SocGen chart showing where Cyprus will rank on a list of history’s biggest bank bailouts (as a % of GDP).
Puts bank bailouts in perspective.
Finance, Markets, Economics, Tech, Venture Capital. Let's gentrify tumblr. Big fan of the 'reblog' function but not afraid to post own ramblings when I have something to contribute.
Facebook IPO filed on S-1 Form. Facebook will trade under the symbol FB. The IPO is for $ 5 billion for company value $75-$100 billion. Lead bookrunner is Morgan Stanley, supported by Goldman Sachs, Bank of America, Barclays Capital, and Allen & Company. Details: Facebook’s revenue 2011 is $ 3.71 billion, net income $ 1 billion, gross margin 47%, cash at hand $ 3.7 billion. Mark Zuckerberg’s salary was $ 500,000 and total compensation $ 1,500,000. COO Sheryl Sandberg and CFO David Ebersman each pulled down $300,000 in base salary, but $30.8 million and $18.7 million, respectively, in total comp.
Read more at Dan Primack’s blog at Fortune
A senior Vatican official who was transferred after he exposed a web of corruption begged to be allowed to continue his crusade and denounced a “vulgar and insolent” cleric behind a plot to destroy him, according to a leaked letter on Friday.
"We believe that the next step in copying will be made from digital form into physical form. It will be physical objects. Or as we decided to call them: Physibles. Data objects that are able (and feasible) to become physical. We believe that things like three dimensional printers, scanners and such are just the first step. We believe that in the nearby future you will print your spare sparts for your vehicles. You will download your sneakers within 20 years."
The Eurozone just got clobbered like baby seals by the rating agencies. Almost everyone has been downgraded by one or two notches, with some having a 1 in 3 chance to be downgraded again in 2012/2013 and placed on Negative Watch. The only survivor is Germany with a sterling rating, no negative watch, no downgrade.
2012 will be an interesting year.
What is the real price of an iPad?
Foxconn Employees Threaten Mass Suicide
Foxconn, the world’s largest electronic component maker (think: Apple, Amazon, Nintendo, Dell, Panasonic… well, you get the point) is not a nice place to work. So rampant have the suicides been that last year the company made workers sign pledges not to kill themselves.
Via The Atlantic Wire:
As American consumers ogle over shiny new gadgets at this week’s Consumer Electronic’s Show, the workers that make those products are threatening mass suicide for the horrid working conditions at Foxconn. 300 employees who worked making the Xbox 360 stood at the edge of the factory building, about to jump, after their boss reneged on promised compensation, reports English news site Want China Times. It’s not like this is the first time working conditions at Foxconn have made news outside China. But iPhone and Xbox sales surely haven’t lagged in the wake of those revelations and neither Apple nor Microsoft has done much of anything to fix things.
As The Atlantic Wire points out, this week’s This American Life features a trip to a Foxconn factory in Shenzhen, China where approximately 350,000 to 450,000 people are employed.
You can listen to the episode here.
Image: Workers at Foxconn via China Southern Weekly
Note: In the This American Life episode, Ira Glass talks with Ian Spaulding, founder and managing director of INFACT Global Partners, which goes into Chinese factories and helps them meet social responsibility standards set by Western companies, and with Nicholas Kristof, columnist for The New York Times who has reported in Asian factories.
In the podcast and streaming versions of the program, Ira also speaks with Debby Chan Sze Wan, a project manager at the advocacy group SACOM, Students and Scholars Against Corporate Misbehavior, based in Hong Kong.
"Stop designing the compromises you expect to have to make. Your fear of being wrong wins out over your fear of having to convince someone you’re right."
With the risk of being unfollowed, here’s yet another quote…