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To: H James Morris who wrote (69421)	7/25/1999 2:29:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 164684

H James, she was making a word-play joke on B-to-B (or B2B), the latest internet acronym, standing for business-to-business. Bed-n-Breakfast, get it? >>You can't stay in too many bed and breakfast's I say. << Michelle, what's your point?< PS - H James, you're not by chance blonde are you? -gg-

To: H James Morris who wrote (69421)	7/25/1999 9:33:00 PM
From: Glenn D. Rudolph	Respond to of 164684

IPO VIEW -NYSE, UPS plans reflect sizzling market By Reshma Kapadia NEW YORK, July 25 (Reuters) - Although the technology-laden Nasdaq is sliding lately, the initial public offerings market, which often moves in step with it, continues to rise. And recent big IPO plans from United Parcel Service Inc. (UPS) and the New York Stock Exchange reflect that. The New York Stock Exchange, the world's largest stock market, said Friday it hoped to go public by Thanksgiving. Currently, all U.S. stock markets are privately-held. The National Association of Securities Dealers, parent of the Nasdaq and the American stock exchange, has previously said it is taking steps toward a possible IPO. Last week, Atlanta-based package delivery firm UPS also said it would go public in a bid to position itself better to make major acquisitions. "The long-running bull market along with the hot IPO market has certainly spurred some private business that hadn't considered going public to take a long hard look at whether it makes sense," said Steven Tuen, an analyst at IPO Value Monitor, about the recent announcements. Both planned deals could top the list of largest IPOs in terms of amount raised domestically by a U.S. issuer, analysts said. Right now Conoco Inc. <COC.N> holds the title after raising $3.96 billion domestically from its IPO. Goldman Sachs Group Inc. <GS.N> is in second place with $2.9 billion, according to Securities Data. Internet and technology companies continue to rush through the initial public offering door to get a piece of the action despite the bumps technology stocks have hit recently. "It might be because IPO mania has taken over. Some of these companies are creating new businesses and are rocking the boat," said Tom Taulli, an analyst at Edgar Online Inc. The public float of the UK's biggest Internet service provider, Freeserve, is one company that is expected to top the charts when it debuts Monday in London and on Nasdaq. The deal will mark Europe's first major Internet float. Freeserve is slated to offer about 153 million American Depositary Shares in a range of $20.17 to $23.27 through lead underwriter Credit Suisse First Boston. CSFB has an option to buy an additional 22.96 million shares, according to the prospectus. Given the recent success of StarMedia Network Inc. <STRM.O>, an online network for Latin America, and Internet portal China.com Inc. <CHINA.O>, investors on both sides of the Atlantic are expected to clamor for the deal. "Investors will be interested in (foreign firms) because the telecommunications and Internet industries are really going to be a worldwide phenomenon," said Joe Stocke, a manager of Evergreen Funds' Select Special Equities Fund and Stock Selector Fund. "Investors in the U.S. have done well with U.S.-based companies in those industries, and I think they would want to capitalize on that experience" outside of the U.S., he added. Some analysts said Freeserve, whose majority shareholder is electrical goods retailer Dixons Group Plc <DXNS.L>, will get an even stronger reception than StarMedia and China.com. "It's not just a portal; it's an Internet service provider and offers connectivity," said Randall Roth, an analyst at Renaissance Capital Corp.'s IPO Plus Aftermarket Fund. "They have leapfrogged America Online Inc. <AOL.N> to become Britain's biggest ISP." The company is seen having an advantage over one of its competitors, U.S. online giant America Online Inc., because it has the home-turf advantage. "It's a matter of having content (for that country and culture). You can dress up an American content provider, but it will still have a cultural identity with America unless they make a big effort to brand as 'UK only.' It's not going to get the same loyalty as a native company," Roth said. The Internet firm has freed UK users from multi-subscription fees and relies on e-commerce and advertising. Currently, it der...