Potential Big Bucks Bring Other U.S. Companies in Space Race after SpaceX

With an aim to make money in commercial space race as much as eight U.S. companies have started their bid even more aggressively after SapceX’s successful launch of its rockets early this week. Most of the companies, planning to jump in the new market, think that they can make even more money than major U.S. airlines in operations.

Potential Big Bucks Bring Other U.S. Companies in Space Race after SpaceX

The reusable space cargo capsule ‘Dragon’ was lifted off atop Falcon 9 rocket is expected to reach near the space station for tests early Thursday and ultimately will dock on Friday with its load of supplies. 

Space Exploration Technologies Corp. (popularly known as SpaceX), run by Elon Musk (co-founder of PayPal and Tesla Motors) was hired by NASA to deliver cargo in the first hand, then eventually astronauts to the orbital outpost.

Private space exploration companies have planned for years about carrying supplies and human for NASA, but this is the first time one is actually in orbit and about to make a delivery for the space agency.

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Facebook IPO - New Disclosed share prices value it at up to $95 billion: Renaissance Capital

The social networking leader Facebook has been valued at up to $95 billion (£58.6 billion) after the company has set a price range of $28 (£17) to 35 dollars (£21) per share for an initial public offer (IPO) in a regulatory filing.  

Facebook IPO - New Disclosed share prices value it at up to $95 billion: Renaissance Capital

Facebook's IPO has been regarded as the much-awaited event by experts, not just because of how much money it will raise but because of its worldwide popularity among the internet users. The world's largest online social network has more than 900 million users worldwide.

With the above-stated disclosed price range for IPO, Facebook has becomes the biggest ever valued internet company and its current shareholders could raise as much as 13.58 billion dollars (£8.3 billion). That happens if the underwriters sell extra stock reserved for over-allotments, which they will be expected to do keeping in view the excitement surrounding the IPO.

According to Renaissance Capital - an IPO investment adviser, with an expected number of Facebok shares i.e. 2.74 billion; it’s offering values the company at 76 billion dollars (£47 billion) to 95 billion dollars (£59 billion). 

Present record-holder Google Inc. raised $1.9 billion (£1.2 billion) including the over-allotment for their IPO back in 2004 and Google was valued at $23 billion (£14.2 billion). Google is now worth about $200 billion (£123 billion).

Facebook CEO Mark Zuckerberg, who turns 28 this month, has emerged as a genius leader who's led Facebook through extraordinary expansion from its patchy beginning as an interaction medium for Harvard students.

Facebook's next step is to go on an "IPO road show," where executives talk to potential investors about why they should invest in the stock. On Thursday, Facebook posted a version of its road show online, with appearances from Zuckerberg; the vice president of product, Chris Cox; and other executives.

If all goes well, Facebook's stock is expected to price on May 17 and make its public debut on May 18.

Zuckerberg will keep tight control over the company even after the IPO. He will control 57.3% of the company's voting power, through stocks he owns or because other shareholders have promised to vote his way through shares that they own. This means he will have final say over the biggest decisions facing the company even after it goes public.

Report Tags: Facebook, Facebook IPO, Facebook Value, Mark Zuckerberg, Social Network, Renaissance Capital, Facebook Shares, 95 billion dollar,

Wave: Absolutely Free Online Accounting Software for Small Businesses -- Pros and Cons (Video Demonstration)

Accountancy is a very highly regarded profession. There are millions of the accountants, all thoroughly working away like other professionals to make sure that every cent is accounted for. They keep business moving day-to-day, advise the board of directors and help them to resolve their tax issues.

Wave: Absolutely Free Online Accounting Software for Small Businesses

 As an accounting professional the article written by Joseph Thomas on Allvoices attracted all my attentions and I couldn’t help myself stop reading this informative article but also searching for more information about Wave Accounting software.

Wave is a great online accounting application for small businesses.  There are numerous features that, combined together, make Wave different from other accounting software in the market.

 They (waveaccounting.com) said on their features page, “Made for small businesses and solo entrepreneurs. Accountant approved. 100% free. Wave slashes the time you spend on accounting and bookkeeping, and saves you money every day.”

Wave is the free, easy-to-use accounting software made for small business owners and freelancers. Get back in control of your finances, while saving time and money. Send professional invoices, track expenses, and eliminate accounting headaches.

Powerful yet easy that can provide an accountant space to relax and smile while providing real double-entry accounting, posting journal entries, generating financial reports and much more for a professional accountant.

That’s not all about Wave, rather it is equally effective and practicable for non-accounting persons.

Wave’s most outstanding feature, at least to me, is auto-syncing with your business bank account and credit cards. Once you set up everything with your online banking, Wave syncs regularly even when you’re not online. The result of this is a list of newly imported transactions waiting for you each time you log in. All you have to do is drag each one into a category in either ‘Personal’ or your business accounts. This significantly reduces the amount of manual input you have to do.

In short Wave is all about:

SAVE TIME
• Connect with your online bank and credit card accounts (optional), and eliminate hours of tedious manual data entry: Wave imports all your transactions while you sleep, so you're always up to date.
• The more you use Wave, the smarter it gets, automatically filing your transactions where you want them.

EASY TO USE
• Wave is built for non-accountants, but also includes the tools that will make your accountant smile.
• Powerful yet easy: real double-entry accounting; reports; journal entries and more for the expert user.

100% FREE
• Not just a trial version. Use all of Wave, as much and as often as you want, for free.

MORE FEATURES
• Invoices: create and send unlimited professional invoices.

• At-a-glance dashboards.

• Unlimited collaborators: invite your accountant, bookkeeper, business partner or advisor to work with you in Wave.

• Manage business and personal finances together in the same program, seamlessly. Wave even handles business expenses paid from a personal account, and vice versa.

• No usage limits.

• Free support.

• Sales tax calculations and reports

• Free alternative to QuickBooks and expensive software.

... and much more ...

 Watch live demo of the Wave Accounting application:

Facebook IPO: Social networking giant signs $8 billion credit deal with consortium of banks

PALO ALTO, CA (Fri, Mar. 09) – Social networking website Facebook, has secured credit deal worth $8 billion from a consortium of banks ahead of the social network's eagerly anticipated initial public offering (IPO).

Social networking giant signs $8 billion credit deal with onsortium of banks

According to documents submitted Wednesday with the Securities and Exchange Commission (SEC); Facebook had secured a $5 billion revolving line of credit over three years from a bank consortium including Morgan Stanley, JP Morgan, Goldman Sachs and Bank of America-Merrill Lynch.

Sources in Facebook revealed that the company aims use the facility "for general corporate purposes." In the wake of new arrangement Facebook has terminated the credit facility agreement inked with Barclays Capital and others that granted the company the borrowing capacity of $2,500 million.

The social networking giant also said it had reached a deal with the same group for a $3 billion bridge credit facility to enable it to fulfill a number of obligations related to the initial public offering (IPO).

“This bridge credit facility allows us to borrow up to $ 3 billion to fund tax withholding and remittance obligations related to the settlement of RSUs (Restricted Stock Units) in connection with our initial public offering,” Facebook filing said.

In early February, Facebook filed for its IPO aiming to raise at least $5 billion in the largest stock flotation ever by an Internet company; but figure could grow to $10 billion depending upon the interest of investors.

The Palo Alto, California-based company, founded by Mark Zuckerberg eight years ago when he was just 19, reported net income of $668 million last year, up from $372 million the previous year.

In the documents filed Wednesday, Facebook also said it had now total of 31 underwriters after adding 25 to the existing six ahead of its IPO, expected later this year.

Facebook's value has been estimated at $75 billion to $100 billion.

British-American Carnival Corporation & Plc to suffer losses up to $95 million for sinking Costa Concordia

Official sources of British-American Carnival Corporation & Plc, the parent company of stricken luxury cruise ship Costa Concordia, revealed that the company will have to bear a loss up to $95m by the sinking of plunged ship.

British-American Carnival Corporation & Plc to suffer losses up to $95 million for sinking Costa Concordia

"For the fiscal year ending November 30, the impact to 2012 earnings for loss of use is expected to be approximately $85-$95m or $0.11-$0.12 per share," Carnival said in a statement to the London Stock Exchange.

Though the company would enjoy an insurance coverage for damage to the ship with an approximately $30m.

"The vessel is expected to be out of service for the remainder of our current fiscal year if not longer," the statement revealed further.

The tragedy could hit the company even more severely as its shares already dropped 18% in early trading after the statement mentioning that the loss of earning from the capsizing of Costa Concordia to be between $85m and $95m. 

The cruise ship ran aground near the island of Giglio off the coast of Tuscany on Friday evening, killing six people.

Italian, German, French and British nationals were among the 4,200 passengers on board.