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03 Feb 2012 17:04

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Biz: Mark Zuckerberg won’t enjoy his tax bill after Facebook goes public

  • $1.5 billion in taxes for the Zuck after Facebook’s IPO source
  • » Why? Zuck plans to sell some of his shares: Back in 2005, Facebook founder Mark Zuckerberg received a set of new stock options for his company. With said company looking to  go public, Zuckerberg will exercise those shares before the IPO, effectively buying them at the price they were worth back then, and sell them after the IPO, effectively setting himself up for a windfall of nearly $5 billion … and one of the largest tax bills in history. It’s not like he’s gonna be broke, though — in fact, he’ll still be worth $24 billion by the end of it, much of that invested in his company. So hard for him, gotta tell you guys.
Posted by Ernie Smith • 0 Comments • Permalink

28 Jan 2012 20:53

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Biz: Greedy investment bankers won’t carve Facebook’s IPO too heavily

  • what Investment banks looking to get in on the upcoming Facebook IPO, expected to be filed for next week, may only take a 1 percent underwriting fee on the stock offering. How abnormal is that? Usually, the investment banking underwriters take 5 to 7 percent.
  • why Simply put, Facebook is such a big deal that the competition is extremely high for it; underwriting it is seen as a prestige move. “The Facebook IPO will be iconic,” notes one investment banker who says that Facebook gets to set the rules on this one. source
Posted by Ernie Smith • 0 Comments • Permalink

29 Nov 2011 00:37

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Tech: Aw, Zucks. We’re hoping this won’t “poke” our portfolios too badly.

  • Want to own a piece of Facebook? You might be able to in the spring of 2012. It looks like, despite founder Mark Zuckerberg’s well-known resistance to the idea over the years, the company is on its way to its “initial public offering” — the sale of stock that a private company makes available to the public. (Groupon just had an IPO, and it hasn’t been going quite so well for them.) The social media trailblazers could raise as much as $10 billion from first-day stock sales; that would put the company’s total value at $100 billion. Not bad for a guy who screwed over most of his friends from Harvard (and a couple of Winklevi) to get there. source
Posted by samimain • 0 Comments • Permalink

27 Dec 2010 14:34

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Biz: H&R Block can’t loan you your tax refund early anymore, guys

  • situation H&R Block offered instant loans to those who didn’t want to wait a couple of weeks to get their tax refund – which often benefited low-income customers.
  • conflictUnfortunately for them, the US government stepped in and forced the bank backing the loans, HSBC, to stop offering them, in part due to their very high interest rates.
  • defeatThe decision was made very late last week, and now H&R Block’s stock is down by a solid 10 percent, because they don’t have a backup for HSBC’s loans. source
  • » A weakened competitive position: Unfortunately for H&R block, that 10 percent drop isn’t the only bad news they have to deal with. See, the IRS informed HSBC and Republic Bancorp that they wouldn’t be underwriting the controversial loans anymore, and wouldn’t be informing tax services which consumers were eligible for said loans. But their top competitor, Jackson Hewitt Tax Service, managed to find other banks to offer the service, so as a result, they’ll have a significant competitive advantage over H&R Block next year – which has caused H&R Block’s stock to lose nearly half its value and Jackson Hewitt to skyrocket 37 percent in recent weeks. Just a tip to our friends who use these loans – their interest rates are predatory in nature, so be careful.
Posted by Ernie Smith • 0 Comments • Permalink

05 Nov 2010 23:18

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Tech: Steve Ballmer decides to cash out some Microsoft shares

  • $1.3 billion, or 12 percent, of Ballmer’s stake sold source
Posted by Ernie Smith • 0 Comments • Permalink

26 Jul 2010 20:22

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Biz: BP drama: Tony Hayward’s heading to Russia – with his pension!

  • $930k the amount he gets from his pension when he quits in October
  • 1 yearthe amount of salary he takes with him, or $1.4 million dollars
  • $15Mthe total value of his pension – plus his life back! source
  • » Plus, there’s more: Hayward also has a sizable amount of stock, and whenever he cashes that out, he’ll be an extremely rich man – he’ll be worth several million.
Posted by Ernie Smith • 0 Comments • Permalink

25 Jun 2010 09:49

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Biz: Oil spill: BP’s stock hits another new oil-drenched low

  • $100
    billion     the amount BP, as a company, has lost since the oil spill began
  • 14
    years     the amount of time since their stock was at this low a level source
Posted by Ernie Smith • 0 Comments • Permalink
 

11 Jun 2010 20:50

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Biz, U.S.: Fun oil spill fact: BP is just as much American as it is British

  • 40% the amount of the company owned by British shareholders; another 40 percent is owned by Americans
  • 7.3% the amount BP’s stock went up in the U.K. after the British government gave them a show of support today
  • 3.5% the amount the stock went up in the U.S. after the announcement; it’s been sucking in recent weeks source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2010 09:17

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Biz: Oil spill-riddled failure BP’s stocks take a massive hit this morning

  • 16% freefall on the London Stock Exchange this morning; oh boy
  • 14% fall in the U.S. in its first session since the top kill failed source
Posted by Ernie Smith • 0 Comments • Permalink

29 May 2010 13:19

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Biz: No May flowers here: For stocks, it was the worst May since 1940

  • 7.9% dip in Dow’s value in the merry month of May source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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