Enlarge image DBS-Danamon Deal Seen Imperiled by Ownership Rules A woman walks past a PT Bank Danamon Indonesia ATM in Jakarta. A woman walks past a PT Bank Danamon Indonesia ATM in Jakarta. Photographer: Dimas Ardian/Bloomberg Southeast Asia’s largest banking takeover is turning into the emerging-market deal that traders bet is the most likely to unravel, as Indonesia considers restricting foreign ownership of its lenders. Shares of Jakarta-based PT Bank Danamon Indonesia (BDMN) closed yesterday 21 percent below a 7,000 rupiah per share offer from Singapore’s DBS Group Holdings Ltd. (DBS), the biggest discount since the 66 trillion rupiah ($7 billion) takeover was announced last month, according to data compiled by Bloomberg. The gap is the widest for a pending deal of more than $1 ... Continue reading →

When Jessica Barba, a freshman at a New York high school, created a Facebook account for a fictional 12-year-old, she was hoping to raise awareness about bullying. But did the school project go too far? NBC's Mara Schiavocampo reports and Barba and her parents speak with TODAY's Matt Lauer about assignment that caught the attention of police and resulted in her suspension.By Lisa FlamThe high school freshman suspended for five days after she created an anti-bullying video and Facebook page about a fictional girl who commits suicide says she tried to explain her work to school officials to no avail.Live PollShould Jessica Barba have been suspended for the anti-bullying video? “I just created the video in order to raise awareness of the major issue that’s ... Continue reading →

No Deal More Fashionable Than Guess as Cash Lures LBO By Tara Lachapelle - 2012-05-23T00:23:20Z Enlarge image No Deal More Fashionable Than Guess as Cash Lures LBO A shopper exits a Guess? Inc. retail store in New York, U.S. A shopper exits a Guess? Inc. retail store in New York, U.S. Photographer: Scott Eells/Bloomberg Enlarge image No Deal More Fashionable Than Guess as Cash Lures LBO Shoppers browse inside of a Guess? Inc. retail store in New York, U.S. Shoppers browse inside of a Guess? Inc. retail store in New York, U.S. Photographer: Scott Eells/Bloomberg Enlarge image No Deal More Fashionable Than Guess as Cash Lures LBO An employee packs a shopping bag with items for a customer inside of a Guess? Inc. retail store ... Continue reading →

No Deal More Fashionable Than Guess as Cash Lures LBO By Tara Lachapelle - 2012-05-23T00:23:20Z Enlarge image No Deal More Fashionable Than Guess as Cash Lures LBO A shopper exits a Guess? Inc. retail store in New York, U.S. A shopper exits a Guess? Inc. retail store in New York, U.S. Photographer: Scott Eells/Bloomberg Enlarge image No Deal More Fashionable Than Guess as Cash Lures LBO Shoppers browse inside of a Guess? Inc. retail store in New York, U.S. Shoppers browse inside of a Guess? Inc. retail store in New York, U.S. Photographer: Scott Eells/Bloomberg Enlarge image No Deal More Fashionable Than Guess as Cash Lures LBO An employee packs a shopping bag with items for a customer inside of a Guess? Inc. retail store ... Continue reading →

Private planes assembled from kits have been involved in more crashes and deaths than other small aircraft because pilots are often ill-prepared to fly them, a U.S. safety study found. Planes like those that Micron Technology Inc. (MU) (MU) Chief Executive Officer Steve Appleton and singer John Denver were piloting when they died are more than three times more likely to be in a fatal accident, the National Transportation Safety Board said today. Ten of 102 accidents in home-built planes last year occurred the first time a pilot flew them. Home-built small planes are classified as experimental by the U.S. Federal Aviation Administration and have fewer regulatory restrictions than similar factory-built planes, the safety board said. It voted to recommend requiring pilots to conduct fuel-system ... Continue reading →

Facebook (FB) got a black eye last week when General Motors (GM) announced it would cease advertising on the platform, yanking $10 million in annual ad spending away from Mark Zuckerberg just days before the company’s IPO. The move caused some to wonder if Facebook’s business model is flawed. After all, the social network made 85 percent of its $3.7 billion in revenue last year from those little ad boxes on the side. If marketers stop buying them, Facebook’s stock price could get hit even harder and further than its 11 percent ding on May 21. That’s wrong-headed, because no free market spends billions on a media format with zero return. What GM’s retreat really shows is the harsh reality that other brands must face: ... Continue reading →

Facebook 11% Drop Means Morgan Stanley Gets Blame for Flop: Tech By Serena Saitto, Lee Spears and Joseph Ciolli - 2012-05-22T02:23:56Z May 21 (Bloomberg) -- Paul Kedrosky, author of the Infectious Greed blog and a Bloomberg contributing editor, and Max Wolff, an analyst at Greencrest Capital Management, talk about trading in shares of Facebook Inc. Facebook fell below its $38 offer price in the second day of trading. Kedrosky and Wolff speak with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg) May 21 (Bloomberg) -- Darren Chervitz, research director for Jacob Funds, talks about Facebook Inc.'s stock price performance and the outlook for the social network firm. Facebook, the social networking site that raised $16 billion in an initial public offering, fell below its ... Continue reading →

Enlarge image David Jones Seen Luring LBO on Lowest Value Since ‘04 Sergio Dionisio/Bloomberg Revenue at David Jones, which sells everything from ties and fragrances to suitcases and cameras, peaked at A$2.1 billion in the year ending July 2008, according to data compiled by Bloomberg. It will fall about 10 percent from that high to A$1.9 billion this fiscal year, analysts’ estimates compiled by Bloomberg show. Revenue at David Jones, which sells everything from ties and fragrances to suitcases and cameras, peaked at A$2.1 billion in the year ending July 2008, according to data compiled by Bloomberg. It will fall about 10 percent from that high to A$1.9 billion this fiscal year, analysts’ estimates compiled by Bloomberg show. Photographer: Sergio Dionisio/Bloomberg With David Jones Ltd. ... Continue reading →

After a white-knuckle final 20 minutes of the day, shares of Facebook managed to just keep one nostril above $38, the level where the IPO priced last night. Why did it never fall below $38? Basically, because the underwriters of the IPO (Morgan Stanley, et. al.) bid heavily right at $38 to make sure there was no chance that selling pressure would drive the stock lower than that level. It would be an embarrassment if their clients lost money on their first day of the IPO. The below table gives a good look at what's going on. On the left side, you see the "bids" that are in the market for the stock. Those are the offers to buy. On the right you see the ... Continue reading →