On Friday, I published a column in these pages about my trials and tribulations surrounding repeated suspensions from Facebook.
It took two months of experiencing intermittent bans from the social network–due to ostensibly “inappropriate material” on my page–before I finally took any measures to extricate myself from the situation.
Each time Read More
For the past two months, I have intermittently been barred from Facebook.
The first time it happened was in June, when I tried to post my Israel Hayom column. Suddenly, a window popped up, telling me that inappropriate material had been found on, and removed from, my page. I was warned that if Read More
IPO Oh No
Apparently, a year later, we’re still not done with the fallout from the Facebook IPO. The Manhattan District Attorney has just indicted Ronen Zakai, a former stockbroker, for an alleged scheme to defraud his pals with promises of Facebook shares.
He’s accused of soliciting $705,000 for something called the “Social Innovation Fund,” promising to use the money to buy Facebook stock and then… not. Instead, the D.A. says, he allegedly used the money “on various expenses – including country club membership fees, car payments, traveling, and shopping trips – and through large cash withdrawals.”
A simple but effective sticker campaign that replaces the “C” in Citi Bike with an “Sh” to spell… well, you know, has over taken New York’s bike share.
And believe it or not, Dorothy Rabinowitz isn’t behind it. The crusade appears to be the work of advocates who are not fond of the “corporate appropriation of bike Read More
Land of the Lost
Ethan Cyr has a dream. That dream is to build a 13-foot T-Rex with Christopher Walken’s head on it. And thanks to the Internet, his dream is going to come true.
Yesterday, Humans of New York received an email from the most awesome child in the world and posted it on Facebook.
It read: “I am a sixteen year old from the lower east side of Manhattan. I am building a 13 foot T Rex with Christopher Walkens head and I was wondering if you would be willing to help
the shares that weren't there
Remember when everyone wanted Facebook stock? When getting pre-IPO shares was a point of pride, when retail investors worried they weren’t big enough fish to rate allotments from their brokerages? That friends, was an opportunity, and there are some men who answer when opportunity knocks.
John Mattera, for instance, the Floridian charged last year with scheming to bilk investors for $12.6 million by promising them the chance to own pre-IPO shares of companies inlcuding Facebook and Groupon, was such a man. At the time of his ill deeds, Mr. Mattera was the chairman of the advisory board of something called Praetorian Global Fund, which offered investors the chance to buy into something called the “G Power Entities,” supposed special purpose vehicles which purported to own stock in the pre-IPO firms.
Law & Order
New York Post reporter Doug Auer allegedly became the target of police ire after he wrote a scandalous story about an illicit Labor Day BBQ on the roof of police headquarters. Apparently, nothing is as sacred to New York’s Finest as roasted meat, fire code be damned.
According to Mr. Auer, current and retired cops responded on an unofficial NYPD message board with jeers, threats and personal details (including the reporter’s home address and personal photos from his Facebook page), Gothamist reported at the time.
Mr. Auer, who said he took down his Facebook page in response, is back–and now he’s commenting on his private Facebook page. He’s also threatening “atomic wedgies” to those who come after him.
So the buck stops … here? After technical glitches at Nasdaq on the day of Facebook’s initial public offering cost market makers millions of dollars, a pattern emerged. Nasdaq would offer to make good on some part of the losses, the market makers would grumble that said offer was unsatisfactory, and Nasdaq would come back with something a little bit better.
Morgan Stanley and Citigroup agreed to value Morgan Stanley Smith Barney at $13.5 billion, more than the outside bankers hired to mediate the deal said the joint venture brokerage was worth. According to Bloomberg, Perella Weinberg Partners priced the brokerage at the lower end of the difference between valuations submitted by Morgan Stanley and Citi, which would have resulted in a final price of less than $11.5 billion. The banks agreed on the higher value, however, fixing the price at which Morgan Stanley will acquire Citi’s stake in the partnership.
European Central Bank President Mario Draghi won wide support from his board for a plan to buy the sovereign debt of euro zone countries. Rates on Spanish 10-year bonds promptly fell to levels last seen in May, and the corresponding Italian bond fell to its lowest since April.
LightSquared, the wireless broadband company backed by Harbinger Capital founder Phil Falcone, is battling with creditors over control of the firm’s bankruptcy, according to Bloomberg. LightSquared has asked a judge to extend a deadline to file a Chapter 11 plan; the creditors say, “Having nothing to lose, Mr. Falcone wants to pursue a high-risk, high-return strategy.”