A Business That's Not About Facebook
Here are 10 things that have happened recently that had nothing to do with a social-media startup that just went public:
- Investors traded shares in more than 12,000 companies that are publicly listed in the United States, without any technical glitches.
- ExxonMobil defied the odds and earned approximately $112 million in net profit per day, even though it has never articulated a coherent social-media strategy.
- Technology-sector stocks rose about 9 percent for the year through mid-May, outpacing the broader stock market with no help from recent IPOs.
- After grazing the unnerving $4 per gallon mark in early April, gas prices fell back to an average of $3.77, forcing Americans to drive more and stop conserving energy.
- A luxury condominium complex in New York City said it plans to offer an underground parking space for $1 million per year, plus maintenance fees.
- Americans continued to provide their personal information to websites that make money from it, in exchange for a free place where they can post pictures of their dogs and pretend they have an important job.
- Greek depositors started to withdraw their money from banks en masse, but don't worry, Europe can handle it.
- President Obama launched a new public-service campaign meant to educate Americans about the important role of private equity in the U.S. economy.
- The private company SpaceX launched a rocket into space, a key milestone in the shift from expensive government-funded space missions to cheaper, outsourced ones endorsed by the Tea Party.
- Ron Paul became a semi-retired presidential candidate, a strategy John McCain wishes he had used.
Oh yeah, there was one other important piece of news: Mark Zuckerberg got married, and wore a tie.
Rick Newman is the Chief Business Correspondent for U.S. News & World Report and author of Rebounders: How Winners Pivot from Setback to Success. Copyright 2012, author retains ownership. All Rights Reserved.
