- Sprint Nextel has cautiously begun offering unlimited wireless calling plans that could, analysts say, rock the competition in both wireless and landline industries. The new service plan offers unlimited voice, text-messaging, and data services for $120 a month. Private industry consultants say consumers are more than willing to pay a premium for the simplicity and predictability of unlimited service bundles, which is good news for Sprint Nextel after last quarter’s network glitches and ongoing customer attrition.
- Goldman Sachs, the first investment bank to report earnings this quarter, posted record quarterly profits of $3.2 billion from solid revenue growth in its advisory and debt-underwriting businesses. The company’s chairman, Lloyd C. Blankfein, said his firm’s success comes from a strong commitment to their client-driven strategy and prudence in risk management.
- Media giant Viacom slammed Google and YouTube with the most aggressive lawsuit yet, perhaps emboldened by Microsoft’s attack last week. Spectators see an easy solution in the form of a content partnership, but the companies have been unable to cooperate. Meanwhile, YouTube has been realizing the value of strategic partnerships with hundreds of smaller media companies, and is working toward licensing agreements with other big-league US media firms.
- US retail sales dropped by 0.1 percent last month. Economists attribute the decline in spending to chilly weather, keeping consumers out of the shopping mood, and a weak housing market that makes saving a more attractive option. If gasoline prices continue to rise through March, economists expect consumer spending to decrease considerably for next quarter as well.
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BNET Dispatch: March 13, 2007
March 13th, 2007 @ 11:13 am
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