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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: KW Wingman who wrote (19354)	1/31/2000 11:48:00 PM
From: Uriel Yepes	Read Replies (2) \| Respond to of 29970

I have been part of many threads that started to lose confidence and if they had only just had a long term conviction they would have been proved right. I was part of SPYG and the world seemed to be coming apart at $5.00 but here we are today at $35.00.Nobody believed PDA's would every work out and now Steve Harmon sees the light. I was with Yahoo at $26.00 and everyone on Wall Street was saying it was an overvalued stock. With JBL at $11.OO nobody wanted to buy and here we are at $63.00. Nobody wanted Amat or LRCX a year and a half ago and analysts even said CSCO at $40.00 was an expensive stock and look at where it is today. ATHM is one of those out of favored stocks we all know why everyone hates and when the street finally acknowledges the value it is too late. I have no problem having them grow at the current pace and lets see how much ATHM is worth in two years. Lets see Steve Case do miracles with TWX and have those margins explode the way they did with AOL. He had the luxury of a explosive growth in a small company he could steer around fast. Lets see him make mistakes and see how fast he can turn around a mammoth ship like TWX. This is just one persons opinion but in a New Industry like the internet Co. need quick action and he just lost his propeller. People will see next Q that TWX is not going to be able to catch up quite as easily as just merging. This Q numbers will surge in subscribers and content will make its way in form of alliances. This company has met every promise made and with time it will prove its point just hold on.

To: KW Wingman who wrote (19354)	2/1/2000 12:03:00 PM
From: gpowell	Respond to of 29970

Is this what Hell feels like? You don't appear to believe the wording of the IRS tax site yet you take the word of a $5.50 per hour guy at ATHM and some burger flipper posters from SI. <:} (just kidding) Also add two CFO's, I think they make about $10.50 per hour. Here's is a relevant link: nysscpa.org The Future To reiterate, we feel this provision is important, but not nearly as comprehensive as the financial press would lead one to believe. To benefit from the provisions of Sec. 197, the acquisition from which the intangibles arise must be structured as an asset acquisition for tax purposes. Since many acquirers of stock will not make the 338 election, the purchase accounting goodwill necessitated by the application of APB 16 will not, inevitably, translate into "tax goodwill" to which Sec. 197 pertains. While most acquisitions of subsidiaries or divisions of corporations can be so structured, with consequent benefits, it is rare for the acquisition of an entire company to be structured in a manner that would benefit from these provisions. The repeal of the General Utilities doctrine, that culminated with TRA 86, makes it generally prohibitive to format the acquisition of an entire company as an asset acquisition in light of the up front tax cost imposed on this privilege. Therefore, this provision will have its greatest impact on transactions involving sales of portions of a corporation, as opposed to cases where the entire corporation is acquired by another corporation. If you read ATHM's SEC filing you will notice that the acquisition was set up as a tax free reorganization within the meaning of section 368. We have come full circle. Regardless of the legal classification of an acquisition, the accounting for a business combination is either the purchase method or the pooling of interests method. You have confused the accounting method used to account for the merger, purchase accounting, with an actual purchase of assets for which section 338 applies. A beneficial exercise would to explore the difference in the financial reporting consequences when a pooling of interest accounting method is used verses the purchase method. In the former case no goodwill would be created and thus no charge to earnings. Is it a mystery then, why some corporations are squawking about being forced to use the purchase accounting method. It makes their M&A consequences immediately obvious to investors.... Well, to some investors.