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To: XBrit who wrote (23954)	10/3/2000 11:40:17 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

yep...loads of paper wherever one looks. the spin and printing combo is aflutter among other things in order to allow WS to place an enormous amount of IPO deals in coming weeks. re. recent IPO's, here's what Alan Newman had to say about one of those: John Pierrepont Morgan is rolling over in his grave. The firm that took his name is as old as the hills, a veritable American institution, and stories of JP's exploits in the financial market have puncuated history about as often as any one man's influence could be expected to carry such weight. The venerable Morgan bank greeted the larger Chase bank last week in a merger of true giants. In a deal worth $36 billion, the new JP Morgan Chase will be one of the largest and most influential financial firms the planet has ever known. In the midst of the biggest stock market mania of all time, that's a mouthful. So, why would JP be rolling over in his grave? Corvis Corporation. CORV is a youngster, a pup whelped only this past July 28th, but blessed in all things "optical" - the signal to buy at any price nowadays. By August 7th, baby CORV had ballooned to a $38.6 billion market capitalization, more than Chase has offered for JPM and after only ten days of public trading. It took JPM considerably longer to be accorded a somewhat smaller market cap. And some still say this is NOT a mania? Well, let's compare the two and possibly we will convince ourselves of the fairness accorded CORV by a rational marketplace. Let's see, JPM has 15,512 employees to CORV's 758, that doesn't sound like a good comparison. Earnings? Heck, CORV is an IPO and we know it's bound to have no earnings, right? Okay, let's check revenues then. JPM, $11.78 billion. Aha! Robust, to say the least. CORV, zero. What's that? Zero?! If the marketplace is rational then we are surely insane.