Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: Sir Auric Goldfinger who started this subject	2/13/2002 2:24:52 PM
From: StockDung	of 19428

Barter Played Role in Dot.Com Mania As more and more investors are smarting over the diminished value of their dot.com stock, it's inevitable that are lawsuits following. Some lawyers say the wave of class-action lawsuits has only just begun. One of the targets of a class-action lawsuit is Amazon.com. Bernard Black, a professor at Stanford University School of Law, isn't surprised. "Some of their accounting practices were a little bit funny, like, 'I'll trade you ad space on your site for ad space on my site, and we can both record it as revenue.'" Black says if that sort of practice is prevalent and not disclosed, it could be reason for a lawsuit. The lawsuit also says that much of the revenue Amazon recorded from its ventures with other online retailers was presented as cash, while it was actually in the form of stock (barter). In one example the suit cites, Amazon said in a Securities and Exchange Commission filing early last year that its stake in internet company Audible Inc. would result in payments of $30 million over a three year period. In fact, the suit says, Amazon received $20 million of that payment in stock, which is worth only about $1.3 million today. google.com

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