Early Briefing: A Surprise Visit at AOL
AOL employees got a surprise visit yesterday from Steve Case and Ted Leonsis, who showed up at a company-wide meeting to greet the new CEO and help bolster a staff recently hit by layoffs and turnover. Case and Leonsis, along with new chief executive and ex-Google executive Tim Armstrong, tried to rouse the spirits of a workforce that has seen lots of upheaval in the last few weeks alone.
Discovery Communications sued Amazon.com, accusing the e-commerce giant of infringing on its patent for electronic book technology with the Kindle reader. The Silver Spring company said Amazon's two versions of the Kindle, as well as its online services related to the e-reader, violate a patent that the media company and founder John Hendricks received in November 2007, the same month Amazon released the first version of Kindle. The patent deals with encryption technology for distributing digital publications.
CapitalSource said its board approved the repurchase of up to $25 million of the company's common stock. The buybacks will be made from time to time for up to two years depending on market conditions, the Chevy Chase-based company said.
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