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01/12/2011

Timing is everything, in humor, love and the market

  Tinas_Groove

Rina Piccolo has been pursuing this story of failing love over at Tina's Groove for awhile now, but here's a punchline that is linked to today's business page, and I'm not using "today" in any sort of metaphorical sense. A funny gag becomes much funnier when the world pitches in to cooperate, but this is taking synchronicity to an absurd level.

The lede from the story in this morning's San Francisco Chronicle: 

MySpace Inc. said Tuesday that the company has fired 47 percent of its workforce - about 500 employees - as the deposed social-networking king continues trying to mount a comeback as an online entertainment hub.

"Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," Chief Executive Officer Mike Jones said in a statement that followed weeks of rumors that the Beverly Hills firm was planning its second major workforce reduction in 18 months.

There have also been published reports that parent firm News Corp. was trimming the subsidiary it acquired in 2006 for $580 million to entice a potential buyer. MySpace officials had no comment on those reports.

Granted, I'm not saying that anybody thought MySpace was doing well, but, still, I may start emailing Rina before I make any investments ...

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