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December 2, 2008 8:52:39 AM CST


restructuring

restructuring news stories

7 Stories

 Bailout Wait 'Nerve-Wracking' 

Hearings 'more hostile than expected,' says Wagoner

(Newser) - Two grueling days of congressional hearings on a bailout for the auto industry were "hostile" and the wait for an answer is "nerve-wracking," General Motors CEO Rick Wagoner told the Detroit News yesterday. GM is ready now to show Congress detailed restructuring plans to convince lawmakers to hand over billions in aid. Legislators are requiring plans from each of the Big Three automakers before they'll agree to a rescue package. More »

More about:  Congress bailout economy auto industry General Motors Detroit bankruptcy Rick Wagoner restructuring

ANALYSIS

Service Cuts Make AOL
Even More Useless

Blogging, page-hosting features latest to go as parent Time Warner looks for answers

(Newser) - AOL is cutting two more of its website’s offerings, a blog creator and a data hosting service, Peter Kafka notes on Silicon Alley Insider. Users of AOL Journals, which hosts blogs, will be migrated to an equivalent host. Users of AOL Hometown, which mainly store photos—and, Kafka sniffs, is “as anachronistic as a dial-up ISP”—received a stiffer message: Save it elsewhere. More »

More about:  Internet AOL blogging web services restructuring data storage

 Yahoo Regroups, Again 

Struggling company attempts to recover after Microsoft bid

(Newser) - Reeling after Microsoft’s failed takeover bid and bracing for a fight with financier Carl Icahn over board control, struggling Yahoo is once again restructuring itself, the New York Times reports. “Any organization change is disruptive,” said Yahoo’s president, but “the flip side of disruption is the opportunity for renewed growth.” But analysts say it’s all talk. “It changes nothing,” says one. More »

More about:  Internet Microsoft Yahoo restructuring Susan Decker

Yahoo to Reorganize in
Wake of Microsoft Bid

Company execs quit amid changes

(Newser) - Regrouping in the aftermath of Microsoft’s takeover bid, Yahoo plans to consolidate its myriad branches, the Wall Street Journal reports. President Susan Decker aims to centralize the mail, search, and home-page teams to help boost earnings and justify its rejection of Microsoft’s $47.5 billion offer; some executives already have left amid the changes. More »

More about:  Yahoo Flickr restructuring Susan Decker quitting

IAC, Liberty Make Peace Over Spin-Offs

Media bosses Malone and Diller finally
bury the hatchet

(Newser) - The months-long feud between media barons John Malone and Barry Diller over IAC spin-offs has ended amicably, the Wall Street Journal reports. Malone's Liberty Media, the majority shareholder in IAC, will drop its opposition to Diller's plans to divide IAC/Interactive Corp into five separate entities. Liberty will have the right to nominate up to 20% of the directors in the new companies. More »

More about:  Barry Diller John Malone Liberty Media Ticketmaster restructuring IAC/InterActiveCorp media conglomerates

Profits Slide
as Dell
Streamlines

6.5% drop on consumer slump, 'slow as molasses' turnaround

(Newser) - Dell posted a 6.5% decline in profits for its fiscal fourth quarter yesterday, citing slowed consumer spending and the cost of restructuring, which included slashing thousands of jobs, the Wall Street Journal reports. The Dell results are likely to cause concern about other tech stocks—especially those that rely on the US consumer market—and doubts about Dell's ambitious turnaround plan. More »

More about:  computer job cuts Dell quarterly results tech stocks Michael Dell tech sector restructuring

Biotech Giant Slashes Jobs

World biggest biotech cuts 2,600 jobs in $2B restructuring

(Newser) - Biotech giant Amgen is slashing spending by $1.9 billion by cutting up to 14 percent of its workforce— 2,600 jobs—and closing some production facilities. The restructuring was triggered by plummeting sales of the company's anemia drug Aranesp. The shake up demonstrates that biotech operations are not immune to the problems that plague traditional drug companies, the Wall Street Journal reports. More »

More about:  biotechnology Genentech restructuring Roche Holding Cera Amgen

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