PayPal IPO Bucks Trends -- Internet stocks may never return the high-flying days of a few years ago, but Internet transaction service PayPal bucked recent trends with its initial public stock offering last week. The stock opened at $13 and closed its first day of trading on the NASDAQ above $20, a 55 percent gain that left the company valued at over $1 billion. Despite that vote of confidence, PayPal is facing a patent infringement lawsuit and regulatory investigations from a number of states concerned that PayPal may be running afoul of banking regulations. PayPal also is by no means profitable, with a $107.8 million loss in 2001 on revenues of $104.8 million. Still, with 12.8 million customers and new ones arriving at a rate of over 18,000 per day, PayPal remains the leader in online transaction services - see "Worthy Web Sites: PayPal" in TidBITS-562). [ACE]
Set Time Zone Automatically in Snow Leopard
Frequent travelers may be interested to know that in Snow Leopard your time zone can now be set automatically by bringing up the Date & Time preference pane, clicking the Time Zone view, and selecting Set Time Zone Automatically. A progress spinner appears while Snow Leopard sends off information about the Wi-Fi signals in your vicinity and receives location data back.
- Worthy Web Sites: PayPal (08 Jan 01)