We knew Groupon was growing fast, but we didn't know how fast.
Figures the company disclosed in its IPO filing yesterday detail Groupon's astonishing rise. They also reveal how much the company has been spending to fuel its growth.
Groupon brought in more than half a billion dollars in the first three months of this year. But it spent even more than that, reporting a net loss of nearly $150 million.
The Labor Department on Friday offered startling evidence that the U.S. economy is slowing, hampered by the high cost of gasoline and supply chain issues related to the earthquake in Japan that have hurt U.S. manufacturers.
Employers hired only 54,000 new workers in May, the fewest in eight months, and the unemployment rate rose to 9.1 percent.
The pace of hiring has weakened dramatically from the previous three months, when the economy added an average of 220,000 new jobs. Private companies hired only 83,000 new workers in May — the fewest in nearly a year.
"Dr. Jack Kevorkian, the Michigan pathologist who put assisted suicide on the world's medical ethics stage, died this morning between 2 a.m. and 2:30 a.m., said his lawyer Mayer Morganroth." (Detroit Free Press)
A three-inch lizard scuttled into the spotlight in December after the U.S. Fish and Wildlife Service proposed moving it onto the Endangered Species List. The dunes sagebrush lizard's habitat covers just eight counties on the Texas-New Mexico border, right in the heart of the Permian Basin, a major oil-producing region. Particularly in Texas, industry leaders and local businesses see the action as hostile — another Obama administration environmental policy targeting their successful, energy-sparked economy.
-- The unemployment rate edged up to 9.1 percent from 9.0 percent in April. It had been expected to hold steady or perhaps even edge down a tenth of a point.
-- There were only 54,000 jobs added to businesses' and government payrolls, well below the 150,000 or so that had been forecast and nowhere near the pace needed to reduce unemployment.
We must note that today is the 73rd National Doughnut Day — a celebration of tasty goodness that honors the work done by the Salvation Army and the "lassies" who made doughnuts for soldiers in World War I and World War II.
If you hit a Dunkin Donuts, Krispy Kreme and some local stores, there could be a free doughnut for you (Dunkin Donuts requires a beverage purchase; Krispy Kreme does not). And Salvation Army workers may be on hand to take donations.
Prior to joining The Nation, George Zornick was Senior Reporter/Blogger for ThinkProgress.org.
Campaign fundraisers are already at work on the upcoming presidential election — Obama 2012 is soliciting donations, and Republican candidates like Tim Pawlenty are spending more time meeting donors than voters.
As we've already reported, there's word from The Hague that former Bosnian Serb general Ratko Mladic made his first appearance before a U.N. war crimes court today. A defiant Mladic rejected what he said are the "obnoxious charges" against him. He's accused of ordering the deaths of thousands during the wars that ripped apart the former Yugoslavia in the '90s.
At least 17 people were killed and 50 others injured Friday in an explosion at a Sunni mosque in Iraq.
According to police sources, a jerry can filled with a highly explosive material was detonated near the mosque in a highly fortified area in the city of Tikrit as worshippers were leaving after Friday prayers. Two provincial council members and a police colonel were among the wounded.
Ever wondered why mosquitoes seem to be attracted to some people, while others never get bitten? Scientists say mosquitoes flock to people wearing dark clothes, those who move around a lot and pregnant women. Plus, new research shows mosquitoes are attracted to people drinking beer.