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By Lorraine Woellert March 4 (Bloomberg) — Compromise legislation to curb carbon emissions is gaining support in the U.S. Congress because a stalled “cap-and-trade” bill can’t win passage, according to NRG Energy Inc. chief David Crane . “Cap-and-trade by definition is dead,” NRG’s chief executive officer said in an interview yesterday. Scrapping proposals to trade carbon credits for all polluters, senators are working on a plan for the electric-power industry to “go first,” Crane said. Oil refiners might pay fees that would go to highways and bridges instead of participating in trading emissions allowances, he said. The compromise measure, still being drafted by Massachusetts Democrat John Kerry , Connecticut independent Joseph Lieberman and Lindsey Graham , a South Carolina Republican, would also have provisions to promote nuclear power. The approach is drawing broader support than the cap-and- trade bill that passed the House last year and then stalled in the Senate, according to Crane. The chief of Princeton, New Jersey-based NRG was among executives from the group We Can Lead interviewed yesterday in Bloomberg’s Washington bureau. The group consists of clean-energy and technology companies, such as Google Inc. and Vestas North America. “I was really encouraged at the number of people who are listening now,” Crane said after meeting with lawmakers in Washington. “The range of Republican senators who are listening now goes beyond the normal three or four suspects.” He predicted the new bill, which senators expect to introduce in the coming weeks, won’t draw the “virulent opposition” that business lobbyists such as the U.S. Chamber of Commerce raised against the House cap-and-trade proposal. “You’re going to see a much more reasoned debate by all parties,” Crane said. “That’s because the stuff that really drove the opposition crazy has been taken out of the bill.” NRG, the second-largest power producer in Texas, fell 17 cents to $22.50 yesterday in New York Stock Exchange composite trading and has declined 4.7 percent this year. To contact the reporter on this story: Lorraine Woellert in Washington at lwoellert@bloomberg.net .

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Utilities May Be Willing to Go First on `Cap-and-Trade,’ NRG’s Crane Says

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By Brian Womack Feb. 26 (Bloomberg) — The Chinese cyber attacks that Google Inc. reported last month may have targeted more than 100 companies, a larger number than previously thought, according to security research firm ISEC Partners Inc. ISEC said it discovered the additional companies while working with victims of the attack, which originated in China. Google initially alerted 30 companies to the problem, San Francisco-based ISEC said. Google disclosed last month that it suffered “a highly sophisticated” cyber attack on its corporate infrastructure. The Mountain View, California-based company said Gmail e-mail accounts of Chinese human-rights activists were targeted by the hackers. It’s hard to tell how closely related the attackers are to Google’s, ISEC said. “Although none of the attacks or technique used in this series of attacks are particularly novel, the skill set, patience and tenacity of the attackers is much greater than most enterprises are equipped to deal with,” ISEC said in a report. Jill Hazelbaker , a Google spokeswoman, didn’t immediately respond to a message seeking comment. Google climbed 37 cents to $526.80 today in Nasdaq Stock Market trading. The shares have fallen 15 percent this year. To contact the reporter on this story: Brian Womack in San Francisco at bwomack1@bloomberg.net

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China Google Attacks May Have Hit 100 Companies, Security Researcher Says

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Video: Gillis Says Opportunity for Google in China `Overstated’: Video

February 12, 2010

Feb. 12 (Bloomberg) — Colin Gillis, senior analyst for BGC Partners LP, talks with Bloomberg’s Betty Liu about Google Inc.’s opportunity in China and the company’s public image. Gillis also discusses the growth outlook for most used Internet search site and regulatory and pricing challenges facing the company. (Source: Bloomberg)

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Twitter Hires Pixar Executive Rowghani as Company’s First Finance Chief

February 11, 2010

By Ryan Flinn Feb. 11 (Bloomberg) — Twitter Inc., the No. 3 social- networking site in the U.S., hired Ali Rowghani as its first chief financial officer, bolstering the company’s executive ranks as it seeks new sources of revenue. Rowghani, who is finance chief and senior vice president of strategic planning at Walt Disney Co.’s Pixar animation unit, will start at Twitter in March, the San Francisco-based company said yesterday in a statement. “Ali will be an important member of a growing team focused on creating value for our users and capturing the financial opportunities that result from it,” Evan Williams , chief executive officer of Twitter, said in the statement. Twitter, founded in 2006, runs a microblogging service that lets users write updates, or tweets, of as many as 140 characters. The company plans to introduce ads this year and is in discussions with potential advertisers, Chief Operating Officer Dick Costolo said last month. Costolo said an initial public offering remains on the distant horizon, as the company focuses this year on catching up “to our valuation.” Twitter, which has raised more than $150 million in venture funding, had a valuation of $1 billion in September, according to a person familiar with the matter. Costolo joined Twitter in September, following a stint at Google Inc. He had served as CEO of FeedBurner, a news-feed service bought by Google in 2007. Rowghani fills out the management team, which also includes Chairman Jack Dorsey and Creative Director Biz Stone . They co- founded the company with Williams. The Iranian-born Rowghani received both his bachelor’s degree and MBA from Stanford University. He joined Pixar in 2001. Twitter ranks behind Facebook Inc. and News Corp. ’s MySpace in U.S. social-networking users, according to ComScore Inc., a research firm in Reston, Virginia. To contact the reporter on this story: Ryan Flinn in San Francisco at rflinn@bloomberg.net

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Video: Google Asks China Search Engine to Stop Using Its Logo: Video

February 8, 2010

Feb. 9 (Bloomberg) — Bloomberg’s Stephen Engle reports on Goojje.com, a search engine operator in China which Google Inc. says is using its logo without authorization. A letter has been sent to the operator of the Goojje.com Web site asking for the practice to be stopped, a Tokyo-based spokeswoman for Google said in an e-mail yesterday. Google’s move comes as it holds talks with Chinese authorities on its plan to offer uncensored search results after saying it was the target of cyber attacks originating from the country. (Source: Bloomberg)

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Video: Google’s Pressures on China May Prove Ineffective: Video

January 31, 2010

Feb. 1 (Bloomberg) — Bloomberg’s Stephen Engle reports on the outlook for Google Inc.’s business after the company said this month it would stop censoring results and might shut down the Google.cn site and offices in China. Google Chief Executive Officer Eric Schmidt said his company opposes censorship in China and aims to apply pressure to improve the situation for the country’s people. Bloomberg’s Haslinda Amin also speaks. (Source: Bloomberg)

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Google Founders Brin, Page Plan to Sell $5.5 Billion in Company Shares

January 24, 2010

By Brian Womack Jan. 22 (Bloomberg) — Google Inc. founders Larry Page and Sergey Brin have adopted five-year trading plans to sell about 5 million shares each, reducing their combined ownership of stock outstanding to 15 percent from 18 percent. With the reduction in shares, Brin and Page’s voting power in the company would drop to 48 percent from 59 percent, according to a filing with the U.S. Securities and Exchange Commission. Based on today’s closing stock price, each would get about $2.75 billion from selling the shares. “They are both as committed as ever to Google and are integrally involved in our day-to-day management and product strategy,” Google said in an e-mailed statement. “The majority of their net worth remains with Google.” Page and Brin, who met at Stanford University in 1995 before starting Google, participated in a similar plan announced in 2004 that let them sell 7.2 million shares each. The founders are tied for No. 11 on the Forbes 400 list of richest Americans. Google had its initial public offering in 2004. Google , based in Mountain View, California, fell $32.97, or 5.7 percent, to $550.01 at 4 p.m. New York time on the Nasdaq Stock Market. The shares more than doubled last year. To contact the reporter on this story: Brian Womack in San Francisco at Bwomack1@bloomberg.net

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Google Founders Sergey Brin, Larry Page File to Sell 5 Million Shares Each

January 22, 2010

By Brian Womack Jan. 22 (Bloomberg) — Google Inc. founders Larry Page and Sergey Brin have adopted five-year trading plans to sell about 5 million shares each, reducing their combined ownership of stock outstanding to 15 percent from 18 percent. With the reduction in shares, Brin and Page’s voting power in the company would drop to 48 percent from 59 percent, according to a filing with the U.S. Securities and Exchange Commission. Based on today’s closing stock price, each would get about $2.75 billion from selling the shares. “They are both as committed as ever to Google and are integrally involved in our day-to-day management and product strategy,” Google said in an e-mailed statement. “The majority of their net worth remains with Google.” Page and Brin, who met at Stanford University in 1995 before starting Google, participated in a similar plan announced in 2004 that let them sell 7.2 million shares each. The founders are tied for No. 11 on the Forbes 400 list of richest Americans. Google had its initial public offering in 2004. Google , based in Mountain View, California, fell $32.97, or 5.7 percent, to $550.01 at 4 p.m. New York time on the Nasdaq Stock Market. The shares more than doubled last year. To contact the reporter on this story: Brian Womack in San Francisco at Bwomack1@bloomberg.net

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U.S. Will Issue Formal Protest to China After Cyber Attack Against Google

January 15, 2010

By Indira A.R. Lakshmanan Jan. 15 (Bloomberg) — The U.S. will issue a formal protest to the Chinese government over the cyber attack on Google Inc. that originated from China. “We will be issuing a formal demarche in Beijing, probably in the coming days” to express U.S. concern about the incident, State Department spokesman Philip J. Crowley said in Washington. In the protest, the U.S. will demand that China explain how the attack happened, he said. To contact the reporter on this story: Indira Lakshmanan in Washington at ilakshmanan@bloomberg.net

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Video: Elstrom Discusses Competition Between Apple, Google: Video

January 15, 2010

Jan. 15 (Bloomberg) — Bloomberg BusinessWeek’s Peter Elstrom talks with Bloomberg’s Erik Schatzker about the marketing campaigns Google Inc. and Apple Inc. are waging into one another’s core market businesses. (Source: Bloomberg)

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U.S. Said to Consider Formal Measures Against China Over Google Hacking

January 15, 2010

By Viola Gienger and Jeff Bliss Jan. 15 (Bloomberg) — The U.S. government may take formal measures against China over an alleged cyber-attack on Google Inc. and other companies, a State Department official said. David Shear, the deputy assistant secretary of state for East Asia and the Pacific, met with the Chinese Embassy’s deputy chief of mission in Washington yesterday to express concern and ask questions. Shear didn’t receive answers to any of the questions during the meeting, the State Department official told reporters in Washington on condition of anonymity. The allegations of breaches raise questions such as whether China will investigate the intrusions, the official said. If the attack represented part of a deliberate strategy on China’s part, that raises other concerns, the official said, without being specific. Google said the attack, which occurred last month, included theft of its intellectual property and hacking into the e-mail accounts of human rights activists, and that it targeted at least 20 other “large” companies in technology, finance and chemicals. While the State Department called for the meeting with the Chinese envoy, it wasn’t a formal summons. That may yet occur, the official said. Xi Yanchun, a spokeswoman for the Chinese Embassy, didn’t immediately return a message seeking comment after normal business hours. Unrestricted Use Alec Ross, Secretary of State Hillary Clinton ’s senior adviser for innovation, said the Obama administration views the allegations of cyber attacks as more than a commercial dispute. “I don’t think that we’re looking at these issues through the prism of American business interests,” Ross told reporters today during a videoconference call. “The United States has frequently made clear to the Chinese our views on the importance of unrestricted Internet use as well as cyber security, and we look to the Chinese government for an explanation.” Lawrence Summers , President Barack Obama’s top economic adviser, said Google Inc.’s threat to shutter operations in China over censorship and hacking has a moral and economic impact. “The principles that Google is trying to uphold are not just important in a moral or human rights framework but are also of very considerable economic importance,” Summers, director of Obama’s National Economic Council, told reporters at the White House yesterday. July 2009 Attacks The attacks on Google Inc. and the other companies were mounted by a group that tried to breach the computer networks of at least 25 companies in July 2009, said computer industry officials familiar with the breaches. Both the July 2009 attacks and those launched last month originated from similar or identical Internet protocol addresses, said Eli Jellenc, head of international cyber-intelligence at Sterling, Virginia-based iDefense Labs, which provides reports on breaches. High-technology and defense companies were targeted in both attacks, which involved e-mailed attachments with viruses, he said. The recent attacks were more sophisticated and successful in targeting trade secrets and other proprietary information, he said. The recent incidents show “a remarkable level of strategic coordination and planning, much greater than previous attacks,” said Jellenc, who added that there were at least 30 companies victimized. Hackers in December took legitimate documents, infected them with viruses and then sent them to company employees in e- mails that appeared to be from trusted colleagues, said Christopher Day, chief security architect at Terremark Worldwide Inc. The Miami-based computer network management firm has analyzed the viruses used in the attacks, he said. As many as 38 companies may have been targeted, said Day, citing industry officials familiar with the latest incursions. Similar breaches in the past have occurred in waves, so it’s possible this attack isn’t over and that the latest victim “hasn’t been discovered” yet, Day said. To contact the reporters on this story: Viola Gienger in Washington at vgienger@bloomberg.net ; Jeff Bliss in Washington jbliss@bloomberg.net .

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Gay-Marriage Trial in California Can’t Be Broadcast, Supreme Court Rules

January 13, 2010

By Greg Stohr Jan. 13 (Bloomberg) — A divided U.S. Supreme Court blocked the planned public broadcast of the San Francisco trial on the constitutionality of California’s ban on gay marriage. The justices voted 5-4 to bar the broadcast. Supporters of the gay-marriage ban challenged a federal district judge’s plan to have video of the trial made available for use on Google Inc.’s YouTube network. The Supreme Court earlier this week issued a two-day halt to the plan. To contact the reporter on this story: Greg Stohr in Washington at gstohr@bloomberg.net

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China BAK Says Speculation of Google Order That Stoked Shares is Unfounded

December 30, 2009

By Tim Culpan and Lu Wang Dec. 30 (Bloomberg) — China BAK Battery Inc. Chief Financial Officer Tony Shen said the unprofitable Chinese company hasn’t won any orders from Google Inc., denying speculation that drove the stock up 63 percent. “I have checked with all sales heads in all product lines as well as the CEO and COO,” Shen said in a phone interview today. “We have no knowledge of any such deals.” China BAK climbed to $3.64 as of 4 p.m. New York time in Nasdaq trading yesterday, its biggest advance since June 2004. The stock has more than doubled this year. Mark Tobin , an analyst with Roth Capital Partners LLC, said yesterday speculation circulated that the Shenzhen, China-based company was picked to supply batteries for a Google smart phone. Google may begin selling its own smart phone next year, the New York Times reported Dec. 13. The company invited reporters to an event on Jan. 5 to discuss its phone operating system, the newspaper said on its “Bits” blog yesterday. Katie Watson , a spokeswoman for Google, declined to comment. Shen said China BAK announced last week it won a $1 million order to supply batteries for buses in China, the company’s first “major” order from the automotive industry. About 60 percent of the company’s revenue is derived from mobile phones and 30 percent from laptop computers, he said. To contact the reporter on this story: Tim Culpan in Taipei at tculpan1@bloomberg.net ; Lu Wang in New York at lwang8@bloomberg.net

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Disney Nominates Facebook’s Sandberg to Board, Adding Networking Executive

December 23, 2009

By Adam Satariano Dec. 23 (Bloomberg) — Walt Disney Co. nominated Facebook Inc. Chief Operating Officer Sheryl Sandberg as an independent director, adding a top executive from the world’s biggest online social network to the largest media company. Sandberg, 40, will join the board after an election at the company’s annual meeting March 10, Burbank, California-based Disney said today in a statement. “She brings great expertise in the online world, considerable international experience and a deep understanding of consumer behavior,” John E. Pepper Jr. , Disney’s chairman, said in the statement. At Facebook, the Palo Alto, California-based social network with more than 350 million users, Sandberg is in charge of operations including ad sales, business development and privacy. Previously, she worked at Google Inc. as vice president of ad products, and was also chief of staff at the U.S. Treasury Department during the Clinton administration. Disney rose 4 cents to $32.35 at 1:17 p.m. in New York Stock Exchange composite trading. The shares had gained 42 percent this year before today. To contact the reporter on this story: Adam Satariano in San Francisco at asatariano1@bloomberg.net

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Google, Yelp Deal: Google Reportedly Close To Buying Yelp

December 19, 2009

Google Inc. is reportedly in talks to buy Yelp Inc., whose website enables users to review restaurants and other businesses — a possible sign that the search giant is ready to train its computing power on the local advertising market.

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AOL Officially Separates From Time Warner

December 9, 2009

After seven months of preparation, AOL is set to be officially independent of media giant Time Warner Inc., closing the book on their disastrous 2001 merger and opening a new chapter for the struggling Internet company. AOL Inc. will be a slimmer, more focused company, preparing to battle against Google Inc., Yahoo Inc. and Microsoft Corp. in the $29 billion U.S. market for online advertising. It is betting on a strategy centered on becoming the top creator of news, information, entertainment and other digital content.

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Video: Coleman Says Univ. of Michigan in Good Financial Shape: Video

November 6, 2009

Nov. 6 (Bloomberg) — University of Michigan President Mary Sue Coleman talks with Bloomberg’s Lori Rothman and Mark Crumpton about the university’s finances and partnership with Google Inc. to digitize books. Coleman says the university is in “very good financial shape.” (Source: Bloomberg)

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Video: Ulanoff Discusses Verizon Droid, Smart Phone Competition: Video

November 6, 2009

Nov. 6 (Bloomberg) — Lance Ulanoff, editor-in-chief of PCMag.com, talks with Bloomberg Television about Motorola Inc.’s Droid smart phone, which is powered by Google Inc.’s Android operating system and serviced through Verizon Wireless. (This is an excerpt from the full interview. Source: Bloomberg)

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Video: Blodget Calls Droid a `Credible Alternative’ to IPhone: Video

November 6, 2009

Nov. 6 (Bloomberg) — Henry Blodget, chief executive officer of The Business Insider, talks with Bloomberg’s Carol Massar and Erik Schatzker about the outlook for Motorola Inc.’s new Droid smart phone, which is powered by Google Inc.’s Android 2.0 operating system and uses Verizon Wireless’s network. Blodget also discusses the outlook for competition between Droid and Apple Inc.’s iPhone. (Source: Bloomberg)

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Video: Motorola’s Droid Launches at Verizon, Targets IPhone: Video

November 6, 2009

Nov. 6 (Bloomberg) — Bloomberg’s Michele Steele reports on today’s release of the Motorola Inc.’s Droid smart phone, which is powered by Google Inc.’s Android operating system and serviced through Verizon Wireless. (Source: Bloomberg)

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Video: Wired’s Thompson Sees `Slow Build’ for Android Phones: Video

October 26, 2009

Oct. 26 (Bloomberg) — Nicholas Thompson, senior editor of Wired magazine, talks with Bloomberg’s Matt Miller and Carol Massor about prospects for devices using Google Inc.’s Android operating system.¶ Thompson also discusses Verizon Wireless’s “Droid” phones and Apple Inc.’s iPhone. (Source: Bloomberg)

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Arthur Levinson: Apple Director Leaving Google Board

October 12, 2009

MOUNTAIN VIEW, Calif. — Google Inc. said Monday that a board member who also serves as a director for computer maker Apple Inc. is stepping down, removing a potential conflict of interest as the two companies look to compete more directly. Arthur Levinson, chairman of the biotech company Genentech Inc. and a Google board member since April 2004, resigned effective immediately. Google CEO Eric Schmidt said Levinson has been “a key part of Google’s success these past five years” but offered no specific reason for the departure. The announcement comes amid scrutiny from government regulators over ties between the companies. Schmidt stepped down from Apple’s board this summer shortly after Google unveiled plans for a personal computer operating system that would compete with Apple’s Mac computers. Google also makes software that runs on cell phones, putting it in competition with Apple’s iPhone. The growing overlap in the companies’ products had spurred the Federal Trade Commission to look into Schmidt’s duel role, concerned about the potential for the two companies to cooperate in a way that would reduce competition. After Schmidt stepped down from Apple’s board in August, the FTC said it would continue to examine Levinson’s ties at the companies. Google shares rose $7.88, 1.5 percent, to $524.13 in afternoon trading while Apple’s stock gained 13 cents to $190.60.

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RIM Third-Quarter Sales Forecast Misses Analysts’ Estimates; Shares Drop

September 24, 2009

By Hugo Miller Sept. 24 (Bloomberg) — Research In Motion Ltd., the maker of the BlackBerry phone, forecast third-quarter sales that missed analyst estimates, sending the shares lower in after- hours trading. Sales in the period ending Nov. 28 will be $3.6 billion to $3.85 billion, Waterloo, Ontario-based RIM said today in a statement. Analysts on average projected sales of $3.91 billion. Many analysts predict RIM will introduce a new version of its touch-screen Storm handset later this year to counter Apple Inc. ’s latest iPhone, Palm Inc.’s Pre and a raft of new handsets based on Google Inc.’s Android software planned for later this year. “Higher operating costs or lower margin this quarter due to development costs of new products” may hurt profit, said Michael Walkley , an analyst at Piper Jaffray & Co. in Minneapolis. He rates the shares “neutral” and doesn’t own the stock. RIM slid 8.8 percent to $75.76 in late trading. It fell $2.71 to $83.06 at 4 p.m. New York time on the Nasdaq Stock market. The shares have doubled this year. To contact the reporter on this story: Hugo Miller in Toronto at hugomiller@bloomberg.net

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Amazon.com Tells U.S. Court Congress Should Address Google Book Settlement

September 2, 2009

By Susan Decker and David Glovin Sept. 2 (Bloomberg) — Amazon.com Inc. , the world’s largest online retailer, told a U.S. court that Congress, not Google Inc., should be responsible for establishing rules on how to deal with digital copies of books. An agreement Google reached last year with some U.S. publishers and authors “invades the prerogatives of Congress and attempts to legislate a private solution to a problem that can only truly be solved with across-the-board changes to the copyright law that affect everyone,” Amazon.com said in a court filing yesterday that set out its legal arguments for opposing the settlement. Google was sued in 2005 by authors and publishers who said the company was infringing their copyrights on a massive scale by digitizing books. Under the settlement, Mountain View, California-based Google would pay $125 million and set up a “Book Rights Registry” so copyright owners could be compensated. A federal judge tentatively approved the settlement and scheduled a hearing for Oct. 7 to hear objections to it. Companies and individuals have until Sept. 4 to present their objections, while the U.S. government has until Sept. 18 to make any statement on the issue. Seattle-based Amazon.com said it has its own book-scanning project that would rival Google Book. It’s also part of a coalition including Microsoft Corp. and Yahoo! Inc. that argues that Google is trying to control the access and distribution of the world’s largest database of books and have control of so- called “orphan works” whose copyright owners can’t be found. ‘Perpetual Exploitation’ The agreement “is not so much a release of claims for past conduct as an agreement on behalf of a class of millions of authors and publishers, both known and unknown, to engage in a complex business arrangement with Google for the perpetual exploitation of millions of copyrighted works,” Amazon.com said in the filing in federal court in Manhattan. Sony Corp. , maker of an electronic book reader that rivals Amazon.com’s Kindle device, has argued in favor of the agreement, saying it would foster competition and spur innovation. Tokyo-based Sony gained access to more than 500,000 e-book titles for its readers through an agreement with Google . The settlement, reached with the Author’s Guild, Pearson Plc’s Penguin and Education units, McGraw-Hill Cos., John Wiley & Sons Inc. and CBS Corp.’s Simon & Schuster subsidiary, has generated strong opinions on either side. Google Supporters Among those backing the settlement are the University of Wisconsin, which says it is digitizing 10,000 works a month in collaboration with Google; the American Association of People with Disabilities, which said in court papers that the settlement will help the disabled gain access to books; and the U.S. Student Association, which says it represents more than 4 million college students, according to court records. The German government, hundreds of crime writers from Europe, dozens of publishers from Japan and individual authors have filed letters in court opposing the agreement as theft of intellectual property. The case is Authors Guild v. Google Inc., 05-cv-8136, U.S. District Court, Southern District of New York (Manhattan). To contact the reporters on this story: Susan Decker in Washington at sdecker1@bloomberg.net ; David Glovin in New York federal court at dglovin@bloomberg.net .

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Birinyi Says U.S. Stock Market Rally Signals a `Stronger’ Economic Rebound

August 24, 2009

By Whitney Kisling and Thomas R. Keene Aug. 24 (Bloomberg) — The rally that pushed the Standard & Poor’s 500 Index to the highest level since October is signaling the rebound in the economy will be stronger than most forecasters expect, investor Laszlo Birinyi said. “The markets are suggesting that the economy has turned the corner and is going to do a lot better than most people anticipate,” Birinyi, the founder of Westport, Connecticut- based research and money-management firm Birinyi Associates Inc., said today in an interview broadcast on Bloomberg Radio and Television. “I’m still very optimistic.” Birinyi predicted on May 20 that the S&P 500 will climb to a record 1,700 in the next two or three years, a 66 percent gain from its current level. The index has rallied 14 percent since he made that forecast. The benchmark index for U.S. stocks may rise another 5.9 percent to 1,087 within the next three months “if it continues to progress at the rate it’s been progressing,” Biryini said. Birinyi, who spent a decade on the trading desk at Salomon Brothers Inc. and is known for pioneering money-flow analysis, said he bought General Electric Co. shares and recommended Google Inc., Apple Inc., as well as health-care and retail stocks. The S&P 500 has rallied 52 percent from a 12-year low on March 9 as 76 percent of companies in the benchmark reported better-than-estimated second-quarter results and economic reports showed improvement. To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net

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Parallels Chief Predicts IPO of Software Maker in Two Years, Not Takeover

August 18, 2009

By Katie Hoffmann Aug. 18 (Bloomberg) — Parallels Chief Executive Officer Serguei Beloussov says he wants to take the software maker public in about two years, striving to stay independent. Companies including Microsoft Corp. and International Business Machines Corp. have “casually” approached him about an acquisition, Beloussov said in an interview last week. Parallels, based in Renton, Washington, would consider a bid if it provided a significant premium, he said, without elaborating. Parallels’ software lets computers run multiple operating systems. The market for so-called virtualization software , which lets clients reduce costs by buying fewer machines, will more than double to $4 billion in 2013, according to research firm Gartner Inc. Parallels competes in some areas with market leader VMware Inc . “For a few years, it is a fairly green field” in terms of growth opportunities, said Alan Dayley, a Gartner analyst in Alpine, Utah. “The main reason is the promise of cost savings.” VMware went public two years ago, in the biggest U.S. technology initial public offering since Google Inc. in 2004. Parallels, which has about 700 employees and $100 million in annual revenue, still needs to expand before offering shares, Beloussov said. VMware, spun off from EMC Corp., had about $1.9 billion in sales last year . Parallels tailors many of its programs for small- and medium-sized businesses. That could help it compete against VMware, “the 800-pound gorilla” competitor, which mainly targets large businesses, Dayley said. “Corporate accounts are definitely more penetrated than the small and medium enterprises,” Dayley said. “There is a lot of room there.” Seven U.S. technology companies have held IPOs this year. There were only four last year, down from more than 50 in 2007, as the recession crimped computer and software sales. Scott Brooks , a spokesman at IBM in Armonk, New York, declined to comment. Redmond, Washington-based Microsoft didn’t immediately respond to an e-mail request for comment. To contact the reporter on this story: Katie Hoffmann in New York at khoffmann4@bloomberg.net

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U.S. Soldier Captured by Taliban in Afghanistan Is Identified by Pentagon

July 19, 2009

By Dan Hart July 19 (Bloomberg) — The Defense Department identified the U.S. soldier missing since June 30 in Afghanistan as an Army private from Ketchum, Idaho, and said he has been captured. The soldier is Bowe Bergdahl, 23, a private first class with the 1st Battalion, 501st Parachute Infantry Regiment, 4th Brigade Combat Team stationed in Fort Richardson, Alaska, the military said in a statement

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