Ziff Davis announces a financial restructuring, with advertisers saying the company has told them it will enter a prepackaged bankruptcy. Ziff Davis publishes such titles
as PC Magazine, CIO Insight, Computer Gaming World and the recently-closed Yahoo! Internet Life (PRN, July 15). But a company spokesperson tells PR NEWS that the restructuring
should have no impact on ZD's publications. "Our magazines will continue to be published on schedule. PR people should continue to pitch away at our editors."
IBM acquires PricewaterhouseCoopers Consulting for $3.5 billion in a move that separates Pricewaterhouse's consulting services from its accounting business. The accounting
firm was anxious to disconnect the two sides of its operations in the wake of the Enron/Arthur Andersen scandal, which proved how vulnerable a major acounting firm's reputation
can be when auditors work for clients that also pay consulting fees.
Need yet another reason to maintain positive employee communications? Unhappy workers have a new outlet for venting their rage online: F___dCompany.com has spun off a new unit
called InternalMemos.com. The site includes internal company correspondence sent in by disgruntled employees - along with their disparaging comments.
