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Technology Stocks : AUTOHOME, Inc
ATHM 22.23-4.5%Dec 31 3:59 PM EST
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To: ERM who wrote (2950)10/26/1998 11:30:00 AM
From: ahhaha  Read Replies (2) of 29970
 
The point I was making originally is that the MSOs prefer protected territories. It guaranteed cash flow and no growth which invites trouble from a leveraged balance sheet over time. Banks love to lend when a very visible stream is available. No one believes that competition increases profitability even though you see a lot of posturing toward that view. It will take another 100 years before people stop putting the fair proviso in free market prescriptions. The free market is inherently fair. Attempts to make it fair make it unfair and minimize wealth creation. The MSOs under government protection are now in a delimited position which has impaired their ability to implement new technologies. The outcome is that most are still stuck with 28.8. Thank you, protection. I feel safe.
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