Listen in to my weekly business and economy report on "America Now with Andy Dean." Last Friday, Andy was kind enough to introduce me as the business-lovin' liberal, which he figures is a paradox, an oxymoron, an enigma wrapped in a riddle. All very good, as I felt like an riddle-wrapped-enigma on Friday afternoon.
Much talk of Facebook, of course, as the IPO and a big tax payout for the budget-challenged state of California looms (it's this week, May 18). But also a revisitation of the wild life of Eduardo Saverin, the jilted Facebook co-founder who is now living large in Asia and, much to Andy's dismay, giving up his American citizenship so he can collect more of his nearly $4-billion payout from the Facebook offering.
But we also discussed President Obama's boffo, $15-million Hollywood fundraiser last Thursday, at the house of George Clooney, and we did a little run-through of what the Next Big Tech Startup could be. My personal favorite is Quora, but we also talked about Square, which is one of Twitter co-founder Jack Dorsey's companies. It's a potentially big player in the mobile-payments space. You use, for example, the iPhone app and get a small, square (naturally) card-reader that plugs into the audio jack of an iPhone. Valuation: $1 billion.
Listen in above to my weekly business and economy segment on "America Now with Andy Dean." Last Friday — Friday the 13th, no less! — Andy and I wrangled over some his favorite topics and a few of mine. Talking about the extra days that taxpayers will have to file this year yielded some lively banter about Mitt Romney and a set-up to talk about the Buffett Rule and capital gains.
A bit later, Andy was able to vent about public-sector pensions and unions, while I was able to make the point that...he's a got a point, and that we're going to have to develop new ways to administer these benefits, given that big pension funds, like Calpers in California, aren't going to be able to meet the 7-8 percent targets for returns on investments.
We even got to spend some time discussing Google's stock split, which is either moderately evil or sort of desperate, depending on your point of view. And by the way, I agree with Andy that YouTube's lack of "conservative" channels in a new roll-out is a problem (Google owns YouTube). Conservatives provide great entertainment and it's a miss for YouTube to fail to include them, if that's YouTube's intention.