Poor Facebook stockholders. Their pain must be excruciating right now. We had no idea this was going to happen, even though we did warn that the hype had seemed to be pretty feverish. As always, time will tell.
This does give us an opportunity to trot out a new investing term we’ve learned from one of our favorite websites: Investopedia. “If a stock or other asset is headed toward bagel land or is approaching $0 (resembling the hole in the middle of a bagel), investors generally feel that the security is nearly worthless.”
Speaking of bagels – deep inside the world of retail cafes serving bagels, there is a move afoot to merge several bagel operations. Portland Business Journal reports: “Nation’s Restaurant News reports in its current edition that “(T)he time is right for the parent of the Einstein Bros Bagels, Noah’s New York Bagels and Manhattan Bagel brands, to explore strategic alternatives.”
Quick – call out the trust-busters! We’re not going to discuss this silly concept at this time, except to say that no trust can exist for long without government protection.
Speaking of bagel land – this is where Eastman Kodak landed back on Jan. 19, 2012, when the company, founded in 1888, filed for bankruptcy. It breaks our heart to report this and we’re sorry we were so late, but bad financial news had been coming for months. We did warn you though back on Nov. 3, 2011.