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Friday, May 18, 2012

Facebook Euphoria Comes Amid Bank Scandals, Europe Fears On Wall Street

Facebook founder, Chairman and CEO Mark Zuckerberg, center, applauds at the opening bell of the Nasdaq stock market, Friday, from Facebook headquarters in Menlo Park, Calif. (AP/Nasdaq via Facebook, Zef Nikolla)

The social networking site completed its eight-year journey from a Harvard dorm room to Wall Street this morning, as founder Mark Zuckerberg rang the opening bell for the NASDAQ stock exchange via satellite from Facebook offices in Menlo Park California.

The public offering is expected to make Zuckerberg richer than the founders of Google, but analysts remain sharply divided over the future of the company. And Friday’s offering comes as the market has been falling sharply, amid fears over the health of U.S. banks after multi-billion dollar losses at JP Morgan Chase, and fears over the stability of the European monetary union.

Still, among those likely to benefit from today’s Facebook sale: The rocker Bono, who’s investment is expected to yield him over a billion dollars in profit, and the state of California, which stands to collect as much as two and a half billion dollars in taxes.

Guest:

  • Paul Sloan, executive editor for the technology news site CNET 

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  • Guy de Bord

    Poster:
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Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

August 26 6 Comments

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A Fan Says No To Football

Steve Almond writes, "our allegiance to football legitimizes and ever fosters within us a tolerance for violence, greed, racism, and even homophobia."

August 25 12 Comments

Pediatricians Group: Delay School Start Times So Teens Can Sleep

Many studies have shown that the average adolescent doesn't get enough sleep, and that can cause physical and mental health issues.

August 25 13 Comments

A Police Officer On Lessons From Ferguson

Jim Bueermann says the shooting of Michael Brown and the aftermath point to the need for a conversation about policing in the U.S.