Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (47678)	1/15/2009 4:53:35 PM
From: Lizzie Tudor	Read Replies (3) \| Respond to of 57684

so BAC the strongest player goes down now? This is not exactly reassuring, esp since BofA CHOSE to buy Merrill. Makes it look like they don't know what the hell is going on at the top, just like Lehman.

To: Bill Harmond who wrote (47678)	1/15/2009 5:52:24 PM
From: stockman_scott	Respond to of 57684

Confirmed: Paul Allen's Vulcan lays off 50 workers techflash.com By John Cook on January 15, 2009 at 1:58 PST Last night, TechFlash reported that layoffs were coming at Paul Allen's private investment company Vulcan. Today, about 50 workers at the private company of the software billionaire were told that they no longer have jobs. Allen spokesman David Postman said Vulcan is eliminating and postponing certain projects, though he declined to say which ones. Postman said it was a "tough decision" since many of the workers are part of a close knit group,. But, he added that Allen -- who was ranked the 41st richest person the planet by Forbes last year -- is susceptible to the problems in the economy. "We are not immune," he said. Vulcan Real Estate -- which manages Allen's vast holdings in the South Lake Union neighborhood -- was not affected by the lay offs. And Postman stressed the company continues to push forward with projects in the neighborhood, including a new campus for Amazon.com. It is unclear what impact the decision will have on many of the startup companies that Allen has bankrolled over the years. Postman declined to comment when asked if the venture capital practice has been scaled back. About two months ago, Vulcan restructured its private equity division, laying off about a dozen workers. The Microsoft co-founder also is a major shareholder in Charter Communications, a cable and Internet service company that today missed $73.7 million in interest payments. Postman said the problems at Charter are unconnected to the layoffs today at Vulcan. The layoff accounts for about nine percent of Vulcan's staff. It does not impact Allen's other interests, including his sports teams, museums and the Allen Institute for Brain Science. Allen's holdings are vast, from mansions to yachts to positions in oil and gas companies.