Memorial Day

We hope you had a great Memorial Day holiday!

Here are a few great articles that hold the true meaning of the holiday, the sacrifices our war veterans made for this land.

Memorial Day Commemoration 2008

Memorial Day Commemoration 2008 (Photo credit: davidyuweb)

Facebook Has Lost About $35 Billion In Value Since IPO As Shares Dip Below $29

TechCrunch

Pain, pain, and more pain for Facebook’s stock. Facebook sunk into the $20s for the first time today, declining about 9 percent as options trading started. The decline also came a day after a third wave of reports came out about a Facebook phone, which would push the company into the risky and expensive world of building hardware.

Shares hit a new low of $28.65 and have closed nearly 10 percent lower at $28.84. After-hours trading has the company down another 0.5 percent to $28.69. That gives the company a market capitalization of $79.02 billion, down from $115 billion market cap Facebook opened at on the day of its IPO when it started trading at $42.05 a share.** (That said, if you’re a glass-is-half-full kind of person, Facebook is now cheap, cheap, cheap!)

The key factor affecting share prices might be options trading. Bloomberg said that puts are…

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progressivenetwork

By Chris Hellman and Mattea Kramer, Information Clearing House, 5/22/12

May 22, 2012 “Information Clearing House” — Recent months have seen a flurry of headlines about cuts (often called “threats”) to the U.S. defense budget. Last week, lawmakers in the House of Representatives even passed a bill that was meant to spare national security spending from future cuts by reducing school-lunch funding and other social programs.

Here, then, is a simple question that, for some curious reason, no one bothers to ask, no less answer: How much are we spending on national security these days? With major wars winding down, has Washington already cut such spending so close to the bone that further reductions would be perilous to our safety?

In fact, with projected cuts added in, the national security budget in fiscal 2013 will be nearly $1 trillion — a staggering enough sum that it’s worth taking a…

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PolitoMuse

This proposition seeks to raise the taxes on cigarette sales from $1.88 ($1 of which goes to the federal government) to $2.88 per pack of cigarette (and automatic corresponding raises in tax on other tobacco products).  The money is earmarked for cancer and tobacco-related disease research and prevention programs, law enforcement, and the creation of an administrative bureaucracy to oversee distributions.  Overall, Politomuse feels this initiative presents a solution searching for a problem and for that reason we urge a no vote.

It is hard to argue in favor of cigarette smokers and even more distasteful to find oneself siding with “big tobacco.”  Unfortunately, we feel that is what the proponents of this initiative are counting on.   This measure raises funds to be funneled into a newly created government entity called the California Cancer Research Life Sciences Innovation Trust Fund (CCRLS).  The CCRLS then has five subsidiary funds (see voter…

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Companies living shorter

Thinkski

From a BBC News story earlier this year:

The average lifespan of a company listed in the S&P 500 index of leading US companies has decreased by more than 50 years in the last century, from 67 years in the 1920s to just 15 years today, according to Professor Richard Foster from Yale University.

This is a problem for shareholders. When an investor buys a share of stock in a company, there are three ways to make money from it — from dividends, from share buy backs, or by selling it to another investor for a higher price. Of the three, only profits from the first two come from the company, and only dividends are sustainable — once a company buys back its shares, you’re not making any more money off them.

Now back in the 1920s when the average lifespan of an S&P 500 company was 67 years, the…

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What am I paying for in the price of a gallon of gasoline?

b5blue's Liberal Reformation Blog

It all adds up.

High octane part:

So how much does the government make on a gallon of gas?

In this example, retailers collected state and federal gasoline taxes of 39 cents per gallon on average. Total gas taxes per gallon range by state – from lows of less than 30 cents per gallon to highs of more than 60 cents per gallon in places like New York and California.

Those evil oil companies.  How dare they collect a small fraction of what the government takes.  Clearly, they must be punished.

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