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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 222.92-4.3%3:42 PM EST
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To: H James Morris who wrote (139736)2/23/2002 11:31:32 AM
From: Glenn D. Rudolph  Read Replies (1) of 164685
 
"So Glenn, now that Bezos has turned a profit do you think he's earned his $billion?"

James,

You are going to make me crazy;-). Amazon has not turned a profit. They showed a GAAP profit for the very best quarter for any retailer and that was only due to a variation in currency exchange. The notion of "Black Friday" indicating that is the only time retailers are in the black no longer holds true. Most retailers adjust their promoting, inventory, etc. to show profits each quarter. Granted not nearly as great as Q4.

I am not sure how one is defining a profitable company but I do not define one that makes $6 million in the best quarter and loses $400 million during the other three quarters of the year. You consider Amazon a profitable firm?

You are really making me nuts and Bezos is making me more nuts. We started our eBay intitiative last May. One reason was to see if we could do it. The other is I can always use more money. I worked 70 to 80 hours per week for nine months. I realize hard work never hurt anyone. Well maybe <G> We made a tidy profit and created a brand on eBay. In fact, we made close to what Amazon made in Q4 and of course did not lose money the other quarters totalling hundreds of millions of dollars. My take home was less that 3% of Bezos' in 2001. It is nuts.

I still believe Amazon will fold and AOL will take the remnants.
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