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Best of the Blogs: NYSE CEO Compares Facebook IPO Debacle to BP Oil Disaster


Plus, Chesapeake Energy sells its midstream assets to raise cash.

This column highlights the most interesting and useful business and financial commentary from around the Web each day. Use our comments section to post your own suggestions for blog content that you've read or written.

The Wall Street Journal: Deal Journal
Link: NYSE CEO Compares Nasdaq's Facebook Handling to BP Oil Spill

"New York Stock Exchange's Duncan Niederauer isn't pulling any punches in the fallout of Facebook's (FB) IPO and Nasdaq's attempt to fix the problem.

"After NYSE blasted Nasdaq's plan in a statement, Niederauer went on CNBC today and continued to beat up the proposal as "contrived" and lacking accountability, clarity and fairness.

"Then he went on to compare Facebook's IPO to the oil spill in the Gulf of Mexico that cost billions of dollars, took the lives of untold sea creatures and wreaked havoc on an entire economic region."

The New York Times: DealBook
Link: Chesapeake to Sell Assets for $4 Billion

"Chesapeake Energy (CHK) said on Friday that it would sell its midstream assets to Global Infrastructure Partners for more than $4 billion, cutting expenses and adding much-needed cash to the beleaguered driller's coffers.

"In a series of deals, Chesapeake agreed to sell its holdings in Chesapeake Midstream Partners for $2 billion and some midcontinent gathering and processing assets of CMP and all of its interests in a subsidiary, Chesapeake Midstream Development, for another $2 billion."

Link: WWDC: Developers More Excited About iOS Update Than Andriod [Report]

"Developers are eagerly awaiting the news that will come out of Apple's (AAPL) Worldwide Developers Conference (WWDC) next week, and according to a new report, they're looking forward to it more than the Android updates likely to surface from the upcoming Google (GOOG) I/O event in late June, a report suggests."

Link: The Obama-Romney War Over Private Equity Is Just Beginning

"It seems private equity investors hoping that the unprecedented national debate over their industry would soon be coming to a close are going to be disappointed.

Despite Bill Clinton's recent defense of private equity firms, all signs on Friday point to the potential of another round of private equity bashing, followed by an equally vigorous defense. Somewhere along the line people will probably learn that Bill Clinton used to work for a private equity firm in one of the most lucrative jobs of his career."

The Huffington Post: The Blog: Business
Link: Kraft Foods Ditches NYSE For Nasdaq

"Kraft Foods Inc. (KFT) is spurning the New York Stock Exchange and moving its stock listing to the Nasdaq, a move the company says will cut costs as it prepares to split into two publicly traded companies."

Twitter: @ChrisWitrak
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