FCC Chairman Julius Genachowski Stepping Down After Contentious Term: Reports
Federal Communications Commission Chairman Julius Genachowski will announce on Friday that he is stepping down, according to multiple reports. Genachowski, who became chairman in 2009, has presided over an agency that has grappled with contentious issues like U.S. broadband policy, cable and telecom industry competition, and media consolidation. In seeking to strike a centrist balance, Genachowski managed to displease both public interest groups that have pushed for a more activist FCC on issues like media ownership and Internet openness, as well as industry giants, particularly AT&T, which had proposed buying T-Mobile before the FCC objected. Genachowski’s announcement, which was expected, comes just days after another FCC commissioner, Robert McDowell, announced his plan to leave the agency. Their departures create two vacancies on the commission, which will be filled by candidates nominated by President Obama. The job of FCC chairman is particularly important, because the position ...
Yahoo's 1Q earnings surge while revenue sags
Yahoo's Internet advertising revenue crumbled further during the first three months of the year and overshadowed a surge in the company's earnings.The results released Tuesday seemed to dim some of the aura surrounding Yahoo CEO Marissa Mayer, who was lured away from a top job at Google Inc. nine months ago to engineer a turnaround at a company that has been struggling for years.There have been si...
Found 1 month ago on channel MSNBC
AmEx Promotes Gilligan to President
American Express promoted Vice Chairman Edward Gilligan to the role of president, further solidifying his stature as the likely successor to Chairman and CEO Kenneth Chenault.
Video: Google Fiber coming to Austin
Stocks opened higher as investors wait for President Obama to release his budget proposal, car repair prices are rising, and Google is bringing its Fiber internet to Austin, Texas. Ashley Morrison reports.
Found 1 month ago on channel CBS
Avon Eliminating Hundreds of Jobs; Leaves Ireland
NEW YORK — Avon is eliminating more than 400 positions and abandoning or restructuring smaller or underperforming businesses in Africa, the Middle East and Europe, including an exit from Ireland. The company said Monday that the job cuts, which equate to about 1 percent of Avon’s 39,100 employees, will occur across all regions and segments. It is part of a turnaround plan under CEO Sheri McCoy, with the goal of achieving mid-single digit percentage revenue growth and $400 million in cost savings by 2016. Avon expects to complete almost all the cuts before year’s end. The New York company will take charges of around $35 million to $40 million before taxes and expects annualized savings of between $45 million and $50 million. (MORE: Report: Google Fiber Coming to Austin as Cities Race to Increase Web Speeds) The jobs cuts come on top of the 1,500 positions trimmed in December, when the company announced that it was exiting Vietnam and South Korea. The direct seller of beauty products ...