Some San Jose employees have violated rules for city-issue credit card use, according to a new report from the city auditor. While most employees used their city credit cards, or p-cards, properly, Auditor Sharon Erickson found some big violations, including p-cards of fired employees that were still active, or employees sharing their card information with co-workers not authorized to use the p-cards. One employee used his card to rent a BMV for two and a half weeks after crashing his car. There was even a cause of one cardholder springing for a large meal at a pricey downtown restaurant, covering 48 dinners and $700 worth of alcohol. The auditor is recommending San Jose tighten p-card oversight and switch to online record keeping. Full Story
Police in San Jose have released a report on a previous incident at the home of San Francisco 49er Ray McDonald, three months before his arrest on suspicion of domestic violence. Police say "overwhelming media interest" let to them releasing the May 25 report. The report doesn't name either McDonald or his fiancee directly, but it says a woman at the Bentley Ridge Drive Home grabbed a gun in an argument. No arrests were made because the woman never threatened the man or pointed the gun at him, and left when he threatened to call 911. Legal experts say the earlier incident might explain why prosecutors have not charged McDonald since his August arrest.Full Story
Oracle co-founder Larry Ellison is stepping down as CEO effective immediately.
He is remaining with the company as executive chairman and chief technology officer.
Safra Catz and Mark Hurd have been promoted to co-CEO's of the software giant.
Silicon Valley tech analyst Rob Enderle says it is time for Ellison to make the transition from the CEO role.
Ellison turned 70 last month. Full Story
NEW YORK (AP) - Alibaba is pricing its initial public offering of stock at $68 per share. It's the top end of the likely range. The Chinese e-commerce giant is expected to start trading today under the ticker "BABA" on the NYSE. The IPO values Alibaba at $167.6 billion -- bigger than the current market value of Amazon, Cisco, and eBay.Full Story