The Stock Market Crashes:
The stock market is crashing and it looks like we are smack dab in the middle of a financial crisis. The stock market collapsed this week, fueled by a bankruptcy by Lehman Brothers, the 4th largest bank in the US, in addition to a federal bailout of AIG, the world’s largest insurer. This is on top of ongoing labor concerns, with another 84,000 layoffs reported in August, the eighth straight month of cuts. Plus, that’s on top of the
current housing meltdown we’ve experienced over the past year or so. Not good.
Businesses are likely to put off any new or increased advertising going forward and may even look to scale back in these times of uncertainty. The next 3 months will prove how well online advertising can weather really poor economic conditions.
Another Organization Opposes Google-Yahoo! Deal
In other news this week, The World Association of Newspapers, which represents over 18,000 newspapers, said the planned Google-Yahoo! deal should not be allowed because of antitrust concerns. This comes after last week’s concern expressed by the ANA, which represents over 400 companies and 9,000 brands. Interestingly, Google’s CEO said that much of the negative publicity aimed at the proposed partnership has been stirred up by Microsoft, saying, “We’re quite certain that Microsoft is busy helping people get upset about things.” The Microsoft, Google War rages on.
Yahoo! Launches Redesigned Homepage:
Just today, Yahoo! Launched a redesigned homepage, which is the most heavily trafficked site on the Web, but initially made it available to just 1% of its users. It will be slowly rolled out going forward and appears to offer some nice custom features. The new home page allows users to see when new information arrives not just on Yahoo! e-mail or Yahoo! news, but from other desired destinations as well, such as eBay or Gmail. The Yahoo home page attracts more than 100 million U.S. users a month and 300 million worldwide. That’s a lot of users, and that’s all for this week’s PPC Advertising Review.