Silicon Valley Trip Schedule

Transcription

Business & Technology Club
7th Annual Silicon Valley Trip
2007 Trip Packet
January 3 – 10, 2007
Tepper Business & Technology Club
Silicon Valley Trip, Page 1
Table of Contents
Introductory Information.................................................................................................. 2
IMPORTANT DETAILS .................................................................................................. 2
General Information and Alumni Events.......................................................................... 3
Main Contact List ........................................................................................................... 5
Student Contact Information ........................................................................................... 5
Trip Schedule................................................................................................................. 6
Hotel Information............................................................................................................ 7
Restaurant Guide ........................................................................................................... 9
Company and Event Information/Maps
Verisign (9:30-11:30am)....................................................................................... 14
Visa (1-4pm) ........................................................................................................ 17
Juniper Networks (9-11am) .................................................................................. 20
Apple (2-4:30pm) ................................................................................................. 23
Tepper Alumni Networking (6:30-8:30pm) ............................................................ 26
Intel (9-11am) ...................................................................................................... 27
HP (2-4pm) .......................................................................................................... 30
Sun Microsystems (9-11am, maybe 8:30am start)................................................ 33
EBay (11:30-1:30pm)........................................................................................... 36
IBM (3-5pm)......................................................................................................... 40
Yahoo (9-11am)................................................................................................... 43
Adobe (1-3pm)..................................................................................................... 47
Agilent Technologies (8:30-11:30am) ................................................................... 50
Applied Materials (12:30-1:30 Tentative)……………………………………………….53
KLA Tencor (2-4pm)............................................................................................. 56
Carnegie Mellon Network Night (6:30-8:30pm) ..................................................... 59
Introductory Information
Thank you for taking part in the 2007 Silicon Valley Trip!
Due to some very late arrivals into the San Francisco area, we will not have an official kickoff
meeting and will instead meet prior to our first visit Wednesday morning at Verisign in order to
cover any last minute questions.
This trip includes visiting several companies to learn more about their business, and potential
internship and full-time job opportunities. Additionally, both the Tepper alumni event (Thursday,
January 4, 6:30-8:30pm at the Silicon Valley Capital Club in San Jose) and the Network Night
Silicon Valley (Wednesday, January 10, 6:00-8:30pm at Google’s HQ in Mountain View) will be
fantastic networking opportunities.
Please take time to read over the details of this document and prepare yourself for the
professional company visits. Remember that at all times you are an AMBASSADOR OF
TEPPER!
Important Details!
Please keep a few things in mind:
• Missteps by a few can make us all look bad.
• Be respectful of your classmates by being on time, attentive at presentations, turning
your cell phones and pagers off during visits, and all the other normal professional
expectations.
• PLEASE ARRIVE AT EACH COMPANY LOCATION 20 MINUTES PRIOR TO THE
SCHEDULED VISIT TIME.
• If you previously signed-up for an event or have not made contact with Ed Shelton
regarding an exception, you MUST attend. Part of making a good impression on the
company is showing interest and full attendance. (As a polite reminder – if you cancel
your attendance to any of the events for any reason, you’ll lose your deposit.)
• The company information provided was captured online at http://www.hoovers.com/free/
All content is property of Hoovers and is not intended for any use beyond the educational
purposes of this trip.
Watch out for each other, hit the Silicon Valley as a team and make the most of it for everyone.
Remember that this trip is about finding a job for the near future, and about networking for jobs in
the future. Some of the companies we will talk with do not offer internships or will not offer
internships this year. Next year, however, they may have just the job you want, so follow the
COC’s advice about networking and keeping in touch with your contacts.
General Information
Schedule
We have an extremely full schedule that at times involve 3 company visits per day. PLEASE
ALLOW FOR EXTRA TRAVEL TIME AND ARRIVE AT EACH COMPANY LOCATION 20
MINUTES PRIOR TO THE SCHEDULED VISIT TIME. We plan to enter each company as a
group shortly before the scheduled time and should you be late, you will not be allowed to attend.
Late arrivals reflect very poorly upon the school.
Researching and Knowing the Companies
Part of making a great impression on these companies and enhancing Tepper’s reputation is
taking the time to learn more about the companies. By attending this trip, you are already taking
steps in the right direction towards building a relationship with these companies and perhaps your
future employer. But you can also do more to further your experience by taking the time to
research and learn more prior to the visits. We expect you at minimum to take the time to read
the summaries in this packet, but we strongly encourage you do some research on your own.
You will surely get more out of the visits!
Additionally, think of some knowledgeable questions to ask each company, its employees, and
alumni. We have attempted in each case to provide some questions just in case, but you
shouldn’t just rely on those. There is such a thing as a “bad” question on these trips. Although
this trip can be considered a possible inlet towards getting an internship or a full-time position, the
primary goals are to learn more about the companies, network (!), and build relationships.
Remember to follow similar rules for asking questions as you do, when you attend the COC
company events.
Examples of “bad” questions:
• What does your company do? (Other variations: What products or services do your
companies provide? What’s your company’s main business?)
• Who’s your CEO?
• Does your company have internship positions?
• Does your company hire international students?
A rule-of-thumb: If you can find an answer to your question on the Internet, don’t ask it!
A suggestion: If you think of a question and wonder if it’s a “bad” question, run it by a fellow
classmate first!
Dress
Dress for all scheduled events on this trip is business casual, but we recommend that you bring a
suit, especially if you have an interview scheduled.
Accommodations
Most of the companies we are visiting are in the San Jose area. We strongly recommend you
stay in San Jose/Mountain View instead of San Francisco, as San Francisco traffic can be very
congested. You are free to stay where you want. Recommended hotels include the Holiday Inn
San Jose (1740 North First Street, San Jose, Ca 95112, 408-793-3300)
What to Bring
•
•
•
•
•
A Suit – Just in Case
Business Cards (more than you think you need)
Printed resumes – Even though we have emailed everyone’s in advance and will have them
on the CD (which will be left with each company) it never hurts to have a few copies.
A map of the San Jose and San Francisco area
Your Tepper Faux Leather Folder, or similar
Alumni Events
We highly encourage you to attend the alumni events that will occur during this trip (the Tepper is
mandatory unless you have been offered an exception). Both events are great networking
opportunities and give us an opportunity to learn about what Carnegie Mellon University alumni
are doing. John Sengenberger, Director of Alumni Relations at Tepper, will attend along with
representatives from the Career Opportunities Center.
For up-to-date info on all events go to
http://alumni2.tepper.cmu.edu/alumniweb/alumnichapters/sandbox/events.asp?prefix=SF
Tepper Alumni BioPharma/Healthcare Dinner
Event Date: 1/4/2007 7:00- 9:00 p.m.
Location: Mr. Fongs Seafood Restaurant
Advance registration required
The San Francisco Bay Area Alumni Chapter of the Tepper School of Business at Carnegie
Mellon will be hosting a special dinner for alumni in the BioPharma, healthcare and life
sciences on Thursday, January 4, 2007 at 7:00 p.m. Mr. Fongs Seafood Restaurant, 949A
Edgewater Blvd. in Foster City.
Directions: Mr. Fongs Seafood Restaurant, 949A Edgewater Blvd., Foster City, CA
Tepper Alumni Networking Event
Event Date: Thursday, January 4, 6:30-8:30 pm
Location: Silicon Valley Capital Club
50 W. San Fernando St., 17th Floor
San Jose, CA 95113
Room TBD
Phone:
408.971.9300
The event provides an excellent opportunity to network with some of our alums that have
successful careers in the Silicon Valley, to hear the networking strategies they recommend,
and learn about their career paths. This format fits nicely with the larger Network Night Silicon
Valley event at the tail end of the trip.
Carnegie Mellon Network Night San Francisco Bay Area - Silicon Valley
Event Date: Wednesday, 1/10/2007 6:30 – 8:30 p.m.
Location: The Googleplex (cosponsored by Google)
1600 Ampitheatre Parkway
Mountain View, CA
Network Night Silicon Valley is an informal reception designed to provide a convenient forum
for alumni and graduating students to meet Carnegie Mellon affiliated employers. Students
and alumni will receive a booklet that includes information on the companies represented.
Additionally, attendees will have the opportunity to meet informally with the company
representatives and schedule possible future discussions. Whether you are interested in
immediate career opportunities in this area, want to learn about some exciting employers in
the Bay Area for future consideration, or just want to meet fellow alums and some current
students and network a little, this event was designed for you!
To register or find further information, please go to:
http://alumni.cmu.edu/networknights/networknightsv.htm
The $15 on-line registration cost includes appetizers and refreshments. Due to space
limitations, reservations will be capped at 250. Please RSVP by Friday, January 5. Note: In
the event that registration capacity is reached before January 5, registration will close at that
time.
Main Contacts
Name
Chad Eckhardt
Ed Shelton
Siva Ramesh Seela
Phone
(949) 306-9189
(203) 273-5030
(650) 888-7719
Email
[email protected]
[email protected]
[email protected]
Name
Stephen Rakas
John Sengenberger
John Mather
Phone
(412) 708-4440
E-mail
[email protected]
[email protected]
[email protected]
.
Student Contact List
First Name
Anand
Jason
Chad
James
Jeremy
Matthew
Vinay
Ye
Dusko
Lawson
Haggai
Chi Hung
Ido
Minhei Allison
Vikash
Jitendra
Ramesh
Edward
Curtis
Nathan
Last Name
Banwasi
Czapla
Eckhardt
Fu
Glassenberg
Huberty
Jain
Jin
Koncaliev
Lau
Levi
Lin
Mittelman
Park
Priyadarshi
Satwase
Seela
Shelton
Stratman
Ward
Email Address
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
Year
P08
F08
P08
F08
F08
F08
F08
F08
F08
F08
F08
F08
F08
F08
F08
F08
F08
F08
F08
P09
Phone Number
(412) 973-2161
(412) 904-2141
(949) 306-9189
(512) 762-6993
(847) 269-8641
(513) 484-0443
(847) 561-1718
(412) 728-2418
(765) 939-4011
(412) 251-6951
(412) 779-9476
(412) 330-8060
(412) 965-5040
(412) 728-5213
(412) 478-6625
(408) 398-1579
(650) 888-7719
(203) 273-5030
(816) 916-5416
(412) 816-0148
Silicon Valley Trip Schedule
These times are subject to change. We’re still finalizing some of the details. If something big
comes up, we’ll call or email you at your preferred email address. Please plan to arrive at each
company 20 minutes prior to the scheduled time. Additionally, drive times are
approximate and do not account for inevitable traffic delays.
Hotel Information
Holiday Inn San Jose
1740 North First Street
San Jose, Ca 95112
Hotel Reservations: 1 888 HOLIDAY (888 465 4329)
Hotel Front Desk: 408-793-3300
www.holidayinn.com
(Average Nightly) Rate: $69.00
Directions from San Jose Airport to Holiday Inn San Jose
Directions from San Francisco Airport to Holiday Inn San Jose
San Jose Restaurant Guide
Taken from: http://www.metroactive.com/dining/silval/
Prices
$: Most entrees under $10
$$: Most entrees $10-$25
$$$: Most entrees over $25
Greater San Jose
Amato's Restaurant
Sandwich shop. $. The sandwiches make for greasy,
sloppy, ferociously delicious eating. There are 34
varieties, categorized in three groups: hot, cold,
specialty. 1162 Saratoga Ave, San Jose, CA.
408.246.4007.
Apatzingan Mercado Y Taqueria
Mexican. $. This authentic Mexican market and
taqueria serves wholesome renditions of basic Mexican
favorites. Menudo is fresh on weekends. Goat, roast
pork, chile verde are specialties of the hustling little
annex to the store. Large quantities of meat and soup
can be packaged for takeout. Weekends hop with lively
activity. 542 S. Bascom Ave. 408.279.4333.
Bella Mare
Italian. $$. A strip mall setting does little justice to Bella
Mare's hearty homestyle Italian dishes. Classics like
gnocchi and linguine give a strong showing, and the
meat entrees come generously sized. Closed Mon. 241
Woodard Rd. 408.371.4138.
Cao Nguyen
Vietnamese, Chinese-Vietnamese. $. Gargantuan
menu features nearly 200 Vietnamese menu options,
including smoked duck, sautéed frogs and claypot
catfish. Casual. 2549 S. King Rd, #A-16, San Jose, CA.
408.270.9610.
Citronelle
California Vietnamese. $$$. Every dish is a miniature
garden at the reinvented Citronelle. A well-formed wine
list complements fresh ingredients in innovative dishes
such as wok'd cubes of Niman Ranch filet mignon or a
seafood melange in red coconut curry. The décor is
citrus-chic. Lunch and dinner; closed Sun. 826 S.
Winchester Blvd. 408.244.2528.
Cocola
French bakery. $. With a chic, sleek interior that
matches Santana Row's Euro stage set, Cocola is a
fine place to while away an afternoon sipping tea and
sampling a pear tart with vanilla custard and slivered
almonds. For heartier fare, try the gourmet sandwiches.
333 Santana Row #1045. 408.551.0018.
Di Da
Vietnamese vegetarian restaurant. $. Quick, friendly
service and a comprehensive menu, with food that's
simple, low-key and homey. Not too hot, not too salty,
not too spicy. The jackfruit salad is surprisingly fresh,
sided with a chile-tamarind sauce. 2597 Senter Rd, San
Jose, CA. 408.998.8826.
Di Lac Cuisine
Vegetarian Asian restaurant. $$. A bite of veggie
heaven. The spacious Di Lac serves up an appetizing
array of foods all of which are made fresh daily,
including the soymilk and tofu. Closed Wed. 1644 E.
Capitol Expwy, San Jose, CA. 408.238.8686
Dynasty Chinese Seafood Restaurant
Gourmet Chinese. $$. Huge tanks of lobsters, crabs,
various fish and shellfish line one wall. The setting is fit
for royalty, and there's a menu to match: lobster with
special sauce, Peking duck, emerald-colored mustard
greens, even suckling pig. Or try the more delicate fare:
dim sum every midday. 1001 Story Road, 2nd Floor.
408.286.6668.
Eight Forty North First
Contemporary American restaurant. $$$. Eight Forty
North First showcases a veritable theme park of
American cuisine: pastas, seafood and a procession of
grilled meats. Casual. Full bar. Closed Sun. 840 N. First
St, San Jose, CA. 408.282.0840.
Fish Market
Seafood. $$$ This latest terrific-looking member of the
dynasty attracts lines of customers to its bars--wine,
sushi, oyster--with an extensive menu of fresh seafood.
Luscious desserts too. Full bar. 1007 Blossom Hill Rd,
San Jose, CA. 408.269.3474.
Flower Flour
French bakery. $. Like Vianne, the wandering shop
owner in the movie Chocolat, Flower Flour's Mimi
Brown has chosen to grace a small town with her
decadent inventions. The flower shop/bakery charms
visitors with freshly made to-drool-for pastries, ready-togo sandwiches and service with a smile. 896 Willow St.
408.279.0843.
Frankie, Johnnie, & Luigi Too!
Family Style Italian restaurant. $$. Traditional ItalianAmerican favorites-spaghetti and pizza--served in
ambience with plenty of elbow room and garden
qualities. Big portions and wholesome family-style
service. 5245 Prospect Road, San Jose, CA. Full Bar.
408.446.9644.
Fratello
Italian restaurant. $$. Bursting with simple flavors,
Fratello transcends the ordinary dining experience by
glowing with a rosy hue of authenticity that piques the
appetite, boasting the attributes of native Italian dining
without affectation. 1712 Meridian Ave, San Jose, CA.
408.269.3801.
Giorgio's
Family-style Italian dining. $. Simple Italian cooking--the
rugged kind with Southern Italian leanings, full of robust
flavors and tangy tomato sauces. Boasts one of the
best pies in town. Great food, generous portions and
fair prices. Open daily. 1445 Foxworthy Ave, San Jose,
CA. 408.264.5781.
Gojo Ethiopian Restaurant
Ethiopia restaurant n. $. Simplicity reigns here; just
Ethiopian food--chicken, beef, lamb, vegetarian--and
Ethiopian coffee. The flavors taste even better with
honey wine. Beer, wine. Closed Sun-Mon. 1261 W. San
Carlos St, San Jose, CA. 408.295.9546.
Govea's
Mexican. $. A community hub that serves up
wonderfully fresh, old-fashioned Mexican food with no
trendy gimmicks. Both the restaurant and the food are
wholesome and filling. Open daily. 1996 Tully Rd, San
Jose, CA. 408.270.0973.
Habana Cuba
Cuban. $$. A culinary oasis full of good flavors, Habana
Cuba exudes cultural delights. Sensuous foods of the
Caribbean and Cuba, long on tomato and peppers,
slow-roasted meats and earthy black beans. Closed
Sun. Beer & wine. 238 Race St. 408.998.2822.
Hukilau
Hawaiian. $$. Hukilau is a prime example of true
Hawaiian: simple, slightly salty, stomach-filling foods
with an Asian Pacific attitude. "Local food attitude"
means all daily specials come with a scoop of macaroni
salad and steamed rice. Skip the quesadilla and nachos
and head straight for the ahi poke. Live music on
weekends, with tropical drinks to match. 230 Jackson
St. 408.279.4888.
Jasmine Alley
Chinese. $$. Finely crafted northern Chinese
specialties hit the table without overwhelming spicy
intrusions. Eggplant in Hot Garlic Sauce and Beijing
Honey Tenderloin define the skilful style of this kitchen.
4632 Meridian Ave. 408.723.2598.
Kien Giang
Vietnamese restaurant. $. Home-style cooking and
courteous service distinguish this diner. Especially
notable are the steamed live prawns and the renowned
salt-fried spareribs. Casual. Beer, wine, brandy. 2060
Tully Rd, San Jose, CA. 408.270.4350.
Krung Thai
Thai restaurant. $. Located across from the movie
theaters, this handsome restaurant specializes in fullbodied Thai cuisine, such as pineapple fried rice, hot
pompano and garlic eggplant. Bargain lunches draw a
devout crowd. Casual. Beer, wine. 640 S. Winchester
Blvd, San Jose, CA. 408.260.8224.
Kubota
Japanese restaurant. $$. A beautiful dining room that
serves exquisite rice, lucious ribs and decent sushi. Full
bar. 593 N. Fifth St, San Jose, CA. 408.279.8440.
Le Papillon
Contemporary French. $$$$. Once inside, mid-town
traffic feels a million miles away. And the food
presentation matches up to the restaurant's namesake,
seen in butterfly portraits around the room. Full bar. 410
Saratoga Ave, San Jose, CA. 408.296.3730.
Lou's Village
Seafood restaurant. $$$. A variety of Pacifc and
Atlantic seafood delights have kept patrons coming
back for more than 50 years. Huge parking lot and large
banquet rooms. Full bar that's loaded with sports
collectibles. 1465 W. San Carlos St, San Jose, CA.
408.293.4570.
Mount Hamilton Grandview
Cowboy Continental. $$$. Perched high above the
Santa Clara Valley, the Grandview is an old school
roadhouse with an atmosphere that is warm and alive.
Add dishes like surf and turf, rack of lamb chasseur and
chicken Cordon Blue, and servers who are characters
themselves, and you've got yourself a destination.
Closed Mon. & Tue. 94 Mt. Hamilton Rd, San Jose, CA.
408.251.8909.
Mr. BBQ
BBQ (informal, despite the "Mr."). $. Mr. BBQ recalls
the heady season of backyard grilling with its redchecked tableclothes and matching wallpaper trim. The
BBQ, however, is firmly located in the kitchen,
dispensing falling-off-the-bone pork ribs, and crispskinned chicken. Side dishes and Vietnamese rice
dishes also available. Closed Mon. 1711 Branham Lane
(in strip mall). 408.266.1855.
Orlo's
New American cuisine. $$$. On the lush grounds of the
historic Hayes Mansion, this is one beautiful, luxurious
dining room, with menu and excellent service to match.
Hayes Conference Center, 200 Edenvale Ave, San
Jose, CA. 408.226.3200.
Pizza Antica
Uptown Pizza. $$. As you may have guessed, in the
parlance of Santana Row, pizza is far from ordinary.
The stony ovens of Pizza Antica turn out thin-crusted
designer pies with gourmet toppings in casual environs.
Fine pasta and meat dishes also available. Open daily
for lunch and dinner. 334 Santana Row, Suite 1065.
408.557.8373.
President Restaurant
Mongolian BBQ. $. This mom-and-pop eatery gears itself
toward the common man with the uncommonly large
appetite. Thrown into the bargain is a Chinese steam-table
buffet. 1190 Hillsdale Ave, San Jose, CA. 408.978.7188.
Red Sea Restaurant
Ethiopian restaurant. $. In a nicely converted Craftsman
home, the Red Sea presents the soft vegetable stews,
legumes and spicy meats of this north African region.
Beer, wine. Closed Sun. 684 N. First St, San Jose, CA.
408.993.1990.
Red Tractor Cafe
Midwestern farmhouse. $. Down-home favorites, from
mac 'n' cheese to pork chops and applesauce, with
distractions for the kids--and cheap, too. 1320 El Paseo
de Saratoga, San Jose, CA. 408.374.2222.
Sharky's Fresh Seafood
$$$. Puts out a limited menu of fresh fish cooked
straight and simple. Salmon, ahi, catfish, steamed
clams, clam chowder are prepared without fanfare.
Flavors reflect freshness and quality. Quarters are tight,
but comfortable. Full bar in back. 1151 Lincoln Ave.
San Jose (Willow Glen) 408.279.0996.
Siena Mediterranean Bistro
Mediterranean. $$$. Tucked into picturesque Willow
Glen, this tiny bistro offers big tastes. Entrees such as
Moroccan Cornish game hen, venison medallions and
seasonal risotto battle for your appetite with a bread
pudding dessert worthy of the hall of fame. Patio dining
available. 1359 Lincoln Ave. 408.271.0837.
Sonoma Chicken Coop
Mixed. $. Ordering at the counter is the order of the day
at the Chicken Coop, but if you don't mind carrying your
own tray and fighting for a table you'll be rewarded with
hearty spit-roasted chicken that requires at least six
napkins. Pasta, Wine Country duck and hockey-themed
desserts round out the menu. 31 N. Market St. at San
Pedro Square. 408.287.4098.
Straits Restaurant
Asian Fusion. $$$. By night it's a jam-packed hipster
clubhouse; by day it's Singaporean chef Chris Yeo's
latest chic fusion venue. Small plates such as roti prata,
a griddled flatbread with curry dipping sauce, share the
menu with entrees such as the lobster and shrimp pad
thai. Outdoor seating is available. 333 Santana Row
#1100. 408.246.6320.
Sushi Boat
Sushi bar/Japanese specialties. $. With a dÈcor that is
upbeat and sophisticated and sushi that is as dazzling
as handmade jewelry, Sushi Boat walks on water! Open
daily. 1600 Saratoga Ave., #119, San Jose, CA,
Westgate Mall. 408.378.4000.
Three Flames Restaurant
Continental restaurant. $$. One of five remaining
restaurants owned by three brothers. The menu is
enormous; among the best choices are scampi, lamb
and pepper steak. Casual. Full bar. 1547 Meridian Ave,
San Jose, CA. 408.269.3133.
Vin Santo
Italian. $$. A beautifully simple and low-lit dining room
sets the stage for offerings of earthy aromas, bold
sauces and well-seasoned market-fresh meats and
produce--from antipasto to Chilean sea bass to rack of
lamb. An extensive wine list plays host nearly as well as
the informative servers. 1346 Lincoln Ave.
408.920.2508.
White Rock Cafe
American bistro. $$. An impeccable menu and glorious
cooking--especially by Michiko Boccara on Friday
nights have a cult following. Beer, wine. Closed SunMon. 3116 Alum Rock Ave, San Jose, CA.
408.729.4843.
Yankee Pier
American seafood. $$. Veteran restaurateur Bradley
Ogden brings a bit of Cape Cod to Santana Row, with a
menu ranging from old-fashioned fish and chips to
gourmet oysters and a mouth-watering Maine lobster
roll. Sunday brunch is also available. 378 Santana Row
#1100. 408.244.1244.
Yas
Persian restaurant. $$. In keeping with this ancient
cuisine's traditions, entrees are dressed up with the
clean, fresh tastes of lemon and saffron, and desserts
wear a distinctive hint of rose water. Beer, wine. 1138
Saratoga Ave, San Jose, CA. 408.241.5115.
Downtown San Jose
Agenda
New California. $$. Housed in a downtown landmark,
Agenda features a hip nightclub upstairs, a fullyappointed restaurant at street level, and DJ-ing in the
basement. Entrees include buttery filet mignon perched
atop potato puffs, and roasted chicken ballotine expertly
filled with a sage and chestnut mousse. Full bar. 399 S.
First St, San Jose, CA. Closed Sun-Mon.
408.287.3991.
A.P. Stump's
New American. $$$$. If Jules Verne had designed a
restaurant, this would be it. The setting is gorgeous and
the entrees are perfection. Wine list is deep in the best
California reds. Full bar. 163 W. Santa Clara St, San
Jose, CA. 408.292.9928. --> Book a table online.
Arcadia
New American. $$$$. A spacious oasis for those with a
few expense accounts to rub together, Arcadia offers
witty play on American regional classics. Cute menu
titles, like the "meat & potatoes," translate to complex
sauces with some dazzling flavor moves. Open daily for
breakfast, lunch, dinner. 100 W. San Carlos, in the San
Jose Marriott. 408.278.4555.
Bella Mia
Italian-American. $$$. One of downtown San Jose's
most attractive eateries, Bella Mia serves regional
dishes with flair. Full bar. 58 S. First St, San Jose, CA.
408.280.1993. --> Book a table online.
Blake's Steakhouse
American steakhouse. $$$. The lavishly portioned
dishes streaming from the kitchen here pack a load of
flavor. Juicy and succulent steaks abound and, to finish,
Blake's does a very tempting dessert tray. 17 N. San
Pedro Square, San Jose, CA. 408.298.9221
Camera Cafe
Coffeehouse. $. Sharing the lobby of the Camera 3
theater, Camera Cafe offers sandwiches and other fast
entrees, as well as desserts. Beer, wine. 288 S. Second
St, San Jose, CA. 408.998.0932.
Chacho's
Mexican. $. Flowers, murals and friendly servers
provide accompaniment to some of the best chile
rellenos around; lovely flan, too. Closed Sun. 18 S.
Almaden Ave, San Jose, CA. 408.293.1387.
City Bar and Grill
Classic American. $$$. Big-shouldered food in
handsome surroundings is the rule. The steaks are big
and juicy, the pot pies better than Grandma used to
make. Full bar. 300 Almaden Blvd, San Jose, CA,
inside the Hilton. 408.947.4444.
Dalat
Vietnamese. $$. San Jose's second-oldest Vietnamese
restaurant continues to draw those in search of
delicious traditional fare. Ingredients are fresh, spices
aren't shy, and the surroundings are clean and friendly.
Open daily for lunch and dinner. 408 E. William St.
408.294.6989.
E & O Trading Company
Southeast Asian. $$$. You don't have to be a trader to
dine like one. Entrees come on playful serving dishes
and are beautifully spiced with multi-culti flavors, from
Bali to Ceylon and back through Malaysia. Full bar.
Open 11:30am to 10:30pm, until midnight on
weekends. 96 S. First St, San Jose, CA. 408.938.4100.
Emile's
Contemporary French. $$$$. Features white-tablecloth
amenities without the stuffiness, and a first-rate menu
combining classic, nouvelle and minceur cuisines. Full
bar. Closed Sun-Mon. Resv suggested. 545 S. Second
St, San Jose, CA. 408.289.1960.
Eulipia
New American. $$$. The revamped menu emphasizes
robust flavors and beautiful presentations. Several
standouts have been retained from the previous menu,
as have the sexy Eulipia cocktails. Full bar. 374 S. First
St, San Jose, CA. 408.280.6161.
The Grill on the Alley
American grill. $$$$. The Fairmont Hotel's newest
resident is one good-looking destination for power
lunchers, celebrity diners and anybody who needs a
great steak. Full bar. 170 S. Market St, San Jose, CA.
408.294.2244. --> Book a table online.
Hawgs
Seafood. $$$. Next door to the San Jose Rep Theatre,
Hawgs offers simple seafood and convenience for
theatergoers. Mostly shellfish and pasta combinations
are offered; the linguini clams and sautéed scallops are
full of garlic and rich flavors. Closed Mon. 150 S.
Second St. 408.287.9955.
House of Siam
Thai. $. This popular establishment runs the gamut of
Thai treasures. Casual. Beer, wine. 55 S. Market St,
San Jose, CA. 408.279.5668.
Hunan Taste
Hunanese. $. Hunan Taste was the first in the South
Bay to offer real Hunanese cooking. Joanne Song, the
chef and niece of Henry Chung who opened the everpopular Hunan in San Francisco, created a menu that
hums with the spirit of her birthplace, the village of Lile
in the Hunan Province. Spicy, complex, neighborhoody.
Closed Sun. 998 N. 4th Street. 408.295.1186.
Il Fornaio
Regional Italian. $$. Embraced by the graceful Sainte
Claire Hotel, this location (there are several up and
down the coast) transports the diner. The menu
showcases a different region of Italy monthly, and pasta
dishes vie with entrees for mouth-watering attention.
Order the fennel custard. Full bar. 302 S. Market St,
San Jose, CA. Daily for all three meals. 408.271.3366
Inca Gardens
Peruvian; South American. $$. A unique addition to
downtown's bistro glut, Inca Gardens boasts authentic
Andean fare. Casual. Wine, beer. 87 E. San Fernando
St, San Jose, CA. 408.977.0816.
La Pastaia
Contemporary Italian. $$$. Grilled meats and fresh
seasonal vegetables are treated with an unstudied,
almost rustic sense of sophistication. Casual. Full bar.
233 W. Santa Clara, San Jose, CA, in the Hotel de
Anza. 408.286.8686.
Muchos
Mexican. $. A small player with a big rotisserie, this
taqueria cultivates a devout lunch following. All
standards get billing, but the mesquite-roasted chicken
is the star. Beer. 72 E. Santa Clara St, San Jose, CA.
408.277.0333.
Original Joe's
Italian diner. $$. Classy and classic rat-pack-style diner,
featuring tuxedo-clad waiters. From the homemade
chicken soup to the Veal Scaloppini, Sinatra would be
right at home. Full bar. 11am-1am daily. 301 S. First St,
San Jose, CA. 408.292.7030.
Pagoda Restaurant
Chinese. $$$. The cuisines of China share top billing
with the opulence of the decor. Pagoda offers the
gamut of regional all-stars. Dressy. Full bar. Closed
Sun. Fairmont Hotel, 170 S. Market St, San Jose, CA.
408.998.3987.
Palermo Ristorante
Italiano Sicilian. $$$. The restaurant that spawned the
South Bay's epidemic of Sicilian restaurants, Palermo
feeds its patrons authentic Southern Italian specialties
amid a unique collection of memorabilia. Full bar. 394
S. Second St, San Jose, CA. 408.297.0607.
Paolo's
New Italian. $$$$. Filled with artistic spins on Californiameets-Italy, the kitchen turns out elegant entrees
spearheaded by seasonal vegetables. The impeccable
service compensates for the modest portions. Full bar.
333 W. San Carlos St, San Jose, CA. 408.294.2558.
Pasta Pomodoro
Italian. $. Exuberant, inexpensive and fast cuisine made
to order and served with sparkle. High concept and low
costs make Pasta Pomodoro a dream trattoria for
lovers of robust Italian flavors. 1205 The Alameda, San
Jose, CA. 408.292.9929
Scott's Seafood
Seafood. $$$. Culture lovers and power brokers alike
find impeccable sourdough, a sea of marine treats and
other entrees, and a panoramic view (there's a sister
eatery in Palo Alto). For maximum pleasure, get there
at sunset. Full bar. 185 Park Ave, San Jose, CA.
408.971.1700.
Seven
New American. $$. This Silicon Valley hot spot's
magnetic ambiance balances industrial sleek design
with warm fabrics and textures for a casual but hip
dining experience. While the atmosphere is energetic,
the fare is simple and elegant, prepared using classic
French techniques. Full bar. 754 The Alameda.
408.280.1644. --> Book a table online
71 Saint Peter
New American. $$$. This romantic eatery provides
recipes that speak with a slight French accent, from
imaginative appetizers to the always-reliable roast of
the evening. Beer, wine. Closed Sun. 71 N. San Pedro
St, San Jose, CA. 408.971.8523.
Shalimar
Indian. $$. Shalimar opened a few doors down from the
San Jose Museum of Art--a good location for drawing in
diners in search of a generous and tasty buffet ($8.95).
Vegetarian and clay-oven specialties are featured. 167
W. San Fernando St. 408.971.2200.
Spiedo Ristorante
Regional Italian. $$$. With its sexy two-story interior,
Spiedo brings a sleek presence to the downtown
restaurant scene. Its zesty menu highlights rotisserie
dishes. Dinner nightly; lunch weekdays. Full bar. 151
W. Santa Clara Ave, San Jose, CA. 408.971.6096.
Stratta Grill
Bistro. $$$. This upbeat bistro packs style and culinary
punch into a renovated dining space. The sensuous
menu involves lots of hearty grill updates, lusty pastas
and assertive salads. Casual. Full Bar. 71 E. San
Fernando St, San Jose, CA. 408.293.1121.
Tied-House Cafe
Brewpub. $$. Burgers and California cuisine mix well
with housemade beers. Especially fun during sports
events and happy hour. Casual. Full bar. 65 N. San
Pedro St. 408.295.2739. Also Mtn. View: 954 Villa St,
San Jose, CA. 650.965.2739.
Vegetarian House
Vegetarian. $. This restaurant-cum-temple provides a
slew of spiritual paraphernalia along with a menu
offering vegetarian dishes from around the world.
Casual. 520 E. Santa Clara St, San Jose, CA.
408.292.3798.
Waves Smokehouse and Saloon
Texas BBQ and more. $$. Set in one of downtown's
historical gems, Waves feeds the taste buds with
barbecue, the eyes with an exquisite mahogany and
stained-glass bar, and the ears with live and DJ music.
Casual. Full bar. 65 Post St, San Jose, CA.
408.885.9283.
White Lotus
Vegetarian. $. White Lotus showcases a strictly
meatless and eggless menu, offering a wealth of
dishes. Casual. Beer, wine. Closed Sun. 80 N. Market
St, San Jose, CA. 408.977.0540.
Wing's
Chinese. $. Wing's belongs in an old movie with
gumshoes and low-brimmed hats and cigarette smoke
drifting in dark alleyways. The food is complemented by
an exotic dining room with sequestered seating
equipped with hanging beads and doorbells, and other
miscellaneous peculiarities of a bygone era. Always a
fun place to visit. Open daily. 131 E. Jackson St, San
Jose, CA. 408.294.3303, or 998.9427
Da y 1: Wednesday, January 3
Address:
487 East Middlefield Road
Mountain View, CA 94043
Phone: 650-961-7500
Web Site: http://www.verisign.com
Agenda:
9:30 -11:30 am Presentation, Questions, Tour
Company Information:
VeriSign has vowed to serve and protect network interactions. The company provides telecom carriers and
other enterprise customers with a variety of digital commerce and communication products and services. Its
service offerings address billing and payment, clearing and settlement, content delivery, domain name
registration, Internet security, network connectivity and interoperability, and network databases
interactions. VeriSign's operations are organized into two business units: Internet Services Group and
Communications Services Group. The company sells directly and through resellers, systems integrators,
and affiliate businesses.
Verisign's Internet Services Group encompasses security products and services that allow business to
provide secure Internet transactions, as well as information services including domain name and registry
operations and digital brand management. The company's Communications Services Group provides
telecom carriers with billing and payment, database, network, and messaging services.
The company has used acquisitions to expand past its legacy encryption and digital certificate products into
related fields. A string of purchases in 2005 included LightSurf (messaging services) iDEFENSE (network
security), Moreover Technologies (news aggregation), Weblogs.com (blog tracking), and Retail Solutions
(point-of-sale tracking). VeriSign's acquisition tear has continued in 2006. It purchased Web-based billing
and client management software company CallVision for $30 million in cash, as well as m-Qube, a
developer of software for delivering content and connectivity services to wireless subscribers. The
company bought Kontiki for $62 million. Kontiki offers technology that speeds up large downloads on the
Internet. It also acquired Internet transaction security specialist GeoTrust for $125 million in cash in 2006.
The company sold its payment gateway business to Pay Pal, a subsidiary of eBay, for $370 million in 2005.
In 2006 News Corporation agreed to acquire a majority stake in VeriSign's Jamba unit for $188 million.
Jamba, which VeriSign acquired in 2004, provides ringtones and other wireless content.
Stock Price (1 Year Chart) and Competitor Comparison:
VRSN
ENTU
Pvt1
SYMC
Industry
Market Cap:
5.84B
256.05M
N/A
19.56B
Employees:
4,076
475
1,2821
16,000
309
-11.90%
1.60%
N/A
19.50%
23.00%
Qtrly Rev Growth (yoy):
306.01M
1.56B
91.94M
310.10M1
4.91B
115.95M
65.68%
62.08%
N/A
83.70%
60.27%
414.04M
-3.39M
N/A
1.51B
8.40M
11.39%
-7.09%
N/A
12.51%
-2.76%
425.25M
-10.31M
42.40M1
427.77M
-432.77K
2.693
-0.172
N/A
0.402
N/A
P/E (ttm):
8.93
N/A
N/A
51.87
39.48
PEG (5 yr expected):
1.65
N/A
N/A
1.44
1.36
P/S (ttm):
3.76
2.79
N/A
4.07
2.70
Revenue (ttm):
Gross Margin (ttm):
EBITDA (ttm):
Oper Margins (ttm):
Net Income (ttm):
EPS (ttm):
ENTU = Entrust Inc.
Pvt1 = RSA Security Inc. (privately held)
SYMC = Symantec Corp.
Industry = Internet Software & Services
1
= As of 2005
Questions:
• What do you see as VeriSign’s greatest strength?
• What qualities do VeriSign look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at VeriSign?
• This question is for each of the presenters, how would you describe your typical day?
• Is there any advice you would like to share with us as we continue through business school?
•
Microsoft is requiring “an extended-validation certificate” in order to mark a website as “safe.”
To qualify for this certificate, VeriSign will be required to make extensive checks in order to
approve this certificate.
o What are thoughts on this development?
o How is VeriSign going to handle the extra costs that will come along with these extensive
checks?
Interesting Facts:
• Kriens, Juniper's CEO for the past decade, also sits on the board of VeriSign Inc
• Kriens joined VeriSign's board in 2001, eight months after VeriSign's chief executive, Stratton
Sclavos, became a Juniper director.
Related Article:
Extensive Checks Required for Web Seal
Sunday December 24, 2:20 pm ET
By The Associated Press
Extensive Checks Required to Obtain `safe' Web Seal for Microsoft Browser
Beginning next month, version 7 of Microsoft Corp.'s Internet Explorer browser will start flagging certain
e-commerce and banking sites as green for "safe." The browser will look for an extended-validation
certificate issued by any number of vendors.To qualify, vendors such as VeriSign Inc. and Comodo will be
required to make extensive checks before approving such certificates. They also will have to undergo
independent auditing through WebTrust, a service run by trade groups for certified public accountants.
Under the latest, 65-page draft guidelines, verification requirements include:
•
•
•
•
•
Legal existence and identity. The certificate vendor must make sure that the business is legally
recognized and that the formal name matches government records, through databases and other means.
The vendor also must verify any alternative operating names that differ from the legal name.
Physical existence. The vendor must check government records to make sure addresses in those
records and in the certificate application match. When there is no match, a site visit is required,
documenting such things as whether a permanent sign is present and whether the office is more than a
mailbox. Photos are required showing the site's exterior and the interior reception area or workspace.
Telephone number. The vendor must verify that the phone number provided is the primary one for the
business, using such techniques as calling it directly and checking phone directory listings. In some
cases, the vendor must make sure the main phone number is not a mobile phone.
Domain name. To ensure the business owns and controls the domain name, the vendor must use
techniques such as checking registration records, known as the Whois database, and asking the
company to make an agreed-upon change to the Web site under that domain name
Individual's authorization. The vendor must verify that the individual requesting the certificate works
for the company -- for instance, by contacting its human resources department. The vendor must also
verify the individual's authority to make the request, generally by obtaining written documentation.
For some verifications, exemptions are permitted with a letter from a lawyer, notary or accountant. The
guidelines include procedures for verifying authenticity.Businesses in existence for less than three years
may be required to also produce evidence they have a valid bank account. Additional checks are required
for banks and other companies deemed to be high-risk targets for scams.
Because many of the steps rely upon government filings, general partnerships, unincorporated associations,
sole proprietorships and individuals are currently barred from getting these certificates. For that reason, a
consortium of certificate vendors and browser makers rejected the draft in November, although Microsoft
and some vendors believe the standards are good enough to proceed anyhow.
Address:
901 Metro Center Blvd.
Foster City, CA 94404
Agenda:
Meet in lobby of 901 Metro Center
1-4pm: Presentation, Questions, Tour
Paper or plastic? Visa International hopes you choose the latter. Visa operates the world's largest consumer
payment system (ahead of MasterCard and American Express) with more than 1 billion credit and other
payment cards in circulation. The company is owned by some 20,000 member financial institutions, which
issue and market their own Visa products and participate in the VisaNet payment system (authorization,
transaction processing, and settlement services). Visa also provides its customers with debit cards, Internet
payment systems, value-storing smart cards, and traveler's checks. Visa has announced plans to restructure
and create Visa, Inc., a new, publicly traded company.
Visa Inc. will be created by the merger of Visa International, Visa Canada, and Visa U.S.A. , along with
regional organizations Visa Asia Pacific; Visa Central and Eastern Europe, Middle East and Africa
(CEMEA); and Visa Latin America and the Caribbean (LAC). Visa Europe, which is owned and managed
by its European member banks, will become a licensee of Visa Inc.
Visa is accelerating its push to introduce chip cards over magnetic stripe technology; the technology is
catching on much faster overseas than it is in the US. The company also has some 2,000 prepaid card
programs in 30 countries and has begun offering government-issued cards for social benefits.
Questions:
• What do you see as Visa’s greatest strength?
• What qualities do Visa look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at Visa?
• What are your opinions on the recent restructuring and upcoming IPO?
Related Articles:
Visa IPO Should Speed Innovations in Payments
Rivalry With MasterCard Will Encompass Investors, Acquisitions, New Services
By ROBIN SIDEL
October 12, 2006; Page A3
The transformation of Visa into a public company is likely to accelerate
innovation in the electronic-payments industry, which already is racing to
find new ways for consumers to pay for goods and services.
Visa's planned initial public offering, announced yesterday, also will
intensify its rivalry with newly public MasterCard Inc. After years of battling
MasterCard at the cash register, Visa will now find itself competing for
investors, acquisitions and partners, as well as new products and services.
"Over the next five to 10 years, there will be a very radical change in the
payment-card landscape that will ultimately affect every player in this
business," said David Evans, founder of consulting firm Market Platform
Dynamics and author of the book "Paying with Plastic: The Digital
Revolution in Buying and Borrowing."
Visa, now owned by more than 20,000 financial institutions around the world, said it will sell a majority
stake to the public in an offering that will take place in 12 to 18 months. The move, which comes about a
year after MasterCard announced similar plans, is expected to free Visa to form new alliances and become
less dependent on its bank owners.
Craig Maurer, an analyst at research firm Soleil Securities, estimated Visa could be valued at $12.5 billion,
higher than MasterCard's market value of nearly $9.4 billion. "Without a doubt, it will have a premium to
MasterCard," he said, because of its dominant position. Visa has begun searching for a chief executive to
lead the new unified entity, to be called Visa Inc. Visa's decision prompted little surprise among industry
analysts and investors, partly because Visa USA Inc. last year overhauled its board to include a majority of
independent directors -- a move that led to speculation that the payments concern might pursue an IPO.
Before going public, Visa will have to unravel its unusual structure, which has long been considered
unwieldy. It is currently divided into six geographic groups that operate under an umbrella entity known as
Visa International. The new company will include all of those regions except for Europe, which will
operate as a minority stockholder in the larger company. The European entity will remain separate, because
the European Union is in the midst of creating a unified payment network, across national borders.
The move to public ownership means that Visa will be required to report more financial data than it has
done in the past. For its fiscal year ended Sept. 30, 2005, Visa reported net income of $325 million on
revenue of $4.01 billion for all of its global entities. The company as a whole doesn't report quarterly data.
"This is part of an ongoing evolution that will ultimately be a key part of accelerating our growth and, in
turn, give further reinforcement to our market-leadership position," said William Campbell, chairman of
Visa International's board.
Already the electronic-payments industry is introducing innovations such as mobile payments through
cellphones and checkout counters that simply read a fingerprint. Visa dominates the payments industry and
has aggressively pursued new forms of payment, particularly in the fast-growing business of debit cards,
which are linked directly to bank checking accounts. Like MasterCard, it also has been at the forefront of
the industry's recent move toward "contactless" cards, which don't require a swipe at the register or a
signature. The card brands are also trying to boost business-to-business electronic payments, and to further
penetrate the market for cash and checks.
Last year, Visa rang up more than $4 trillion of transactions on more than 1.4 billion branded cards around
the world. Purchases on its general-purpose credit cards represented 60.3% of the global credit-card market
last year, compared with 26.9% for MasterCard, according to the Nilson Report, which tracks industry data.
American Express Co. has a global market share of just over 11%. Visa and MasterCard don't issue cards,
set interest rates or directly interact with cardholders. They operate the networks on which electronic
transactions are processed, and brand the cards that are issued by financial institutions.
Visa and MasterCard also set the fees that banks charge to merchants for accepting and processing the
payments. Merchants have sued Visa, MasterCard and the banks over those fees, charging them with
colluding to set the rates. Visa and MasterCard both hope that eliminating their bank-ownership structure
will help to quell the contention from merchants that they act in tandem with the financial institutions.
Visa's strong financial position is expected to result in solid investor demand for its stock. That has
certainly been the case for MasterCard, which went public at $39 in May and has since traded as high as
$75.85. Public shareholders own 49% of MasterCard, based in Purchase, N.Y., with the rest owned by
former bank owners and a charitable foundation that was established by the payments company. Visa said
that its plan wasn't tied to the recent strong performance by MasterCard's shares. "We salute MasterCard,
but this is about Visa flying its new global flag," said Mr. Campbell.Still, the run-up in MasterCard's stock
"lends credence to the fact that this is a way for Visa to create some value for their bank investors," says
Peter Kovalski, bank analyst at Alpine Mutual Funds.
Yesterday's announcement from Visa took some steam out of MasterCard's share price, which dropped
$2.41 to $69.50 in 4 p.m. composite trading on the New York Stock Exchange. Shares of American
Express, meanwhile, slipped 21 cents to $57.45, also on the NYSE.
MasterCard took a shot yesterday at Visa's geographic structure, saying that "as a unified entity in Europe
and throughout the world, we have a competitive advantage in being able to partner with our global
customers by providing innovative payments programs wherever they operate."
Da y 2: Thursday, January 4
Address:
1194 N. Mathilda Ave.
Sunnyvale, CA 94089
Phone: 408-745-2000
Web Site: http://www.juniper.net
Agenda:
9-11am Presentation, Questions, Tour
Juniper Networks has experienced impressive growth in a market where Cisco trims most competitors. The
company designs and sells Internet Protocol (IP) routers for private and public access networks. Juniper
also designs the application-specific chips (manufactured by IBM and Toshiba) that control its routers. The
company outsources other manufacturing to contractors such as Celestica. Other offerings include network
traffic management software, virtual private network (VPN) and firewall devices, and support services.
Juniper sells directly and through resellers to network service providers, enterprises, government agencies,
and schools.
Juniper's technology has opened a market long dominated by rival Cisco Systems and helped it make
significant inroads into the powerhouse's market share. Juniper is among a number of companies that have
touted superior technology to differentiate their offerings, but it designs its equipment to be compatible
with that of the ubiquitous Cisco.
The company expanded its router line with the acquisition of Siemens' Unisphere Networks subsidiary in
2002; the deal included an agreement that lets Siemens resell Juniper's products. It also has reseller
agreements with telecom equipment maker Ericsson, and it counts Ingram Micro and NEC among its
distribution partners.
Juniper has traditionally catered to Internet and telecommunications service providers, but the company
continues to expand its offerings for the enterprise market. Its 2004 purchase of NetScreen Technologies
(more than $3 billion in stock) added virtual private network (VPN) and firewall products to its portfolio.
Juniper also released a line of edge routers designed for corporate networks that year. In 2005 the company
acquired Kagoor Networks, a developer of session border control (SBC) systems, for approximately $68
million. Shortly after Juniper purchased two companies with products designed to improve network
performance: Redline Networks (about $132 million), and Peribit Networks (approximately $337 million).
Juniper also acquired network migration specialist Acorn Packet Solutions, and network access application
developer Funk Software.
Products from NetScreen, Kagoor, Redline, Peribit, and Funk now make up Juniper's Service Layer
Technologies (SLT) operating unit. Its other units include Infrastructure (Juniper's original router line and
Acorn products) and Services (consulting, support, and training.
Top Competitors:
Alcatel-Lucent
Cisco Systems
Nortel Networks
Questions:
• What is Juniper’s long-term plan to gain market share in the Networking device industry?
• What is the organizational culture of various business divisions at the company?
Related Articles:
Juniper Networks is #2 for Revenue in Overall Network Security Market
Monday December 11, 8:00 am ET
Infonetics Research Recognizes Juniper Networks as a Leader in SSL VPN, High-End
Firewall, High-End Enterprise Routing and Secure Routing
SUNNYVALE, Calif.--(BUSINESS WIRE)--Juniper Networks, Inc. (Nasdaq:JNPR - News) today announced
that it continues to be the second-largest security vendor in the industry by reported company revenue, according
to Infonetics Research, Inc.'s recent report titled, "Network Security Appliances and Software Quarterly
Worldwide Market Share and Forecasts for 3Q06." According to the report, Juniper Networks garnered 10
percent revenue market share based on all security product categories tracked in the report during the third
quarter of 2006, while also showing growth within most major product categories in which it participates.
"Juniper has a diverse security product portfolio that appeals to enterprises and service providers of all types,"
said Jeff Wilson, principal analyst for VPNs and security at Infonetics Research. "Many customers are looking
for security solutions that are tightly integrated with networking solutions, and Juniper is one of a small group of
vendors offering a broad security and networking portfolio, which is helping them significantly."
The same report recognized Juniper Networks as the overall market share leader again in the SSL VPN market.
Juniper has been the SSL VPN market share leader since the inception of the market category. Juniper Networks
was also recognized as the #2 leader in high-end firewall and virtual private network (FW/VPN) product
category (greater than or equal to $30,000 price band) during 3Q06. The Juniper Networks high-end
firewall/VPN products include the NetScreen-5000 series, delivering up to 30Gbps high-end firewall and 15Gbps
VPN throughput, and the Integrated Security Gateway (ISG) 1000 and 2000 firewall/VPNs.
In addition, Juniper Networks was also named as the #2 leader in the high-end enterprise routers product
category (high-end enterprise routers are modular and support OC-3/STM-1 and higher speeds) during 3Q06,
according to Infonetics Research, Inc.'s recent report titled, "Enterprise Routers Quarterly Worldwide Market
Share and Forecasts for 3Q06." The Juniper Networks high-end enterprise routers include the M-series M7i,
M10i, M20, M40e, M120 Multiservice Edge routers, which combine best-in-class IP/MPLS capabilities with
unmatched reliability, stability, security and service richness.
To purchase the "Network Security Appliances and Software Quarterly Worldwide Market Share and Forecasts
for 3Q06" report or the "Enterprise Routers Quarterly Worldwide Market Share and Forecasts for 3Q06" report,
please contact Larry Howard at (916) 933-3543 or [email protected].
About Juniper Networks, Inc. Juniper Networks develops purpose-built, high performance IP platforms that
enable customers to support a wide variety of services and applications at scale. Service providers, enterprises,
governments and research and education institutions rely on Juniper to deliver a portfolio of proven networking,
security and application acceleration solutions that solve highly complex, fast-changing problems in the world's
most demanding networks. Additional information can be found at www.juniper.net.
Juniper Networks, NetScreen and the Juniper Networks logo are registered trademarks of Juniper
Networks, Inc. in the United States and other countries. All other trademarks, service marks, registered
trademarks, or registered service marks are the property of their respective owners. This press release
contains specialized projections, statements and data provided by third parties, including Infonetics
Research, Inc. Juniper Networks does not adopt these projections, statements or data, does not warrant or
guarantee the accuracy or completeness of such data or statements and does not undertake or assume any
duty to update them in the future.
Address:
Apple Campus
4 Infinite Loop
Cupertino, CA 95014
(check-in with security at Building 4)
Agenda:
2-4:30pm Presentation, Questions, Tour, Apple Store
Computers are still an important part of its mix, but these days music-related products are at the top of
Apple's playlist. The company scored a runaway hit with its digital music players (iPod) and online music
store (iTunes). Apple Computer's desktop and laptop computers -- all of which feature its OS X operating
system -- include its Mac mini, iMac, and MacBook for the consumer and education markets, and more
powerful Power Mac and MacBook Pro for high-end consumers and professionals involved in design and
publishing. Other products include servers (Xserve), wireless networking equipment (Airport), and
publishing and multimedia software. The company's FileMaker subsidiary makes database software.
Only co-founder, CEO, and Apple crusader Steve Jobs may have expected the level of success the
company's music-related products have enjoyed. In 2003 Apple announced the launch of an online music
service called the iTunes Music Store that lets computer users purchase and download songs for 99 cents
each. Apple has since expanded the offerings to include music videos, audiobooks, television shows, and
other content. The store's catalog, which has helped spur sales of Apple's popular iPod digital music and
video players, includes songs from the five largest record labels, as well as television content from ABC,
NBC, and a number of cable networks. The company has launched international versions of its iTunes
Music Store that serve Canada and European Union countries. Early in 2006 it began offering select
television content on a subscription basis with a service called Multi-Pass. Later that year the company
launched an online movie service, and previewed a device called iTV for watching downloaded content on
televisions.
Since debuting the iPod in 2001, Apple has provided regular updates to the line, including color displays
and and flash memory-based models. Late in 2005 Apple, Motorola, and Cingular Wireless announced the
debut of a mobile phone with iTunes functionality. Apple also unveiled the iPod nano, an updated (and
even smaller) version of its miniature iPod model, as well as an iPod capable of playing video. In 2006
Apple reached a settlement in a dispute with Creative Technology over technology used in digital music
players; Apple agreed to pay the company $100 million in exchange for a license to use Creative's patent
related to navigation and organization.
Once the world's top PC maker, Apple Computer has been relegated to niche status in a market dominated
by "Wintel" machines (computers using Microsoft Windows software and Intel processors). Macintosh
computers run Apple's own UNIX-based operating system. The uniqueness of Apple's computers is a
double-edged sword for the company. The graphical interface and form factor of Macintosh computers
reflect the aesthetic of Jobs, who has long championed the importance of visually attractive, user-friendly
design. The features that distinguish Macs have allowed the company to maintain a loyal following willing
to pay premium prices and overlook any interoperability issues with Windows (a factor that Apple largely
addressed with its OS X operating system). However, Apple's market share has dwindled as prices for
commoditized Windows-based machines continue to fall.
In addition to its proprietary operating system, a traditional differentiator for Apple had been its use of
IBM's PowerPC processors (manufactured by IBM and Freescale). However, in 2005 Apple announced it
would begin incorporating Intel chips into its PC lines. Apple debuted its first Intel-based computers early
in 2006, and it completed the transition across its entire line later that year. The company also released
software that allows its Intel-based computers to run Microsoft's XP operating system.
Apple shares a long and thorny history with Microsoft. Although it provides an alternative to Microsoft's
omnipresent operating system, Apple's relative size and market share restrict its threat to the software
giant's stranglehold. The companies have long maintained a working relationship; the Mac-compatible
version of Microsoft's popular office suite is a key software title for Apple, and Apple has scored crossover
hits with Windows-friendly editions of iPod and iTunes. Soon after Apple released its Safari Web browser,
however, Microsoft announced it would cease development of the Apple version of its ubiquitous Internet
Explorer.
In an effort to boost its appeal among consumers, the company has opened more than 100 Apple retail
stores across the US; it also has stores in Canada, Japan, and the UK. Apple generated 18% of its sales
through its retail channel in fiscal 2006.
The company remains focused on product innovations that solidify its popularity in classrooms, Web
design shops, and graphic arts studios. Apple generated 10% of its revenues in fiscal 2006 through its US
education channel, a market where it has felt increasing pressure, particularly from Dell. While Apple
continues to roll out unique hardware offerings, the company has also looked to software development to
drive sales. Many of the company's multimedia applications -- including iTunes, iMovie, and iPhoto -- are
available for free, but the company charges for bundled versions of its software. Late in 2006 Apple
acquired UK-based Proximity, a developer of software used to manage digital audio and video assets.
AAPL
HPQ
MSFT
72.47B
55.93B
112.07B
293.54B
N/A
N/A
65,200
N/A
71,000
N/A
31.50%
3.40%
7.20%
11.00%
N/A
Revenue (ttm):
19.32B
57.88B
91.66B
45.35B
N/A
Gross Margin (ttm):
29.09%
17.56%
24.41%
82.16%
N/A
2.80B
4.43B
9.66B
19.00B
N/A
12.71%
6.85%
7.39%
39.38%
N/A
Net Income (ttm):
1.99B
2.95B
6.20B
12.94B
N/A
EPS (ttm):
2.271
1.284
2.176
1.251
N/A
P/E (ttm):
37.36
19.54
18.93
23.87
N/A
1.36
1.39
1.31
1.50
N/A
P/S (ttm):
3.58
0.97
1.23
6.50
N/A
Market Cap:
Employees:
EBITDA (ttm):
Oper Margins (ttm):
DELL
DELL = Dell Inc.
HPQ = Hewlett-Packard Co.
MSFT = Microsoft Corp.
Industry =
Questions:
• What do you see as Apple’s greatest strength?
• What qualities do Apple look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at Apple?
Industry
Tepper Alumni Networking Event
6:30-8:30 pm
Address:
Silicon Valley Capital Club
50 W. San Fernando St., 17th Floor
San Jose, CA 95113
Room TBD
408.971.9300
Da y 3: Frida y, January 5
Address:
2200 Mission College Boulevard
Santa Clara, CA 95052-8119
Meet in the Lobby of the Robert Noyce Building
Agenda:
Meet in Main Lobby
9-11am Presentation, Questions, Tour
Here's a key piece of Intel for you: Intel is by far the foremost semiconductor maker in the world. Although
occasional strategic and technical errors have cropped up, Intel remains famous for its superior execution in
all parts of its business, and shows no signs of falling from its lofty perch atop the chip industry. Though
best known for its Pentium and Celeron microprocessors -- about three-quarters of new PCs have them -Intel also makes flash memories (where it has lost its former #1 spot to Samsung) and embedded
semiconductors for the communications and industrial equipment markets. Most computer makers use Intel
processors; PC giants Dell and Hewlett-Packard are the company's largest customers.
While remaining the world's largest semiconductor manufacturer, Intel has been humbled by a series of
events, including increased competition in its core chip business, temporary shortages of chipsets, and
unsuccessful forays into niche markets. The company has responded with aggressive cost cutting, corporate
reorganizations and brand initiatives, and the rollout of new devices meant to re-establish not only its
market lead, but also its manufacturing and technical pre-eminence.
In the wake of operational gaffes early in the 21st century, former CEO Craig Barrett launched
companywide initiatives to refocus Intel on flawless execution. Among other changes, the company
reorganized its communications chips units and R&D operations; terminated the online services (such as
server farms and Web hosting) it had trumpeted not long before; and shuttered or sold some of its many
acquisitions from the years of the tech boom. Barrett won a sterling reputation as Intel's manufacturing
chief before succeeding legendary CEO Andy Grove. Barrett handed over the CEO reins to president Paul
Otellini in 2005. (Barrett succeeded Grove as chairman at that time.) Otellini is just the fifth CEO in the
company's 38-year history, and the first non-engineer.
Responding to reports of lost market share and other problems, Otellini promised financial analysts in 2006
that the company would conduct a comprehensive look at its entire business over three months, leading to a
broad restructuring of the company. He said it would represent the biggest changes at the company in two
decades. Otellini also vowed to cut $1 billion from Intel's spending budget in 2006, and to trim $300
million from the company's capital expenditures budget, which had been expected to be nearly $7 billion in
2006. (The company later lowered the 2006 capex budget to less than $6 billion.)
The boom was lowered in mid-2006 when Intel announced it would cut 1,000 management jobs to trim
costs in the face of stiff competition and lower demand for personal computers. Next came a shakeup in
senior management during the summer of 2006, with the most significant move being the naming of EVP
Sean Maloney to lead the company's sales and marketing group. He previously served as co-manager of
Intel's mobility group. Analysts see Maloney as a potential successor to Otellini as CEO.
The company then said it would reduce its headcount by 10,500 jobs by mid-2007, through attrition and
workforce reductions, particularly in management, marketing, and IT functions. The job cutbacks represent
a 10% drop in employment; some job losses are due to businesses being sold. Intel has sold its
communications and application processor line to Marvell Technology for $600 million in cash. The
business employs about 1,400 people, most of whom shifted to Marvell. The line, based on Intel's XScale
technology, includes the PXA9xx processor, which goes into Research In Motion's BlackBerry 8700
device, and the PXA27x processor, which is used in the Palm Treo, Motorola's Q phone, and other
electronic devices.
The chip maker has sold its media and signaling business to Eicon Networks for $75 million in cash. Out of
600 employees in the business, Eicon hired about 375 people. The business includes all of the products
from Intel's 1999 acquisition of Dialogic (for which it paid $732 million), plus Host Media Processing
software and HMP-enabled blade computers. It also includes SS7, PBX integration, and gateway products.
Intel has sold its optical-networking components business to Cortina Systems for around $115 million in
cash and stock. It received a minority equity stake in Cortina as part of the transaction. Intel acquired the
business as part of its 1999 acquisition of Level One Communications.
Intel's processor market share stands around 75%, but the company's long-running battle with smaller
archrival AMD has heated up as that company's successful Athlon processor has taken market share away
from Intel's Pentium. AMD pulled off its coup through timely introductions of high-performance chips
during a period in the early 21st century when Intel experienced uncharacteristic component shortages and
manufacturing glitches. Intel struck back with rounds of price cuts and an unusually aggressive schedule
for introducing faster Pentium models. AMD filed an antitrust suit against Intel in 2005, alleging that its
rival has used improper subsidies and coercion to secure sales.
Intel fired a competitive volley in the summer of 2006 with the rollout of its Core 2 Duo microprocessors
and deep cuts in price tags for older processor models. The Core 2 Duo line, initially launching with 10
different models, offers higher performance while consuming less electrical power. The company's Core 2
Extreme processor is targeted at gaming applications. The Core 2 Extreme is designed into high-end PCs
from Alienware, Dell, and Gateway, among other manufacturers.
In late 2006 the company doubled down on dual-core processors by launching the Xeon 5300 processor for
computer servers -- packaging four computing engines in one microprocessor. The four models in the Xeon
5300 line are roughly four times faster than single-core processors, yet use the same amount of electrical
power. Intel opened 2006 with the debut of a new brand identity. In addition to redesigning its wellknown logo, the company replaced its famous "Intel Inside" tagline with "Intel. Leap Ahead." That same
year, the company unveiled its vPro technology for desktop PCs. vPro represents a comprehensive
technology suite for business desktop PCs, similar to the sweep of the Centrino suite for mobile computing.
vPro represents the third brand in Intel's platform strategy, with its predecessors being Centrino and Viiv.
Viiv (rhymes with five) is Intel's technology for digital entertainment, providing home PC users with new
ways to work with digital photos, games, movies, music, and video.
Intel's long championship of the WiMAX wireless networking technology paid off in 2006, when Sprint
Nextel set plans to spend up to $3 billion over two years building a WiMAX-based network infrastructure.
Intel, Motorola, and Samsung Electronics will be among the suppliers to the ambitious project, which is
expected to provide service in late 2007. Some observers see WiMAX as the successor to the popular WiFi industry standard for wireless access to the Internet. WiMAX is effective over longer distances and
provides faster data transmission rates than Wi-Fi. The technology can conceivably allow users to surf the
Web from a laptop or onboard computer in a moving motor vehicle or other means of transportation. Sprint
Nextel's embrace of WiMAX is a blow to QUALCOMM, which is promoting an alternative technology,
orthogonal frequency-division multiplexing, or OFDM. Sprint PCS and Verizon Wireless are currently
using QUALCOMM's EV-DO technology for Internet access with mobile devices.
Stock Price (1 Year Chart) and Questions:
• What do you see as Intel’s greatest strength?
• What qualities do Intel look for in potential
hires/interns?
• What advice do you have for students interested in
pursuing a career at Intel?
• This question is for each of the presenters, how
would you describe your typical day?
• Innovation is a concept that is very important to
Intel. Where do you see the next level of
innovation happening at Intel?
Address:
19091 Pruneridge Ave
Cupertino, CA 95014-0705, US
Cupertino Site Building 46 Upper Salmon River room
Turn left at Hewlett-Packard entrance (first signal light)
Turn right after the guard station
Follow the signs to 44/46 Lobby
Agenda:
2pm-4pm Open Roundtable/Forum to Ask Questions
NOTE THERE IS NO PRESENTATION PLANNED, SO PLEASE PREPARE!
While Hewlett-Packard may be known for product innovation, the company's corporate development is a
tale of reinvention. HP provides enterprise and consumer customers a full range of high-tech equipment,
including personal computers, servers, storage devices, printers, and networking equipment. Its software
portfolio includes operating systems, print management tools, and OpenView, a suite that encompasses
application, business, network infrastructure, and product lifecycle management. HP also boasts an IT
service organization that is among the world's largest.
Years after its acquisition of Compaq Computer -- a deal valued at approximately $19 billion -- HP
continues to integrate its operations. Debate over to the wisdom of the merger and speculation about the
possibility of spinning off certain divisions of HP also continues, but CEO Mark Hurd has so far opted to
keep HP intact. Since taking over in 2005, Hurd has been charged with streamlining operations, and soon
after his appointment he split the printer and personal systems units that his predecessor, Carly Fiorina, had
combined only months earlier. Other restructuring measures include the dissolution of its Customer
Solutions Group, and a workforce reduction of roughly 10%. The company is now made up of seven
business segments, most of which fall under three broad units: Technology Solutions Group, Personal
Systems Group, and Imaging and Printing Group.
HP's Technology Solutions Group (TSG) encompasses its enterprise storage and servers, services, and
software segments. The company vies with IBM, Dell, and Sun Microsystems at the top of the server
market, with products based on the Microsoft platform, as well as UNIX and Linux-based offerings. The
Compaq acquisition provided HP with a competitive boost in storage, where its products compete with
those of IBM and the allied powers of Sun/HDS and Dell/EMC. HP's services unit provides technical
support, consulting and systems integration, and managed services such as technology outsourcing. HP's
software portfolio continues to grow, and it has augmented its OpenView suite of management tools with
the purchases of AppIQ (storage network management), Peregrine Systems (asset management) and RLX
Technologies (blade server management software). Early in 2006 it acquired OuterBay Technologies
(database archiving). In 2006 HP acquired IT management software provider Mercury Interactive for
approximately $4.5 billion in cash.
HP's Personal Systems Group (PSG) markets desktop and notebook PCs to consumer, businesses,
government agencies, and schools. PSG, which jockeys with Dell for PC supremacy, sells both HP and
Compaq-branded products. Its computers are predominately Microsoft Windows-based systems with either
AMD or Intel processors, but the company does offer Linux and UNIX-based workstations. In addition to
traditional PCs, PSG provides handheld computers, calculators, and digital media centers. HP augmented
its PC line in 2006, acquiring Voodoo, a provider of systems used for gaming and other high-performance
applications. Later in the year it agreed to purchase Bitfone, a global software and services company that
develops mobile device software solutions for the wireless industry.
HP's Imaging and Printing Group (IPG) provides inkjet, laser, and large-format printers. Its comprehensive
line also includes copiers, digital presses, scanners, multifunction devices, software, and supplies. In
addition to printing and imaging giants ranging from Canon to Xerox, HP clashes with PC nemesis Dell in
the printer market as well, as the direct-sale specialist now sells Dell-branded printers made by Lexmark
and others. HP moved into the high-end copier market in 2003, introducing a line of high-volume,
multifunction devices. It has also fleshed out its line with acquisitions, such as its 2002 purchase of Indigo
(high-end digital printing presses), and the assets of wide-format printing specialist Scitex Vision (a unit of
Scitex Corporation) in 2005. IPG also oversees HP's digital photography products and services, including
cameras, digital photo printers, and online services. HP acquired online photo service Snapfish in 2005, as
well as a German company called bilderservice.de that runs a similar service called Pixaco.
HP's other business segments include financial services and a corporate investment arm. HP Financial
Services provides leasing, asset management, and lifecycle management. HP's corporate investment
organization encompasses HP Labs, as well as certain infrastructure products such as Ethernet switches. It
also licenses HP technology.
Stock Price (1 Year Chart) and Competitor Comparisons:
HPQ
CAJ
Market Cap:
112.07B
75.45B
55.93B
146.34B
1.26B
Employees:
150,000
115,583
N/A
341,750
2.42K
DELL
IBM
Industry
5.60%
4.80%
12.80%
-11.70%
0.00%
Revenue (ttm):
87.90B
31.74B
55.91B
91.13B
781.68M
Gross Margin (ttm):
23.44%
48.45%
17.80%
40.09%
37.56%
EBITDA (ttm):
7.64B
6.85B
4.84B
17.28B
218.65M
Oper Margins (ttm):
6.09%
15.53%
7.96%
13.27%
-3.56%
Net Income (ttm):
2.68B
3.25B
3.57B
7.99B
121.00K
EPS (ttm):
0.925
3.66
1.459
4.875
N/A
P/E (ttm):
44.53
15.46
17.20
19.93
43.72
1.32
N/A
1.04
1.35
1.38
P/S (ttm):
1.23
2.19
0.97
1.63
1.42
CAJ = Canon Inc.
DELL = Dell Inc.
IBM = International Business Machines Corp.
Industry = Diversified Computer Systems
Questions:
• What do you see as HP’s greatest strength?
• What qualities do HP look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at HP?
Da y 4: Monday, January 8
Address:
10 Network Circle, Building 10
Menlo Park, CA
Visitor parking is located outside MPK 10
Agenda:
9-11am Presentation, Questions, Tour (maybe 8:30am start)
When it comes to network computing, it's hard to find an area where the Sun doesn't shine. Sun
Microsystems is a leading maker of UNIX-based servers used to power corporate computer networks and
Web sites. It also makes workstation computers and a widening range of disk- and tape-based storage
systems. Unlike most hardware vendors, Sun makes computers that use its own chips (SPARC) and
operating system (Solaris). Its software portfolio includes application server, office productivity, and
network management applications. Sun also developed Java, a programming language for creating software
that can run unchanged on multiple operating systems.
Sun soared during the the dot-com explosion in the 1990s with hardware optimized for serving Web sites,
but the subsequent e-recession leveled the playing field for competitors. The company has responded by
significantly growing its product and service lines through internal development and acquisitions -- a
strategy that has notably moved it beyond proprietary technology and embraced the open-source
movement.
The company's aggressive and outspoken chairman, Scott McNealy, has waged a public battle with
Microsoft over the use of Sun's Java programming language. But Microsoft's greatest threat to Sun has
been in the server arena, where competitors look to undersell Sun's UNIX-based offerings with servers
based on the Wintel platform (Intel processors, Microsoft's operating system). In addition to offering
Windows machines, Hewlett-Packard and IBM both sell servers running their own versions of UNIX.
Sun continues to expand its support of Windows and Linux-based products. While the company remains
firmly committed to Solaris, it has adopted Linux for select low-end server deployments and developing
desktop PC products. With companies such as Dell nipping at its heels at the low end, Sun countered with
its own line of inexpensive servers that use Linux and processors from AMD and Intel. It has also made
inroads into high-end data centers, a market where IBM has been entrenched with its long history of
providing mainframe computing.
Sun's software division develops application server software that competes with offerings from BEA
Systems, IBM, and Oracle. Sun's OpenSolaris project, launched in 2005, made Solaris available on an
open-source basis. Late that year Sun announced it would also provide its Java Enterprise System, Sun N1
Management software, and development tools for free.
Sun has augmented its internal software development with acquisitions and partnerships. The company
purchased Tarantella, a maker of application access software, for about $25 million in 2005. Continuing its
software push, Sun purchased enterprise application integration specialist SeeBeyond Technology for $383
million in cash. It also partnered with fellow Microsoft adversary Google, agreeing to bundle the search
giant's browser toolbar with its Java Runtime Environment software; the deal has generated wide
speculation that the companies could be laying the groundwork for more significant collaboration. Sun
acquired Linux systems management software developer Aduva early in 2006.
On the storage front the company has partnered with Hitachi Data Systems to bolster its offerings (pitting it
against yet another tech titan, EMC). Its acquisition of startup Pirus Networks furthered Sun's N1 strategy
with storage virtualization technology. N1, which is similar to initiatives embraced by IBM and HewlettPackard, encompasses a comprehensive effort to build hardware and software that simplifies resource
management for network administrators. The company also acquired the assets of network-attached storage
(NAS) system provider Procom Technology for approximately $50 million in cash in 2005. Later that year
Sun acquired Storage Technology (more commonly known as StorageTek) for $4.1 billion in cash.
SUNW
HPQ
IBM
MSFT
Industry
869.89M
Market Cap:
19.08B
112.07B
146.34B
293.54B
Employees:
38,000
N/A
341,750
71,000
787
17.00%
7.20%
5.10%
11.00%
7.70%
Revenue (ttm):
13.53B
91.66B
89.59B
45.35B
479.87M
Gross Margin (ttm):
43.28%
24.41%
41.60%
82.16%
38.66%
-217.14K
EBITDA (ttm):
719.00M
9.66B
17.47B
19.00B
-3.21%
7.39%
14.09%
39.38%
-1.35%
-797.00M
6.20B
9.17B
12.94B
-306.09K
EPS (ttm):
-0.230
2.176
5.816
1.251
N/A
P/E (ttm):
N/A
18.93
16.70
23.87
28.53
6.13
1.31
1.62
1.50
1.62
P/S (ttm):
1.44
1.23
1.63
6.50
1.41
Oper Margins (ttm):
Net Income (ttm):
HPQ = Hewlett-Packard Co.
IBM = International Business Machines Corp.
Industry = Diversified Computer Systems
Questions:
• What do you see as SUN’s greatest strength?
• What qualities do SUN look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at SUN?
Address:
eBay town hall adjacent to eBay North campus at
San Jose, CA 95125
Agenda:
11:30 am-1:30 pm Presentation, Questions, Tour
"I got it on eBay" is barreling its way into the lexicon of the new millennium and placing a cyber-grin on
the corporate face of online auctioneer extraordinaire eBay. The company is a cyber-forum for selling more
than 45,000 categories of merchandise -- from Beanie Babies to fine antiques -- hosting about 254,000
online stores worldwide (some 161,000 on its US Web site). eBay, which generates revenue through listing
and selling fees and through advertising, boasts more than 180 million registered users. In mid-2006,
Internet powerhouse Yahoo! and eBay announced an agreement to join forces on advertising, Web
searches, online payments (through eBay's PayPal platform), and a co-branded toolbar.
The Yahoo! agreement plans will be rolled out through 2006; full implementation is scheduled to be
reached by 2007. Key elements of the arrangement's design include Yahoo! providing advertisements
throughout eBay's site and the integration of PayPal into Yahoo!'s e-commerce infrastructure.
As far as an overall business strategy, fast-growing eBay is offering new services and expanding into new
areas, most recently China, India, South Korea, Spain, Switzerland, and Taiwan, through site launches,
acquisitions, and joint ventures.
eBay also operates in Mexico and eight South American countries through its investment in
MercadoLibre.com. Overall, eBay and its subsidiaries do business in more than 20 countries worldwide.
The online auction house's global payments platform, PayPal, boasts about 96 million accounts. To help
secure financial transactions over the Internet, eBay recently acquired the payment gateway business,
which enables online merchants to process and manage electronic transactions, from Internet services
company VeriSign for about $374 million.
No longer the only Internet auction site in town, eBay faces mounting competition from online
powerhouses such as Amazon.com and smaller competitors like Overstock.com. In addition, the company's
rising popularity created technical glitches that exposed its vulnerability to mechanical malfunctions. The
manner in which eBay runs its system has also been questioned as the result of a slew of auction hoaxes
(such as postings for human organs and unborn babies) and fraud.
eBay's success breaking into international markets has been largely reliant on key acquisitions and
partnerships in each new market. Along these lines, eBay partnered with Google in August 2006; the
arrangement involves Google providing text advertisements on eBay's international auction sites. Despite
its failure to gain a foothold in Japan (Yahoo! controls the Japanese online auction market), eBay has
pressed on with international expansion through acquisitions in the world's two most populous nations,
China and India. (Baazee.com is eBay's wholly-owned subsidiary in India.)
eBay sees huge market potential in China, the world's #2 Internet market, and India; it's spending heavily to
establish its business in those countries. While eBay is already one of China's biggest online auction
players, it faces unusual challenges and competition there from upstarts such as Alibaba.com Corp. In late
2006, eBay shifted its China strategy when it entered a joint venture with Tom Online, a prominent online
game provider. As part of the partnership, eBay will integrate its eBay Eachnet subsidiary into the venture
with Tom Online owning 51% and eBay, 49%.
In Europe eBay in 2005 acquired Internet-calling startup Skype Technologies S. A. of Luxembourg, for
about $2.6 billion. Robert Swan joined eBay in mid-March of 2006 as its new CFO replacing Rajiv Dutta,
who has been named president of Skype. Swan comes to eBay from Electronic Data Systems where he is
currently CFO. The online auction house is extending its reach by expanding into voice communications,
which it hopes will facilitate trading on its Web site. Keeping the acquisitions rolling in 2006, eBay
snatched up the leading Swedish online auctioneer Tradera.com for $48 million; eBay hopes the move
strengthens its Swedish trading opportunities in the future.
In mid-2006 eBay finally stepped aside from its auction roots with the launching of eBay Express, a site
dedicated to selling new merchandise at fixed prices. The site allows eBay to target what it calls
"convenience-oriented buyers," meaning consumers who are more focused on purchasing new items
without the bother of going through eBay's auction process.
eBay chairman and founder Pierre Omidyar owns about 14% of the company; former VP Jeffrey Skoll and
CEO Meg Whitman own about 6% and 2%, respectively.
Stock Price (1 Year Chart) and Competitors:
Top Competitors:
Amazon.com
Google
UBid
Questions:
• What are eBay’s strategies to expand in the emerging markets in new geographies such as Asia?
• How does eBay address ethical issues that arise from auction hoaxes?
Related Articles:
eBay Trends for 2007
12/6/2006 12:35 PM EST
Although we're facing a hectic holiday season, it's not too soon for sellers to plan for 2007. As a matter of
fact, as an experienced seller, you should all have your first-quarter business plan ready to go now. And
while you probably feel you have your business under control, you should be prepared for plenty of unseen
variables. Here are a few thoughts as to what you might see change in the marketplace and how you can
make the most of your eBay (EBAY - news - Cramer's Take - Rating) listings over the coming year.
Expect Cost Increases
Sellers always seem to be caught unaware when eBay or PayPal changes a policy or when they (dare I even
breathe the thought?) raise their fees. Like the changing of the weather, increased fees -- in one form or
another -- should always be expected.
Realize that it's not because eBay is a big bad company that wants to pilfer from our pockets, but because
they're constantly attempting to improve the site to make it the ultimate marketplace for online shoppers,
and they need to cover their costs.
UPS (UPS - news - Cramer's Take - Rating), FedEx (FDX - news - Cramer's Take - Rating) and the U.S.
Postal Service also tend to raise their fees each year, so plan to add that cost to your shipping fees. Last
year, the Postal Service increased the flat rate and one-pound priority rate to $4.05, bringing the amount we
charge buyers for small-item shipping close to $5. Next year, you may have to exceed the $5 price point.
Market With Charity Listings
eBay Giving Works (through MissionFish) has raised more than $34 million for nonprofits to date. Many
sellers have found that by participating in this program and contributing a portion of their sales to a charity,
they've increased their bids and final sale prices. This marketing model makes a lot of sense based on my
customer service theory: By donating to a charity, you build an image of being a caring business on eBay
rather than just another seller. Remember these facts:
• Listings stand out with a Giving Works ribbon icon.
•
•
•
Your chosen nonprofit's mission statement is on every listing that benefits them.
Each donation is tax-deductible (MissionFish provides the receipt for you).
The eBay fee credit policy rewards your generosity.
Increase Seller-Buyer Communication
If you've been listing items for the holidays, you might notice a new option on the sell-your-item form: You
have the opportunity to include a Skype link in your listings. Skype is eBay's Web communication arm. By
using it, your buyers can either call you by using a microphone and their computer speakers or open a chat
window to ask you questions.
Although many sellers feel that communication with customers is a bother, by answering questions quickly,
your sales will go up. Again, here's the theme of increased customer satisfaction in 2007.
Be a Savvy Merchandiser
I hear it all the time: "Oh woe is me! None of my items are selling anymore. eBay has ruined the market,"
or "The economy's down so no one's buying." Yep, it's the American way -- blame everyone else for the
downturn. Why not look to yourself?
Just recently, I was looking for a cowboy-style Christmas stocking on the site, and I found close to 100
different listings for the very same item. The pricing wasn't very different (but the shipping charges were),
and the sellers were all clearly buying from the same source. Is this a vibrant marketplace? Did the sellers
do their homework before buying this item to sell?
Before buying deep into an inventory item, do a little research. Check out the eBay site and see if the item
is already listed. In a couple of days, check it again. Has the number of listings increased? Did anyone buy
the item? Choose your items selectively. It's a very competitive market.
Reconsider Collectibles
Many eBay sellers pooh-pooh the collectible arena and have stopped selling these one-of-a-kind items. But
collectibles are the heart and soul of eBay -- it's the primary online marketplace where shoppers can look to
find a plethora of unique and vintage items.
No local antiques or collectibles store can possibly carry the wide variety of items that buyers can find on
eBay. If you can find unique items, this is the place to sell them.
Expand Business Overseas
Are you selling your products worldwide? You might consider it if you knew that eBay has more than 212
million registered users across the globe. Considering that there's a huge audience for Americana
worldwide, you can easily find desirable items to build your sales. Visit outlet malls for current fashion,
toys and home décor items.
Just think: If you're a U.S. expatriate living in Germany, the only way you'll be able to buy your favorite
products at a reasonable price is from an eBay seller. And foreign nationals also crave many of the items
we take for granted.
Sell (or at Least Link) From Your Own Web Site
Do you have enough time and know-how to start your own e-commerce site? The most successful eBay
sellers sell merchandise from independent Web sites. Your business can grow a good 30% to 40% by the
simple addition of a Web site.
If a full-blown e-commerce site seems too much for you just now, install an eBay editor kit on your free
ISP page. When people click on your store items and follow through with a purchase, you'll get a 75% store
referral discount on your final value fees for bringing a buyer to eBay. Learn more about the tools eBay
offers to promote your listings here.
Address:
IBM Almaden Research Center
650 Harry Road
San Jose, CA 95120
Phone: (408) 927-3557
Note that this facility is rather isolated atop a large hill. The gate is not very well marked and
students will need to press the speaker button to announce that they are with Carnegie Mellon,
visiting Julie Wood. Once inside, head to the top of the hill (about one mile) and part in a visitor’s
space. Proceed to the main lobby and sign in with the receptionist.
Agenda:
3 pm-5 pm Presentation, Questions, Tour
Here is a link about the program that students should be familiar with:
http://www-913.ibm.com/employment/us/extremeblue/
Big Blue? Try Huge Blue. International Business Machines (IBM) is the world's top provider of computer
products and services. Among the leaders in almost every market in which it competes, the company makes
mainframes and servers, storage systems, and peripherals. Its service arm is the largest in the world, and
IBM is also one of the largest providers of both software (ranking #2, behind Microsoft) and
semiconductors. The company continues to use acquisitions to augment its software and service businesses,
while streamlining its hardware operations with divestitures and organizational reengineering.
Acquisitions play an especially important role in IBM's software strategy. A pioneer in server operating
system software, IBM made an early move into messaging and network management software with its
acquisitions of Lotus Development (1995) and Tivoli (1996). Its software operations now focused primarily
on e-commerce infrastructure, IBM has continued its push beyond OS software, purchasing the database
operations of Informix (2001) and application integration products from CrossWorlds Software (2002). In
2003 it acquired development tool maker Rational Software for $2.1 billion in cash, and it acquired supply
chain software developer Trigo Technologies early in 2004. Soon after came the purchase of software
partner Candle, and in 2005 it acquired Ascential Software for about $1.1 billion in cash. The next year the
company bought Costa Mesa, California-based FileNet, a maker of content management software, in a deal
valued at $1.6 billion.
IBM has seen other significant changes in recent years. The company in 2006 added managed security
services to its portfolio of offerings when it bought Atlanta-based Internet Security Systems in a cash deal
valued at $1.3 billion. Big Blue also is buying document-management software provider FileNet in a deal
valued at $1.6 billion, and MRO Software for $740 million.
IBM also has reorganized its hardware business, with an emphasis on its leading enterprise server and
storage products. Other streamlining efforts have included a move toward outsourced manufacturing and
refurbishing; IBM utilizes the services of both Sanmina-SCI and Solectron, which have each acquired
manufacturing facilities from IBM. It also formed a joint venture with Hitachi to combine the companies'
disk drive operations in 2002; an initial investment of about $2 billion from Hitachi netted it a 70% stake in
the new company, with further payments to IBM over the next three years resulting in full ownership. Early
in 2004 IBM announced that it would also combine its Technology (microchips) and Systems (servers,
storage) groups. IBM ended the year with an agreement to sell its PC business -- a segment that yielded
little profit for the company in recent years -- to China's Lenovo; the deal closed in 2005. IBM has retained
a 19% stake in the expanded Lenovo, and it will serve as the preferred service and financing provider for
the company.
Though perhaps still best known for its hardware, IBM's growing services business now accounts for
almost half of its sales. Looking to extend its lead, IBM acquired PricewaterhouseCoopers' consulting and
IT services unit, PwC Consulting, for an estimated $3.5 billion in cash and stock. While presenting IBM
with a significant integration challenge, the transaction served the dual purpose of augmenting IBM's
standard array of outsourcing, maintenance, and integration services, while moving the company into highend management consulting. In 2004 the company purchased Daksh eServices, one of India's largest call
center businesses, and the Business Continuity Services unit of Schlumberger. The following year it
expanded the presence of its service arm in the health care market when it acquired Healthlink.
Never content to rest on its laurels, IBM consistently leads the tech industry in patent awards. The company
is at the forefront of such diverse fields as nanotechnology and quantum computing. About 60% of IBM's
sales are to customers outside the US.
In 2005 IBM completed the sale of its PC operations to Lenovo for approximately $1.75 billion.
Top Competitors:
EDS
Hewlett-Packard
Microsoft
Questions:
• What are the projects planned for 2007 at IBM Extreme Blue lab in San Jose?
• Could you provide details of past projects that have been implemented as commercial products and
services?
Related Articles
IBM Launches Marketing Effort In 'Second Life' Virtual World
Associated Press
December 13, 2006 9:48 a.m.
International Business Machines Corp. is launching an ambitious marketing campaign in the hip virtual
world "Second Life." Big Blue has developed 12 "virtual islands," and most will be open to anyone with a
Second Life account starting next week. Other areas will remain private haunts for about 800 IBM
employees, including the CEO, who have cyber alter-egos. Second Life is a subscription-based 3-D fantasy
world devoted to capitalism - a 21st century version of Monopoly that generates real money for successful
players. More than 1.95 million people worldwide have Second Life characters, called avatars.
At any given time, 10,000 or more avatars may be logged onto Second Life, socializing by instant
messages or engaging in virtual pastimes such as flying, dancing, gambling or watching adult videos.
Second Life is notoriously buggy; avatars may spontaneously shed clothing, hair or limbs, and sometimes
graphics take several seconds to render. In September, the San Francisco-based company that runs Second
Life, Linden Labs, warned that a security breach may have exposed subscribers' data, including credit card
numbers and passwords.
IBM's chief technologist, Irving Wladawsky-Berger, acknowledged Tuesday that virtual-world business is
in the "experimental stage." Big Blue doesn't expect to generate a profit in Second Life soon. But the
medium is promising - particularly for training and orientation sessions for Armonk, N.Y.-based IBM,
which has 330,000 workers worldwide. Two in every five IBM employees work offsite part- or full-time,
and it'd be vastly easier to host a virtual meeting than to assemble hundreds of salespeople or engineers in a
physical conference room.
IBM spokesman Matthew McMahon said IBM might use Second Life for customer service. "Instead of me
trying to explain in a phone call how to unscrew your hard drive, someone in a more immersive 3D world
could actually show you," Mr. McMahon said. Toyota Motor Corp., Adidas AG and American Apparel
Inc. have Second Life outposts. But marketing experts say technology companies have the most to gain
from virtual worlds. Sun Microsystems Inc., Intel Corp., and Advance Publications Inc.'s Wired magazine
were Second Life pioneers.
"It gives them access to an audience that is technically literate and creative - that's a defined demographic
that's beneficial to the tech business," said Tony Hynes, senior vice president of San Francisco-based Bite
Communications, which helped develop Sun's virtual strategy. "For everyone else, it's a highly nascent
medium, and I'm not really sure how beneficial it is."
Da y 5: Tuesday, January 9
Address:
701 1st Ave.
Sunnyvale, CA 94089
Agenda:
9 am -11 am Presentation, Questions, Tour
Internet users around the world are cheering for this company. Yahoo! is the leading online information portal,
drawing more than 400 million people to its network of Web sites with a mix of news, entertainment, and online
shopping, as well as its search engine and Internet directory. The company also offers registered users
personalized Web pages, e-mail, and message boards. Yahoo! publishes content in 15 languages in 20 countries.
It generates most of its revenue through advertising sales, but it also charges subscriptions for premium services.
In addition, Yahoo! provides online marketing and other commercial services and it offers Internet access
through partnerships with telecommunications companies.
Yahoo! operates Yahoo! HotJobs, a job listings site where companies pay to advertise open positions, and it
offers Web hosting and merchant services to small businesses. The company also sells search results and targeted
advertising through Yahoo! Search Marketing (formerly Overture Services). Its premium paid services include
online gaming and music downloading. Its branded Internet access is offered in the US in partnership with
AT&T (formerly SBC Communications) and Verizon; it works with BT Group in the UK and Rogers
Communications in Canada.
A pioneer in Internet search and navigation, the company's ever-growing collection of content and services has
made it one of the best-known online brands and one of the most popular Internet destinations; however, it is
facing increasing competition as the Internet has increasingly become a major channel for people to
communicate and receive news, information, and entertainment. Google is capitalizing on its position as the most
popular search engine to rapidly expand its range of content and services while Microsoft's MSN portal has
launched its own search engine technology and search-targeted ad capabilities.
In response to the increased competition, in 2006 Yahoo! launched a redesigned home page with a simpler,
cleaner layout, similar to those of Google and MSN. Also that year the company launched a new business unit
called Marketplaces, which regroups existing Yahoo! activities in areas such as online classifieds, dating, jobs,
real estate, travel, autos, and shopping and auctions.
These changes were followed by a restructuring of the company's operations and key management roles at the
end of 2006. Yahoo! reorganized itself into three operating units, focused on audience; advertisers and
publishers; and technology, respectively. Daniel Rosensweig, COO since 2003, and Lloyd Braun, the former
ABC executive who ran Yahoo's media group, left the company at this time.
Another key move the company is taking in order to address competition is the formation of a strategic
partnership with online auctioneer eBay. The two companies are joining forces on Internet searches, advertising,
online payments, and a co-branded toolbar. As part of the deal, Yahoo! is making eBay's PayPal online-payment
service its exclusive third-party provider for customers of Yahoo! services.
Yahoo! has made several targeted acquisitions to put itself in the middle of several growing trends in building
online communities. In 2005 it bought Flickr, a service for posting and sharing photos online, as well as
del.icio.us, a service used to store and share Internet bookmarks. It also launched its own Web logging (blogging)
service called Yahoo! 360 and picked up entertainment polling site Bix.com in 2006. The company also
continues to expand its music downloading service and is looking to create additional digital media services that
reach into the living room. To this end it introduced its Web video service, Yahoo! Video, in 2006.
Yahoo! has been expanding its international business, which accounts for almost a third of its revenue. It
acquired European comparison shopping service Kelkoo and launched Chinese search site Yisou.com (which
translates to "number one search"). In 2005 it acquired a 40% stake in Alibaba.com, the leading e-commerce
company in China, for $1 billion. The company has also acquired the remaining shares of Yahoo! Europe and
Yahoo! Korea from partner SOFTBANK. In 2006 Yahoo! announced plans to merge its Spanish-language US
Web site with Telemundo's site in order to target the growing Hispanic audience on the Web.
Founders and "chief Yahoo!s" David Filo and Jerry Yang own 6% and 4%, respectively, of the company.
Top Competitors:
AOL
Google
MSN
Questions:
• In the wake of reorganization, what is the new business strategy of Yahoo!?
• How does Yahoo! plan to face increasing competition from Google?
Related Articles:
Yahoo Shuffles Top Leadership In Streamlining Bid
Finance Chief Decker Gains Key Revenue-Driving Role; Three Other Officers to Leave
By KEVIN J. DELANEY
December 6, 2006; Page A3
Yahoo Inc. announced an executive shuffling that awards a critical role to Chief Financial Officer Susan
Decker, giving her oversight of the company's main revenue-generating activities, including its onlineadvertising sales teams, and also will result in the departure of Chief Operating Officer Dan Rosensweig,
among others.
The moves, announced late yesterday, come as the Internet company grapples with slowing revenue
growth, a falling share price and dissent in its ranks. Yahoo said its new corporate structure will increase
accountability and speed decision-making, an apparent response to criticism that it has been slow and hasn't
held executives responsible for poor performance.
The reorganization, which had been rumored, takes effect Jan. 1. Ms. Decker will continue as finance chief
until the company finds a successor. Some people close to Yahoo have speculated that Ms. Decker, a
former equity analyst who joined the company as chief financial officer in 2000, is being tested as a
possible successor to Chief Executive Terry Semel, 64 years old, upon his eventual retirement, a theory that
the executive shuffle appears to support.
Mr. Rosensweig, who joined Yahoo almost five years ago, plans to leave his post at the end of March, the
company said. Yahoo Media Group head Lloyd Braun and International Operations Senior Vice President
John Marcom will also leave, it said.
The company said it is searching for an executive to head its "Audience" group, which includes existing
products in areas such as search, media, communities and communications. Search Senior Vice President
Jeff Weiner will have expanded responsibility for areas including search, social media, the Yahoo Media
Group and communications, under the Audience head.
Mr. Semel, who announced the changes to company executives, remains as the Sunnyvale, Calif.,
company's chairman and chief executive. "With our new organization and a focused growth strategy that
leverages our core strengths, we're well-positioned to extend our leadership in the years ahead," he said in
prepared remarks.
The changes follow concerns within the company's ranks about its strategy, including a memo distributed
internally by Senior Vice President Brad Garlinghouse dubbed "The Peanut Butter Manifesto." Criticisms
in the memo, which was reviewed by The Wall Street Journal, included "We lack a focused, cohesive
vision for our company" and "We lack decisiveness." The memo's recommendations included a deep
reorganization of the company, a 15% to 20% head count reduction and holding executives accountable for
poor performance.
Asked about layoffs, a Yahoo spokeswoman said the company was "reorganizing for growth" and
continues to hire. Under the new structure, Yahoo will have three operating groups: Audience, to be headed
by an unspecified executive; Ms. Decker's Advertiser and Publisher Group; and a Technology Group led by
Chief Technology Officer Farzad Nazem. It remains unclear exactly how the new structure -- which
appears to still divide responsibility for ad sales, engineering and products in most businesses among
different executives -- will increase their accountability for bottom-line performance or speed decisionmaking.
Before its announcement, Yahoo watchers had pegged Mr. Rosensweig, who oversees operations worldwide, as another potential candidate to eventually succeed Mr. Semel. Mr. Rosensweig played a lead role in
running Yahoo since his appointment as operating chief in April 2002.
Mr. Rosensweig said that he was "excited for Yahoo" and that he believes "this is the right structure for the
company to take advantage of many new growth opportunities." He added that "this is a good time to make
the transition because we have a great bench and great opportunities."
Mr. Braun, former chairman of Walt Disney Co.'s ABC Entertainment Television Group, joined Yahoo in
November 2004 to head its Media Group, whose activities include on-demand music videos and finance
and news sites. But he attracted criticism as the Media Group suffered management turnover and failed to
produce hit services some felt he had promised.
"The Yahoo Media Group has developed and launched a ground-breaking template for the next generation
of media experiences on the Internet," Mr. Braun said in a statement provided by the company. Mr.
Marcom confirmed his own departure.
Address:
345 Park Ave
San Jose, CA 95110
Parking is available in Alamaden Tower Parking Garage, 151 Alamaden Blvd (Alamaden crosses
Park Avenue right before the Adobe Building)
Agenda:
No bricks in this company's business plan. At the forefront of the desktop publishing software industry,
Adobe Systems offers the ubiquitous Acrobat Reader (distributed free of charge), a tool that displays
portable document format (PDF) files on the Internet. The company's Web and print publishing products
include Photoshop, Illustrator, and PageMaker. Adobe's offerings also include print technology geared
toward manufacturers, as well as Web design (GoLive) and electronic book publishing software. Its
InDesign publishing package provides professional layout and design applications. Adobe's Professional
Services group offers implementation, training, and support.
Adobe acquired rival Macromedia for approximately $3.4 billion in stock late in 2005. Macromedia's
popular Web site design and animation tools include Dreamweaver and Flash.
Graphics and Web designers, technical writers, photographers, and other publishing professionals use
Adobe's products to create online and print-based documents. The company classifies its products into four
segments: creative professional, digital imaging and video, intelligent documents, and OEM PostScript. Its
creative professional products include InDesign, a professional page layout product that competes primarily
against Quark's XPress product. Adobe's digital imaging and video products include the popular Photoshop
image editor. Its intelligent documents business helps enterprise customers create and manage PDF
documents. The company's OEM PostScript segment licenses Adobe technology to manufacturers of
printers and other output devices.
In 2004, the company acquired OKYZ, a Paris-based maker of 3D collaboration software; the acquisition
added 3D technology to Adobe's Intelligent Document Platform. Adobe acquired Trade and Technologies
France (TTF), a developer of CAD data interoperability software, in 2006.
Adobe sells directly and through distributors and resellers. Ingram Micro and Tech Data together accounted
for about a third of the company's sales in 2004.
Though Adobe generates the majority of its sales through Web and print products, the company's activities
aren't limited to developing its own software. In addition to direct investments in a handful of high-tech
companies, it operates four venture partnerships with Granite Ventures. Adobe has investments in more
than 30 companies (including Convio and PSS Systems) whose products and services complement its own.
ADBE
Market Cap:
Employees:
Revenue (ttm):
AAPL
MSFT
Pvt1
Industry
24.05B
72.47B
293.54B
N/A
N/A
N/A
71,000
N/A
177.14M
209
33.70%
31.50%
11.00%
N/A
19.60%
2.58B
19.32B
45.35B
N/A
60.55M
88.64%
29.09%
82.16%
N/A
70.34%
858.22M
2.80B
19.00B
N/A
4.50M
22.10%
12.71%
39.38%
N/A
2.88%
504.42M
1.99B
12.94B
N/A
335.56K
EPS (ttm):
0.824
2.271
1.251
N/A
0.01
P/E (ttm):
49.90
37.36
23.87
N/A
34.89
1.89
1.36
1.50
N/A
1.48
P/S (ttm):
9.43
3.58
6.50
N/A
2.98
Gross Margin (ttm):
EBITDA (ttm):
Oper Margins (ttm):
Net Income (ttm):
AAPL = Apple Computer Inc.
Pvt1 = Quark, Inc. (privately held)
Industry = Application Software
Questions:
• What do you see as Adobe’s greatest strength?
• What qualities do Adobe look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at Adobe?
Related Articles:
The Year in Review: Adobe Up 12 Percent
Friday December 29, 1:38 pm ET
Adobe Systems Shares End the Year Higher, As Investors Await New Version of Photoshop
NEW YORK (AP) -- Shares of Adobe Systems Inc. stumbled in the first half of 2006, but ended the year
higher as investors applauded one successful software launch and looked ahead to another in early 2007.
Adobe, which makes the popular Photoshop graphic design program and the ubiquitous Acrobat PDF
software, disappointed Wall Street with falling profits and weak guidance in its first and second-quarter
reports. The company blamed the shortfalls on costs related to its 2005 acquisition of Macromedia, whose
best-known technology, Flash, is popular among interactive Web designers.
Shares sank to their lowest point in July, scraping $25.98 on the Nasdaq. In the third quarter, Adobe
surprised Wall Street with stronger-than-expected sales of Creative Suite products, which include
Photoshop, Illustrator and other design programs. It also said in mid-October that a voluntary review of its
stock options granting practices and uncovered "no improper grants" to its executive officers going back to
1997, removing overhang that has weighed on other tech company's shares.
The San Jose, Calif.-based company's stock continued to climb through the fourth quarter as investors
anticipated the release of a new version of Adobe Acrobat, which is used to create and read PDF files.
Shares rose again in mid-December, after the company said Acrobat sales were strong enough to push
profit up 16 percent year-over-year.
Creative Suite 3 is expected to ship in the first half of 2007. The release includes upgraded versions of
Photoshop and other design programs and includes elements from Macromedia's technology. Unlike the
previous version, it will also run smoothly on new Apple Computer Inc. machines with Intel processors, a
point analysts expect to drive sales.
Shares of Adobe hit a 52-week high of $43.22 on Dec. 12. For the year, the stock closed Thursday at
$41.33, a gain of $4.57, or 12 percent.
Da y 6: Wednesday, January 10
Address:
5301 Stevens Creek Blvd
San Jose, CA 95129
Once you arrive on site, go to the lobby of Building 4 where you will sign in and get your visitor
badges. As you are signing in, ask the receptionist to call Mikko Koskinen and he and I will meet
you in the lobby.
Agenda:
8:30 – 9:30am
9:30 – 10:15am
10:15 – 11:00am
11:00 – 11:30am
Company Overview
Agilent Technologies History Center Tour
LSCA Center of Expertise Tour
Wrap up & Final Q&A
Agilent Technologies keeps scientists on their toes. A leading manufacturer of scientific instruments and
analysis equipment, Agilent is the #1 supplier of electronic test and measurement products, including data
generators, multimeters, and oscilloscopes. Its life sciences and chemical analysis unit manufactures
laboratory equipment and other scientific instruments. Agilent's customers include global giants such as
Cisco, Dow Chemical, GlaxoSmithKline, Intel, Merck, and Samsung. The company sold its semiconductor
operations -- which produce such products as application-specific integrated circuits (ASICs),
optoelectronic components, and RF chipsets -- late in 2005.
In 2005 Agilent announced a divestiture plan designed to help it focus on its measurement products. The
company sold its semiconductor operations (now called Avago Technologies) to two buyout firms -Kohlberg Kravis Roberts & Co. and Silver Lake Partners -- for approximately $2.7 billion. Agilent sold its
stake in Lumileds Lighting (LEDs) to Royal Philips Electronics for $950 million. It also spun off its
memory and system-on-chip (SoC) test system operations with an IPO; the new company is called Verigy.
Agilent's test and measurement unit offers a wide range of services, such as consulting on hardware
purchases, equipment repair and calibration, and professional engineering. That Agilent is a leader in the
test and measurement equipment industry should come as no surprise -- it is the original business started by
technology pioneers William Hewlett and David Packard. Hewlett-Packard spun off the business in 1999 so
that it could focus on its computer products operations. Being a leader has not spared the company from
tough times in the electronics industry, however. Agilent has made serious job cuts and reduced salaries to
control costs.
The company is also outsourcing more of its production, and moving manufacturing operations to Asia, in
an effort to further lower costs. Operations outside the US account for about 65% of sales.
In an effort to strengthen its offerings in informatics, Agilent acquired privately held Silicon Genetics, a
maker of genomics data analysis and management software for the life sciences market, in 2004. Agilent
entered the flat-panel display (FPD) test arena with the introduction of new LCD and OLED test product
lines, as well as the acquisition of IBM's thin-film transistor (TFT) array test and charge test product line
assets. Early in 2005 Agilent completed the sale of its camera module business to Flextronics, and
purchased Wavics, a Korean maker of power amplifiers for mobile handsets. The company acquired
Scientific Software, a developer of chromatography data systems and content and business process
management applications. It also acquired Molecular Imaging, a maker of measurement tools used by
nanotechnology researchers.
Market Cap:
Employees:
A
14.19B
N/A
TEK
2.40B
4,359
TER
2.84B
4,000
TMO
18.54B
11,500
-21.00%
7.70%
22.30%
638.30%
Gross Margin (ttm):
55.32%
60.13%
48.05%
37.90%
Oper Margins (ttm):
11.12%
Revenue (ttm):
EBITDA (ttm):
Net Income (ttm):
EPS (ttm):
4.97B
1.09B
1.46B
Industry
173.50M
265
8.60%
7.15B
87.42M
6.57M
45.55%
1.72B
190.85M
304.10M
391.80M
1.44B
96.56M
281.39M
295.36M
1.16M
4.65
24.93
7.33
55.37
22.16
2.61
1.85
P/E (ttm):
P/S (ttm):
TEK = Tektronix Inc.
7.499
1.22
2.89
12.64%
1.170
1.50
2.20
14.55%
2.042
1.22
1.97
3.32%
0.818
1.57
5.86%
0.12
1.25
TER = Teradyne Inc.
TMO = Thermo Fisher Scientific, Inc.
Industry = Scientific & Technical Instruments
Questions:
• What do you see as Agilent’s greatest strength?
• What qualities do Agilent look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at Agilent?
• With so much of Agilent’s revenue comes from operations outside of US, do you still the potential
to grow within the US or are your efforts focused outside? If so, where do you see the largest
potential growth?
Address:
3050 Bowers Avenue
Santa Clara, CA
Phone: 408-727-5555
Fax: 408-748-9943
Web Site: http://www.appliedmaterials.com
From:
San Jose
To:
3050 Bowers Ave
Santa Clara
Agenda:
TENTATIVE: 12:30 - 1:30 pm
Today, semiconductor manufacturing; tomorrow, the world -- of alternative energy sources. Applied
Materials is, by far, the world's largest maker of semiconductor production equipment. With its 2006
acquisition of Applied Films, the company moved into the market for equipment used in making solar
power cells. Applied's machines vie for supremacy in many segments of the chip-making process,
including deposition (layering film on wafers), etching (removing portions of chip material to allow precise
construction of circuits), and ion implantation (firing ions into wafers to alter their electrical
characteristics). Applied also makes metrology and inspection equipment.
Applied acquired Applied Films, a supplier of thin-film deposition equipment, for around $464 million in
cash. Following the acquisition of Applied Films, the company created a new product segment, Adjacent
Technologies, that covers equipment used to fabricate solar photovoltaic cells, flexible electronics, and
energy-efficient glass. Applied sees the solar photovoltaic production equipment market increasing from $1
billion in 2006 to more than $3 billion in 2010.
Applied Ventures, the venture-capital arm of the company, invested $3 million in Soliacx, a supplier of
single-crystal silicon wafers for the solar photovoltaic industry.
The company has agreed to acquire the Brooks Software division of competitor Brooks Automation for
$125 million in cash. The transaction will broaden Applied's portfolio of factory control software for the
wafer fabrication plant. Brooks Software will become part of the Applied Global Services organization.
More than two-thirds of Applied's sales come from the Asia/Pacific region, with Taiwan leading the way.
Leading customers include Advanced Micro Devices, Freescale Semiconductor, Intel, and Samsung
Electronics (11% of sales).
As semiconductors are incorporated into more and more products, demand for ever-smaller and more
complex chips grows. Just as quickly, chip-making machinery becomes obsolete -- which is good news for
Applied's sales. To keep up with the chip industry's constant drive toward smaller circuits, larger wafers,
and new technologies such as copper interconnects, Applied relies on heavy R&D efforts.
The company has also used a combination of acquisitions and internal development to bolster its moves
into the few areas of chip manufacturing -- such as atomic layer deposition equipment -- where it wasn't
already a major player. Applied has partnered with specialized construction firms to offer services to speed
installation of chip equipment in new plants.
Applied has occasionally turned to joint ventures and other collaborative efforts to enter new markets. In
1993 it formed a JV with Komatsu to make LCD production equipment. Applied bought out Komatsu's
interest in the JV, Applied Komatsu Technology (AKT), in 1999. Applied has long worked with ASML
Holding, the Netherlands-based supplier of photolithography tools, on integrating lithography equipment
with other chip-making equipment. The relationship has occasionally given rise to rumors that Applied
would acquire ASML, but the company has yet to see photolithography as a key market.
Applied is nudging a little closer to lithography, however, by forming a joint venture with Dainippon
Screen Manufacturing. The JV, Sokudo, combines Screen's wafer track equipment line with cash and
technical expertise from Applied. Track equipment is used in chip fabrication plants during various steps in
the lithography process, applying process chemicals to wafers, spinning the chemicals in some instances,
and later cleaning the wafers after lithography exposure. Sokudo (not to be confused with sudoku, the
Japanese puzzles that have become a big hit in the States) has Screen as the majority owner.
KLAC = KLA-Tencor Corp.
LRCX = LAM Research Corp.
Pvt1 = Tokyo Electron Limited (privately held)
Industry = Semiconductor Equipment & Materials
1
= As of 2006
Questions:
• What do you see as Applied Materials’ greatest strength?
• What qualities does Applied Material look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at Applied Material?
Address:
One Technology Dr.
Milpitas, CA 95035
Meet in Building 3
Agenda:
2-3pm Welcome/Presentation
3-4pm Clean room tour
If there are 20 people we will have to split into two groups
KLA-Tencor is hard-core when it comes to hunting down flaws in chips. The company -- one of the world's
largest makers of semiconductor production equipment -- offers yield management systems that monitor
and analyze wafers at various stages of chip production, inspecting reticles (which make circuit patterns)
and measuring crucial microscopic layers. The systems' feedback allows flaws to be corrected before they
can ruin the costly wafers. KLA-Tencor has long dominated the market for equipment that inspects
semiconductor photomasks and reticles. Entities affiliated with The Capital Group Companies own about
one-quarter of KLA-Tencor.
KLA-Tencor, which gets three-quarters of its sales from customers outside the US, uses selective
acquisitions as well as intensive R&D to keep up with rapid advances in chip fabrication, including
industry moves to copper interconnects and larger (300mm) wafers. In 2004 the company acquired the
Wafer Inspection Systems business of Inspex, a unit of Japan's Hamamatsu Photonics.
KLA-Tencor in early 2005 made a bid to purchase August Technology, a supplier of semiconductor
inspection and metrology systems, soon after August had agreed to merge with Nanometrics. Rival
Rudolph Technologies, however, closed the deal with August in mid-2005, agreeing to acquire August for
around $193 million in cash and stock. Rudolph paid $10.50 a share for August's common stock, $1 less
than what KLA-Tencor offered in an all-cash proposal, but August officials said they were concerned that
combining with KLA-Tencor would provoke antitrust concerns by the US Department of Justice, which
was already looking at the Rudolph and KLA-Tencor bids after clearing August's merger agreement with
Nanometrics. US antitrust regulators later cleared both KLA-Tencor and Rudolph to purchase August
Technology. KLA-Tencor finally dropped its bid for August Technology in early 2006, saying the
companies had been unable to initiate substantial discussions.
Perhaps as a consolation prize, KLA-Tencor has acquired competitor ADE Corporation in a transaction
valued at approximately $474 million. The deal had first been structured as a stock-swap transaction, but
was revised to one with KLA-Tencor offering cash for ADE's common shares.
The closing had been held up by German antitrust regulators; US regulators previously gave their go-ahead
to the ADE deal. German authorities finally cleared the transaction in October 2006, and the companies
closed the deal shortly after, having secured the approval of ADE's shareholders three months earlier.
The company's software includes products for factorywide yield management and for test floor automation
and control. KLA-Tencor's systems are used by most of the world's major semiconductor makers, as well as
by silicon wafer and data storage product manufacturers.
The company is the leader in its niche; it tries to position itself as a one-stop shop for its customers' yield
management needs, particularly by complementing its technology offerings with consulting services.
FMR (Fidelity Investments) holds more than 8% of the company. AllianceBernstein owns around 5%.
VECO
Industry
Market Cap:
KLAC
9.90B
25.70B
N/A
582.05M
470.05M
Employees:
5,500
14,072
9,8681
1,219
947
-4.30%
46.60%
N/A
12.30%
11.40%
1.98B
9.17B
8.71B1
430.77M
423.96M
57.35%
47.22%
N/A
43.69%
41.87%
542.89M
2.73B
N/A
52.60M
48.05M
Revenue (ttm):
Gross Margin (ttm):
EBITDA (ttm):
Oper Margins (ttm):
AMAT
Pvt1
18.16%
24.51%
N/A
4.97%
8.44%
356.52M
1.52B
139.50M1
9.98M
10.14M
EPS (ttm):
1.756
0.969
N/A
0.324
0.34
P/E (ttm):
28.33
19.04
N/A
57.81
24.13
0.96
1.05
N/A
1.87
1.11
P/S (ttm):
5.01
2.82
N/A
1.35
1.55
Net Income (ttm):
AMAT = Applied Materials Inc.
Pvt1 = Hitachi High-Technologies Corporation (privately held)
VECO = Veeco Instruments Inc.
Industry = Semiconductor Equipment & Materials
1
= As of 2005
Questions:
• What do you see as KLA’s greatest strength?
• What qualities do KLA look for in potential hires/interns?
• What advice do you have for students interested in pursuing a career at KLA?
Interesting Facts:
Kenneth Levy, retired as KLA Tencor Corp.'s chairman in October, has been a Juniper director since 2003.
Carnegie Mellon Network Night San Francisco Ba y Area Silicon Valley
6:30-8:30 pm
Address:
The Googleplex (cosponsored by Google)
1600 Ampitheatre Parkway
Mountain View, CA
To register or find further information, please go to:
http://alumni.cmu.edu/networknights/networknightsv.htm

Silicon Valley Trip Schedule

Transcription

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