Tag Archives: Citibank

DFE News Roundup for Friday, January 16th

It’s another interesting day for news here at DFE, so I thought I’d take a moment to point out some articles to watch for the day:

  • Xerox will be laying off 275 workers here in Rochester, both at the Webster Complex (didn’t that used to be called the Wilson Complex?) and in the downtown offices. Anyone with information on the layoffs can contact me here with details. I’d appreciate it.
  • Citi bank posted a big loss and now plans on splitting the company in two: Citigroup, which will be its traditional banking and Citi Holdings, which will handle it’s “riskier assets.” They’re hoping to minimize losses by dividing their assets up.
  • Intel is reporting big losses in this quarter, a sign of just how hard the recession might hit consumer electronics markets this year.
  • It’s a Microsoft Worm World again!! It’s been a few years since MyDoom and Klez virus hysteria, but the boys are back in town with a virus that attacks low-security networks and USB flash drives. It’s infected 3.5 million computers world wide. People, patch those systems up now!
  • More tech news: “illegal” private downloads from peer to peer systems such as BitComet and others completely swamp the industry approved, industry profit downloads available from iTunes. Not sure how they quantify that, but here’s a question to ask: how many legal copies of albums got sold compared to cassette tape recordings? If cassettes didn’t bring down the music industry, why should we give a shit about downloads?
  • President Elect Obama did a very long and wide-ranging interview with the Washington Post wherein he pledged that entitlement programs like Medicare and Social Security would be getting reformed during his term. Not a small order, that. But I’d rather trust him than Republicans. Wonder if they’ll float the investment angle again?