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Beneath the Planet of the Apes
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Beneath the Planet of the Apes
Theatrical release poster
by Tom Chantrell
Directed by
Ted Post
Produced by
Arthur P. Jacobs
Screenplay by
Paul Dehn
Story by
Paul Dehn
Mort Abrahams
Based on
Characters created
by Pierre Boulle
Starring
James Franciscus
Kim Hunter
Maurice Evans
Linda Harrison
Charlton Heston
Music by
Leonard Rosenman
Cinematography
Milton R. Krasner
Edited by
Marion Rothman
Production
company
APJAC Productions
Distributed by
20th Century Fox
Release date
May 26, 1970 (1970-05-26)
Running time
95 minutes
Country
United States
Language
English
Budget
$4.7 million[1]
Box office
$19 million[2]
Beneath the Planet of the Apes is a 1970 American science fiction film directed by Ted Post and written by Paul Dehn. It is the second of five films in the original Planet of the Apes series produced by Arthur P. Jacobs.[3] The film stars James Franciscus, Kim Hunter, Maurice Evans, and Linda Harrison, and features Charlton Heston in a supporting role.
In this sequel, another spacecraft crashes on the planet ruled by apes, carrying astronaut Brent who searches for Taylor and discovers an underground city inhabited by mutated humans with psychic powers. Beneath the Planet of the Apes was a success at the box office but met with mixed reviews from critics. It was followed by Escape from the Planet of the Apes.
Contents
[hide]
1 Plot
2 Cast
3 Production
3.1 Development and writing
3.2 Filming
3.3 Music
4 Novelization
5 Comic book adaptations
6 Reception
7 See also
8 References
9 External links
Plot[edit]
Following the events of Planet of the Apes, time-displaced astronaut Taylor (Charlton Heston) and the mute Nova (Linda Harrison) are riding on horseback through the desert of the Forbidden Zone. Without warning, fire shoots up from the ground and deep chasms open. Confused by the strange phenomenon, Taylor investigates a cliff wall and disappears before Nova's eyes.
Elsewhere in the Forbidden Zone, a second spaceship has crash landed after being sent to search for Taylor and his crew. Like Taylor's ship, it has traveled into Earth's distant future. However, surviving astronaut Brent (James Franciscus) believes he has traveled to another planet, and forward in time to the year 3955. He encounters Nova and notices she is wearing Taylor's dog tags. Hoping Taylor is still alive, he rides with her to Ape City, where he is shocked to discover the simian civilization. He observes the gorilla General Ursus (James Gregory) leading a rally calling for the apes to conquer the Forbidden Zone and use it as a potential food source, against the objections of the orangutan Dr. Zaius (Maurice Evans). Brent is wounded by a gorilla soldier and taken by Nova to the home of the chimpanzees Cornelius (David Watson) and Zira (Kim Hunter), who treat his wound and tell him of their time with Taylor. The humans hide when Dr. Zaius arrives and announces that he will accompany Ursus on the invasion of the Forbidden Zone.
Attempting to flee the city, Brent and Nova are captured by gorillas. Ursus orders they be used for target practice, but Zira helps them escape. They hide in a cave which Brent soon discovers is the ruins of the Queensboro Plaza station of the New York City Subway, making him realize that he has traveled through time to Earth's post-apocalyptic future. After following a humming sound deeper into the underground tunnels, Brent begins to hear voices telling him to kill Nova. Entering the remains of St. Patrick's Cathedral, he finds a population of telepathic humans who worship an ancient nuclear bomb.
Brent and Nova are captured and telepathically interrogated, and Brent reveals the apes are marching on the Forbidden Zone. The telepaths attempt to repel the apes by projecting illusions of fire and other horrors, as they had done to Taylor and Nova. Dr. Zaius sees through the illusions, however, and leads the ape army to the ruined city. With the apes closing in, the telepaths plan to detonate their "Divine Bomb" as a last resort. They hold a religious ceremony, at the height of which they remove their masks to reveal that they are in fact still-intelligent humans who are descended from survivors of the nuclear wars. The nuclear fallout has mutated them by removing layers of their skin, but greatly increased their psychic abilities.
Brent is separated from Nova and taken to a cell, where he finds Taylor. The mutant Ongaro (Don Pedro Colley) uses his telepathic powers to force Brent and Taylor to fight each other to the death. Nova escapes her guard and runs to the cell, screaming her first word: "Taylor!" This breaks Ongaro's concentration, freeing Brent and Taylor from his control. They then overpower and kill him. Brent describes the bomb the mutants worship and Taylor recognizes it as a "doomsday bomb", capable of destroying the planet, marked with the Greek letters Alpha and Omega on its casing.
The apes invade the subterranean city, making their way to the cathedral. One of the apes manages to kill Nova before being killed by Taylor and Brent. They are confronted by Méndez (Paul Richards), who raises the bomb into activation position before being gunned down. Brent and Taylor attempt to stop Ursus from accidentally setting off the weapon, but Taylor is shot. Brent manages to kill Ursus before being shot dead by the gorillas. The mortally wounded Taylor pleads with Dr. Zaius for help, but Zaius refuses, saying that man is only capable of destruction. In his last moment Taylor brings his hand down on the activation switch, triggering the bomb. The scene whites out and voiceover narration states: "In one of the countless billions of galaxies in the universe lies a medium-sized star, and one of its satellites, a green and insignificant planet, is now dead".
Cast[edit]
James Franciscus as Brent
David Watson as Cornelius
Kim Hunter as Zira
Maurice Evans as Dr. Zaius
Linda Harrison as Nova
Paul Richards as Mendez
Natalie Trundy as Albina
Jeff Corey as Caspay
Gregory Sierra as Verger
Victor Buono as Adiposo (credited as Fat Man)[4]
Don Pedro Colley as Ongaro (credited as Negro)[4]
James Gregory as General Ursus
Charlton Heston as Taylor
Tod Andrews as Skipper
Thomas Gomez as Minister
Roddy McDowall as Cornelius (uncredited, opening archive footage from Planet of the Apes)
Paul Frees (uncredited end narration)
Production[edit]
Development and writing[edit]
Soon after Planet of the Apes became a hit, a sequel started being considered by 20th Century Fox. Screenwriter Rod Serling was consulted, but his ideas did not interest the studio. Then the producers turned to the author of the original novel, Pierre Boulle, who wrote a draft for a sequel called Planet of the Men, where protagonist George Taylor would lead an uprising of the enslaved men to take back control from the apes as the gorilla general Ursus wants to fight humans. Boulle's script was rejected as it was felt that it lacked the "visual shock and the surprise" of the original. Associate producer Mort Abrahams then wrote story elements, and British writer Paul Dehn was hired to develop them into a script, tentatively called Planet of the Apes Revisited. Dehn implemented his trauma of the 1945 atomic bombings and the fear of nuclear warfare on the story. One of the elements thought up by Abrahams and Dehn was a half-human, half-ape child, but despite even going through make-up tests this was dropped due to the implication of bestiality.[5] According to screenwriter Dehn the idea for Beneath came about from the end of the first movie which suggested that New York City was buried underground.[6]
Although Charlton Heston showed little interest in reprising his role as Taylor, studio head Richard Zanuck thought the actor was essential to the sequel. After some disagreement with the actor's agents, Heston agreed to briefly appear with the provision that Taylor be killed and that Heston's pay go to charity. The writers decided to have Taylor disappear at the story's start and only return by the film's ending, and have a new protagonist for the major part of the story.[7] James Franciscus accepted the role of Brent as a break from his usual TV fare.[5]
Director Franklin J. Schaffner was invited to return to the series, but declined due to a commitment to Patton. Television and film director Ted Post was approached, and while objecting to the script for "not making a point at all", the producers asked what he did not like. Post then wrote a letter saying that "the loss of a planet is the loss of all hope". Post tried to get the other writer of the original, Michael Wilson, but a budget cut prevented him from doing so. Post and Franciscus - who wanted to help clarify the actions of and give depth to the character of Brent - spent a week rewriting the script, leading to over fifty pages of notes suggesting story ideas to fix some of the narrative problems in Paul Dehn's script.[5][8]
Roddy McDowall could not return for his role in this sequel, because he was in Scotland directing Tam Lin. Actor David Watson portrayed Cornelius in this film with McDowall only appearing briefly in clips from the first film used during Beneath's pre-title sequence.[9] Along with the animated series Return to the Planet of the Apes, this film is one of only two 1970s Planet of the Apes productions in which McDowall does not appear. Orson Welles was offered the role of General Ursus, but he turned it down objecting against spending all his screentime in a mask and make-up. The part ultimately went to James Gregory.[5]
Before Zanuck was fired as studio president during production, he suggested that Post add an element suggested by Heston, the Alpha Omega doomsday bomb, to end the series. However, before the film's release, the producers were considering ideas for another sequel.[5]
Filming[edit]
Production began in February 1969. The sequel, now titled Beneath the Planet of the Apes, had its budget reduced from $5 million to $2.5 million because Fox had suffered recently from several underperforming big-budget films, like Star!, Hello, Dolly! and Tora! Tora! Tora!. Nonetheless, the studio expected the film to return Fox to profitability.
Heston's parts were filmed in just eight days.[5] The sets of the mutants' council chamber and the temple of the bomb were redresses of the Grand Central – 42nd Street station and hotel lobby sets from the film Hello, Dolly![10]
Music[edit]
The original Apes composer, Jerry Goldsmith, was invited to write the score for the sequel, but Schaffner was using Goldsmith for Patton. Leonard Rosenman was hired to compose the score.[11] Rosenman tried to blend Goldsmith's distinctive score with his own style, showcased in productions such as Fantastic Voyage.[12] An official soundtrack LP was issued on the Amos Records label soon after the film's debut in 1970.[13] For the LP, Rosenman was asked to rearrange his score for a smaller orchestra, adding contemporary elements such as electric guitar and rock percussion. These re-recorded pieces were interspersed with dialogue taken from the film. The soundtrack featured some of the leading Los Angeles studio musicians of the time, including bassist Carol Kaye and Moog pioneer Paul Beaver.[14]
Novelization[edit]
The novelization of the film by Michael Avallone retained the original scripted ending. Brent does not kill General Ursus. Taylor confronts him and Dr. Zaius. As Taylor tries to reason with Zaius, Zaius condemns him and Ursus repeatedly shoots Taylor with his pistol; Brent's rifle empties and the gorillas kill him. Ursus is horrified, telling Zaius that he has emptied the pistol into Taylor; he should be dead, but he still lives. Knowing he is dying, Taylor (after Zaius refuses to help him) decides to stop the violence by detonating the bomb. This he does, destroying the Earth itself.[15]
Comic book adaptations[edit]
Gold Key Comics produced an adaptation of Beneath the Planet of the Apes in 1970. This was the first comics publication in the Planet of the Apes franchise.[16] Later, Marvel Comics published a different version in two series (b/w magazine 1974-77,[17] color comic book 1975-76[18]). Malibu Comics reprinted the Marvel adaptations when they had the license in the early 1990s.
Reception[edit]
Beneath the Planet of the Apes grossed $18,999,718 (approximately US $118M in 2016) [1] at the box office.[2] The film holds a 41% "Rotten" rating at the film review aggregator website Rotten Tomatoes, based on 22 reviews.[19] The film has a 6.1 (out of 10) rating from visitors to its IMDb page.[20]
See also[edit]
List of American films of 1970
References[edit]
Jump up ^ Solomon, Aubrey. Twentieth Century Fox: A Corporate and Financial History (The Scarecrow Filmmakers Series). Lanham, Maryland: Scarecrow Press, 1989. ISBN 978-0-8108-4244-1. p256
^ Jump up to: a b Box Office Information for Beneath the Planet of the Apes. Box Office Mojo. Retrieved May 14, 2012.
Jump up ^ "Those Damned Dirty Apes!". www.mediacircus.net. Retrieved 2011-08-03.
^ Jump up to: a b Handley, Rich. Timeline of the Planet of the Apes: The Definitive Chronology. Hasslein Books, 2009. ISBN 978-0-615-25392-3. Page 195: "Ongaro and Adiposo are identified as "Negro" and "Fatman" in the film's credits; their names appear in The Mutant News, a promotional newspaper distributed to moviegoers during the release of Beneath the Planet of the Apes."
^ Jump up to: a b c d e f "From Alpha to Omega: Building a Sequel", Beneath the Planet of the Apes Blu-ray
Jump up ^ Russo, Joe and Landsman, Larry with Gross, Edward "Planet of The Apes Revisited", 2001, pg. pg. 103. Thomas Dunne Books
Jump up ^ Russo, Joe and Landsman, Larry with Gross, Edward "Planet of The Apes Revisited", 2001. Thomas Dunne Books
Jump up ^ Russo, Joe and Landsman, Larry with Gross, Edward "Planet of The Apes Revisited", 2001, pg. 105. Thomas Dunne Books
Jump up ^ BEHIND THE PLANET OF THE APES documentary, in the DVD box sets.
Jump up ^ 'Cinefantastique Planet of the Apes Issue' (1972)
Jump up ^ The Great "Apes" Score Debate, by John O'Callaghan Archived July 4, 2010, at the Wayback Machine. - Film Score Monthly (8 February 1999)
Jump up ^ Beneath the Planet of the Apes at Film Score Monthly Archived June 25, 2012, at the Wayback Machine. - (2000)
Jump up ^ Amos Album Discography, by Mike Callahan, Patrice Eyries and Dave Edwards - Both Sides Now Publications (June 23, 2007)
Jump up ^ 45 Discography for Amos Records - Global Dog Productions
Jump up ^ Beneath the Planet of the Apes by Michael Avallone (Paperback - 1970)
Jump up ^ Beneath the Planet of the Apes at the Grand Comics Database
Jump up ^ Planet of the Apes at the Grand Comics Database
Jump up ^ Adventures on the Planet of the Apes at the Grand Comics Database
Jump up ^ "Beneath the Planet of the Apes Movie Reviews, Pictures". Rotten Tomatoes. Retrieved June 13, 2011.
Jump up ^ Post, Ted (1970-05-26), "Beneath the Planet of the Apes", IMDB, retrieved 2016-01-28
External links[edit]
Wikiquote has quotations related to: Beneath the Planet of the Apes
Beneath the Planet of the Apes on IMDb
Beneath the Planet of the Apes at AllMovie
Beneath the Planet of the Apes at Rotten Tomatoes
Beneath the Planet of the Apes at Box Office Mojo
[show]
v
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Planet of the Apes
Films
Original series
Planet of the Apes (1968)
Beneath the Planet of the Apes (1970)
Escape from the Planet of the Apes (1971)
Conquest of the Planet of the Apes (1972)
Battle for the Planet of the Apes (1973)
Remake
Planet of the Apes (2001)
Reboot series
Rise of the Planet of the Apes (2011)
Dawn of the Planet of the Apes (2014)
War for the Planet of the Apes (2017)
Television
Planet of the Apes (1974)
Return to the Planet of the Apes (1975)
Behind the Planet of the Apes (1998)
Video games
Planet of the Apes (2001)
Revenge of the Apes (2003)
Planet of the Apes: Last Frontier (2017)
Other
La Planète des Singes
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Star Trek/Planet of the Apes: The Primate Directive
Tarzan on the Planet of the Apes
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The Peacemaker (1956)
The Legend of Tom Dooley (1959)
Hang 'Em High (1968)
Beneath the Planet of the Apes (1970)
Do Not Fold, Spindle or Mutilate (1971)
The Baby (1973)
The Harrad Experiment (1973)
Magnum Force (1973)
Whiffs (1975)
Go Tell the Spartans (1978)
Good Guys Wear Black (1978)
Nightkill (1980)
Stagecoach (1986)
The Human Shield (1991)
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Top Gear (series 19)
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Top Gear (series 19)
Promotional poster
Starring
Jeremy Clarkson
Richard Hammond
James May
Country of origin
United Kingdom
No. of episodes
7
Release
Original network
BBC Two
Original release
27 January (2013-01-27) – 10 March 2013 (2013-03-10)
Series chronology
← Previous
Series 18
Next →
Series 20
List of Top Gear episodes
The nineteenth series of Top Gear was aired during 2013 on BBC Two and BBC HD, beginning on 27 January and concluding on 24 February.[1] It was subsequently followed by a two part special entitled "Africa Special", the first part airing on 3 March 2013, and the second airing a week later on 10 March.
Contents
[hide]
1 Episodes
2 Criticism and Controversy
2.1 Toyota GT86 and Subaru BRZ Reviews film
3 Notes
4 References
5 External links
Episodes[edit]
Main article: List of Top Gear episodes
Total
No.
Title
Review
Features/Challenges
Guest(s)
Original air date
UK viewers
(million)[2]
147
1 Series 19, Episode 1 Pagani Huayra • Bentley Continental GT Speed Take the Bentley Continental GT Speed to a Welsh Rally stage. • Build a car smaller than a Peel P50 (Clarkson's "P45") Damian Lewis • Kris Meeke • The Cast of Dragons' Den (Theo Paphitis • Duncan Bannatyne • Peter Jones • Deborah Meaden) 27 January 2013 (2013-01-27) 6.65[nb 1]
Hammond tests out the latest supercar from Italy, the Pagani Huayra, while May takes to a Welsh stage of the World Rally Championship with the new Bentley Continental GT Speed, to see if it can be faster than one of the WRC cars (with the help of Kris Meeke behind the wheel). Elsewhere, Clarkson builds a smaller car than the Peel P50, the P45, and sees how good it is before putting before the 'Dragon' of Dragons' Den, and Damian Lewis takes his turn in the Kia Cee'd, around a snowy test track.
148
2 Series 19, Episode 2 None Supercar road trip from Las Vegas, Nevada to Calexico, California: (Lexus LFA • SRT Viper • Aston Martin Vanquish) Mick Fleetwood 3 February 2013 (2013-02-03) 6.42[nb 2]
The trio head out for a road trip across Nevada and California, each taking with them a supercar they think is the best - Clarkson believes it is the Lexus LFA, May roots for the new Aston Martin Vanquish, and Hammond seeks to show it is the SRT Viper. Starting from the Valley of Fire, the trio visit Las Vegas and the Las Vegas Motor Speedway to race their cars in drag races organised by the Las Vegas Metropolitan Police Department, visit the Civic Musical Road, play an aerial version of Laser Quest at the Willow Springs International Motorsports Park, and head for Los Angeles where they get into trouble while doing "elevens" and "donuts" at the Sepulveda Dam. The trio conclude their trip with a race from Palm Springs to Calexico at the Mexican border, with the last presenter to arrive having to cross the border and review the country's first supercar for a later episode. Elsewhere Mick Fleetwood of Fleetwood Mac is the latest star to drive the Kia around the track.
149
3 Series 19, Episode 3 Toyota GT86 / Subaru BRZ • Shelby Mustang GT500 Epic race from Wembley to the San Siro stadium in Milan: Shelby Mustang GT500 vs. the pan-European rail network Amy Macdonald 10 February 2013 (2013-02-10) 6.36[nb 3]
The producers have reserved a single ticket to a football match in Milan, Northern Italy, so the trio see who get it first by racing from the Wembley Stadium in London to the San Siro in Milan, although this time, the car may have a real challenge, since trains have gotten faster and Channel crossing have gotten slower since their last epic race. While Hammond and May opt to work together until Milan and then compete against each other towards the finish line, Clarkson, who is told he must not choose an expensive, high performance car for the race, sees if he can beat them in the Shelby Mustang GT500, a car named after Carroll Shelby, who was able to see the new Mustang before his death. Meanwhile, Clarkson tests out how good a sports car the Toyota GT86 is, and Amy Macdonald drives the Kia Cee'd around the test track.
Note: During the 'Epic Race to Milan' film, Clarkson paid tribute to Shelby, who died the previous year, with a small segment that detailed his early life and his involvement with the AC Cobra and the Mustang line for Ford, including the GT500.
150
4 Series 19, Episode 4 Mastretta MXT in Mexico • Hot hatchbacks: (Ford Focus ST • Renault Megane RenaultSport Cup 265 • Vauxhall Astra VXR) Rugby match with Kia Cee'ds at Twickenham Lewis Hamilton • Matt Le Blanc • Eric Clapton • Bruce Willis & Awards 2012 17 February 2013 (2013-02-17) 5.39[nb 4]
A trio of hot hatches hit the track to see which is best - the Vauxhall Astra VXR, the Ford Focus ST and the Renault Megane RenaultSport Cup 265. Meanwhile, the presenter who got sent to Mexico reviews the country's first supercar, the Mastretta MXT, Clarkson tests out the new Kia Cee'd in a variety of tests before competing against May in a game of "Car Rugby" at Twickenham Stadium, and Lewis Hamilton is back to see if he can be faster in the old Liana.
151
5 Series 19, Episode 5 Range Rover Design a vehicle for the elderly ("Rover James"/Fiat Multipla) • Range Rover vs an autonomous military machine James McAvoy 24 February 2013 (2013-02-24) 6.45[nb 5]
Clarkson and Hammond believe that elderly people would be better on the road if they had a car designed especially for them, so the pair make one out of a Fiat Multipla with many things that an elderly driver will like, before testing how well their creation fares by taking it to Christchurch, Dorset, and borrowing a few elderly ladies to tell them what they think. Meanwhile, May tests out the new Range Rover in London, before heading to the Nevada Automotive Test Centre in Nevada, to see how good it is off-road in a 10 miles (16 kilometres) race against a autonomous military machine, the TerraMax, and James McAvoy drives around the track as the latest star in the Kia Cee'd.
Note: The trio gave their thanks and respect for Richard Briers in the studio before the episode ended, who provided his voice for the Sat-Nav system of Clarkson and Hammond's creation in the 'Making a Car for Elderly People' film. He died a week before the episode's broadcast.
152
SP-Pt1 "Africa Special" Part 1 N/A Find source of the Nile: (BMW 528i Touring • Subaru Impreza WRX Estate • Volvo 850R Estate) N/A 3 March 2013 (2013-03-03) 7.33[nb 6]
In a two-part special, the boys head to Africa to see if they can find the source of the River Nile, each taking with them a second-hand estate cars they bought in Britain on a budget of £1,500 - Clarkson believe he can find the source with the help of his BMW 528i Touring, Hammond sees if he can find it in the sporty Subaru Impreza WRX Estate he brought along, and May wisely shows he will discover it from his Volvo 850R Estate. On an epic journey around Lake Victoria, which Victorian Explorers thought was the source of the Nile, the first part sees the trio setting off west from their starting point in Uganda towards Lake Edward, visiting Entebbe Airport, getting stuck in heavy traffic in Uganda's capital of Kampala, explore the village of Jezza in the Mpigi District, convert their cars into mobile campers, before reaching the lake and seeing if they can find a river flowing into it from Lake Kivu. When their initial theory on the source is broken after their search around Edward, the trio soon have another and begin heading towards Tanzania and the Serengeti.
153
SP-Pt2 "Africa Special" Part 2 N/A Find source of the Nile: (BMW 528i Touring • Subaru Impreza WRX Estate • Volvo 850R Estate) N/A 10 March 2013 (2013-03-10) 7.48[nb 7]
The trio continue on their search for the source of the River Nile, heading for Tanzania after their initial theory about it being somewhere around Lake Kivu could not be proved based on physical evidence. Now believing that the Nile's mouth is not at Alexandria but where the Mediterranean Sea meets the Atlantic Ocean, and that the source must be somewhere east of Lake Victoria, the trio are en route for the Serengeti where they believe the source will be found. In the second part, the presenters brave their way over muddy tracks and rough dirt roads, repairing their cars broken or missing parts with "procured" replacements, while heading towards Tanzania, via Rwanda. Along the way they enjoy stunning scenery, create a ferry to get across a river, cross Lake Victoria with a proper ferry, and begin making their way through the Serengeti, following a river that will lead them to the source, and encountering one more obstacle in the form of a "car-killing" road. Finally, upon making camp for the last time, the trio opt to see who will be remembered and who will be forgotten, by racing against each to see who can find the source of the Nile.
Note: For the end credits of the second part, each crew member's first name is replaced with "Dr.", with their surname followed by ", I Presume?" (e.g. "Dr. Clarkson, I Presume?", "Dr. Hammond, I presume?", etc.)
Criticism and Controversy[edit]
Toyota GT86 and Subaru BRZ Reviews film[edit]
During his reviews of the Toyota GT86 and the Subaru BRZ, Jeremy Clarkson attempted to see which one he would pick through the use of the eeny meeny miny moe rhyme. Following accusations of racism made against Clarkson for use of "Slope" comment in the Burma Special, British newspaper The Daily Mirror revealed video evidence that in his use of the rhyme with the GT86 and BRZ, he was noted as mumbling the word "nigger", which was historically a part of the rhyme's earlier versions; in the aired version of the review, the word "teacher" was used instead of the racial epithet of the unaired version that surfaced. While Clarkson denied the incident at first, he eventually issued an apology following the evidence's appearance. In his apology, he stated that he was "extremely keen" to avoid using the word, and that he had to do three takes with the film, adding that he was "mortified" that he appeared to actually mumble the word and that he did everything he could to avoid it being transmitted on the show. He further proved this was the case with a note he sent to the production office, which read:[3]
"I didn't use the N-word here but I've just listened through my headphones and it sounds like I did. Is there another take that we could use?",
This incident was one of two reasons that led to the BBC ultimately giving Clarkson a "final warning" in regards to the corporation's views on racist remarks.[4]
Notes[edit]
The viewing figures shown in the Episode Table above, are a combination of the figures from the BBC Two broadcast and the BBC HD broadcast.
Jump up ^ 5.47 million on BBC Two, 1.18 million on BBC HD
Jump up ^ 5.02 million on BBC Two, 1.4 million on BBC HD.
Jump up ^ 5.01 million on BBC Two, 1.35 million on BBC HD.
Jump up ^ 3.92 million on BBC Two, 1.39 million on BBC HD.
Jump up ^ 5.00 million on BBC Two, 1.45 million on BBC HD.
Jump up ^ 5.85 million on BBC Two, 1.48 million on BBC HD.
Jump up ^ 5.89 million on BBC Two, 1.59 million on BBC HD.
References[edit]
Jump up ^ "Top Gear Series 19, Episode 1, review". Daily Telegraph. 27 January 2013. Retrieved 30 January 2013.
Jump up ^ "Weekly Top 10 Programmes". Broadcasters' Audience Research Board.
Jump up ^ https://www.theguardian.com/media/2014/may/01/jeremy-clarkson-begs-forgiveness-n-word-top-gear
Jump up ^ http://www.mirror.co.uk/news/uk-news/video-watch-jeremy-clarkson-use-3481201
External links[edit]
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Initial public offering of Facebook
From Wikipedia, the free encyclopedia
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The social networking company Facebook held its initial public offering (IPO) on Friday, May 18, 2012.[1] The IPO was the biggest in technology and one of the biggest in Internet history, with a peak market capitalization of over $104 billion. Media pundits called it a "cultural touchstone."[2]
Contents
[hide]
1 Context
2 Preparation
2.1 Filing and roadshow
2.2 Valuation
2.2.1 Price targets
2.2.2 Analysis of fundamentals
3 Public trading
3.1 First day
3.2 Subsequent days
4 Aftermath
4.1 Financial
4.2 Legal
4.3 Regulatory
4.3.1 Secondary exchanges
4.4 Reputational
5 References
Context[edit]
Facebook founder Mark Zuckerberg resisted buyout offers, suggesting the company was "definitely in no rush."
For years, Facebook and Zuckerberg resisted both buyouts and taking the company public. The main reason that the company decided to go public is because it crossed the threshold of 500 shareholders, according to Reuters financial blogger Felix Salmon.[3]
Facebook reportedly turned down a $75 million offer from Viacom in 2006.[4] That same year, Yahoo! attempted to buy the company for $1 billion but Zuckerberg refused.[5] Also that year, BusinessWeek reported a $2 billion valuation for the company.[6]
Facebook did accept investments from companies, and these investments suggested fluctuating valuations for the firm. In 2007 Microsoft beat out Google to purchase a 1.6% stake for $240 million, giving Facebook a notional value of $15 billion at the time.[5] Microsoft purchased preferred stock, which meant that the company's actual valuation would be considerably lower than $15 billion.[7] Meanwhile, that valuation dropped to $10 billion in 2009, when Digital Sky Technologies bought a nearly 2% stake for $200 million[8] - a larger stake than Microsoft had purchased at a lower price. An investment report in 2011 valued the company at $50 billion.[9]
Zuckerberg wanted to wait to conduct an initial public offering, saying in 2010 that "we are definitely in no rush."[10] But since by 2012 Facebook had more than 500 round lot (over 100 shares) stockholders, Facebook was subject to the SEC disclosure rules starting the next year, 2013. Zuckerberg had little choice as to whether an IPO had to be done at once.
Preparation[edit]
Filing and roadshow[edit]
Facebook filed for an initial public offering on February 1, 2012 by filing their S1 document with the Securities and Exchange Commission (SEC).[11] The preliminary prospectus announced that the company had 845 million active monthly users and that its website featured 2.7 billion daily likes and comments.[12] The filing noted that the company's increases in membership, as well as its incomes, were slowing and that the deceleration was likely to continue.[13]
To ensure that early investors would retain control of the company, Facebook in 2009 instituted a dual-class stock structure.[10] After the IPO, Zuckerberg was to retain a 22% ownership share in Facebook and was to own 57% of the voting shares.[14] The document also stated that the company was seeking to raise US$5 billion, which would make it one of the largest IPOs in tech history and the biggest in Internet history.[15]
The roadshow faced a "rough start" initially.[16][17] Zuckerberg raised controversy for wearing a hoodie (rather than a customary business suit) to the first meeting with investors.[18] Wedbush Securities analyst Michael Pachter called it a "mark of immaturity."[18] A half-hour-long video played during that meeting also frustrated investors who wanted to discuss more technical details,[17] and was dropped for future meetings.[19]
Valuation[edit]
Facebook's valuation steadily increased in the days leading up to the IPO.
Prior to the official valuation, the target price of the stock steadily increased. In early May, the company was aiming for a valuation somewhere from $28 to $35 per share[20][21] ($77 billion to $96 billion).[22] On May 14, it raised the targets from $34 to $38 per share.[23] Some investors even suggested a $40 valuation, although a dip in the stock market on the day before the IPO ended such speculation.[24]
Strong demand, especially from retail investors, suggested Facebook could choose a relatively high offering price.[24] Ultimately underwriters settled on a price of $38 per share, at the top of its target range.[24] This price valued the company at $104 billion, the largest valuation to date for a newly public company.[25]
On May 16, two days before the IPO, Facebook announced that it would sell 25% more shares than originally planned due to high demand.[26] This meant the stock would debut with 421 million shares.[24]
The Facebook IPO brought inevitable comparisons with other technology company offerings. Some investors expressed keen interest in Facebook because they felt they had missed out on the massive gains Google saw in the wake of its IPO.[24] LinkedIn stock, meanwhile, had doubled on its first day.[24]
At $26.81 per share, which Facebook closed at a week after its IPO, Facebook was valued like "an ultra-growth company," according to Robert Leclerc of the Financial Post. Its PE ratio was 85, despite a decline in both earnings and revenue in the first quarter of 2012.[27]
A number of commentators argued retrospectively that Facebook had been heavily overvalued because of an illiquid private market on SecondMarket, where trades of stock were minimal and thus pricing unstable. Facebook's aggregate valuation went up from January 2011 to April 2012, before plummeting after the IPO in May - but this was in a largely illiquid market, with less than 120 trades each quarter during 2010 and 2011. "Valuations in the private market are going to make it 'difficult to go public'", according to Mary Meeker, an American venture capitalist and former Wall Street securities analyst.[28]
Price targets[edit]
Prior to the IPO, several investors set price targets for the company. On May 14, before the offering price was announced, Sterne Agee analyst Arvind Bhatia pegged the company at $46 in an interview with The Street.[20] The interviewer cautioned Bhatia against what she perceived as Bhatia's low valuation, suggesting the stock could rise to "60, 70, 80 dollars" and could shoot up to $60 on the first day of trading.[20] On May 17, the day before the offering, analyst Jim Krapfel of Morningstar suggested that only a 50% or better increase on the first day would be seen positively; "anything under that would be underwhelming."[24] Lee Simmons of Dun & Bradstreet predicted more modest first-day gains, in the range of 10 to 20%.[24] No analysts Reuters interviewed projected a first-day decrease.[24] Others were less optimistic. Much of Wall Street expressed concerns over what it saw as a high valuation. Citing the price-to-earnings ratio of 108 for 2011, critics stated that the company would have to undergo "almost ridiculous financial growth [for the valuation] to make sense."[13] Other companies trade at far lower ratios, although there are notable exceptions. Writers at TechCrunch expressed similar skepticism, stating, "That's a big multiple to live up to, and [Facebook] will likely need to add bold new revenue streams to justify the mammoth valuation".[29]
Early investors themselves were said to express similar skepticism. Warning signs before the IPO indicated that several such investors were interested in selling their shares of the company.[22] Accel Partners planned to offload as many as 28% of their shares, while Goldman Sachs was ready to sell up to 50% of theirs.[22] Rolfe Winkler of the Wall Street Journal suggested that, given insider worries, the public should avoid snapping up the stock.[22] Facebook employees were less concerned, with Mark Zuckerberg planning to sell just 6%.[22]
Analysis of fundamentals[edit]
Striking an optimistic tone, The New York Times predicted that the offering would overcome questions about Facebook's difficulties in attracting advertisers to transform the company into a "must-own stock". Jimmy Lee of JPMorgan Chase described it as "the next great blue-chip".[30]
Some analysts expressed concern over Facebook's revenue model; namely, its advertising practices.[13] Brian Wieser of Pivotal Research Group argued that, "Although Facebook is very promising, it's an unproven ad model."[13] To better monetize user involvement, the company could improve advertising.[13] Yet such efforts could undermine user privacy.[13] Also, some advertisers expressed concern over the value of the advertisements they purchased on Facebook.[13] General Motors announced it would pull its $10 million campaign from the social network just days before the IPO.[24] The automobile company asked for "bigger, flashier" advertisements but Facebook refused.[31]
Public trading[edit]
In the immediate build-up to the offering, public interest swelled. Some said it is "as much a cultural phenomenon as it is a business story."[24] Meanwhile, Facebook itself celebrated the occasion with an all-night "hackathon" on the night before the IPO.[32] Zuckerberg rang a bell from Hacker Square on Facebook campus in Menlo Park, California, to announce the offering, as is customary for CEOs on the day their companies go public.[32]
First day[edit]
An electronic billboard on the Thomson Reuters building welcomes Facebook to the Nasdaq.
Trading was to begin at 11:00am Eastern Time on Friday, May 18, 2012. However, trading was delayed until 11:30am Eastern Time due to technical problems with the NASDAQ exchange.[33][34] Those early jitters would foretell ongoing problems; the first day of trading was marred by numerous technical glitches that prevented orders from going through,[35] or even confused investors as to whether or not their orders were successful.[33]
Initial trading saw the stock shoot up to as much as $45.[33] Yet the early rally was unsustainable. The stock struggled to stay above the IPO price for most of the day, forcing underwriters to buy back shares to support the price.[36] Only the aforementioned technical glitches and underwriter support prevented the stock price from falling below the IPO price on the first day of trading.[37]
At closing bell, shares were valued at $38.23,[38] only $0.23 above the IPO price and down $3.82 from the opening bell value. The opening was widely described by the financial press as a disappointment.[39]
Despite technical problems and a relatively low closing value, the stock set a new record for trading volume of an IPO (460 million shares).[40] The IPO also ended up raising $16 billion, making it the third largest in U.S. history (just ahead of AT&T Wireless and behind only General Motors and Visa Inc.).[30][41] The stock price left the company with a higher market capitalization than all but a few U.S. corporations – surpassing heavyweights such as Amazon.com, McDonald's, Disney, and Kraft Foods – and made Zuckerberg's stock worth $19 billion.[30][41]
Subsequent days[edit]
Facebook's share value fell during nine of the next thirteen trading days, posting gains during just four.[42] The next day of trading after the IPO (May 21), the stock closed below its offering price, at $34.03.[42] The stock saw another large loss the next day, closing at $31.00.[42] A 'circuit breaker' was used in an attempt to slow down the decline in the stock price.[43] The stock increased modestly in coming days, and Facebook closed its first full week of trading at $31.91.[42] The stock returned to losses for most of its second full week, and had lost over a quarter of its starting value by the end of May. This led the Wall Street Journal to call the IPO a "fiasco."[44] The stock closed its second full week of trading on June 1 at $27.72. By June 6 investors had lost $40 billion.[45] Facebook ended its third full week at $27.10, slightly lower than a week previous.[46] The company finished its fourth full week with an increase to $30.01, its first weekly gain.[47]
Significant price moves
Trading days
after IPO
Date
Share price at
market close
Market
capitalization
Daily
change
Net change from
offering price
Notable Event
Offering
price May 18,
2012 $38.00[42] ~$90B[48] N/A N/A IPO
First
day May 18 $38.23[42] ~$90B[48] 0.6% 0.6%
1 May 21 $34.03[42] 11% 10%
2 May 22 $31.00[42] 8.9% 18%
6 May 29 $28.84[42] $69.17B[48] 9.6% 24%
8 May 31 $29.60[42] 5% 22%
9 June 1 $27.72[42] 6.4% 27%
19 June 15 $30.01[42] 6.1% 21%
68 August 20 $20.011[42] 5.04% 47%
578 December 20, 2013 $55.12[42] $140B 0.13% 45% Facebook joins S&P 500 index
642 February 19, 2014 $68.06[49] $173.35B 1.13% 79% WhatsApp Purchase Announcement
Price targets for the new stock ranged considerably. On June 4, seven of fifteen analysts polled by FactSet Research suggested prices above the stock's price, effectively advising a "buy."[50] Four of fifteen suggested a "hold," while another four of fifteen suggested "sell."[50] Sanford Bernstein was the lowest of the group, pegging the stock at $25.[50]
On December 11, 2013, Standard & Poor's announced that Facebook would join its S&P 500 index "after the close of trading on December 20," Reuters reported.[51]
Aftermath[edit]
Financial[edit]
The IPO had immediate impacts on the stock market. Other technology companies took hits, while the exchanges as a whole saw dampened prices. Investment firms faced considerable losses due to technical glitches. Bloomberg estimated that retail investors may have lost approximately $630 million on Facebook stock since its debut.[52] UBS alone may have lost as much as $350 million.[53] The Nasdaq stock exchange offered $40 million to investment firms plagued by offering-day computer glitches.[33] While considerably higher than the usual $3 million limit on reimbursements, it was unlikely to make up for large investor losses.[33] Additionally, the rival New York Stock Exchange lampooned the move as a "harmful precedent" and an unnecessary subsidy in the wake of Nasdaq's missteps.[33] Nasdaq claimed to fix the problems that beset the offering, and hired IBM for a technical review.[33]
The IPO impacted both Facebook investors and the company itself. It was said to provide healthy rewards for venture capitalists who finally saw the fruits of their labor.[13] In contrast, it was said to negatively affect individual investors such as Facebook employees, who saw once-valuable shares become less lucrative.[13] More generally, the disappointing IPO was said to lower interest in the stock by investors.[13] That would make it more difficult for the company to accumulate cash reserves for large future expenditures such as acquisitions.[13] CBS News said "the Facebook brand takes a pretty big hit for this," mostly because of the public interest that had surrounded the offering.[45]
Some suggested implications for companies other than Facebook specifically. The IPO could jeopardize profits for underwriters who face investors skeptical of the technology industry.[13] In the long-run, the troubled process "makes it harder for the next social-media company that wants to go public."[13] While the Wall Street Journal called for a broad perspective on the issue, they agreed that valuations and funding for future startup IPOs could take a hit.[54] Online travel company Kayak.com delayed its IPO roadshow in the wake of Facebook's troubles.[45] Analyst Trip Chowdhry suggested an even broader conclusion with regards to IPOs, arguing "that hype doesn't sell anymore, short of fundamentals."[13] CBS News compared the situation to the dot-com bubble, warning that "You'd think we all would have learned our lesson" from that period of overvaluation.[45]
While expected to provide significant benefits to Nasdaq, the IPO resulted in a strained relationship between Facebook and the exchange.[55] Facebook has considered moving its listing to a competing exchange.[55]
Legal[edit]
More than 40 lawsuits were filed regarding the Facebook IPO in the month that followed.[56]
Reuters' Alistair Barr reported that Facebook's lead underwriters, Morgan Stanley (MS), JP Morgan (JPM), and Goldman Sachs (GS) all cut their earnings forecasts for the company in the middle of the IPO roadshow.[57] Some[who?] have filed lawsuits, alleging that an underwriter for Morgan Stanley selectively revealed adjusted earnings estimates to preferred clients. The remaining underwriters (MS, JPM, GS) and Facebook's CEO and board are also facing litigation.[58] It is believed that adjustments to earnings estimates were communicated to the underwriters by a Facebook financial officer, who in turn used the information to cash out on their positions while leaving the general public with overpriced shares.[59]
Additionally, a class-action lawsuit is being prepared[by whom?] due to the trading glitches, which led to botched orders.[60][61] Apparently, the glitches prevented a number of investors from selling the stock during the first day of trading while the stock price was falling - forcing them to incur bigger losses when their trades finally went through.
In June 2012, Facebook asked for all the lawsuits to be consolidated into one, because of overlap in their content.[56]
Morgan Stanley settled allegations of improperly influencing research analysts for $5 million in December 2012.
Regulatory[edit]
Facebook's IPO is now under investigation and has been compared to pump and dump schemes.[13][35][57][62] Government officials called for investigations in the following weeks. Securities and Exchange Commission Chairman Mary Schapiro and Financial Industry Regulatory Authority (FINRA) Chairman Rick Ketchum called for a review of the circumstances surrounding the troubled IPO.[62] On 22 May, regulators from Wall Street's Financial Industry Regulatory Authority announced that they had begun to investigate whether banks underwriting Facebook had improperly shared information only with select clients, rather than the general public. Massachusetts Secretary of State William Galvin subpeonaed Morgan Stanley over the same issue.[63] The allegations sparked "fury" among some investors and led to the immediate filing of several lawsuits, one of them a class action suit claiming more than $2.5 billion in losses due to the IPO.[64]
Secondary exchanges[edit]
Before the creation of secondary market exchanges like SecondMarket and SharesPost, shares of private companies had very little liquidity; however, this is no longer the case. Facebook employees had been finding private buyers to unload their shares as early as 2007, and when SharesPost launched in 2009, early employees started exiting en masse. Class B shares of Facebook traded as high as $44.50/share ($46.30/share after commissions) on SharesPost prior to the IPO.
Reputational[edit]
The reputation of both Morgan Stanley, the primary IPO underwriter, and NASDAQ were damaged in the fallout from the botched offering.
In interviews with the media, bankers seemed sanguine about the outcome. "We think Morgan has done pretty well on the deal," one person at a bank that was one of Facebook's other underwriters told CNN Money. "Reputation of the bank aside, Facebook hasn't been a bad trade for Morgan." This is because even as the share prices dropped Morgan "racked up big profits" trading the shares.[65]
Morgan's reputation in technology IPOs was "in trouble" after the Facebook offering. Underwriting equity offerings became an important part of Morgan's business after the financial crisis, generating $1.2 billion in fees since 2010. But by signing off on an offering price that was too high, or attempting to sell too many shares to the market, Morgan compounded problems, senior editor for CNN Money Stephen Gandel writes. According to Brad Hintz, an analyst at Sanford Bernstein, "this is something that other banks will be able to use against them when competing for deals."[66]
References[edit]
Jump up ^ Bultman, Matt. "Facebook IPO to Make Dobbs Ferry's Mark Zuckerberg a $24 Billion Man". The Greenburgh Daily Voice. Retrieved 18 July 2012.
Jump up ^ Warren Olney, "Facebook IPO: A Touchstone Cultural Moment for America?", KCRW.com, May 17, 2012
Jump up ^ Felix Salmon, "Facebook: The smart money exits," Reuters, May 16, 2012. Salmon writes that the reason it had more than 500 shareholders is because "early investors, including Accel and DST, have been selling down their stakes in private markets for some years now."
Jump up ^ WebPorNews Staff, Facebook Sees $25M From Greylock, April 19, 2006
^ Jump up to: a b Associated Press, Microsoft invests $240 million in Facebook, 10/24/2007
Jump up ^ Steve Rosenbush and Timothy J. Mullaney, Social Networking's Gold Rush, April 18, 2006
Jump up ^ Ina Fried , Microsoft and Facebook: The $240 million poke, October 24, 2007
Jump up ^ Ina Fried, Facebook investment puts spotlight on Microsoft stake, May 26, 2009
Jump up ^ SUSANNE CRAIG AND ANDREW ROSS SORKIN, Goldman Offering Clients a Chance to Invest in Facebook, JANUARY 2, 2011
^ Jump up to: a b "Zuckerberg: 'No Rush' to Facebook IPO". PC Magazine.
Jump up ^ "Form S-1 Registration Statement Under The Securities Act of 1933". February 1, 2012. Retrieved May 18, 2012.
Jump up ^ Erickson, Christine (February 3, 2012). "Facebook IPO: The Complete Guide". Mashable business. Retrieved March 23, 2012.
^ Jump up to: a b c d e f g h i j k l m n o Facebook IPO underscores shutting out the masses. sfgate.com
Jump up ^ Helft, Miguel; Hempel, Jessi (March 19, 2012). "Inside Facebook". Fortune. 165 (4): 122. Retrieved April 3, 2012.
Jump up ^ "Facebook Officially Files for $5 Billion IPO". KeyNoodle. February 1, 2012. Retrieved February 1, 2012.
Jump up ^ "Rough Start to Facebook IPO Tour;". NBC Bay Area.
^ Jump up to: a b "Facebook IPO: Why Don't We Do It in the Roadshow?". PC Magazine.
^ Jump up to: a b "Zuckerberg's Hoodie a 'Mark of Immaturity,' Analyst Says". Bloomberg.
Jump up ^ https://www.cnbc.com/id/47341613
^ Jump up to: a b c http://www.thestreet.com/video/11531984/sterne-agee-gives-facebook-46-price-target.html | title= Facebook rises IPO price
Jump up ^ http://www.forexdice.com/facebook-increases-ipo-price-target-to-generate-12/658061/
^ Jump up to: a b c d e "Goldman, Other Investors Pile Out of Facebook". The Wall Street Journal. May 16, 2012.
Jump up ^ "Facebook rises IPO price range". The Wall Street Journal.
^ Jump up to: a b c d e f g h i j k "Facebook prices at top of range in landmark IPO". Reuters. May 17, 2012.
Jump up ^ Andrew Tangel; Walter Hamilton (May 17, 2012). "Stakes are high on Facebook's first day of trading". The Los Angeles Times. Archived from the original on May 18, 2012. Retrieved May 17, 2012.
Jump up ^ "Facebook boosts number of shares on offer by 25%". BBC News. May 16, 2012. Retrieved May 17, 2012.
Jump up ^ Robert Leclerc, "Overvaluing Facebook", Financial Post, June. 7, 2012
Jump up ^ Felix Salmon, "Facebook's SecondMarket muppets," Reuters, May 30, 2012
Jump up ^ Doug Gross (March 17, 2012). "Internet greets Facebook's IPO price with glee, skepticism". CNN. Retrieved May 17, 2012.
^ Jump up to: a b c Evelyn M. Rusli; Peter Eavis (May 17, 2012). "Facebook Raises $16 Billion in I.P.O." The New York Times. Retrieved May 17, 2012.
Jump up ^ Bercovici, Jeff. "Reason why Facebook don't want to give GM what they want". Forbes.
^ Jump up to: a b "Trickle-down Zuckonomics and the Facebook IPO hackathon". CNET. CBS Interactive. 17 May 2012.
^ Jump up to: a b c d e f g "NASDAQ paid 40m to investors ensnared by trading glitches" (in French). 2 March 2015.
Jump up ^ Jenny Straburg; Jacob Bunge (May 18, 2012). "Trading Problems Persisted After Opening for Facebook's IPO". The Wall Street Journal. Retrieved May 18, 2012.
^ Jump up to: a b Tepid honeymoon of facebook and nasdaq does not deliver the big bang. forbes.com
Jump up ^ Jacob Bunge; Jenny Strasburg; Ryan Dezember (May 18, 2012). "Facebook Falls Back to IPO Price". The Wall Street Journal. Retrieved May 18, 2012.
Jump up ^ Regulators probe banks role Facebook IPO. news.yahoo.com
Jump up ^ Michael J. De La Mercred (May 18, 2012). "Facebook Closes at $38.23, Nearly Flat on Day". The New York Times. Retrieved May 18, 2012.
Jump up ^ Jolie O'Dell (May 18, 2012). "Facebook disappoints on its opening day, closing down $4 from where it opened". Venture Beat. Retrieved May 18, 2012.
Jump up ^ "Facebook Sets Record For IPO Trading Volume". The Wall Street Journal. May 18, 2012. Archived from the original on May 22, 2012. Retrieved May 18, 2012.
^ Jump up to: a b Bernard Condon (May 17, 2012). "Questions and answers on blockbuster Facebook IPO". U.S. News. Associated Press. Retrieved May 17, 2012. [permanent dead link]
^ Jump up to: a b c d e f g h i j k l m n https://www.washingtonpost.com/business/technology/ups-and-downs-how-facebook-stock-has-traded-since-long-awaited-public-offering/2012/06/07/gJQAmOR2LV_story.html. Missing or empty |title= (help)[dead link]
Jump up ^ Another Facebook First: Tripping a Circuit-Breake. WSJ Online
Jump up ^ "Facebook IPO Facts, Fiction and Flops". The Wall Street Journal.
^ Jump up to: a b c d "Did Ipo damaged Facebook brand". CBS News.
Jump up ^ https://www.cnbc.com/id/47741929
Jump up ^ http://www.sacbee.com/2012/06/15/4565475/facebooks-stock-enjoys-first-positive.html
^ Jump up to: a b c Schaefer, Steve. "Facebook's fall in 7 days". Forbes.
Jump up ^ "Facebook Inc: NASDAQ:FB quotes & news - Google Finance".
^ Jump up to: a b c "Facebook Hit With $25 Price Target From Bernstein". The Wall Street Journal. June 4, 2012.
Jump up ^ "Facebook to join S&P 500". Reuters. December 11, 2013. Retrieved 17 December 2013.
Jump up ^ Eichler, Alexander (May 24, 2012). "Wall St. Cashes In On Facebook Stock Plunge While Ordinary Investors Lose Millions". Huffington Post.
Jump up ^ Schaefer, Steve. "Facebook lost 350 million on suit". Forbes.
Jump up ^ Strauss, Karsten. "Ipo future". Forbes.
^ Jump up to: a b Rusli, Evelyn M. (July 1, 2012). "Its I.P.O. Botched, Facebook Looks Hard at Nasdaq". The New York Times.
^ Jump up to: a b Tsukayama, Hayley (June 17, 2012). "Technology". The Washington Post.
^ Jump up to: a b Facebook bankers secretly cut facebook revenue estimates middle. finance.yahoo.com
Jump up ^ Fury Over Facebook IPO Grows. Lawsuits Mount. finance.yahoo.com
Jump up ^ Heres the inside story of what happened on the Facebook IPO www.businessinsider.com
Jump up ^ SEC-FINRA review Facebook issues. finance.yahoo.com
Jump up ^ Morgan Stanley sued firm. yahoo.com
^ Jump up to: a b Facebook shares fall valuation doubts. finance.yahoo.com
Jump up ^ Evelyn M. Rusli and Michael J. De La Merced (22 May 2012). "Facebook I.P.O. Raises Regulatory Concerns". The New York Times. Retrieved 22 May 2012.
Jump up ^ James Temple; Casey Newton (23 May 2012). "Litigation over Facebook IPO just starting". The San Francisco Chronicle. Retrieved 24 May 2012.
Jump up ^ Stephen Gandel, CNN Money "Morgan Stanley made money on Facebook share drop", May 24, 2012.
Jump up ^ Stephen Gandel, "Facebook IPO blunder adds to Morgan Stanley woes," CNN Money, May 23, 2012
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Rings of Power
From Wikipedia, the free encyclopedia
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For other uses, see Power ring (disambiguation).
This Middle-earth-related article describes a work or element of fiction in a primarily in-universe style. Please help rewrite it to explain the fiction more clearly and provide non-fictional perspective. (February 2011) (Learn how and when to remove this template message)
The Rings of Power in J. R. R. Tolkien's Middle-earth legendarium are magic rings created by Sauron or by the Elves of Eregion under Sauron's tutelage. Sauron intended three of the rings to be worn by Elves, Seven by Dwarves, Nine by Men, and one, the One Ring, by Sauron himself in Mordor.
Sauron intended the rings to subvert these races of Middle-earth to his power, since the One Ring controlled the others. Sauron's plan was not completely successful, for the Elves hid their rings and did not use them while Sauron held the One, and the Dwarves did not respond to the One's control as Sauron expected. But the Men who wore the Nine were enslaved by Sauron, and became the Nazgûl ("ringwraiths").
Tolkien's The Lord of the Rings is largely concerned with the attempt of Sauron to recover the One and the efforts of the West to forestall him by destroying it. The One is destroyed near the end of the War of the Ring when it falls into the Cracks of Doom in Orodruin, along with Gollum, who had bitten off Frodo’s finger on which he was wearing the Ring. Tolkien is not entirely clear about what happened to the other rings, though he implied that the power of any that survived came to an end. After the War of the Ring, the three Elven Rings were taken by their bearers over the sea to the Undying Lands.
Contents
1 Literature
1.1 The making of the rings
1.1.1 The Verse of the Rings
1.2 The Nine
1.3 The Seven
1.4 The Three
1.5 The One
2 Adaptations
3 See also
4 References
4.1 General references
Literature[edit]
The making of the rings[edit]
Tolkien's essay "Of the Rings of Power and the Third Age" in The Silmarillion gives the background of the making of the rings.[1] At the end of the First Age, Sauron evaded the call of the Valar to surrender, and fled to Middle-earth. Midway through the Second Age he came in disguise as Annatar ("Lord of Gifts") to the Elven-smiths of Eregion, who were led by Celebrimbor, and taught them the craft of forging magic rings. Tolkien writes that the Elves made many lesser rings as essays in the craft,[2] but eventually with Sauron's assistance they forged the Seven and the Nine. The Three were made by Celebrimbor himself without Sauron's assistance; they remained unsullied by his touch.
Sauron returned to Mordor, and in his forge in Mount Doom he made the One Ring, imbuing it with a large portion of his power. Its purpose was to dominate and command the wearers of the other Rings. However, when Sauron put on the One Ring and recited the incantation inscribed on it, the Elves became aware of him, and understood who he was and his purpose. The words he spoke are in the language that Westron speakers call the Black Speech:
The inscription on the One Ring is a Tengwar rendering of the language known as Black Speech.
Ash nazg durbatulûk,
Ash nazg gimbatul,
Ash nazg thrakatulûk
Agh burzum-ishi krimpatul.
One Ring to rule them all,
One Ring to find them,
One Ring to bring them all,
And in the darkness bind them.
When the Elves wearing the rings discerned Sauron's intention, they immediately removed them and hid them. Sauron invaded the West to recover the rings that the Elves had made; much of the West, including Eregion, was destroyed before he was driven back to Mordor. Sauron recovered the Nine and three of the Seven, but not the Three Elven Rings, which remained hidden.
The Verse of the Rings[edit]
The words inscribed on the One Ring come from the following verse, which describes 20 of the Rings of Power:
Three Rings for the Elven-kings under the sky,
Seven for the Dwarf-lords in their halls of stone,
Nine for Mortal Men doomed to die,
One for the Dark Lord on his dark throne,
In the Land of Mordor where the Shadows lie,
One ring to rule them all, one ring to find them,
One ring to bring them all and in the darkness bind them
In the Land of Mordor where the Shadows lie.
— The Lord of the Rings, Epigraph
The Nine[edit]
Main article: Nazgûl
Later in the Second Age, Sauron gave the Nine to powerful men, "kings, sorcerers, and warriors of old".[3] All of them fell under the rings' dominance, and they became the Nazgûl (Ringwraiths), spirits of terror whom Sauron could command even without the One. Their lives were extended indefinitely by the rings, and they became Sauron's chief servants.
To mortal observers who were not themselves wearing a Ring, a Ring of Power seemed to render the wearer invisible.[2] Although the Nazgûl could not be seen, they emanated an evil presence;[4] their steeds were also visible. When they wished to adopt a noticeable form, they wore dark cloaks over their invisible bodies.
It is not clear whether the Nazgûl kept their rings. Tolkien says both "the Nine the Nazgûl keep"[5] and that Sauron had gathered the Nine to himself,[2] though in the latter case his meaning may be metaphorical. When the Nazgûl are destroyed, no mention is made of their rings.
Only two of the Nazgûl are identified in the texts: the Witch-king of Angmar was the leader of the nine, and his second in command was Khamûl, an Easterling.[6] Khamûl is the only Nazgûl identified by name. Three of the Nine were Númenórean.[7]
The Seven[edit]
Also in the Second Age Sauron gave the Seven to the seven Dwarf-lords (though the Dwarves of Moria maintained a tradition that the ring given to Durin III came directly from the Elven-smiths).[8][9] Gandalf mentions a rumour that the seven hoards of the Dwarves began each with a single golden ring, and although the Dwarves used their rings to increase their treasure, Tolkien does not explain how the rings accomplished this (save for a reference that the rings "need gold to breed gold"). The main power of the Seven on their wearers was to excite their sense of avarice. The wearers did not become invisible, did not get extended life-spans, nor succumb directly to Sauron's control – though he could still influence them to anger and greed.[1]
Over the years, Sauron recovered three rings from the Dwarves, the last from Thráin II during his final captivity in Dol Guldur, some years before the beginning of The Hobbit. The remaining four, according to Gandalf, were consumed by dragons.[2]
Until the Council of Elrond, the Dwarves did not know that Thráin had held the ring of Durin's line and had lost it to Sauron. They thought instead that it might have been lost when Thrór was killed by Azog in Moria.[5] One of the motivations for Balin's doomed expedition to Moria was the possibility of recovering the ring. Sauron's messenger attempted to bribe the Dwarves of Erebor for news of Bilbo (the last known bearer of the One) with the promise of the return of the remaining three of the Seven and control over the Mines of Moria.
The Three[edit]
Main article: Three Rings
The Three Rings of the Elves were called Narya, the Ring of Fire (set with a ruby); Nenya, the Ring of Water or Ring of Adamant (made of mithril and set with a "white stone"), and Vilya, the Ring of Air, the "mightiest of the Three" (made of gold and set with a sapphire).[10]
Before the sack of Eregion, Celebrimbor gave Vilya and Narya to Gil-galad and Nenya to Galadriel. Gil-galad later gave Narya to Círdan, and gave Vilya to Elrond.
The Three remained hidden from Sauron and untouched by him. During the Third Age, after he lost the One, they were used for the preservation and enhancement of three remaining realms of the Eldar. Vilya was used by Elrond in Rivendell, Nenya by Galadriel in Lothlórien, and Narya by Círdan in Lindon. When the Istari, or wizards, arrived about T.A. 1100, Círdan gave Narya to Gandalf, who bore it until the end of the Third Age.
During the period of The Lord of the Rings, the Three were borne by Elrond, Galadriel, and Gandalf; but until the end of the book their rings are not seen. Only Frodo, the bearer of the One, sees Galadriel's ring, and only when she draws his attention to it. At the end of the book, these three take their rings, now visible and powerless, over the sea to the Undying Lands.
Although the Verse of the Rings describes Three Rings for the Elven-kings, the only Elven king who actually held a ring was Gil-galad. He held both Vilya and Narya, but entrusted them to Elrond and Círdan before perishing in Mordor.
The One[edit]
Main article: One Ring
Unlike the other Rings of Power, the One was unadorned. It bore only the inscription of the incantation Sauron spoke when he made it, and even that was invisible unless the ring was heated.[2] Though the other rings could be destroyed in dragon-fire, the One could be unmade only in the unyielding fires of Mount Doom where it was forged.[2]
When Sauron made the ring, he was obliged to transfer much of his power into it so that it could control the other rings, themselves objects of great potency. With the ring, Sauron remained very powerful, and he could use it to dominate the will of others; he very quickly corrupted Númenor into the worship of Melkor and open rebellion against the Valar.
When Isildur cut the ring from his hand, Sauron became much weaker. He required the ring to effect his conquest of Middle-earth, and spent most of the Third Age attempting to get it back.
The ring had a great effect on the human bearers who held it in the interim. It granted them indefinite life; though the effort of living became more difficult as time went on, for it did not grant new life.[2] If they wore it, it made them invisible, enhanced their hearing, and made the shadowy world of the wraiths visible to them. It exerted a malicious influence; Gandalf mentions that though a bearer might begin with good intentions, the good intentions would not last.[2] The Ring would give its bearer a fraction of Sauron's power, proportionate with the bearer's strength and force of will. Gollum, Bilbo, Sam, and Frodo only became invisible, although when Frodo bound Gollum to his service in The Two Towers, he indicated that he could use the Ring to control Gollum (because the Ring had mastered Gollum long ago). Gandalf and Galadriel, however, recognized that they could use the full power of the Ring, becoming even more powerful than Sauron himself, but they resisted, knowing that in the end, the Ring would corrupt them. Gandalf explained to Frodo that, with great concentration and training, even he could tap into the Ring's power, but probably at the cost of his sanity.
The One Ring possessed something of a will of its own. Its only accepted master was Sauron himself, and it would seek to leave any other bearer when it would cause the greatest harm, or when it might return to Sauron. Bilbo warned Frodo of this, and Frodo kept it on a chain so that it would not slip off unnoticed. In the end, Gollum succumbs to the malevolent influence of the ring, defies Frodo, and takes the ring for himself. While dancing with joy over the recovery of the ring, Gollum falls into the Cracks of Doom in Orodruin, where the ring is destroyed. With the destruction of the Ring, Gandalf explains that Sauron is weakened to the point that he will never be able to materialize again.[11]
Adaptations[edit]
Ralph Bakshi's 1978 animated film begins with the forging of the Rings of Power and the events of the Last Alliance's war against Sauron, all portrayed in silhouette against a red background.
Peter Jackson's The Lord of the Rings: The Fellowship of the Ring begins with a similar prologue, though longer and more detailed. The three Elven rings are shown being cast using a cuttlebone mold, an ancient primitive casting technique. Additionally, Tolkien illustrators John Howe and Alan Lee, employed as conceptual designers for the films, have cameos as two of the nine human Ring-bearers who become Nazgûl.
See also[edit]
Middle-earth portal
"Of the Rings of Power and the Third Age"
Magic ring
References[edit]
^ Jump up to: a b Silmarillion, Of the Rings of Power and the Third Age
^ Jump up to: a b c d e f g h Fellowship, The Shadow of the Past
Jump up ^ The Silmarillion, "Of the Rings of Power and the Third Age", p. 289.
Jump up ^ Unfinished Tales, "The Hunt for the Ring", p. 338.
^ Jump up to: a b Tolkien, John Ronald Reuel, "The Council of Elrond", The Fellowship of the Ring .
Jump up ^ Unfinished Tales, "The Hunt for the Ring", p. 338.
Jump up ^ The Silmarillion, "Akallabêth, p. 267.
Jump up ^ The Lord of the Rings, Appendix A, "III. Durin's Folk".
Jump up ^ Unfinished Tales, "The History of Galadriel and Celeborn", p. 238.
Jump up ^ The Return of the King, "The Grey Havens", passim.
Jump up ^ Return of the King, The Last Debate
General references[edit]
Tolkien, J. R. R. (1954), The Fellowship of the Ring, The Lord of the Rings, Boston: Houghton Mifflin (published 1987), ISBN 0-395-08254-4
Tolkien, J. R. R. (1955), The Return of the King, The Lord of the Rings, Boston: Houghton Mifflin (published 1987), ISBN 0-395-08256-0
Tolkien, J. R. R. (1977), Christopher Tolkien, ed., The Silmarillion, Boston: Houghton Mifflin, ISBN 0-395-25730-1
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