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TWITTER came up with a business that allows people send out information quickly. The micro-blogging service sent out just one tweet on September 12th informing the world it had filed the required IPO papers confidentially with America's Securities and Exchange Commission (SEC) when it came to its initial public offering (IPO) but then there was silence. Normally it is mandatory to all companies to publish information regarding them right after they have submitted their initial IPO documents to the SEC. However Twitter took benefit from provision in America's Jumpstart Our Business Start-ups Act-or JOBS Act for short-that permits "emerging growth companies" to kick off the IPO process confidentially. They should be able to publish the IPO earlier than three weeks before they proceed on investor road shows to advertize shares. The act characterizes promising growth firms as ones with less than $1 billion of yearly revenue. The JOBS Act became law in April 2012. It is by giving some companies the option of filing for an IPO in secret that aims to encourage more flotation. According to the SEC, by the end of June 2013 roughly 250 companies in America had filed IPO documents confidentially. For many reason this approach appeals to Twitter. The firm anticipates that by maintaining its financial performance confidential for a while, and then heading fast to a listing, it can keep away from the kind of hype that surrounded Facebook's IPO in 2012. Although Twitter must reveal its correspondence with the regulator when it finally publishes its IPO documents it can also address any concerns the SEC has about its submission in private. It is hopeful to shun the fortune of Groupon, which exposed particulars of its finances immediately after it filed for an IPO in 2011. Several of the firm's accounting rules were openly questioned by the SEC, which frightened investors. There are other advantages too. If it wishes to, Twitter must only publish two years of audited f

Leading Scientists Explain: http://crowncapitalmngt.com/ Scientists have long predicted that climate change would bring on ever-worsening droughts, especially in semi-arid regions like the U.S. Southwest. As climatologist James Hansen, who co-authored one of the earliest studies on this subject back in 1990, told me this week, "Increasingly intense droughts in California, all of the Southwest, and even into the Midwest have everything to do with human-made climate change." Why does it matter if climate change is playing a role in the Western drought? As one top researcher on the climate-drought link reconfirmed with me this week, "The U.S. may never again return to the relatively wet conditions experienced from 1977 to 1999." If his and other projections are correct, then there may be no greater tasks facing humanity than 1) working to slash carbon pollution and avoid the worst climate impact scenarios and 2) figuring out how to feed nine billion people by mid-century in a Dust-Bowl-ifying world. Remarkably, climate scientists specifically predicted a decade ago that Arctic ice loss would bring on worse droughts in the West, especially California. As it turns out, Arctic ice loss has been much faster than the researchers - and indeed all climate modelers - expected. And, of course, California is now in the death-grip of a brutal, record-breaking drought, driven by the very change in the jet stream that scientists had anticipated. Is this just an amazing coincidence - or were the scientists right? And what would that mean for the future? Building on my post from last summer, I talked to the lead researcher and several other of the world's leading climatologists and drought experts. First, a little background. Climate change makes Western droughts longer and stronger and more frequent in several ways, as I discussed in my 2011 literature review in the journal Nature: Precipitation patterns are expected to shift, expanding the dry subtropics. Wha