Facebook went public today on the NYStockmarket. The stock opened at 11:30 a.m. at $42.05, but soon dipped to $38.01. It briefly traded as high as $45 and by noon was at $40.40. It fluttered throughout the afternoon and hugged the $38 mark for much of the final hour, before closing at $38.23. The 421 million shares that were sold fetched $16 billion and represented 15 percent of the company's stock. Facebook got $7 billion, and the early investors $9 billion. The other 85 percent of Facebook's stock is owned by Zuckerberg and other Facebook executives, employees and early investors. In comparison, Google offered just 7.2 percent of its stock when it went public in 2004. Its stock rose 18 percent on day one. (We are confident that sometimes -poster Tommy008 made a killing today.)
Bill Radke introduced the morning news today in rhyme:
"John Edwards' life? A big disaster.
Ads about Obama's pastor.
Postal Service makes a cut.
Skechers shoes don't shape your butt
Baby names: Michael's fadin'.
Now it's Braden, Aiden, Jayden.
Girls are Mia, also Leah.
Goodbye Britney, hi Sophia.
Most new babies aren't born white.
Women might be allowed to fight.
Facebook's giant IPO --
Is it worth it? I don't know.
It's how Linda stays in touch.
Me and Tangney, not so much.
Tom is watching flicks today --
Film Fest finally underway.
Looking forward to his reviews.
This is Seattle's Morning News."
Speaking of birth rates, for the first time, there are more black, Hispanic and other minority babies being born in the United States than white babies, according to government data released on Thursday that confirm a long-growing trend.
U.S. Census Bureau data show the United States is on its way to becoming "majority minority," with almost half of all young children currently from minority groups, including Hispanic, black and Asian.
Time Magazine this week featured a cover photo of an attractive young mother nursing her young son. Controversy broke out over the fact that the son was about 3 years old and was standing on a chair to reach his lunch. The headline read "Are you Mom Enough?" and arguments erupted on the radio waves over whether or not the boy was too old to still be nursing. (Personally, when our offspring grew teeth, the deal was off.)
Enjoy your weekend!