SA’s National Treasury says the $2bn it has committed to the International Monetary Fund’s (IMF’s) more than $430bn firewall fund will be in the form of its foreign reserves‚ and will be drawn down only if needed and only after other resources have been depleted.
Daily Archives: June 19, 2012
Photo by: www.airliners.net
The easyGroup tycoon, who is embroiled in a long-running boardroom battle with easyJet, is backing a carrier that will operate under his Fastjet airline and be run by former easyJet executives.
Fastjet will operate from Kenya, Tanzania, Ghana and Angola. The ambition is to carry more than 12 million passengers a year, from the 500,000 at present, by cashing in on demand for regional travel from a burgeoning African middle-class.
EasyJet remained tight-lipped about the move, referring queries to a statement made last year that said the Luton-based airline would take “necessary action” if Fastjet infringed its rights.
However, Ed Winter, Fastjet’s chief executive-in-waiting and formerly easyJet’s chief operating officer, said the airline would avoid antagonising its European peer. “We have been 100% careful. We are absolutely aware of the agreement, and so is Stelios, and we are not infringing it in any way,” he said.
Under the terms of Wednesday’s announcement, an Aim-listed cash shell company called Rubicon has bought the aviation arm of Lonrho, an ancestor of the pan-African conglomerate formerly run by Tiny Rowland, in a deal worth $85.7m (£55m).
As part of the deal, Easy Group will own 5% of Rubicon, and the airline will use Lonrho Aviation’s network. It will operate from the Lonrho hubs in the four African countries. Operating as Fly 540, Winter said a 12-million passenger target was feasible.
“If you take the four countries, they have a total population of 100 million people. If you estimate that all our customers come from just those countries alone, you could see three million of them becoming customers with us, flying a couple of times a year. That would generate something like 12.8 million passengers [annually].”
Winter said Fastjet would launch towards the end of the summer but not use its fleet of 10 turboprops and small jets. Instead it would seek to lease larger modern jets like the Boeing 737 or Airbus A319.
Barack Obama, the US president, arrives at Los Cabos for the G20 summit.
“China is confident that the IMF will realize its $430bn and China will pitch in,” Mr Zhu told reporters as national delegations began to arrive at the luxury hotels lining the Los Cabos coastline.
The UK has pledged a further $15bn to the IMF, after Christine Lagarde revealed that member states had promised a total of $456bn for its new crisis fund.
China will contribute $43bn, state news agency Xinhua confirmed on Tuesday morning.
They held back two months ago when the IMF solicited commitments at its spring meetings in Washington and only gathered a firm $340bn.
That was well below the $500bn the Fund’s own economists had said would be an adequate expansion of its crisis intervention funding, given the potential of more contagion in the troubled eurozone.
The largest economy, the US, is not contributing, despite its huge voting power on the IMF board.
While Washington has insisted Europe has enough resources to resolve its problems itself, it is also clear that the deeply divided Congress is in no mood, given the US economic problems, to contribute rescue funds for others.
JUST like every other family, the G20 has its tiffs.
British PM David Cameron is holding little back in his criticism of the eurozone governments, raising fears of the region slipping into “perpetual stagnation or break up”.
US President Barack Obama stated the obvious when he said the world was “very concerned” about the slowing of growth and now was the time to stabilise the world financial system.
German chancellor Angela Merkel, Italy’s Mario Monti and European Commission chief Jose Manuel Barroso were on the defensive as they entered the summit.
Mr Barroso was blunt about the criticism: “Frankly, we are not coming here to receive lessons in terms of democracy or in terms of how to handle the economy.” Mr Monti argued the EU was not the “only source of the problem”.
What looks more certain in terms of a eurozone solution are some fine words followed by a deferral to coming talks between European leaders and finance ministers. Trade issues, which are also a key part of the regular summits, are also being talked down.
WIZARA ya Fedha imesema, Serikali ina lengo la kupunguza misamaha ya kodi ili isizidi asilimia moja ya pato la taifa.
Naibu Waziri wa Fedha, Saada Mkuya Salum ameliambia Bunge mjini Dodoma kuwa, Serikali inaendelea kupitia baadhi ya sheria za misamaha ya kodi ili kuangalia kama bado zina manufaa kwa umma.
Amesema, ili kutimiza azma hiyo, Mamlaka ya Mapato (TRA) kupitia mfuko wa dhamana wa ushauri wa sera na usimamizi wa kodi ulioanzishwa na Shirika la Fedha la Kimataifa (IMF) inafanya uchambuzi wa kina wa kuangalia sheria na kanuni za misamaha ya kodi.
Kwa mujibu wa kiongozi huyo wa Serikali, uchambuzi huo utaleta mapendekezo ya kuiondoa misamaha yote isiyo na maslahi na tija kwa taifa.
Salum amesema, mwaka ujao wa fedha, Serikali imechukua hatua za kurekebisha sheria mbalimbali za kodi kwa nia ya kupunguza misamaha na kuzuia mianya ya ukwepaji kodi.
Alikuwa akijibu swali la Mbunge wa Viti Maalumu Amina Abdulla Amour (CUF) aliyetaka kufahamu ni lini Serikali itapunguza misamaha yakodi hadi kufikia chini ya asilimia moja ya pato la taifa kutokana na kuwa kero kwa muda mrefu kwa taifa kukosa fedha na mapato kwa ajili ya maendeleo.
“Sisi pale wizarani tumeamua kulivalia njuga suala hili, tutaifanya kazi hiyo na tunaomba tupewe muda kwani jambo hili haliwezi kufanyika kwa mara moja,” alisema.
Wakati huo huo, Salum alisema Benki ya Wanawake inaweza kushiriki katika mpango wa kukopesha na kusimamia fedha za mabilioni ya Rais endapo inahitaji kufanya hivyo na taasisi zingine za fedha ambazo zimekidhi vigezo vilivyowekwa.
Alitaja vigezo hivyo kuwa ni pamoja na uwezo wa kuhudumia vijijini, kuwa na mizani nzuri za hesabu na uzoefu katika kuhudumia wajasiriamali wadogo.
Alisisitiza kuwa walengwa wa mfuko wa mabilioni ya Rais ni vijana, wazee, wanawake vijijini na mijini ambao wanafanya shughuli katika kuhudumia wajasiriamali wadogo.
Alikuwa akijibu swali la Mbunge wa Viti Maalumu Faida Mohamed Bakar (CUF) ambaye alihoji kama Serikali inakubaliana naye kwamba sasa ni wakati muafaka wa kuhamisha fedha za mkopo wa mabilioni ya Kikwete na kutumika katika Benki ya Wanawake ili wananchi wapate mikopo.
Wakati huohuo, Kamati ya Kudumu ya Bunge ya Fedha na Uchumi, imeafiki maeneo mengi ya kodi na tozo mbalimbali yaliyopendekezwa na Serikali kufanyiwa marekebisho, lakini ikasisitiza umuhimu wa nidhamu ya matumizi ya Serikali na uwezo wa kuongeza mapato.
Mbali na hayo, Kamati hiyo ilieleza kutoridhishwa na Serikali katika kasi ya kushughulikia misamaha ya kodi.
“Kamati inaishauri Serikali kuonesha dhamira ya kweli kufanikisha lengo hilo (la kuimarisha taratibu za kukusanya mapato pamoja na kupunguza misamaha ya kodi) na kutoa taarifa ya utekelezaji mbele ya Kamati Januari 2013,” amesema Mwenyekiti wa Kamati hiyo, Andrew Chenge.
Chenge alikuwa anawasilisha taarifa ya Kamati yake kuhusu hali ya uchumi wa Taifa kwa mwaka 2011 na Mpango wa Maendeleo wa Taifa kwa mwaka 2012/13 pamoja na tathimini ya utekelezaji wa Bajeti ya Serikali kwa mwaka 2011/12 na mapendekezo ya mapato na matumizi ya Serikali kwa 2012/13.
“Kamati inaendelea kushauri kwamba Serikali iachane na mtindo wa kuibua matumizi mapya yasiyo ya dharura ambayo hayakuidhinishwa na Bunge wakati wa utekelezaji wa bajeti”
“Mtindo huo unavuruga bajeti na kupunguza uwezo wa kutoa fedha za matumizi mengineyo (OC) na matumizi ya maendeleo kama ilivyokusudiwa. Kamati inasisitiza umuhimu wa Serikali kubana matumizi kwa kupunguza matumizi yasiyo ya lazima,” amesema Chenge.
WAKATI Serikali ikithibitisha kugundulika gesi yenye futi trilioni tatu za ujazo Mashariki mwa Lindi, imesema katika miaka mitatu ijayo, itatumia gesi kuzalisha umeme, kutumika majumbani na kuuzwa nje ya nchi.
“Kwa kweli tuna gesi ya kutosha sana … mipango ya Serikali ni kwamba katika miaka mitatu ijayo, tutazalisha gesi kwa ajili ya umeme, majumbani na viwanda vya mbolea,” alisema Waziri wa Nishati na Madini, Profesa Sospeter Muhongo, wakati akizungumza na waandishi wa habari ofisini kwake mjini Dodoma kuhusu ugunduzi wa gesi asilia nchini wiki hii.
“Napenda sasa kuutangazia umma kuwa Juni 13, 2012, Kampuni ya Statoil ya Norway kwa kushirikiana na ya Exxon Mobil ya Marekani, ziligundua na kuthibitisha kuwapo kwa gesi yenye ujazo wa futi za ujazo trilioni tatu katika kisima cha Lavani kitalu namba mbili Mashariki mwa Lindi,” alisema Profesa Muhongo.
Amesema, hadi sasa gesi asilia iliyogundulika kwenye maji ya kina kirefu ni futi trilioni 20.97 za ujazo, huku Tanzania ikiwa imejaaliwa kuwa na gesi ya kutosha.
Imesisitiza kuendelea kutoa msukumo zaidi kwa ajili ya kampuni za utafutaji mafuta na gesi asilia ili ziendelee kufanya utafiti na ugunduzi zaidi wa gesi asilia na mafuta kwa ajili ya maendeleo ya nchi.
“Aidha, kisima kilichochimbwa Songo Songo Kisiwani na kukamilika Mei 2012 kimebainika kuwa na uwezo wa kuzalisha futi za ujazo milioni 60 kwa siku. Hii ni hazina mpya nchini,” aliongeza Waziri wa Nishati na Madini na kusema kuwa, gharama za kisima kimoja ni kati ya dola milioni 100 na 150 za Marekani (kati ya Sh bilioni 160 na Sh bilioni 240).
Alisema katika miaka mitatu iliyopita, kumekuwa na kasi kubwa ya utafutaji mafuta na gesi nchini, ambao umejikita zaidi kwenye bahari ya Hindi kwenye maji ya kina kirefu.
Alisema kuna kampuni kubwa duniani za utafutaji mafuta na gesi asilia nchini na hadi Juni 14, zipo kampuni 19 mbali na Antrim ambayo ina leseni Zanzibar ambako shughuli za utafiti hazifanyiki.
Alizitaja kampuni hizo kuwa ni Petrobas ya Brazil, British Gas, Aminex, Ophir, Dominion, Wentworth Resources, Afren Rescources Petrodel (Uingereza), Exxon Mobil na Shell (Uholanzi), Statoil (Norway) na Maurel & Prom (Ufaransa).
Nyingine ni Heritage (Ireland), Jacka Rescources, Otto Energy, Swala Oil & Gas, Beach Petroleum (Australia), Motherland (India) na Hydrotanz (Mauritius).
Profesa Muhongo alisema kampuni hizo zinafanya kazi kwa upekee au kuungana na nyingine kwenye sehemu mbalimbali za leseni na utafiti na ambao unakwenda kasi kubwa ni wa kwenye bahari ya kina kirefu.
Alisema hivi sasa kuna mitambo mitano ya kuchimba visima vya utafiti wa mafuta na gesi, ambapo miwili inafanya kazi kwenye bahari ya kina kirefu na mitatu nchi kavu.
“Utafiti wa nchi kavu nao unaendelea vizuri ukijumuisha mitambo mitatu ambayo iko nchini ikichimba visima. Vitatu vimekamilika. Viwili vikiwa vimegundua gesi Songo Songo na Magharibi mwa Mtwara.
“Kisima kimoja kilichochimbwa Mnazi Bay hakikuwa na gesi ya kutosha. Kisima kilichokamilika Mei 2012 Songo Songo kina uwezo wa kuzalisha meta za ujazo milioni 60,” alisema Profesa Muhongo.
Alisema Wizara ya Nishati na Madini iko katika hatua za mwisho kukamilisha maandalizi ya Sera, Sheria na Mpango kabambe wa matumizi ya gesi asilia nchini.
Posted by MJ
TAASISI ya Sekta binafsi nchini (TPSF) imesema, uwezo mdogo wa kukusanya kodi wa Mamlaka ya Mapato nchini (TRA) unasababisha bajeti kuegemea kuongeza kodi kwenye bidhaa za vinywaji ambavyo vinaaminika kuwa ni chanzo cha mapato yao.
Pia taasisi hiyo imeshauri Serikali ianzishe utaratibu wa kuajiri kwa mikataba ya miaka mitatu tu ili kuweza kuwa na nidhamu katika utendaji kazi na matumizi ya fedha za umma pia.
Hayo yamesemwa na Mkurugenzi Mkuu wa TPSF, Godfyey Simbeye wakati akizungumza na waandishi wa habari mjini hapa juu ya kauli ya taasisi hiyo baada ya Waziri wa Fedha, Dk William Mgimwa kuwasilisha bajeti ya Serikali jana.
Alisema, hii inaonesha dhahiri kuwa TRA haina orodha kamili ya walipa kodi ambao hali ambayo kwa kiasi kikubwa ndiko kiasi kikubwa cha mapato kinakopotea na hivyo kujikuta wakilazimika kukandamiza kodi kubwa katika vinywaji.
Alisema kuwa, uamuzi huu wa kuongeza bajeti katika vinywaji haujafanyika katika bajeti hii ya 2012/2013 bali inafanyika karibu bajeti zote katika kila mwaka.
“Wenzetu wa nchi ya Kenya, katika bajeti yao ya mwaka jana hawakugusa kabisa kupandisha kodi katika vinywaji, inaonesha wanakusanya kodi yao katika maeneo mengine,” alisema Mkurugenzi huyo.
Aidha aliongeza kuwa, ni jambo la kushangaza pale ambapo Wabunge walishangilia baada ya kusikia Waziri wa Fedha na Uchumi, alipotangaza kuongeza kodi katika sigara na bia kwa asilimia 25 ili kuweza kuwadhibiti walevi.
Alisema kuwa hivi sasa Tanzania ina watu milioni 45, lakini walipa kodi ni watu 500 hali ambayo huchangia Serikali kushindwa kukusanya mapato stahiki na kuendelea kunyonya walipa kodi wadogo.
“Labda vitambulisho vya taifa vitasaidia nchi hii kuweza kukusanya kodi na kuacha kuangalia kwenye bia na soda,” alisema.
Pia alibainisha kuwa, kama sekta binafsi haikupendekezwa na Serikali kutenga asilimia 70 kwenda kwenye matumizi ya kawaida huku asilimia 30 kwenda kwenye shughuli za maendeleo hali ambayo inaonesha kuwa hakutakuwa na ushindani kwenye biashara.
“Sekta binafsi inapendekeza angalau asilimia 65 ingetengwa kwa ajili ya matumizi ya kawaida na kwenye shughuli za maendeleo iwe asilimia 35 ili kwenda sambamba na soko la pamoja la Afrika Mashariki,” alisema.
Alisema kuwa, bajeti haikueleza kama Mkaguzi na Mdhibiti Mkuu wa Hesabu za Serikali (CAG) atawezaje kuzuia matumizi mabaya ya fedha za umma.
Simbeye alisema kuwa, suala la kuvutia uwekezaji linasuasua kutokana na kutokuwa na benki ya ardhi kwani hakuna ardhi inayotengwa kwa ajili ya uwekezaji katika kilimo.
“Serikali ifikirie kuwa na benki ya ardhi na wangeanza na mikoa mitano kama majaribio, suala la ardhi lingetengewa bajeti hilo pia lingerahisisha hata ukusanyaji wa kodi,” alisema.
Pia alitaka leseni isiwe chanzo cha kukusanya mapato kwenye Halmashauri na kuangaliwa kwa mikakati ya kukuza viwanda ambayo bado haijawekwa vizuri.
Aidha alisema kuwa bajeti ya mwaka huu haiwezi kubadilisha maisha ya Mtanzania kwa kiwango kilichotarajiwa kwani haikuongelea suala la bei ya mafuta.
Posted by MJ
South Africa’s wine tourism has been rated the best-developed in the world by International Wine Review, one of the world’s most influential opinion formers on wine.
Wine tourism is growing fast worldwide and plays an especially important role in South Africa.
The country’s reputation for making high-quality wine is centuries old, but the world had largely forgotten it by the time apartheid ended some two decades ago.
But since then, the industry has rapidly modernised, and South African winemakers have reacquainted themselves with the rest of the wine-loving world – and vice versa.
Today, the best of South African wine is up there with the rest.
During their review, the publication’s editor Don Winkler and publisher Mike Potashnik visited the winelands in December 2011 to evaluate the country’s top premium and ultra-premium wines, and at the same time evaluated its wine tourism.
“While the country is located far from most foreign wine lovers, it offers huge rewards to those who visit its wine country,” they wrote in their latest report.
“Most wineries have excellent tasting facilities and many have superb restaurants with spectacular mountain vineyard views.”
Andre Morgenthal, spokesperson for the Cape Town and Cape Winelands chapter of the Great Wine Capitals (GWC), is excited over the revelation.
“That is high praise indeed, coming as it does on the back of the US Weather Channel recently placing the Cape winelands second after Andalucia in Spain on its annual list of the World’s Top Ten Wine Trails,” he said.
The attractions of the wine industry are seen as a major factor in the growth of Cape Town’s tourism industry.
“Wine tourism is a vital product offering as it helps improve the country’s competitiveness against destinations like Brazil, Australia, Kenya and Thailand,” said tourism minister Marthinus van Schalkwyk.
It is estimated that wine tourism now generates annual income in excess of R5-billion (US$590-million) while also being a major job creator. The total wine exports from South Africa stood at 350,564,774 litres in 2011, with Europe as its biggest buyer overall.
Van Schalkwyk said the wine tourism sector in South Africa will always have strong roots from which to grow even further in the international market.
“I believe wine tourism can contribute in a significant way and we look forward to continued constructive engagement with the industry,” he said.
Tanzania Government has put forward strategies to boost Tanzania’s locally produced Wine ‘Dodoma Wine’. The 2012/2013 budget attracts lower duties compared to imported. If this opportunity used wisely we can start our own wine tourism vilage in Dodoma.
Posted by MJ
Foreign farms are spreading across Africa to grow food and biofuels for global markets, bringing much-needed investments but also new troubles for a continent struggling to feed itself.
China, Malaysia, Singapore and Bangladesh are just some of the countries spending billions of dollars in what critics have dubbed a new “scramble for Africa”, a reference to Europe’s 19th century colonisation drive.
But Africa holds an estimated 60% of the world’s uncultivated, arable land, making the continent a critical component to international efforts to feed the planet’s growing population.
How to achieve global food security is one of the most contentious issues at the upcoming Rio Summit on the environment, where activists are expected to sound the alarm over “land grabs” in Africa.
Many of the deals are with private companies, from Asian states seeking to feed large, growing populations to Europeans looking to produce biofuels, and their arrival on the continent has sometimes provoked angry backlashes.
Bangladesh’s government explicitly encourages such schemes as a way to feed its 150 million people, as its own farmland falls to urban and industrial growth.
Bangladeshi companies have deals to grow rice in Uganda and Tanzania, but across the continent in Gambia, the government rejected a deal following an uproar over a foreign farm project in neighbouring Senegal.
Last year two people died in protests in Senegal over a 20,000-hectare (50,000-acre) biofuel scheme. The government in Dakar put the scheme on ice.
The most dramatic case so far has been South Korean conglomerate Daewoo’s $6-billion (4.7-billion euro) plan to grow corn and palm oil in Madagascar, on an area the size of Belgium.
Public outrage at the deal was one of the sparks to protests that toppled then-president Marc Ravalomanana in 2009. The deal was scrapped after the coup, which tipped the island into an ongoing crisis.
Conflicts with local residents, often caused by shady contracts, are one of the biggest problems caused by the large-scale deals. Some communities are resettled, others complain about competition for water.
“Recent land acquisitions in Cameroon all look shocking, due to their scale, their low cost (as little as 50 US cents a hectare a year), their length (of up to 99 years), and their secrecy,” said Samuel Nguiffo, of the Centre for Environment and Development.
In Liberia, such deals could cover up to half of the nation’s arable land, squeezing the land left for riverside communities to grow food, according to Columbia University’s Center for International Conflict Resolution.
Riots erupted over a 2009 deal with Malaysia’s Sime Darby to plant rubber and palm oil plantations, forcing President Ellen Johnson Sirleaf in December to admit to “mistakes” in the $3 billion contract.
“I don’t know where I am going to make farm this year. The land my great parents left with me has been taken from me and given to Sime Darby,” said local farmer Fred Dassen, 61, on a recent radio report.
Activists argue that policymaking is tilted toward agro-industry, while Africa should support its own small farmers with better seeds or extension services.
African farm productivity is low, about one-quarter the global average, according to the UN Food and Agriculture Organization. Just 8.5% of arable land is cultivated, and only 5.4 percent irrigated.
Governments argue that big foreign investment can change that as companies improve infrastructure and train new farmers. New crops can also bring new industry: Liberia hopes its oil plantations will lead to a soap factory.
Gabon has attracted $4.5 billion (3.6 billion euros) in investments in rubber and palm oil by Singapore’s agro-food giant Olam.
The government says the company’s new rubber plantation and factory would create 6,000 direct jobs and 5,000 subsidiary jobs. The company will also build thousands of homes as well as schools and a health clinic.
Marc Ona, founder of the Brainforest pressure group, said the concern is more about the lack of oversight of the deals and the impact on the environment and society.
“Faced with the challenge of food security, the choice is often geared toward agro-industry, with decisions made in illegal circumstances, without judicial oversight,” he said.
Posted by MJ
Facebook has agreed to dish out a whopping $10million to charity to settle a lawsuit that accused the site of violating users’ rights to control the use of their own names, photos and likenesses, according to court documents made public this weekend.
The lawsuit, brought by five Facebook members in California, alleged that the social networking site violated state law by publicizing users’ ‘likes’ of certain advertisers on its ‘sponsored stories’ feature without paying them or giving them a way to opt out, the documents said.
The blockbuster settlement could potentially allow millions of other Facebook users to pursue similar legal action.
A ‘sponsored story’ is an advertisement that appears on a user’s Facebook page and generally consists of another friend’s name, picture and an assertion that the person ‘likes’ the advertiser.
The ads were started in early 2011. The settlement, which was reached last month but made public this weekend, puts a question mark over a major source of ad revenue for the company.
Facebook declined to comment on Saturday.
Boss: Facebook founder and CEO Mark Zuckerberg had been quoted as saying that that a trusted referral from a Facebook friend was the ‘Holy Grail’ of advertising
The proposed class-action suit, filed in federal court in San Jose, California, could have included nearly one of every three Americans, with billions in damages – another potential black eye for a company that has struggled since its disastrous initial public offering last month.
In the lawsuit, Facebook Chief Executive Mark Zuckerberg was quoted as saying that a trusted referral was the ‘Holy Grail’ of advertising.
Facebook’s chief technology officer, Bret Taylor (pictured), is departing ‘sometime this summer’ to start his own company, in the first exit of a high-profile executive since the social networking company’s IPO on May 18.
Taylor said he will be starting up a new company with Kevin Gibbs, a senior Google engineer, according to his Facebook profile.
The news was first reported by AllThingsD.
Some investors had speculated that Facebook would have trouble holding onto key talent following its IPO, which created many millionaires among its ranks.
Facebook executive Mike Vernal will take over the platform division, one of Taylor’s key jobs.
Cory Ondrejka will take over mobile, a source familiar with the situation confirmed.
In addition, the lawsuit cited comments from Facebook chief operating officer Sheryl Sandberg, saying that the value of a ‘sponsored story’ advertisement was at least twice and up to three times the value of a standard Facebook.com ad without a friend endorsement.
U.S. District Judge Lucy Koh said the plaintiffs had shown economic injury could occur through Facebook’s use of their names, photographs and likenesses.
‘California has long recognized a right to protect one’s name and likeness against appropriation by others for their advantage,’ Koh wrote.
The settlement arrangement is known as a cy-pres settlement, meaning the settlement funds can go to charity. A judge still needs to approve the settlement.
The case in U.S. District Court, Northern District of California is Angel Fraley et al., individually and on behalf of all others similarly situated vs. Facebook Inc., 11-cv-1726.
Facebook shares closed at $30.01 on Friday, down 21 per cent since the company’s initial public offering last month.
Dozens of lawsuits have been filed against Facebook from disgruntled shareholders.
Posted by MJ