Archive for the ‘Investors’ tag
Flyclear shuts down
I had really appreciated the idea of not having to spend my time during the security check at the airport. I travelled often when I was a consultant with Manhattan Associates and was often frustrated by the long lines on Monday mornings.
Flyclear provided regular passengers with a one time security check and a pass to move through the security lines without waiting in line and without any further checks.
When appointed to my company’s professional services advisory board I often heard other consultants request for reimbursement for applying for this facility ($200). But now it is to no avail.
Apparently the firms’ investors such as Lockheed Martin and Spark Capital decided not to further pursue the venture after investing close to $54 million on the company. Valued at about $90 million it seemed apparent that the venture will not bring in the requisite subscribers (250,000 to date).
It seems the closure of this company signals another victim of this wretched economy.
Apple Releases new IPhone – 3GS
Apple unveiled its newest and fastest iPhone yet, the 3GS. I am quite excited about the product as it a much superior product, by leaps and bounds, to other similar products in the market. The app store, iPhone’s greatest strength keeps is ahead of its rivals.
The pricing for the new iPhones are going to be:
- iPhone 3G S will cost $199 (16GB) and $299 (32GB) for new and qualifying customers.
- iPhone 3G will cost $99 (8GB) for new and qualifying customers.
- The 16GB iPhone 3G will be available for $149 while supplies last.
While new customers will definitely be happy with the offering, the old customers will have a tough decision when its comes to their upgrading. AT&T, the quintessential monopolistic provider, has decided to squeeze the previous owners of their money.
Investors are expecting that the reduction in the price of the iphone (by $100) will result in a 100% increase in sales, as it did the last time around. How the stock market (stock ticker: AAPL) responded to the news is shown below:
The market did respond favorably taking the stock to a respectable USD143.8. Volume traded shot up during the last hours of trading. But today the market did not respond well initially bringing the stock down to less than $141 but picked up back again. Let us see what effect the news from AT&T have on the stock in the days to come.
