“I went into this not even thinking about that possibility,” he said. “The big guys made out, and it seems the little guys got burned.”A week after Facebook shares made their debut, the details of what went wrong with the sale are still unclear. Facebook is under fire for misjudging demand and pricing the stock too aggressively. Morgan Stanley, the lead IPO underwriter, has been accused of lowering its price estimates at the last minute but only sharing the information with select clients. Technical glitches on the Nasdaq exchange confused investors, who didn’t know the status of their bids. On Thursday, during a conference call with its brokers, Morgan Stanley said it would review its orders from the stock’s opening day and compensate investors who ... Continue reading →
Associated Press NEW YORK — Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar with the matter. This person said the firm is reviewing orders its retail clients placed for Facebook stock, and will make price adjustments if the clients paid too much. The person spoke on condition of anonymity because they were not authorized to discuss the matter publicly. The person did not say what amount constituted overpaying for Facebook's stock. The world's largest social network's IPO was highly anticipated. But technical problems with the Nasdaq Stock Market delayed its open on Friday, and the stock closed nearly flat on its first trading ... Continue reading →
On the heels of heavy rains that doused the Twin Cities overnight and slowed morning traffic, another system of severe storms is headed our way. The National Weather Service issued a special weather statement at 9:36 a.m. Thursday, May 24 saying, "Radar indicated that thunderstorms were rapidly developing (three) miles west of Veseli (Minn.) These storms (were) moving northeast at 75 mph." The system could bring half-inch hail and winds up to 40 mph, the weather service reported. The weather service warned that the storm "could intensify quickly" and that people in the storm's path should be "ready to act if a warning is issued." Morning rush hour was slow because of low visibility, water pooling on metro highways and minor collisions. Traffic was reduced ... Continue reading →
Once you pop open a stack of potato chips, it can sometimes be hard to stop until you suddenly realize you are scraping the bottom of the can. Now, new research suggests that inserting colored potato chips might actually help curb your appetite -- and the findings could have implications for other snacks, too. Researchers at the University of Pennsylvania and Cornell University gave students one of two types of Lays' Stackable potato chips. The first group was given a stack of chips with red dyed, edible potato chips dividers that were interspersed at several different intervals, suggesting serving sizes anywhere from 5 to 14 chips. The other group was given the traditional stack of potato chips with no edible dividers. What the researchers found ... Continue reading →
