The Securities and Exchange Commission announced Wednesday the punishment for Nasdaq’s mishandling of Facebook’s initial public offering: a record $10 million fine, the largest penalty paid to the SEC by an exchange. Nasdaq came under fire for several mishaps, such as failing to send trade confirmations to investors.
“There are Facebook employees we’ve never met,” Chief Operating Officer Sheryl Sandberg said in response to a question about Yahoo’s recent announcement that it would eliminate telecommuting as an option for its employees, but that was one of the few times Sandberg discussed the social network during a fireside chat Monday evening with Time Deputy Managing Editor Nancy Gibbs to introduce her book that was released earlier that day, Lean In: Women, Work, and the Will to Lead.
Newton Lee’s book, Facebook Nation: Total Information Awareness, is a great book for social media experts, offering a comprehensive look at Facebook in the context of social media, and covering privacy well.
While brands are in a love/hate relationship with Facebook, many users are firmly displeased with the social network, and it shows in the latest American Customer Satisfaction Index ratings. Facebook scored the lowest out of any social networks (with Google Plus at the top), and it earned one of the lowest overall scores of any company.