FACEBOOK IPO LIVE: The social network goes public

It’s Facebook‘s big day.

The site, which was born in a dorm room eight years ago and has grown into a worldwide network of almost a billion people, is making the most talked-about stock market debut in years.

Here’s some of what Associated Press reporters are finding. Check back all day for updates. All times EDT.

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8:41 a.m.

THE KID BILLIONAIRE

Mark Zuckerberg is selling about 30 million shares of Facebook as part of the initial public offering. At $38 each, he pockets $1.15 billion. He will remain Facebook’s largest shareholder, will more than 32 percent of Facebook’s total shares. At the $38 share price, his stake in the company is worth $19.1 billion.

Zuckerberg will control the company with 56 percent of its voting stock as a result of agreements he has with other shareholders who promise to vote his way.

Here’s his bio:

NAME: Mark Zuckerberg

OCCUPATION: CEO of Facebook Inc.

AGE: 28. Born May 14, 1984.

RESIDENCE: Palo Alto, Calif. Grew up in Dobbs Ferry, N.Y.

EDUCATION: Philips Exeter Academy, class of 2002. Studied computer science at Harvard University before dropping out.

PROFESSIONAL CAREER: Co-founded Facebook in his Harvard dorm room in 2004. Has served as CEO since.

FAMILY: Mother, Karen; father, Edward; sisters Arielle, Donna and Randi Zuckerberg.

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8:30 a.m.

NEXT STOP: 1 BILLION

Have a look at how explosively Facebook has grown. According to the company, this is when the site passed milestones for its number of active users, defined as someone who logs on at least once a month:

1 million ? End of 2004.

5.5 million ? End of 2005.

12 million ? End of 2006.

20 million ? April 2007.

50 million ? October 2007.

100 million ? August 2008.

150 million ? January 2009.

175 million ? February 2009.

200 million ? April 2009.

250 million ? July 2009.

300 million ? September 2009.

350 million ? End of 2009.

400 million ? February 2010.

500 million ? July 2010.

608 million ? End of 2010.

750 million ? July 2011.

800 million ? September 2011.

845 million ? End of 2011.

901 million ? March 2012.

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HEDGE FUND VIEW: HE’S IN

Andrew Schneider, a hedge fund adviser and CEO of San Francisco-based Schneider Family Office, was busy selling shares of Apple and LinkedIn on Thursday to free up cash for buying Facebook.

He planned to spend at least $20 million, or 8 percent of his firm’s liquid assets.

“You’ve got 900 million users, and you’ve got real solid revenue, and the company is earning money,” Schneider says.

He’s not concerned about plowing such a large proportion into one company: “We feel very strongly and very comfortably about this.” Nor is he rattled by General Motors’ announcement that it would stop buying display ads on Facebook. He calls that “a very, very small amount.”

Schneider points out that there were naysayers when Google went public in 2004, priced at $85 a share. It closed Thursday at $630.

“A lot of people went on the short side of Google when it opened,” says Schneider, who is also CEO of Global Hedge Fund Advisors. “And boy, were they wrong.”

?Christina Rexrode, AP Business Writer

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HEDGE FUND VIEW: STEERING CLEAR

Whitney Tilson says his hedge fund, T2 Partners, avoids newly public companies as a rule because companies tend to go public only when things are going well.

T2 Partners prefers to look for battered stocks that it can scoop up cheaply. It bought more stock in JCPenney this week. Tilson admits, though, that avoiding initial public offerings doesn’t always work. Google, he says, “turned out to be a great deal.”

Tilson said he expects Facebook’s stock will rise over the long term. Facebook, he says, “does look and smell a lot like Google.”

? Christina Rexrode, AP Business Writer

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INSTEAD OF A RED CARPET, RED INK

Facebook isn’t getting much of a welcome to the neighborhood.

Thursday was one of the worst days of the year for stocks. The Dow Jones industrial average dropped 156 points and has fallen 11 of the past 12 days, mostly because investors are nervous about turmoil in debt-burdened Greece.

The Nasdaq composite, representing the stock exchange where Facebook will trade, fell 2 percent on Thursday. The composite was up almost 20 percent for the year at the end of March, but that gain has withered to 8 percent.

? Erin McClam, Financial Markets Editor

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Evolution of Computers and Technology

When people began to count the numbers, the? thought ?f devices whi?h ??n track th? numbers. The ne?d for a device t? do calculations ?long w?th emergence in commercialism and oth?r human activities started th? evolution ?f computers. Having the r?ght tool to do calculations ha? always b??n significant for mankind. The Abacus ma? be th? v?ry f?rst su?h device and it t?ok hundreds of years to develop the Abacus t? New digital computer. The f?rst computer was created ?s an ordinary calculating machine in 19th century.

With th? transit ?f time, m?ny computing devices th?t include Napier bones ?nd slide rule w?re invented. It to?k man? centuries for th? advent ?n computing devices. In 1642, ? French mathematician, Blaise Pascal invented th? v?ry f?r?t operational automatic calculating machine. The brass rectangular box als? known a? Pascaline, u??d ?ight movable dials to add sum totals ?nd ??ght digits only.

In 1694, German mathematician Gotfried Wilhemvoz Leibniz, extended Pascals design t? d? multiplication, division and ?l?? to find square root. This machine ?s referred to ?? stepped reckoner. The only drawback with this device ?? th?t ?t missed mechanically skillful precision ?n its structure and was n?t reliable.

The actual origin computing device ?? created by ?n English mathematician Charles Babbage ?n 1822. He proposed an engine t? d? difference equations, kn?wn ?? a difference engine. It ?ould possibly print results automatically. Nevertheless, Babbage never quite made a fully functional difference engine, ?nd ?n 1833, he stopped working ?n it ?t once.

In 1889, Herman Hollerith, ?l?? employed th? Jacquards Loom concept t? computing. One early success w?? th? evolution ?f the ENIAC (Electronic Numeric Integrator ?nd Calculator). After wards, EDVAC (Electronic Discrete Variable Automatic Computer) w?s invented. It wa? f?rst computer produced by John Von Neumann. In the year 1949, EDSAC (Electronic Delay Storage Automatic Calculator) wa? developed by Maurice. Eckert-Mauchly Company invented UNIVAC (Universal Automatic computer) in 1951. In 1960, fastest electronic computer t? access the time scale of 1 micro ????nd and ? total capacity ?f 100,000,000 words wa? evolved. During 1970s, th? vogue f?r inexpensive computers made ???s?ble b? integrated microchips (IC) ?nd Microprocessors. These days utilizing VLSI (Very Large Scale Integrated Circuits), whi?h are programmed us?ng READ ONLY MEMORY is made. It ?ould handle 32 bits ?t once, and can process 4,000,000 instructions ?t a stretch.

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Apartment Careers: Executive – Property Management jobs, Multi …

Regional Supervisorneeded immediately for a large and growing real estate management company with a strong family environment that promotes individual professional development.? We pride ourselves in employee longevity where our team of management professionals strive daily to manage our assets to the very best of our ability.?

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This senior level professional would oversee 900 Project Based Section 8 Units in the Houston area.?

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Responsibilities include but are not limited to the following:

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-Training, managing and motivating property management staff

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-Accomplish financial objections by forecasting requirements, preparing annual budget, scheduling expenditures, analyzing variances, initiating corrective action

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-Ensure the delivery of great customer service to residents

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-Ensure physical guidelines are achieved at each property in accordance with ownership

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-Manage bids and negotiate contracts

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-Update job knowledge by participating in education opportunities and professional organizations

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Qualifications:

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-Previous supervisory experience in property or affordable housing management is a plus.

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-Experience being accountable for financials.? Must be able to develop and manage budgets.

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-Knowledge of guidelines and procedures for Project Based Section 8 Program including Fair Housing, REAC, MOR, EIV and HUD criteria is a plus.

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-Ability to multi-task, meet deadlines, and handle pressures of fast paced industry.

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-Must be detail-oriented, flexible and a self motivator

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-Strong leadership and communication skills required

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Advantages And Disadvantages Of Credit Card Cash Advance …

Credit card cash advance is a service similar to using an ATM card. It allows using your credit card along with the ATM credit card?s PIN in order to withdraw the necessary funds rather than using a check or debit card, or applying to payday lenders. In fact, when you withdraw funds from a check or debit card, you use your own money.

However, credit card cash advance allows you to get access to the borrowed funds stipulated in your credit agreement. It is your daily cash limit, your overall credit card limit and the total cash advance limit that your credit card company is authorized to apply for that determine the amount you can borrow. It is important to understand that this type of borrowing implies high interest rates along with associated fees and the schemes that some companies use to get this money back.

Cash advances may also be delivered in a form of checks. Some companies send their clients such checks by mail, but when the customers use them to pay for anything, the same scheme as for credit card cash advance is being applied. So, if you use credit card cash advance, you should understand how this transaction will be processed. To be honest, it is not the most profitable financial service you can apply for.

The Schumer Box can be a good example of the rates and fees associated with cash advance transactions. Just look at your credit card statement in order to see your Schumer Box, or review the cash advance checks you have previously received. There you will find the rate applied to each of your cash advances.

You should also pay attention to any ATM fee included into withdrawal. It is also important to understand that the interest charges associated with cash advances take place when you start withdrawing money. Unlike making purchases or taking business loans, no grace period or delay is provided for credit card cash advances. Some companies used to add your payments to your card balance with the lowest interest rate. However, this is illegal according to the new credit card regulations. If you do have a cash advance, your credit card company must charge this payment first, as it has the highest interest rate.

So, how can you get the most benefit from cash advance? Firstly make sure that:

1. You understand the terms and conditions of your credit card, as well as its fees, credit limit and the way the balance is paid back.
2. Your credit card has zero balance and a free ATM.
3. You will be able to pay in back quickly.

Of course, there are other ways to get money fast, like consignment shops, equity credit line, bad credit payday loans for unemployed or peer-to-peer lending. Some of them are not as expensive as credit card cash advances. However, none of these schemes will provide you with extra cash in case you don?t have a debit card by your side.

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You shouldn't be a Fat Cat Make use of a Cat Tree | Natures Pet

You shouldn't be a Fat Cat Make use of a Cat Tree

Designs bring lots of good things about cats as well as their owners. A dog owner benefits by continuing to keep their cat safe, happy, and fewer visits towards the veterinarian; thus, keeping more income within their pockets. Some good things about pets include their have to satisfy their curiosity. Also, cat furniture looks after a pet in good physical shape through daily exercise. Cat furniture keep the pet engaged and from boredom.

The word ?curiosity killed the cat? might be true in case your pet?s innate curiosity put him/her in dangerous situations. A few of these dangerous situations, include getting your pet get into a wide open door to some washer or dryer, and also you switch it on without having to be conscious of your cat being inside. The cat tree aids in your dog?s curiosity supplying crannies that cats like to cuddle up in and investigate. A dog owner really wants to have the ability to satisfy their pet?s curiosity and also to have them safe. Designs offer these two options.

Designs keep the pet healthier through daily exercise. Unlike the cat within the wild who stay exercised daily for food and survival; today?s indoor cat needs help with keeping moving. Indoor pets are in greater risk for diabetes and obesity. In addition a danger for your pet?s health, it?s a risk for your pocketbook, because you can pay more for your veterinarian and pet medication. Daily exercise keeps your dog?s eyes and
coat shinier. Your cat?s behavior improves, and that he becomes smarter through daily exercise.

Finally, designs help to keep your dog engaged and fewer bored. The cat within the wild must stay engaged to outlive. A home pet must stay engaged to remain from trouble. Cat furniture keeps your dog engaged. An unengaged pet can wreak havoc within your house. Don?t let yourself be surprised in the future the place to find shredded furniture, curtains, or items which are broken. An engaged cat is really a happier pet. Cat furniture might help enhance your pet?s disposition.

As mentioned through the article, advantages of using a cat tree will be to both cat and also to his/her owner. The advantages towards the cat include satisfaction appealing, keeping engaged, and staying in good physical shape by exercising. The advantages towards the owner are keeping your dog safe, keeping your dog happy, and keeping your dog healthy from obesity and diabetes. This prevents your pocketbook fatter. So don?t own a fat cat, buy cat tree!

Tags: be a Fat Cat Make, Cat Tree, use of a, You shouldn’t

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Apple Changes Siri’s Answer to ‘What’s the Best Smartphone Ever?’

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‘X Factor’ may be singing “Oops!…” over Britney

LOS ANGELES (Reuters) – Simon Cowell and Fox television are gambling on pop icon Britney Spears and teen singer Demi Lovato to revive “The X Factor“, but for many media watchers it could be a case of “Oops!…” did they do it again?

Spears, 30, and former Disney Channel star Lovato, 19, are expected to bring in bigger, and more importantly younger, audiences when the singing contest returns for its second season on U.S. television in September after a weaker-than-expected debut in 2011.

But whether viewers will tune in is less certain, and the huge check Fox and the producers wrote – Spears is reported to be getting $15 million for one season – may not pay off, pop culture and TV experts say.

“It’s a short term gain for ‘X Factor’. There will be a huge amount of PR and when the show premieres there will be huge ratings,” said Lyndsey Parker, managing editor of Yahoo! Music. “But I think it could be a disaster. I think Britney could make Nicole Scherzinger look like a genius,” Parker said.

Spears, who became a teen sensation with hit records such as “Oops! … I Did It Again,” suffered a career and personal meltdown in 2007 but later rebounded. Now, at age 30, the “Womanizer” mom of two is mostly shielded from the media and rarely gives live interviews.

Andy Dehnart, editor of RealityBlurred.com, said many viewers will likely tune in just to “see her crash and burn.”

“It’s not clear she is really a TV personality and somebody who can give the show what it needs, which is really insightful, concise, witty critiques of these singers,” Dehnart said.

“I really don’t think it’s going to work, but I am hopeful that Britney will surprise us,” he added.

FACTORING IN THE CHANGES

“X-Factor” came into its first season last year with high expectations but failed to reach them. With former “American Idol” judge Paula Abdul and ex-Pussycat Doll Nicole Scherzinger on the panel of mentors/judges, Cowell had boasted his new show would oust “Idol” as the most-watched show on U.S. television.

His claim rang hollow when “X Factor” drew only about half the “Idol” audience over its first season, and critics slammed it for being noisy, stale and over-produced.

Spears and Lovato were hired to fill the slots left by Abdul and Scherzinger, who were fired in January with Steve Jones, a British presenter who was seen as wooden and flustered.

Cowell said the new panel “will be dynamic and will work really well with the changes we are making to the show,” but he did not spell out what those changes will be.

Hitfix.com music blogger Melinda Newman questioned whether Spears will sizzle on live television the way she does on her highly-produced records and in her well-choreographed concerts.

Spears may flail on a TV show in which the best moments happen when judges speak off the cuff and often deliver harsh news to aspiring singers who don’t make the grade, experts said.

“You are saying to someone, ‘you may succeed but your dream of succeeding through us ends here.’ That is emotional pressure and that is hard to do,” said Newman.

“The public has not seen Britney in an environment where we would know if she is able to withstand that level of pressure and have to think very quickly on her feet,” she added.

Lovato, 19, the former star of Disney Channel‘s “Sonny With a Chance”, is seen as a draw for Latino viewers because of her Mexican, Irish and Italian descent. She also will be the youngest judge on a U.S. TV talent show, and that is key because broadcast TV networks try to lure younger audiences whom advertisers covet for their spending power.

But TVLine.com writer Michael Slezak said Lovato’s resume was “as light as beaten egg whites” and questioned whether the teen was ready for the spotlight of a high-profile of a TV show after her 2010 stint in rehab for eating disorders and cutting.

Also raising eyebrows has been Spears’ reported $15 million salary – more than five times what Abdul was earning – especially since Cowell has yet to find a capable host to replace Jones.

“If that $15 million is an accurate figure, it makes no sense,” said Dehnart. “To give that to someone who is unproven on a show is really a disaster (and) seems absurd to me.”

Despite some misgivings, Newman felt Spears would be good for the show because Cowell needed a top celebrity who is going to bring viewers. “He needs someone on the level of Christina Aguilera or Jennifer Lopez,” she said, referring to the judges on rivals “The Voice” and “American Idol,” respectively.

Still, Newman said “X Factor” needed more than celebrities to keep audiences coming back two nights a week for four months.

“The inherent problem with any of these shows it that you are only as good as your contestants. That is catching lightning in a bottle and getting a Susan Boyle,” said Newman.

“If you watch the show, you are watching because you are invested in these acts.”

(Reporting By Jill Serjeant; Editing by Bob Tourtellotte and Christine Kearney)

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California facing higher $16 billion shortfall (Providence Journal)

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Review: Geva delivers again with ?Company’ (Rochester Democrat and Chronicle)

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Skull linked to Utah Scout killed in 1961 flood (Providence Journal)

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