Techmeme: Facebook Flop Puts Investment Banker on the Spot (Wall Street Journal)

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May 27, 2012, 11:45 AM

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Wall Street Journal:

Facebook Flop Puts Investment Banker on the Spot — Morgan Stanley's Michael Grimes Draws Some Flak for Facebook's IPO Flop — Facebook Inc.'s botched initial public offering left Morgan Stanley investment banker Michael Grimes in an unusual spot: on the defensive.

Reuters:

Minute by minute, Nasdaq chaos engulfed Facebook IPO — Dead silence. For nearly 20 minutes on the morning of Facebook Inc's trading debut last Friday, the line Nasdaq had opened up to keep traders informed about the social media company's $16 billion IPO had been mute.

More: Bloomberg, Business Insider, The Tech Trade and BuzzMachine. Tweets: @eghosao. See also Mediagazer

Erin Geiger Smith / Reuters:

Facebook IPO is flashback to dot-com class action — This is not the first time investors in a hot tech company's initial public offering have alleged that underwriters favored their regular clients at the expense of the little guys. — In the tech bubble of the late 1990s …

More: WFTS, PR Newswire, Business Wire, Business Wire and Business Wire

Gregg Keizer / Computerworld:

Aged Windows XP costs 5x more to manage than Windows 7 — As XP's life wanes, Microsoft talks dollars to get businesses to ditch 11-year-old OS — Microsoft yesterday added ammunition to its increasingly aggressive battle to get users off the nearly-11-year-old Windows XP by citing …

More: PC Magazine, VentureBeat, Redmond Pie and The Verge

Iain Marlow / Globe and Mail:

RIM prepares for radical measures with global restructuring — Patrick Spence, who quit this week as Research In Motion Ltd.'s global sales chief, was not the first senior executive to leave the struggling BlackBerry maker this spring and he will not be the last, as the company prepares for thousands of additional layoffs.

More: Engadget, Reuters, TechnoBuffalo, CNET, DailyTech, Pulse2 Technology …, MobileSyrup.com, The Verge and Business Insider

Matthew Panzarino / The Next Web:

Watch this rare video from inside the Foxconn facility where 70% of iPhones are made — You don't get a look inside Apple's factories in China all that often. Apple is notoriously secretive about their processes and products. That's why the video below is so fascinating …

More: M.I.C. Gadget, WebProNews, Examiner, TUAW, iMore, TechnoBuffalo, AppleInsider, App Advice, The Verge, VR-Zone, iClarified, IntoMobile and MacDailyNews. Tweets: @asymco

Jay Yarow / Business Insider:

Facebook Is Building The Facebook Phone Right In Front Of Our Eyes — One of the many points of intrigue around Facebook's future centers on the mobile phone market. — It has been reportedly working on a mobile operating system for its own phone since 2010.

Tweets: @andrewchen and @andrewchen

Zack Whittaker / ZDNet:

UK ‘cookie law’ takes effect: What you need to know — Let's be honest: The U.K. has made a right hash-up of implementing the cookie law from start to finish. It came into force on May 26. Here's everything you need to know.

More: NevilleHobson.com and Guardian. Thanks:@zackwhittaker

Kellex / Droid Life:

Motorola Demos Ice Cream Sandwich for the DROID RAZR in Official Video Series, Watch Them All Here — We know that Ice Cream Sandwich for the DROID RAZR will be here some time before the end of June (Q2) thanks to an updated timeline released by Motorola within the last week.

More: Engadget, The Verge, Phones Review and TechnoBuffalo

Ingrid Lunden / TechCrunch:

Digital Chocolate Downsizing? Founder Trip Hawkins Out As CEO; Reports Of Layoffs, Marc Metis As Interim CEO — Some significant changes afoot at social and mobile games company Digital Chocolate: founder Trip Hawkins has stepped down as the CEO of the company.

More: Digital Chocolate

New York Times:

Facebook's Royal Wedding — THE wedding of Mark Zuckerberg to Priscilla Chan last weekend here in the backyard of their $7 million home had all the staging of a carefully orchestrated celebrity event. A publicist for Facebook eagerly offered photos afterward of the beaming couple …

More: Gizmodo and Business Insider

Ernesto / TorrentFreak:

BitTorrent Traffic Booms Due to “Licensing Challenges” — Over the years we have been following various reports on Internet traffic changes, specifically in relation to BitTorrent. One of the emerging trends is BitTorrent and P2P traffic as a whole losing its share of total Internet traffic, in the U.S. at least.

More: ITProPortal and Slashdot

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