WSJ Wrap-Up -- For the Bakken, Skip and Scroll

Still updating.

1. Wow, this is interesting, p. B1: "Nokia's Problems Haunt Microsoft."

Nokia Corp. warned Thursday that its cellphone business is quickly deteriorating and that it will cut 10,000 workers, a setback that threatens partner Microsoft Corp.'s mobile aspirations.

The companies bound themselves together last year in a last-ditch effort to compete in a smartphone market dominated by Apple Inc. and Google Inc. Now, Microsoft faces the possibility that the company responsible for two-thirds of its mobile software shipments may not be strong enough to give it influence in mobile computing.

Yes, seriously, is anyone waiting to buy the next Nokia smartphone?

Until this year, Nokia enjoyed a 14-year-run as the world's largest maker of mobile phones. But the company raised new doubts about its future Thursday by warning its losses will be worse than it expected just two months ago. It would not predict when the losses might end.

The news sent Nokia's shares down 16% to $2.35 in New York trading, the lowest point since 1996. Nokia has lost more than three-quarters of its market value since Chief Executive Stephen Elop arrived in September 2010 and decided to bet the company on phones powered by Microsoft's operating system. 

Hindsight is 20/20. Back in 2010, the decision to go with Microsoft certainly made sense. Apple drives a hard bargain. My hunch is that Microsoft offered much better financial terms and promised a better relationship.

Some numbers (some rounding):

• Nokia's mobile devices division employs 53,000 people. It has announced it will cut 24,000 jobs
• rival Motorola, bought last month by Google, employs 20,500
• Nokia shipped 2 million Lumias worldwide (according to Nokia) 1Q12
• same period: Apple shipped 35 million iPhones
• Nokia's biggest market, Europe: Nokia 1 million units; Android, 15.5; iPhones, 7; and, Blackberrys, 2.5 million
• Microsoft's operating system for phones sixth place, at 2.6% of world market

And then there were two: Google's Android and Apple's iPhone.

 2. ZocDoc, p. C10: "doing for doctors and dentists what Priceline did for travel. The company puts medical professionals' calendars on-line. Folks can make own appointments on-line. For the consumer, free. For the medical professionals. $3,000. Booking only two extra appointments/month on average covers the cost of the service. Back-of-the-envelope: $3,000/24 --> $125/visit margin? Hmmmm.

3. And that's about it. A lot of great reading but nothing much for the blog. Sorry.