Topic: California

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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.
Spurs and Thunder star in NBA’s Western Conference Finals: 10 extra dimensions

The clash of the Spurs and Thunder in the NBA’s Western Conference finals may fly a bit under the national radar when it opens Sunday. Here are 10 factors that make this showdown intriguing.
Major gay marriage cases in federal court and where they stand

Battles over same-sex marriage have been raging in the federal courts for several years. Two could reach the US Supreme Court within a year: one challenging California's ban on gay marriage under Proposition 8, and the other seeking to invalidate the federal Defense of Marriage Act (DOMA). Here are the cases to follow.
Commencement season: Speakers share inspiration, insight, and advice with college grads

It’s college graduation season and the strains of “Pomp and Circumstance,” which began in late April, will be heard at commencement ceremonies until mid-June. Many more speeches have yet to be given that impart the usual pearls of wisdom and advice on pursuing dreams, being daring, and contributing to society. Here’s a sampling of excerpts from speeches given to graduates around the country.
Andy Cohen: 7 stories from his new book

In his new memoir 'Most Talkative,' the Bravo executive and host recounts everything from high school to crazy experiences on his talk show.

All Content

Gay rights in America: How states stand on 7 hot-button issues

The tapestry of federal and state laws surrounding gay rights is enormously complex. Here is a look at each state's laws regarding issues ranging from gay marriage to hate crimes to hospital visitation.
Inconvenient truths to a ban on texting while driving

In Ohio, heated debate accompanied the move to ban texting while driving. That surprised me. Who could oppose such a thing? Ah, but then the law of unintended consequences put a whole new light on the controversy.
White births in US no longer a majority

White births in the US have been surpassed by racial and ethnic minorities, according to newest Census data.
Running With the Kenyans

In a move that is alternately naive, courageous, and entertaining, British journalist Adharanand Finn transplants to Kenya to learn from the world's best runners.
The New Economy
Foreclosures down, short sales up. Are banks getting smart?

Foreclosures are down to their lowest levels in nearly five years. One reason: Lenders are increasingly using short sales, instead.
Football stadium to host world's largest solar eclipse party

The eclipse will occur in the afternoon and early evening on Sunday, during which time the moon will pass between Earth and the sun, casting a shadow on the planet.
More than half of US babies now minorities, US Census reports (+video)

America is changing. As of July 2011, 50.4 percent of children under age 1 in the US were members of minority groups. In the under-5 group in 2011, 49.7 percent were minorities.
On campaign trail, Biden paints Romney as corporate raider

The Vice President was in high-unemployment areas of Ohio, suggesting the GOP candidate doesn't care about workers.
Edwards doesn't testify in campaign finance trial

The former senator's defense rested without putting on John Edwards, accused of illegally funneling money to his mistress.
JPMorgan Chase trading fiasco: What to do about big banks?

JPMorgan's loss of $2 billion shows that the forces that unleashed the recession remain partially untamed – and that Congress is still struggling to get a handle on the solution.
Betty White on safari in Washington for new animal picture book

Actress Betty White goes on safari to Washington National Zoo for her new animal picture book.
John Edwards trial: Defense rests without calling former senator or mistress

Defense lawyers concentrated on whether former US Senator John Edwards broke federal campaign finance laws.
Facebook stock: 6 intriguing investors

Facebook stock will make many people suddenly wealthy when it begins trading this Friday. The company is expected to be valued somewhere around $100 billion, with stock expected to sell anywhere between $34 and $38 per share. Here are six of the more unexpected people set to make a killing with initial public offering of Facebook stock, including a rock star, a graffiti artist, and pair of Mark Zuckerberg’s enemies.
Will Californians trust Jerry Brown enough to vote for his tax increase?

After outlining drastic cuts Monday, Gov. Jerry Brown pleaded with California voters to approve a temporary sales-tax increase. Some experts, but not all, think he can get it through.
New three-man space-station crew blasts off in Soyuz spacecraft

An American and two Russians lifted off in a Russian-made rocket from Kazakhstan Tuesday morning to begin their four-and-a-half month stint aboard the International Space Station.
States should fold on Internet gambling

California and New Jersey, each seek more revenue, are leading the states toward Internet gambling, starting with online poker. But this all-too-easy form of gaming would come with at a high cost to society – and government.
At US border, era of fence-building, manpower 'surge' at an end

A strategy shift is under way at the US border patrol, with intelligence and risk to national security taking priority over adding more fences and additional manpower. Why the change?
Would you buy a ticket to a private, inflatable space station? (+video)

SpaceX and Bigelow Aerospace are joining efforts to offer trips to a privately owned orbital habitat.
Jerry Brown proposes billions in cuts. Are Californians getting his message?

With California's budget shortfall soaring, Gov. Jerry Brown (D) proposes broad, painful cuts for state workers and programs. Without new taxes, he warns voters, the cuts will be even worse.
California facing higher $16 billion shortfall

California's budget deficit has swelled to $16 billion and will force severe cuts to schools and public safety if voters fail to approve tax increases in November, warns Gov. Jerry Brown.
Top 10 states for working moms

Mother's Day companies? That's what you could call workplaces that help moms meet their family commitments. Those companies can be located anywhere. But some states do better than others in mandating a level of standards beyond the federal minimum in the form of paid family leave, job protection, and “right to nurse” laws. In honor of Mother’s Day, here are the Top 10 states that best support new working mothers, according to the National Partnership for Women and Families. Can you guess which state gets the highest marks?
Will Arizona Sheriff Joe Arpaio's popularity continue amid lawsuit?

Despite a mountain of legal troubles, Maricopa County Sheriff Joe Arpaio remains popular with voters and has more than $3.4 million in the bank for his November re-election campaign.
Focus
Argentina's renationalization of YPF: A push to manage oil on its own terms

Many have criticized Argentina's move to renationalize its oil as a populist bid likely to isolate it from the global economy. But the takeover is in line with changing power dynamics in the region.
Gay marriage issue: Who does it hurt most, Obama or Romney?

Gay marriage is not a campaign subject either Barack Obama or Mitt Romney really needed, and it could present difficulties for both candidates as the election nears.
In Election 2012, how much is the House in play? Three sides to the story.

Steve Israel outlines his scenario for the Democrats winning back the House. Pete Sessions says the GOP could actually increase its hold. Analysts say the reality is somewhere in between.