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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 234.70-1.2%Nov 14 3:59 PM EST
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To: Olu Emuleomo who wrote (119600)3/7/2001 7:22:30 PM
From: Glenn D. Rudolph  Read Replies (1) of 164684
 
--Olu E.
btw: nobody forces anyone to buy stock in any company. If you buy stock, you need to do your due diligence and dont go blaming the CEO for your losses unless he/she somehow commits fraud. In that case, the SEC will catch up to him/her in the long run (hopefully)


Olu,

Let's visit some of the Bezos comments during conference calls under the safe harbor act. During the conference call for the end of Q4 1999, Bezos stated that cash from operations would be suffcient to not only cover operations but to cover Capex too for all of 2000. Then Amazon went out and raised $640 million in junk bonds in Europe. After that, Amazon burned $1.2 billion in cash in 2000. I had no position in Amazon so it is irrelevant to me. What is relevant is did Bezos miss calculated cash needs by $1.2 billion or maybe stating they were not going to burn cash anymore to possibly help in raising the funds in Europe?

If Bezos miss caculated cash needs by $1.2 billion in one year, I suspec one might be able to say his handle on the business is not good. If me made this comment about cash knowing it was not true, it may be fraud although protected under the Safe Harbor Statement.

I am not not sure what the total waste of $3.4 billion (Amazon's losses since inception, has added to making this a better world. My opinion is $3.4 billion and counting is a lot of resources.

Glenn
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