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June 14, 2012

"Never, ever get complacent in risk." That was JPMorgan Chase CEO Jamie Dimon’s reply to Alabaman Senator Richard C. Shelby during his testimony before the Senate Banking Committee. Dimon willingly submitted to questions, regarding $2 billion in losses suffered by the bank’s investment division, from the committee Wednesday. source

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18:01 // 2 years ago
14:42 // 2 years ago

Life at Nokia: Massive layoffs, executive shuffling, lower Q2 profit forecasts

  • execs Nokia Chief Marketing Officer Jerri DeVard, Executive Vice President of Mobile Phones Mary McDowell, and EVP of Markets Niklas Savander will all be shown the door, effective June 30.
  • layoffs The company will layoff approximately 10,000 employees, primarily as a result of plant closures in Canada and Germany, as well as cutbacks to the company’s Devices & Services division.
  • profits Nokia also announced that the layoffs and executive shuffling would mean lower Q2 profits than anticipated. Expected restructuring costs of €1 billion for Q2 tripled to €3 billion. source

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14:16 // 2 years ago
June 13, 2012
Tired of reading about IPOs? How about a Manchester United IPO?
The world’s most famous football club has dropped plans for a $1 billion IPO in Singapore, in favor of an offering in the United States. The team is owned by Americans Malcolm and Linda Glazer, who also own the Tampa Bay Buccaneers and holding company First Allied Corporation. Many fans were already uneasy with new ownership, particularly after MU failed to win a title last year for the first time since 2005. So, United fans, what do you think about the decision to go public? US readers, any interest in the IPO? (Photo by pixeljunkie_) source
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The world’s most famous football club has dropped plans for a $1 billion IPO in Singapore, in favor of an offering in the United States. The team is owned by Americans Malcolm and Linda Glazer, who also own the Tampa Bay Buccaneers and holding company First Allied Corporation. Many fans were already uneasy with new ownership, particularly after MU failed to win a title last year for the first time since 2005. So, United fans, what do you think about the decision to go public? US readers, any interest in the IPO? (Photo by pixeljunkie_) source

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13:52 // 2 years ago
June 12, 2012

Zynga stock nose dive leads to Nasdaq kibosh on short sales

  • $10 Price per share during Zynga’s December IPO, giving the company a total value of $9 billion
  • $4.78 Price per share of Zynga today, leading Nasdaq to halt all short sales of the company’s stock source

»The halt comes less than a month after Nasdaq officials had to stop all trading of Zynga stock, when investors began dumping their share thanks to new fear generated by the Facebook IPO slide. To make matters worse, Zynga saw an 8.2 percent reduction in active users last month. So, do you think the company will be able to bounce back?

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17:27 // 2 years ago
June 8, 2012
The surplus wealth I have has no utility to me. It has all kinds of utility to the rest of the world if used properly.
Warren Buffett: My Extra Money Would Be More Useful To Others (via huffingtonpost)

Buffett should use his money to buy the regional newspaper industry from the fools running it into the ground.

(via huffingtonpost)

14:39 // 2 years ago
June 7, 2012

Rep. Jesse Jackson Jr., House Dems aim to raise minimum wage

  • $7.25 the current minimum wage was set by Congress in 2007 with the passage of a bill raising the minimum by $2.10
  • $10.00 the proposed new minimum in Rep. Jackson’s ‘Catching up to 1968 Act’, which he introduced Wednesday; think it’ll pass? source
17:35 // 2 years ago
June 6, 2012

A look at HTC’s terrible, horrible, no good, very bad day

  • morning Taiwanese smartphone producers HTC were forced to lower Q2 profit forecasts by 13.3 percent on Wednesday morning. The reason? Lowered demand in Europe, and customs issues in the United States related to time-consuming Apple patent lawsuits.
  • afternoon Now rumors are circulating that a lack of faith in HTC’s ability to sell devices, as well as the company’s limited  track record when it comes to tablet development and sales, led to Microsoft’s decision to exclude HTC from the Windows 8 launch. Sorry guys. source

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18:26 // 2 years ago
June 5, 2012

Taco Bell’s Doritos Locos Taco is officially their best-selling product

  • 100,000,000 Doritos tacos ordered in 10 weeks source

» That’s a lot of tacos. Now, the company plans to start testing out shells made from other Doritos flavors, and has confirmed that a Cool Ranch-flavored shell is in the works. Considering that the previous record-holder — the Crunchwrap Supreme — was made a permanent part of the menu in 2006, it seems likely that the Doritos Locos will be around for a while. So, have you tried one yet?

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16:10 // 2 years ago
10:47 // 2 years ago