What’s in a name? In this case, everything. Techonomy is a tech-centric media startup from a trio of old Fortune editors (old as in former - and yes, we resisted calling them old soldiers of Fortune). Their mission is the noble, and daunting, challenge to harness technology to solve societal issues: technology + economy = Techonomy.

The three former editors at Time Inc.'s fabled Fortune magazine—David Kirkpatrick, Peter Petre and Brent Schlender—admit to being optimists. That's why they're betting that better information dispensed more quickly, enhanced with events, will result in effective applications of technology to a host of issues from personalized healthcare to environmental issues.

Their coming out party will be the first Techonomy conference in Tahoe, California in August. Speakers include tech heavyhitters such as Microsoft founder Bill Gates, Google CEO Eric Schmidt, Cisco CTO Padmasree Warrior, and Citigroup CTO Deborah Hopkins.Continue reading...

Gizmodo's iPhone v. 4 sneak peek sparks a frenzy. [NY Times]

Blackberry sends cute girls to flirt while secretly peddling its products. [NY Daily News]

European airports start to reopen for flights, as ash halts Nissan production in Japan. [BBC]

Toyota's Lexus SUV recall goes global. [CNN]

Yahoo wants to acquire Foursquare before it becomes even more popular. [LA Times]

Lifetime taps iPad for Project Runway finale. [PaidContent]Continue reading...

Europe moves to relax flight restrictions as volcanic ash eruptions appear to subside, and stranded travelers turn to social media. [WSJ | Bloomberg | BBC | USA Today]

As expected, Toyota will pay a $16.4 million fine to U.S. safety regulators. It's also recalling the Lexus GX 460 SUV. [BBC | Marketwatch]

After nearly two years of red ink, Citigroup posted $4.4 billion in profit in the first quarter. [NY Times]

Coca-Cola launches a multi-million dollar global campaign for the 2010 FIFA World Cup. [BrandRepublic]

Tesco staffs up for the UK launch of Best Buy. [Guardian]

P&G's new Bounty paper towel campaign targets schools. [Brandweek]Continue reading...

Desperate times, bank closings around the world, entire nations teetering on the brink of insolvency, and just general global financial meltdowns leave consumers feeling a bit edgy. That isn’t good for the brands that are helping to make them feel that way – including bailed-out banks like Citigroup.

And so it’s little surprise that Citigroup has stirred up a hornet’s nest of anxiety with a new communiqué to customers that is foreboding, at worst, and confusingly arcane, at best. It’s just not the kind of thing that a major bank brand should be doing as it tries to redeem itself in the eyes of American consumers.

For its part, Citigroup blames the feds.Continue reading...

MetLife is in final negotiations to purchase AIG. [WSJ]

AMC purchases Kerasotes Showplace Theatres. [LA Times]

Verizon raises termination fee. [Washington Post]

Motorola launches a rewards program for loyal customers. [AdWeek]

Toyota seeks out lithium battery supply in Argentina. [WSJ]

Citigroup experiences a fourth-quarter $7.6 billion loss. [CNN Money]Continue reading...

Netflix is extending its brand by collaborating with Nintendo's Wii on an online streaming video service. Users of the most popular gaming console in the business will be able to subscribe for access to an array of movies and television shows.

This partnership is an attempt for Wii to increase application, allure, and usage. The industry has been hit hard this past year by the increasing popularity of free games on social-networking websites and smartphones.

“You just have to wonder if people are going to buy prepackaged $60 video games in the future,” said Mark Mahaney, managing director for Internet research at Citigroup. “If you are a console maker, you better quickly hurry to add more functionality and features to your console.” Continue reading...

What a difference a decade makes.

AOL is now Aol. (period included). Time Warner remains scarred by a $164B loss. And former chief executive Gerald Levin says he's sorry.

Levin, who conducted the “worst deal of the century” by merging AOL with Time Warner Cable, admitted his failures in a recent CNBC appearance. He also used the opportunity to reach out to today’s corporate CEOs and urge them to assume responsibility for America's financial crisis. Among the financial brands targeted were Citigroup, AIG, Lehman Brothers, and Bear Stearns.

“Where is the stand-up leadership that’s going to take responsibility for what’s happened and do something about it?” he asked.Continue reading...

NBCU will stream the Winter Olympics via "TV Everywhere." [MediaPost]

GM will not consider Spyker's bid for Saab. [AFP]

Citigroup needs a brand makeover. [BNET]

Ford finalizes sale of Volvo to Geely. [WSJ]

Asian airlines ramp up customer service, perks. [NY Times]

Whole Foods CEO John Mackey gives up Chairman position in compliance with governance rules. [WSJ]Continue reading...