|
|
Wow, history is repeating itself. This is exactly what happened at the end of the 1990s and early 2000 with the crash of all those .com companies. Suddenly companies like Pet-co and AOL were worth more then General Motors or IBM. Which was ridiculous since the .coms didn’t manufacture a damn thing. It was all based on the whims of the millions of internet users. Trust me, the bigger they get, the harder they’ll fall.
I hate it with a vengeance; it is just bad stuff – too much information floating around for everyone to see. I can’t imagine how it’s [...]
Hugging a hoodie has always been a risky business, but never before have the stakes been so high. Tomorrow, Wall Street will invite the world to buy shares in Facebook and take what is expected to be a $104?billion gamble on its guiding light, Mark Zuckerberg, a hoodie-wearing 28-year-old who, only a few years ago, gave out business cards that read: ‘I’m CEO, b*tch’.
It’s no wonder, then, that Friday’s stock market launch – or initial public offering (IPO) – of the internet’s most popular social network has evoked almost as many shivers of fear in the business world as it [...]
via Reuters:
Clients of troubled Spanish bank Bankia, nationalized last week, have taken out over 1 billion euros ($1.3 billion)from their accounts since last Wednesday, El Mundo newspaper reported on Thursday citing information from a board meeting held yesterday and seen by the paper.
Bankia did not respond to requests on Wednesday asking if there had been mass withdrawals of cash from deposits. No-one one was available immediately to comment on Thursday.
Shares in Bankia fell 10 percent on Wednesday after the lender delayed announcing first quarter results, stoking fears about scales of losses at the bank.
IPO estimated to be worth as much as $105B as individual shares expected to open at $38
Meanwhile, GM announced today that it will stop advertising with Facebook because it says users do not click on their paid adverts
However, it will continue to use free company page
Facebook has hiked up the size of its initial public offering by almost 25 per cent, making the social media site worth an estimated $104billion.
With that estimate, Facebook becomes more valuable than brands that have been cemented in America’s culture for decades – including Kraft, McDonald’s, and even Disney.
A single share for the eight-year old [...]
One angry (and hungry) man is picketing a family-run restaurant for what he calls false advertising.
Bill Wisth, who weight 350lbs and stands at a towering 6ft6in, went to the Thiensville, Wisconsin restaurant last Friday for their all-you-can-eat fish fry.
However, he said that after 12 pieces, Chuck’s Place cut him off.
The restaurant staff said they were running out of fish, but sent Mr Wisth on his way with eight more pieces.
He told Today’s TMJ 4: ‘We asked for more fish and they refused to give us any more fish.’
But he was not to be swayed.
Instead, Mr Wisth called the police. He [...]
“Officials say about $3 billion in infrastructure improvements are planned in the state to process natural gas and move it to market.”
http://news.yahoo.com/nd-becomes-nat…–finance.html
Infrastructure of the sake of infrastructure is fraud and a waste of OUR tax dollars. Infrastructure due to demand is a benefit to society as a whole.
Thank you BIG OIL. Thank you FREE ENTERPRISE. No need big government aficionado’s…………….
http://www.nytimes.com/2012/05/17/wo…l-says.html?hp
Softening, Merkel Says She Is Open to Stimulus for Greece
By NICHOLAS KULISH and MELISSA EDDY
Published: May 16, 2012
BERLIN — Chancellor Angela Merkel of Germany said Wednesday that she was ready to discuss stimulus programs to get the Greek economy growing again and that she was committed to keeping Greece in the euro zone, signaling a softer approach toward the struggling country.
The fierce rhetorical salvos out of Germany in the past week gave way to conciliatory gestures by Ms. Merkel, who throughout the crisis has shown a propensity for managing through brinkmanship. “I have the will, the determination to keep Greece [...]
For the second day in a row, Mitt Romney trashed President Obama’s record on government spending, suggesting the growing federal debt is going to lead to a “dramatic” tax increase and drag down an already sluggish economy.
Speaking in St. Petersburg, Florida, the presumptive Republican nominee was flanked by a group of seniors and spoke in front of a digital sign ticking off the growing federal deficit.
Echoing his speech in Iowa Tuesday, Romney said the country needs a president who will stop the “spending and borrowing inferno” and insisted he is the man for the job.
While he acknowledged that both parties [...]
The Obama White House is drawing ridicule for appending the official online biographies of nearly every president over the last century in order to link President Obama’s accomplishments to the former commanders in chief.
The Obama team went into the pages of U.S. presidents dating back to Calvin Coolidge to add friendly looking “Did you know?” fact boxes to the end of their bios. Those additions were used to plug a host of Obama administration initiatives, ranging from the health care overhaul to the so-called “Buffett Rule” to his green-energy policies.
For instance, the following line was added to the official bio [...]
http://www.npr.org/2012/05/14/152683…owing-backlash
Europe’s Austerity Plans Face Growing Backlash
by ERIC WESTERVELT
Spanish protesters gathered in Madrid on Saturday as the country’s economic problems continued to worsen. The country’s banking system is seen as particularly vulnerable.
text size A A A May 14, 2012
A political crisis in Greece and economic woes in Spain are again raising concern about the future of the eurozone.
In Athens today, Greek politicians tried again and failed to form a coalition government, though talks are ongoing. There is growing fear that Greece will not be able to remain in the currency union and avoid defaulting on its debts.
In Spain, the health of [...]
In this May 8, 2012 file photo, Republican presidential candidate, former Massachusetts Gov. Mitt Romney speaks in Lansing, Mich. (AP Photo/Carlos Osorio, File)
WASHINGTON (AP) — When Republican presidential hopeful Mitt Romney decried the “prairie fire” of U.S. debt Tuesday, he ignored some of the sparks that set it ablaze.
One was the Great Recession that took hold before Barack Obama became president. That landmark event went unmentioned in Romney’s speech. Another was a series of Bush-era tax cuts that Romney wants to follow with even lower rates.
Instead he laid the blame on Obama, a president who has certainly increased the nation’s [...]
http://fivethirtyeight.blogs.nytimes…idential-race/
May 15, 2012, 8:55 AM
A 30,000-Foot View on the Presidential Race
By NATE SILVER
We are beginning to see more national surveys now, including this week’s New York Times/CBS News poll, which show Mitt Romney with a slight lead over President Obama in the general election matchup. To be sure, there are also a number of polls that put Mr. Obama slightly ahead. But his lead does seem to have narrowed — from about three or four points in an average of national polls a month or two ago to more like a point or so in surveys today.
Has something fundamental changed [...]
Earlier this year, Maryland Governor Martin O’Malley proposed a number of tax proposals, including increasing income taxes,[1] applying the sales tax to gasoline,[2] raising cigar taxes,[3] and doubling the “flush” tax, a septic system levy.[4]
Last month, despite the bevy of options that were suggested, the Maryland General Assembly failed to reach a revenue deal by a matter of minutes before the end of their session. What is traditionally a confetti- and balloon-filled final night celebration was replaced by a stern 1 AM press conference by Governor O’Malley.[5] Since then, O’Malley has called a special session to begin on May 14 [...]
DC
Volcker To Dimon: Just Give Up Your Banking License And We’re Cool (VIDEO)
http://tpmdc.talkingpointsmemo.com/2…ref=fpnewsfeed
BRIAN BEUTLER MAY 16, 2012, 1:22 PM 4635
How’s this for serendipity?
Just a couple weeks before Jamie Dimon announced publicly that his banking firm JPMorgan had lost a stunning $2 billion betting with depositor funds, he took to Fox News to criticize the Volcker Rule, meant to ban federally backstopped banks from engaging in proprietary trading.
Bill Moyers invited former Fed chairman Paul Volcker — the architect of the rule — to respond:
Click on link to listen to video.
With a decision from the U.S. Department of Commerce (DOC) expected this week on whether to impose tariffs on solar products imported from China, several companies – including Dow Corning, Hemlock Semiconductor, GT Advanced Technologies, MEMC, REC Silicon and Suntech America – have announced their opposition to the trade action.
The DOC’s investigation was prompted by an October 2011 petition from SolarWorld and other members of the Coalition for American Solar Manufacturing (CASM), which claim that Chinese manufacturers have dumped their products on the U.S. market, to the detriment of U.S.-based solar manufacturing.
Since SolarWorld’s petition, the Coalition for Affordable Solar Energy [...]
|
|
