Facebook to the rescue of California's economy

At the end of the day, it was very little what rose Facebook shares on the stock exchange.

The sale of shares of Facebook was the most anticipated event of the day, although in the end some market operators considered that it was much ado about nothing.

The debut on stock exchange of the social network should create hundreds of billionaires and turn to its founder, Mark Zuckerberg, in one of the richest men in the world.

When they started operations in New York, actions were available to the public at US$ 38 each. They came to US$ 42 to return down to little more than their original value, culminating with a disappointing day for Wall Street and other markets.

Either way, expected that transactions generated between $16 billion and $18,000 million, in the third public sale in the history of United States.

Not bad for a small idea dreamed in a Harvard dormitory for eight years, that now has 900 million followers worldwide and a value of well over $100,000 million.

Those who are selling aren't the only ones who makes water mouth at the prospect of all that money.

California is counting on Facebook to help reduce a huge budget deficit.

The expected actions of Facebook were available at US$ 38, with which the company was valued at US$ 104,000 millonesCon drums and cymbals, Mark Zuckerberg made the symbolic opening of the transactions of the Nasdaq in Menlo Park, CaliforniaAl stock market home operations, shares climbed 12% to US$ 42, 55Finalmente stabilized the price a little more than the originalUS$ 38,23, with a modest gananciaLa disappointing day ended with all stock indices of Wall Street downward, as well as in Europe, closing a week of bad for stock markets.

"Our calculations indicate that California is in line to collect a US$ 2 billion of additional tax in the year, only as a result of the transaction of Facebook," says Jason Sisney, of the Office of the legislative analyst for the State.

"That is far from solving the problem of the California budget, but it is a help, and Facebook and now the technology sector in general are a true beacon of light for the State's economy".

The Governor of California, Jerry Brown, announced this week a budget deficit of almost $16 billion for the coming year.

The State is cutting social services already abused and spending in education and even with the injection of Facebook continues to hope that voters will support a plan to increase taxes on the rich.

Scheduled generated some US$ 6,000 million only by company and Zuckerberg will keep a majority on the big decisions control, owning more than 50% of the voting rights.

He wants Facebook to grow further to seize the Chinese market and to find ways to make advertising more profitable.

Advertisers love the amount of people they have access, and lots of personal information that people share, allowing them to target ads specifically.

Still not proven that advertising on Facebook correspond with sales, but the potential for success is what has raised the value of the company.

The headquarters of Facebook in Silicon Valley was the home of Sun Microsystems, in a place called Menlo Park, which is already enjoying the new tenants.

"This brings a lot of great benefits to Menlo Park," said the Mayor of the city, Kirsten Keith.

Facebook does not generate any income tax on sale, so the City Council came to an agreement whereby the company paid US$ 800,000 per year over the next five years to replace the tax on sale, and even more in the following years.

Facebook is planning to expand its headquarters in Menlo Park.

"There is a single payment of $1,100 million for capital improvement projects, and many other benefits that include $500,000 in EU subsidies and have attended schools, taking computers and voluntary work," said Keith.

There are plans for more jobs and an expansion of the headquarters.

"It's having an amazing company in your community that attracts more amazing companies because you people want to be close to Facebook;" "this place has the hustle and the environment," added Keith.

It is a hustle and bustle which has consequences unforeseen in the real estate market; property in Silicon Valley is among the most expensive in California.

"The last time I checked the data looked like that the capital gains rate was about 20% more than a year ago, which is quite significant," said Robert Gerlach, the Agency Alain Pinel Realtors in Palo Alto.

He deals with properties from $500,000 to several million and said that the cash - even - does not go very far in Silicon Valley.

"We have had public offerings of sales before, so this is not a new phenomenon for us;" for example, when Google went public, there were a lot of people looking for houses to buy.

"Facebook this has been so for some time, since many employees were able to borrow with your actions sooner."

"So we are not expecting the company out to bag that people run everywhere with money;" "some of these people already bought their homes".

Gerlach ensures that much of the increases in the prices of the houses also has to do with foreign investors and money that comes Russia or Asia.

Being home to the headquarters of Facebook has given to Menlo Park a new dimension, according to the Mayor of the city.

The extra money in circulation is also good news for financial advisers.

"Many of the people who worked on Facebook has a strong financial background, so they definitely need guidance", says wealth manager John Hillis, in San Jose.

His advice for the new rich is: leave to return calm about six months to clarify your mind and decide what to do with your money.

"Then begins a systematic diversification outside Facebook or program of the company in which you're getting a portfolio that will reduce the risk of any disaster and ensure your future", he adds.

A good recommendation if suddenly you wake up one day and discover that you are a billionaire.

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