New Pressure on Zuckerberg After Stock Sinks To Record Low

Leave a comment

By Ryan Ngala

 

Facebook stock prices have fallen steadily since the company’s much anticipated public debut three months ago. Now some are asking whether Mark Zuckerberg is the best person to lead the company. Last week, Facebook hit a new trading low, and now some are wondering if founder Mr. Zuckerberg is in over his hoodie and if it’s time for him to step aside as CEO.

 

Facebook made few friends on Wall Street last week, Friday, when its stock price fell below twenty dollars for the second day in a row. This was the latest blow in what some are calling one of the most disastrous initial public offerings in a decade, “Just ninety days since the IPO in May, the stock has fallen by half its value. So the drop has not just been dramatic in terms of size it’s been so rapid”, said Sam Hamadeh, CEO of Privco.

 

Facebook, the social media giant boasts approximately nine hundred million users worldwide, when news broke of the impending IPO, there was much anticipation globally. “So let’s do this” said Mark Zuckerberg, when the company went public on Friday May 18th. Many investors have clamored for Facebook shares, including many private investors like San Diego sandwich shop owner, Herman Hitachi, “I got two hundred and fifty shares at forty dollars” he said. Now Hitachi patiently waits for better days, “We will go through up’s and downs, no question about it” he added.

 

A recent NBC Today Show podcast revealed that the Facebook trading deal might be problematic “The Facebook IPO was plagued with problems from the very beginning. Technical glitches delayed the opening and led to trading confusion. Investor’s lawsuit follow and the stock price started falling from an opening high of $38.23 to Friday’s low of $19.05, now some wonder if it’s time for founder Mark Zuckerberg to step aside as ceo, questioning his readiness for the job. The 28year old upset many on Wall Street by showing up to his first investor meeting this spring wearing sneakers and a hoodie.”

 

Brent Wilsey of Wilsey Asset Management stated, “His company; he’s not doing the right things to have this company make money. What I would tell Mark Zuckerberg is: ‘You’re a smart guy, you’ve created this great product called Facebook, but now the game has changed.” The other significant development at Facebook recently is that a group of Facebook investors has filed a class action suit against the company and the investors that underwrote the initial public offering.

 

News of the lawsuit has led some to ask the question, “Is Morgan Stanley really to blame for the Facebook IPO scam?” Morgan Stanley, along with other leading banks, underwrote the Facebook IPO. The plaintiffs alleged that Morgan Stanley hid vital information from the public that would have reveal that the stock was overpriced. Sources cited in an online article on the Gawker’s webpage described the anger of some facebook investors. “They’re pissed over reports that Facebook hid worrying financial numbers from the public before the IPO, while working with banks to tip off preferred investors.”

 

Stay Connected With STN News On

Blogger | Facebook | Flickr | Google+ |
Tumblr | Twitter | WordPress | YouTube

Subscribe to the site on Google Reader
Keyword: STNNews.Posterous.com

HCZ 18th Annual Peace March 2012

Leave a comment

By Ryan Ngala

[Harlem, New York]– With the overall students and staff members in this community based program at the Harlem Children’s Zone, they were ready to prepare themselves in this movement event that can stop the end of violence not only in the streets of New York but also in our homes, but at this event could end the violence of many loved ones whose lives have been lost forever and hopefully that it’s send a message to many New Yorkers that violence must be stop once and for all.

It was a gorgeous sunny day, as me and the CSO (College Success Office) group had left the building at 3:45, to wait for further instructions as we headed out and off we went to go to 134th Street the CSO group was walking their way there throughout park avenue, Madison avenue, and 5th Avenue at 135th street as soon as they got to their destination on 134th Street and 7th Avenue between the site building of HCZ’s Truancy Prevention and Project Class and Learn to Earn program site.

We was the last group on the line behind Learn to Earn, ETC (Employment and Technology Center) and many other HCZ site group who were above us, when the peace march rally had started to begin some young teens were on the sidewalk so I thought that this was not what the CSO group had in mind, they were supposed to be marching in the street, but not on the sidewalk so they wanted to start all over as they have them to do it all over again, so when the march rally was about to start, we started to walk.

“Let’s go, CSO” said Kim, I was from behind many students so that I know where I was going and I won’t get lost, as we walk to the scene as we turn on 134th Street and 7th Avenue at Adam Clayton Powell Jr. Boulevard and as they walk to 136th Street they begin to chant with their big high voice as they possible could as they started to said “Were gonna shout it out, Peace is what it’s all about”, “We are the future, Don’t you agree?, Stop the violence on kids like me!!!”, “Money for Schools, not for jails.”, and “Marching through the zone to save our own!”.

They started to chant all the way as they were headed to the Harlem Armory as banners, and posters were being held up high and once they were waiting to be letting students inside of the armory, they must have their peace march t-shirt on or otherwise they can’t come in without having it to come off, so as they went inside the armory and up the steps they go as they climb through the stairs from the first floor waiting for many HCZ students and staff to get pass by until they were able to find a seat, as I spotted my site group from CSO and also Tina who put water bottles in a pack of ice so that it can stay cool, the ceremony was about to begin in 5 minutes and as everyone were about to sit down, the ceremony was about to begin.

In the auditorium, when people saw their program logos coming up on a big projector screen, they shouted out the name of their own site group among the different HCZ programs such as ETC (Employment & Technology Center), CSO (College Success Office), Countee Cullen Community Center, Truce Media, Truce Fitness, Learn To Earn, and many more. The shouting continued as audience members started to shout out the names of different HCZ programs represented by individuals who were starting to perform on the big stage.  Booker T. Washington reps were doing the salsa on stage and many flags were being waived by the staff members of Booker T., After their performance, the audience gave them a big round of applause. Some HCZ participants were busy taking great pictures including Will Weeks and me. The event was a great show with some great performers representing Learn to Earn, Truce Media, ETC (Employment & Technology Center) and many others.

But what really did struck me was a performance by the group from Countee Cullen: they performed a cover song to Eminem’s “I’m Not Afraid.” Their message was about decreasing violence and promoting world peace in this community; they mourned the victims who have lost their lives because of gun violence. Another impressive performance was by the group from the Learn to Earn site program; they did a cover up to a song of Meek Mill’s “Amen”, adding their own version of the lyrics that told of the violence that is going today. They also mentioned of the HCZ programs in their lyrics.

When the performances were completed, the winners among the students of each HCZ programs were announced. These were students who had participated in a 3 day event of the HCZ summer games. The winners were Promise Academy 1 and 2, Peacemakers North and South, Countee Cullen Community Center, A Cut Above and Booker T. Washington. Next it was the time for a moment of silence for the fallen victims who have lost their lives in the violence era; they are gone but not forgotten. Finally, HCZ President and CEO Geoffrey Canada spoke on behalf of the fallen victims including young ones like Scotty Scott and many others. HCZ staff members held up their candles high up in their hands for the victims who have been lost to violence. They are sorely missed; Many students at the rally wrote on a piece of paper the names of the fallen victims they missed the most.  When the HCZ peace march event was all over, every HCZ site group saw the names of each two fallen victims projected on the big screen.

Stay Connected With STN News On

Blogger | Facebook | Flickr | Google+ |
Tumblr | Twitter | WordPress | YouTube

Subscribe to the site on Google Reader
Keyword: STNNews.Posterous.com

India Blackout

Leave a comment

This slideshow requires JavaScript.

9.5% including 670 million people are still without power

By Ryan Ngala          

It was by far the largest blackout in world history, as it peak today nearly 9.5% of the world’s population was without power it happen in India where just under six hundred and seventy million people and that’s twice the size of the U.S. population, found themselves plunge into darkness and grid lock and this involves something that is a bit of an issue in the U.S. an aging and often overwhelmed power grid.

Imagine being caught in a blackout the size of America, and then double it, traffic lights, hundreds of trains, and subways all grinding to a halt, in a written statement saying

“Due to power failure from northern grid Metro will be delay as per actual time. Sorry for inconvenience Caused.”

That’s the kind of chaos that people in India as many as six hundred and seventy million of them faced over the past two days, as half of the national power grid shut down.

So did an electric elevator in a mineshaft in West Bangkok trapping some two hundred coal miners for hours, and with summer temperatures breaking down 100 degrees, air conditioning even fans stop in many hospitals. “I pay for an x-ray” said the patient, “But because of the blackout, I can’t get it now”. Monday’s outage was bad enough but as switches tripped across the country of two thousand miles route from the border through China to Pakistan that was plunge into darkness.

Officials overwhelmed blame the state for using more power than they were allocated by the national government, but analysis say record blackout was bound to happen as an out dated grid just can’t keep up with the appetite of an emerging economic super power. Shereen Bahn of CNBC says “There’s going to be a lot of tough questions to answer, because this has been the worse that we actually seen in over a decade”.

India is used to blackouts most key faculties like airports and power plants have dedicated generators, but the added costs of fuels that run them hurt struggling Indians, “We need electricity, our machines don’t work and generators aren’t that helpful, everyone’s in trouble” one Indian resident said, tonight power has return to the capitol of New Delhi, but across the world’s second most popularize nation tens of millions remain in the dark.

Stay Connected With STN News On

Blogger | Facebook | Flickr | Google+ | Tumblr | Twitter | WordPress | YouTube

Obama Vs. Romney: The Battle For The Economy

Leave a comment

Image

[Evan Vucci/AP Photo]

By NBC News

In the sharpened rhetoric between president  Obama and Mitt Romney will speak at the NAACP convention a little later today over the state of the economy. The NAACP is the  nation’s oldest civil rights organization. Romney can expect to face a  skeptical audience here, Four years ago then candidate Obama won 95% of  the African-American vote but Romney is hoping this community will take a  listen to his policies today.

Meanwhile the president and Romney have been  going back and forth exchanging fire over everything from taxes to who is most to blame for shipping jobs overseas.

“We tried it their way through multiple last decades, and it didn’t work” President Obama said.

President Obama campaigning in the battleground state of Iowa,

“This old style liberalism of bigger and bigger  government and bigger and bigger taxes has got to end and we will end it  in November.” Mitt Romney said.

Mitt Romney campaigning in the battleground  state of Colorado, new polls show the race is dead even. Romney chose  Colorado where the unemployment rate is 9% to dismiss the president’s  call to let the bush era tax rates expire, for Americans making more  than $250,000 dollars a year.

“So at the very time the American people are  seeing fewer jobs created than we need, the president announces he’s  going to make it harder for jobs to be created.” Romney continued. The  President chose Iowa where the unemployment rate is well below the  national average at 5.1% to defend his proposal.

“To give me another tax break, or to give Warren  Buffett another tax break, or to give Mitt Romney another tax break,  that would cost – that would cost about a trillion dollars.” President  Obama continued.

And President Obama continued to raise questions about Romney’s business record at Bain capital.

“Governor Romney has experienced owning companies called pioneers in the business of outsourcing.”

But for the first time Tuesday Romney pushed  back calling Mr. Obama’s claims false and tried to shift attention to  the President’s record. “This president has been outsourcing a good deal  of American jobs himself. If it’s an outsourcer in chief, it’s  president of the united states, not the guy who is running to replace  him.” said Romney.

Meanwhile the President’s half brother, George  Obama, who lives in a poor neighborhood in Kenya makes a film debut and  soon to be released documentary by a harsh critic of the president,  tries unsuccessfully to get George Obama to talk critically about his  famous half brother.

“The theme of the articles was that Obama had not done anything to help you” he asked George Obama.

“I think he has a family of his own, He’s  supposed to help his family, I’m of an age to help myself. He’s got  other issues to deal with.” George Obama said.

“Taking care of the world but you shouldn’t start at home.” said the interviewer.

“Yeah he’s taking care of the world, so he’s taking care of me. I’m part of the world” George continued.

Back to Mitt Romney now, there’s heavy  speculation he would announce a running mate as early as this month,  well in advance of the republican national convention. The thinking  being he would use that running mate to help raise money now to compete  with president Obama in the general election. But yesterday he was asked  that very question on the trail in Colorado and he couldn’t have been  any more vague saying he will make that decision down the road.

The Day After Election For Congress

Leave a comment

From Left-to-right: Joyce S. Johnson, Craig Schley, Charles B. Rangel, Clyde Williams and Adriano Espaillat.

By Ryan Ngala

[Harlem, New York]

Tuesday was the biggest election of the summer season, and the candidates who ran for congress were just getting warmed up. For many people getting their chance to vote and letting their voices be heard as they endeavored to pick the strongest candidates for congress, Tuesday’s primary was their opportunity to get things right for this important community in the heart of New York City.

As the polls opened for election from 6 am – 9 pm, many voters scrambled from schools and office buildings to vote in the neighborhoods where they live. For many residents, exercising their right to vote indicates their courage and willingness to do what is necessary and best for their community during these tough economic times. But what do they really want for the congressional candidates to do in order to fix things for the community? Usually, this community never expects to get this kind of media attention early in the week.

This was my first time voting in an election, ever!, I was among the first voters to arrive at my polling place at Ps. 175 located at 175 W. 134th Street; that location is just two stops from where I live on 132nd Street. As I entered into the building, I walked all the way to the back where they were doing the voting. As I stepped into the gymnasium, one of the poll workers at the front desk asked me for my address and I told her what it was. Then she pointed to the 25th District table where I was to stand in line and wait while many other people received their green and white ballot papers. The names of the five candidates were listed: Joyce S. Johnson, Craig Schley, Charles B. Rangel, Clyde Williams and Adriano Espaillat. Each voter then decided which candidate they wanted to vote for; they inserted the green and white ballot paper slip into the ballot scanner; as they inserted the ballot, the machine it read, “Thanks for voting.”

I walked out of the polling place and through the school building, I then walked across 125th Street and Lenox Avenue. I just wanted to see what was going on at Sylvia’s Restaurant; many news media had come there to cover the election story. News crews from NY1, CBS 2, and ABC 7 were amongst those gathered at Sylvia’s. Congressman Charles B. Rangel was expected to arrive soon; when he did, he was greeted by all of his supporters. They were happy for the opportunity to express their love and gratitude to him. He had promoted uplift and change, not only for Harlem, but also for the Bronx, and many people love Congressman Charles B. Rangel and call him “Charlie” as a nickname.

The number of votes that had been counted by then was just over 8,000, but soon the count was boosted high to more than 12,800 votes. The people were surprised at the miraculous results! It was a stunning victory that made him the projected winner of the 13th district. “Charlie, we love you!!!” a supporter shouted. At that point, Congressman Charles B. Rangel was being named “The Lion of Lenox Avenue!” His self – determination not only as a champion but also as a warrior has once again made him the trusted leader to the Harlem community.

Stay Connected With STN News On

Blogger | Facebook | Flickr | Google+ | Tumblr | Twitter | WordPress | YouTube

Subscribe to the site on Google Reader

Keyword: STNNews.Posterous.com