Welcome back to our Friday re-cap of this week’s news on the money side of life.
Facebook IPO fallout. After last week’s IPO sales boom turned into a disappointing slip in share price all in a matter of 24 hours, the Facebook IPO drama continues. This week, investors filed a class action lawsuit against Facebook and Morgan Stanley, claiming that the companies withheld Facebook’s diminished earnings forecasts from all but high-profile investors.
CEO pay at new high. A study from the Associated Press found that in 2011, median CEO pay reached $9.6 million, the highest since the AP began tracking it in 2006. In contrast, the median U.S. American worker salary last year was $39,300. If that’s you, don’t feel bad–you can catch up and eventually earn $9.6 million too. It’ll just take you 244 years.
Guy finds mystery money, spends it. Joseph Bucci of Pennsylvania had $35.46 in his bank account one week. The next week, the account contained a mysterious $69,300. Instead of bringing it to the attention of Wells Fargo Bank (where a teller had accidentally entered the wrong pin number for a deposit), he went on a full out spending spree, which included a Florida vacation and a new puppy. This week he turned himself into the police and is now facing a 7- to 14-year jail sentence. Yeah, you can’t do that.
Not just women’s work. According to a New York Times story out this week, more men are now pursuing careers traditionally held by women–like teaching, nursing, and dental hygiene.
$2,000 for a kidney? Though it’s currently illegal, a recent NPR poll found that 41% of people think monetary compensation for organ donations would be a-okay. 60% would support health care credits for living donors of kidneys, bone marrow, and parts of their liver. This week the conversation continued. What do you think?
Happy Memorial Day weekend!
Photo by Mark Coggins via cc.
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