AT&T is taking a $1 billion noncash accounting charge during the first quarter as part of the health care overhaul. Benefits being received by current and retired workers might be cut from the telecommunications company.
AT&T is not the only major company to announce the noncash accounting charge. AK Steel, John Deere, 3M and Valero Energy announced the same thing at different dollar amounts. 3M said they would take a charge of about $85-$90 million. [NYT]
Apple Inc. (NASDAQ:AAPL) has run out of iPads. If you try to pre-order one today, it is likely that you won’t be able to pick one up until April 12. Previous orders were made to be available on April 3. [BusinessInsider]
“Ann Arbor Google Fiber, ain’t Nothing any finer,” was a chant that was performed by a mob of a couple of hundred people at the Diag in Ann Arbor. The mob was there in support of A2Fiber (Twitter hashtag: #a2fiber). Ann Arbor Mayor John Hieftje gave a speech about how important it would be to get Google fiber to be installed in the city. He even made a jab at the mayor of Duluth Don Ness for jumping in a freezing cold lake [video of that].
Google has made proposals to install ultra high-speed fiber networks across several communities in the U.S. The network would provide about 100 times the speed of DSL and cable connections. The City of Ann Arbor and the University of Michigan have teamed up on the A2Fiber organization. By having access to high speed networks, it may provide tremendous opportunity for business innovation and entrepreneurship to the city of Ann Arbor.
[AnnArbor.com has additional coverage of the event here]
[The Official Google Blog has additional details about Google Fiber here]
*For those of you that are curious what kind of camera I used, it was a Nikon Coolpix S560.
Nokia has bought an Illinois-based company called Novarra. Novarra used to be known as Infospeed Communications. Novarra develops mobile web browser technologies. The terms of the acquisition are unknown.
Nokia said that Novarra will be rolled into Nokia’s web browser. Novarra started in 1999 and raised $50 million in funding. Investors in Novarra include Qualcomm Ventures, JK&B Capital, Public Employees Retirement Association of Colorado, and Fort Washington Capital Partners Group. Novarra has about 100 employees. [alarm:clock]
ZeuApp is a Windows-only program that allows you to find all free and open source software. ZeuApp makes it easy to download and visit the websites of about 82 applications across categories such as Archivers, Internet, Chat-IM, Games, Office, etc. ZeuApp is currently available as Freeware and is Windows-only. [ZeuApp via Lifehacker]
American automotive company V-Vehicle was denied a $321 million loan from the Department of Energy. V-Vehicle was founded by former Oracle vice president Frank Varasano. V-Vehicle raised venture capital from Kleiner Perkins Caufield & Byers and T. Boone Pickens. V-Vehicle is based in Monroe, Louisiana. The company raised $87.5 million through private fundraising and was promised $67 million from the state of Louisiana.
The Department of Energy denied V-Vehicle $321 million as part of the $25 billion Advanced Technology Vehicle Manufacturing Loan Program set up by Congress. Car and Driver speculates that the reason why V-Vehicle may have been denied the loan because they are not involved with the UAW. The UAW has a strong lobby group in Washington. V-Vehicle has about 1,400 employees. [Car and Driver]
Above is a video of former President George W. Bush wiping his hands on the shirt of former President Bill Clinton’s shirt after shaking the hands of a Haitian person. The name of the YouTube video is “George W. Bush Thinks Haitians Have Cooties.” And the video amassed over 200,000 videos on YouTube in less than 24 hours. #FAIL for Bush, #WIN for YouTube.
On a more serious note, the two former Presidents of the United States are visiting Haiti to express their support during the extremely unfortunate earthquakes that the country faced within the last couple of months.
Analysts expect that Toyota will be spending about $1 billion in the form of consumer incentives to retain customers and gain new ones after the massive recall. This includes zero-interest financing, free maintenance for previous Toyota owners, and subsidized leases. These incentives may last for a model year too. “Once an automaker offers a high level of incentives, it is very difficult to take it away on a model year without having a big drop in sales,” stated TrueCar VP of industry trends Jesse Toprak in an interview with CNN. [CNN]