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    Business

    Embittered Facebook investors ponder next move

    In this May 21, 2012 file photo, television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square. To say that Facebook's debut as a public company was bungled is something like saying Facebook is a website you might have heard of. Either way, itís a colossal understatement.

    May 26, 2012 4:39 PM

    The response from small-time investors over Facebook's debut as a public company has been equal parts frustration, confusion and bitterness. Fed up, some are dumping their shares and accepting the losses. Others, while miffed, are holding on and hoping to ride the stock's eventual success. "I'd rather have my foot in the door and get it squished a little bit," one investor said, "than not have my foot in the door at all."

    Business

    Spain’s lender Bankia says it won’t need more aid

    Bankia’s president, Jose Ignacio Goirigolzarri, looks to his side during a press conference at the bank’s headquarters in Madrid, Saturday. Spain’s troubled bank, Bankia, has asked the Spanish government for $23.8 billion in financial support just as a leading credit rating agency downgraded it to junk status. The request came as Standard & Poor’s downgraded Bankia and four other Spanish banks to junk status because of uncertainty over restructuring and recapitalization plans.

    May 26, 2012 2:07 PM

    The president of Bankia tried Saturday to calm fears about the future of the bank, saying Spain's second largest mortgage lender will emerge as a solid financial entity after it receives $29.5 billion in state aid in the country's biggest-ever bank bailout. Bankia and its parent group BFA are prepared to sell a large portfolio of real estate and a "significant package" of companies as part of its efforts to turn itself around, President Jose Ignacio Goirigolzarri told reporters.

    Business

    In Cuba, mystery shrouds fate of Internet cable

    People are reflected in an advertisement for Internet, chat and email at a state-run computer center in Havana, Cuba. Cuban officials welcomed the arrival of an undersea fiber-optic cable linking the country to Venezuela, which was supposed to boost web capacity 3,000-fold. Even a retired Fidel Castro had hailed the dawn of a new cyber-age on the island. More than a year later, the government barely speaks of the cable anymore and Cuba’s Internet connection is still the slowest in the hemisphere.

    May 26, 2012 9:02 AM

    It was all sunshine, smiles and celebratory speeches as officials marked the arrival of an undersea fiber-optic cable they promised would end Cuba's Internet isolation. More than a year later, the government never mentions the cable anymore. "They did some photo-op ... and then that scandal came out, and then it just disappeared from human consciousness," California State University professor Larry Press said.

    Business

    Lone inventor in the garage? It’s a myth

    A more modern example of the gap between creation myth and reality can be found in the Palo Alto, Calif., garage where William Hewlett and David Packard worked together in 1938 to build custom electronic devices — a legendary partnership that eventually became the Hewlett-Packard Co. Today, that garage is marked with a plaque from the National Register of Historic Places declaring it “The Birthplace of ‘Silicon Valley.’ “

    May 26, 2012 9:03 AM

    As Americans, we tend to embrace the notion that a brilliant inventor doesn't need much more than a garage, a sturdy workbench and a dream. From Thomas Edison to Iron Man, our inventor-heroes have been popularly viewed as single-combat warriors working feverishly in a basement or some other threadbare den of solitude.

    Business

    Say what? The odyssey of Kraft’s new name

    When Kraft revealed that it planned to name its new global snack business ‘Mondelez,’ it caused a minor stir. Kraft was careful to explain that the made-up word is an amalgamation of the Latin word for ‘world’ and ìa fanciful expressionî of the word ‘delicious.’ The linguistic concoction was the result of a four-month long process that reflects the extensive consumer research and vetting names are subject to in the corporate world. It also brings to light the powerful role language can play in shaping appetites and even dictating a brand’s fate. The right name might even persuade consumers to detect phantom homespun qualities in packaged snacks that rolled off a factory conveyor belt.

    May 26, 2012 7:25 AM

    "MONDEWHAAAAT?" The sarcasm was palpable in the one-word headline that appeared in The New York Post on the day after Kraft Foods revealed that it planned to name its new global snack business "Mondelez," an interpretation of a mash-up of the Latin words for "world" and "delicious." But that wasn't the only dig.

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