Mr. Marlow:
If your purpose in your post was to embarrass the venerable New York Times, catch them with their hand in the cookie jar and show them to be hypocrites, then by Jove, you have succeeded. Good show.
An excerpt of your link:
from
Will success spoil TheStreet.com?
By John E. Fitzgibbon Jr.
Red Herring Online
May 14, 1999
The stock market value of TheStreet.com (Nasdaq: TSCM) zoomed from nothing to almost $2.0 billion in a single day when Goldman Sachs (NYSE: GS), Hambrecht & Quist (NYSE: HQ), and Thomas Weisel Partners offered the IPO to investors.
LOVED BY OLD MEDIA
TheStreet.com is a leading financial news service provider in the exploding Internet industry, but that's nothing new or unique. In fact, the company faces many competitors -- larger, better financed, and better known companies such as Reuters (Nasdaq: RTRSY), Dow Jones (NYSE: DJ), and Bloomberg.
Nevertheless, TheStreet.com has a few things going for it. First is its cofounder and Wall Street guru James Cramer, a widely acclaimed investment strategist whose voice ricochets around the canyons of Wall Street and the chat rooms of the Internet.
Second, it has alliances with major media companies. The New York Times (NYSE: NYT) issued a vote of confidence in Mr. Cramer by buying over 1.6 million shares of TheStreet.com for $15 million in February 1999
Q.E.D. Self-serving bastards!
Nice analysis (yours). |
