Facebook Takes a Dive: Why Social Networks Are Bad Businesses

The business of having online sites with content created by amateurs to be viewed by other amateurs never had a reasonable chance of making money. The fact that at one point Facebook had a $15 billion valuation, that Rupert Murdoch’s News Corp bought MySpace, and that Google bought YouTube only proves the “greater fool” theory. YouTube was started in 2005 and MySpace in 2003

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John King: Obama’s political team on full throttle

It was an extraordinary Sunday, reflecting the many challenges facing the still young Obama administration. (CNN) — It was an extraordinary Sunday, reflecting the many challenges facing the still young Obama administration. Why extraordinary Traditionally, when an administration –Republican or Democratic — offers up the president for a Sunday interview, the other programs are left without senior administration guests.

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IOC scraps global torch relay for 2012 Games

The Olympic torch relay for the 2012 London Games will be confined to Britain, organizers confirmed on Friday. The past two summer Olympics have seen the torch taken on a world tour, but the experiment, started for the Athens Games in 2004, has now been scrapped. It follows the widespread political protests which disrupted the passage of the torch ahead of last year’s Games in Beijing.

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President Obama’s ‘Persistent’ Press Conference: Message Accomplished

The first rule of the political press conference: You don’t really have to answer the question, or at least you don’t have to dwell on it. You can simply say what you came to say. This is even more true when you are a popular President of the United States.

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CIA chief arrives in Pakistan

Leon Panetta, director of the CIA, arrived in Pakistan on Saturday morning, a Pakistani Interior Ministry official said. Khamenei said a change in rhetoric is not enough, and Washington must practice what it preaches, according to the English-language Press TV channel in Iran. He also promised that Iran will change its policy if the United States does so as well, Press TV reported.

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