Facebook does 5-for-1 stock split

By Stacy Cowley

NEW YORK (CNNMoney.com) -- Those lucky few with Facebook stock shares now own a whole bunch more.
Facebook said Friday that it is doing a 5-for-1 stock split, marking the third split in the company's history. The privately held social networking company, founded in 2004, previously executed 4-for-1 stock splits in 2006 and 2007.
Facebook's shares won't have a clear market value until the company goes public -- a move that's not imminent. Prominent Silicon Valley investor Peter Thiel, an early Facebook backer, said at a tech conference last week that he doesn't expect the company to IPO until 2012 at the earliest.
Facebook currently has 1,700 employees, many of whom have ownership stakes in the company. Facebook founder Mark Zuckerberg, whose net worth Forbes magazine estimates at $6.9 billion -- most of it not yet liquid -- recently made headlines with his first major philanthropic donation: $100 million for public schools in Newark, N.J.
Until Facebook goes public, the primary outlet for those who wish to sell shares is SecondMarket, an exchange that enables accredited investors to buy shares of privately held ventures. Recent trades there put Facebook's current valuation at around $30 billion. Since SecondMarket launched in April 2009, the company has processed more than $150 million in Facebook stock sales, according to a SecondMarket spokeswoma


 Pre-IPO stock splits are a common move for fast-growing private firms. Google (GOOG, Fortune 500) split its stock several times before going public in 2004 for $85 per share.

Stock splits don't increase a shareholder's equity in a company: A 5-for-1 split replaces one share worth $50 with five shares worth $10. But by increasing the number of shares outstanding and reducing the cost of each, the splits can increase liquidity and make a company's shares easier and cheaper to trade

New Facebook-Goldman info, including WHY Facebook is doing the deal

Posted by Dan Primack

Information is coming fast and furious tonight about Goldman Sachs' (GS) proposed investment in Facebook, which could total up to $2 billion.
Here is where we stand. Some of what follows has been reported elsewhere, but most comes from source who manages money for high-net-worth clients (including Goldman clients who have been solicited to invest in Facebook):
* Goldman originally planned to give its wealthy clients until Friday to subscribe, but now has moved up the deadline until tomorrow due to excess demand. A source familiar with the situation says that Goldman has received more than $3 billion in requests, and that it already has decided to deny those who want to subscribe at the $2 million minimum.
* Goldman is raising up to $1.5 billion from its high-net-worth clients, but may not ultimately be allowed to invest that much in Facebook. The social network retains the right to determine how much it accepts from Goldman. I would assume, but am not certain, that Goldman's direct $450 million investment -- plus $50 million from co-investor Digital Sky Technologies -- is guaranteed.
* Speaking of that direct investment, some of it may be coming from Goldman's prop hedge funds and private equity funds (in addition to its balance sheet). [Update: NY Times reports that Goldman's PE group passed on the opportunity]
* How will Facebook decide how much money to accept from Goldman? This is where it gets very interesting. My understanding is that Facebook is raising this round (in part) to prevent junior and mid-level employees from selling shares on secondary exchanges like SecondMarket (outside of those who already have sold). By doing so, Facebook may hope to remain below the 500-shareholder threshold that would force it to publicly disclose its financial data. In other words, this deal is the exact opposite of a precursor to IPO. (note: I'm still not sure this will work, since the SEC very well may deem Goldman's special purpose vehicle to be the sum of its underlying investors, rather than a single investor).
Facebook plans to launch an employee tender offer to buy back shares, and will use some of the Goldman proceeds to fund it. The more demand from employees, the more it will take from Goldman. Other proceeds will be used for working capital, acquisitions, etc.
* Fees: Goldman not only is charging clients a 4% fee on their initial commitment, but also is charging a 5% fee on any profits upon exit (which cannot be until at least 2013).
* As of this writing -- 6pm ET on Wednesday -- Goldman still has not distributed a private placement memorandum (PPM), which is different than the initial solicitation memo reported on elsewhere. Amazing. It does keep promising it soon, however, adding that it will include some historical revenue data. As for more current data -- such as figures that might justify the $50 billion valuation -- Goldman is telling clients that it has done due diligence via the direct investment. In other words: "Trust us, we're Goldman Sachs."

Facebook likely to go public in 2012

Facebook founder and CEO Mark Zuckerberg has taken great pains to keep his fast-growing company private. By Stacy Cowley,

NEW YORK (CNNMoney) -- Facebook's days as a secretive and private company are numbered: By early 2012, the social networking giant is poised to either hold an initial public offering or begin disclosing its financial results.
Goldman Sachs is in the process of distributing deal information to wealthy clients interested in joining a Facebook investment pool it is creating. In that deal memo, Facebook says that it intends to pass a key 500-shareholder mark this year, according to a report in the Wall Street Journal.
Facebook did not immediately respond to a request for comment.
When companies have more than 500 shareholders, they're required to make significant financial disclosures -- though they can choose to remain private and keep their stock from trading publicly. However, most companies facing mandatory disclosures opt to go public.
The Securities and Exchange Commission gives businesses lots of time to prepare for that milestone. Companies have until 120 days after the end of the fiscal year in which they cross the 500-shareholder line to begin making their disclosures. If Facebook tips the scale this year, that gives it until April 2012 to start filing financial reports.
Facebook's IPO plans have long been a subject of intense Silicon Valley speculation, but the issue heated up this week after the New York Times reported on a Goldman Sachs investment that values the six-year-old company at a staggering $50 billion. That's up sharply from the $15 billion valuation Facebook sported three years ago, when Microsoft shelled out $240 million for a 1.6% stake in the venture.

Five reasons why I'm not buying Facebook

Going public can be painful for hotshot tech companies, which still struggle with the aftershocks of the dot-com implosion. Being public subjects them to significant regulatory requirements -- and to the mercurial tempers of Wall Street analysts and investors. As a result, many of the industry's emerging stars have tried to hold off on their public debuts.
But as companies give away equity to employees and venture capitalists, staying below the 500-shareholder limit becomes a constant challenge. Private investors vie to snap up shares from early stakeholders in private deals and, increasingly, in secondary-market exchanges that operate like public markets. Those secondary exchanges are restricted to accredited investors with assets of at least $1 million -- a safeguard intended to prevent mom-and-pop investors from sinking their cash into risky ventures.
Facebook has gone to great lengths to avoid being forced into public disclosure. By 2008, it had stopped issuing employees stock options and instead gave them "restricted stock units" that would only have value if the company went public or got bought. Those units cannot be sold or traded, and the SEC agreed that those who hold them would not count toward the 500-shareholder limit.
But early staffers and investors own Facebook shares they can sell, and they've been actively unloading them on private exchanges.
Other hot startups, including Twitter, Zynga and LinkedIn, also draw strong interest from private investors, but Facebook is by far the most actively traded company, according to executives from the two most-active exchanges, SecondMarket and Sharespost. 

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Now Could Be The Best Time to Buy Alexandria Home

by ALEX PACHEDZHIEV

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Alex points out these favorable factors that can contribute to making this, for many consumers, a most opportune time to buy a home:

1. Inventory is up. When the market is hot, new listings can’t replenish the supply of homes fast enough, and that works in the sellers’ favor. In today’s market, the opposite is true, providing more choices for buyers.

2. Sellers are motivated. Homes that in a hot market would have been snapped up in days are now lingering unsold for weeks, even months. Factor in bank-owned properties due to the recent and unfortunate spike in foreclosures and buyers find themselves in an advantageous negotiating position they haven’t enjoyed for years.

3. Interest rates are down. Recent cuts in the prime rate by the Federal Reserve have sparked drops in interest rates, which as of today January 5th, 2011 are at 4.75 percent for a 30-year fixed-rate mortgage. While banks have tightened lending requirements in the wake of increased loan defaults, homebuyers with few credit problems, qualifying to purchase a home they can afford, should still have little trouble securing favorable financing terms. What’s more, a market climate like this especially favors buyers who don’t need to sell an existing property before their purchase, buyers like first-timers and those looking for a second home. This tilts the scale even more towards many buyers.

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Longwood Industries Supplies Details To Different Concerns About Non - Profit Corporations

by LONG WOOD

A non-profit organization is usually an corporation that will not send out its surplus money to owners or shareholders, but rather makes use of them to help follow its goals. Types of nonprofit organizations can include charities (i.e. charitable organizations), trade unions, and public arts organizations. Most governments and government agencies meet this definition, however in most countries they're perceived as another type of organization and never counted as nonprofit .

Creation of a nonprofit corporation:
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Following a recognized form of legal entity has been formed at the state level, it is normal for the nonprofit organization to research tax exempt status with respect to its income tax obligations. That's generally done by applying to the Internal Revenue Service (IRS), although statutory exemptions exist for limited types of not for profit organizations. The IRS, after looking at the necessary paperwork to make sure the organization satisfies the conditions to be regarded as a tax exempt organization (such as the purpose, rules on spending, and inside safeguards for a charity), may issue an authorization letter to the nonprofit granting it tax exempt status for income tax payment, filing, and deductibility purposes. The exemption would not affect other Federal taxes such as employment taxes. In addition, a tax-exempt organization must pay federal tax on income which is unrelated to their exempt purpose. Failing to hold operations in conformity to the laws might result in a business losing its tax exempt status.

Individual states and localities offer nonprofits exemptions from other taxes such as sales tax or property tax. Federal tax-exempt status will not guarantee exemption from state and local taxes, and vice versa. These exemptions commonly have separate application processes and their requirements varies from the IRS requirements. Additionally, even a tax exempt organization may be requested to file annual financial reports (IRS Form 990) at the state and federal level.
Issues faced by nonprofit corporations;

Capacity building is an ongoing problem faced by nonprofit corporations for a number of reasons. Almost all depend on external funding (government funds, grants from charitable foundations, direct donations) to maintain their operations and changes in these sources of revenue may influence the reliability or predictability with which the organization can hire and retain staff, sustain facilities, or create programs. Additionally, unreliable funding, long hours and low pay can lead to employee burnout and high rates of turnover.

Founder's syndrome is an issue organizations face as they grow. Dynamic founders with a strong vision of how to operate the project try to retain control over the organization, even as new employees or volunteers want to expand the project's scope and try new things.by: Jenny Square

About: Longwood Industries Incorporated is a non-profit company established in 1972. We are an employer of disabled and non-disabled workers that provides rehabilitative services and offers products and services in numerous lines of business.


Val Kingston