Budgets, wealth, taxes, and poverty
When Facebook filed for an Initial Public Offering (IPO) in February, Mark Zuckerberg wrote a public letter outlining Facebook’s mission: to bring the world closer together. With the additional investment money that an IPO would bring, he explained, Facebook would have the resources to better reach that goal.
Or, to put it another way, when Facebook goes public, it stands to make a whole lot of money. IPO’s can be a good way for companies
to have access to a lot of funding fast, Continue reading
Since 2004, when Mark Zuckerberg launched the first version of Facebook from his college dorm room, the company has been privately-owned. That means that only a handful of people – Zuckerberg, a bunch of his early co-workers, and a few private investment firms – owned shares (parts) in the company. This February, though, Facebook announced it was going “public,” which opens the door for outside investors to start thinking about buying into it. Continue reading
To point out the absurdities of Super PACs, the comedian Stephen Colbert jumped in the fray, and formed his own. Initially called the Citizens for a Better Tomorrow (he’s been switching the name around) it’s kind of a joke but also technically legitimate, with over a million dollars collected in donations already! In promoting it, Colbert emphasizes the very loose rules. Take a look:
In 1950, California had four state prison facilities and about 11,500 prisoners. By 2006, at the peak of the state’s prison overcrowding, there were 33 prisons and more than 172,000 inmates! That’s an increase of more than 900 percent!
Since 1950: California’s Prison Building Boom
Click on a county below to see median home prices and racial/ethnic demographic information.
Putting a roof over your head in the Golden State doesn’t come cheap. Even with the second-highest unemployment rate in the country (after Nevada) and one of the highest rates of home foreclosures, California still remains among the most expensive states in the country to live in. The median home value here is 1.8 times the national average.
and the HUD-defined fair-market rate for a modest two-bedroom unit plus utilities is about $1,360 (compared to $960 nationally). The state has six of the top 10 most expensive home-buying markets in the country and five of the top 10 rental markets. Continue reading