Share “Facebook’s IPO now hurting California’s...”

Facebook’s IPO now hurting California’s budget

Published on NewsOK Published: January 17, 2013
Advertisement

Sean Higgins

Here’s an interesting story from today’s Wall Street Journal about how bad the budget situation is in California: the disappointing Facebook IPO has forced them to downgrade their budget forecasts:

According to the budget document, the state projected three sources of tax revenue tied to the share offering: stock sales by early investors, vesting of restricted stock after the offering, and the exercise of some stock options, beginning at the time of the IPO.

But Facebook’s lower share price means those transactions are generating less income that can be taxed.

Click to read full article at Washington Examiner


AROUND THE WEB

  1. 1
    Tahlequah police tighten patrols in response to high-profile cases of violence toward officers
  2. 2
    Merle Haggard Laments New Country Music About 'Screwing on a Tailgate'
  3. 3
    Migrants Fleeing Hungary Start a Long March Toward Germany
  4. 4
    When Pets Do Pot: A High That's Not So Mighty
  5. 5
    What Diseases Can You Get from a Water Fountain?
+ show more

FEATURED JOBS



× Trending politics Article