Describes motivation process for creativity with emphasis on intrinsic motivation by Corey K Katir

Lord (Willy) Bach, the peer who led Labouras opposition to the Legal Aid, Sentencing and Punishment of Offenders bill in the House of Lords, stepped down last week as shadow legal aid minister, a couple of days before the measure received royal assent to become an act.

The former legal aid minister condemns the act, which seeks to save APS350m a year by cutting legal aid scope and eligibility, as aoutrageous legislationa that will harm the adisabled, poor and vulnerable, and those least able to defend themselvesa.

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This isn’t going to be a popular thing to say, but it needs to be said. So here goes…

All this whining and umbrage about Facebook’s IPO is ridiculous.

When are people who voluntarily speculate on stocks finally going to take responsibility for their decisions?

Never, apparently.

On Thursday, Facebook priced its IPO at $38.

On Friday, the stock opened at $42, a 10% jump, and spent most of the day trading above $40. Then, thanks to heavy support from the company’s bankers, the stock closed just above $38.

In other words, even after the sharp selling at end of the day, Facebook IPO buyers were better off than they had been the day before. And if they were among those who took the abundant opportunity throughout the day to sell stock above $40, they locked in a nice overnight gain.

But to hear people bitch, you’d think they’d been swindled out of their life savings.

The New York Post captured the prevailing sentiment perfectly:

ZUCKERS!

They were Mark Zuckerberg’s cash cows.

Hordes of everyday New Yorkers played the fool yesterday to Wall Street fat cats and Facebook insiders, who used a bloated stock price to milk them of billions of dollars during an overhyped IPO.

With a $38-a-share price tag and forecasts for a 10 percent jump, mom-and-pop investors blindly bought in with dreams of instant riches that never came true.

Meanwhile, the social network’s hoodie-wearing CEO finished the day with a net worth of $19.25 billion. The average Facebook employee saw their on-paper wealth shoot up to $2.9 million.

Wow, sounds horrible.

And what happened, exactly?

Apparently, IPO buyers got less free money than they expected to.

The hope, presumably, was that–no matter where Facebook’s IPO priced–the enormous demand from suckers would cause the stock to “pop” when it started trading–thus allowing the shrewd IPO buyers to flip their shares at a profit only hours after buying them.

Of course, that’s exactly what the IPO buyers were given a chance to do. For about 4 hours yesterday, the IPO buyers could have locked in an instant 5%-10% gain. But apparently this wasn’t the 50%+ gain they were looking for.

Well, it’s time for people to grow up.

The $38 that Facebook IPO buyers voluntarily paid for the stock–emphasis on voluntarily–was already an extremely rich price for a company with decelerating revenue and only ~$0.35 of earnings last year. The only way these buyers were going to get a big “pop” from that price was if other investors seeking the same instant riches were even more aggressive and reckless than they were.

And it turned out that those even-more-aggressive-and-reckless traders stayed home.

So Facebook IPO buyers only got their 10% instant gain.

And a lot of them, apparently, did not take the opportunity to lock in that gain. Instead, they held on to the stock, either hoping that it would trade higher (likely), or because they are actually long-term investors.

And now, with the stock looking as though it will crash through the underwriters’ support and the IPO price on Monday, the IPO buyers are blaming their decision to hold onto it on Facebook, too.

So, what exactly were you looking for, folks?

Even more free money?

Just for pressing “buy”?

In what other normal universe would you ever expect that?

Facebook could not have been clearer about how it was going to emphasize the long-term at the expense of the short-term, and that’s exactly what it did in choosing its IPO price. Facebook now has a lot more cash at its disposal than it would have if it had lowballed the IPO just to give buyers a “pop.” That cash is valuable to the company, and it will help the company create more value over the long-term.

In the weeks leading up to the IPO, moreover, many analysts screamed from the rooftops that Facebook’s stock seemed extremely expensive. We even went to far as to call it “muppet bait.”

And when the stock opened on Friday at merely an extremely expensive price, instead of a ludicrous one, we were relieved. Because it meant that millions of investors weren’t buying it at absurd prices in the after-market… and thereby setting themselves up to get creamed when the hype faded.

But apparently those who did buy the IPO were expecting to get something for nothing. (And not just “something.” They were expecting to get a lot for nothing.)

And when they didn’t, they started taking their frustrations out on Facebook.

Trading stocks is a risky business. Perhaps it’s time for those who voluntarily choose to do it to acknowledge that.

SEE ALSO: And Now, If Facebook’s Bankers Can’t Hold The IPO Price, The Stock Will Crash To The Low $30s

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Who doesnat like a good deal? The popularity of Groupon, the online deal-of-the-hour/day/week service has spawned a whole family of mimics. Unfortunately, suggests Gary Schwitzer on Health News Review, itas a dysfunctional family when it comes to dubious medical treatments.

In the space of mere days, irresistible deals were available for:

• laser toenail fungus treatment;
  
• MRI for aheadache prevention screeninga;
  
• -lipolaser treatments;
  
• botox;
  
• B12 injections or allergy test.

Never mind that the evidence for lasers eradicating toenail fungus is sketchy, that the claim that an MRI can prevent headaches is positively ludicrous and the lipolaser might be performed by a guy with less training than your dentist.

But Schwitzer was amused most by an offer from Living Social for Colon Hydrotherapy:

aThe foliage may be in bloom outside, but if youare feeling less than fresh inside, todayas deal could help you stem the problem: Pay $35 and get one colon hydrotherapy session (a $75 value). Colon hydrotherapy is a safe, effective method of cleansing the large intestine using water instead of drugs. The gentle infusion of warm filtered water moves naturally through your large intestine, leaving you feeling cleansed and refreshed. The treatment is safe, quick and pain-free. The certified staff uses an advanced state-of-the-art technology to provide you with natural wellness therapies. Donat be a shrinking violet a nab todayas deal before it goes to seed.a

Commented one guy on the Health News Review site, aPersonally, I await the Groupon lobotomy offera|a

Absent pernicious anemia, almost no one needs injections of B12. And no oneas colon is crying out for cleansing. But a| got a coupon for hype eradication? Weare in!

Dawn of the Arcana Book 3 Dawn of the Arcana Book 3 by Rei Toma Viz, $9.99 Nakaba gets the kind of pledge from her arranged husband that many girls dream about, as he, thinking she might have tried to kill him, nevertheless vows that he will always come back to her. Meanwhile, the faithful [...]

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