NEWS
May 22, 2012 | Barbara Ortutay and Pallavi Gogoi, AP Business Writers
Facebook was supposed to soar. Instead, it plunged. After the social network's stock fizzled on Friday in its long-awaited debut, its stock fell 11 percent on Monday, even as the rest of the stock market rallied. The downward spiral has left some people sitting on big losses, and others scratching their heads. After all, nothing fundamental has changed at Facebook in the days since the much-hyped company came to the stock market — Facebook still has more than 900 million users, its 28-year-old founder Mark Zuckerberg controls the company, and it is still one of the few...
NEWS
May 16, 2012
When the head of JPMorgan Chase met with shareholders to answer for a trading loss of more than $2 billion Tuesday, it was against an evolving political backdrop: Donors from big banks are betting on Mitt Romney to defeat President Obama and repeal new restraints on risky, large-scale investments. "There's no doubt that there's been a big diminution of support for the president," said William M. Daley, Obama's former chief of staff and a former top JPMorgan Chase executive. "People in the financial services sector are saying, ‘The...
BUSINESS
May 20, 2012
Converting a standard individual retirement account to a Roth IRA is a great way to avoid an unexpected huge tax hit to your nest egg and create tax-free income for future use. Unless it isn't. A Roth IRA's biggest draw is that it allows investors to reap investment gains tax free; that is, contributions are made with after-tax money, and any gains are not subsequently shared with Uncle Sam later. Investors are allowed to convert a traditional IRA into a Roth, so long as they pay taxes - at current rates - on the balance being converted.
NEWS
January 14, 2012 | By Beth Healy
Mitt Romney has long called himself a venture capitalist, experience he says helps him understand the economy better than other candidates for president. But he spent much more of his career in leveraged buyouts than in the investments in start-up companies known as venture capital. Romney's one true venture deal was Staples Inc., the office supply superstore, two years after he started Bain Capital. He wasn't the first to discover Staples; another Boston venture firm introduced him to Staples founder Tom Stemberg.
BUSINESS
May 7, 2012 | Chris Reidy
Facebook Inc. chief executive Mark Zuckerberg is meeting would-be investors as the largest social-networking service begins marketing its initial public offering, said a person with knowledge of the matter. Facebook, after meeting potential shareholders in New York Monday, has arranged meetings in Boston and Palo Alto, Calif., this week. The person who discussed Zuckerberg's attendance asked not to be identified because the meetings are private. CNBC televised footage of a hooded sweatshirt-clad Zuckerberg arriving at the Sheraton New York Hotel.
BUSINESS
May 17, 2012 | Anick Jesdanun, AP Technology Writer
Don't try to friend MaLi Arwood on Facebook. You won't find her there. You won't find Thomas Chin, either. Or Kariann Goldschmitt. Or Jake Edelstein. More than 900 million people worldwide check their Facebook accounts at least once a month, but millions more are Facebook holdouts. They say they don't want Facebook. They insist they don't need Facebook. They say they're living life just fine without the long-forgotten acquaintances that the world's largest social network sometimes resurrects.