Google Inc. and major music companies launched a free Internet music download service for China on Monday in a bid to help turn a field dominated by pirates into a profitable, legitimate business. The advertising-supported service will offer 1.1 million tracks, including the full catalogs of Chinese and Western music for Warner Music Group, EMI, Sony Music Entertainment, Universal Music and 14 independent labels.
It will be limited to use by computers whose Internet addresses show they are in China.The subtitle of this book is a good summation of what it’s about. The author, a brand-building consultant, says companies must give customers good value and follow up to see that they are satisfied. Best of all, he offers dozens of examples from companies such as Costco, BMW, Nintendo and Toyota to show what he means.
WHAT’S HOT- Bloomberg Markets ranks the world’s investment banks by 2008 fees. Here are the top 10, followed by their total and the change from 2007. The one big gainer, Barclays Capital, picked up fees from Lehman Brothers’ U.S. deals.
1. JPMorgan Chase, $4.3 billion, -31%
2. Citigroup, $3.8 billion, -45%
3. Goldman Sachs, $3.7 billion, -45%
4. UBS, $3.1 billion, -43%
5. Morgan Stanley, $3 billion, -52%
6. Merrill Lynch, $2.8 billion, -49%
7. Deutsche Bank, $2.4 billion, -45%
8. Credit Suisse, $2.2 billion, -51%
9. Barclays Capital, $1.9 billion, +120%
10. Bank of America, $1.7 billion, down 42%
LOOKING BACK
Ten years ago in Business, the week of March 31:
•The Dow has hit 10,000, but pay gap opponent United for a Fair Economy says most U.S. households have lower net worths than in 1983, when the Dow was at 1,000.
•The number of people doing their taxes on computers and otherwise filing electronically has shot up 156 percent.
•NovaStar Financial in Westwood says it has completed the sale of 4.3 million shares of cumulative convertible preferred stock for about $30 million.
Greg Hack, ghack@kcstar.com