Facebook reveals revenue, profit slide ahead of IPO

SAN FRANCISCO (Reuters) - Facebook Inc reported its first quarter-to-quarter revenue slide in at least two years, a sign that the social network's sizzling growth may be cooling as it prepares to go public in the biggest ever Internet IPO.

The company blamed the first-quarter decline, which surprised some on Wall Street, on seasonal advertising trends.

"It was a faster slowdown than we would have guessed," said Brian Wieser, an analyst with Pivotal Research Group.

"No matter how you slice it, for a company that is perceived as growing so rapidly, to slow so much on whatever basis - sequentially or annually - it will be somewhat concerning to investors if faced with a lofty valuation," Wieser said.

Facebook is preparing to raise at least $5 billion in an initial public offering that could value the world's largest social network at up to $100 billion.

"The biggest issue is the realization that Facebook is not going to have an easy time meeting high expectations of the public market," said Jeff Sica, chief investment officer of SICA Wealth Management, which manages more than $1 billion in client assets, real estate and private equity holdings. "It will affect how people look at the IPO."

Investors are still likely to sign up in droves for the IPO; however, growth concerns may make some investors less likely to keep the stock over the long term, he added. CONTINUE . . . . .

'Hookergate' Streses Sex Worker Plight

Secret Service Scandal Moves Advocates to Call for Legal US Prostitution

If prostitution hadn't been legal in Colombia, the United States would most likely be focusing on Brad and Angelina's wedding rather than the antics of President Obama's security detail.

Never mind the use of taxpayer dollars, the potential threat to national security, the embarrassment brought to the U.S. government. In one regard, at least, "Hookergate" was a good thing, at least to sex workers in the United States: It called attention to the plight of sex workers here, where prostitutions is illegal and practitioners have no rights.

"If it had happened here, the woman couldn't have gone to the police and said, 'These guys are trying to cheat me out of money.' Instead, she would have been hurt and cheated, and Mr. Agent Man would have gone home and patted himself on the back for having gotten one over on her," said Maggie McNeill, a former New Orleans call girl and the founder of The Honest Courtesan.  CONTINUE . . . . .

“Gold Profit Formula” Easy Making Money from Gold

Making money from gold is guaranteed to make a success story out of any experience level with "Gold Profit Formula" from Absolute Wealth.

Making money from gold isn’t what it used to be, when slick-haired greasers opened their trench coats revealing necklaces, earrings, and watches to nervous customers in back alleys. 

Today’s AbsoluteWealth.com article said that things have become much more sophisticated, regulated, and practical. So much so, that getting into the gold buying and selling business has turned into an extremely profitable experience.

Now that gold has reached such high prices, dealers are selling what they bought for double the price, and their customers are so satisfied they’re continuously coming back for more. CONTINUE. . . . .

Ex-World Bank managers back Nigerian

Okonjo-Iweala would bring the combination of her experience as finance and foreign minister of a large and complex African country with her wide experience of working at all levels of the Bank's hierarchy in different parts of the world.

A group of former World Bank officials on Wednesday endorsed Africa's candidate to lead the Bank, Nigerian Finance Minister Ngozi Okonjo-Iweala.

 In an open letter, 39 former managers and economists called on the Bank's executive board to make their decision on merit, when the board for the first time considers more than one candidate for the job.
Tunisia's central bank chief, Mustapha Nabli, a former head of the Bank's Middle East and North Africa region, also signed. His country has not endorsed a candidate.
Okonjo-Iweala "would bring the combination of her experience as finance and foreign minister of a large and complex African country with her wide experience of working at all levels of the Bank's hierarchy in different parts of the world, from agricultural economist to managing director."
While the other two candidates also have strong qualifications, "she would be the outstanding World Bank president the times call for."

The World Bank plans to select the successor to outgoing president Robert Zoellick by April 20, the start of its spring meetings with the IMF.
"We believe that Mrs. Okonjo-Iweala has outstanding qualifications across the full range of relevant criteria," they said.
Okonjo-Iweala, a former World Bank managing director, and Jose Antonio Ocampo, a former finance minister of Colombia, are competing with the US nominee Jim Yong Kim, a public health expert and president of Dartmouth College.
Under a tacit agreement, the US picks the World Bank president, always an American, and Europe puts a European at the helm of the International Monetary Fund, the Bank's sister institution.
Writing in their personal capacity ahead of the candidate interviews next week, the ex-Bank officials said "we care too much for the institution and for its historic development mission not to speak up."