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Starbucks Corporation Message Board

  • realtorgary realtorgary Sep 4, 2012 10:54 AM Flag

    S C A M

    It is David Ebersman’s fault. There is just no way around it. Mr. Ebersman is Facebook’s well-liked, boyish-looking 41-year-old chief financial officer. He’s not as well known as Mark Zuckerberg, Facebook’s founder and chief executive, or Sheryl Sandberg, its chief operating officer and recently appointed director.

    Facebook
    Tony Avelar | Bloomberg | Getty Images

    But when it came to Facebook’s [FB 17.98 -0.078 (-0.43%) ]catastrophe of an initial public offering — the stock reached a new low on Friday, closing at $18.06 — it was Mr. Ebersman, not Mr. Zuckerberg or Ms. Sandberg, who was ultimately the one pulling the strings.

    Now, three months after the offering, the company has lost more than $50 billion in market value. Let me say that again for emphasis: Facebook’s market value has dropped more than $50 billion in 90 days.

    To put that in perspective, that’s more market value than Lehman Brothers gave up in the entire year before it filed for bankruptcy.

 
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