Weekly Digital News Roundup: Feb 5 – Feb 9
RadioShack Proposes Up to $3 Million in Bankruptcy Bonuses
- According to the Wall Street Journal, RadioShack Corp. is looking for bankruptcy-court approval to pay up to $3 million in bonuses to key employees as it races toliquidate half its stores and turn over the rest to the highest bidder at a coming auction.
- Eight executives and up to 30 other employees are in line for the payouts, which the company says are essential to maximizing the sale price of the beleaguered company and to keeping people from leaving during the bankruptcy process.
- RadioShackfiled for Chapter 11 protection last week with plans to close up to 2,100 of its roughly 4,000 stores and keep the rest operating through a sale. Lender and shareholder Standard General LP offered to open bidding at a bankruptcy auction with a deal to acquire between 1,500 and 2,400 stores and partner with wireless operator Sprint to operate many of them.
Apple: the first $700 billion company
- According to Fortune, Apple has become the first U.S. company with a market value above $700 billion, adding to an already long list of achievements for the electronics titan. The company’s shares rose nearly 2% to $122.02 Tuesday, nudging its market capitalization to just under $711 billion.
- Apple’s value has increased dramatically since it started to turn its business around more than a decade ago with the introduction of the iPod. It has since conquered mobile phones and tablets, and is plotting to take on the nascent smartwatch category. But for a few blips over the years, Apple shares have been on a tear. Since 2000, they’ve risen nearly 120-fold. Just four years ago Apple’s market valuecrossed $300 billion for the first time. Now it’s more than double.
- Last month, Apple reported $18 billion in quarterly profits, the most of any company in history, based on record sales of 74.5 million iPhones. Apple’s has been flirting with a $700 billion market value for a while. However, Tuesday marks the first time it did so at the close of trading.
Google’s about to get smarter at answering health questions
- According to LA Times, with so many people looking to Google for answers to health questions, the company said Tuesday that it would start presenting medical information in its Knowledge Graph, a sidebar of text and images that shows typical symptoms and treatments for conditions, and details on how common certain conditions are.
- Previously, Google presented users with only website links when they searched for medical terms. Knowledge Graph collates information relevant to the query and presents it at the top of the results page, which will save people time because they don’t have to sift through various websites for basic information.
- The feature will be rolled out in the U.S. in English over the coming days.