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Opening Bell: 6.27.08

Microsoft Seeks Path Beyond the Gates Legacy (NYT)
Today is Bill Gates last day as a full-time employee of Microsoft, so all week there's been plenty of writing about what it means. We have no idea what it means. He'll still be the Chairman of Microsoft, so realistically, expect to see the words "Bill Gates" and "Microsoft" together a lot, even if he doesn't draw a bi-monthly salary. If we were gates, we'd start a web startup. That'd really shock the hell out of everyone You know, go out, hire a team, raise $500k in seed money. Get the fire back. He's only in his 50s, so this whole retirement/philanthropy thing seems a little early, no?
Oil climbs to record above $141 in Asia (AP)
We're still like $60 away from $200 oil, but it's really in the bag, isn't it? When is someone going to come out with that oil $300 note? And when is the economy going to grind to a standing stop as has been promised.
Global Oil-Supply Worries Fuel Debate in Saudi Arabia (WSJ)
After the clock hits 12:00 today, and you start going into slack mode for the weekend, you might want to check out this front pager in WSJ, about two Saudi oil execs on opposite sides of the peak oil debate. Seriously, so much of this debate has been cold, theoretical and, well, geological. Finally, a human face or two.
FriendFinder Networks IPO delayed as developers mutiny (ValleyWag)
This is some pure rumormongering from ValleyWag, which is fine, cause they put it in their 'RumorMonger' category, and besides, without rumors there wouldn't be news. Anyway, we've been excited about the 'FriendFinder' IPO, cause it's actually the Penthouse IPO. And we've been lusting after that S-1 since we first heard that it might get filed. What are their margins? We can't wait to find out!?. Anyway, apparently things aren't going great operationally, though ValleyWag extrapolates and predicts problems with the IPO, which looks like a bit of a leap, unless we're missing something.
Oil costs force P&G to rethink supply network (FT)
Story we've been hearing more and more about: logistics operations getting redesigned to be less reliant on cross-global transport. Quick! Someone needs to write an "End of Globalization" book. Not that there aren't already a million books that basically have that name.