Topic: Technology Sector

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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.
Top 10 most expensive car repair mistakes

Better built cars and an uncertain economy mean that Americans are holding onto their cars for longer than ever and are doing more of their own repairs. Nearly half of those who already do their own auto repairs say they are doing more of them themselves this year; 3 in 4 of those who rely on a mechanic say that economic conditions are making them more likely to attempt their own repairs, according to a recent survey by AutoMD.com. But there are mistakes that even the most seasoned do-it-yourselfers can make. Whether you like to go under the hood or take your vehicle to the shop, here are 10 expensive repair and maintenance mistakes to avoid:
Beyond SpaceX: Five companies seeking to change space travel

During the past 10 years, Presidents George W. Bush and Obama have directed NASA to turn the job of transporting cargo and crew to the space station over to the private sector. As that process gathers pace, here is a list of the key players.
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.
The Masters: 12 women candidates for Augusta National membership

The Augusta National Golf Club has steadfastly refused to alter its all-male membership. But circumstances may soon cause the gender barrier to break, and if it does there are several women who might be good fits for the club.

All Content

The New Economy
Top 40 richest list: Zuckerburg flames out as super-billionaire. Does it matter?

Top 40 richest list from Bloomberg drops Facebook CEO Zuckerberg as his company's valuation ebbs. But making the Top 40 richest list is probably not Zuckerberg's big concern right now. 
Digital Vertigo

Are Facebook and Twitter really forms of "an absurd global prison where we are all forced to live in public?” Author and Silicon Valley entrepreneur Andrew Keen is afraid that the answer is yes.
Horizons
How Peter Carl Fabergé is the Steve Jobs of bejeweled eggs

Google is celebrating the 166th birthday of Peter Carl Fabergé, whose ornate eggs made him the Steve Jobs of his day. But with eggs instead of consumer electronics. 
BlackBerry-maker RIM warns of layoffs, operating loss

RIM also hires advisers to look at strategies to reverse its downturn. RIM has seen its share of US smartphone market fall from 44 percent to 10 percent in two years.
Android clears court review of patent claims

Android did not infringe Oracle patents, court rules, in a major blow to Oracle. Android ruling means Oracle won't collect billions of dollars in royalties from Google.
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.
Horizons
IBM bans Siri – and probably for good reason (+video)

IBM bans Siri over security concerns, according to a new report. Behind IBM ban: Siri queries are stored in unknown place and manner.
HP jump boosts Dow; stocks mixed

Hewlett-Packard helped pull the Dow Jones industrial average to a slight gain Thursday, giving the index only its fourth gain this month. The Dow closed up 33 points at 12529.
Facebook stock falls 11 percent in second trading day

Facebook shares close down $4.20 in Monday trading. Facebook stock dropped so much Monday morning that 'circuit breakers' kicked in to restrict sell orders.
Top 10 most expensive car repair mistakes

Better built cars and an uncertain economy mean that Americans are holding onto their cars for longer than ever and are doing more of their own repairs. Nearly half of those who already do their own auto repairs say they are doing more of them themselves this year; 3 in 4 of those who rely on a mechanic say that economic conditions are making them more likely to attempt their own repairs, according to a recent survey by AutoMD.com. But there are mistakes that even the most seasoned do-it-yourselfers can make. Whether you like to go under the hood or take your vehicle to the shop, here are 10 expensive repair and maintenance mistakes to avoid:
Mark Zuckerberg: Facebook status updated to 'married' (+video)

Facebook CEO Mark Zuckerberg married long-time girlfriend Priscilla Chan Saturday in a small, surprise wedding. Less than 100 guests arrived at Zuckerberg's home for what they would be a party to celebrate Chan's graduation from medical school. Zuckerberg did not wear a hoodie.
Tech stocks exchange to change IPO auctions after Facebook glitches

Tech stocks IPO auctions will be revamped, Nasdaq CEO says, after delays plagued Facebook's first day of trading. SEC investigating to see if delays hurt trading in the tech stock's underwhelming IPO.
The New Economy
Facebook IPO? Flat. Facebook future? Bright.

Facebook IPO generated no big stock gains on its first day of trading. But Facebook has many of the traits that made Apple, Microsoft, and Google great in the long run.  
Facebook to debut at $104 billion

The IPO will be one of the largest in history.
Beyond SpaceX: Five companies seeking to change space travel

During the past 10 years, Presidents George W. Bush and Obama have directed NASA to turn the job of transporting cargo and crew to the space station over to the private sector. As that process gathers pace, here is a list of the key players.
Decoder Wire
Facebook IPO: Is co-founder Saverin cheating US out of $100 million in taxes?

By renouncing his US citizenship, Facebook co-founder Eduardo Saverin could save some $100 million in taxes from Friday's Facebook IPO. Senators call it 'tax avoidance,' and aim to block it.
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.
LightSquared, bankrupt, still aims to launch wireless network

LightSquared has filed for bankruptcy protection, saying that will give it more time to win regulatory approval. Regulators have blocked LightSquared's plans, saying they could interfere with GPS signals.
Groupon stock jumps as earnings beat expectations

Groupon stock soared after first quarter earnings were better than analysts predicted. Groupon stock shot up nearly 18 percent in after hours trading.
The Daily Reckoning
The financial industry's growth is stunting everything else

The financial industry was 2.5 percent of the economy when World War II ended. Now, it is 8.5 percent.  How did it get so big, and what are the costs?
Smartphones: Postal service bans foreign shipments

Smartphones with lithium batteries will no longer be accepted for international shipment beginning Wednesday because of fire risks. Shipments of smartphones to US troops abroad will have to go via UPS or FedEx.
Stocks break losing streak. Barely.

The Dow rose 19 points to close at 12885 Thursday, just barely ending its longest losing streak since August.
Sony stock slides as entertainment giant suffers huge earnings loss

Sony stock dipped 1.2 percent in Tokyo following the news that Sony racked up a record $5.6 billion annual loss in 2011. It was Sony's fouth straight year in the red.
After falling, stocks recover from Europe elections

Stock markets recovered around the world following an early stumble caused by election results in France and Greece that appeared to jeopardize Europe's plans for fighting its debt crisis. In the US, the Dow finished the day down 29 points at 13,008.
Horizons
Black Ops 2 brings the Call of Duty franchise crashing into the future

Black Ops 2, set for launch this fall, will take place partially in 2025, in an America overrun by deadly drones. Can Black Ops 2 continue Call of Duty's record-breaking streak?