Today in Tech: Cisco CEO says company a disappointment
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“We have disappointed our investors and we have confused our employees.”
— Cisco CEO John Chambers in a company-wide email. (Wall Street Journal)
Cisco CEO John Chambers sent out a company email admitting the company has lost its way and needs a major overhaul of its operations. He also suggested “a number of targeted moves,” including cost cuts, could be on the way. (Wall Street Journal)
- President Barack Obama, Mark Zuckerberg, and Facebook COO Sheryl Sandberg will participate in a Facebook Townhall on Wednesday, April 20 at the social network’s Palo Alto headquarters. The trio will answer questions from Facebook users about economic recovery and funding innovation. (Inside Facebook)
- The streaming TV business, including Netflix and Hulu Plus, will make $800 million in revenues come 2013. (TechCrunch)
- Zynga bought up MarketZero, maker of PokerTableRatings, for an undisclosed sum, making it the game maker’s 11th acquisition in 11 months. According to a company spokesman, Zynga bought MarketZero for the team and not the property itself. (Zynga)
- According to Forbes and the Reputation Institute, Amazon is this year’s most reputable company because “consumers believe that it stands for more than what it sells.” (Last year’s victor? Johnson & Johnson.) (Business Insider)
- Want proof Verizon Wireless offers a better calling experience than AT&T? Look no further than the latest ChangeWave survey, which found that 82% of Verizon iPhone 4 owners are “very satisfied” with their devices, compared with 80% of AT&T iPhone 4 owners. And when it cames to dropped calls, Verizon iPhone 4 users reported just 1.8% dropped calls over the last three months, whereas AT&T iPhone 4 owners averaged 4.8% over the same time span. (9 to 5 Mac)
- Speaking of the iPhone, more than one-third of all teens plan on buying an iPhone some time within the next six months, and 17% already own one. (Silicon Alley Insider)
- Social sharing in News Corp.’s iPad newspaper, The Daily, appears to be seriously declining, which some critics are saying isn’t a good sign for the publication’s overall health. According to the Nieman Journalism Lab, readers were sending out over 200 tweets per day the second week of February, but as of end of March, it was more like 50. (BetaBeat)
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