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After being acquired by Russian-based SUP, LiveJournal's new executive team went to work bridging some of the gaps between the American and Russian blogging communities, while also setting forth to firmly establish a powerful presence with this new worldly platform, creating a new board of directors.
I think SUP has done a good job of being open about its plans, and in its ability to retain its loyal user base, which the company will now begin to do with the new LJ Labs. A combination of a forum and a platform for developers to create and share applications.
Also, click here to preview a new feature Live Journal is working on: a streaming collection of posts being reated by LiveJournal users. Seems like it could be a cool screen saver.