Monday, February 07, 2011

AOL buys Huffington Post for $315 million

AOL buys Huffington Post for $315 million
one small voice

Huffington Post founder Arianna Huffington announced late Sunday that the site agreed to a $315 million buyout offer from AOL. This deal guarantees AOL will be closely watched not only by media observers but also by Silicon Valley companies.

The very liberal-leaning Huffington Post online news site has been one of the few internet content start-up success stories with over 1000 contributors and sizable ad revenue. AOL is the elder statesman of online access and digital content. It is also the owner of the "Patch " local blog network which our own local Ridgewood Patch is part of.

It was less than a week ago that a document called “The AOL Way”  was leaked showing how serious AOL is about its latest incarnation of the strategy to shift from a "technology" company to media company. Many industry insiders were caught unaware that people were still refereed to AOL as a "technology" company .

Its seems like only yesterday when we heard all this the first time with the much ballyhooed AOL/Time Warner merger. The merger marked the begging of the end of AOL network dominance and some would also suggest the the beginning of the end of the of the dot com boom turning into the first dot bomb.

Friday, February 04, 2011

Santelli Slams CNBC Panelists for Spinning Jobs Report

Santelli Slams CNBC Panelists for Spinning Jobs Report

CNBC's floor reporter criticizes 'kool-aid drinkers' for trying to find good news in the 'disappointing.'
  • By Julia A. Seymour
  • Friday, February 04, 2011 10:16 AM EST

Jobs are heading up and down at the same time. The Bureau of Labor Statistics announced the morning of Feb. 4 that only 36,000 jobs were added in the month of January, but the unemployment rate dropped from 9.4 percent to 9.0 percent.

The mainstream news media will likely latch on to the dropping unemployment rate, despite job gains that were less than one-fourth of the consensus estimate of 148,000 jobs added. One of the CNBC panelists noted that the increase was "way below consensus."

CNBC's Rick Santelli even lashed out at some of the CNBC "Squawk Box" panel that were discussing the latest jobs report.