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Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
Bill Clinton: 5 reasons he is helping Obama

Four years ago, former President Clinton got his knuckles rapped for calling Sen. Barack Obama's presidential aspirations a "fairy tale." Now the 42nd president is appearing on the stump with No. 44. Here are five reasons for Mr. Clinton to go all out for the newest member of the Presidents Club.
Unemployment rate: How many Americans are really unemployed?

It depends on which measurement you use. For most people, the ability to find a job is the most basic sign of a healthy economy. Changes in the unemployment rate signal whether getting a job is becoming harder or easier for US workers. But other numbers, also sent out by the Labor Department on the first Friday of each month, offer additional barometers to watch. Here are five ways to measure the jobless problem, with the latest numbers plugged in.

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Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
Mitt Romney's Bain problem: private equity has bad rap with public

Mitt Romney is using his record as a job creator at Bain Capital as a selling point, but – even before President Obama's attack ads – the public isn't inclined to buy it, polls suggest.
Chamber of Commerce president: don't overreact to JPMorgan losses

US Chamber of Commerce president Thomas Donohue, at a Monitor breakfast Monday, advised a wait-and-see approach after JPMorgan's $2 billion in trading losses.
Chen Guangcheng: What's ahead for Chinese dissident now in the US?

Now that Chinese activist Chen Guangcheng has reached the United States, both Beijing and Washington are hoping to put what could have been a tense diplomatic situation behind them.
Horizons
On eve of Facebook IPO, GM pulls millions in ads

General Motors yanks $10 million in Facebook ads. Will this affect the Facebook IPO?
JP Morgan loss: Did US regulators know what CEO Jamie Dimon apparently didn't? (+video)

Federal regulators embedded at JP Morgan are supposed to get the reports that CEO Jamie Dimon gets. But in the case of JP Morgan's $2 billion loss, that might not have been much help.
JPMorgan reveals huge $2 billion trading loss

JPMorgan stock drops nearly 7 percent in after-hours trading. JPMorgan CEO Dimon blames 'errors, sloppiness, and bad judgment.'
Should Mitt Romney worry about Ron Paul?

Mitt Romney is way ahead of Ron Paul in the delegate count. But Paul's enthusiastic forces have been effective in controlling state party apparatus, and this could impact the GOP convention.
Occupy movement seeks new recruits. In New York, it found some. (+video)

A new generation of activists skips school, flocks to Wall Street to join May Day Occupy protests. On their minds? student loans, reining in corporations, and being part of something that could matter.
Bill Clinton: 5 reasons he is helping Obama

Four years ago, former President Clinton got his knuckles rapped for calling Sen. Barack Obama's presidential aspirations a "fairy tale." Now the 42nd president is appearing on the stump with No. 44. Here are five reasons for Mr. Clinton to go all out for the newest member of the Presidents Club.
Cybersecurity bill (CISPA): After House passage, what will Senate do?

Sen. John McCain is pushing a voluntary cybersecurity approach, while another CISPA-type bill would require companies like electric utilities to meet federal cybersecurity standards.
The Vote
White House Correspondents' Dinner: Who's coming?

Kim Kardashian and Lindsay Lohan are the latest celebs to emerge on the list for Washington's annual 'nerd prom,' the White House Correspondents' Dinner. Here's a list of other names.
Newt Gingrich to exit presidential race: What took so long?

Newt Gingrich said weeks ago that he knew Mitt Romney was the likely nominee. Now, campaign aides say, he is set to suspend his campaign May 1.
Chevy Volt comeback: gas prices spur best-ever monthly sales

GM had temporarily closed a Chevy Volt plant because of slack demand. But that changed in March with a record 2,289 units sold. GM's new target: 3,000 a month.
If Supreme Court scraps health-care law, who wins politically?

Harsh questioning from the Supreme Court majority has touched off new political calibrations over President Obama's health-care law. In some ways, Democrats could be the winners.
Horizons
Windows 8 set for October launch: report

Windows 8, the latest Microsoft OS, could ship this fall, just in time for the holiday rush. 
Leon Panetta's big task in Afghanistan is trust-building. Impossible? (+video)

Defense Secretary Leon Panetta is in Afghanistan to try to repair relations after the Quran-burning incident and a mass shooting of civilians. The fact that the US has spirited away the accused shooter complicates his mission.
What keeps SEC chairwoman up at night? Money market funds (+video)

The health of money market funds leads the list of worries of SEC chairwoman Mary Schapiro, America's top financial market regulator. Past wild swings in the stock market rank up there, too.
Horizons
Fresh Apple TV rumors emerge. Should we believe them?

An Apple TV set is apparently in the works. And it could hit shelves this year. 
The Vote
Who is Saul Alinsky, and why is Newt Gingrich so obsessed with him?

Newt Gingrich keeps likening President Obama to radical community organizer Saul Alinsky. But Gingrich seems to have adopted Alinsky's tactics himself, as has the tea party. Mainstream Republicans aren't happy.
White House proposes new help for troubled mortgages. Too little, too late?

President Obama's mortgage modification program has helped only a fraction of Americans under water. New measures have been proposed, but they could be costly to taxpayers.
Horizons
Netflix CEO forecasts steady decline in DVD subscribers

Netflix will focus its energy on streaming video and unique content, Netflix CEO Reed Hastings said this week. 
US Chamber sees limp economy, high unemployment rate in election year

US Chamber of Commerce President Thomas Donohue offered a grim outlook Thursday for cutting the politically sensitive unemployment rate, citing slow economic growth.
Is California Gov. Jerry Brown's 'ransom' budget an empty threat?

California Gov. Jerry Brown proposed a state budget Thursday that would cut $4.8 billion from education – but only if a ballot initiative to raise taxes fails. Problem is, legislators are balking.
Robert Reich
Wall Street is its own worst enemy

Capitalism depends on trust, but Wall Street has blanketed America in a miasma of cynicism