Yahoo rejects Microsoft's offer
Yahoo plans to reject Microsoft's bid to purchase the company for $44.6 billion. The New York Times reported Microsoft is likely to make more offers, seeing Yahoo as a way to compete against Google for online software.
People familiar with Microsoft's plans also told The New York Times that Microsoft is planning to court Yahoo's largest shareholders, hoping it will persuade the leadership board at Yahoo.
Some analysts have speculated that Yahoo's rejection may be an attempt to get a higher price from Microsoft.
Game developers look to a big spring
Whatever path the economy may take, the gaming industry remains unharmed and as successful as ever with the release of major games this upcoming spring.
After several delays, Nintendo will finally release its highly anticipated "Super Smash Bros. Brawl" in North America. "Brawl" was recently released in Japan, scoring three perfect scores from major gaming magazines and selling 840,000 copies in its first week, breaking numerous sales records, according to el33tonline.com.
Take-Two Interactive also announced an April 29 release date for its successful and controversial "Grand Theft Auto IV," the latest in the series of free-roaming games that have attracted significant media attention.
El33t also reported success with Capcom's recently released "Devil May Cry 4," selling a combined 245,000 copies worldwide.
IRS seeks to tax online purchasing
eBay has become a massive online market and a way for people to make a living by selling huge volumes of goods online. Now, the IRS has been urging more effective rules for major sellers on the Web site.
According to The New York Times, the IRS issued a fact sheet in September stating that "all income from auctions, traditional or online, and consignment sales is generally taxable" and that "a person must report a gain from a sale whether he or she operates a business or not." The fact sheet made an exception for income made from selling occasional personal possessions.
eBay spokesperson Kim Rubey told The New York Times the online-auction Web site feels these additional federal rules are unwarranted. She claimed that eBay "provides just one type of venue that small businesses use to connect with customers" and that "applying a type of reporting to one but not all is quite problematic."
-MICHAEL CARUSI
