CALIFORNIA

GM Ditches Facebook Ads Ahead of IPO, Rest of Auto Industry Stands By

Facebook
General Motors Company (NYSE: GM) rocked the automotive and advertising worlds with its announcement Tuesday that it will stop buying advertisements on Facebook Inc. (Nasdaq: FB), a value of roughly $10 million a year, on the eve of social networking site's monster IPO. The rest of the automotive industry's major players are not following suit, though, Ford Motor Company (NYSE: F), banking on the strength of the network effect, is actually upping its investment.

Facebook IPO: Why Did Underwriters Boost Its Value?

It’s Facebook’s Turn to Take Legal Actions against Yahoo
A day before Facebook (Nasdaq: FB), the No. 1 social network holds its initial public offering, its 33 underwriters boosted the number of shares for sale by 25 percent, potentially valuing the deal as high as $19 billion.
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rock the bells

Rock The Bells 2012 Lineup, Dates And Venues Announced [FULL LIST]

Boost Mobile and Guerilla Union have announced the full lineup, list of dates and venues that will welcome the Rock the Bells 2012 Festival, featuring the likes of hip-hop artists like Kid Cudi, J Cole, Wiz Khalifa and Atmosphere, who will headline the festival.
Marijuana

Marijuana May Ease Multiple Sclerosis Symptoms [STUDY]

People with multiple sclerosis have long said that smoking marijuana helps ease their painful muscle cramping. And a new clinical trial suggests they are not just blowing smoke. The study, published Monday, found that for 30 MS patients with muscle spasticity, a few days of marijuana smoking brought some relief.
Daniel S. Loeb, pirncipal, Third Point Capital

Memo To Loeb: You Broke Yahoo -- 5 Ideas to Fix It

Congratulations, the good guys finally won. You and your team, with help from other institutions, have ousted CEO Scott Thompson, elected three Third Point nominees to the board, removed another handful of management nominees and effectively control the company. Now what?
Pink Slime

'Pink Slime': Beleaguered Beef Purveyors Carve Out Stain

Behind the glass meat counter at Casey's Market in a Chicago suburb, the butchers pick up their blades and carry on a generations-old tradition. Piece by piece, the men use knives to cut meat and fat off beef carcasses, and grind them into mounds of hamburger.
California Governor Jerry Brown introduces his state budget proposal at the State Capitol in Sacramento January 5, 2012.

California Budget Gap Widens To $16B From $9B [TRANSCRIPT, VIDEO]

The estimate of California's budget deficit in its next fiscal year has ballooned to $16 billion from $9 billion, state Gov. Jerry Brown divulged in a YouTube video posted this weekend. Brown said the widening gap was caused by changing conditions on both the revenue and the cost sides of the ledger.
Women in Delhi Protest against rape

Delhi: The Center Of India's Growing Rape Crisis

India's emergence as an economic superpower has been accompanied by a disturbing and unexpected phenomenon: an apparent increase in sexual assaults on women.The actual number of rapes in Delhi -- and India as a whole -- is likely to be dramatically higher than indicated by published statistics.
John Travolta

John Travolta Massage Scandal Gets Weirder: 5 Things To Know About Plaintiff Lawyer Okorie Okorocha

The story around the highly publicized sexual assault lawsuits filed against John Travolta by two masseurs continues to raise eyebrows. Earlier this week two unnamed men filed lawsuits against the actor claiming that he sexually assaulted them during a massage. Yet TMZ released proofthat the actor has was in New York on January 16th when the first incident allegedly took place in Beverly Hills.

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