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Rosetta Stone Inc. Announces Changes to Board of Directors

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By Business Wirevia The Motley Fool

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Rosetta Stone Inc. Announces Changes to Board of Directors

Board to Consist of Eight Directors Following 2013 Annual Meeting of Stockholders

ARLINGTON, Va.–(BUSINESS WIRE)– Rosetta Stone Inc. (NYS: RST) , a leading provider of technology-based language-learning solutions, today announced that Theodore J. Leonsis will resign effective at the Rosetta Stone 2013 annual meeting of stockholders, and Tom P.H. Adams and John E. Lindahl will not seek re-election to the Rosetta Stone board of directors at the company’s 2013 annual meeting of stockholders.

A member of Rosetta Stone‘s Board since December 2009, Mr. Leonsis was instrumental in helping to bring Rosetta Stone President and CEO Stephen M. Swad to the company and has been an important advisor as Rosetta Stone transitions to a more online and cloud-based model. Mr. Leonsis is leaving the Board to focus on his other businesses interests and investments, including Monumental Sports and Entertainment which owns the NBA’s Washington Wizards, NHL’s Washington Capitals, the WNBA’s Washington Mystics, and the Verizon Center; Revolution Growth, a speed up capital fund; SnagFilms, a company that offers independent movies on demand; and Groupon Inc. (NAS: GRPN) , where he serves as interim co-CEO.

Currently serving as the non-executive Chairman of the Board, Mr. Adams has been a member of the Rosetta Stone Board since January 2006. He served as the company’s President and CEO from February 2003 until February 2012, when he assumed the role of non-executive Chairman. During Mr. Adams’s tenure as CEO, Rosetta Stone grew from a small, technology start-up into a global brand that has changed the way the world learns languages. He was recently named to the Management Committee of Bridgewater Associates, an investment company that manages approximately $120 billion in global investments, and is not seeking re-election to the Board due to his responsibilities at Bridgewater.

A Director since February 2006, Mr. Lindahl is Managing Partner of Norwest Equity Partners, where he led Norwest’s investment in Rosetta Stone in 2006. He will continue to oversee Norwest’s investments in Rosetta Stone and its other portfolio companies.

Commenting on the departures, Mr. Swad, President and CEO of Rosetta Stone, said, “All three of our departing Board members have made significant contributions to the development and evolution of Rosetta Stone and we are grateful for their services, advice and guidance over the years. Tom was obviously instrumental in taking a small language technology start-up …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Facebook Share Price Recovery Stumbles

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By 24/7 Wall St.

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The price recovery of Facebook Inc’s (NASDAQ: FB) shares was trending, but they are selling down again. Optimism that the social network has found a way to raise rates on the ads it runs, and that it had unlocked the value of its users who access the site on mobile devices, moved shares from less than $26 at the end of last year to almost $33 at the end of January. Since then, the stock has declined to less than $27.

There is no single cause for the drop. One trigger may be the success of LinkedIn Corp. (NYSE: LNKD). Investors like the company because it has multiple sources of revenue, which Facebook, despite its efforts, does not. Another red flag for Facebook investors is research that says people spend less time on the site than they did just months ago.

Finally, Facebook continues to be grouped with a series of Web 2.0 companies, including Zynga Inc. (NASDAQ: ZNGA) and Groupon Inc. (NASDAQ: GRPN), which should have been sold privately to large companies like Google Inc. (NASDAQ: GOOG) and not pawned off on public corporation investors.

Filed under: 24/7 Wall St. Wire, Internet, Media Tagged: FB, GOOG, GRPN, LNKD, ZNGA

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Source: FULL ARTICLE at DailyFinance

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Dan Gilbert And Quicken Loans Invest In Detroit Real Estate, Bet On Downtown Urban Center

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By The Huffington Post News Editors

By Nick Carey
DETROIT, Feb 19 (Reuters) – Dan Gilbert has a vision for downtown Detroit that many would find hard to square with the long, painful decline commonly associated with this city: a vibrant urban core full of creative, innovative and talented young people.
Yet Quicken Loans, the mortgage lender Gilbert co-founded in 1985, has invested $1 billion over three years, bought some 2.6 million square feet of commercial space in the downtown area and moved 7,000 employees there in a bid to make that vision a reality.
The company is in talks with 80 to 100 retail outlets and restaurants to open downtown space, and Gilbert and other business leaders have fronted most of the money for a $140 million light rail line in the heart of the city. Quicken has also invested in an incubator for technology startups, which now number 17.
Gilbert, who grew up in a Detroit suburb, wants to brake the exodus of educated young people from the only state in the country that lost population between 2000 and 2010. Among those who set up home elsewhere in recent years are two founders of daily deal marketer Groupon Inc, University of Michigan graduates from the Detroit area whose startup took root in Chicago.
“Young people are fleeing the state and we need to give them a reason to be here,” Gilbert, 51, said in a recent interview in the Madison Theatre, one of many buildings his firm has bought.
Part of his zeal comes from his own need to attract top talent to Quicken Loans, which runs a nationwide online lending business that Gilbert says makes it “a tech company that happens to sell mortgages.” Having avoided the subprime mortgages that crippled many of its competitors in the housing crash, the company has grown rapidly in recent years.
Quicken Loans moved downtown from the suburbs in 2010. Home loan volume went from $30 billion in 2011 to $70 billion in 2012; Gilbert sees it rising to $100 billion this year. He anticipates Quicken will surpass JP Morgan Chase as the country’s No. …read more
Source: FULL ARTICLE at Huffington Post