Archive for March, 2009
IBM has been planning for a mutual, next-gen cloud computing for quite some time, but now some big players of the tech industry have rejected these ideas that seriously hit the plans.
In IT, cloud computing is being named as the next big shift and it will move computer storage and power from the offices and home to the web. Many big players of the industry are already knocking against one another to take the right position, as there considerable opportunities for huge gains.
US President Barack Obama has ordered the GM’s boss Rick Wagoner to step down from the chairmanship of the struggling US automaker.
According to a government official, Rick Wagoner is going to leave his position quite soon.
The US government is trying to outline terms to offer further grants to help out Chrysler and fellow carmaker Chrysler.
GM and Chrysler have already received $17.4bn bailout assistance from the US government and now they are looking for further $5 billion. GM has also said that it requires further $16.7 to recover from the current crisis.
According to some reports President Obama seemed quite frustrated on this issues and he may reject Chrysler and GM recovery plans reckoning them quite unrealistic. If it happens, the risk of bankruptcy of the biggest US carmakers would greatly increase.
President Obama‘s appointed auto task force issued two reports on the financial health of the two carmakers and it also said that Chrysler was not quite feasible in its current situation.
The report also demanded a merger of the company with an Italian automaker Fiat,as the current administration may only provide working capital to the company for the next one month.
It also pledges to provide funds to GM motors for the current operations only for the next two months and it has also urged the automaker to come up with another plan that may provide thorough details about further restructuring of the firm.
UK Prime Minister Gordon Brown says that world leaders must take necessary actions to get rid of worldwide economic gloom and improving worldwide banking system.
“The London summit should try to make vigorous support and recovery as well as for new jobs in the global economy,” Brown adds.
“Because of the worldwide economic slowdown more than 100m people have been forced to live below the line of poverty and the poorest countries of the world definitely need a helping hand in such chaotic situations.”
IBM revealed the details of its three high-speed rail projects outside the United Stated. These projects have been started in Taiwan, China and the Netherlands and according to IBM these plans will definitely bring the vision of convenient and efficient rail travel nearer to reality. They will also be effective to decrease urban congestion as well as pollution that occur because of transportation.
A considerable portion of US Govt-sponsored stimulus investment programs around the globe relates to spending in high-speed and other rail travels. The country has put nearly $8b to upgrade rail networks and develop high-speed rails and corridors.
President Obama has announced $1.2b to boost the clean-energy industry in the United States. The amount has been assigned to for different research projects at national labs and to extend a business tax credit to invest in development and research.
While addressing to green-tech researchers and other business people, President Obama said the various efforts in this connection were quite helpful to revitalize the country’s economy and decreased its dependence on foreign oil. The event was attended by more than 120 lab directors, researchers and clean-energy companies’ CEOs.
