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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (89129)	1/23/2001 9:22:31 PM
From: hlpinout	Respond to of 97611

Hiya Chris, Found your banished piggy too? Excerpt from TSC. hio -- thestreet.com Sometimes the corporate accountants taketh away. Don't forget that Compaq's fourth-quarter results excluded a whopping $1.8 billion charge for the writedown of its tanked Internet investments, mainly CMGI (CMGI:Nasdaq - news). Including that charge, the company lost $672 million, or 39 cents a share. Compaq's writedown is about $800 million more than Capellas had estimated on the company's conference call following last month's earnings warning. Since that time, though, CMGI has plummeted another 35%. Compaq picked up its stake in CMGI -- a $220 million note and stock equivalent to 41.6 million split-adjusted CMGI shares, some of them preferred -- in June 1999 in exchange for 82% of its AltaVista unit. At the time the transaction was announced, those shares were worth about $2 billion. Now, they're worth about $271 million. It should be noted that Compaq never spent any cash for its CMGI stake. CMGI isn't where the charges end, though. In June, Compaq spent $25 million to buy roughly 1.72 million shares of CMGI's publicly traded, online advertising subsidiary, Engage (ENGA:Nasdaq - news). Those shares are now worth about $3.1 million. Compaq also holds shares in such steadfast tech outfits as divine Interventures (DVIN:Nasdaq - news) and AskJeeves (ASKJ:Nasdaq - news), down about 86% and 98%, respectively, from their peaks.

To: Chris who wrote (89129)	1/23/2001 9:32:42 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

As I understand it, the CMGI loss was a write down to current value. They still own the shares which seem to have found a bottom in the 4-5 range. I read an article recently on CMGI which said that the only reason that CMGI wouldn't be around in 100 years would be if the internet wasn't around in 100 years. The article prompted me to by 1000 shares @ 3 3/4 about 2-3 weeks ago. If the stock recovers, CPQ and I will both benefit. CMGI closed today @ 6 3/4, I think. El

To: Chris who wrote (89129)	1/23/2001 11:30:19 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 97611

I am just guessing, but I was following this cmgi stock stuff fairly closely, but I think, they have every last friggin share. The lock up ended about july of 2000 and they never dumped a friggin share. Total, monumental F__kup. Rosen put the deal together, but he resigned and forgot about the stock. Capellas was never in on the deal in the first place and I am sure didn't consider that stock part of his job description. It would have been the responsiblity of Ben Wells but I think he owns too much stock to fire; Jesse Greene holds the the CFO title, maybe he should spend less time in Europe and either pay more attention to the job he is supposed to have, or resign and clip his coupons and let a real CFO take the job.