The One Group Pleased by Nasdaq's Facebook Repayment Plan -- and Other News Told in Charts
Nasdaq (NDAQ) proposed a plan to compensate customers who lost money in the glitch-filled Facebook (FB) IPO. And guess what? Almost everyone hates the plan. Other exchanges including NYSE Euronext (NYX) hate it because it involves rebates that they say will let Nasdaq undercut their prices, says Reuters. Meanwhile member firms hate the plan because the $40 million Nasdaq has offered is a lot less than the $150 million to $200 million they probably lost. But you know who doesn’t seem to mind the plan so much? Investors in Nasdaq:
Chesapeake Is Dumping Pipelines But Built Shopping Centers
It’s hard to tire of the drama at Chesapeake Energy (CHK). The embattled natural gas producer, or corporate train wreck if you prefer, is close to selling pipelines for $4 billion, reports Bloomberg. This is one of the options that billionaire and shareholder activist Carl Icahn said he’d push for to close the company’s estimated $22 billion shortfall. Meanwhile, a different Bloomberg story says Chesapeake had been busy amassing a real estate portfolio, including shopping malls and a church, around its hometown of Oklahoma City. Natural gas and real estate: now that’s a winning combination.
Morgan Stanley Getting Less Physical
CNBC reports that Morgan Stanley (MS) may sell a stake in its well-known, profitable commodities unit. Morgan Stanley declined to comment for the story, but CNBC said regulatory reform could be the reason. Such a sale could help improve the bank’s capital base but also cut into its income.
The Map Wars Have Begun
Google (GOOG) is rolling out an expanded version of Google Maps and Google Earth. Cities will be shown in 3-D, and and Google Maps will be available even when a smartphone lacks a wireless connection, the Wall Street Journal reports. Google made its announcement just as Apple (AAPL) is reportedly getting ready to launch its own mapping service.
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