As we mentioned last week, Facebook’s IPO (initial public offering) was expected mid May. However, reports are surfacing that it may now be at least June before Facebook has their IPO. Here’s why.

Google Offers, Google’s competitor to Groupon, rolled out in Portland in June, hitting the New York and San Francisco areas last month. This month Google Offers is available in Denver, Seattle, Boston, Austin, and Washington, D.C.., with Atlanta, Baltimore, Chicago, Dallas, Detroit, and Philadelphia to follow shortly, to name just a few. Not to be outdone, Amazon has rolled out Amazon Local, in many of the same cities.

The Securities and Exchange Commission (SEC) was busy fiddling around online while the financial sector burned.  Those are the allegations being leveled against the SEC as a new memo by the Federal Inspector General is released, revealing 31 separate probes of SEC employees porn surfing during the past two years, more than half of whom were senior-level staff, including SEC attorneys.