In recent days it has been reported that JP Morgan Chase has lost approximately two billion dollars. However, new reports indicate otherwise. To borrow a phrase from the Miami Heat of the NBA, JP Morgan Chase has lost not one, not two, not three, not four, not five, but six or seven billion dollars.

Experts who work with the same derivatives that the company used in its trades say that the losses of the company are very likely over $6 billion and could be as high as $7 billion.

One reason the originally reported loss of $2 billion has since escalated has to do with how badly the stock market has done since the Thursday announcement in response.

JP Morgan Chase is now in deep trouble. With the market falling instead of rising, the bonds they previously sold are now even riskier to own. Many of the 125 companies in the JP Morgan Chase IG9 index have dropped in value since Thursday.

It is fair to say that JP Morgan Chase likely will not be doing business in the same fashion that has gotten them into this mess anymore. However, first they must make sure that the company can land on its feet and continue to operate.

In six months time, Minnesota voters are going to take to the polls to decide whether or not to ban same sex marriage via an amendment to the Minnesota state constitution.

The problem for the state is that it is not only home to one of the biggest gay communities in the country, but it is also home to very strong Republican conservatives such as Michele Bachmann.

Minnesota is not the only state struggling with the tough choice as Maine, Maryland, and the state of Washington are also going to vote on the issue in November.

The entire country is already split on the issue. As many states have banned same sex marriage, others have passed it or at the very least permit civil unions between same sex partners.

It is beginning to look like the issue of same sex marriage is going to be a deciding one in the Presidential election as well. President Obama has come out in support of same sex marriage and the movement towards further equality for all Americans, regardless of whether those Americans prefer the company of a man or a woman.

Romney on the other hand has taken the opposing stance.

Same sex marriage is becoming a more salient issue that is likely going to strongly effect the more moderate voters in November.

Earlier this month WWE Superstar and arguably the biggest professional wrestling superstar since Hulk Hogan, John Cena, filed for divorce. Cena and his wife Elizabeth had been married for over 3 years and had been together since high school.

According to those close to the actor and wrestler, Cena has been having problems with the marriage since shortly after the wedding in 2009. In recent months, Cena has been notably unhappy with his marriage.

Cena, 35, even tried to work out a pre-divorce settlement with his wife in order to make the divorce proceedings quicker and easier for both, but she was sure the bad times would pass and the two would end up happy.

Now, Elizabeth Cena is asking the judge to make Cena re-file the divorce papers. She claims the papers her husband filed have too many mistakes. She cites that he refers to her as Elizabeth Huberdeau, which is her maiden name. She also says that Cena mentions a prenuptial agreement in the divorce papers, but did not attach the pre-nup papers, which he must. Furthermore, the 12-time World Champion said that there was no marital property, but Mrs. Cena says different.

Cena has been the face of the WWE since 2005 and the company has worked to make Cena as happy as can be while at work in order to make this difficult time easy for him. The hope is that Mrs. Cena does not try to ruin the Cena name and image out of spite and is able to respectfully go about the divorce without airing any dirty laundry.

After spending four full months preparing to go public, Facebook has finally announced the price of their shares. Putting an end to all the predictions by experts and all the speculation by those in the media, Facebook has said that shares will be sold at $38 a piece.

It is projected that the total income from the initial public offering will be an amazing $16 billion. It will give Facebook the 3^rd largest IPO in the history of the United States. In terms of technological companies, it is by far the biggest IPO ever.

Before the IPO is complete, the SEC must approve all the details. Once this step is complete, the sale of Facebook stock will be begin to buyers.

It is expected that the majority of buyers will be via hedge funds, mutual funds, and other corporate investors.

It is interesting to see how this will effect the operations of Facebook. With shareholders and having so many people owning chunks of the company, it is interesting to see if Facebook officials change anything about their practices to please their new co-owners.

Soon we all could begin to own bits and pieces of Facebook. For just $38 a share, you can rightfully claim to be an owner of Facebook.

In the technology world, there are two kings. You have Apple and you have Google. Today, Google is announcing that they are updating their search engines to think more like a human being would.

The new system is called Knowledge Graph and will change how results show up for users searching for information.

The goal is to match results with how the human mind associates certain words and phrases. Thus, when results come back for a search, they will be listed under categories. Afterwards, you can click on the category you intended and then results for your word or phrase that are only a part of that category will show up.

For people searches, there will be categories of results ranging from information about the person, such as a Wikipedia article, and other results that Google thinks are related to the person, such as works they are associated with and news.

The new feature will be available today for some users. In time it will be available for Google searches on all computers and phones, including tablets. Also, eventually it will be available in other languages as it slowly proceeds towards being a universal search engine under Google.

Gilbert Carrasquillo/Getty

Arguably one of the best rappers in history, Sean Carter, better known as Jay-Z, has been vocal in the political world. Carter has long been a supporter of President Barack Obama.

Many speculated if that approval would stand after Obama made his support for same sex marriage known. Jay-Z was loud and clear when he announced that not only did he still stand by Obama, but he also agrees with the president and his views.

Carter said that banning same sex marriage is “no different than discriminating against blacks. It’s discrimination, plain and simple.” He also said that the fact that same sex marriage is not already legal is “something that was still holding the country back.”

The rap superstar said that it did not matter if Obama would lose votes because of the matter because what really matters is equality among the people.

Other celebrities have also come out in support of Obama and applaud his stance.

While some are questioning if this will hurt Obama’s chances for reelection, we believe it might be what seals him the election. The movement towards accepting same sex marriage in this country is strong and the strong opposition by Republicans might be enough to sway voters to the Democratic side.

President Obama sent shockwaves through the media this past week by opening up and acknowledging he supports same sex marriage in the United States. Despite some mixed responses by some, overall Obama has gained great support and sealed his reelection with his very progressive stances in a progressive nation.

Obama said today that he believes same sex marriage will provide equal rights for all people in the United States in terms of marriage and the benefits they could receive. Obama said that by expanding the right of marriage to all couples that it will strengthen the family unit.

With Obama’s support for same sex marriage, he may be rallying the youth and all the true liberal and open-minded people in the United States to vote for him in November. And if he attempts to turn same sex marriage into federal law, then he may in fact start a battle with conservatives that will truly open the eyes of Americans to the closed-minded conservatives who support this form of discrimination.

Romney on the other hand has openly opposed same sex marriage. And with Obama’s recent approval of it, Romney has lost supporters. This includes one openly gay supporter who went as far as requesting the money he donated to the Romney campaign back so he could donate it to the Obama campaign instead.

In a surprising turn of events, the 2012 election looks to be shaping up to be a battle over same sex marriage and ending discrimination in America.

It was not that long ago that Josh Hamilton was labeled a bust. He was a top draft pick who ended up being labeled an alcoholic and a drug addict.

Now that he has cleaned up, Hamilton is arguably the best player in Major League Baseball today.

In his last seven games alone for the Texas Rangers, Hamilton has racked up 9 home runs, 18 RBI, and 14 hits all in 30 at bats. Included in that is his famous 4 home run game with all four being 2-run shots. In that game Hamilton went 5 for 5 and broke the record for the most total bases in a game for an American League player in history with 18. That’s something that the likes of Babe Ruth, Mickey Mantle, and Ted Williams did not achieve.

Right now Hamilton is sitting at an above .400 batting average, 18 home runs, 40 RBI and is notably ahead of all other major leaguers in all categories with the exception of David Wright’s .400 batting average.

With Hamilton now clean and enjoying life with his family, there is only one question left to ponder. What could have been? Had Hamilton not had the vices he had early in his life and entered MLB just a few years earlier, we would be talking about him breaking numerous all-time records.

Regardless, Hamilton is on pace to not just likely take the MVP, but also put together a season for the record books.

TMZ

A masseuse has sued actor John Travolta. The man claims that Travolta booked a $200 an hour session and when he met up with Travolta, who he claims he did not know was the man who booked the appointment, drove in Travolta’s car to where the massage was going to take place.

The masseuse claims that there were condoms in the car. When the massage took place, the man claims Travolta sexually assaulted him and touched his private parts. The man went on to make outrageous claims of what Travolta did and said to him. Now the man wants $2 million from Travolta for the incident.

The incident allegedly took place in Los Angeles. However, Travolta was in New York City that day. Not only was Travolta pictured outside of a Mr. Chow restaurant in New York on that day, but also the receipts have been made public to prove it.

Now another man is claiming Travolta did the same thing to him. Funny thing is, that man is represented by the same lawyer as the first man.

This all quickly became a situation where anyone could take one look and realize this is nothing more than a poor extortion attempt and a horrible attempt to falsely trash Travolta’s name.

For the third time in the last four seasons, the NBA MVP Award is going to LeBron James. James, who is arguably the best player to play the game since Jordan, has won the award twice with the Cleveland Cavaliers and now once with the Miami Heat.

James received 85 first place votes, 61 more than the man who finished second, Kevin Durant of the Oklahoma City Thunder. Overall, James earned 1074 points to win the award. Chris Paul came in third place, Kobe Bryant in fourth, and Tony Parker grabbed fifth.

Derrick Rose, last years MVP, only got 5 total points coming from one third place vote.

James joins the likes of Kareem Abdul-Jabbar, Larry Bird, Wilt Chamberlain, Michael Jordan, Moses Malone, and Bill Russell as the only players in NBA history who have been named MVP at least 3 times.

He also joins Moses Malone, Kareem Abdul-Jabbar, and Wilt Chamberlain as the only players to win the award with two different teams.

James also becomes the first Miami Heat player to win the award.

This year James averages 27.1 points per game, 7.9 rebounds, 6.2 assists, and 1.9 steals. He also had a 53.1 shooting percentage. It was evident all year that James was putting together a record year.