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China Central Television (CCTV), the largest state-owned television network in China, recently ran a report accusing Baidu of questionable practices regarding medical search advertising. The accusations suggest that Baidu was allowing non-licensed medical companies to advertise while preventing some of the licensed ones from bidding on popular medical terms.

Baidu engaged in talks with CCTV to learn more about their accusations. They also removed paid search listings of medical companies who did not have proper licensing on file with Baidu.

Baidu maintains that they do not prevent the licensed companies from advertising. Advertising by medical companies makes up about 10-15% of Baidu’s revenue.

Of course, this is not the first time that state entities in China have caused unnecessary, undemocratic problems for Baidu.

Related Reading:
Baidu’s Profit Increases 91% in Third Quarter 2008

Walmart has sent a DMCA notice to TechCrunch and SearchAllDeals.com, a shopping search engine and deals aggregator. (Think of it as the Techmeme for deals on the web, with a Google custom search engine to boot.)

Both sites posted some information about “Black Friday” sales for discount giant Wal-mart. But Wal-mart is claiming copyright infringement. It’s also saying the info wasn’t supposed to be out before November 24th.

The problem is SearchAllDeals doesn’t host content. It simply links to it. This amounts to free advertising for Wal-mart.

And since TechCrunch also has the info, then Wal-mart has a leak problem, which is neither TechCrunch or SearchAllDeal’s problem.

If I were a competitor such as Target or K-mart, I’d be stepping up to the plate and making the most of this “controversy” by freely offering up my own deals.

h/t TechDirt

Related Reading:
Judge Throws Out Copyright Infringement Suit Against Online Video Site Veoh
Pro Intellectual Property Act Passes House
Google Talks On Its Approach To Content & Copyright

The FCC agreed to open the “white space” - the broadcast spectrum used by over the air television - to use by others apart from the regulated television stations, by a vote of 5-0 yesterday. This is a major accomplishment that companies such as Google, Microsoft, Dell and Hewlitt-Packard have been lobbying for over the past couple of years.

As Larry Page noted in the Official Google blog, “This is a clear victory for Internet users and anyone who wants good wireless communications.”

The WIA details:

“TV white spaces will increase accessibility to more reliable broadband networks, known as “mesh networks.” Mesh networks are self forming networks created by consumer electronics devices. Devices will simply find each other in the same way they find Wi-Fi hot spots today and broadband traffic can be routed through devices based on consumer preferences. For example, mesh networks will allow users wireless connectivity in the business environment. Easily accessible connectivity to office networks will generate efficiency in routine business processes-from printing documents remotely to transferring data to a client during a meeting.

Mesh networks also help to create connectivity in dead zones. These networks make it possible for the most common electronic devices to communicate with each other to resourcefully locate and establish a connection in nontraditional scenarios—like in a tunnel, or while riding the subway. “

The opportunities have been called “wifi on steroids” - as this spectrum would provide cheaper and more powerful wifi broadband access. There is a good video explaining the white space oportunities offered by the Wireless Innovation Alliance.

There have been promises of services being available within 90 days of it being opened up for use so we will have to wait and see what develops, but given the penetration is better and the service is wider - the use of this broadband methodology could dramatically increase internet access to many at a lower cost and using less power to do so.

Microsoft’s Bill Gates sees white space as helping WiFi “explode in terms of its usage, even out into some of these less dense areas where distance has been a big problem for Wi-Fi.”

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Washington is on a bailout binge lately, so you would think they’d hop on board when it looks like the private sector could actually manage to work things out on their own.

Like, I don’t know, the search advertising deal between Google and Yahoo. Yes, there are concerns from the advertisers. But Yahoo keeps posting dismal profits. So, unless something magical happens to Yahoo (like an acquisition by Microsoft - oh wait), then antitrust issues won’t even matter.

But Google has been dropping hints that it might walk away from the deal because of regulations they don’t want to comply with, like caps.

It’s been projected that the deal with Google could infuse $800 million of cold hard cash into Yahoo in a year’s time. That certainly wouldn’t hurt. Of course, Yahoo would need to manage that influx well, and therein lies the problem. Perhaps regulators don’t think the deal, which could hurt advertisers, would ultimately save Yahoo.

Adding fuel to that fire is that regulators have been lobbied hard by Microsoft, who is probably looking to watch Yahoo’s stock fall into the single digits before coming back to pick it up. Microsoft may be struggling to grow its search market share, but as a whole, they have a ton of cash on hand and will weather the economic storm. Acquiring Yahoo (especially if a merger with AOL takes place) could create a stronger second place finisher in the search engine market, which would reduce anti-competitive concerns, indeed.

Microsoft announced its earnings for the fiscal quarter ending September 30, 2008. For them, it’s the first quarter of their fiscal year, while other companies go with the traditional calendar and call it their third quarter.

Their net income increased by 2%. This was due largely in part to XBox360, a gaming console which recently received a price slash.

It has been widely noted that Microsoft has a bunch of cash on hand, especially since they didn’t end up acquiring Yahoo after all (yet). MSFT was up .28 at the time of this post. Though with the markets as volatile as they are, that could change at any minute.

Here’s the press release:

Microsoft Reports Record First-Quarter Revenue
Thursday October 23, 4:10 pm ET
Revenue surpasses $15 billion with healthy sales of enterprise software and Xbox 360 consoles

REDMOND, Wash., Oct. 23 /PRNewswire-FirstCall/ — Microsoft Corp. today announced revenue of $15.06 billion for the fiscal quarter ended Sept. 30, 2008, a 9% increase over the same period of the prior year. Operating income, net income and diluted earnings per share for the quarter were $6.00 billion, $4.37 billion and $0.48, respectively.

Microsoft showed particular strength in multiyear annuity sales, which grew more than 20% during the quarter from the combined businesses of Client, Microsoft Business Division and Server and Tools.

“Our customers are asking how they can save money and do more with less,” said Kevin Turner, chief operating officer at Microsoft. “Microsoft is uniquely positioned to help our customers save money through supplier consolidation, increased productivity, and a low total cost of ownership through the depth and breadth of our product portfolio and solutions.”

Microsoft continued to add to its product and services portfolio with innovative offerings such as Microsoft SQL Server 2008, Microsoft Hyper-V Server 2008 and the first service update to Microsoft Dynamics CRM Online.

“In a challenging economic environment, the first-quarter results exhibit the strength and diversity of our business model,” said Chris Liddell, chief financial officer of Microsoft.

Business Outlook

Microsoft’s business outlook reflects a balance of risks and the likelihood of a continued economic slowdown. The trends seen late in the first-quarter are now forecasted to continue, whereas previous expectations were for the economy to improve in the second half of the fiscal year. In this economic environment, the company is focused on three main actions; working with customers to provide high value products at the lowest total overall cost of ownership, increasing focus on expense management and targeting investment into the highest priority strategic opportunities.

Microsoft management offers the following guidance for the quarter ending
Dec. 31, 2008:
— Revenue is expected to be in the range of $17.3 billion to
$17.8 billion.
— Operating income is expected to be in the range of $6.1 billion to
$6.4 billion.
— Diluted earnings per share are expected to be in the range of $0.51 to
$0.53.

Management offers the following guidance for the full fiscal year ending
June 30, 2009:
— Revenue is expected to be in the range of $64.9 billion to
$66.4 billion.
— Operating income is expected to be in the range of $24.4 billion to
$25.5 billion.
— Diluted earnings per share are expected to be in the range of $2.00 to
$2.10.

Liddell noted that “we feel extremely good about our relative competitive position and our ability to continue outgrowing IT spend. We believe our exceptionally strong cash flow, product pipeline and financial strength will allow us to weather economic conditions well.”

Webcast Details

Microsoft will hold an audio webcast at 2:30 p.m. PDT (5:30 p.m. EDT) today with Chris Liddell, senior vice president and chief financial officer, Frank Brod, corporate vice president and chief accounting officer, and Bill Koefoed, general manager of Investor Relations, to discuss details of the company’s performance for the quarter and certain forward-looking information. The webcast will be available for replay through the close of business on Oct. 23, 2009.

About Microsoft

Founded in 1975, Microsoft (Nasdaq: MSFT - News) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

Forward-Looking Statements

Statements in this release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as:

— challenges to Microsoft’s business model;
— intense competition in all of Microsoft’s markets;
— Microsoft’s continued ability to protect its intellectual property
rights;
— claims that Microsoft has infringed the intellectual property rights
of others;
— the possibility of unauthorized disclosure of significant portions of
Microsoft’s source code;
— actual or perceived security vulnerabilities in Microsoft products
that could reduce revenue or lead to liability;
— government litigation and regulation affecting how Microsoft designs
and markets its products;
— Microsoft’s ability to attract and retain talented employees;
— delays in product development and related product release schedules;
— significant business investments that may not gain customer acceptance
and produce offsetting increases in revenue;
— changes in general economic conditions that affect our investment
portfolio or demand for computer hardware or software;
— adverse results in legal disputes;
— unanticipated tax liabilities;
— quality or supply problems in Microsoft’s consumer hardware or other
vertically integrated hardware and software products;
— impairment of goodwill or amortizable intangible assets causing a
charge to earnings;
— exposure to increased economic and regulatory uncertainties from
operating a global business;
— geopolitical conditions, natural disaster, cyberattack or other
catastrophic events disrupting Microsoft’s business;
— acquisitions and joint ventures that adversely affect the business;
— improper disclosure of personal data could result in liability and
harm to Microsoft’s reputation;
— outages and disruptions of online services if Microsoft fails to
maintain an adequate operations infrastructure;
— sales channel disruption, such as the bankruptcy of a major
distributor; and
— Microsoft’s ability to implement operating cost structures that align
with revenue growth.

For further information regarding risks and uncertainties associated with Microsoft’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Microsoft’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Microsoft’s Investor Relations department at (800) 285-7772 or at Microsoft’s Investor Relations Web site at http://www.microsoft.com/msft.

All information in this release is as of Oct. 23, 2008. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

Microsoft Corporation
Income Statements
(In millions, except per share amounts) (Unaudited)

Three Months Ended
September 30,
2008 2007

Revenue $15,061 $13,762
Operating expenses:
Cost of revenue 2,848 2,675
Research and development 2,283 1,837
Sales and marketing 3,044 2,683
General and administrative 887 718
Total operating expenses 9,062 7,913
Operating income 5,999 5,849
Other income (expense) (8) 367
Income before income taxes 5,991 6,216
Provision for income taxes 1,618 1,927
Net income $4,373 $4,289

Earnings per share:
Basic $0.48 $0.46
Diluted $0.48 $0.45

Weighted average shares outstanding:
Basic 9,084 9,380
Diluted 9,183 9,513

Cash dividends declared per common share $0.13 $0.11

Microsoft Corporation
Balance Sheets
(In millions)

September 30, June 30,
2008 2008 (1)
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $9,004 $10,339
Short-term investments (including
securities pledged as
collateral of $1,011 and $2,491) 11,718 13,323
Total cash, cash equivalents, and
short-term investments 20,722 23,662
Accounts receivable, net of
allowance for doubtful accounts of
$168 and $153 9,535 13,589
Inventories 1,640 985
Deferred income taxes 1,974 2,017
Other 3,331 2,989
Total current assets 37,202 43,242
Property and equipment, net of
accumulated depreciation of $6,622
and $6,302 6,552 6,242
Equity and other investments 4,381 6,588
Goodwill 12,291 12,108
Intangible assets, net 1,899 1,973
Deferred income taxes 1,041 949
Other long-term assets 1,751 1,691
Total assets $65,117 $72,793

Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $3,351 $4,034
Short-term debt 1,975 -
Accrued compensation 2,138 2,934
Income taxes 514 3,248
Short-term unearned revenue 11,815 13,397
Securities lending payable 1,070 2,614
Other 3,520 3,659
Total current liabilities 24,383 29,886
Long-term unearned revenue 1,662 1,900
Other long-term liabilities 5,478 4,721
Commitments and contingencies
Stockholders’ equity:
Common stock and paid-in capital -
shares authorized 24,000;
outstanding 8,977 and 9,151 61,655 62,849
Retained deficit, including
accumulated other comprehensive
income of $877 and $1,140 (28,061) (26,563)
Total stockholders’ equity 33,594 36,286
Total liabilities and
stockholders’ equity $65,117 $72,793

(1) Derived from audited financial statements

Microsoft Corporation
Cash Flows Statements
(In millions) (Unaudited)

Three Months Ended
September 30,
2008 2007
Operations
Net income $4,373 $4,289
Depreciation, amortization, and
other noncash items 585 435
Stock-based compensation expense 443 333
Net recognized losses (gains) on
investments and derivatives 36 (187)
Excess tax benefits from stock-
based payment arrangements (44) (69)
Deferred income taxes 376 357
Unearned revenue 4,186 3,821
Recognition of unearned revenue (6,044) (4,965)
Accounts receivable 3,985 2,806
Other current assets (558) (235)
Other long-term assets (116) (11)
Other current liabilities (4,552) (1,189)
Other long-term liabilities 700 493
Net cash from operations 3,370 5,878
Financing
Proceeds from short-term debt 1,975 -
Common stock issued 228 646
Common stock repurchased (6,493) (2,930)
Common stock cash dividends (998) (938)
Excess tax benefits from stock-
based payment arrangements 44 69
Net cash used in financing (5,244) (3,153)
Investing
Additions to property and
equipment (778) (510)
Acquisition of companies, net of
cash acquired (377) (5,396)
Purchases of investments (4,246) (5,997)
Maturities of investments 464 330
Sales of investments 7,075 9,120
Securities lending payable (1,543) 196
Net cash from (used in) investing 595 (2,257)
Effect of exchange rates on cash and
cash equivalents (56) 58
Net change in cash and cash
equivalents (1,335) 526
Cash and cash equivalents, beginning
of period 10,339 6,111
Cash and cash equivalents, end of
period $9,004 $6,637

Microsoft Corporation
Segment Revenue and Operating Income (Loss)
(In millions) (Unaudited)

Three Months Ended
September 30,
2008 2007
Revenue
Client $4,218 $4,139
Server and Tools 3,406 2,900
Online Services Business 770 671
Microsoft Business Division 4,949 4,117
Entertainment and Devices Division 1,814 1,929
Unallocated and other (96) 6
Consolidated $15,061 $13,762

Operating Income (Loss)
Client $3,267 $3,388
Server and Tools 1,151 959
Online Services Business (480) (267)
Microsoft Business Division 3,311 2,700
Entertainment and Devices Division 178 167
Corporate-level activity (1,428) (1,098)
Consolidated $5,999 $5,849

Source: Microsoft Corp.

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Yahoo and real estate search site are both planning to cut jobs. While Yahoo has been said to have a bloated work force, Zillow’s problems are due to the mortgage crisis and a decreased need for home valuations.

A Microsoft acquisition might not have saved these Yahoo jobs. Mergers are notorious for job cuts and many would have walked away. Much was said about the differences in the cultures of the two companies as being a reason against the merger. Of course, fewer people care about corporate culture when the economy is horrible and your company’s stock has plunged. Still, hindsight is 20/20.

Meanwhile, there’s just no way around the matter for Zillow. No one’s talking about bailing out real estate search and home valuations sites. It’s clear that the housing market was a giant bubble and that businesses built around it are going to suffer or need a new business model.

No fear. No distractions. The ability to let that which does not matter truly slide. Chuck Palahniuk
{center} Battling Distractions{/center}
I’m having a problem; it’s maliciou…
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battling distractions