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Archive for August, 2012

Quote of the Day

Sunday, August 5th, 2012 Leave a comment

“We must all obey the great law of change. It is the most powerful law of nature.”

— Edmond Burke

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Sunday Political Cartoon

Sunday, August 5th, 2012 1 comment

Credit: Chris Weyant (The Hill)

 

Source: NBC News

Biggest Losers of the Social Media Bust

Thursday, August 2nd, 2012 Leave a comment

The rapid rise and fall of Facebook’s stock has given us a new financial term: Zucked.

According to CNBC, “Zucked” refers to the sudden wealth loss that occurs when a dot.com stock plunges and the founders see their paper fortunes vanish into the digital ether. It’s like the dot.com bust of the early 2000s – but with a faster cycle of wealth creation and destruction.

Below is a list of individuals who recently got served with a taste of “You got Zucked!”:

  • Mark Zuckerberg – When Facebook debuted, Zuckerberg’s shares in the company were worth around $20 billion. He was richer than the Google guys and was briefly the 29th richest person on the planet. What a difference two months makes – not to mention an earnings miss. Zuckerberg’s paper fortune has fallen by more than $9 billion since May. He’s now worth around $10.8 billion.
  • Dustin Moskovitz – The 28-year-old who helped Zuckerberg found Facebook owned about 133 million shares worth more than $5 billion at the IPO price. Now they’re worth less than $3 billion.
  • Eric Lefkofsky – Lefkofsky invested $1 million with Andrew Mason to launch Groupon. That $1 million stake is now worth more than $830 million. Still, Lefkofsky’s paper fortune in Groupon has fallen by more than 75 percent. His stake was worth more than $4 billion during his IPO honeymoon but his Groupon fortune has dwindled.
  • Andrew Mason – Groupon CEO Andrew Mason has had an on-again, off-again relationship with the billionaires list. Before the IPO, estimates placed his holdings in the company at around $840 million. By the end of November of last year, the shares were starting to slide. They’re now trading at less than a quarter of their IPO value. His current Groupon net worth: around $300 million.
  • Mark Pincus – The shaggy-haired founder of Zynga hit a paper net worth of more than $1 billion when the stock reached its peak of close to $16 a share. Since then , the stock has fallen to below $3 a share. Pincus’s stake is now worth around $270 million.

Source: Zucked Again! Biggest Losers of the Social Media Bust (CNBC, via Yahoo! Finance)

 

Olympic Medal Standings (8/01/12)

Thursday, August 2nd, 2012 Leave a comment

China currently still has the slight edge over the US in total medals. For an interactive view of the standings, see NBC Olympics.

UPDATED: 2:08p ET – 8/1/2012
Country Medalists Gold Medal Silver Medal Bronze Medal Total
See names 17 9 4 30
See names 12 8 9 29
See names 2 4 11 17
See names 5 3 5 13
See names 3 8 2 13