Daily Archives: May 18, 2012

Facebook Stock Goes Public: History in the Making or Mere Hype?

May 18, 2012   Olga Hajishengallis   No comments

Photo Credit: http://mashable.com/

Earlier today, Facebook CEO Mark Zuckerberg signaled the launch of Facebook’s IPO (Initial Public Offering) all the way from the company’s headquarters in California.

Considered to be the “richest-ever IPO for a technology firm”, this debut is said to place huge investment opportunity in the company, as Facebook’s IPO is predicted to outperform that of Google.

Lagging behind the value of only Google and Apple, Facebook is selling 180 million shares, while the remaining 241 million are being sold by early investors. Each share is initially priced at $38. Also, Zuckerberg will maintain “55.8% of the voting power of Facebook shares and over 18%” of the value of the company.”

On the other hand, some experts have maintained their skepticism over exactly how Facebook will be able to translate their immense popularity into monetary gains, especially in a rapidly changing technological era. Reasons for this lack of confidence in Facebook stock include concerns over privacy, uncertainty as to how to attract more users, and the current ban of the networking site in China. Another concern relates to the increasing use of mobile phones to access the site in which advertisements do not show up as they do when accessing Facebook via web.

With over 900 million users, nonetheless, some argue that Facebook provides great “potential” to become a profitable business model.

The latest updates report that the stock price  has failed to match the momentum surrounding it, as it is currently “wavering” approximately only $3 above the initial share price.

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Yankees Player Has Blood Clot

May 18, 2012   Joanelle Navarro   No comments

Photo Credit: www.nj.com

New York Yankees player Mariano Rivera has a blood clot in his right calf.

This is just the latest health problem for the longtime Yankees closer.  A few weeks ago, he had tore a knee ligament during batting practice.

Rivera has been put on blood-thinning medication, which is intended to dissolve the clot.  He has been advised to spend at least a week or two to strengthen his knee prior to surgery being done to repair his knee ligament.

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Elizabeth Edwards wanted Husband’s Mistress Gone

May 18, 2012   Joanelle Navarro   No comments

Photo Credit: www.abcnews.go.com

According to new testimony in the John Edwards case, his wife, Elizabeth Edwards just wanted his mistress to disappear.

Elizabeth Edwards, who died in 2010 from cancer, reportedly had been upset over the fact that two political donors were still maintaining contact with her husband’s mistress, Rielle Hunter, in 2007.  During a meeting with Fred Baron and his wife, Lisa, in 2007, Elizabeth Edwards she railed them for flying Hunter to Beverly Hills for a shopping spree.

Jennifer Palmieri, a former campaign advisor, stated that the Baron’s wanted to keep the relationship going between Hunter and Edwards because she “was a loose cannon.”

Edwards, 58, is currently on trial for accusations of violating federal election laws, after he solicited $900,000 in illegal campaign contributions, while he ran for the 2008 Democratic presidential nomination.

The federal government believes he used the funds to cover up his affair, since he knew that if it got out to the media that he was cheated on his cancer-stricken wife and had fathered a child with Hunter, his campaign would be destroyed.

The current issue at hand is whether Edwards had known about the efforts by campaign supporters to keep the affair hidden, or if he only had become aware much later.

The government is arguing that the money should’ve been reported as political donations, and not be characterized as campaign contributions, since the funds came from one private third party.

Edwards has pleaded not guilty.  However, if he is found guilty, he faces up to five years in prison and a $250,000 fine for each count he is convicted of.

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New Sanford Police Chief Hopes to Rid of Racial Tensions, Amongst Trayvon Martin Case

May 18, 2012   Joanelle Navarro   No comments

Photo Credit: www.telegraph.co.uk

The new Sanford police chief has stated that he wants to ease racial tensions between his officers and the African-American community.

Richard Myers, 58, took over the role of chief from Bill Lee, who has been placed on leave due to criticism over how he handled the Feb. 26 shooting of Trayvon Martin.  In the case of Trayvon, the 17-year-old was shot by George Zimmerman, a neighborhood watch volunteer.  Prosecutors and critics alike believe that Zimmerman racially profiled Trayvon because he was black.

Due to the case, the city of Sanford, in Florida, has been thrust into the national spotlight.  Myers says that he would like to bring confidence back into their community.

“It’s apparent to me that there is some tension here between the African-American community and the police.  I think both the community and people of the police department want to improve that.  I’m going to do whatever I can to help facilitate strengthening that connection,” Myers said.

While the new chief doesn’t have any plans right now to deal with racial issues, he says that he’s going to leave some of it up to residents and officers to develop a plan of action.  He also wants to look into neighborhood watch groups.

“I’ve never heard of a neighborhood watch program that authorizes people to carry guns,” Myers said.

On Feb. 26, Trayvon was shot and killed as he returned to a gated community.  His family believes he was followed by Zimmerman, 28, because he deemed him “suspicious” thanks to the teenager being black and wearing a hoodie.

Zimmerman, who is half Hispanic, has stated that he shot Trayvon in self-defense.  He currently has been charged with second-degree murder.

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