JetBlue Airways said today that it replaced its CEO David Neeleman. Neeleman, the company's founder, had been at the helm since 1998 and will assume the role of the company's non-executive chairman. The company said they planned for the change for some time. Last Valentine's Day, JetBlue had several embarrassing service disruptions that exposed weaknesses in the airline's operations.
Microsoft signed a deal with Chinese PC maker Lenovo valued at $1.3 billion. The deal allows Lenovo to use Windows and other Microsoft software suites on its computers. In 2005, the Chinese Government began requiring that all PCs made in China to have licensed operating software installed before leaving the factory.
Retailers, stung by rising gas prices and the weak housing market, experienced a rough April where same store sales dropped by 2.3 percent throughout the industry. Analysts were expecting a poor performance last month, but the sales were worse than expected. Wal-Mart, Abercrombie & Fitch, and Federated Department Stores all saw drops in their sales.
Vonage Holdings said it might have technology that could revive its Internet-phone service. Vonage shares, down 82 percent before today, shot up as much as 13 percent after the news was announced. Last March, a U.S. district court ruled that Vonage must pay Verizon more than $58 million in damages and 5.5 percent of future revenue from phone lines for copyright infringement.