s (AAPL) Mac sales are slow. But it’s not all gloom — Adobe (ADBE) is having a good summer. Meanwhile HP (HPQ) is acquiring EDS, shedding 24,600 employees in the process.
Monopoly fears about the Google (GOOG) – Yahoo (YHOO) deal continue to spread. Now the European Union will be launching its own investigation. On a Google blog, company exec Tim Armstrong (SAI 100: #6) tried to make the case Google lacks the power to essentially set ad prices.
Looking for optimism? Talk Rupert Murdoch: “Hard times are good for big companies.”
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