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To: Bill Harmond who wrote (81690)	10/22/1999 3:57:00 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 164684

William, do you know if there are any restrictions about splitting a stock right after the quiet period? Is it something companies are less likely to do prior to lockup expiry etc? I don't remember anybody splitting prior to being out 6 mos or so.... just curious, I think some of these infrastructure softwares are going to the 200+ area, very high if only 20mm shares out.

To: Bill Harmond who wrote (81690)	10/22/1999 11:12:00 PM
From: H James Morris	Respond to of 164684

William, honestly I had no idea that Martha was a Kleiner child. Trust me on that. <<Martha Stewart: The Good, the Bad and the Ugly Netcos Leave it to the Net to make Martha Stewart look good to business writers. Anyone who has picked up a magazine or fingered a remote control knows that Stewart's kingdom typically inspires derision among the coastal establishment elites. But she knows how to build a business, and by the time the titan of gracious living took her company public on Tuesday, the media had warmed up to Martha Stewart Omnimedia as representative of the real, tangible future of Net investing. The thaw was short-lived. By week's end, Stewart's press clippings focused on her Wall Street grandstanding and the NYSE's behind-the-scenes snafu during her company's successful opening day. After reviewing plenty of Netcos that are little more than dreck, ZD Interactive Investor's Larry Dignan pegged Stewart's plan as one that made sense. The company's strategy is to shape its media properties in TV, radio and publishing - not to mention the line of home goods sold in heartland establishments like Kmart - into a home/wedding/kitchen/craft portal. The concept is a bit off-the-wall but closer to sounding like a sustainable business than most Netcos. This year, it took Martha Stewart Omnimedia just six months to cook up $13.9 million in Net and direct-commerce revenues - half the time it took to earn that amount in 1998, according to Dignan. The company was smart enough to hook up with white-glove VC firm Kleiner Perkins Caufield & Byers as it readied for the IPO. Few were surprised when the stock, priced at $18, opened at $37 and ended the day at $35. But MSNBC financial writer Christopher Byron blasted Stewart for pumping up the stock price. Byron has often railed at Net IPOs that lure the public with hyped-up, no-win deals - no-win for individual investors, that is, but a financial killing for investment firms and company insiders. He found Martha Stewart Omnimedia to be a smartly run business. No problems there. But her on-camera performance for CNBC shortly after the market opened on Tuesday galled Byron. Stewart's twirl before the Wall Street set "was stock hyping pure and simple, and it helped support the puffed-up, bloated and severely unsettled after-market price of an offering that had already doubled in value from what the insiders had paid only minutes earlier," he wrote. An even sharper commentary on Net investing, Byron pointed out, was the fact that no one found anything unseemly about Stewart's carny-like stock hawking. Turns out while Stewart was beating the drum for her company stock, the NYSE bungled the company's opening-day trades, according to the New York Times' Floyd Norris. The NYSE has been jealously eyeing Nasdaq's share of public offerings. It savored the MSO offering, but its system was quickly overwhelmed with orders. Trading should have been temporarily halted, Norris wrote, but with a hot IPO on their hands, there was no way NYSE officials would stop the trading. Then a clerk's error - the wrong button was pushed on a machine that processes orders - swept through several large trades all at the wrong prices. A stop in the trading would have given the system time to regroup, but NYSE execs "are tired of taunts from Nasdaq about such halts," according to Norris. In the end, "[W]hat actually happened should be far more embarrassing." Martha Stewart's IPO, the Web Play chkpt.zdnet.com You still don't get it. Do you?

To: Bill Harmond who wrote (81690)	10/26/1999 12:36:00 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 164684

Are you on vacation? Help me out a little here... I talked to an internet retailer yesterday and they are using broadvision and a backend package (warehouse). What I'm used to from Dell is a client - Broadvision goes there - then an ERP, then a warehouse package. Of course, Dell is manufacturing something and Amzn etc. are not. Is that right that with bvsn you can eliminate the ERP entirely? I didn't know that... because if so, bvsn can grow to be the size of Sap, and at which point I would say bvsn vs. vign no comparison... bvsn would have MUCH more potential than vign.