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(Business Insider)   Investors who are surprised to have lost money on the Facebook IPO obviously didn't bother to read the IPO document where it tells them that Facebook's revenues are on the decline   ( divider line
    More: Amusing, Facebook IPO, Mark Zuckerberg, IPO, Facebook, prospectus, decline, revenues, shareholders  
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1646 clicks; posted to Business » on 04 Sep 2012 at 3:00 PM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-09-05 03:11:51 PM  
In the 9 months following the IPO, insiders would be free to sell more than 2 billion shares of Facebook that they had been holding for years.

February-ish 2013 should be interesting then.
2012-09-05 11:30:45 PM  

NeedleGuy: A simple google search comes up with this information:

Early this month the state's Legislative Analyst's Office reported that because of the near 50% decline in Facebook stock from its $38 a share offering price, "hundreds of millions of dollars of income tax revenue assumed in the state budget plan are at risk." It'll be even worse if other young tech companies don't go public or do so at lower valuations. The Facebook falloff comes after state tax collections in the first half of 2012 had already fallen $3.5 billion below earlier estimates.

Despite this, the State Legislature and Governor Brown have approved funding high-speed rail, took a weak jab at reforming public employee pension plans and assign their greatest hope to the passage of a "temporary" tax increase on the November ballot.

So basically Jerry Brown cooked the books by factoring in a $38/share facebook value along with a currently non existent tax increase. I am sooooo hoping that tax increase gets voted down this November.

Did you miss the part where he was asking about Oregon, NOT California?
2012-09-05 11:31:20 PM  

Rent Party: intelligent comment below: Rent Party: Is Occupy still a thing? I thought the all got bored and went home when their iPod batteries died.

Go fark yourself

Did your iPod battery die?

Simple opinions for simple minds
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