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nese company's ambitions for the share sale are much richer.
• "This is going to be the granddaddy of all IPOs," predicted Sam Hamedah, CEO of PrivCo, which researches privately held corporations.
• Although it's not well-known in the United States, Alibaba is an e-commerce powerhouse that makes more money than Amazon.com Inc. and eBay Inc. combined. It has helped drive the rise of e-commerce in China, a transformation that has given millions of households greater access to clothes, books and consumer electronics in a society that in the 1980s still required ration tickets for some supermarket items.
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Today in History
The Associated Press
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• Today is Wednesday, May 7, the 127th day of 2014. There are 238 days left in the year.
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• Today's Highlight in History:
• On May 7, 1789, America's first inaugural ball was held in New York in honor of President George Washington, who'd taken the oath of office a week earlier. (His wife, Martha, did not attend; she was back in Virginia, attending to family business.)
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• On this date:
• In 1763, Pontiac, chief of the Ottawa Indians, attempted to lead a sneak attack on British-held Fort Detroit, but was foiled because the British had been tipped off in advance.
• In 1824, Beethoven's Symphony No. 9 in D minor, Op. 125, had its premiere in Vienna.
• In 1889, the Johns Hopkins Hospital in Baltimore opened its doors.
• In 1915, nearly 1,200 people died when a German torpedo sank the British liner RMS Lusitania off the Irish coast.
• In 1928, the minimum voting age for British women was lowered from 30 to 21 - the same age as men.
• In 1942, U.S. Army Gen. Jonathan Wainwright went on a Manila radio station to announce the Allied surrender of the Philippines to Japanese forces during World War II.
• In 1945, Germany signed an unconditional surrender at Allied headquarters in Rheims (rams), France, ending its role in World War II.
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