A high-level hire by a rival is usually bad news. So why do I suspect insiders at Classmates.com are rejoicing at the news that former Yahoo executive Rachel Glaser is joining spammy social network Reunion.com as COO and CFO? The two sites have close to the same traffic, and similar unscrupulous methods for gaining…

Now we know why Bebo's so eager for more cash. It needs more servers. According to Pingdom, Bebo has already been down for 12 hours and 28 minutes so far this year. Check out the full chart to see how 13 other social networks have fared so far.