Morning Coffee Mar 19 2012

Apple's Plan to Give Away $45 Billion

By joseph walker

Apple just can't stay out of the headlines. The company announced this morning that it will begin paying investors a quarterly dividend of $2.65 per share and buy back $10 billion in outstanding stock. The move comes after many months of speculation about what the company would do with its $100 billion cash hoard. The stock buyback is intended to offset dilution of the company's shares as the company doles out options to new employees, the company said in a statement.

Over the weekend, Twitter and Facebook were abuzz with news that This American Life, the popular public radio program, had retracted a January story about labor abuses at Apple's Chinese manufacturing facilities. The story was based on a theatrical show called "The Agony and Ecstasy of Steve Jobs," based on the travels of monologist Mike Daisey. Turns out that many of the show's most poignant moments were fabricated or taken from second-hand news reports.

Syncing Up (FINS)

San Mateo, Calif.'s SugarSync Inc. will hire 45 new employees in 2012 after raising $15 million in venture capital financing earlier this month. The company offers a cloud-based storage service that consumers can use to access their data from any device.

Digital Hub (Crain's New York Business)

Four of tech's hottest start-ups, including Foursquare and 10gen, reside in one New York office building. Together, they'll hire at least 350 people this year.

New Beginning (AllThingsD)

Google Vice President Dave Girouard is leaving the company to try his hand in the start-up game with a company called Upstart. Girouard had been in charge of Google's apps division, which includes products like Gmail and Google Docs.

Job Growth (Tech Europe)

With 8,000 employees in the country, Intel is Israel's largest private sector employer. It's about to get even bigger with a plan to hire 600 this year.

Halfway There (San Jose Mercury News)

Hewlett-Packard Chief Executive Meg Whitman has rejuvenated morale, but she has a long way to go in turning H-P around. She still has to contend with the rise of mobility and cloud computing.

Special Formula (Bloomberg)

Facebook spends just 10% of its revenue on research and development, far less than other tech companies, one factor that enables it to make such high profit margins. Facebook focuses on Facebook, and lets other companies build apps for the service.

Speaking Out (Business Insider)

PayPal co-founder Elon Musk went on "60 Minutes" last night to talk about his private space flight company SpaceX. He's invested $100 million of his own money into the controversial company.

Leaked (Reuters)

An unidentified Goldman Sachs employee leaked secrets about Apple and Intel. The person has not been charged in the federal government's continued probe and prosecution of insider trading on Wall Street.

Raising Cash (WSJ)

Kleiner Perkins is raising a new early stage venture capital fund of about $650 million to invest in tech companies. It's good news for entrepreneurs looking to get their big idea funded.

Buzz Around the Office

Stewart Tarantino Interview (YouTube)

Jon Stewart interviews Quentin Tarantino about his new feature, Pulp Fiction. Oh yeah, and it's 1994.

List of the Day: Job-hunting Over 50

The rules can be different when you're searching for a job over a certain age bracket.

1. List only the last 15 to 20 years of experience on your resume.

2. Show your tech know-how.

3. Network beyond your peer group.

(Source: LinkedIn)



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