SAN FRANCISCO – A federal appeals court ruled Monday that former Harvard University schoolmates of Facebook founder Mark Zuckerberg can't undo their settlement over creation of the social networking site.
The 9th U.S. Circuit Court of Appeals said Monday that Tyler and Cameron Winklevoss were savvy enough to understand what they were agreeing to when they signed the agreement in 2008. The deal called for a $20 million cash payment and a partial ownership of Facebook. A third classmate, Divya Narendra, was part of the settlement with the twins but did not pursue the second lawsuit seeking to undo the agreement.
Monday's ruling upholds a lower court decision enforcing the settlement during the six years of litigation that grew so contentious that the dispute was dramatized in the Oscar-nominated film, "The Social Network."
The settlement is now worth more than $160 million because of Facebook's increased valuation.
The twins had alleged they were misled about Facebook's value when they agreed to settle their lawsuit that claimed Zuckerberg stole their idea to launch Facebook.
"At some point, litigation must come to an end," chief justice Alex Kozinksi wrote for the unanimous three-judge panel "That point has now been reached."
The twins alleged they were misled into believing the company was worth $35.90 a share because of an investment by Microsoft Corp. But they argued that the company later valued the company at $8.88 for tax purposes. The twins argue they would have demanded more stock in the company based on the lower valuation.
Kozinski said the twins were "sophisticated parties" when they agreed to the settlement during a mediation meeting.
"They brought half-a-dozen lawyers to the mediation," Kozinksi wrote.
Facebook said Monday it was pleased by the ruling. Lawyers for the Winklevoss twins said they are reviewing the decision and have not decided on their next step. The twins could ask the Supreme Court to consider the case.
Mere seconds into Inter's Champions League first leg match against Schalke, Dejan Stankovic blasted in the first goal in lovely fashion. Schalke goalkeeper Manuel Neuer charged out of the box to head the ball away and in doing so, he set up Stankovic (who has punished opposing goalkeepers like this before) for a long-range volley from midfield. Stankovic didn't waste the golden chance, smashing the ball into the empty with a shot out of FIFA 11 to put Inter up 1-0.
Underdog Schalke would fight back in stunning fashion, though, winning 5-2. But if Stankovic can just do this a few more times in the second leg, Inter will be right back in it.
GAINESVILLE, Florida (AFP) – An evangelical pastor whose church burned a Koran last month said he was "devastated" but did not feel responsible for the killings Friday of seven UN workers in a violent protest in Afghanistan.
"We are devastated by that information, that news," Terry Jones, the head of the Dove World Outreach Center in Gainesville, told AFP. "We don't feel responsible for that."
The United Nations said four Nepalese guards, three foreign UN workers, and several protesters were killed when a mob enraged by the Koran burning attacked the UN compound in the Afghan city of Mazar-i-Sharif.
Jones presided over the burning of the Islamic holy book March 20 at his Florida church, an act he had long threatened despite warnings it would put American troops and others in Afghanistan in danger.
"The radical element of Islam takes that as an excuse to promote their violent activities," Jones said Friday. "What we would like to see is the United States government standing up, the UN standing up.
"It's time to stop ignoring the violence going on in Muslim countries like Pakistan and Afghanistan," he said.
Jones said the killings "won't change anything we're doing" but added that there's no plan to burn another Koran.
"We have, right now, no plans, no," he told AFP when asked if he will burn another Koran.
"It is not part of our agenda to go around the country burning Korans."
Don Northrup founded the church "in the living room of his home" in 1986 in Gainesville, according to the church's website. Members raised $150,000 to build the church in its current location.
Northrup died in 1996 and Jones took over several years later.
The church's website encourages visitors to donate money and offers for sale coffee mugs, t-shirts and caps -- all featuring anti-Islam slogans.
The website also rails against homosexuality and abortion.
Despite his beliefs about Islam, Jones said: "We're not Koran experts." He added that, "I would not consider myself an expert on the Bible."
Luke Jones, 29, said he and his father are "common people."
"We've not studied the Koran, but we still have an opinion. We're actually not educated. We're common people," said the son, who also is a pastor at the church.
Terry Jones said he has received a death threat, prior to the killings Friday, which has made him "very cautious" but "not fearful."
Luke Jones, who is licensed to carry a gun, said he is married and has two children and has made preparations for his grandparents to take care of his family in the event that he should die.
"It worries us," he said of the threat, "but our convictions are too strong."
Luke Jones said the church should not be held accountable for the killings.
"It's horrible, it's tragic, it's definitely not on our hands," he said. "We did not promote violence or killing, we simply burned a book."
He added: "None of us desire to die. A lot of people hate us, a lot of people don't understand us. I have children. I don't want them to deal with this their entire life."
It's a pregnant woman's dilemma. Once you are ready to go into labor, deciding when to go to the hospital or when to stay home can be a difficult decision. You hate to run to the hospital just to be sent home having overreacted. But, staying at home too long can be detrimental to you or your baby. Women are always eager to share with you how they went to the hospital with multiple episodes of false labor or how they delivered a baby in the car on the side of the interstate. Both sagas strike fear in the heart of the pregnant woman awaiting labor. How do you know when to go and when to stay? When to go to the hospital Once you reach 36 weeks in your pregnancy, you should continue to be vigilant about your own health and the well being of the baby, just as you were during the preterm period. The same health concerns should be evaluated whether early or late in pregnancy. But now you are "term" and it's okay to go into labor and for the membranes to rupture. Initially, you may pass a mucous plug that may be gooey and bloody. You may have some pink spotting or light bleeding referred to as "bloody show." Labor could come soon or be days away. These symptoms alone should not send you to the hospital but should let you know to get ready. The early period of labor can be quick or drag on for some time in a phase called "prodromal labor." As a general rule, when contractions are consistently 5 minutes apart for 1 hour, then it's tme to go to the hospital. Finally, anytime your membranes rupture, you should go in. Once the membranes are ruptured, the baby is exposed to the outside germs and becomes susceptible to infection if left too long. In general, it's better to deliver within 24 hours after the membranes rupture. It's important to go to the hospital so that labor can be initiated if it doesn't rapidly ensue after the membranes rupture. You can always call to make sure
If you're not sure about when to go to the hospital, don't hesitate to call your healthcare provider. There is always someone on call able to answer your questions. I wouldn't call in the middle of the night to ask about something that can wait for daytime but if you are truly worried that you may need immediate care, either call your provider or go to the hospital. You can never be too careful where your baby is concerned, and you don't want to deliver on the interstate!
TABJ – March 30 – Heineken N.V. has offered US$163 million for a pair of Ethiopian breweries in a bid to work its way into the East African beer market, Reuters is reporting.
“With its large, growing population, political stability, improving economy and rapidly growing beer market, Ethiopia is a promising, long-term growth market for Heineken in Africa,” the world's third-largest brewer wrote in a statement, according to Reuters.
The bids for the state-owned Bedele and Harar breweries will be reviewed by the Ethiopian government, with a decision not expected for up to four months, Heineken said.
The two breweries have a total market share of 20 per cent, which would position Heineken as the No. 2 brewer in Ethiopia, according to a Wall Street Journal report. A subsidiary of France's Groupe Castel is the current market leader.
The Ethiopian play is just the latest move by Heineken into Africa. The Amsterdam-based brewer has made recent purchases in Nigeria, Rwanda and South Africa.
While many states are confronting severe budget shortfalls and dragging economies, North Dakota has a different sort of problem. It's stuck deciding how best to deal with a budget surplus. Yes, a surplus. North Dakota's balance sheet is so strong it recently reduced individual income taxes and property taxes by a combined $400 million, and is debating further cuts.
That's not exactly what residents of California ($25.4 billion projected budget shortfall for the 2012 fiscal year), Texas ($13.4 billion), New Jersey ($10.5 billion), New York ($10 billion), and 42 more states with projected 2012 budget shortfalls are in line for.
I can just hear the snarky comment formulating in your head right about now -- something about North Dakota's rough winters, and comparative lack of high-brow culture or pro sports teams, no doubt. Duly noted. But if we keep the conversation to economics and fiscal policy, North Dakota has plenty to admire. North Dakota: We're No. 1 ... or Darn Close to It!
North Dakotans are way too polite to make that boast, but I'll do the honors. Here's how North Dakota outranks most states:
• Lowest unemployment rate among the 50 states. North Dakota's 3.8 percent unemployment rate is less than half the national rate.
• Statewide GDP growth of 3.9 percent ranked third in the nation in 2009 behind Oklahoma and Wyoming (2010's figures are not yet available.)
• Best job growth last year. A Gallup survey reported that North Dakota businesses had the best ratio of hiring to firing among the 50 states.
• Stable housing market. Across the nation, nearly 1 in 4 homeowners with a mortgage are underwater. In North Dakota, just 1 in 14 have negative equity, the fourth lowest negative-equity ratio among all the states. The state also has the third-lowest home foreclosure rate. Affordable homes are a big part of the story here; let's just say you don't need to overstretch to own. According to Zillow, the median home price in North Dakota is below $150,000. That's less than three times the state's median household income. By comparison, even after sharp post-bubble price declines, the median priced home in California is still about five times median household income.
• Low violent crime rate. The incidence of violent crime per 100,000 residents in North Dakota in 2008 (latest available data) was the fourth lowest in the country and nearly 60 percent lower than the national average.
• Lowest credit card default rate. According to TransUnion, North Dakotans seem to have a handle on spending within their means.
Add that all up and you have the makings for a pretty contended bunch. In fact, Gallup recently concluded that North Dakota is the third happiest state in the U.S., trailing only Hawaii and Wyoming. (The saddest state? West Virginia.)
[Happiest U.S. Cities to Work] Riding the Global Commodity Wave
North Dakota's economic good fortune is pretty much a function of being a major producer of two very in-demand commodities: wheat and oil, both of which have seen huge global price increases. The state is the country's #1 producer of durum wheat -- that's what pasta is made from -- and is also a major grower of other crops including barley, pinto beans, and flaxseed.
The state also currently accounts for 2 percent of domestic oil production. Sound puny? Keep in mind that North Dakota has just 650,000 residents, accounting for about 0.20 percent of the overall U.S. population. And it's aggressively ramping up its oil production. During the past 12 months, North Dakota's crude oil production is up 43 percent, and is triple the rate from five years ago.
[Better Deal: Target or Walmart?] Planning for a Rainy Day
While residents are indeed seeing some of the revenue over-flow returned to them via income tax and property tax cuts, they are also supportive of tucking away some of today's winnings for less robust times. This past November, nearly 64 percent of North Dakotans voted in favor of establishing a Legacy Fund that will siphon off 30 percent of total revenue collected from oil and gas production into a special savings account to help the state if/when the boom busts. The earliest the Legacy Fund can be tapped is 2017 and even then any disbursements from this de facto state emergency savings fund must be approved by at least two-thirds of the state legislature. During North Dakota's 2011-2013 budget cycle (it operates on a 2-year budget), the fund is expected to reach $619 million, or about one-fifth the state's proposed spending for that entire period. Of course, not every state has a commodity-driven windfall at its disposal, but I also don't think every state's residents would be so behind saving current revenue for a rainy day.
There's also another uniquely North Dakota economic engine worth noting. North Dakota has the only state-owned bank in the country. Established way back in 1919 amid a rash of farm foreclosures, the bank provides capital to smaller local banks, reducing their reliance on big national banks that, um, sometimes like to turn off the lending spigot. Moreover, when the state bank turns a profit, residents benefit. Over the past 10 years, the state bank has deposited about $300 million back into the state's general fund.
Sure it's easy to take a good-natured swipe at North Dakota's lousy winters. But a strong economy and a fiscal ethos that appreciates the value of saving deserves some respect, if not outright envy, as well.
Consider this a public service announcement: Friday is April Fools' Day. Aspiring pranksters are scouring the Web for ideas on how to trick their friends, co-workers, and (perish the thought!) their sweet, innocent children. Over the past 24 hours, online lookups for "april fools day pranks" and "april fools day jokes" have more than doubled.
Most folks are simply seeking out lighthearted pranks. To wit, the interest in "easy april fools day pranks" far outweighs lookups for "elaborate april fools day pranks." And what could be easier than sending an April Fools' Day text. Lookups for examples of prankster text messages are up more than 50%. So, you should probably take any mysterious messages you receive tomorrow with a grain of salt.
In terms of proposed targets, co-workers seem to be the most popular marks. Web searches on "how to trick coworkers" and "best april fools day office pranks" are both surging. Mashable offers plenty of ideas, including tricking your co-workers into thinking that their computers have been equipped with speech-recognition technology. (Watch them talk to their monitors like, well, fools.) Just remember that it's not a good idea to: a) make the victim cry, and b) do anything that will get you in trouble with HR.
You should keep your wits around you when watching TV or surfing the Web. Companies like to have a little fun with the gullible public on April 1. Remember back on April 1, 1998 when Burger King announced their newest creation: The Left-Handed Whopper? Or in 1992 when NPR told its listeners that Richard Nixon was planning on running for president? Bottom line: Trust no one.
Also hugely popular--the history of the holiday. Why does everyone lie, trick, and prank one another on the first day of April? Nobody knows with absolute certainty, but the urban legend experts at Snopes.com speculate that the tradition started when Pope Gregory XIII introduced a new calendar that declared January 1 as the first day of the year. Previous to this, the year started on April 1.
It took a long time for the news to travel (no text-messaging back then), and people who still celebrated the new year on April 1 were called "April fools." Tricks, pranks, and jokes were apparently played on them.
Finally, there are significant searches for "april fools day quotes." The best we can find comes from Mark Twain, who remarked: "The first of April is the day we remember what we are the other 364 days of the year."
