Archive for May 19th, 2011

The LinkedIn IPO: Shrewd Investing, or Just Crazy?

| May 19, 2011

It is Wall Street’s job to throw money at new companies, a Wall Street economist explained to me during the dotcom boom of a decade ago, when the valuations of IPOs were being questioned. We can report today that the Street, despite the dotcom bust and the real estate bust and the financial meltdown, has not only retained its moneychucking prowess but amped it, if LinkedIn is any measure. The social network for the professional set had already marked up its IPO to $45, the top end of the range, before it opened for trading today.

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Jake Gyllenhaal sues over underwear photo (Reuters)

| May 19, 2011

LOS ANGELES (Hollywood Reporter) – Jake Gyllenhaal’s lawyers are scouring the Internet, attempting to eradicate a picture of the actor that shows him stretching in his tighty-whitey underwear. The letter was sent to a few websites, including Queerty.com and Buzzfeed.com. Gyllenhaal’s lawyers claim that “as anybody could tell from a cursory examination, this is a fake picture, in which our client’s head has been pasted on the body of another person.” Gyllenhaal’s pose in the photo is said to resemble an album cover pose of singer Grace Jones.

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Why People Buy Stock in Bankrupt Companies

| May 19, 2011

Illustration by Graham Roumieu By Tiffany Kary Blockbuster’s stock must be worth something, says Ron Krenn, a 48-year-old day trader in Daytona Beach, Fla., who hopes to profit on the equity of what was once the world’s largest movie rental chain, seven months after it filed for Chapter 11. He’s not alone. Since Sept.

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This auto-inspired desk costs more than your car (Yahoo! News)

| May 19, 2011

If you’re in the market for a new computer desk, but want to skip the standard fare at stores like Staples and Office Depot, perhaps you’d be interested in this limited-edition superdesk inspired by carmaker Bugatti — the French auto brand responsible for the Veyron, a $1.4 million street-legal race car. The opulent desk is built by luxury furniture brand Luzzo, and carries a slightly more affordable (but still ridiculously huge) $240,000 price tag.

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Netflix tops Android Apps of the Week (Appolicious)

| May 19, 2011

Every so often, Android’s Market is graced with a premier app once reserved for iPhone users.

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"Zombie Apocalypse" campaign crashes website (Reuters)

| May 19, 2011

WASHINGTON (Reuters) – A blog post by the U.S.

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Google Intends to Resist Anti-Piracy Law Efforts (PC World)

| May 19, 2011

Google is standing its ground when it comes to enforcing–or rather, not enforcing–an anti-piracy law that would require ISPs to terminate the Internet connections of copyright infringers. The controversial law has been met with resistance from opponents claiming it limits free speech

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Apple Marks 10 Years of Retail Store Success (NewsFactor)

| May 19, 2011

Ten years ago, Apple CEO Steve Jobs offered a “private” video tour of Apple’s inaugural retail store at a mall in Tysons, Corner, Va. The proud proprietor showed off areas dedicated to home and professional users and invited customers to come and see the company’s latest products and “see what it’s like to have wireless connection to the Internet,” which was a big deal at the time. In the video, discovered on YouTube by The Washington Post, Jobs also shows off the software gallery; shelf space for non-Apple products, including Sony camcorders and Palm Pilots; and stands behind the very first genius bar, with the disclaimer, “I’m not a genius.” Today, plenty of business analysts and Apple shareholders may disagree, as Apple now has 300 retail stores around the country, a key component in the blockbuster sales engine that has made Cupertino, Calif.-based Apple the eighth most profitable company in the U.S

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Summary Box: Stocks follow LinkedIn IPO higher (AP)

| May 19, 2011

LINKEDIN POPS: Social networking company LinkedIn more than doubled in its first day of trading, ending the day at $94.25. It was the biggest IPO for an Internet company since Google debuted in 2004. OIL SLUMPS: Oil prices fell back below $100 a barrel after an international agency said that refineries needed to increase production to lower gasoline prices

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Playboy putting entire 57-year archive online (AFP)

| May 19, 2011

WASHINGTON (AFP) – Playboy is going to reveal everything online. The venerable men’s magazine founded by Hugh Hefner announced Thursday it was making every issue available — all 57 years — through i.Playboy.com, a Web-based subscription service

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