Here’s the deal: In high-volume stores in New York and New Jersey, sales were rounded up or down to the nearest $0.05. Chipotle has said that it’s a time-saving measure and they don’t make a profit on it (since they round both up and down). But some people got angry about it, so now Chipotle will only round down. Because pennies are that annoying.
Initial Public Offerings: Suspiciously Quiet — The Economist
The theory behind the quiet period is that it ensures all investors have equal access to information because the prospectus is all there is. But the usefulness, and viability, of the quiet period is now being called into question, because of flaws revealed by the recent IPO of Facebook and changes introduced in April by the Jumpstart Our Business Startups (JOBS) Act, intended to cut the cost to growing firms of raising capital.