Friday, January 14, 2011
Stay current with what is happening in the business world:
Unemployment Rate Drops
The unemployment rate fell by 0.4 percentage point to 9.4% in December 2010, and employment increased by 103,000. Employment rose in leisure and hospitality and in health care and there was little changed in other major industries.
Source: Bureau of Labor Statistics, U.S. Dept. of Labor
Goldman Sachs 'Friends' Facebook
Facebook secured $450 million in funding from Goldman Sachs and an additional $50 million from a Russian investor giving the social media giant greater easy to develop new products and make acquisitions. Some analysts say that this will help Facebook remain a private company and others believe the cash infusion increases the likelihood that Facebook will go private. According to Wired.com, "by fronting the money to Facebook, Goldman Sachs is essentially securing the rights to take the company public eventually. " Analysts say the deal values Facebook at $50 billion - more than eBay, Yahoo or Time Warner.
Source: The Week
Groupon Going Public?
Groupon, the social buying site that rejected a $6 billion offer from Google, is pushing ahead with plans for its initial public offering. Initial estimates indicate that the company could be valued at $15 billion. The offering would also be among the most anticipated since Google’s in 2004.The company discussed a public offering with bankers this week, according to sources.
Source: Chicago Tribune