Oleg Zabluda's blog
Wednesday, May 23, 2012
 
Back in USSR, pupils in grades 1-10 had a so-called day-book (дневник) where a teacher would write down grades and...
Back in USSR, pupils in grades 1-10 had a so-called day-book (дневник) where a teacher would write down grades and reprimands for bad behavior (замечания про плохое поведение), and the parents had to sign that they read it all. Here are some of mine (from memory, grammar preserved):

Лазит в школу через забор (1-й класс)
Махал линейкой перед лицом товарища. (2-й класс)
Не пускал учительницу в класс (3-й класс)

Translations:

Climbs to the school over a fence. (2nd grade [1])
Swinged a ruler in front of his comrade's face. (3rd grade)
Wouldn't let the teacher into the classroom. (4th grade)

[1] In USSR, grades were 1-10, 7-17 years old. In USA, it's 1-12, 6-18 years old.

If you want the stories behind any of them, ask.

http://xfraz.info/dnevniki/zamechaniya-v-dnevnike/
http://bessonov-perm.livejournal.com/714955.html
http://otvali.ru/photos/za_chto_vam_v_dnevnike_stavili_neudovletvoritelnoe_povedenie_foto:57090.html
https://www.google.com/search?q=дневник+поведения&tbm=isch
http://bessonov-perm.livejournal.com/714955.html

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- posted by Oleg Zabluda @ 12:03 PM | permalink | | | technorati | bloglines | feedster
 
Facebook IPO was at $38, went up to $42, and is now settled at $31.
Facebook IPO was at $38, went up to $42, and is now settled at $31.

Facebook raised $16G, and was driving hard bargain with the bankers, giving them only 1.1% in fees, or measly $170M [1].

Underwriter syndicate bought 421M shares from Facebook for $37.582 (=$16G) and sold them for $38 (+1.1% or $170M). However, the actually sold 484M (15% more) shares for $38.00, which would make them $202M, if the stock went up and they covered it with the Greenshoe option at $37.582 from the insiders, who then wouldn't have to wait for lock-up period to expire [2].

What's Greenshoe option? Glad you asked.

http://news.ycombinator.com/item?id=3996288
http://en.wikipedia.org/wiki/Greenshoe
http://dealbreaker.com/2012/05/company-sells-stock/
http://dealbreaker.com/2012/05/facebook-ipo-goes-nowhere-in-exciting-fashion/
http://dealbreaker.com/2012/05/this-is-a-post-about-greenshoes/
http://blogs.reuters.com/felix-salmon/2012/05/21/morgan-stanleys-2-4-billion-facebook-short/

http://www.bloomberg.com/news/2012-05-18/facebook-underwriters-to-split-about-176-million-in-ipo-fees.html

[1] Morgan Stanley 40% JPMorgan 20 percent, Goldman Sachs 15%, ...
[2] If the short position was covered at $31 instead of $38, as it likely have happened, the profit would be (484 - 421)*(38 - 31) = $441M. The reason not to do it is not to very publicly screw up the clients and the company during a high-profile IPO.
http://dealbreaker.com/2012/05/this-is-a-post-about-greenshoes/

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- posted by Oleg Zabluda @ 10:59 AM | permalink | | | technorati | bloglines | feedster

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