Cashing Out: Week of Nov 2-8th, 2008 in Online Marketing News

Sprint Nextel Reports Large Loss in Consumers and Capital

1.3 million was the number of wireless subscribers that left Sprint Nextel for competitors during the third quarter of 2008. The nation’s third-largest wireless provider reported it lost $326 million, or 11 cents per share, for the three months ending Sept. 30. It had earned $64 million, or 2 cents per share, in the same period a year ago. Overall revenue fell 13 percent to $7.5 billion

Dan Hesse, CEO, told analysts Sprint Nextel plans to work harder to attract new customers during the upcoming holiday season but acknowledged “we have yet to turn the corner.” Yet two weeks ago Hesse stated that Google’s Android wasn’t good enough, wonder what he thinks about Android now.

Layoffs Continue and Zappos Provides Good Example

Online companies continued to announce layoffs including:

Zappos – There is not good way to have to layoff an employee. It is never pleasant for either side. Tony Hsieh, CEO of Zappos  handled the layoffs at Zappos in about the classiest most straightforward way possible. Layoffs at Zappos impacted 128 employees approximately 8% of its staff.
Veoh – Cut 20 jobs about 18% of its staff
Linkedin – Trimmed 36 jobs about 10% of its staff

Join in the Ballmer “Move On” Drinking Game and Watch Yang Speak Candidly About the Failed Yahoo and Microsoft Romance

Steve Ballmer speaking at a Committee for Economic Development of Australia sounded more like a scorned suitor than the CEO of Mircosoft. Read the linked article and for a fun drinking game take a shot everytime he says the phrase “move on”.

Jerry Yang did a very interesting interview with John Battelle of Federated Media at the Web 2.0 Summit. Video below:

Election Results

Finally there was the small matter of the election last week. Congratulations to our new President Elect Barack Obama. The moment was historic on so many levels and here at ReveNews it made us reflect what it means to be part of the United States of America, how lucky we are. We will soon know how Obama’s policies will impact the online as well as the offline market. Whether or not we agree with those policies, the awe-inspiring moments of this election will long resonate.