Money Talking: Facebook’s IPO Flop and White Male Board
Thursday, May 24, 2012
Facebook’s much-anticipated debut as a public company has turned out to be a small disaster. The company and its lead investment bank, Morgan Stanley, are under fire from regulators and Congress; and the head of NASDAQ is apologizing for its role in how the stock offering was conducted.
Meanwhile, the “new economy” has an “old economy” problem: male domination. Facebook’s board of directors consists of seven white men. It’s not the only tech company lacking female executives. If these are the companies of the future and the next generation of leaders, where are the women?
And Rana Foroohar with Time and Joe Nocera with The New York Times run down what they’re watching to make news in the weeks ahead: a possible Greek exit from the eurozone and dissent at the Wal-Mart board meeting.