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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (73071)	1/7/2000 6:05:00 PM
From: gnuman	Read Replies (1) of 132070

MB, Good article in BizWeek, "The Ether Keeping Amazon aloft" <....despite $395 million in losses through Sept., Amazon's stated net worth last year tripled, to $420 million. How could that be? Most of the credit goes to a $580 million series of acquisitions of three small businesses that Amazon closed last spring. Amazon paid mostly stock, issuing 8 million shares. The accounting gets tricky here, but Carlo Pippilo, an accountant with the FASB, told me that in mergers like Amazon's, the value of shares used in payment must be added to the buyer's equity. If the buyer pays cash, the amount is subtracted from equity.> Amazed to see their long term debt is $1.4 billion. <g>

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