Word: ipos
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...though, Artisan is basking in its good fortune with Blair Witch. Its executives plan to meet with the filmmakers this week to discuss sequels and prequels. The film's success has even earned Artisan higher visibility on Wall Street, where there's been talk of an IPO or debt offering. In at least one way, however, Artisan does hope to emulate its chief indie rival, Miramax. "In five years' time," says Block, "we certainly want to win an Academy Award for Best Picture." Blair Witch in Love, anyone...
...That stuff matters. But this IPO is really about mining riches on the Internet. UPS has been around since 1907, and management had always staunchly resisted selling shares to the public and having to deal with impatient shareholders and arrogant Wall Streeters. So why go public now? The company doesn't need money; it has a $3.4 billion cash reserve...
...betting the UPS brass doubled over in envy as they watched shares of rival FedEx nearly triple in a seven-month stretch, ignited by explosive e-commerce activity last holiday season. Kelly calls the market's valuation of Internet stocks "speculative" and says his planned IPO "is not the result of what any other company is doing." Still, Zona Research estimates 55% of the goods bought online during the holidays were delivered by UPS. FedEx got a mere 10%. UPS management must have imagined the possibilities. (The U.S. Postal Service, by the way, delivered 32% of e-packages, a strong...
What may matter most, though, is where the stock settles after the inevitable post-IPO run-up. I'd love to own UPS as a back-door Internet play, much like profitable equipment makers Lucent and IBM. But if Netniks drive the stock too high too fast, FDX, sliding lately, may be the better stock. Attention from the UPS offering and a repeat breakout holiday season for online shopping could send it on another...
...friends and a work visa about to expire, who confesses, "There's a knife at my throat. Sometimes I get really, really scared." A motherly saleswoman talks about going for "the kill" when she closes a deal. A CEO starts to unravel in the final sweaty minutes of an IPO that just might fizzle. The tension is palpable, the fear real, as Bronson chronicles "the living hell of radical uncertainty that is start-up life...