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After an 11 percent drop in second-quater profits and a 12% drop in share prices, Microsoft has announced that it will slash 5000 jobs as a cost cutting measure. They have also declined to issue forecasts for profit for the rest of the year.

“We’re certainly in the midst of a once-in-a-lifetime set of economic conditions,” Chief Executive Steve Ballmer said during a conference call. With less access to credit, businesses and consumers are spending less and stretching the life span of their existing computers.

This article on theage.com.au goes into more detail about the move, which is the first of it’s magnitude in the company’s 34 year history.

ReadWriteWeb today reports that Google has hired Joshua Schachter - founder of Delicious, the famous online bookmarking service that was aquired from Schachter by Yahoo! 3 years ago. Schachter had left Yahoo! six months ago, and by joining Google will have the resources to potentially do some quite exciting things. Definitely one to watch.

TechCrunch has reported on yet another attempt on Yahoo is in the works - this time by a group of Silicon Valley executives that would be funded largely by Microsoft’s money anyhow.

Under the terms of the proposed deal, the investment group would make a takeover bid for Yahoo at a relatively low premium of around 20% to its current price of around $13 per share, valuing the company at just over $20 billion.

A complicated financial structure would be put in place to finance the deal, but the bulk of the cash for the transaction would come from Microsoft as debt.

Some more info on the complexities of the deal can be found on the TechCrunch article.

The Age Technology section today reports on an Australian, and possibly world first. A default judgement in a case where the defendant did not turn up to court was allowed to be communicated via facebook.

Master Harper [of the ACT Supreme Court] ordered that the defendants in the case could be validly served by the plaintiff sending a message by computer to the Facebook pages of both defendants informing them of the entry of and the terms of the judgement.

Australian courts are regarded as being amongst the most technologically advanced in the world, and this innovation goes to further that claim.

Google has announced a deal with Hallmark that will see Hallmark Channel and Hallmark Movie Channel added to the now quite expansive selection of networks available for the Google TV Ads program. Using online tools for targetting, deliverin and measuring ads, the program now offers advertisers access to advertising time on six networks from NBC Universal, as well as Bloomberg Television and 96 networks through DISH Network.

In the largest judgement ever made under the U.S. CAN-SPAM Act of 2004, California based social networking site Facebook has been awarded US$873 million in damages against a Canadian Facebook user, Adam Guerbuez who owns the company Atlantis Blue Capital.

The judgement comes as a result of more than 4 million bogus Facebook messages from members’ profiles being sent by Atlantis Blue Capital. Many of the spammy messages were promoting male enhancement drugs and the like.

“Does Facebook expect to quickly collect $873 million and share the proceeds in some way with our users? Alas, no. It’s unlikely that Geurbez and Atlantis Blue Capital could ever honor the judgment rendered against them (though we will certainly collect everything we can). But we are confident that this award represents a powerful deterrent to anyone and everyone who would seek to abuse Facebook and its users”, wrote Max Kelly, Facebook’s director of security.

This post on Kid Tech Guru has a copy of the judgement file embedded.

Some recent updates the to the Street View interface on Google Maps are just plain great. The video below demos the recent changes, or you can read about them here on the LatLong blog.

Just weeks after our success with the My Business Awards for Fasting Growing Small Business, E-Web Marketing have been announced as finalists in the Deloitte Technology Fast 50 for 2008.

The Technology fast 50 program ranks the 50 fastest-growing Australian technology companies, public or private, based on percentage revenue growth.  It is part of the global Technology Fast 500 program run in parallel throughout the various participating countries.

E-Web Marketing has experienced more than 100% growth year on year for the past 4 years, with staff and client numbers themselves doubling yearly also. We attribute our growth to the quality of our services, the passion and commitment to excellence from our team members, and the loyalty and support of our growing client base. We are proud to boast strong client retention and the clients who were with us from day one are still with us today. Now delivering quality results to over 400 clients, E-Web is set to continue our strong growth and forge forward for the years ahead. Gary and I, along with the rest of the team are excited about what the future holds for our company and the industry as a whole.

The winners will soon be announced, but we are happy just to be finalists for such a fantastic award.

Verecom Australia have been liaising with E-Web Marketing since early 2008 to develop successful online solutions for many businesses. During this time, E-Web marketing has been helping Verecom’s clients online marketing tremendously to boost their business sales. We are now pleased to announce that Verecom Australia have joined our group of E-Web Authorised Partners.

As a professional web design company, Verecom specialises in customised Web Design and development, graphic design as well as web programming including database driven CMS for E-Commerce websites. Their client portfolio consists of a range of web-based solutions developed for businesses ranging from small to medium businesses to large multi-national corporations.

By partnering with E-Web Marketing to supply SEO services for thier new and existing clients, Verecom Australia will continue to help many Australian businesses to achieve the online sale targets, increase their client website(s) performance and strengthen clients’ brand image.  Please visit www.verecom.com.au for Verecom’s products and services or feel free to contact them for further enquiries.

The team at E-Web would like to welcome John Jang and his team at Verecom aboard and we look forward to working closely with them to help grow our mutual client’s businesses online.

A few days ago we posted news that Yahoo! was going to be axing 10% of their global workforce. In an update to that news we read this afternoon that Yahoo!7, the joint venture of Yahoo! and channel 7 will be laying off 10% of their own staff effective immediately. The move will see up to 20 Yahooers hitting the job market. Yahoo’s global workforce is 14,300 people and was already cut by 7% in February of this year when around 1000 workers were culled.