The experts are promulgating many esoteric ways to determine the financial condition of the economy. It's irrational to base one's mood on the Dow Jones Industrial Average (DJIA). After all, (a) what does that have to do with the real world? And (b) it reflects the buying (and selling) decisions of the same investment bankers who got us into this mess.

In case you missed it, here is the press release from last week announcing our new partnership with the Consumer Electronics Association for LA Games Conference. This gives us a significant step up as we increase our profile and position as one of the leading publishers and event producers covering the $17.9 billion game industry (2007 sales figures, according to NPD Group). For more information about our annual LA Games Conference, please visit www.lagamesconference.com.

New York - On Saturday, Microsoft withdrew its bid to buy Yahoo after Yahoo turned down its offer to increase its price by $5 billion to $47.5 billion.

San Francisco - World Golf Tour, a San Francisco-based developer of photo-realistic online golf games, said on Friday that it has raised an undisclosed amount of funding in its second round, led by Menlo Park-based Panorama Capital.

New York - Viacom Inc. (NYSE: VIA) today reported that its quarterly net profit rose 33 percent, beating Wall Street forecasts, on strong sales of the "Rock Band" video game and higher advertising revenue at its cable networks, including MTV Networks. The company said that revenue for the period rose 15%, to $3.12 billion, from $2.72 billion in the first quarter of 2007.

Yahoo (NASD: YHOO) is planning a move of its European headquarters from London to Geneva, Switzerland, for tax reasons. Some 70 of its top managers in the UK are told to relocate or lose their jobs, according to Financial Times (FT).

DMW’s CEO & Publisher provides a wrap-up of the top stories of the week. Who’s hot, who’s not and what’s the industry buzz?

In my column last week, I predicted that there may be a silver lining in Yahoo’s recent troubles and low share price in the form of a possible takeover bid from rival Microsoft. Voilà! In a bold move that sent ripples through Silicon Valley before sunrise on Friday, Microsoft (NASD: MSFT) announced that it has made an unsolicited $44.6 billion takeover bid

DMW’s CEO & Publisher provides a wrap-up of the top stories of the week. Who’s hot, who’s not and what’s the industry buzz?

There was no shortage of news for the week of Jan. 21-25. The biggest story: The Federal Reserve lowered the benchmark federal funds rate by three-quarters of a percentage point to 3.5%, its lowest level since September 2005, but the Fed’s actions couldn’t stop an already shaky stock market from continuing its downward spiral. After a sharp mid-week increase on news of the rate cut, the DMW100 ended slightly lower on the week.

Sunnyvale, Calif. - Internet giant Yahoo said on Friday that it has launched a new personal finance website, featuring tools and information focused on nine major areas such as banking, real estate and retirement.