Software developer fired after bosses learn he outsourced his work to China and spent ALL DAY surfing the web

Began day by looking at cat videos and Reddit for two hours
Took 90-minute lunch breaks

Also wasted time on eBay, Facebook and LinkedIn
Paid Chinese consulting firm $50,000 to do his work for him
Was praised for being ‘the best developer in the building’ and was described as ‘Someone you wouldn’t look at twice in an elevator’

 

It was nice work while it lasted.

A software developer making six-figures was fired after his bosses learned [...]

Black Friday, Cyber Monday referrals through social media have declined 26% since 2011

Even as retailers debate the efficacy of social-media marketing on Facebook and Twitter, they have no doubts about the power of a decades-old technology to drive sales. The killer app is called e-mail.

Retailers as disparate as Williams-Sonoma Inc. (WSM) and Home Depot Inc. (HD) have become much better at tailoring e-mails to specific customers rather than the one-size-fits-all blasts that once dominated this type of marketing. Measured by sales per dollar spent, e-mail outperforms [...]

Now you can get insured against being hacked: Insurers offering specialist cover for attacks on Facebook and Twitter

Hacking can cause huge damage to individual’s image
Insurance against reputational damage and ID theft
Cover costs £3.99 per month and pays for legal advice

‘Internet troll’ and ‘Facebook hacking’ are terms few had heard of until recently.

But now online abuse and identify theft have become so common that social media users are being sold specialist insurance to help protect their reputation in case of an attack.

Hacking of Facebook, Twitter, LinkedIn and other social [...]

Now Facebook wants your number: Social network to ask 900 million users for phone details to ‘prevent’ LinkedIn-style hack

Move is part of a drive to improve security on Facebook
It comes in the wake of password hacks at other networking sites including LinkedIn and eHarmony

Facebook is asking each of its more than 900million active users to provide it with their mobile phone number.

The move is part of a drive to improve security on Facebook, and comes in the wake of much-publicised password hacks at other networking sites including LinkedIn [...]

Intimate details of ‘up to 1.5 million’ eHarmony users put at risk as mass hacking that affected LinkedIn spreads to dating website

Californian based eHarmony, one of the world’s most popular online dating websites has admitted the personal passwords of some of its customers were hacked and posted online.

The company which has over 20 million registered users confirmed that passwords had been compromised but did not confirm the exact number, although some technological experts have put the figure at 1.5 million.

‘After investigating reports of compromised passwords, we have found that a small [...]

Change Your LinkedIn Password Right Now!

6.5 million encrypted LinkedIn passwords have leaked, reports Norwegian IT site Dagens IT (found via The Next Web).

The passwords were shared via a Russian hacker site, and security researcher Per Thorsheim confirms that the leak is legit.

LinkedIn hasn’t offered any statement on the incident at the time of this writing, but we would strongly suggest changing your password.

Click here to learn how to change your LinkedIn password >

Click here to check if your password has been hacked [...]

WARNING TO ALL LINKEDIN MEMBERS

AFP – LinkedIn acknowledges password breach

The professional social network LinkedIn said Wednesday some of its members’ passwords were stolen after reports said more than 6.4 million accounts were breached.

“We can confirm that some of the passwords that were compromised correspond to LinkedIn accounts. We are continuing to investigate this situation,” LinkedIn director Vicente Silveira said in a blog post.

Silveira said passwords on the compromised accounts were no longer valid, and [...]

Protest groups converge to denounce secretive Bilderberg conference

Ryan Devereaux 
London Guardian
June 2, 2012

The gathering outside the Westfield Marriott hotel in Chantilly included Ron Paul supporters, Occupy veterans, members of the 9/11 truth movement and Oath Keepers, a Tea Party-affiliated group comprised of military and law enforcement officers.

Carrying signs with messages such as “Humanity is winning” and “Warning to secret societies: you are pissing off American patriots. We have machine guns also,” the 200 or so protesters could only [...]

The Facebook IPO Screwup Could Be Curtains For NASDAQ

It’s hard to overstate how big a disaster the Facebook IPO has been for NASDAQ, one of the United States’ two big stock exchanges.

 

People often forget that the NASDAQ and New York Stock Exchange (NYSE) are private companies, just like the companies that list on them. As such, the exchanges compete fiercely for “clients”—which in this case are public companies looking for a place to list their stocks.

15 years ago, in [...]

WSJ Social media stocks: LinkedIn is down 2.6%, Groupon is off 6%, Pandora is down 5%, Zynga is down 6.5%.

via WSJ

Pinterest now the THIRD most popular social media network beating LinkedIn and Tumblr

While Friending and Tweeting may still be the most common actions among the social media savvy, Pinning is becoming more and more popular as well.

Pinterest, the picture-sharing program that allows users to essentially create ‘vision boards’ of their favorite things, is now the third most popular social network based on visits from American users.

In place after Facebook and Twitter, Pinterest had 104,415,903 unique visits last month alone.

Presidential Pinterest: Mr Obama’s [...]

Changed your mind? PayPal co-founder who dismissed university as waste of time and offered students cash to drop out to teach at Stanford

He has famously lambasted the value of a university education and has even offered students cash to drop out.

But now PayPal co-founder Peter Thiel is doing the unthinkable: he’s teaching a class at one of the country’s top educational institutions.

Thiel, who has invested bundles of cash in startup companies in Silicon Valley, will teach ‘Computer Science 183: Startup’ at Stanford University.

Yet students should not be fooled that this is his [...]

How A Comment On A Blog Turned Into A Cool New Startup With Big-Time Investors

by Alyson Shontell

William Mougayar is somewhat of a commenting addict.

The Canadian entrepreneur, who formerly worked for Hewlett Packard, loves to engage in conversations on blogs.

He isn’t a mean-spirited troll. He loves starting conversations and anxiously awaiting responses from other readers. Sometimes those conversations turn into real relationships, says Mougayar.

When you comment as much as Mougayar does, it becomes hard to keep up with discussions.  So he came up with a tool [...]

Facebook to File Wednesday For $5 Billion Stock Offering

Facebook is expected to file initial paperwork with regulators on Wednesday morning for a $5 billion initial public offering.

The social networking site, founded by Mark Zuckerberg in a Harvard dorm room in 2004, has hired five underwriters, with Morgan Stanley [MS  18.65    0.45  (+2.47%)   ] taking the lead role.

Goldman Sachs [GS  111.47    1.74  (+1.59%)   ], Bank of America Merrill Lynch [BAC  7.13    0.06  (+0.85%)   [...]

People Are Shorting Groupon Like Crazy, Short Sellers Borrowed Nearly All The Available Shares

Image: NASDAQ

From FT:

 

Short sellers have targeted Groupon in the days after its initial public offering, as they did social network LinkedIn after its debut earlier this year.

The online coupon seller sold shares last week and saw them jump 31 per cent from their $20 IPO price in the first day of trading.

 

The shares were still 21 per cent higher by Thursday. But, when it first became possible to short the shares this [...]

Banker Gets Probation And Community Service For Stealing Meat Slicer From Foreclosed Inn

Image: Wikipedia

Shawn DeCelle, a former bank agent, admitted he stole a meat slicer, bowls, chairs, steamer trays and a bunch of other stuff from a foreclosed bed and breakfast in upstate New York, AP reported. [via WSJ]

 

DeCelle, 44, stole the items from Marie’s Dream House in West Kill, Greene County, which was under foreclosure, AP reported.

Although it sounds ridiculous, it’s some pretty serious stuff.

Those items were technically the property of his former [...]

Rogue trader lost $2 billion

(Reuters) – Swiss bank UBS said a trader had lost it around $2 billion in unauthorized deals, and police in London arrested 31-year old Kweku Adoboli in connection with the case.

Adoboli — a director of exchange traded funds and “Delta 1″ working in the bank’s London office, according to his profile on networking site LinkedIn — was arrested on suspicion of fraud, sources told Reuters.

“I can [...]

Dot Com Bubble Again? Game Maker Zynga’s IPO Seeks $20 Billion Value With 94% of Revenue Come From Virtual Products

Zynga Inc., a company that sells imaginary tractors and other make-believe goods in online games, plans to raise some very real money from public investors.

After weeks of speculation, the San Francisco start-up—maker of “FarmVille,” “CityVille” and other games played on Facebook’s website—on Friday filed for an initial public offering in a deal that could value it as high as $20 billion, said people familiar [...]

Poll: Many say economy is in permanent decline

(Credit: CBS)

CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto.

In a sign of increasing pessimism about the direction of the U.S. economy, roughly four in ten Americans now believes it is in permanent decline, according to a new CBS News/New York Times poll.

The percentage that sees the economy as in permanent decline has increased [...]

Survey of small biz owners shows 75% R motivated by passion

ST. PAUL, Minn.–(BUSINESS WIRE)–Deluxe Corporation (NYSE:DLX) today announced the results of a new small business survey, answered by more than 500 respondents through PartnerUp, the first, and one of the largest online social networks for small business owners and entrepreneurs. The Deluxe survey results reveal a [...]

It’s official: Twitter buys TweetDeck for $40 million

(AP) – With rumors swirling for days, it comes as no surprise that Twitter announced the acquisition of TweetDeck, which lets Twitter users organize the brands, celebrities, news feeds and people they “follow” on the platform. Users can also monitor their Facebook, LinkedIn and other social media accounts. Analysts said the deal makes sense.

Twitter says it has bought TweetDeck, a London-based startup that helps people [...]

QE2 was a bust – Economic data is worse than before

By Brett Arends, MarketWatch

 

BOSTON (MarketWatch) — It‘s cost $600 billion of your money. And it was supposed to rescue the economy. But has Ben Bernanke’s huge financial stimulus package, known as “Quantitative Easing 2,” actually worked as planned?

 

QE2 is being wound down in the next few weeks. Fed Chairman Ben Bernanke has said it has left the economy “moving in the right direction.”

But an analysis [...]

Russian Internet search engine Yandex to price its IPO at $25 a share, valuing company at $8 billion – NYT

Less than one week after LinkedIn’s blockbuster debut, Wall Street is gearing up for the initial public offering of yet another multibillion-dollar Internet start-up.

Yandex, one of Russia’s largest Web companies, will price its offering at $25 a share, well above expectations, according to a person briefed on the deal who was not permitted to discuss the offering. The Moscow-based company, which is set to go [...]

Analyst: QE2 has created maybe 700,000 full-time jobs — at a cost of around $850,000 each.

BOSTON (MarketWatch) — It‘s cost $600 billion of your money. And it was supposed to rescue the economy. But has Ben Bernanke’s huge financial stimulus package, known as “Quantitative Easing 2,” actually worked as planned?

QE2 is being wound down in the next few weeks. Fed Chairman Ben Bernanke has said it has left the economy “moving in the right direction.”

But an analysis of the real numbers [...]

China now world’s biggest buyer of gold

Chinese investors are snapping up gold bars and coins, buying more than ever before in the first quarter of 2011 and overtaking Indian buyers as the world’s biggest purchasers of the metal.

China’s investment demand for gold more than doubled to 90.9 metric tons in the first three months of the year, outpacing India’s modest rise to 85.6 tons, the World Gold Council said in its [...]

Shares of LinkedIn Corp open more than 80 percent above their IPO price in public trading debut, continue rising

LinkedIn Corp., the largest professional-networking website, more than doubled in the first day of trading after its initial public offering.

The stock surged as much as $47.99 to $92.99 and traded at $83.32 at 10:05 a.m. in New York Stock Exchange composite trading. The Mountain View, California-based company sold 7.84 million shares at $45 each, according to a statement released yesterday. The company had raised the proposed range for the share [...]

LinkedIn IPO

LinkedIn Prices IPO At $32 To $35 Per Share; Expects $146.6M In Net Proceeds From Offering

After disclosing its intention to list its IPO on the New York Stock Exchange under the symbol LNKD, LinkedIn has released a new filing with the SEC that shows that it is pricing its IPO between $32.00 and $35.00 per share. LinkedIn filed its initial S-1 in January, with the total offering amount of $175 [...]

Job Hunting – Voices from fresh college graduates:

I graduated with a B.S. in Physics in December of 2009. I had lost my part-time job in January of 2009 that I was using to supplement my student loans that I was using to support myself during college. After graduating I could not find a job. Since I was only employed part-time I didn’t qualify for unemployme­­nt insurance. I sent out over 200 resumes, attended job fairs, trade shows, [...]

LinkedIn launches social news product

From Reuters:

LinkedIn, the Internet social network for professionals, launched a service on Thursday that creates a customized online newspaper from articles being shared by the network’s more than 90 million members and by users of Twitter.

The new service, called LinkedIn Today, displays excerpts of the most popular articles in various industries, in a move that the company hopes will spur users to interact [...]