Best of the Blogs: Will There Ever Be a Google Dividend?
Minyanville StaffMar 21, 2012 10:30 am
Minyanville's daily roundup of some of the best financial commentary from around the Web.
This column highlights the most interesting and useful business and financial commentary from around the Web each day. Feel free to send along your own suggestions for blog content that you've read or written.
"Now that Apple has broken with tradition and issued a dividend, who among the non-dividend paying tech firms will follow suit? Impossible to say, though the company that's likely at the top of the short-list is Google. With $44.63 billion in cash and cash equivalents on its balance sheet as of Dec. 31, the search behemoth is the most cash-rich tech company among the big dividend holdouts. In fact, it's now the only tech company with a market cap above $100 billion that doesn't offer a dividend." (For related content, see iYawn? Apple Announces Dividend and Share Repurchase Program.)
"When Facebook goes public this year, it will raise at least $5 billion, making it the biggest Internet IPO the world has ever seen. The day it debuts on the stock exchange, Facebook will be worth more than General Motors, the New York Times Company, and Sprint Nextel combined. The next morning, Mark Zuckerberg's smiling face will appear on the front page of newspapers around the world. But don't be surprised if that smile looks like the forced grin of someone dragged to the altar." (Also read The Facebook IPO: Google All Over Again, and a New Tech Bull Market?)
"The recent pop in the 10-year Treasury Note's yield-up about 40 basis points this month to ~2.4%--has inspired cries that the end is near. One Wall Street analyst lamented that the recent pop in this rate was a sign of rising inflation expectations and that this was something to worry about...NOW! He also recognized that the market's repricing of Treasuries for higher yields also reflected a brightening economic outlook. But he couldn't see that the two trends are, in fact, connected these days because the new abnormal continues to rule." (For related content, see Trouble Ahead: Employment, Inflation, and the Fed.)
"Job losses among women during the recent recession exhibit a curious pattern by marital status that is revealing about the importance of labor demand and supply factors. During the 2008-9 recession, job losses were not equitably shared; employment rates fell more for some groups than others. Not surprisingly, employment changes varied by industry, with the greatest percentage job losses in residential construction and large job losses in manufacturing."
"Despite five months in a row of falling housing prices and other ominous signs in China's property sector, the country's real estate practitioners have nevertheless managed to maintain a surprising level of optimism. But considering how many Chinese investors and developers failed to anticipate the extent of the current slowdown in the domestic property market, Tsinghua University economist Patrick Chovanec said at a property panel in Beijing on Tuesday, the time has come to dispel a couple myths about certain silver bullet solutions for the sector."
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