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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 232.79+0.2%12:42 PM EST
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To: Alomex who wrote (149853)11/10/2002 1:15:25 PM
From: Lizzie Tudor  Read Replies (1) of 164684
 
This is a big problem in Seattle. The amount of office space available went up from nearly zero to the highest in a decade. Dot.com companies were so overstaffed (including Amazon) that even after a substantial recovery they still won't need all the space they had signed for. Lastly, Amazon being a low margin retailer shouldn't be in relatively expensive Seattle... (Walmart's are in Bentonville, Arkansas).

Oh man same thing here. Inktomi and Niku (now microcaps) just got out of these huge marquis buildings at an extremely high cost to mgmt and shareholders. The Niku building was built where movie theatres used to be on 101- they tore that business down and paid off the prior owners.

I have no idea what its going to take to absorb this excess lease capacity here. 10 years of growth maybe? One huge bldg after another is a seethrough.

wrt amazon though, one deceptive thing about both Dell and Amazon is that they have a "virtual" set of staff at fedex and the shippers that they partner with, using the hub and spoke model (I'm sure amzn does this- Dell does). So there is staff in Tennessee (where fedex is) that are more or less working for amzn on the logistics side. Those are the really low paying jobs. The new areas amzn is going into like the partnerships are mostly tech tasks I believe.
Lizzie
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