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"content": "\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/Oakland-Athletics-logoSM1.jpg\">\u003cimg class=\"alignleft size-full wp-image-66126\" title=\"Oakland-Athletics-logoSM\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/Oakland-Athletics-logoSM1.jpg\" alt=\"\" width=\"194\" height=\"194\">\u003c/a>Sacramento mayor Kevin Johnson \u003ca href=\"http://www.sacbee.com/2012/07/09/4617561/mayor-johnson-looks-at-bringing.html#\" target=\"_blank\">held a press conference Monday\u003c/a> to tout his city's potential as a home for the A's or another Major League Baseball team. Johnson was the major force behind a plan to build a new arena for the Sacramento Kings, \u003ca href=\"http://espn.go.com/nba/story/_/id/7810708/deal-new-sacramento-kings-arena-falls-through\" target=\"_blank\">a deal that collapsed in April\u003c/a> when the team's owners, the Maloof family, balked at the terms. On Monday, Johnson said he had instructed the task force that was working on an NBA arena project to explore the possibility of a downtown baseball stadium instead.\u003c/p>\n\u003cp>\"We had $250 million of public investment that we were willing to put toward a $400 million project,\" Johnson said at the press conference, speaking of the basketball arena. \"As I go around the country and talk to other owners, they're just in disbelief with what our community was able to put forward as an investment. We know that we could support not just one, but two teams, given the opportunity.\"\u003c/p>\n\u003cp>All well and good. But later in the day, A's managing partner Lew Wolff and other team officials said \u003ca href=\"http://www.sacbee.com/2012/07/10/4619869/oakland-as-say-theyre-not-interested.html\" target=\"_blank\">they're not interested\u003c/a>, even as a backup plan. Susan Slusser, the San Francisco Chronicle's A's beat reporter, \u003ca href=\"https://twitter.com/susanslusser\" target=\"_blank\">tweeted\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>Wolff tells me: \"We are not leaving the Bay Area and that's the end of it. Sacramento is a very nice city, but not for Major League Baseball as far as our ownership is concerned.\" \u003ca href=\"https://twitter.com/search/%23Athletics\">\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>Fan support wold not seem to be a problem. Oakland's Triple-A affiliate, the\u003ca href=\"http://www.milb.com/index.jsp?sid=t105\" target=\"_blank\"> River Cats\u003c/a>, are located in West Sacramento and are considered one of the country's most successful minor league franchises. Their stadium, however, holds just under 15,000 instead of the 35,000 or so that a new MLB park would be expected to serve. Most analysts point to Sacramento's relative lack of large corporations with the potential to buy luxury boxes and season tickets as the biggest obstacle.\u003c/p>\n\u003cp>A's ownership wants to build a new stadium in San Jose, but they can't do that without permission from Major League Baseball, which previously granted the San Francisco Giants territorial rights to Santa Clara County. MLB Commissioner Bud Selig created a \"blue-ribbon panel\" to study the issue 39 months ago. On Tuesday, at his pre-All-Star-Game press conference, \u003ca href=\"http://www.mercurynews.com/athletics/ci_21043918/athletics-selig-said-no-timetable-set-decide-future?\" target=\"_blank\">Selig said they're still working on it\u003c/a> but didn't provide much in the way of details. The Chronicle's \u003ca href=\"https://twitter.com/JohnSheaHey\" target=\"_blank\">John Shea on Twitter\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>I asked Selig what the main hangup is with A's stadium issue and he said \"The main hangup is we don't have the answers yet.\"\u003c/p>\u003c/blockquote>\n\u003cp>The city of Oakland is working on its own plans: an ambitious project known as \u003ca href=\"http://www2.oaklandnet.com/oakca1/groups/cityadministrator/documents/pressrelease/oak034963.pdf\" target=\"_blank\">Coliseum City\u003c/a> that would include new homes for the A's, the Raiders, and possibly the Golden State Warriors, although that team \u003ca href=\"http://www.nytimes.com/2012/05/23/sports/basketball/golden-state-warriors-return-to-san-francisco.html\" target=\"_blank\">hopes to move to San Francisco\u003c/a> when its Oakland lease is up in 2017.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>The A's own lease at the Oakland Coliseum \u003ca href=\"http://www.sportsbusinessdaily.com/Daily/Issues/2012/01/20/Facilities/As.aspx\" target=\"_blank\">expires at the end of the 2013 season\u003c/a>. But whether a new stadium is built in Oakland, San Jose, Sacramento or some other place, it's virtually impossible for it to be ready by opening day, 2014.\u003c/p>\n\u003cp>As always, there's more analysis and chatter at the \u003ca href=\"http://newballpark.org/2012/07/09/mayor-johnson-press-conference/\" target=\"_blank\">New A's Ballpark blog\u003c/a> and the \u003ca href=\"http://www.fieldofschemes.com/news/archives/2012/07/5006_kj_to_announce.html\" target=\"_blank\">Field of Schemes \u003c/a>blog.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp> \u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/Oakland-Athletics-logoSM1.jpg\">\u003cimg class=\"alignleft size-full wp-image-66126\" title=\"Oakland-Athletics-logoSM\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/Oakland-Athletics-logoSM1.jpg\" alt=\"\" width=\"194\" height=\"194\">\u003c/a>Sacramento mayor Kevin Johnson \u003ca href=\"http://www.sacbee.com/2012/07/09/4617561/mayor-johnson-looks-at-bringing.html#\" target=\"_blank\">held a press conference Monday\u003c/a> to tout his city's potential as a home for the A's or another Major League Baseball team. Johnson was the major force behind a plan to build a new arena for the Sacramento Kings, \u003ca href=\"http://espn.go.com/nba/story/_/id/7810708/deal-new-sacramento-kings-arena-falls-through\" target=\"_blank\">a deal that collapsed in April\u003c/a> when the team's owners, the Maloof family, balked at the terms. On Monday, Johnson said he had instructed the task force that was working on an NBA arena project to explore the possibility of a downtown baseball stadium instead.\u003c/p>\n\u003cp>\"We had $250 million of public investment that we were willing to put toward a $400 million project,\" Johnson said at the press conference, speaking of the basketball arena. \"As I go around the country and talk to other owners, they're just in disbelief with what our community was able to put forward as an investment. We know that we could support not just one, but two teams, given the opportunity.\"\u003c/p>\n\u003cp>All well and good. But later in the day, A's managing partner Lew Wolff and other team officials said \u003ca href=\"http://www.sacbee.com/2012/07/10/4619869/oakland-as-say-theyre-not-interested.html\" target=\"_blank\">they're not interested\u003c/a>, even as a backup plan. Susan Slusser, the San Francisco Chronicle's A's beat reporter, \u003ca href=\"https://twitter.com/susanslusser\" target=\"_blank\">tweeted\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>Wolff tells me: \"We are not leaving the Bay Area and that's the end of it. Sacramento is a very nice city, but not for Major League Baseball as far as our ownership is concerned.\" \u003ca href=\"https://twitter.com/search/%23Athletics\">\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>Fan support wold not seem to be a problem. Oakland's Triple-A affiliate, the\u003ca href=\"http://www.milb.com/index.jsp?sid=t105\" target=\"_blank\"> River Cats\u003c/a>, are located in West Sacramento and are considered one of the country's most successful minor league franchises. Their stadium, however, holds just under 15,000 instead of the 35,000 or so that a new MLB park would be expected to serve. Most analysts point to Sacramento's relative lack of large corporations with the potential to buy luxury boxes and season tickets as the biggest obstacle.\u003c/p>\n\u003cp>A's ownership wants to build a new stadium in San Jose, but they can't do that without permission from Major League Baseball, which previously granted the San Francisco Giants territorial rights to Santa Clara County. MLB Commissioner Bud Selig created a \"blue-ribbon panel\" to study the issue 39 months ago. On Tuesday, at his pre-All-Star-Game press conference, \u003ca href=\"http://www.mercurynews.com/athletics/ci_21043918/athletics-selig-said-no-timetable-set-decide-future?\" target=\"_blank\">Selig said they're still working on it\u003c/a> but didn't provide much in the way of details. The Chronicle's \u003ca href=\"https://twitter.com/JohnSheaHey\" target=\"_blank\">John Shea on Twitter\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>I asked Selig what the main hangup is with A's stadium issue and he said \"The main hangup is we don't have the answers yet.\"\u003c/p>\u003c/blockquote>\n\u003cp>The city of Oakland is working on its own plans: an ambitious project known as \u003ca href=\"http://www2.oaklandnet.com/oakca1/groups/cityadministrator/documents/pressrelease/oak034963.pdf\" target=\"_blank\">Coliseum City\u003c/a> that would include new homes for the A's, the Raiders, and possibly the Golden State Warriors, although that team \u003ca href=\"http://www.nytimes.com/2012/05/23/sports/basketball/golden-state-warriors-return-to-san-francisco.html\" target=\"_blank\">hopes to move to San Francisco\u003c/a> when its Oakland lease is up in 2017.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>The A's own lease at the Oakland Coliseum \u003ca href=\"http://www.sportsbusinessdaily.com/Daily/Issues/2012/01/20/Facilities/As.aspx\" target=\"_blank\">expires at the end of the 2013 season\u003c/a>. But whether a new stadium is built in Oakland, San Jose, Sacramento or some other place, it's virtually impossible for it to be ready by opening day, 2014.\u003c/p>\n\u003cp>As always, there's more analysis and chatter at the \u003ca href=\"http://newballpark.org/2012/07/09/mayor-johnson-press-conference/\" target=\"_blank\">New A's Ballpark blog\u003c/a> and the \u003ca href=\"http://www.fieldofschemes.com/news/archives/2012/07/5006_kj_to_announce.html\" target=\"_blank\">Field of Schemes \u003c/a>blog.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp> \u003c/p>\n\n\u003c/div>\u003c/p>",
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"disqusTitle": "Our Social Media Dude Discusses Pinterest's Planned Move to San Francisco",
"title": "Our Social Media Dude Discusses Pinterest's Planned Move to San Francisco",
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"content": "\u003cp>Pinterest is moving to San Francisco, say those who should know.\u003c/p>\n\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/07/pinterest.jpg\">\u003cimg class=\"aligncenter size-full wp-image-69809\" title=\"pinterest\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/07/pinterest.jpg\" alt=\"\" width=\"300\" height=\"168\">\u003c/a>\u003c/p>\n\u003cp>Press release from Ed Lee's office this afternoon...\u003c/p>\n\u003cblockquote>\u003cp>Mayor Edwin M. Lee and Pinterest CEO Ben Silbermann announced today that Pinterest, one of the fastest growing social media firms, will move from Palo Alto to San Francisco. Pinterest is currently finalizing plans for a long-term home in the SoMa neighborhood and has signed a short-term lease for space in the area to accommodate immediate growth.\u003c/p>\n\u003cp>“I am thrilled to welcome Pinterest to the ‘Innovation Capital of the World,’ and am pleased that our efforts to attract and retain the industry’s best and most innovative companies are working,” said Mayor Lee.\u003c/p>\n\u003cp>“We’re pleased to now call one of the world’s great cities home,” said Pinterest CEO Ben Silbermann. “Thanks to Mayor Lee, his team and everyone who has helped make this move possible...”\u003c/p>\n\u003c/blockquote>\n\u003cp>Mayor Lee also debuted his new \u003ca href=\"http://pinterest.com/mayoredlee\">Pinterest page\u003c/a>. Call me cynical, but I'm guessing he didn't post those all himself.\u003c/p>\n\u003cp>Pinterest has \"around 50\" employees, company spokesperson Barry Schnitt said in an e-mail. (And that's all he'd say. The company isn't sharing additional details at this time.)\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Frankly, I have never used Pinterest and even more frankly, I only have the vaguest notion of what it is. So I asked our Social Media Dude, Ian Hill, to illuminate, because he knows a lot about companies I've never heard of doing things I don't understand in ways I don't necessarily approve of, but wudduya gonna do? \u003c/p>\n\u003cblockquote>\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So what is Pinterest?\u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: PinterEst is essentially a social photo sharing application. It takes photo sharing to a new level by linking photos to web sites. What it's really developed into is an online catalogue. You can follow other users on Pinterest. They \"pin\" photos that reflect their interests. There's a lot of food and wedding stuff and products. And you can click through to the web site where that photo originally appeared and just see whatever the content is around that photo.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: How popular is this? It seemed to become big rather quickly. \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: It went from probably something late last year that most people had never heard of to, in March, when it had 2.2 million daily users, 12 million monthly users. They're not Facebook numbers, but that's pretty impressive for something that had only been around for a few months. I think people were really hooked on the presentation, the ability go to just one web site and see a bunch of professional photos that your friends like. That drew a lot of women, in particular. As of march, 90% of Pinterest users were women. \u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: Does the company make any money? \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: I have not heard of a business plan for Pinterest just yet. Like any other social media organization, I imagine it's going to be built on one of two things: Either they're going to sell advertising, or they're looking to be purchased by a Facebook or a Google. \u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: What do you think about them coming to San Francisco? \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: It is interesting. If you think about the Big Six social networks, you're talking Facebook, Google Plus, Twitter, Pinterest, YouTube, Tumblr. Two of those are now in San Francisco as opposed to Silicon Valley. I don't think this will be a huge blow to the Silicon Valley scene, but Silicon Valley has its own community, and when you have big names that are willing to leave that community, it's notable. \u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So you would consider Pinterest a big name in the social media space at this point? \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong> Oh yeah. I think the biggest benefit that people are seeing out of Pinterest is the brands that are going on there and selling clothes, in particular. Some of those companies have reported seeing some significant traffic and sales. People see for instance a dress they like on Pinterest and then buy it off The Gap or somewhere.\u003c/p>\n\u003cp>When you look a the Facbook and Google Plus model, where they're trying to be everything to everybody, Pinterest is different in that it's just photos that link to web sites, curated by the user. How long is that going to hold the public's interest, and can it? It's really grown in popularity really quickly, but it's anybody's guess as to whether it will still be around a year from now or whether it will be part of the Facebook empire. \u003c/p>\n\u003c/blockquote>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>Pinterest is moving to San Francisco, say those who should know.\u003c/p>\n\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/07/pinterest.jpg\">\u003cimg class=\"aligncenter size-full wp-image-69809\" title=\"pinterest\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/07/pinterest.jpg\" alt=\"\" width=\"300\" height=\"168\">\u003c/a>\u003c/p>\n\u003cp>Press release from Ed Lee's office this afternoon...\u003c/p>\n\u003cblockquote>\u003cp>Mayor Edwin M. Lee and Pinterest CEO Ben Silbermann announced today that Pinterest, one of the fastest growing social media firms, will move from Palo Alto to San Francisco. Pinterest is currently finalizing plans for a long-term home in the SoMa neighborhood and has signed a short-term lease for space in the area to accommodate immediate growth.\u003c/p>\n\u003cp>“I am thrilled to welcome Pinterest to the ‘Innovation Capital of the World,’ and am pleased that our efforts to attract and retain the industry’s best and most innovative companies are working,” said Mayor Lee.\u003c/p>\n\u003cp>“We’re pleased to now call one of the world’s great cities home,” said Pinterest CEO Ben Silbermann. “Thanks to Mayor Lee, his team and everyone who has helped make this move possible...”\u003c/p>\n\u003c/blockquote>\n\u003cp>Mayor Lee also debuted his new \u003ca href=\"http://pinterest.com/mayoredlee\">Pinterest page\u003c/a>. Call me cynical, but I'm guessing he didn't post those all himself.\u003c/p>\n\u003cp>Pinterest has \"around 50\" employees, company spokesperson Barry Schnitt said in an e-mail. (And that's all he'd say. The company isn't sharing additional details at this time.)\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Frankly, I have never used Pinterest and even more frankly, I only have the vaguest notion of what it is. So I asked our Social Media Dude, Ian Hill, to illuminate, because he knows a lot about companies I've never heard of doing things I don't understand in ways I don't necessarily approve of, but wudduya gonna do? \u003c/p>\n\u003cblockquote>\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So what is Pinterest?\u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: PinterEst is essentially a social photo sharing application. It takes photo sharing to a new level by linking photos to web sites. What it's really developed into is an online catalogue. You can follow other users on Pinterest. They \"pin\" photos that reflect their interests. There's a lot of food and wedding stuff and products. And you can click through to the web site where that photo originally appeared and just see whatever the content is around that photo.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: How popular is this? It seemed to become big rather quickly. \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: It went from probably something late last year that most people had never heard of to, in March, when it had 2.2 million daily users, 12 million monthly users. They're not Facebook numbers, but that's pretty impressive for something that had only been around for a few months. I think people were really hooked on the presentation, the ability go to just one web site and see a bunch of professional photos that your friends like. That drew a lot of women, in particular. As of march, 90% of Pinterest users were women. \u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: Does the company make any money? \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: I have not heard of a business plan for Pinterest just yet. Like any other social media organization, I imagine it's going to be built on one of two things: Either they're going to sell advertising, or they're looking to be purchased by a Facebook or a Google. \u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: What do you think about them coming to San Francisco? \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong>: It is interesting. If you think about the Big Six social networks, you're talking Facebook, Google Plus, Twitter, Pinterest, YouTube, Tumblr. Two of those are now in San Francisco as opposed to Silicon Valley. I don't think this will be a huge blow to the Silicon Valley scene, but Silicon Valley has its own community, and when you have big names that are willing to leave that community, it's notable. \u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So you would consider Pinterest a big name in the social media space at this point? \u003c/p>\n\u003cp>\u003cstrong>IAN HILL\u003c/strong> Oh yeah. I think the biggest benefit that people are seeing out of Pinterest is the brands that are going on there and selling clothes, in particular. Some of those companies have reported seeing some significant traffic and sales. People see for instance a dress they like on Pinterest and then buy it off The Gap or somewhere.\u003c/p>\n\u003cp>When you look a the Facbook and Google Plus model, where they're trying to be everything to everybody, Pinterest is different in that it's just photos that link to web sites, curated by the user. How long is that going to hold the public's interest, and can it? It's really grown in popularity really quickly, but it's anybody's guess as to whether it will still be around a year from now or whether it will be part of the Facebook empire. \u003c/p>\n\u003c/blockquote>\n\n\u003c/div>\u003c/p>",
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"disqusTitle": "Insider Says Stock Analysts Still Pressured to Issue Positive Ratings",
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"content": "\u003cfigure id=\"attachment_69238\" class=\"wp-caption alignright\" style=\"max-width: 276px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/WallStreetSignGeneric20120305.jpg\">\u003cimg class=\"size-medium wp-image-69238\" title=\"WallStreetSignGeneric20120305\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/WallStreetSignGeneric20120305-300x200.jpg\" alt=\"\" width=\"276\" height=\"184\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Getty Images\u003c/figcaption>\u003c/figure>\n\u003cp>On Wednesday, the 40-day quiet period ended for research analysts from companies involved in the Facebook IPO, meaning they were free to issue ratings and price targets on the stock.\u003c/p>\n\u003cp>From the \u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html\">Wall Street Journal:\u003cbr>\n\u003c/a>\u003c/p>\n\u003cp>\"By midmorning, analysts at eight banks, including the three lead underwriters Morgan Stanley, J.P. Morgan Chase and Goldman Sachs Group Inc. had rated the stock a 'buy.' Another nine dubbed the shares a 'hold,\"' and one, BMO Capital Markets bestowed the equivalent of a rare 'sell' rating on the stock. Price targets for analysts who provided them Wednesday ranged from $25 to $45, with the average $37.71.\"\u003c/p>\n\u003cp>You'll recall that Facebook's highly anticipated IPO was a bit of a fiasco, with shares finishing on the first day of trading just about a half-percent over the opening price -- and only with the \u003ca href=\"http://www.latimes.com/business/technology/la-fi-tn-facebook-trading-20120518,0,6622700.story\">help of large buy orders from the underwriter\u003c/a>, to boot. The Big Facebook Bang was also \u003ca href=\"http://dealbook.nytimes.com/2012/05/18/facebooks-debut-marred-by-trading-glitches/?hp\">marred by trading glitches\u003c/a> on the Nasdaq exchange, as well as later reports that Facebook, soon before the IPO, \u003ca href=\"http://www.reuters.com/article/2012/05/23/us-facebook-analysts-idUSBRE84M08W20120523\">advised analysts for Morgan Stanley and other underwriters\u003c/a> to reduce their revenue estimates for the company.\u003c/p>\n\u003cp>Since its debut, \u003ca href=\"http://finance.yahoo.com/q?s=fb&ql=1\">Facebook shares\u003c/a> have fared even worse, finishing at $31.09 today, substantially below its $38 IPO price.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>On Wednesday, we turned to Sam Hamadeh, CEO of IPO research firm PrivCo, who was a \u003ca href=\"http://articles.businessinsider.com/2011-08-17/tech/30055188_1_facebook-shares-facebook-management-facebook-fatigue\">Facebook bear before it was fashionable\u003c/a>. Hamadeh seemed fairly prescient when he provided us with \u003ca href=\"http://ww2.kqed.org/news/2012/05/16/analysis-facebook-ipo-worth-25-per-share/\">seven reasons to sit out the Facebook IPO\u003c/a> two days before it went public. In fact, one of the top reasons Hamadeh gave for his bearish views on the company (he pegs the real value of Facebook at $25 per share) is that it doesn't have a good way to monetize mobile users. And that, in fact, was the very reason Facebook cited when it told its underwriters to reduce their estimates, according to sources in this \u003ca href=\"http://www.reuters.com/article/2012/05/23/us-facebook-analysts-idUSBRE84M08W20120523\">Reuters report\u003c/a>. \u003c/p>\n\u003cp>\u003c!--more-->\u003c/p>\n\u003cp>Hamadeh called the new analyst ratings released this week \"fairly tepid,\" but said they were still too high. In our conversation, he also said that when it comes to analyst ratings, things haven't changed much on Wall Street since the dot-com scandals of the late 1990s and early 2000s, when a lack of separation between the research and business arms of the big firms incentivized analysts, ostensibly independent evaluators of securities, to vastly inflate their assessments of what stocks were worth. (Check out the \u003ca href=\"http://www.pbs.org/now/politics/wallstreet.html\">difference between public and private analyst opinions at Merrill Lynch during that era here\u003c/a>.)\u003c/p>\n\u003cp>These conflicts of interests were supposedly addressed in 2003 by the so-called \u003ca href=\"http://en.wikipedia.org/wiki/Global_Settlement\">Global Settlement\u003c/a>, which mandated a separation between the banking and research departments at the big Wall Street firms.\u003c/p>\n\u003cp>In reading this, you should keep in mind that Hamadeh's independent research firm is a competitor of the big banks that he is criticizing here. This is an edited transcript:\u003c/p>\n\u003cblockquote>\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So what do you think of the ratings?\u003c/p>\n\u003cp>\u003cstrong>PRIVCO'S SAM HAMADEH\u003c/strong>: It's important for readers to understand that although underwriter research analysts are supposed to be independent, it's expected that virtually all of them of course issue positive recommendations for the company. It's fairly unusual for analyst reports from the underwriter firms involved in the IPO to issue any negative ratings. It would get a lot of publicity but would certainly cost the person their job.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: But there was an analyst from one of the underwriting firms who seemed to be quite negative, putting the value of Facebook shares at $25 per share, like you...\u003c/p>\n\u003cp>\u003cstrong>SAM HAMADEH\u003c/strong>: That was a brave move. I think that analyst is doing so at his peril.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: You mean by virtue of this person issuing a low rating his job is in danger?\u003c/p>\n\u003cp>\u003cstrong>SAM HAMADEH\u003c/strong>: I worked at Goldman Sachs on the investment banking side in the 1990s, before the legal settlement making the research arms that issue ratings more separate from the banking side. But as a practical matter, these guys work in the same building, eat in the same cafeteria -- the analyst is chatting with investors during the road show… It certainly is a job-risking statement to come out with a price target below the IPO price or any sort of underperform rating like that.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So that was a big issue in the 1990s, with the underwriters putting pressure on their analysts to come up with pumped up ratings. Correct?\u003c/p>\n\u003cp>\u003cstrong>SAM HAMADEH\u003c/strong> Absolutely. In the 1990s, technically there was no legal separation between banking and research. You had a lot of emails surface during litigation following the market crash in 2000 and 2001 that showed the bankers telling the analysts we could land this IPO, so we're promising them if we get the IPO, our analysts will issue a buy recommendation for the stock, will talk it up during the road show to investors, and will set a very high price target.\u003c/p>\n\u003cp>The difference today is instead of those emails going back and forth, they do it verbally. That's the only difference. As someone who has been on Wall Street and is no longer on Wall Street but have many connections there, we know how the business works, and the pressure now is done verbally as opposed to email.\u003c/p>\n\u003cp>Today, instead of research analysts' pay being tied to a bonus structure taking into account things like the number of IPOs the firm brings in, they're rewarded with restricted stock based on the company's overall performance or the team's performance, as well as intangibles.\u003c/p>\n\u003cp>The problem is those intangibles include are you being a team player, are you beating up our IPOs as soon as the 40-day quiet period expires? Any analyst that does this repeatedly, from our experience, they shouldn't expect a job at that firm.\u003c/p>\n\u003cp>I've seen the sausage get made. We talk to a lot of investment bankers and people on deal teams off the record, because we have to verify information. As part of those conversations we get other insights as to how the deal is being quote marketed. Which is Wall Street parlance. They literally call it marketing a deal as opposed to explaining or analysis. That's what it is: advertising. Instead of selling soap, you're selling the stock.\u003c/p>\n\u003cp>So as part of the marketing process we have off the record chats about how the star Internet or tech analyst is going to talk to big institutional investors verbally and pump up the stocks' forecast.\u003c/p>\n\u003cp>So for example, what Facebook's going to do in 2015 – that's a judgment call. The analyst has leeway whether they want to predict Facebook is going to do $10 billion in revenue in five years or $30 billion in revenue in five years. With the bank that's the lead underwriter in the deal, you can fully expect the pressure is both explicit and implicit, that the expectation is the analyst is going to be on the high end of those projections.\u003c/p>\n\u003cp>When I was in investment banking in the 1990s, it was very clear we were all part of the same team, we attended pitch meetings together. The goals were to A get the deal, and B have the deal succeed and priced as high as possible; the research analyst's job was to support that effort.\u003c/p>\u003c/blockquote>\n\u003cp>For another opinion, I turned to New York Times financial editor and columnist \u003ca href=\"http://topics.nytimes.com/top/reference/timestopics/people/m/gretchen_morgenson/index.html\">Gretchen Morgenson\u003c/a>, who herself broke a \u003ca href=\"http://topics.nytimes.com/top/reference/timestopics/people/m/gretchen_morgenson/index.html\">story\u003c/a> in 2006 involving the very situation that Hamadeh describes. Here's the lead to that \u003ca href=\"http://query.nytimes.com/gst/fullpage.html?res=9905E6D91130F93AA35757C0A9609C8B63&pagewanted=all\">report\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>ALMOST four years have passed since securities regulators and Wall Street firms signed the $1.4 billion research settlement intended to remove bias from brokerage firm analysts' work. Has enough time gone by for business as usual to return to the Street?\u003c/p>\n\u003cp>That seems to be what some on Wall Street hope, judging from the story of Matthew N. Murray, a veteran analyst and portfolio manager who was recently fired from his post at Rodman & Renshaw, a small brokerage firm in New York City. Mr. Murray, 38, lost his job in March after downgrading the stock of Halozyme Therapeutics, a small biotechnology company he had followed since September 2005. \u003ca href=\"http://query.nytimes.com/gst/fullpage.html?res=9905E6D91130F93AA35757C0A9609C8B63&pagewanted=all\">Full article\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>I read Ms. Morgenson Hamadeh's statements, and here's what she had to say:\u003c/p>\n\u003cblockquote>\u003cp>I think you can see probably that the predisposition to be positive about companies, particularly those with investment banking clients, does continue to be an issue. I haven't done the arithmetic lately, but if you wrre to look out over the horizon and see how many sell ratings you saw out there, they would be few and far between. That alone is an indication that we're still in the accentuate-the-positive mode. As long as that goes on, investors should be wary of putting too much credence in these analysts' ratings.\u003c/p>\n\u003cp>I think the analyst that you quote – his points are well taken.\u003c/p>\u003c/blockquote>\n\u003cp>One thing, though: Financial regulators are now looking into Facebook's alleged selected guidance to analysts that they \u003cem>lower\u003c/em> their forecasts, which they did. Doesn't that contradict Hamadeh's claim that analysts for underwriters always \u003cem>inflate\u003c/em> their estimates? I asked him in a follow-up, and here's what he said:\u003c/p>\n\u003cblockquote>\u003cp>Yes, Facebook's underwriters did the rare reduction in forecasts in the middle of its IPO roadshow, which is virtually unheard of. And that is now the subject of much securities litigation and SEC and FINRA regulatory scrutiny.\u003c/p>\n\u003cp>Aside from the fairly unprecedented case of Facebook, IPO underwriter analysts virtually always do two things:\u003c/p>\n\u003cp>1.) Set the forecast for the first quarter as a public company as low as possible, so that the company is all but guaranteed to beat them. No newly public company can be seen missing its first quarter. (In Facebook's case, the underwriter analysts already had fairly lowball estimates for the current, second quarter, but they were directed by Facebook's CFO to lower them even further given how weak the 2nd quarter numbers were coming in.\u003c/p>\n\u003cp>2.) Set the forecasts for future periods as high as possible. And Facebook's underwriter analysts kept financial forecasts for further out periods (2014-2016) as high as they were initially. This is par for the course to justify the IPO's valuation. Typically the firms quietly reduce them long after the IPO.\u003c/p>\u003c/blockquote>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>FYI, I left a message with BMO Capital Markets, one of the Facebook underwriters, whose analyst issued the $25 per share target price for the stock, which, according to Hamadeh, will put his job in peril. They never got back to me.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cfigure id=\"attachment_69238\" class=\"wp-caption alignright\" style=\"max-width: 276px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/WallStreetSignGeneric20120305.jpg\">\u003cimg class=\"size-medium wp-image-69238\" title=\"WallStreetSignGeneric20120305\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/WallStreetSignGeneric20120305-300x200.jpg\" alt=\"\" width=\"276\" height=\"184\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Getty Images\u003c/figcaption>\u003c/figure>\n\u003cp>On Wednesday, the 40-day quiet period ended for research analysts from companies involved in the Facebook IPO, meaning they were free to issue ratings and price targets on the stock.\u003c/p>\n\u003cp>From the \u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html\">Wall Street Journal:\u003cbr>\n\u003c/a>\u003c/p>\n\u003cp>\"By midmorning, analysts at eight banks, including the three lead underwriters Morgan Stanley, J.P. Morgan Chase and Goldman Sachs Group Inc. had rated the stock a 'buy.' Another nine dubbed the shares a 'hold,\"' and one, BMO Capital Markets bestowed the equivalent of a rare 'sell' rating on the stock. Price targets for analysts who provided them Wednesday ranged from $25 to $45, with the average $37.71.\"\u003c/p>\n\u003cp>You'll recall that Facebook's highly anticipated IPO was a bit of a fiasco, with shares finishing on the first day of trading just about a half-percent over the opening price -- and only with the \u003ca href=\"http://www.latimes.com/business/technology/la-fi-tn-facebook-trading-20120518,0,6622700.story\">help of large buy orders from the underwriter\u003c/a>, to boot. The Big Facebook Bang was also \u003ca href=\"http://dealbook.nytimes.com/2012/05/18/facebooks-debut-marred-by-trading-glitches/?hp\">marred by trading glitches\u003c/a> on the Nasdaq exchange, as well as later reports that Facebook, soon before the IPO, \u003ca href=\"http://www.reuters.com/article/2012/05/23/us-facebook-analysts-idUSBRE84M08W20120523\">advised analysts for Morgan Stanley and other underwriters\u003c/a> to reduce their revenue estimates for the company.\u003c/p>\n\u003cp>Since its debut, \u003ca href=\"http://finance.yahoo.com/q?s=fb&ql=1\">Facebook shares\u003c/a> have fared even worse, finishing at $31.09 today, substantially below its $38 IPO price.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>On Wednesday, we turned to Sam Hamadeh, CEO of IPO research firm PrivCo, who was a \u003ca href=\"http://articles.businessinsider.com/2011-08-17/tech/30055188_1_facebook-shares-facebook-management-facebook-fatigue\">Facebook bear before it was fashionable\u003c/a>. Hamadeh seemed fairly prescient when he provided us with \u003ca href=\"http://ww2.kqed.org/news/2012/05/16/analysis-facebook-ipo-worth-25-per-share/\">seven reasons to sit out the Facebook IPO\u003c/a> two days before it went public. In fact, one of the top reasons Hamadeh gave for his bearish views on the company (he pegs the real value of Facebook at $25 per share) is that it doesn't have a good way to monetize mobile users. And that, in fact, was the very reason Facebook cited when it told its underwriters to reduce their estimates, according to sources in this \u003ca href=\"http://www.reuters.com/article/2012/05/23/us-facebook-analysts-idUSBRE84M08W20120523\">Reuters report\u003c/a>. \u003c/p>\n\u003cp>\u003c!--more-->\u003c/p>\n\u003cp>Hamadeh called the new analyst ratings released this week \"fairly tepid,\" but said they were still too high. In our conversation, he also said that when it comes to analyst ratings, things haven't changed much on Wall Street since the dot-com scandals of the late 1990s and early 2000s, when a lack of separation between the research and business arms of the big firms incentivized analysts, ostensibly independent evaluators of securities, to vastly inflate their assessments of what stocks were worth. (Check out the \u003ca href=\"http://www.pbs.org/now/politics/wallstreet.html\">difference between public and private analyst opinions at Merrill Lynch during that era here\u003c/a>.)\u003c/p>\n\u003cp>These conflicts of interests were supposedly addressed in 2003 by the so-called \u003ca href=\"http://en.wikipedia.org/wiki/Global_Settlement\">Global Settlement\u003c/a>, which mandated a separation between the banking and research departments at the big Wall Street firms.\u003c/p>\n\u003cp>In reading this, you should keep in mind that Hamadeh's independent research firm is a competitor of the big banks that he is criticizing here. This is an edited transcript:\u003c/p>\n\u003cblockquote>\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So what do you think of the ratings?\u003c/p>\n\u003cp>\u003cstrong>PRIVCO'S SAM HAMADEH\u003c/strong>: It's important for readers to understand that although underwriter research analysts are supposed to be independent, it's expected that virtually all of them of course issue positive recommendations for the company. It's fairly unusual for analyst reports from the underwriter firms involved in the IPO to issue any negative ratings. It would get a lot of publicity but would certainly cost the person their job.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: But there was an analyst from one of the underwriting firms who seemed to be quite negative, putting the value of Facebook shares at $25 per share, like you...\u003c/p>\n\u003cp>\u003cstrong>SAM HAMADEH\u003c/strong>: That was a brave move. I think that analyst is doing so at his peril.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: You mean by virtue of this person issuing a low rating his job is in danger?\u003c/p>\n\u003cp>\u003cstrong>SAM HAMADEH\u003c/strong>: I worked at Goldman Sachs on the investment banking side in the 1990s, before the legal settlement making the research arms that issue ratings more separate from the banking side. But as a practical matter, these guys work in the same building, eat in the same cafeteria -- the analyst is chatting with investors during the road show… It certainly is a job-risking statement to come out with a price target below the IPO price or any sort of underperform rating like that.\u003c/p>\n\u003cp>\u003cstrong>JON BROOKS\u003c/strong>: So that was a big issue in the 1990s, with the underwriters putting pressure on their analysts to come up with pumped up ratings. Correct?\u003c/p>\n\u003cp>\u003cstrong>SAM HAMADEH\u003c/strong> Absolutely. In the 1990s, technically there was no legal separation between banking and research. You had a lot of emails surface during litigation following the market crash in 2000 and 2001 that showed the bankers telling the analysts we could land this IPO, so we're promising them if we get the IPO, our analysts will issue a buy recommendation for the stock, will talk it up during the road show to investors, and will set a very high price target.\u003c/p>\n\u003cp>The difference today is instead of those emails going back and forth, they do it verbally. That's the only difference. As someone who has been on Wall Street and is no longer on Wall Street but have many connections there, we know how the business works, and the pressure now is done verbally as opposed to email.\u003c/p>\n\u003cp>Today, instead of research analysts' pay being tied to a bonus structure taking into account things like the number of IPOs the firm brings in, they're rewarded with restricted stock based on the company's overall performance or the team's performance, as well as intangibles.\u003c/p>\n\u003cp>The problem is those intangibles include are you being a team player, are you beating up our IPOs as soon as the 40-day quiet period expires? Any analyst that does this repeatedly, from our experience, they shouldn't expect a job at that firm.\u003c/p>\n\u003cp>I've seen the sausage get made. We talk to a lot of investment bankers and people on deal teams off the record, because we have to verify information. As part of those conversations we get other insights as to how the deal is being quote marketed. Which is Wall Street parlance. They literally call it marketing a deal as opposed to explaining or analysis. That's what it is: advertising. Instead of selling soap, you're selling the stock.\u003c/p>\n\u003cp>So as part of the marketing process we have off the record chats about how the star Internet or tech analyst is going to talk to big institutional investors verbally and pump up the stocks' forecast.\u003c/p>\n\u003cp>So for example, what Facebook's going to do in 2015 – that's a judgment call. The analyst has leeway whether they want to predict Facebook is going to do $10 billion in revenue in five years or $30 billion in revenue in five years. With the bank that's the lead underwriter in the deal, you can fully expect the pressure is both explicit and implicit, that the expectation is the analyst is going to be on the high end of those projections.\u003c/p>\n\u003cp>When I was in investment banking in the 1990s, it was very clear we were all part of the same team, we attended pitch meetings together. The goals were to A get the deal, and B have the deal succeed and priced as high as possible; the research analyst's job was to support that effort.\u003c/p>\u003c/blockquote>\n\u003cp>For another opinion, I turned to New York Times financial editor and columnist \u003ca href=\"http://topics.nytimes.com/top/reference/timestopics/people/m/gretchen_morgenson/index.html\">Gretchen Morgenson\u003c/a>, who herself broke a \u003ca href=\"http://topics.nytimes.com/top/reference/timestopics/people/m/gretchen_morgenson/index.html\">story\u003c/a> in 2006 involving the very situation that Hamadeh describes. Here's the lead to that \u003ca href=\"http://query.nytimes.com/gst/fullpage.html?res=9905E6D91130F93AA35757C0A9609C8B63&pagewanted=all\">report\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>ALMOST four years have passed since securities regulators and Wall Street firms signed the $1.4 billion research settlement intended to remove bias from brokerage firm analysts' work. Has enough time gone by for business as usual to return to the Street?\u003c/p>\n\u003cp>That seems to be what some on Wall Street hope, judging from the story of Matthew N. Murray, a veteran analyst and portfolio manager who was recently fired from his post at Rodman & Renshaw, a small brokerage firm in New York City. Mr. Murray, 38, lost his job in March after downgrading the stock of Halozyme Therapeutics, a small biotechnology company he had followed since September 2005. \u003ca href=\"http://query.nytimes.com/gst/fullpage.html?res=9905E6D91130F93AA35757C0A9609C8B63&pagewanted=all\">Full article\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>I read Ms. Morgenson Hamadeh's statements, and here's what she had to say:\u003c/p>\n\u003cblockquote>\u003cp>I think you can see probably that the predisposition to be positive about companies, particularly those with investment banking clients, does continue to be an issue. I haven't done the arithmetic lately, but if you wrre to look out over the horizon and see how many sell ratings you saw out there, they would be few and far between. That alone is an indication that we're still in the accentuate-the-positive mode. As long as that goes on, investors should be wary of putting too much credence in these analysts' ratings.\u003c/p>\n\u003cp>I think the analyst that you quote – his points are well taken.\u003c/p>\u003c/blockquote>\n\u003cp>One thing, though: Financial regulators are now looking into Facebook's alleged selected guidance to analysts that they \u003cem>lower\u003c/em> their forecasts, which they did. Doesn't that contradict Hamadeh's claim that analysts for underwriters always \u003cem>inflate\u003c/em> their estimates? I asked him in a follow-up, and here's what he said:\u003c/p>\n\u003cblockquote>\u003cp>Yes, Facebook's underwriters did the rare reduction in forecasts in the middle of its IPO roadshow, which is virtually unheard of. And that is now the subject of much securities litigation and SEC and FINRA regulatory scrutiny.\u003c/p>\n\u003cp>Aside from the fairly unprecedented case of Facebook, IPO underwriter analysts virtually always do two things:\u003c/p>\n\u003cp>1.) Set the forecast for the first quarter as a public company as low as possible, so that the company is all but guaranteed to beat them. No newly public company can be seen missing its first quarter. (In Facebook's case, the underwriter analysts already had fairly lowball estimates for the current, second quarter, but they were directed by Facebook's CFO to lower them even further given how weak the 2nd quarter numbers were coming in.\u003c/p>\n\u003cp>2.) Set the forecasts for future periods as high as possible. And Facebook's underwriter analysts kept financial forecasts for further out periods (2014-2016) as high as they were initially. This is par for the course to justify the IPO's valuation. Typically the firms quietly reduce them long after the IPO.\u003c/p>\u003c/blockquote>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>FYI, I left a message with BMO Capital Markets, one of the Facebook underwriters, whose analyst issued the $25 per share target price for the stock, which, according to Hamadeh, will put his job in peril. They never got back to me.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>About five years ago I had some time to kill, wandered into an Apple store, and picked up the new phone everyone was talking about. I played with a little, then set it down, cursing. I had just purchased a competitor’s top-of-the line phone, and after just a couple of minutes with Apple’s offering, my new toy suddenly felt like it was powered by whatever the phone equivalent is to \u003ca href=\"http://1.bp.blogspot.com/_nAOO5ErLJRA/S81LkNmth9I/AAAAAAAAAFc/2mwU0_y3urk/s1600/msdos.jpg\">MS-DOS\u003c/a>. \u003c/p>\n\u003cp>Today marks the fifth anniversary of the iPhone going on sale. Business Insider has a \u003ca href=\"http://www.businessinsider.com/the-iphone-is-5-years-old-2012-6\">rundown of just how successful Apple’s product has been\u003c/a>. It’s a pretty incredible list, and it reminds me of \u003ca href=\"http://techcrunch.com/2012/01/24/boom-boom-boom-boom-boom-boom/\">what one analyst said\u003c/a> after the company’s January earnings report: “The numbers are so big that they almost seem like they should be typos.”\u003c/p>\n\u003cp>Here’s \u003ca href=\"http://news.cnet.com/8301-13579_3-57462913-37/blast-from-the-past-steve-jobs-debuts-iphone-video/?part=rss&subj=news&tag=title\">video\u003c/a> from CNET of Steve Jobs unveiling for the first time what he called “a revolutionary mobile phone” at the 2007 Macworld Convention. \u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\u003cp>\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>About five years ago I had some time to kill, wandered into an Apple store, and picked up the new phone everyone was talking about. I played with a little, then set it down, cursing. I had just purchased a competitor’s top-of-the line phone, and after just a couple of minutes with Apple’s offering, my new toy suddenly felt like it was powered by whatever the phone equivalent is to \u003ca href=\"http://1.bp.blogspot.com/_nAOO5ErLJRA/S81LkNmth9I/AAAAAAAAAFc/2mwU0_y3urk/s1600/msdos.jpg\">MS-DOS\u003c/a>. \u003c/p>\n\u003cp>Today marks the fifth anniversary of the iPhone going on sale. Business Insider has a \u003ca href=\"http://www.businessinsider.com/the-iphone-is-5-years-old-2012-6\">rundown of just how successful Apple’s product has been\u003c/a>. It’s a pretty incredible list, and it reminds me of \u003ca href=\"http://techcrunch.com/2012/01/24/boom-boom-boom-boom-boom-boom/\">what one analyst said\u003c/a> after the company’s January earnings report: “The numbers are so big that they almost seem like they should be typos.”\u003c/p>\n\u003cp>Here’s \u003ca href=\"http://news.cnet.com/8301-13579_3-57462913-37/blast-from-the-past-steve-jobs-debuts-iphone-video/?part=rss&subj=news&tag=title\">video\u003c/a> from CNET of Steve Jobs unveiling for the first time what he called “a revolutionary mobile phone” at the 2007 Macworld Convention. \u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"disqusTitle": "Analysts Issue Ratings and Price Targets for Facebook; Chart of Today's New Ratings",
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"content": "\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/facebook-logo4.jpg\">\u003cimg class=\"alignright size-medium wp-image-65792\" title=\"facebook-logo\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/facebook-logo4-300x112.jpg\" alt=\"\" width=\"221\" height=\"83\">\u003c/a>Today, stock analysts from companies that worked on Facebook's IPO are freed up to flaunt the fundamental rules of the space-time continuum by pouring forth their opinions on what's going to happen with the company's stock -- in the, you know, future...\u003c/p>\n\u003cp>From AP:\u003c/p>\n\u003cblockquote>\u003cp>The Wall Street analysts who know Facebook best are giving the company's stock a mixed review. Think: like, not love.\u003c/p>\n\u003caside class=\"pullquote alignleft\">\n\u003cul>\n\u003cli>\u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html#project%3DFBANALYSTS20120627%26articleTabs%3Dinteractive\">\u003c/a>\u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html#project%3DFBANALYSTS20120627%26articleTabs%3Dinteractive\">List of today's analyst ratings\u003c/a>\n\u003c/li>\u003cli>\u003ca href=\"http://finance.yahoo.com/q/ao?s=FB+Analyst+Opinion\">More analyst opinions\u003c/a>\u003c/li>\u003c/ul>\n\u003c/aside>\n\u003cp>A flood of analyst reports from the banks that led Facebook's initial public offering gave the company's stock a mix of ``Neutral'' and ``Buy'' ratings on Wednesday. The day marks the end of a 40-day quiet period following the IPO, during which the underwriters aren't allowed to issue ratings.\u003c/p>\n\u003cp>Morgan Stanley, the lead bank in the IPO, gave a $38 target price for Facebook's stock over the next 12 months. That's the same as the IPO price Facebook has failed to match since its first day of trading. The analyst says Facebook has long-term opportunities in mobile despite decent concerns.\u003c/p>\u003c/blockquote>\n\u003cp>And from the \u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html\">Wall Street Journal\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>By midmorning, analysts at eight banks, including the three lead underwriters Morgan Stanley, J.P. Morgan Chaseand Goldman Sachs Group Inc. had rated the stock a \"buy.\" Another nine dubbed the shares a \"hold,\" and one, BMO Capital Markets bestowed the equivalent of a rare \"sell\" rating on the stock.\u003c/p>\n\u003cp>Price targets for analysts who provided them Wednesday ranged from $25 to $45, with the average $37.71. That figure was just a hair lower than the consensus for analysts at firms uninvolved in the offering who had previously began covering the company. It was also shy of the $38 price at which underwriting banks initially sold Facebook shares.\u003c/p>\n\u003cp>A price target reflects what an analyst thinks a share will be worth, usually within a 12-to-18-month period. While not all reports Wednesday specified a time frame, those that did generally pointed to that period.\u003c/p>\u003c/blockquote>\n\u003cp>The Journal has also posted a \u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html#project%3DFBANALYSTS20120627%26articleTabs%3Dinteractive\">\u003cstrong>chart of today's analyst ratings and price targets\u003c/strong>\u003c/a>. The top bull is J.P. Morgan, whose analyst pegs the future stock value at $45 per share. The biggest party pooper is from BMO, who offered a chintzy $25 target.\u003c/p>\n\u003cp>Then there's this guy, Eric Jackson, founder of Ironfire Capital and a Forbes columnist, who said this three weeks ago on \u003ca href=\"http://www.cnbc.com/id/47674474\">CNBC\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>\"In five to eight years they are going to disappear in the way that Yahoo has disappeared,\" Jackson said. \"Yahoo is still making money, it's still profitable, still has 13,000 employees working for it, but it's 10 percent of the value that it was at the height of 2000. For all intents and purposes, it's disappeared.\"\u003c/p>\u003c/blockquote>\n\u003cp>\u003ca href=\"http://video.cnbc.com/gallery/?video=3000093999\">Video here\u003c/a>.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>More \u003ca href=\"http://finance.yahoo.com/q/ao?s=FB+Analyst+Opinion\">analyst opinions\u003c/a> at Yahoo! Finance.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Coming up: An interview with Sam Hamadeh of IPO research firm Privco, who pegged the fair value of Facebook shares at $25 and still does. He minced no words in offering the opinion that you have to take the ratings of analysts who work for firms doing o business with the companies they rate with several grains of salt.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/facebook-logo4.jpg\">\u003cimg class=\"alignright size-medium wp-image-65792\" title=\"facebook-logo\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/05/facebook-logo4-300x112.jpg\" alt=\"\" width=\"221\" height=\"83\">\u003c/a>Today, stock analysts from companies that worked on Facebook's IPO are freed up to flaunt the fundamental rules of the space-time continuum by pouring forth their opinions on what's going to happen with the company's stock -- in the, you know, future...\u003c/p>\n\u003cp>From AP:\u003c/p>\n\u003cblockquote>\u003cp>The Wall Street analysts who know Facebook best are giving the company's stock a mixed review. Think: like, not love.\u003c/p>\n\u003caside class=\"pullquote alignleft\">\n\u003cul>\n\u003cli>\u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html#project%3DFBANALYSTS20120627%26articleTabs%3Dinteractive\">\u003c/a>\u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html#project%3DFBANALYSTS20120627%26articleTabs%3Dinteractive\">List of today's analyst ratings\u003c/a>\n\u003c/li>\u003cli>\u003ca href=\"http://finance.yahoo.com/q/ao?s=FB+Analyst+Opinion\">More analyst opinions\u003c/a>\u003c/li>\u003c/ul>\n\u003c/aside>\n\u003cp>A flood of analyst reports from the banks that led Facebook's initial public offering gave the company's stock a mix of ``Neutral'' and ``Buy'' ratings on Wednesday. The day marks the end of a 40-day quiet period following the IPO, during which the underwriters aren't allowed to issue ratings.\u003c/p>\n\u003cp>Morgan Stanley, the lead bank in the IPO, gave a $38 target price for Facebook's stock over the next 12 months. That's the same as the IPO price Facebook has failed to match since its first day of trading. The analyst says Facebook has long-term opportunities in mobile despite decent concerns.\u003c/p>\u003c/blockquote>\n\u003cp>And from the \u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html\">Wall Street Journal\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>By midmorning, analysts at eight banks, including the three lead underwriters Morgan Stanley, J.P. Morgan Chaseand Goldman Sachs Group Inc. had rated the stock a \"buy.\" Another nine dubbed the shares a \"hold,\" and one, BMO Capital Markets bestowed the equivalent of a rare \"sell\" rating on the stock.\u003c/p>\n\u003cp>Price targets for analysts who provided them Wednesday ranged from $25 to $45, with the average $37.71. That figure was just a hair lower than the consensus for analysts at firms uninvolved in the offering who had previously began covering the company. It was also shy of the $38 price at which underwriting banks initially sold Facebook shares.\u003c/p>\n\u003cp>A price target reflects what an analyst thinks a share will be worth, usually within a 12-to-18-month period. While not all reports Wednesday specified a time frame, those that did generally pointed to that period.\u003c/p>\u003c/blockquote>\n\u003cp>The Journal has also posted a \u003ca href=\"http://online.wsj.com/article/SB10001424052702303561504577492121502368062.html#project%3DFBANALYSTS20120627%26articleTabs%3Dinteractive\">\u003cstrong>chart of today's analyst ratings and price targets\u003c/strong>\u003c/a>. The top bull is J.P. Morgan, whose analyst pegs the future stock value at $45 per share. The biggest party pooper is from BMO, who offered a chintzy $25 target.\u003c/p>\n\u003cp>Then there's this guy, Eric Jackson, founder of Ironfire Capital and a Forbes columnist, who said this three weeks ago on \u003ca href=\"http://www.cnbc.com/id/47674474\">CNBC\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>\"In five to eight years they are going to disappear in the way that Yahoo has disappeared,\" Jackson said. \"Yahoo is still making money, it's still profitable, still has 13,000 employees working for it, but it's 10 percent of the value that it was at the height of 2000. For all intents and purposes, it's disappeared.\"\u003c/p>\u003c/blockquote>\n\u003cp>\u003ca href=\"http://video.cnbc.com/gallery/?video=3000093999\">Video here\u003c/a>.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>More \u003ca href=\"http://finance.yahoo.com/q/ao?s=FB+Analyst+Opinion\">analyst opinions\u003c/a> at Yahoo! Finance.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Coming up: An interview with Sam Hamadeh of IPO research firm Privco, who pegged the fair value of Facebook shares at $25 and still does. He minced no words in offering the opinion that you have to take the ratings of analysts who work for firms doing o business with the companies they rate with several grains of salt.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>Around the world, the dominoes of debt are teetering, and one of the biggest to hit the ground may be the City of Stockton.\u003c/p>\n\u003cfigure id=\"attachment_68627\" class=\"wp-caption alignright\" style=\"max-width: 300px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/StocktonSign0422.jpg\">\u003cimg class=\"size-medium wp-image-68627\" title=\"Stockton, CA Leads Nation In Rate Of Foreclosures\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/StocktonSign0422-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The City of Stockton would be the largest city yet to go bankrupt. (Justin Sullivan/Getty Images)\u003c/figcaption>\u003c/figure>\n\u003cp>The city is hoping against hope that mediation with its bondholders, now underway, will result in a new deal by Monday. There's scant room for maneuver after that date because the city must produce a balanced budget by July 1.\u003c/p>\n\u003cp>Without a deal, the city will likely plunge into bankruptcy, according to \u003ca href=\"http://www.recordnet.com/apps/pbcs.dll/article?AID=/20120620/A_NEWS/120629986\">Stockton Record\u003c/a> city hall reporter Scott Smith. It would be the largest city in the US to go belly up.\u003c/p>\n\u003cp>The following is an edited version of an interview that The California Report’s Rachael Myrow’s conducted with Smith:\u003c/p>\n\u003cp>\u003cstrong>RACHAEL MYROW\u003c/strong>: How did Stockton get into trouble?\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003cstrong>SCOTT SMITH\u003c/strong>: The city basically overextended itself in debt back prior to the Great Recession, which began in 2008. It built a lot of capital projects. There’s a downtown waterfront ballpark sports complex, an arena. They built a marina. The city also negotiated generous benefits and employee packages with city employees, and also created back in the 90’s a retirement healthcare package for its employees which it never really funded.\u003c/p>\n\u003cp>\u003cstrong>RACHAEL MYROW\u003c/strong>: So I know the mediation talks are supposed to be secret, but do we have any idea how they’re going?\u003c/p>\n\u003cp>\u003cstrong>SCOTT SMITH\u003c/strong>: It’s an informal process now for the last three months, and so there’s no real hammer to make people make any deals. The sense is that if the bond holders were to take a haircut, to take a cut on their investment, that’s going to set a bad precedent. Other cities in California in similar, dire situations are going to follow suit. So the sense is that no one’s going to budge, it looks very likely that bankruptcy is going to be in Stockton’s near future.\u003c/p>\n\u003cp>\u003cstrong>RACHAEL MYROW\u003c/strong>: Talk a bit more about that bankruptcy contingency plan. The Stockton officials have \u003ca href=\"http://www.stocktongov.com/government/departments/adminServices/budget.html.\">posted it online\u003c/a> for people to see What are the key elements of it?\u003c/p>\n\u003cp>\u003cstrong>SCOTT SMITH\u003c/strong>: The city is facing a $26 million deficit to its general funds, come July 1st. Basically they chip away at that. They say, “Okay, we’re going to spend about $12 million in bond payments on some of those projects, and some of those obligations.” To some of the litigants that have filed lawsuits against the city, they say, “Okay, we’re not going to pay that.” And they’re also making some reductions to what the city pays to retirees and their healthcare.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp> \u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>Around the world, the dominoes of debt are teetering, and one of the biggest to hit the ground may be the City of Stockton.\u003c/p>\n\u003cfigure id=\"attachment_68627\" class=\"wp-caption alignright\" style=\"max-width: 300px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/StocktonSign0422.jpg\">\u003cimg class=\"size-medium wp-image-68627\" title=\"Stockton, CA Leads Nation In Rate Of Foreclosures\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/StocktonSign0422-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The City of Stockton would be the largest city yet to go bankrupt. (Justin Sullivan/Getty Images)\u003c/figcaption>\u003c/figure>\n\u003cp>The city is hoping against hope that mediation with its bondholders, now underway, will result in a new deal by Monday. There's scant room for maneuver after that date because the city must produce a balanced budget by July 1.\u003c/p>\n\u003cp>Without a deal, the city will likely plunge into bankruptcy, according to \u003ca href=\"http://www.recordnet.com/apps/pbcs.dll/article?AID=/20120620/A_NEWS/120629986\">Stockton Record\u003c/a> city hall reporter Scott Smith. It would be the largest city in the US to go belly up.\u003c/p>\n\u003cp>The following is an edited version of an interview that The California Report’s Rachael Myrow’s conducted with Smith:\u003c/p>\n\u003cp>\u003cstrong>RACHAEL MYROW\u003c/strong>: How did Stockton get into trouble?\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003cstrong>SCOTT SMITH\u003c/strong>: The city basically overextended itself in debt back prior to the Great Recession, which began in 2008. It built a lot of capital projects. There’s a downtown waterfront ballpark sports complex, an arena. They built a marina. The city also negotiated generous benefits and employee packages with city employees, and also created back in the 90’s a retirement healthcare package for its employees which it never really funded.\u003c/p>\n\u003cp>\u003cstrong>RACHAEL MYROW\u003c/strong>: So I know the mediation talks are supposed to be secret, but do we have any idea how they’re going?\u003c/p>\n\u003cp>\u003cstrong>SCOTT SMITH\u003c/strong>: It’s an informal process now for the last three months, and so there’s no real hammer to make people make any deals. The sense is that if the bond holders were to take a haircut, to take a cut on their investment, that’s going to set a bad precedent. Other cities in California in similar, dire situations are going to follow suit. So the sense is that no one’s going to budge, it looks very likely that bankruptcy is going to be in Stockton’s near future.\u003c/p>\n\u003cp>\u003cstrong>RACHAEL MYROW\u003c/strong>: Talk a bit more about that bankruptcy contingency plan. The Stockton officials have \u003ca href=\"http://www.stocktongov.com/government/departments/adminServices/budget.html.\">posted it online\u003c/a> for people to see What are the key elements of it?\u003c/p>\n\u003cp>\u003cstrong>SCOTT SMITH\u003c/strong>: The city is facing a $26 million deficit to its general funds, come July 1st. Basically they chip away at that. They say, “Okay, we’re going to spend about $12 million in bond payments on some of those projects, and some of those obligations.” To some of the litigants that have filed lawsuits against the city, they say, “Okay, we’re not going to pay that.” And they’re also making some reductions to what the city pays to retirees and their healthcare.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp> \u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>By The Associated Press\u003c/p>\n\u003cp>WISH GRANTED: Google shareholders approved an unusual stock split that CEO Larry Page wanted to ensure that he and the company's other co-founder, Sergey Brin, retain most of the voting power at the Internet search player. The split will create a new class of non-voting stock.\u003c/p>\n\u003cp>SURPRISE ABSENCE: Approval had been a foregone conclusion at Thursday's annual shareholder meeting, but not everything went according to plan. Page missed the meeting because he lost his voice. Google Inc. didn't provide further details about Page's condition.\u003c/p>\n\u003cp>WHAT'S NEXT: Google doesn't expect to split its stock until October at the earliest. \u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\u003cp>\u003c/p>\n",
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"content": "\u003cp>The latest electric vehicle to hit the road can accelerate from 0 to 60 miles per hour in 4.4 seconds with barely a sound. But will it overtake the competition?\u003c/p>\n\u003cfigure id=\"attachment_68320\" class=\"wp-caption alignleft\" style=\"max-width: 384px\">\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/model-s-alpha-and-roadster_90x60_h1.jpg\">\u003cimg class=\"size-full wp-image-68320\" title=\"model-s-alpha-and-roadster_90x60_h\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/06/model-s-alpha-and-roadster_90x60_h1.jpg\" alt=\"\" width=\"384\" height=\"356\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Tesla Motors' Model S (right) is the second model it has released. The Roadster (left) was its first. (Tesla Motors)\u003c/figcaption>\u003c/figure>\n\u003cp>Elon Musk, CEO of Tesla Motors, says his company has already set the trend, forcing other automakers to launch their own electric vehicles for fear of being left in the dust. Tesla will release its second all-electric vehicle on June 22.\u003c/p>\n\u003cp>But Tesla faces a slippery road ahead. The high price and low range of the company’s new Model S have led many on Wall Street to bet against the company, making it one of the most shorted stocks on the NASDAQ stock exchange.\u003c/p>\n\u003cp>The basic model, for $50,000 (after federal rebates) can reach 150 miles on a fully charged battery. A fully loaded $100,000-version of the Model S can go 300 miles without a recharge.\u003c/p>\n\u003cp>Alison van Diggelen visited the factory on June 14 on assignment for \u003ca href=\"http://www.californiareport.org/archive/R201206200850/a\">The California Report\u003c/a>.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>At the factory, Gilbert Passin, VP of manufacturing, explained the care the company is taking to impress its first buyers. “The people working here know this is the end of the line, so it has to be good,” he said.\u003c/p>\n\u003cp>He pointed to the assembly line. “See the robot is actually picking up the part in slow motion to make sure that everything works well…you don’t want anything to break.”\u003c/p>\n\u003cp>The Model S is phase two of Musk’s master plan to disrupt the car industry and create efficient, sustainable transportation. The Roadster, released in 2008, cost $100,000.\u003c/p>\n\u003cp>So far, Tesla has 10,000 reservations for the Model S and will deliver about half this year, ramping up to 20,000 in 2013 if the orders continue to come.\u003c/p>\n\u003cp>As for Tesla's car \"for the masses,\" priced around $30,000, there's no confirmed release date.\u003c/p>\n\u003cp>Although these challenges seem formidable, Musk is attacking them like a tech superhero, reportedly working 80-90 hours a week, with his time split between Tesla and his space exploration company, SpaceX.\u003c/p>\n\u003cp>Last month, Musk proved naysayers wrong with his historic SpaceX Mission to the international space station. Can he do the same with the Model S?\u003c/p>\n\u003cp>“It’s not just so much a make or break it for Tesla, it is very much a make or break it for the entire [electric vehicle] industry,” said Damon Lavrinc, a transportation writer for Wired Magazine.\u003c/p>\n\u003cp>For many in the Bay Area the question is not abstract. Many of the company’s 1,400 employees work at the former New United Motors Manufacturing Inc (NUMMI) auto plant in Fremont built as a collaboration of Toyota and General Motors.\u003c/p>\n\u003cp>NUMMI closed in 2010, leaving 4,800 workers out of work. Tesla, which bought the factory, has employed a much smaller workforce there so far.\u003c/p>\n\u003cp>So many of the former NUMMI workers remain unemployed that the U.S. Department of Labor is giving them a $5,990,725 National Emergency Grant for retraining and related services.\u003c/p>\n\u003cp>With this new grant, announced on June 19, the department will have awarded these workers a total of $25,032,732.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>A new successful new California automaker might be the best news possible for the former plant workers -- and taxpayers as well.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>At the factory, Gilbert Passin, VP of manufacturing, explained the care the company is taking to impress its first buyers. “The people working here know this is the end of the line, so it has to be good,” he said.\u003c/p>\n\u003cp>He pointed to the assembly line. “See the robot is actually picking up the part in slow motion to make sure that everything works well…you don’t want anything to break.”\u003c/p>\n\u003cp>The Model S is phase two of Musk’s master plan to disrupt the car industry and create efficient, sustainable transportation. The Roadster, released in 2008, cost $100,000.\u003c/p>\n\u003cp>So far, Tesla has 10,000 reservations for the Model S and will deliver about half this year, ramping up to 20,000 in 2013 if the orders continue to come.\u003c/p>\n\u003cp>As for Tesla's car \"for the masses,\" priced around $30,000, there's no confirmed release date.\u003c/p>\n\u003cp>Although these challenges seem formidable, Musk is attacking them like a tech superhero, reportedly working 80-90 hours a week, with his time split between Tesla and his space exploration company, SpaceX.\u003c/p>\n\u003cp>Last month, Musk proved naysayers wrong with his historic SpaceX Mission to the international space station. Can he do the same with the Model S?\u003c/p>\n\u003cp>“It’s not just so much a make or break it for Tesla, it is very much a make or break it for the entire [electric vehicle] industry,” said Damon Lavrinc, a transportation writer for Wired Magazine.\u003c/p>\n\u003cp>For many in the Bay Area the question is not abstract. Many of the company’s 1,400 employees work at the former New United Motors Manufacturing Inc (NUMMI) auto plant in Fremont built as a collaboration of Toyota and General Motors.\u003c/p>\n\u003cp>NUMMI closed in 2010, leaving 4,800 workers out of work. Tesla, which bought the factory, has employed a much smaller workforce there so far.\u003c/p>\n\u003cp>So many of the former NUMMI workers remain unemployed that the U.S. Department of Labor is giving them a $5,990,725 National Emergency Grant for retraining and related services.\u003c/p>\n\u003cp>With this new grant, announced on June 19, the department will have awarded these workers a total of $25,032,732.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>A new successful new California automaker might be the best news possible for the former plant workers -- and taxpayers as well.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>Move over, New York. The City of Richmond is going front and center in the war on soda pop.\u003c/p>\n\u003cp>On May 16, the Richmond City Council voted to put a measure on its November ballot that would tax sugary drinks. Two weeks later, when New York Mayor Michael Bloomberg proposed a ban on the sale of such drinks in large containers, he attracted \u003ca href=\"http://www.nytimes.com/2012/05/31/nyregion/bloomberg-plans-a-ban-on-large-sugared-drinks.html?_r=1\">national headlines\u003c/a>. Now our colleague at PBS NewsHour, Spencer Michaels, has visited Richmond to report on the city’s proposed tax.\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003ciframe loading=\"lazy\" src=\"http://www.youtube.com/embed/3QzzG-7q5CU\" frameborder=\"0\" width=\"480\" height=\"270\">\u003c/iframe>\u003c/p>\n\u003cp>Both measures are meant to reduce obesity. But the Richmond measure would allow the sale of sugar-sweetened drinks in containers of any size while imposing a tax of 1 cent per ounce. A separate advisory measure would request that the City Council use money raised through the tax to support youth sports and health education, the \u003ca href=\"http://www.contracostatimes.com/news/ci_20636385/richmond-place-soda-tax-november-ballot\">Contra Costa Times\u003c/a> reports.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>Also unlike Bloomberg’s proposal, which only needs a nod from the Board of Health he appointed, Richmond’s measure must be approved by a majority of voters.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>To that end, the measure’s sponsor, City Councilman Jeff Ritterman, is trying to raise money for a campaign in favor of it, says \u003ca href=\"http://richmondconfidential.org/2012/06/05/ritterman-hopes-to-raise-money-for-soda-tax-campaign/\">Richmond Confidential\u003c/a>.\u003c/p>\n\u003cblockquote>\u003cp>Ritterman has appealed to residents to facilitate fund raising events and throw house parties in the community to raise awareness about the soda tax issue and donating to the campaign. “We can win this, but I need to raise $100,000 for mailings, printing, robo-calls, and lawn signs,” said Ritterman in an email sent out to Richmond residents last week. “We don’t need the money all at once, but we need $15,000 right away for a mailing and for door hangers. We have already started precinct walking.”\u003c/p>\u003c/blockquote>\n\n",
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"content": "\u003cp>\u003ca href=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/03/applelogo1.jpg\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-59762\" title=\"applelogo\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2012/03/applelogo1.jpg\" alt=\"\" width=\"209\" height=\"117\">\u003c/a>SAN FRANCISCO (AP) — Fresh off a disappointing initial public offering, Facebook is getting a big boost from Apple, which is building the social network deep into its iPhone and iPad software.\u003c/p>\n\u003cp>With the next version of Apple Inc.’s software, users will be able to update their Facebook status by talking to their phones.\u003c/p>\n\u003cp>Users will also be able to “Like” movies and apps in Apple’s iTunes store, Apple executive Scott Forstall said in San Francisco at Apple’s annual developers’ conference.\u003c/p>\n\u003caside class=\"pullquote alignleft\">\u003ca href=\"http://events.apple.com.edgesuite.net/126pihbedvcoihbefvbhjkbvsefbg/event/index.html\">Video: Watch Tim Cook’s keynote\u003c/a> (Safari required)\u003c/aside>\n\u003cp>Siri, Apple’s voice-command application, will add a host of new languages, including Spanish, Korean and Mandarin Chinese, Forstall said. “She” will also be able to launch applications and movies. She will also run on iPads for the first time.\u003c/p>\n\u003cp>Apple says the new software, iOS 6, will launch this fall. It updates the software annually, usually coinciding with the release of a new iPhone. \u003c!--more-->Even as Apple lends Facebook a hand, it’s cutting off one of its links to Google Inc., which makes a rival suite of software for smartphones. IOS 6 will use Apple’s own Maps applications rather than Google’s. The application will come with traffic reports and turn-by-turn navigation.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>Apple also said the new version of its Mac operating system, Mountain Lion, will go on sale next month for $20. 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"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Bay-Curious-Podcast-Tile-703x703-1.jpg",
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"officialWebsiteLink": "/news/series/baycurious",
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"source": "kqed",
"order": 3
},
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"npr": "https://www.npr.org/podcasts/500557090/bay-curious",
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}
},
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"id": "bbc-world-service",
"title": "BBC World Service",
"info": "The day's top stories from BBC News compiled twice daily in the week, once at weekends.",
"airtime": "MON-FRI 9pm-10pm, TUE-FRI 1am-2am",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/BBC-World-Service-Podcast-Tile-360x360-1.jpg",
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"meta": {
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"source": "BBC World Service"
},
"link": "/radio/program/bbc-world-service",
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"rss": "https://podcasts.files.bbci.co.uk/p02nq0gn.rss"
}
},
"californiareport": {
"id": "californiareport",
"title": "The California Report",
"tagline": "California, day by day",
"info": "KQED’s statewide radio news program providing daily coverage of issues, trends and public policy decisions.",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/The-California-Report-Podcast-Tile-703x703-1.jpg",
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"officialWebsiteLink": "/californiareport",
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"source": "kqed",
"order": 8
},
"link": "/californiareport",
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}
},
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"id": "californiareportmagazine",
"title": "The California Report Magazine",
"tagline": "Your state, your stories",
"info": "Every week, The California Report Magazine takes you on a road trip for the ears: to visit the places and meet the people who make California unique. The in-depth storytelling podcast from the California Report.",
"airtime": "FRI 4:30pm-5pm, 6:30pm-7pm, 11pm-11:30pm",
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"officialWebsiteLink": "/californiareportmagazine",
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"order": 10
},
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM3NjkwNjk1OTAz",
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},
"city-arts": {
"id": "city-arts",
"title": "City Arts & Lectures",
"info": "A one-hour radio program to hear celebrated writers, artists and thinkers address contemporary ideas and values, often discussing the creative process. Please note: tapes or transcripts are not available",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/05/cityartsandlecture-300x300.jpg",
"officialWebsiteLink": "https://www.cityarts.net/",
"airtime": "SUN 1pm-2pm, TUE 10pm, WED 1am",
"meta": {
"site": "news",
"source": "City Arts & Lectures"
},
"link": "https://www.cityarts.net",
"subscribe": {
"tuneIn": "https://tunein.com/radio/City-Arts-and-Lectures-p692/",
"rss": "https://www.cityarts.net/feed/"
}
},
"closealltabs": {
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"info": "Close All Tabs breaks down how digital culture shapes our world through thoughtful insights and irreverent humor.",
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"officialWebsiteLink": "/podcasts/closealltabs",
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"source": "kqed",
"order": 1
},
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"id": "code-switch-life-kit",
"title": "Code Switch / Life Kit",
"info": "\u003cem>Code Switch\u003c/em>, which listeners will hear in the first part of the hour, has fearless and much-needed conversations about race. Hosted by journalists of color, the show tackles the subject of race head-on, exploring how it impacts every part of society — from politics and pop culture to history, sports and more.\u003cbr />\u003cbr />\u003cem>Life Kit\u003c/em>, which will be in the second part of the hour, guides you through spaces and feelings no one prepares you for — from finances to mental health, from workplace microaggressions to imposter syndrome, from relationships to parenting. The show features experts with real world experience and shares their knowledge. Because everyone needs a little help being human.\u003cbr />\u003cbr />\u003ca href=\"https://www.npr.org/podcasts/510312/codeswitch\">\u003cem>Code Switch\u003c/em> offical site and podcast\u003c/a>\u003cbr />\u003ca href=\"https://www.npr.org/lifekit\">\u003cem>Life Kit\u003c/em> offical site and podcast\u003c/a>\u003cbr />",
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"meta": {
"site": "radio",
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},
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"id": "commonwealth-club",
"title": "Commonwealth Club of California Podcast",
"info": "The Commonwealth Club of California is the nation's oldest and largest public affairs forum. As a non-partisan forum, The Club brings to the public airwaves diverse viewpoints on important topics. The Club's weekly radio broadcast - the oldest in the U.S., dating back to 1924 - is carried across the nation on public radio stations and is now podcasting. Our website archive features audio of our recent programs, as well as selected speeches from our long and distinguished history. This podcast feed is usually updated twice a week and is always un-edited.",
"airtime": "THU 10pm, FRI 1am",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Commonwealth-Club-Podcast-Tile-360x360-1.jpg",
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"meta": {
"site": "news",
"source": "Commonwealth Club of California"
},
"link": "/radio/program/commonwealth-club",
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"apple": "https://itunes.apple.com/us/podcast/commonwealth-club-of-california-podcast/id976334034?mt=2",
"google": "https://podcasts.google.com/feed/aHR0cDovL3d3dy5jb21tb253ZWFsdGhjbHViLm9yZy9hdWRpby9wb2RjYXN0L3dlZWtseS54bWw",
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"id": "forum",
"title": "Forum",
"tagline": "The conversation starts here",
"info": "KQED’s live call-in program discussing local, state, national and international issues, as well as in-depth interviews.",
"airtime": "MON-FRI 9am-11am, 10pm-11pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Forum-Podcast-Tile-703x703-1.jpg",
"imageAlt": "KQED Forum with Mina Kim and Alexis Madrigal",
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"meta": {
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"source": "kqed",
"order": 9
},
"link": "/forum",
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM5NTU3MzgxNjMz",
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"freakonomics-radio": {
"id": "freakonomics-radio",
"title": "Freakonomics Radio",
"info": "Freakonomics Radio is a one-hour award-winning podcast and public-radio project hosted by Stephen Dubner, with co-author Steve Levitt as a regular guest. It is produced in partnership with WNYC.",
"imageSrc": "https://ww2.kqed.org/news/wp-content/uploads/sites/10/2018/05/freakonomicsRadio.png",
"officialWebsiteLink": "http://freakonomics.com/",
"airtime": "SUN 1am-2am, SAT 3pm-4pm",
"meta": {
"site": "radio",
"source": "WNYC"
},
"link": "/radio/program/freakonomics-radio",
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"apple": "https://itunes.apple.com/us/podcast/freakonomics-radio/id354668519",
"tuneIn": "https://tunein.com/podcasts/WNYC-Podcasts/Freakonomics-Radio-p272293/",
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},
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"id": "fresh-air",
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"info": "Hosted by Terry Gross, \u003cem>Fresh Air from WHYY\u003c/em> is the Peabody Award-winning weekday magazine of contemporary arts and issues. One of public radio's most popular programs, Fresh Air features intimate conversations with today's biggest luminaries.",
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"link": "/radio/program/fresh-air",
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"apple": "https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?s=143441&mt=2&id=214089682&at=11l79Y&ct=nprdirectory",
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"info": "A live production of NPR and WBUR Boston, in collaboration with stations across the country, Here & Now reflects the fluid world of news as it's happening in the middle of the day, with timely, in-depth news, interviews and conversation. Hosted by Robin Young, Jeremy Hobson and Tonya Mosley.",
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"hidden-brain": {
"id": "hidden-brain",
"title": "Hidden Brain",
"info": "Shankar Vedantam uses science and storytelling to reveal the unconscious patterns that drive human behavior, shape our choices and direct our relationships.",
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"airtime": "SUN 7pm-8pm",
"meta": {
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"source": "NPR"
},
"link": "/radio/program/hidden-brain",
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},
"how-i-built-this": {
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"title": "How I Built This with Guy Raz",
"info": "Guy Raz dives into the stories behind some of the world's best known companies. How I Built This weaves a narrative journey about innovators, entrepreneurs and idealists—and the movements they built.",
"imageSrc": "https://ww2.kqed.org/news/wp-content/uploads/sites/10/2018/05/howIBuiltThis.png",
"officialWebsiteLink": "https://www.npr.org/podcasts/510313/how-i-built-this",
"airtime": "SUN 7:30pm-8pm",
"meta": {
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"source": "npr"
},
"link": "/radio/program/how-i-built-this",
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"apple": "https://itunes.apple.com/us/podcast/how-i-built-this-with-guy-raz/id1150510297?mt=2",
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},
"hyphenacion": {
"id": "hyphenacion",
"title": "Hyphenación",
"tagline": "Where conversation and cultura meet",
"info": "What kind of no sabo word is Hyphenación? For us, it’s about living within a hyphenation. Like being a third-gen Mexican-American from the Texas border now living that Bay Area Chicano life. Like Xorje! Each week we bring together a couple of hyphenated Latinos to talk all about personal life choices: family, careers, relationships, belonging … everything is on the table. ",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2025/03/Hyphenacion_FinalAssets_PodcastTile.png",
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"officialWebsiteLink": "/podcasts/hyphenacion",
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"order": 15
},
"link": "/podcasts/hyphenacion",
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},
"jerrybrown": {
"id": "jerrybrown",
"title": "The Political Mind of Jerry Brown",
"tagline": "Lessons from a lifetime in politics",
"info": "The Political Mind of Jerry Brown brings listeners the wisdom of the former Governor, Mayor, and presidential candidate. Scott Shafer interviewed Brown for more than 40 hours, covering the former governor's life and half-century in the political game – and Brown has some lessons he'd like to share. ",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/The-Political-Mind-of-Jerry-Brown-Podcast-Tile-703x703-1.jpg",
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"officialWebsiteLink": "/podcasts/jerrybrown",
"meta": {
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"order": 18
},
"link": "/podcasts/jerrybrown",
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}
},
"latino-usa": {
"id": "latino-usa",
"title": "Latino USA",
"airtime": "MON 1am-2am, SUN 6pm-7pm",
"info": "Latino USA, the radio journal of news and culture, is the only national, English-language radio program produced from a Latino perspective.",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/04/latinoUsa.jpg",
"officialWebsiteLink": "http://latinousa.org/",
"meta": {
"site": "news",
"source": "npr"
},
"link": "/radio/program/latino-usa",
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"apple": "https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?s=143441&mt=2&id=79681317&at=11l79Y&ct=nprdirectory",
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"rss": "https://feeds.npr.org/510016/podcast.xml"
}
},
"marketplace": {
"id": "marketplace",
"title": "Marketplace",
"info": "Our flagship program, helmed by Kai Ryssdal, examines what the day in money delivered, through stories, conversations, newsworthy numbers and more. Updated Monday through Friday at about 3:30 p.m. PT.",
"airtime": "MON-FRI 4pm-4:30pm, MON-WED 6:30pm-7pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Marketplace-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.marketplace.org/",
"meta": {
"site": "news",
"source": "American Public Media"
},
"link": "/radio/program/marketplace",
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"rss": "https://feeds.publicradio.org/public_feeds/marketplace-pm/rss/rss"
}
},
"masters-of-scale": {
"id": "masters-of-scale",
"title": "Masters of Scale",
"info": "Masters of Scale is an original podcast in which LinkedIn co-founder and Greylock Partner Reid Hoffman sets out to describe and prove theories that explain how great entrepreneurs take their companies from zero to a gazillion in ingenious fashion.",
"airtime": "Every other Wednesday June 12 through October 16 at 8pm (repeats Thursdays at 2am)",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Masters-of-Scale-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://mastersofscale.com/",
"meta": {
"site": "radio",
"source": "WaitWhat"
},
"link": "/radio/program/masters-of-scale",
"subscribe": {
"apple": "http://mastersofscale.app.link/",
"rss": "https://rss.art19.com/masters-of-scale"
}
},
"mindshift": {
"id": "mindshift",
"title": "MindShift",
"tagline": "A podcast about the future of learning and how we raise our kids",
"info": "The MindShift podcast explores the innovations in education that are shaping how kids learn. Hosts Ki Sung and Katrina Schwartz introduce listeners to educators, researchers, parents and students who are developing effective ways to improve how kids learn. We cover topics like how fed-up administrators are developing surprising tactics to deal with classroom disruptions; how listening to podcasts are helping kids develop reading skills; the consequences of overparenting; and why interdisciplinary learning can engage students on all ends of the traditional achievement spectrum. This podcast is part of the MindShift education site, a division of KQED News. KQED is an NPR/PBS member station based in San Francisco. You can also visit the MindShift website for episodes and supplemental blog posts or tweet us \u003ca href=\"https://twitter.com/MindShiftKQED\">@MindShiftKQED\u003c/a> or visit us at \u003ca href=\"/mindshift\">MindShift.KQED.org\u003c/a>",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Mindshift-Podcast-Tile-703x703-1.jpg",
"imageAlt": "KQED MindShift: How We Will Learn",
"officialWebsiteLink": "/mindshift/",
"meta": {
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"source": "kqed",
"order": 12
},
"link": "/podcasts/mindshift",
"subscribe": {
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM1NzY0NjAwNDI5",
"npr": "https://www.npr.org/podcasts/464615685/mind-shift-podcast",
"stitcher": "https://www.stitcher.com/podcast/kqed/stories-teachers-share",
"spotify": "https://open.spotify.com/show/0MxSpNYZKNprFLCl7eEtyx"
}
},
"morning-edition": {
"id": "morning-edition",
"title": "Morning Edition",
"info": "\u003cem>Morning Edition\u003c/em> takes listeners around the country and the world with multi-faceted stories and commentaries every weekday. Hosts Steve Inskeep, David Greene and Rachel Martin bring you the latest breaking news and features to prepare you for the day.",
"airtime": "MON-FRI 3am-9am",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Morning-Edition-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.npr.org/programs/morning-edition/",
"meta": {
"site": "news",
"source": "npr"
},
"link": "/radio/program/morning-edition"
},
"onourwatch": {
"id": "onourwatch",
"title": "On Our Watch",
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