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Opening Bell: 8.23.06

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Quattrone's Questionable Comeback (Business Week)
The prosecution of Frank Quattrone is finally over, and not a moment too soon. The whole mess was a black mark on the attorney general’s office. Quattrone was accused of obstructing justice when there was, apparently, no justice to obstruct—no plausible evidence of an underlying crime. It still wreaks of arm-chair market regulators seeking scapegoats when the last internet bubble collapsed. What’s next for Quattrone? We doubt it’s a hedge fund or venture capital fund. The man isn’t so much a value finder as a deal maker. So we bet he hooks up with an existing investment bank.
Cisco buys on-demand TV company for $92m (Amerca’s Network)
Do you still own a television? Well, its days are numbered. We have more than one friend who only watch television on their computers. The only thing stopping us from giving up the dummy box is the poorer quality of online video due to bandwidth problems. Expect that to change as online video becomes more and more popular. And when that happens we can call be rock stars, tossing our televisions out the windows and watching them explode on the streets below.
Microsoft and Facebook in Web ad deal (Reuters)
The other day we ran into Friendster. She was sitting out back behind the Gas-and-Sip, spitting into a can of Diet Pepsi and muttering about Mentos. Man, remember when that bitch was hot? What happened to her? How come it never worked out? One day we’ll hear the full story and hopefully we’ll laugh instead of cry.
Microsoft takes cybersquatters and typosquatters to court(
When we heard about “typosquatting” our first thought was “that is a very good idea.” Apparently we’re not the only ones. Microsoft has launched a cornucopia of lawsuits against people who register domain names targeted at those seeking the software maker but unable to get the spelling right. We’re not sure about the legal basis for owning the intellectual property in names close to your own, however. And we know that is still up and running.