Current Events Cheat Sheet: No More Dippin’ Dots?!?!
Another woman accused Republican presidential candidate Herman Cain of sexual harassment in the 1990s. Cain was working as a Washington lobbyist heading the National Restaurant Association at the time. Three of his former female coworkers claim that he acted extremely inappropriately towards them, inviting them back to his apartment, commenting on their appearance, and making overtly sexual gestures. Of course, many are doubting the validity of these claims- the women have yet to come forward and identify themselves. When the news first broke at the beginning of the week, many thought Cain, the frontrunner at the time, was dunzo. Surprisingly, Cain’s lead has actually grown this week. He’s raised an additional $1.2 million in campaign funds and has strengthened poll numbers.
Dippin’ Dots has some serious money problems. ‘The Ice Cream of the Future’?? Not so much. On Thursday, the company filed for Chapter 11 bankruptcy protection in attempt to avoid foreclosure. With $11 million in loans, there are serious doubts whether the brand can save itself. I remember the first time I had Dippin’ Dots…my life was never the same again. Well, no, not really…but I really will miss those teensy tinesy pearls of frozen ice cream if the company can’t pull itself together. Where would malls and amusement parks be without them?
Cash-strapped Groupon sold off 4.7% of its shares on Friday. It’s insane to think that Groupon — a coupon service used by almost every city dweller I know — is so in trouble that they had to make the company public. But they did, and it went well. The IPO (Initial Public Offering) opened at a price of $28 per share and closed at $26.11, peaking at a high $31.14 in between. In the end, the IPO made the company $700 million. Enough, hopefully, to salvage the unprofitable coupon website that lost a total of $214 million this year. The price per share means the total company is worth about $13 billion, a number lots of commentators are doubtful of. People just got excited, they say, and bought up the new stocks, but the prices will drop quickly… so sell, sell, sell. Not that any of us probably bought Groupon stock anyway, but hey, you never know.
Andy Rooney, the legendary commentator from 60 Minutes, passed away on Friday at the age of 92. Rooney only stopped delivering his trademark cranky and wry send-offs this year. He started in 1978, and never missed a week, which makes a total of 1,097 different pieces. Rooney was in the army, wrote several books, wrote a newspaper column, and won a Peabody Award, but what really got him famous (of course) was his time at CBS. Here are a couple of my favorite Andy Rooney quotes from over the years: “Over the past few years, more money has been spent on breast implants and Viagra than is spent on Alzheimer’s Disease research, it is believed that by the year 2030 there will be a large number of people wandering around with huge breasts and erections — who can’t remember what to do with them.” “If you smile when no one else is around, you really mean it.”
Pic o’ the Week:
Even though the Occupy movement started on Wall Street, things are really heating up in Oakland. On Wednesday, thousands of protestors headed to the city’s port, eventually closing it down completely. Even worse, things got scary at night, when both police and protestors got increasingly violent.
(Robert Galbraith, Reuters)