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Facebook continues to grow at a meteoric pace with some 400 million people registered with the world’s most popular social networking site. But what Facebook isn’t rushing to do is undertake its eventual transition from a private to a public company. Its 25-year-old chief executive, Mark Zuckerberg, remains steadfast in his stance that a slow approach is in his company’s best interests.

Going Public

In the Mar. 4, 2010 issue of “The Wall Street Journal,” Zuckerberg was reported to say, “we’re going to go public eventually, because that’s the contract that we have with our investors and our employees. We are definitely in no rush.”

When Facebook goes public it could spark a revival in the IPO market for Silicon Valley firms. That market has been relatively quiet over the past few years as a stiff economic downturn and lack of available product has tempered the market.

Facebook Valuation

Still, when Facebook does go public its ultimate valuation could shake the market. As recently as January, Facebook’s estimated valuation was pegged at $14 billion though some have speculated its ultimate worth as being far greater than that amount.

Zuckerberg noted that Facebook doesn’t need the capitalization an IPO would bring at least not yet. The company routinely plans and reviews various new offerings and extensions of its service, but it isn’t in the position to have to choose to do anything because of shareholder pressure.

Zuckerberg seems happy with the delaying the inevitable, perhaps realizing that when change does come it will forever alter his influence with a company he started in a Harvard dorm in 2004.

Virus Laden?

With its unheard of growth, Facebook users have faced numerous problems particularly when it comes to viruses, worms, trojans and other nasty surprises. Applications accessed through Facebook itself are usually safe, but users often mistakenly look around the internet for downloads learning later on that their computers have been infected, sometimes infecting other Facebook users in the process.

In an article appearing on the instructional eHow.com website, computer pro JE Meyer offered tips on “How To Kill A Facebook Bot,” outlining steps every computer user who frequents Facebook should take. That approach includes downloading and using a three product cocktail: Malwarebytes, SuperAntiSpyware, and Avast to knock viruses, worms, trojans, key loggers and other pests from their systems.

Problems or not, Facebook is changing the way that we communicate. Lots of people have given up their blogs and no longer use email, preferring to conduct most of their online activity via Facebook. In effect, Facebook is their computer access, bypassing mostly everything else including Google Search.

Tags: Facebook, Google, Harvard, IPO, Mark Zuckerberg, social networking, The Wall Street Journal

Putting off retirement for valid reasons

Some employees long for the day when the shackles of work have finally been removed from them. For most people that event comes by the time they reach age 65, the traditional retirement age for Americans.

Distant Dreams

But dreams about retiring are just that for many who are approaching retirement as a recent survey by the employment site, CareerBuilder, revealed that more than 70 percent of people are postponing it. Moreover, as a clear sign pointing to the times in which we live, their reasons usually are just about the same: financial.

Harris Interactive conducted the survey on behalf of CareerBuilder in November 2009 interviewing hiring managers and people nearing retirement to arrive at their findings.

72 percent of employees say that they are putting off retirement because they can’t afford to quit work yet. With the financial market meltdown of September 2008 having a major impact, many would be retirees know that their depleted retirement accounts and other savings just aren’t enough to sustain them over the final chapters of their lives.

Other Reasons

Finances are an important factor in the retirement plans on those surveyed, but CareerBuilder identified some other reasons why workers plan on staying on the job including:

• They either enjoy their job or enjoy where they work and don’t want to leave it (71 percent)
• Plan to stay because they need the health insurance and additional benefits provided (50 percent)
• Fear that their retirement may just be boring (24 percent)
• Enjoy feeling needed (15 percent)

“The economy continues to cast doubt in the minds of mature workers regarding executing on their future retirement plans. As a result, they are requesting to stay with employers a bit longer,” said Jason Ferrara, senior career adviser at CareerBuilder. “Twenty-seven percent of hiring managers say they were approached about postponing retirements last year and were open to retaining mature workers. The key is to let your employer know sooner than later that you would like to put off your plans to leave.”

Career Planning

In addition to the survey findings, CareerBuilder’s site for mature workers—PrimeCB.com—offers tips for mature workers including encouraging employees to talk with their Human Resources department to map out a strategy for their remaining time on the job.

What is more, you may want to remain flexible by considering taking another job in the company if you already announced your retirement and have reversed course. Work on becoming a top networker if you are considering transitioning to a new job outside of the company and, lastly, mentor internally and externally to demonstrate your human capital and experience.

Tags: Career Planning, CareerBuilder, Harris Interactive, Human Resources, mature workers, mentoring, networking, PrimeCB.com, Retirement

Money losing government enterprise
paints bleak future for itself

The United States Postal Service (USPS) is a perennial money loser despite raising rates annually and attempting to get its costs under control. Tasked with delivering mail to every address in the nation, the USPS is a bloated government bureaucracy finding itself unable to compete in an age where digital technology and private enterprise have figured out ways of doing what it does faster, cheaper and smarter.

Earlier this week Postmaster General John E. Potter presented a ten-year plan for the USPS to stave off a projected $238 billion short fall over that time. His plan includes aggressive cost cutting including taking as many as 50 possible actions to help the USPS turn a profit. But before the postal service can institute change it must receive permission from its eleven member board of governors, nine of whom are appointed by the president of the United States. The USPS receives its authority from the US Constitution, but has been financially independent since the early 1980s.

“The crisis we’re facing gives us an historic opportunity to make changes that will lay the foundation for a leaner, more market responsive Postal Service that can thrive far into the future,” Potter said, stressing that there is no one single answer or quick fix to the crisis.

Over the next ten years, the USPS sees a further 37 percent drop in first class mail service, its bread and butter business. But even if their internal trimming continues apace, the postal service estimates that it will still come up short by at least $115 billion. Therefore, the Postmaster General has suggested that several deeper cuts take place including:

• Adjust delivery days. Currently, mail is delivered Monday through Saturday at residences, Monday through Friday to most businesses. Some critics have proposed eliminating either Saturday or Monday delivery.

• Restructure benefits. Health care and pension benefits for USPS employees are among the most generous in the nation. Changing these benefits to line up with the rest of the industry will bring about significant savings.

• Modernize access. Instead of relying on brick and mortar post office buildings, the USPS might utilize grocery stores, retail centers and other high trafficked areas to reach their customers.

• Flexible workforce. With tens of thousands of employees set to retire over the coming decade, the USPS may be able to scale back itself back while also cross training employees to take on other tasks.

• New products. Though not outlined in the plan, the postal service could introduce new products consistent with its business.

Potter said that the business plan is a path to the future, one where the USPS plays an important role in the American economy, while remaining an integral part of every American community and delivering the greatest value of any corresponding post service in the world.

“If given the flexibility to respond to an evolving marketplace, the Postal service will continue to be an integral part of the fabric of American life,” Potter said.

Source: U.S. Postal Service

Tags: post office, Postmaster General, U.S. Mail, U.S. Postal Service, USPS

All fifty US states and six territories and the District of Columbia are participating in a federally funded appliance rebate program, one that has its roots in the American Recovery and Reinvestment Act of 2009 also known as the $787 billion stimulus program. These states and territories have been allowed to create their own rebate programs with all 56 plans now approved by the U.S. Department of Energy (DOE).

Traffic Flood

Yesterday, Minnesota and Iowa were among the first states to launch their programs and although different from each other the result was the same: related websites were flooded with traffic, crashing servers while also swamping phone lines as consumers sought additional information. In the Mar. 1, 2010 issue of the “Dubuque Telegraph Herald,” the Iowa Office of Energy Independence said that their website was down most of the morning while their toll free number was temporarily inoperative. Residents were being urged to try both methods later in the day.

According to the DOE, rebates are being funded with $300 million from the stimulus act. Eligible consumers can receive rebates to purchase new energy-efficient appliances when they replace used appliances, though the appliances to be covered vary from program to program.

Recycling Programs

Most rebates range from $50 to $250 and cover a wide range of appliances including refrigerators, stoves, dishwashers, hot water heaters, furnaces, heat pumps, freezers and more. Some programs limit the covered appliances while others cover all ten as recommended by the DOE. In order to qualify for a rebate, the new appliance must replace an old appliance. The DOE is encouraging states to create their own recycling program for the older units.

Each program has a base funding of $100,000 with some states receiving far greater funding. American Samoa, for example, is receiving the $100,000 minimum while our largest state, California, will receive more than $35 million. And although states can keep their programs active until February 2012, most are expected to run out of funds quickly, perhaps in as little as two weeks.

For more information about the program in your state and covered appliances, please visit the DOE website and click on your respective state’s program information.

Tags: American Recovery and Reinvestment Act of 2009, appliances, ENERGY STAR, rebates, stimulus program, U.S. Department of Energy