There's already lots of chatter about the launch of Google Checkout, highlighted by how it will be an eBay-PayPal killer. Not to dismiss Google Checkout's features, which seem interesting, but when was the last time Google launched a new service that kicked some serious butt? It may be Google doesn't look for home runs when it unveils something new. Instead, it could be more interested in slowly complementing its core search and AdSense efforts. Nevertheless, people would be wise to not get too caught up in the PayPal-killer rhetoric. Forrester analyst Charlene Li has an extensive review of Google Checkout.
Update: BusinessWeek has a story (July 10th edition) looking at how everyone gets excited about new Google services that fail to grab a market leadership position. The first quote is by Paul Kedrosky, who greets every new Google service with a healthy dose of pragmatism.

My column in today's National Post looks at Nortel's need to spill the beans on where it's headed strategically. CEO Mike Zafirovski has been working away for more than seven months on his corporate makeover, and now analysts and investors want in on his master plan. By the way, Nortel's annual meeting is today.
Update: Here's my story in Friday's National Post on the AGM. It includes some interesting details about some new stock options granted to Mike Z. at a lower strike plan than the ones he received last year when he was hired.