Brendan Mcdermid/Reuters Facebook on the NASDAQ Marketsite.Just days before Facebook went public, some big investors got nervous about the social network.After publicly warning about challenges in mobile advertising, Facebook executives held conference calls to update their banks’ analysts on the business. Armed with the new information, analysts at Morgan Stanley and other firms started reaching out to their clients to dial back expectations for the Internet company.One prospective investor was told that second-quarter revenue could be 5 percent lower than the bank’s earlier estimates. Another analyst warned that revenue could be light for the next two years.As investors tried to digest the developments, Morgan Stanley was busy setting the price and the size of the I.P.O.While some big institutions chose not to buy the stock, ... Continue reading →
Human Rights, Religious Groups Deliver Petition Today (Washington, D.C.) – Today, Amnesty International USA, the Center for Constitutional Rights, and the National Religious Campaign Against Torture delivered to the White House a petition of more than 60,000 signatures asking President Obama to extend a formal apology to Maher Arar. Arar is a Canadian citizen who was detained in 2002 by the United States and sent to Syria where he was tortured and imprisoned without charge for a year. Arar was ultimately released and allowed to return to Canada. He was never charged with a crime. Maher Arar, who lives in Canada with his family, expressed appreciation for Americans working on his behalf. “I am very grateful to all those Americans who have worked hard on ... Continue reading →
Mitt Romney is decidedly unpopular. Polling by the Times and CBS News shows his approval rating languishing at around 30 percent. Other polls show voters think President Obama is more likely to have good ideas about improving the economy than Mr. Romney.Peter Hart, the veteran Democratic pollster, wrote in a memo this week that participants in his focus groups call Mr. Romney “indecisive,” “inconsistent,” and a “flip-flopper.”“If he were a member of the family,” Mr. Hart wrote, voters would consider him a “dad who is never home.” The most recent NBC/Wall Street Journal poll, conducted by Mr. Hart and his partner, Bill McInturf, gave Mr. Obama an edge of about 30 points in areas like “cares about average people,” and “compassionate.”Why, then, is Mr. Romney ... Continue reading →