Early Start - News from A to Z

Coming up Thursday

A break down of Romney's 6% unemployment pledge and the latest on the lawsuits circulating around Facebook's IPO. Tune in at 5am ET.

A break down of Romney's 6% unemployment pledge and the latest on the lawsuits circulating around Facebook's IPO. Tune in at 5am ET.

High school seniors suspended for bike ride to school

Sixty-four Kenowa Hills high school seniors were suspended Tuesday just before their graduation after they organized a 3-mile bike ride through town in lieu of a "senior prank."

Their school's principal Katie Pennginton was not happy about the bike parade, saying that it caused major traffic problems and that students could’ve been hurt.

Besides being suspended, the students were also banned from the school’s traditional senior walk, when graduating students say goodbye to their teachers and classmates.

Suspended seniors Cody Nicks and Trevor Galandt, and Cody’s mom Rachel Knicks, join Early Start this morning to talk about the suspension and to explain why they think that the punishment was unmerited.

 

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What's trending for May 23, 2012

Maxim made some interesting choices for its "Hot 100" list this year, which includes accused killer Amanda Knox, cartoon Lois Griffin and funnyman Stephen Colbert.

In the world of comics, Marvel announced that gay X-Man Northstar is marrying his boyfriend Kyle. The news comes one day after DC Comics' announcement that one of its superheroes is coming out as gay.

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Filed under: Trending

MYB: Facebook stock drops another 9% Tuesday

Did Facebook executives advise underwriters from Morgan Stanley to reduce revenue and earnings forecasts for the company before the IPO launched?

In today’s Minding Your Business, CNN's Felicia Taylor discusses Reuters' new report that Morgan Stanley is being subpoenaed by the Massachusetts Attorney General about the information analysts may have given to certain investors about Facebook’s revenue prospects.

Facebook investors are also facing problems this morning, with shares down about $30/share in pre-market trading . Overall, the social network's stock has dropped 19% since the IPO launched on Friday.


Filed under: Minding Your Business

Historic presidential elections in Egypt today – Ben Wedman reports live from Cairo

Millions of people are headed to the polls in Egypt this morning for their first chance to cast a free vote in a presidential election in the country's 5,000 year existence.

Ben Wedman reports live from a voting station in Cairo about how election day is going so far.


Filed under: Egypt

MYB: What is private equity?

The back-and-forth on the campaign trail over Gov. Mitt Romney's record at Bain Capital is back with a vengeance.

Newark Mayor Cory Booker and Newt Gingrich are both getting into the mix talking about private equity and Bain's track record, but exactly what is private equity?

In today's "Minding Your Business," Christine Romans explains that private equity is rich investors, like pension funds, university endowments and wealthy people, pooling their money to invest in things that will make them more money – like companies and new technology.

Often, these investors zero in on failing companies. The private money comes in and does some restructuring, which usually means selling divisions and closing failing parts, while reaping the benefits of the successful elements of the company.

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Filed under: Minding Your Business

SpaceX commercial shuttle makes historic launch

The International Space Station is once again getting supplies from an American shuttle, but this one doesn’t have a NASA logo.

Today at 3:44 a.m. ET, an unmanned dragon capsule, from the commercial space flight company SpaceX, made a historic launch into space.

The shuttle is carrying supplies like clothing and student experiments that will be handed off to astronauts when it reaches the space station in a couple of days.

On Early Start this morning, NASA administrator Charles Bolden says that today is a huge step toward the United States providing its own vehicles to take supplies to the ISS without the help of other countries like Russia.

“It’s fine to rely on partners, but that’s not where the greatest nation in the world wants to be,” says Bolden.

Boulden explains that the launch of the rocket is a joint effort between the SpaceX team and NASA. The idea is that eventually, shuttles similar to the one launched this morning will be able to bring regular people into space.

As for the rumors that the remains of about 300 people, including a former Star Trek actor, are on board the shuttle, Bolden couldn’t comment because he doesn’t know the facts.

“I don’t want to guess and I don’t know very much about it, other than the fact that I think you’re right,” says Bolden.

Woman returns $1,800 found in ATM

When Amanda Allen pulled up to an ATM in Florida, she found quite a surprise: $1,800. While some people may be inclined to keep the money, Allen says she immediately knew that she had to call the police and try to return the cash to it's rightful owner.

“I did what my heart told me to do,” Allen says on Early Start this morning, explaining that the town is filled with hard-working people and she didn't want to take someone else’s hard-earned money.

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Joplin native makes documentary about the tornado that devastated her hometown

Following last year's devastating tornado, Joplin native and documentary filmmaker Erica Tremblay returned to the town to visit her family and friends and to see how she could help rebuild her hometown.

After witnessing the destruction caused by the natural disaster, Tremblay's producing partner suggested that they get together a crew and document the stories of the people she knew.

The documentary "Heartland" is the end result, and Tremblay appears on "Early Start" this morning to discuss her work and to explain the back story behind the film.

Tremblay says that while the film began as a disaster documentary, it quickly turned into a story about the human spirit, and how it heals after tragedy.

While she says that working on the project helped her heal, Tremblay explains that it also kept her in the thick of the disaster every day, reminding her about just how much her neighbors had lost in the tragedy.

MYB: Rough start for Facebook stock

In today's "Minding Your Business," Christine Romans explains that it's been a disappointing start for Facebook's IPO investors.

The company's stock has gone down 19% since the IPO launched last week, and yesterday alone, the stock dropped 11% despite the fact that most other stocks were up.

Romans explains  that for every dollar lost in the stock price, Facebook CEO Mark Zuckerberg loses about $534 million dollars.

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Filed under: Facebook • Minding Your Business

What's next for Chinese activist Chen Guangchang?

Chen Guangcheng arrived in Newark, New Jersey over the weekend with his wife and two children, ending the diplomatic firestorm that erupted after he escaped from house arrest and took to YouTube to complain about abuse he said his family suffered at the hands of authorities.

ChinaAid founder Bob Fu, who was instrumental in getting Chen to the United States, says Chen is dealing with some jet lag but has enjoyed the sunshine and is happy to be in America.

On Early Start this morning, Fu explains how Chen will continue his activism, and explains whether or not he will be in the U.S. permanently.

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Filed under: China
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