Midday News Recap: Google Inc, Facebook Inc, Las Vegas Sands Corp


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NYSE:LVS / NASDAQ:FB
11/27/2012 [ACCESSWIRE]

NEW YORK, November 27, 2012 –  Csrnewsdaily.com  Is announcing Investment Highlights on Google Inc, Facebook Inc, Las Vegas Sands Corp.

According to data compiled at the Center for Responsive Politics (CRP), Google Inc(NASDAQ:GOOG) spent more on US lobbying efforts than any other technology company in the U.S.

In 2012, Google spent over $7 million more than Microsoft in lobbying the US government on issues related to patent, antitrust, and telecommunications.

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According to Nick Nyhart, chief executive and president of The Public Campaign, a non-profit campaign reform group, "As the tech companies have grown, and eat up a larger amount of the country's GDP, they moved to the kind of activates that the oil companies, the banks, and the pharmaceutical companies have done for years." "And that is to protect their interests and advocate the policies that help their bottom line."

Last year, computer and internet companies spent more than $126.8m on lobbying, while in 2010, they spent $122.9 million.

Meanwhile, in the light of social media giant Facebook Inc(NASDAQ:FB)’s plans to replace its user voting system with one that looks at high-quality feedback, a couple of privacy groups have opposed the proposal citing user data vulnerability. The changes will be applied to the Statement of Rights and Responsibilities and data policy. 

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In their letter to Mark Zuckerberg, Jeffrey Chester, President of The Center for Digital Democracy and Marc Rotenberg, President of the Electronic Privacy Information Center, said, “These proposed changes raise privacy risks for users. We urge you to withdraw the proposed changes.”

Many users have also expressed concern, and regulators in the European Union have sought more information about the changes.

According to Facebook, the votes in the existing system do not provide any substantial information. “We found that the voting mechanism, which is triggered by a specific number of comments, actually resulted in a system that incentivized the quantity of comments over their quality.”

How Facebook handles the issue remains to be seen.

Meanwhile casino operator Las Vegas Sands Corp.(NYSE:LVS) has announced a special dividend of $2.75, which is payable on Dec. 18 with the record date being Dec. 10. The company which runs casinos in Las Vegas, Pennsylvania, Singapore and Macau will distribute about $2.26 billion to its shareholders.

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Chairman Sheldon Adelson, who is also the majority shareholder, said returning capital to shareholders is a priority for the company. He will receive $1.19 billion from the special dividend payment.

Come 2013, dividends will be taxed as ordinary income, rates depending on the tax payer’s income bracket. So many companies are on a dividend-paying spree. 

Las Vegas Sands shares jumped over 5%.

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