Gavin Newsom Praises Salesforce.com, And Then Its Stock Drops

Software firm looking to sell companies on social networks

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    NEWSLETTERS

    Asa Mathat
    Salesforce.com CEO Mark Benioff has the audacity to employ people. The nerve!

    The very thing that wins the praise of San Francisco Mayor Gavin Newsom wins the ire of Wall Street stock analysts for Salesforce.com.

    The company, which makes software for businesses to better manage relationships with customers, is throwing a conference in San Francisco this week -- which the unusually quiet Newsom actually bothered to tweet about.

    Welcome attendees of salesforce.com conference-18,000 expected- big boost to city-great company/very philanthropic- HQ in SF

    And while not exactly philanthropy, the company is actually planning to continue hiring human beings and paying them living wages.

    On which news, of course, Salesforce saw its share price fall even as it reported profits that matched analyst expectations.

    Maybe the company's foray into social networking will boost its prospects?

    Since clearly Wall Street wants us all unemployed and posting updates on our misery online so advertising can be better targeted to us.

    Photo by Asa Mathat.

    Jackson West dreads the thought of corporate-mandated social networking in a cube farm.