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Here's a warning for all you investors in Net stocks: some company executives seem to think their high-flying shares have hit a peak. In recent weeks, top brass at firms like Excite and Amazon have either sold or filed to sell a large chunk of shares. So with Net stocks defying gravity, you may also want to take the money...
...play itself is based on Euripides' account of Greek mythology in which a complex scenario involving Gods, mortals, family vendettas and suppressed libido interact in a whirlwind of death and revenge. The plot itself is a vast intertwining of story lines, rooted in a background of bestiality and Amazon romance. The pivotal action focuses on Phaedra, wife of Theseus, who becomes consumed with an incestuous desire to pursue her own stepson, Hypolytus. Inevitably, the plot thickens as emotional disclosure and interpersonal confrontation complicate the dynamics of this severely disturbed and dysfunctional family...
...more Amazon sells, though, the more money it loses. Last quarter's net loss of $24.7 million was more than double the loss in the same period last year, even as sales tripled to about $38 million and the ranks of its notoriously loyal customers nearly quadrupled. And those losses are expected to continue at least through 1999. Bezos insists that focusing on profits during this growth phase would be a "strategic mistake." Amazon's proponents believe market share is what matters, and the company will reap its earnings rewards when online buying heats up and its marketing blitz cools...
This vision is embraced by the individual investors (many of them trading online) who have driven Amazon's stock beyond any established benchmark of price-to-revenues. But many analysts and institutional investors view the stock as overpriced and believe the company faces a tangle of challenges. Its principal foe, Barnes & Noble, recently purchased the Ingram Book Group, the largest U.S. wholesaler to book retailers, including Amazon. This follows Barnes & Noble's sale of 50% of its website operations to giant publisher Bertelsmann AG, creating a potent synergy. Meanwhile, nine other major Web retailers, including CDnow and eToys, recently banded...
SNEAKERS While many people, including the 13th century Indians of the Amazon, can lay claim to inventing sneakers, what really launched the boom was the arrival in 1916 of Keds, shoes with canvas uppers and rubber soles made by the U.S. Rubber...