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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Victor Lazlo who wrote (116894)	2/3/2001 11:00:12 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

>Last Update: 4:15 PM ET Feb 2, 2001 SEATTLE (CBS.MW) -- Shares of Amazon.com flirted with a new 52-week low after sinking more than 11 percent in active trading Friday. It was the fourth straight session of falling prices for the Internet retailer, which late Tuesday warned that sales were slowing and that it would let go of 1,300 people in a cost-cutting effort to reach operating profitability by the fourth quarter. By the end of the day, Amazon (AMZN: news, msgs) shares were down $1.88 to $14.38. Friday's retreat appeared to be related to investor fears that the world's largest e-tailer was redefining its mission. Chief Executive Jeff Bezos told employees via e-mail Wednesday that Amazon's stores would "get the crap out" by carrying only products that are profitable. Many investors read that as a change of heart and the end of Amazon's much-touted mission to be the place to find, discover and buy anything on the planet. Not so, said Amazon spokesman Bill Curry. "We have never said that we should sell everything, but that we would cooperate with other parties to do so," he said. He pointed to numerous examples on the site, such as CarsDirect and the gourmet-food link in the kitchen store as examples. Instead, Amazon is taking on a broad initiative to clean things up and make its system more efficient. "You should not draw any conclusions that this means a reduction in selection," he said. "We don't know that yet. "The theory is that it's OK to sell a product at a loss if we decide to, but it's not OK if it's happening accidentally," he said. Separately, Curry said Amazon had taken out a clause in its severance agreement with recently fired employees that required them not to talk about the company. "The issue's been resolved," he said.

To: Victor Lazlo who wrote (116894)	2/3/2001 12:07:24 PM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 164684

It sure looks like the stock is losing losts of support these days Victor, Amazon will really lose investor support when they file Chapter 11 late this summer to reorganize and be rid of most of the leases for these fulfillment centers. Another KP firm is Bluenile.com. In Q4 1999 the firm had a press release to say they had $10 million in sales in that quarter. They negelcted to mention the money losses and they were not requried to release any information since they are private. This year they did not do a press release about Q4 sales fo Q4 2000. They did state business was "good" whatever that means. Will you buy their IPO? Glenn