NBA Cancels First Two Weeks Of Regular Season

  x You have successfully emailed the post. After two days of negotiations and no agreement on a new Collective Bargaining Agreement in sight, the NBA tonight canceled the first two weeks of the regular season.

The two sides met for seven hours today, but Stern says the two sides are "very far apart on virtually all issues."

The biggest issue continues to be how the two sides will split $3.8 billion in revenue. That is a number that is certain to skyrocket when the NBA negotiates their next round of televisions deals.

The season was scheduled to begin on November 15 and at this point, it would still be a surprise to see any games before Christmas.

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Coke Cancels $24 Million French Investment After Soda Tax Announced

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Coca-Cola announced today that it will be putting a €17 million ($24 million) investment in a French factory on hold because of the French plan for a tax on sugary sodas, reports the AP.

The French government had hoped that the tax would not only help fight obesity but also help raise €120 million ($168 million).

However, Coca-Cola responded by saying arguing that the tax was unfair as the soda is “not harmful to health.”

On Coca Cola's French website, it says “[obesity] is not linked to the consumption of a particular product, but depends on the global nutritional balance."

Read more at France24 >

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GROUPON CANCELS IPO ROADSHOW, SEC Wants Answers On Leaked Memo

  x You have successfully emailed the post. Groupon has canceled its IPO roadshow, which was scheduled for next week, Anupreeta Das of the Wall Street Journal reports.

The SEC has reportedly been asking questions about the internal email that was leaked two weeks ago that struck many observers, including us, as likely violating the SEC's pre-IPO "quiet period" rules.

Two weeks ago, infuriated by constant media bashing of his company, Groupon CEO Andrew Mason wrote a long email to Groupon employees laying out his case for why the company was in great shape.

This email took on critics point by point, arguing that Groupon had plenty of cash, was not a Ponzi scheme, and would become a massive and profitable company. The email was immediately leaked to Kara Swisher at All Things D, prompting concerns about the quiet period.

In 1996, Wired was forced to pull its own IPO after a similar memo was leaked to the Internet.

More to follow...

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