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Technology Stocks : Webvan Group (WBVN)

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To: SAO who wrote ()	1/13/2000 9:19:00 PM
From: Loren Konkus	Read Replies (1) of 464

From the Detroit Free Press: freep.com Extracts: "Webvan Group Inc. of Foster City, Calif., is close to signing a lease with Ashley Capital LLC of New York to open an Internet grocery distribution center in Livonia at the former site of Ladbroke Detroit Racing Course." "A 50-mile delivery area would stretch roughly to Lapeer to the north, Toledo, Ohio, to the south, Stockbridge to the west and the eastern border of Michigan." "Webvan's Livonia center would employ 900 people within three years, with an average salary of $550 per week. About 180 to 200 of the jobs would be managerial and professional positions paying an average of $50,000 a year." "To help secure the deal, the Michigan Economic Growth Authority last month granted Webvan a $23.4 million state tax credit over 15 years."

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