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	<title>AllThingsD &#187; KPMG</title>
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		<title>Will Tech Lead the Way to Recovery?</title>
		<link>http://allthingsd.com/20090819/will-tech-lead-the-way-to-recovery/</link>
		<comments>http://allthingsd.com/20090819/will-tech-lead-the-way-to-recovery/#comments</comments>
		<pubDate>Wed, 19 Aug 2009 12:15:25 +0000</pubDate>
		<dc:creator>Ben Worthen</dc:creator>
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		<category><![CDATA[KPMG]]></category>
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		<category><![CDATA[The Wall Street Journal]]></category>

		<guid isPermaLink="false">http://voices.allthingsd.com/?p=14530</guid>
		<description><![CDATA[Maybe it’s all the sunshine in Silicon Valley, but tech executives are feeling pretty good about the future--at least their part of it.

Eighty percent of tech companies said that business conditions will be better a year from now, according to a survey of senior executives at 130 tech companies by consulting firm KPMG.]]></description>
			<content:encoded><![CDATA[<p>Maybe it’s all the sunshine in Silicon Valley, but tech executives are feeling pretty good about the future&#8211;at least their part of it.</p>
<p>Eighty percent of tech companies said that business conditions will be better a year from now, according to a survey of senior executives at 130 tech companies by consulting firm KPMG. Seventy-eight percent of these executives said that they expected revenue to rise next year, and 72 percent expected increased profits. In all, 57 percent of the tech execs surveyed by KPMG expected the economy to have recovered by next year.</p>
<p>None of this is all that surprising considering some of the positive economic news in recent weeks. But 66 percent of the tech executives thought that the tech industry would recover faster than the economy as a whole, and only 17 percent said it would be later.</p>
<p><a href="http://blogs.wsj.com/digits/2009/08/18/will-tech-lead-the-way-to-recovery/">Read the rest of this post on the original site</a></p>
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		<title>Sirius to Shareholders: Put Down the Mylanta</title>
		<link>http://allthingsd.com/20090306/sirius-to-shareholders-put-down-the-mylanta/</link>
		<comments>http://allthingsd.com/20090306/sirius-to-shareholders-put-down-the-mylanta/#comments</comments>
		<pubDate>Fri, 06 Mar 2009 19:47:08 +0000</pubDate>
		<dc:creator>John Paczkowski</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[10-K]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[default]]></category>
		<category><![CDATA[disclosure]]></category>
		<category><![CDATA[financial statement]]></category>
		<category><![CDATA[going concern]]></category>
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		<category><![CDATA[John Paczkowski]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[Liberty Media]]></category>
		<category><![CDATA[Mel Karmazin]]></category>
		<category><![CDATA[Notification of Late Filing]]></category>
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		<guid isPermaLink="false">http://digitaldaily.allthingsd.com/?p=14366</guid>
		<description><![CDATA[Investors holding shares in foundering satellite radio outfit Sirius XM just received a bit of welcome news. The company has closed its investment deal with Liberty Media, resolving the "uncertainty" surrounding its debt maturing in 2009. Good thing too, because that uncertainty was pretty worrisome.]]></description>
			<content:encoded><![CDATA[<p><img src="http://digitaldaily.allthingsd.com/files/2009/02/sirius-liberty.jpg" alt="sirius-liberty" title="sirius-liberty" width="250" height="256" class="alignright size-full wp-image-13054" />Investors holding shares in foundering satellite radio outfit Sirius XM just received a bit of welcome news. The company has <a href="http://investor.sirius.com/releasedetail.cfm?ReleaseID=369317">closed its investment deal with Liberty Media</a>. &#8220;We are excited to have closed the second and final phase of our investment agreement with Liberty Media,&#8221; Sirius CEO Mel Karmazin said in a statement. &#8220;It is an example of the confidence our that lenders and Liberty have in our business model. These transactions resolve all of the uncertainty surrounding the company&#8217;s and its subsidiaries&#8217; debt maturing in 2009.&#8221;</p>
<p>Good thing too, because that uncertainty was pretty worrisome. Buried in the company&#8217;s recent <a href="http://idea.sec.gov/Archives/edgar/data/908937/000095012309003789/y74943ntnt10vk.htm">Notification of Late Filing with the SEC</a>, along with the now standard warning about the souring economy&#8217;s effect on business, was this little disclosure:</p>
<p><em>Management has not yet completed its evaluation as to whether substantial doubt exists relative to the Company’s ability to continue as a going concern for a reasonable period of time. A significant element of that evaluation relates to uncertainties associated with funding of amounts stipulated in the aforementioned Investment Agreements. These uncertainties may not be resolved by the time the Company files its Form 10-K with the Securities and Exchange Commission. In the event such uncertainties remain unresolved, management anticipates that KPMG LLP’s auditors’ report relative to the Company’s 2008 consolidated financial statements will contain an explanatory paragraph indicating substantial doubt about the Company’s ability to continue as a going concern.</p>
<p>In addition to resulting in termination of further funding pursuant to the Investment Agreements, the inclusion of such a paragraph by KPMG LLP would result in a default under certain indebtedness of the Company, XM Holdings and XM Satellite Radio Inc. (“XM Inc.”) which defaults, if not cured or waived prior to the expiration of the applicable grace period, would result in an event of default under other indebtedness of the Company, XM Holdings and XM Inc. Such events of default, if they occur, provide the lenders the right to demand all amounts due under the respective agreements immediately due and payable.</em></p>
<p>What this means is that if KPMG&#8217;s assessment of the company is that it&#8217;s not able to continue as a &#8220;going concern&#8221; and the company had not at that time resolved its debt issues, it would automatically default.  Presumably, now that Sirius (SIRI) has closed the Liberty (LINTA) deal, that&#8217;s no longer a possibility. Looming crisis averted.</p>
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		<title>Yahoo PR Head Jill Nash to Depart the Company</title>
		<link>http://allthingsd.com/20090202/yahoo-pr-head-jill-nash-to-depart-the-company/</link>
		<comments>http://allthingsd.com/20090202/yahoo-pr-head-jill-nash-to-depart-the-company/#comments</comments>
		<pubDate>Mon, 02 Feb 2009 22:44:21 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Carol Bartz]]></category>
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		<category><![CDATA[Eric Hadley]]></category>
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		<category><![CDATA[Jerry Yang]]></category>
		<category><![CDATA[Jill Nash]]></category>
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		<category><![CDATA[Satish Dharmaraj]]></category>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=9289</guid>
		<description><![CDATA[Jill Nash, Yahoo's chief communications officer, has told CEO Carol Bartz and other Yahoo staff this afternoon that she is leaving the company.

Nash, sources said, told staff that she does not have any plans to move to another company immediately, so the reasons for her departure are unclear.

BoomTown would have to guess that Nash is simply completely spent from her past two years at Yahoo, which have been very fraught from a public relations perspective, to say the least.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2009/02/jill_nash_thumb.jpg"><img src="http://kara.allthingsd.com/files/2009/02/jill_nash_thumb.jpg" alt="" title="jill_nash_thumb" width="80" height="110" class="alignright size-full wp-image-9294" /></a></p>
<p>Jill Nash, Yahoo&#8217;s chief communications officer, has told CEO Carol Bartz and other Yahoo staff this afternoon that she is leaving the company.</p>
<p>Yahoo has not made Nash&#8217;s resignation official, but is likely to do so quickly as Bartz tries to stanch incessant leaks (like this one; see below!).</p>
<p>In any case, sources said Nash does not appear to have any definite plans to move to another company immediately, so the reasons for her departure are unclear.</p>
<p>BoomTown would have to guess that Nash is simply completely spent from her past two years at Yahoo (YHOO), which have been very fraught from a public relations perspective, to say the least.</p>
<p>Nash, who was hired by former CEO Terry Semel, has had to deal with everything from management turmoil, after Semel was replaced by co-founder Jerry Yang, to poor financial results to a nasty takeover attempt by Microsoft (MSFT) to an even less friendly proxy fight to a failed search deal with Google (GOOG) to recent wrenching layoffs.</p>
<p>Not much good news to report, in other words, especially with a tough turnaround road ahead with newly installed CEO Bartz, who seems to have a very strong mind of her own about public relations.</p>
<p>(Including, several sources tell me, this week in an internal memo, offering cash rewards to employees who turn in other employees who leak to the press. Bartz has also initiated investigations to stop leaks. All I can say about these tactics&#8211;while it might seem reasonable to try to stop the leaking, from a management perspective, and I see why Bartz is focusing on it&#8211;is: Yahoo is not a prison and its employees are not snitches and&#8211;more to the point&#8211;they won&#8217;t leak to me if Bartz <em>fixes</em> the company.)</p>
<p>While I have not always seen eye-to-eye with Nash on this column&#8217;s coverage of Yahoo, I have found her to be a pro to deal with and fair, especially considering the often tense circumstances at Yahoo in the last year.</p>
<p>Nash is not the first top Yahoo exec to depart since Bartz got to Yahoo in mid-January and will not likely be the last, as the new CEO carves out her own path and chooses the team she wants.</p>
<p>Many Yahoos have told me, not for attribution and at all levels of the company, that they are bone-tired of the long-term struggle the company has been engaged in and want to move on, even in this weak economic climate.</p>
<p>Last week, this column reported the departures of Zimbra co-founder <a href="http://kara.allthingsd.com/20090121/zimbra-founder-satish-dharmaraj-to-depart-yahoo/">Satish Dharmaraj</a> and marketing exec <a href="http://kara.allthingsd.com/20090122/yahooyet-another-hiring-over-and-out-hadley-heads-to-microsoft/">Eric Hadley</a>, neither of which was necessarily due to Bartz&#8217;s arrival.</p>
<p>Now it&#8217;s Nash&#8217;s turn to say goodbye. <a href="http://yhoo.client.shareholder.com/press/management.cfm">According to Yahoo&#8217;s Web site</a>, her duties were to lead its outward-facing efforts.</p>
<p>It reads, in part: &#8220;As a key member of the Yahoo! executive team, Nash will be responsible for the company&#8217;s worldwide communications efforts, including public and media relations, corporate reputation, corporate, financial and employee communications, and crisis and issues management.&#8221;</p>
<p>Nash came to Yahoo from the Gap, where she was the VP of global corporate communications. Previous to that, she worked at Charles Schwab (SCHW), KPMG and Transamerica Life.</p>
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