America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: Brian K Crawford who wrote (5244)	10/26/1997 1:57:00 PM
From: Investor-ex!	of 13594

... and you have been making that assertion from the 30's to the 40's to the 50's.....well, you get the point. Valuation rehash: The following text may be found at the following link, but requires a search: wallstreetguru.com Barron's Alan Abelson 9/15/97 Mark Hirschey, Professor of Finance at the University of Kansas. . . deduces [that] America Online is swapping assets with a net value of $250 million for CompuServe's 2.6 million on-line customers. Thus, America Online is paying only $96.15 per CompuServe customer. If you use that $96.15 price to value the 6.44 million customers he reckons America Online had at the end of its latest reported quarter, then the value of its total customer base works out to $619.2 million, or $6.34 a share. Either CompuServe's management has completely lost their minds, or WS is pushing this thing up for fun and profit. Just because the Emperor has no clothes doesn't mean he can't be dragged to the top of the highest tower in the castle and pushed out a window. :) Your amigo, Snuggles (I think Yikes has started something)

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