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Peninsula, Bad Economic News Timeline Saturday, October 11     Author
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Bad news on cancer drug Rituxan  Shares in Genentech sagged, after the company said Rituxan failed to curb symptoms of the debilitating autoimmune disorder Firm fined after worker's death  Coastal Circuits has been fined $3,800 for safety violations after an Fernando Jimenez Gonzales was found in a vat of acidic solution CEO says more cost-cutting ahead  Hewlett-Packard still has more cost-cutting ahead, even after a massive restructuring that has sliced the work force by 10% Shareholder Suit Claims Insider Trading  A lawsuit overis alleging that executives sold millions of dollars in stock just before the scandal broke CEO Offers Apology; Chair Resigns Now
World News USA (204) Bay Area Business (1016) Bad Economic News (218) Peninsula
2006 (7) 2005 (3) 2004 (1) 2003 (2) 2002 (2) 2001 (9)
   Central San Mateo County    Hayward Castro Valley San Leandro    Richest Towns    South San Mateo County    SFO    Redwood City    San Mateo
Peninsula on Wikipedia Peninsula on Web Peninsula Books Real Estate 		Cell Genesys Drug Trial Halts

August 2008 ... more > Top ^

Aug.27   South SF
  Shares plunged more than 70% after a clinical trial of its cancer vaccine Gvax was stopped due to a higher number of deaths among patients

April 2008 ... more > Top ^

Apr.30   Genentech

February 2008 ... more > Top ^

Feb.7   San Carlos

year 2006 Top ^

Dec.12   HP
Nov.30   HP
Sep.22   HP
  Mark Hurd announced that the fallout over the scandal also appeared to take down 2 senior HP employees
Jul.8   SFO Low Ridership On BART Airport Extension  The officials had projected there would be 18,000 average daily boardings. But there were only about 7,000 Jul.6   HP HP to close offices, cut real estate costs  Hewlett-Packard Co. plans to close a number of offices worldwide over the next 4 years May.16   Half Moon Bay Businesses suffer from highway 1 closure  Business people worry about surviving 4 more months with the highway closed to stitch Devil's Slide together

year 2005 Top ^

Dec.12   Stanford Service Workers Stage One-Day Walkout  Thousands of workers walked off the job over contract disputes related to wages and health care costs Jul.19   HP Hewlett-Packard cuts 14,500 staff
  HP is to lay off about 10% of its workers over the next 18 months as part of its long-awaited restructuring

year 2004 Top ^

Aug.12   HP 3rd-quarter earnings below expectations  Computer giant reported a 9% jump in third-quarter revenues. An execution by server and storage business is 'unacceptable'

year 2003 Top ^

Aug.19   HP 3rd-quarter earnings miss expectations  Personal systems unit posted a $56 million loss after 2 quarters of profits Feb.21   Palo Alto Agilent to cut 4,000 more jobs
  Maker of test and measurement equipment, will cut 11% of its work force, after posting a wider quarter loss

year 2002 Top ^

Sep.25   HP HP to cut additional 1,800 jobs  The company blamed the reductions on a continued market slowdown and to have a competitive structure

year 2001 Top ^

Dec.4   Redwood City ExciteAtHome will cease in February  Bankrupt company will discontinue high-speed Internet service after reaching a deal with cable partners Nov.15   Palo Alto Agilent to cut 4,000 more jobs  Company is meeting expectations in its 4th quarter Oct.29   Redwood City Openwave to cut 300 jobs  Openwave Systems met reduced expectations in its fiscal first quarter Aug.20   Palo Alto Agilent cutting 4,000 jobs  Company reported a 3rd-quarter loss that was narrower than expected. Shares fell 9% Aug.16   HP HP reports 89% drop in profit  Hewlett-Packard Co. beat Wall Street's dramatically reduced expectations. Shares moved higher Jul.26   HP HP cutting 6,000 jobs
  Hewlett-Packard Co. lowered its sales forecasts yet again and is slashing 6% of work force
Jul.2   Napster Napster goes dark  Napster wants to transform itself into a company for paying customers Feb.12   Napster Court to stop Napster  Company plans to start charging subscription fees by summer



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