Michael Ramirez by Michael Ramirez

Michael Ramirez

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  1. jack75287

    jack75287 said, over 2 years ago

    Ok correct me if I am wrong but wouldn’t a company with as much hype as facebook be overvalued during an IPO.

  2. hanmari

    hanmari said, over 2 years ago

    The problem was that all the evaluators downgraded their estimates right before the IPO, and not everyone was aware of the downgrade. All the big investors got wind of the downgrade at the last minute and put cancellations on their pre-orders. That caused Nasdaq’s systems to overload the morning of the IPO. People who didn’t know about the downgrade bought at the high price while all the cancellations caused the price to immediately drop.

  3. dtroutma

    dtroutma GoComics PRO Member said, over 2 years ago

    Dot Com (con?)

  4. hanmari

    hanmari said, over 2 years ago

    Here in California, Governor Jerry Brown is counting on taxing all that IPO cash in order to balance next year’s budget—especially since he borrowed 15 Billion from the Feds this last year and still managed to fall 16 Billion dollars short of breaking even.

  5. mikefive

    mikefive said, over 2 years ago

    @Eryx

    The Governator was part of the problem. That does not excuse Brown from making the problem worse.

  6. cwsprague

    cwsprague said, over 2 years ago

    @Eryx

    Does CA’s governor have absolute total control of the budget and spending for CA? Or did he have help? Not that he was much of a conservative to begin with….

  7. INGSOC

    INGSOC GoComics PRO Member said, over 2 years ago

    P F - Passing Fad

  8. petergrt

    petergrt said, over 2 years ago

    @mikefive

    Well, the Governator did try to reign in the biggest expanses of the state during his first term. He first tried it through the legislative process, and when that failed, because it was and is dominated by some of the most left-wing morons in the country, he went to the people with four or so propositions. The Democratic party, with its brownshirts and the Hollywood uberintellectuals have beaten him down, really good.
    .
    Then he simply joined the opposition . . . . hence, all the problems.

  9. petergrt

    petergrt said, over 2 years ago

    With respect to the Facebook silliness . . . . . an investor is not guaranteed an instant profit in an IPO. Oftentimes it does work out that way, but often it does not. Witness GM – the government sponsored IPO. It was expected to fetch $27/share, but went for $32. Now, a bit over a year later it is $22, in spite of the fact that they are making a lot of $$ and have some $32.5 billion in cash . . . .

  10. Rick

    Rick said, over 2 years ago

    Thanks Michael R, good point — something we can all agree to.

  11. runar

    runar said, over 2 years ago

    I now know why I saw a pig fly past my window, every day next month on my calendar is marked “SUN”, my cow wandered back and there’s ice in my sub-sub-sub basement indicating a certain place has frozen over. Michael Ramirez did an editorial cartoon in which he doesn’t blame President Obama for anything.

  12. Ph8549

    Ph8549 said, over 2 years ago

    first thing I thought was “where’s Obama’s picture?” after all this is Mike Ramirez. Facebook is overrated. Who wants to hear what a bunch of relatives say?

  13. mikefive

    mikefive said, over 2 years ago

    @Eryx

    Indirectly, he is dismantling the state. Under the Governator companies were moving out of California to more business friendly states. With Brown’s tax thing this will probably continue. It will be a gradual thing, but as equipment is depreciated out and facilities grow old companies will move out thereby reducing the tax base and requiring tax rates to rise to maintain the same level of services. Historically, Michigan and New York City are good examples of how this does not work. Northern Indiana and Ohio benefited greatly from Michigan following this path when huge chunks of Michigan’s industrial base left Michigan.. If you want to see where California will be in a few if it keeps to it’s current path, go visit Detroit.

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