HSAC High Speed Access Co "Twice the value" of GNET, and Allen owns 54% already!!!
For those of you not busy "gardening" like ole Blue, the reason for the shake ups, and Buy Ups, is the small and smaller role GNET will play as a PORTAL in the Charter/Marcus/Vulcan cable "Microsoft Internet 2" roll out of Paul Allen and Friends. You see, GNET price per share has no meaning for Paul Allen, only its FUNCTION in the LARGER SCHEME OF THINGS, when you have virtual control at 34% of the GNET stock already, why "SUPPORT" the stock at $90, $95, $108, $155, or even $9, when you have what you wanted, CONTROL of a PORTAL to play the part of a PORTAL mere MORTALs.
You also need to realize that GNET's revenue is 70% advertising, as such it is overvalued, I am HOPING for another bump, and then I am out totally, I'll spend the rest of money on something that has a defined and GROWING REVENUE STREAM, like AOL, or maybe HSAC (High Speed Access Co). Don't say I told you so, don't beleive me, just read the following before you add it to your compost heap.
hoovers.com
High Speed Access Corp.
High Speed Access contracts with cable-TV operators to provide fast-paced Internet service in places where the pace of living is a little slower. The company targets so-called exurban markets (where cable systems pass less than 100,000 homes), offering Internet access via both high-speed cable modems and standard dial-up service. It serves more than 5,000 customers (including 2,800 cable modem users) in 14 markets in 11 states. Microsoft co-founder Paul Allen's Vulcan Ventures owns 54% of High Speed Access,and Vulcan's Charter Communications cable unit has agreed to give the company rights to at least 750,000 homes passed. Kentucky investment group Broadband Solutions owns 37% of High Speed Access.
Hoover's Company Capsules
Copyright © 1998, Hoover's, Inc.
Austin, Texas
Address: 4100 E. Mississippi Ave. Denver, CO 80246
Phone: 303-256-2000 Fax: 303-256-2001
Web Site: hsacorp.net
CEO:Ron Pitcock Sr. CFO: George E. Willett HR: Susan Francke
Employees: 156
Fiscal Year End: December
1998 sales ($ mil.): 0.3
Net Income ($ mil.): (10.0)
Company Type: Private company
Proposed Ticker Symbol: HSAC Proposed Exchange: Nasdaq
NOT BAD FOR TWO DAYS OUT OF THE GATE, eh Bill?
Please take note of this company's location H.Q., and number of employees, for a comparison to GNET see:
hoovers.com
or any similar DD (Due Diligence site, maybe FreeEdgar for starters).
Next week, on to where the real money is.
I am,
Truly yours,
-Crystal ball |
