NEW YORK - Facebook's shares opened 11 percent higher, but soon struggled to stay above their $38 offering price. More than 30 brokerages and banks were involved in the offering, which saw a nearly 571 million shares change hands on Friday - a record for a stock debut. The Internet company's shares opened Friday around
DETROIT - General Motors has decided it won't advertise in the next Super Bowl, a surprising reversal of strategy that comes as the auto maker overhauls its global marketing operations. GM also announced earlier this week it would no longer advertise on Facebook. Super Bowl advertising is effective but has become too expensive to justify
ANN ARBOR - Michigan's Venture Capital community is growing, both in size and in the number of deals, according to a new report released Monday by the Michigan Venture Capital Association. ?It's particularly exciting to see significant growth - 64 percent - in venture capital under management by Michigan firms as well as a trend
LANSING ? Michigan Senate Republicans on Thursday drastically changed legislation directing how local governments would receive reimbursement in exchange for curbing the personal property tax. The key change cited by local government organizations, which have switched from opposition to neutral as a result, would reinstate the personal property tax to its current form if future
LANSING - Governor Rick Snyder took part in a high-level meeting with Canadian Transport Minister Denis Lebel and the U.S. Ambassador to Canada, David Jacobson, in Windsor, Ontario, Thursday, to discuss details regarding the proposed new international bridge between Detroit and Canada. A spokesperson for Snyder said the meeting was a continuation of the conversations
WASHINGTON D.C. ? Teresa M. Takai, Acting Assistant Secretary of Defense for Networks and Information Integration, the Department of Defense?s Chief Information Officer, said in an interview that cyber defense is a major part of the DOD's technology agenda. But she declined to characterize the current climate of often state-sponsored cyber attacks as cyber war.
GRAND RAPIDS - Open Systems Technologies is looking for start-ups, innovators and entrepreneurs to submit a big business idea that could win $5,000 worth of IT services courtesy OST. The Think Big contest allows entrants to share their out-of-the-box, yet practically innovative idea with OST. The campaign, which runs through June 7, is offered by
WASHINGTON D.C. ? Summer vacationers beware. Recent analysis from the FBI and other government agencies demonstrates that malicious actors are targeting travelers abroad through pop-up windows while establishing an Internet connection in their hotel rooms. Recently, there have been instances of travelers' laptops being infected with malicious software while using hotel Internet connections. In these
LANSING ? Michigan public employee retirement systems may soon be able to more greatly diversify their retirement portfolio and expand their funds globally if a bill reported Wednesday from the Senate Appropriations Committee becomes law. "At the end of the day, the world has changed," said Sen. Mark Jansen (R-Gaines Township), sponsor of the bill.
LONDON - Analyst firm Ovum said Android will be the dominant operating system in the smartphone market over the next five years as handset vendors rush to make it their primary smartphone platform. Smartphones will outperform the overall market for mobile phones, growing at a compound annual growth rate (CAGR) of 24.9 percent for the