Friday, March 16, 2012

Carbonite crashing after Limbaugh trashing

Carbonite crashing after Limbaugh trashing


CARBONITE CRASHING AFTER LIMBAUGH TRASHING

Stock now sits at 60% off its 2011 high mark – company CEO big liberal donor

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Carbonite, the Internet backup/security company, may be a good place to securely store irreplaceable computer data, but it’s not proving to be a good place to invest irreplaceable dollars.
The company, which went public last August, has seen its stock dive 20 percent after Carbonite CEO David Friend criticized Rush Limbaugh in the wake of the Sandra Fluke flap. Limbaugh’s dismissal of Fluke as a “slut,” in the wake of her call for the federal government to pay for her contraceptives, resulted in Carbonite withdrawing its advertising from Limbaugh’s highly successful show.
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The plunge caused MarketWatch’s Chuck Jaffe to call Carbonite “the Stupid Investment of the Week.”
Whether due to a backlash or boycott by Limbaugh’s supporters or loss of access to Limbaugh’s large national audience, Carbonite has paid a price in the marketplace.
The company’s initial IPO price of $10 per share soared to $21.10 before beginning its steady decline. Before the Fluke flap, it had pulled back to less than it’s initial IPO price, but post-Fluke, it took a rapid 20 percent drop, settling this week at nearly 60 percent off its 2011 peak.
Friend’s venture into the political arena cost his shareholders dearly.
The Washington Times noted Friend has a long history of contributing to left-leaning candidates and causes. Citing Accuracy in Media, the Times reports Friend donated generously to the Howard Dean, John Kerry, and Barack Obama presidential campaigns, as well as several 527 groups such as “America Coming Together,” moveon.org, and “Texans for Truth.”
The latter organization, funded by George Soros through Moveon.org, released an ad accusing George W. Bush of evading his National Guard Service. A day later, “Dan Rather and CBS’ 60 Minutes did their program based on the bogus National Guard documents.”
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Showing 10 of 300 comments

  • my5grands
    " A five second glance at the graph for Carbonite stock shows how very,
    very, very lame the quality of "news" in this article is. But, once
    again: how believable any WND article is inversely proportionate to the
    amount of research the reader does."
    I did my research. I looked on Yahoo Finance, put in Carbonite in the Get Quotes box, asked for the 3 months graph and what do I see? On Feb. 29, the day Rush made his infamous remarks, the stock was at 9.69. It was on it's way down over the next several days (as it had been declining since the beginning of the 3 month period). But between March 5 and March 6 (when the news came out that Carbonite had pulled its ads from Rush's show) the stock went from 9.15 to 8.35.
    "The timing of the whole Fluke/Limbaugh incident hasn't accelerated the stock's downward trend that much, if any."
    I'd say that is a pretty measurable acceleration of the downward trend! No matter how you try to spin it,...
    show more
  • pappap42
    By- by nice to see you go. Bet you will be a hero at the next communist  I mean demoRAT meeting. I am sure they will get you a job.
  • Jeff Brodhead
    Glad NOT to have my data in the hands of Carbonite.  It's good that the Leftist fools expose themselves, as they become dispirited.
    Thank God!
    <><
  • RedPillPleaseTop 10 True Conservatism is Constitutional Obedience
    Serves Carbonite right. When you condemn the truth and allow political correctness to infect your public position, you've become part of the problem. I had this service from Carbonite before, and while they do a pretty good job of automating off-site backups, they do not backup executable files. I had many small legacy programs I thought were being backed up only to find out I was wrong on my last format and I ended up having to search for the files in my DVD backups. I decided not to renew my subscription following that frustrating episode and found backing up to an external drive to be much easier. 
    You Carbonite shareholders, get out now before you're Enronized!
  • LarryPTL
    Too bad - you pay a price for political correctness, and it isn't just your integrity!
  • Chris Reul
    oh so now it's suddenly wrong to publicly mock and fictionalize the sexual practices of a woman who speaks on behalf of a friend?  This is a Christian country!   What he said was acceptable!  the first amendment!   Rush is the true victim here since Obama hand selected her knowing that Rush would say what he did.
  • Lance_Mass
    I wouldn't say Rush is a victim Chris.  He's jus' stirrin' up awareness as usual!  He utilized his chance to apologize to the.....woman......as a direct hit on the character of hypocritical l!berals.  Brilliant guy!   ;) 
  • Gabriel
    Ummm.. the OP is on Rush's side too.
  • daveveselenak
    Don't get too excited. The Muslim-Marxist looks out for those who look out for him; if need be, he'll issue another executive order or kick back some of "his stimulus" funds to Carbonite if neccessary! - that is the reality.
  • Lance_Mass
    LOL!  Thanks dave!
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