Boomi Sold to Dell
Today Dell Inc. announced that they will be buying Boomi Inc, a computer maker which Dell hopes will help them build more presence in the corporate technology market.
Dell has not disclosed any numbers on their recent purchase. In the past Dell lost a bidding war against HP Co. on the purchase of 3Par.
Boomi included several clients such as NetSuite and Salesforce.com and provided cloud computing software for enterprises.
Wilmington Trust and M&T Banks Merge
M&T Bank Corporation will be merging with Wilmington Trust and thus becoming a major lender in the eastern part of the US.
The deal is worth $351 million and will come to a close around mid next year.
Wilmington Trust Chairman and CEO Donald Foley said:
"As our third quarter earnings announcement shows, we continue to face difficult financial realities associated with the credit quality of the loan portfolio in our banking business. As a result, our board examined a range of strategic alternatives and has held discussions with several potential partners."
Robert G. Wilmers, CEO of M&T, said:
"We are building an even more powerful franchise with strength and stability, scale and density and top-of-class products and services."
Nissan Recalls 2.1 Million Cars
After the recent Toyota recall, Nissan is also issuing a major recall of over 2.1 million cars through out the world due to ignition problems.
The Nissan recall includes the following models:
- Nissan Armadas and Titans from 2004 to 2006
- Infiniti QX56s from 2005 and 2006
- Nissan Frontiers, Pathfinders and Xterras from August 2003 and June 2006.
According to the company, the recall will allow them to, "replace the electrical relays in the engine control modules — the computers that control engine performance and other essential components of motor vehicles. The Japanese automaker said the problem may cause the engine to stall. In extreme cases, a stalled engine cannot be restarted." (Business Pundit)
Toyota Recall October 2010 Details
Toyota is recalling over 1.53 million of their cars due to a brake-related problem that may cause a fluid leak.
Toyota Recall - Recalled Models
The models that are in this recent October 2010 recall are the following models from years 2002-2006:
Avalon
Highlander
Lexus GS300
Lexus IS250
Lexus IS35
Toyota said that they will be repairing around 600,000 units in Japan and 740,000 units in the U.S.
Toyota recently recalled cars due to an acceleration defect. Toyota was once one of the most trusted car manufacturers, but with so many recalls will this soon change how consumers view Toyota?
Pfizer Buys King Pharmaceuticals for $3.6 Billion
Pfizer is paying $3.6 billion to buy King Pharmaceuticals, a Tennessee-based painkiller producer.
King Pharmaceuticals is already involved in several types of medicine including veterinary medicine and emergency medical products as well.
For Pfizer this new acquisition gives them the change to expand their lines to other territories in medicine.
This is Pfizer major deal after their purchase of Wyeth last year. The deal comes out to $14.25 per share of King Pharmaceuticals.
Jeffrey Kindler (Pfizer Chief Executive)
Jeffrey Kindler, Pfizer’s chief executive, said about the recent purchase:
"We are highly impressed by King’s innovative products and technology in the pain relief disease area, as well as by its success in advancing promising compounds in its pipeline."
New Gap Logo Failed
Gap's new logo - an attempt to look "modern, sexy, cool" - only spawned the creation of several online mocking accounts and campaigns that nicknamed it Crap logo.
Unfortunately along with the bad brand came bad stocks as they reported $247 million dollars in stock loss.
Gap responded to the angry crowds by saying that they are just throwing out ideas.
I remember Gap, I probably owned a few clothing items when I was around 10 years old but barely buy stuff from there today. Are you still a Gap fan? What do you think about the New Gap logo idea?
Fisher Price Recall 2010 – Details
The famous kids brand Fisher Price of Mattel Inc. has initiated a massive recall of over 10 millions toys.
The Fisher Price toys have been recalled by the US Consumer Product Safety Commission.
Within the recall are several toys such as tricycles, toy cars, high chairs and play zones because they can cause dangerous falls and choking.
Fisher Price Recall Products List:
Fisher Price Trikes
Tough Trikes Toddler Tricycles
Healthy Care, Easy Clean and Close to Me High Chairs
Fisher-Price Little People Wheelies Stand 'n Play Rampway
Baby Playzone Crawl & Cruise Playground
Baby Playzone Crawl & Slide Arcade
Baby Gymnastics Play Wall
Ocean Wonders Kick & Crawl Aquarium (C3068 and H8094)
1-2-3 Tetherball
Bat & Score Goal
Injuries have already been reported. Pegs that fall out of products have caused children to fall or pieces where small enough that they where found in the child's mouth. Seven children even required stitches.
The Sun Sentinel offers these good tips:
No matter which company manufacturers your children’s toys, it is extremely important for parents and adults to check out the toys they buy.
Test them. Play with them. Look for ways they can cause problems.
Tug on small parts to see if they could come off.
Drop them on the ground to see if anything jars loose.
Watch your child play with the toys over an extended period to get a good idea of how they use the toy. Even so-called “safe” toys can be dangerous when used incorrectly.
Talk to other parents. If you know someone else who has the toy, ask about their experience.
Segway Owner James Heselden Dies
Wealthy British executive James Heselden, 62, was the owner of Segway company but he sadly died on Sunday after he drove a Segway off a cliff and landed in a river.
Authorities found Heselden's body in the Wharfe River in North England and was pronounced dead at the scene. Police do not suspect foul play and instead believe that this was simply a tragic accident.
James Heselden was not the inventor of the Segway, he was only the owner of the company. He is remembered as a very charitable man as he recently donated $16 million to Leeds Community Foundation.
Hyundai Sonata Recall 2010 Details
South Korea Hyundai car manufacturer is recalling over 140,000 Sonata models in the U.S.
While no accidents have been reported yet, Hyundai says the recall is a precaution after the discovered a malfunction with the steering wheels.
Hyundai Sonata Recall Details:
Affected models where manufactured from December 11, 2009 to September 10, 2010.
The steering problem could cause drivers to lose the ability to steer the car completely. This could have been due to an improper assembly or insufficient tightening.
Owners of Hyundai Sonata models should be receiving a notice in October or you can also contact Hyundai Customer Service at 1-800-633-5151. Customers will have their power steering software updated for free.
IBM Buys Netezza for $1.7 Billion
IBM announced on Monday that it has reached an agreement to buy Netezza, a data warehouse specialist, at $27 per share which comes to a total of $1.7 billion.
Netezza is a business that provides technology for government agencies and companies so that they can analyze large amounts of data quickly. IBM wants to take advantage of this technology for their analytics business.
Arvind Krishna, IBM's general manager for Information Management, said:
"The addition of Netezza will reinforce IBM's focus in understanding client's needs by providing them a broader set of analytics capabilities and bringing the power of analytics right into the hands of business users at every level within an organization."