Facebook adds privacy
tools for mobile
In response to privacy concerns, Facebook Inc. founder and CEO Mark Zuckerberg on Wednesday unveiled new tools that will allow Facebook users to test-drive applications anonymously, and reveal far less information and better regulate how they share apps on smartphones, tablets and other mobile devices.
Unlike previous f8 Facebook Developer Conferences, Zuckerberg said the social networking giant had no “big new product announcement or new direction.” Instead, Zuckerberg said Facebook is focusing on helping app developers build a more stable platform for mobile devices that also offer Facebook users greater privacy.
Facebook users now can limit the amount of information that they share through mobile apps, along with the information of their Facebook friends, Zuckerberg said. Facebook users who want to try out a new mobile app also can log on anonymously across all of their mobile devices — without revealing their real identity or any information, he said to widespread applause.
Mohegan Sun parent
company sees drop
The parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania reported on Wednesday a nearly 32 percent drop in second-quarter profit, driven largely by lower slot machine revenue and a brutal winter that forced many senior citizens to stay home.
Mitchell Grossinger Etess, chief executive of the Mohegan Tribal Gaming Authority, said the Uncasville, Conn., and Plains Township, casinos “performed quite well” despite the weather and persistently weak economy that he said were beyond anyone’s control.
The bitter cold also helped account for a “huge increase” in utility costs, he said.
Still, Etess said the Mohegan casinos “fared relatively well,” particularly in comparison with other casinos.
Net income for the quarter ending March 31 was $9.6 million, down 31.6 percent from the same period last year. Revenue was $316.7 million, down about 3 percent from last year’s second quarter.
One bright spot was a nearly 10 percent increase in non-gambling revenue, such as entertainment and hotels, to $60.5 million.
Gov’t lost $11B
on GM aid deal
A new report says taxpayers lost $11.2 billion on the government’s bailout of General Motors.
The estimate comes from a quarterly report to Congress by a government watchdog that oversees the bailout, and is up from a previous estimate of $10.5 billion.
The Detroit automaker needed the $49.5 billion bailout to survive its bankruptcy restructuring in 2009. The company went public again in November 2010, and the government sold its last shares of GM in December. The report says the Treasury Department wrote off an $826 million administrative claim against General Motors Co. in March, ending its involvement with the company.
In July the agency said the government lost $2.9 billion on the bailout of Chrysler, which cost $12.5 billion.