Marcie and Ibexx: re: WMT and AMZN
An article in Bloomberg today says that WMT is bringing suit against AMZN, alleging AMZN is luring away workers(associates) to gain access to the retail chain's trade secrets; and today AMZN accuses WMT of waging an " intimidation campaign" against companies seeking to hire workers away.
Allegation from WMT is that AMZN is intentionally targeting WMT associates to get secrets about its computerized merchandizing and distribution systems..
AMZN has hired 15 current or former employees or consultants, including, Richard Dalzell, WMT's former CIO.
AMZN claims they are only following the advice of Sam Walton, in
his book "Made in America",in which he admits he nosed "around other people's stores searching for good talent" when he started the chain.
Walmart.com vs. Amazon.com
BTW: I have read that Jeff Bezos, CEO and founder of AMZN,is a former hedge fund manager; maybe we could borrow some of his
in-house "investment" staff, who seem to do a great job of selling puts
which expire worthless as the AMZN stock reaches the sky.
Then we could have WMT shares trading at, oh, how about $700./share
Still have to work on that nagging problem of too much profits at WMT however; with the internuts, you can't have ANY earnings in the price/earnings ratio; without earnings, you can dismiss the arguements of overvaluation as backward thinking.
What a strange time it is in the financial markets.
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