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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 227.90+0.4%Dec 9 3:59 PM EST

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To: craig crawford who wrote (130109)8/16/2001 11:59:33 AM
From: Rob S.  Read Replies (2) of 164684
 
Craig, you have been an exception. A lot of investors are using interest rates as an excuse. It is certainly a part of the macro-economic picture but it pales in comparison to the actions taken by the managers and capital flows of certain tech sectors. The tech stocks have gotten to be somewhat like a huge ponzi scheme; directors and officers of companies are more motivated to manage the growth in stock prices than responsibly manage the growth of their companies. Compensation has grown to reward orchestrated failure that benefits the venture capitalists and investment bankers as the sake of stockholders. There are some great tech businesses with tremendous products, but the level of incredible promises on the upside mushroomed to unrealistic levels. That is not anything new except by degree. And that so many of the managers of failed companies have absconded with huge payoffs for their failures. It's amazing that we in the U.S. have criticized the Russian's for playing loose with their businesses and being a Mafia state - they could learn a thing or two from companies here: how to guide a gullible public along, castrate any efforts at enforcing responsibility, and make away with fantastic fortunes. Maybe they all will meet up on the French Riviara for cocktails.
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