flotation
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Report: GAME preparing to rejoin stock market
2012 wasn't kind to retail chain Game - after closing more than 200 stores in the UK and Ireland, shuttering its Australian division, filing for administration (bankruptcy) and getting delisted from the stock exchange, its operations were purchased by sister investment companies. Luckily for GAME, it appears to have phoenix-like qualities - Sky News reports that the company is planning on rejoining the stock market. The effort will supposedly consist of a £300 million flotation later this year, which would involve selling shares of the company to the public. The move would suggest a strong performance from the retailer during both the holiday season and the launch of the Xbox One and PlayStation 4, with the former doubling the Xbox 360's UK debut and the latter moving 700,000 units in Europe and Australia by December.
Facebook allowed to triple size of its HQ, pays $10 million for the privilege
Swollen with cash following its IPO, Facebook is looking to expand its headquarters in Menlo Park. Its plan to triple its workforce there from 2,200 to 6,600 people was approved by local officials last night, removing the previous cap that allowed a maximum of 3,600 messy, resource-consuming humans. In lieu of the added burden on the city, Facebook will have to contribute $850,000 per year for ten years, plus a one-time payment of $1,000,000. The start of a surge towards greater products and profits, or the beginning of a complacent corporate decline? We'll let the stock market decide.
