You're watching your favorite cooking show and the insufferably smug chef reels off a killer recipe that you just HAVE to whip up for your eight closest friends. But you missed the first few ingredients when the dog threw up on the rug.
What to do?
If the collaboration announced Friday between Maytag -- you know, the home appliance maker -- and Microsoft proves fruitful, your worries may soon be over.
The two companies have agreed to develop so-called "smart" appliances based upon the Universal Plug and Play Internet technology, allowing those appliances to connect to interactive televisions and the Net.
So, for example, a consumer could send a recipe from an interactive TV to a smart refrigerator, which would then take an inventory of the ingredients needed to make the dish.
The alliance with Microsoft underscores how Maytag -- known primarily as the maker of washers, dryers, and vacuum cleaners -- is trying to add modern technology features to its lineup.
Tomorrow's Maytag repairman, it seems, will have to be a geek.
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Need cash?: IBM said Friday that it has established a US$500 million fund to invest in Internet companies using its products to build their infrastructures.
The fund, called IBM Global Financing, will team with other venture capital firms to provide financing for purchasing IBM hardware, software, and services to companies that have completed their first round of financing.
In establishing the fund, IBM is taking its cue from other tech companies like Intel, which has an investment portfolio of over 350 companies worth $8 billion.
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Shuffle at Wal-Mart: David Glass, chief executive and president of the world's largest retailer, is stepping down immediately and will be replaced by CEO Lee Scott, the company said Friday.
Scott will oversee day-to-day operations and long-term planning, while Glass will remain on Wal-Mart's executive board.
Reuters contributed to this report.**
