Snapsaved

1. Firms choose FIFO to accentuate profits, as COGS is usually lower for older inventory, therefore increasing apparent margins. They choose LIFO to create favorable tax situations, as newer, more expensive inventory creates lower margins but a lesser tax burden. If given a choice, many firms will choose FIFO for accentuated profits and save explanations for the notes on SEC reports.
2. Nothing can ever be erased in the digital age. Snapchat just got burned by website Snapsaved.com, which apparently hacked SC servers and grabbed thousands of photos. Considering half of SC's users are between 13 and 17 years old and are known to use the service to send racy photos to one another, this puts the company--who was just valued by Kleiner, Perkins, Caufield & Byers at $10 billion, in a very sticky situation.
3. The patience of the PRC trumps youthful idealism. Despite violence in Hong Kong last night, it looks like protesters are blinking first. HK government is pulling a Bloomberg and sending in fire hoses and hack saws to dismantle tent-towns and barricades. Flare-ups of violence are looking limited and not significant enough to grow protest crowds back up to last week's levels.