By Rex Nutting, MarketWatch WASHINGTON (MarketWatch) — Of all the falsehoods told about President Barack Obama, the biggest whopper is the one about his reckless spending spree. As would-be president Mitt Romney tells it: “I will lead us out of this debt and spending inferno.” Almost everyone believes that Obama has presided over a massive increase in federal spending, an “inferno” of spending that threatens our jobs, our businesses and our children’s future. Even Democrats seem to think it’s true. Government spending under Obama, including his signature stimulus bill, is rising at a 1.4% annualized pace — slower than at any time in nearly 60 years. But it didn’t happen. Although there was a big stimulus bill under Obama, federal spending is rising at the ... Continue reading →
In his pre-IPO letter to prospective shareholders, Facebook CEO Mark Zuckerberg made two things crystal clear: Facebook's "social mission" was much more important to him than its business He was focused on creating Facebook's long-term vision, not on creating short-term "shareholder value" (e.g., stock price). In other words, Zuckerberg warned short-term investors to stay the heck away. And now, with Facebook's stock sagging after the IPO, a lot of them are wishing they had. In warning away short-term shareholders, Zuckerberg followed in the footsteps of another brilliant tech CEO, one who also wrote a pre-IPO letter to shareholders in which he told short-term investors to stay the heck away: Jeff Bezos of Amazon. When Amazon went public, Jeff Bezos did exactly what Facebook did: He ... Continue reading →
