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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 232.52

+0.1%

Dec 26 9:30 AM EST

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To: H James Morris who wrote (124649)	5/6/2001 11:20:05 AM
From: Glenn D. Rudolph	Read Replies (2) of 164684

James, Thank you for the article. This has become fun. Not as much fun as making money and sex but fun none the less. I can't believe how many of these interviewed analysts believed the last quarter numbers. Amazon's balance sheet is deteriorating quite quickly. Amazon burned $1.4 billion in cash during the 12 months from the end of Q1 2000 to Q1 2001. Working capital is turning negative and Amazon will not be able to pay accounts payable after Q4 2001. So now what? Do these analysts have to eat crow when Amazon files Chapter 11 or do they just move on? I am doing the math here. I am not guessing. Based on current performance including the reported numbers from last quarter and giving Jenson the benefit of my doubt about hiding expenses in the restructuring charge, Amzon still cannot make payables payments after the holidays. Glenn

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