SAN FRANCISCO (MarketWatch) — Cisco Systems said Tuesday that it’s shutting down its Flip video-camera business and cutting roughly 550 employees, as Chief Executive John Chambers makes his first big move after vowing “bold steps” and “tough decisions.”Shares of Cisco CSCO, -0.94% were mostly flat in early trading Tuesday, as the company unveiled what appeared to be at least a significant retreat from the consumer market, amid criticism that it had overreached in an expansion bid.
Starting a business is tough enough when you’re fresh out of school. Having a huge pile of student loan debt doubles the challenge. The size of the average outstanding student loan debt has soared, rising 50% from 2007 to 2014 to nearly $28,000, according to the Ewing Marion Kauffman Foundation. But despite the growing debt burden, some determined grads are heading straight into entrepreneurship. Starting a business is expensive.