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Marketplace Scratch Pad

Morning Reading

Scott Jagow Apr 1, 2009

Facebook’s CFO gets fired, Twitter has a new plan to make money, the Earth has too many people, London plans to open an economic theme park, a college mistakenly accepts thousands of the wrong students. Those are a few of the stories for April 1st, and some of them are true.

Facebook’s CFO Exits: Enter, the Questions (Businessweek)
“Over the last two years, Facebook has lost a number of talented executives, an unusual trend for such a hot startup.”

The President isn’t serious about reform for Detroit (WSJ)
“President Obama rightly says “sacrifices” must be made if GM is to emerge as a viable company. But there’s one sacrifice he won’t make: his re-election chances, by leaving the fate of the UAW truly up to a bankruptcy judge.”

Obama’s Weird Double Standard: Wall Street vs. Detroit (Clusterstock)
“Why does the Obama administration refuse to hand the bill for our banking catastrophe to the folks who deserve it–bank bondholders and shareholders? Why do taxpayers have to pay that bill, while we’re spared most of the pain in Detroit?”

First They Come After the Rich (Real Clear Markets)
“Previously, no one in New York seemed to consider that taxing the rich meant taxing public school teachers. Politicians, everyone assumed, were just gunning for those bonus babies at AIG. Now, instead, a lot of people are going to be very surprised.”

Motley Fool Applies for Government Bailout (Motley Fool)
In the “Areas of Business Operation” section of the federal aid application, she suggested we add “auto company” to our list of industries. Auto company? Yes. This was mostly justified, as for many years, we’ve owned and operated a Foolmobile and at special events, we would charge children for rides.

Earth population ‘exceeds limits’ (BBC)
Pressed on whether she thought the world population was simply too high, Dr Fedoroff replied: “There are probably already too many people on the planet.”

UC San Diego sends wrong e-mail to rejected students (LA Times)
“UC San Diego Admissions Director Mae Brown said this morning that an “administrative error” was responsible for a bogus e-mail that went out to 28,000 students congratulating them on their admission and welcoming them to the campus.”

A New Theme Park – Econoland (Economist)
“High unemployment in the area will only increase the facility’s attractions, as former City workers seek to recapture some of the excitement they enjoyed in their professional life. Heavy investment in security and a landscaped moat and electric fence will neutralise any potential threat from the growing anarchist presence.”

Twitter’s plan to make money (Wired)

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