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- Israel poised for a $173M boost from the U.S. for missile defense
- Leon Panetta named as source of ‘Zero Dark Thirty’ scriptwriter’s information
- Mandela service sign language interpreter: ‘He made up his own signs’
- Pope Francis named Time’s ‘Person of the Year’
- Ben Affleck: Fundraising for Democrats started to ‘feel gross’
- Vladimir Putin orders military to boost presence in Arctic
- Brooklyn, N.Y.: ‘Lesbian capital’ of the Northeast
- Elian Gonzalez: It’s America’s fault that my mother died
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Zuckerberg appears for 1st post-IPO chat
_How will the company attract and keep its most talented employees with its stock price falling?
_Does Zuckerberg have what it takes to be the CEO of a public company?
_Since Facebook won’t be able to buy every new Instagram that comes along, how will it stay ahead of younger competitors?
Going forward, “Facebook must find the right balance of information sharing that will enable it to deliver favorable ad targeting, but not antagonize users or legislators who desire greater levels of privacy,” said Morgan Stanley analyst Scot Devitt in a recent note to investors.
Arrington likes to ask CEOs to define their company. In May 2010, he asked then-Yahoo CEO Carol Bartz, “What is Yahoo?” Bartz, it turns out, could not give a satisfactory answer. She was fired from Yahoo a year later for failing to revive the ailing company.
Zuckerberg is in no danger of being fired. After all, he controls more than half of the voting stock in Facebook and has a loyal employee base at the company. But there have been calls on Wall Street to replace him with someone more experienced, including Chief Operating Officer Sheryl Sandberg.
Zuckerberg, 28, spoke during Facebook’s first earnings conference call as a public company, but has been largely out of the spotlight since. In a recent regulatory filing, Facebook said Zuckerberg does not plan to sell any shares in the company for at least the next 12 months. That proved to be a point of relief for investors who are worried about post-IPO “lock-up” expirations that allow early investors and insiders to sell their shares. It’s a sign that Zuckerberg has faith in Facebook’s long-term future. The question now is, whether that’s enough?
Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history. The IPO priced at $38, at the top of a projected range that Facebook had already boosted just days earlier. The stock had fallen sharply in the weeks following the IPO. On Tuesday, ahead of Zuckerberg’s appearance, the stock climbed 57 cents, or 3 percent, to $19.38 _ just a tad over half the IPO price.
By Donald Lambro
Growth spikes are little more than trend-free anomalies
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