- FinanceBusiness Insider•2 hours ago
Inside Facebook's plan to eat another $350 billion IT market
On an ordinary work day in mid-2016, a handful of Facebook engineers were sitting on the couches in a corner of the company's Menlo Park, California, headquarters when one of them tossed out a wacky idea. "It can't be so difficult to build our own system," the engineer said, referring to the telecom equipment that sends data across cables and wireless networks, and which the engineer suspected could be made to operate faster and cheaper than the pricey equipment sold by big vendors like Nortel, Huawei, Ericsson, Cisco or Juniper Networks. The engineer was suggesting building the telecom industry's first "white box" transponder, made with off-the-shelf parts such as chips from Broadcom and Acacia Communications, optical equipment from Lumentum, and software from one of the many new networking startups cropping up these days.
- FinanceBusiness Insider•2 hours ago
Sears' CEO blames the media for company's decline — but his obsession with Wall Street set it up for failure
Sears Holdings spent $5.8 billion buying back shares from 2005 to 2010, draining the company of resources. CEO Eddie Lampert defended the buybacks as the most efficient use of capital, arguing that investment in stores wasn't necessary. The company — considered the most vulnerable publicly traded retailer — is now selling off assets to stay afloat.
- BusinessCNBC•23 hours ago
Couple who paid off $18,000 in 54 days shares their No. 1 money saving tip
David Cahill and his wife Meg managed to eliminate $18,000 worth of student loans in 54 days , thanks mostly to extreme saving. "Our mantra became, Sacrifice now in order to be able to win later," Cahill tells CNBC. As soon as he and his wife committed to paying off their loans aggressively, "we actually sat down with our friends and told them about the ambitious plans that we had and asked them to provide us accountability," Cahill says.
