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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (27185)	6/4/2002 12:22:02 PM
From: levy	Respond to of 28311

Insp is not the only stock in the gutter so as much as we want to play the blame game truth is INSP would be sitting at a pretty low number right now no matter what...I have heard it said if GNET didn't merge it might have faired a bit better in the down market as it turned a profit but the best guess number I heard from those who were in the know is that the stock might be trading at 10.....the market has turned so ugly I doubt that figure might have held up.......there in lies the problem with the lawsuits......I see them winning then getting very little for their efforts here is an interesting piece May 22, 2002 -- Look out Henry Blodget - Manhattan District Attorney Robert Morgenthau could be knocking on your door next. While Merrill Lynch has settled charges with New York Attorney General Eliot Spitzer, sources close to the investigations revealed the DA is also looking at the individuals named by Spitzer in his investigation. "We are sharing any and all information [with them]," said the source at the AG's office. Henry Blodget, Justin Baldauf, Kirsten Campbell, Virginia Syer Genereux, Sofia Chachem, Thomas Mazzucco, Edward McCabe and Deepak Raj, former or current analysts at Merrill, were all named by Spitzer's office and are free from further prosecution from the AG after yesterday's settlement. But e-mails from Blodget and his crew showing they gave high ratings to companies' stocks in order to get or retain investment banking business could be used in the 28 class action lawsuits still pending and criminal charges could still be in the works. "They [the DA] could be looking at the fraud. If they [Merrill analyts] were materially misleading their clients to buy stocks they knew weren't worth it and if their clients relied on their wrongful advice and if the clients lost money, and Merrill profited - that's fraud," said Judge Andrew P. Napolitano, Fox News senior judicial analyst. "They'll be looking to see if Blodget was receiving compensation to tout bad stocks. If that's true, then in fact he was committing a crime and the DA has a right to look into that," said Stephen Oestreich, partner at Slotnick, Shapiro & Crocker in New York. If fraud is proven, it could result in jail time for the offenders if it was in excess of $10,000, the legal eagles said. The Manhattan DA's press office did not return calls seeking comment. Blodget could not be reached for comment by press time.

To: Sarkie who wrote (27185)	6/4/2002 12:54:10 PM
From: mikiespeedracer	Read Replies (1) \| Respond to of 28311

Here's an example of where some the cash is going. INSP bought out the lease on the Pier for 4.4 million. (last paragraph) Pier 70 attracts law firm by spiffing up the space By Bill Kossen Seattle Times business reporter For the past year, two floors of fixed-up office space in one of Seattle's older buildings, Pier 70, sat mostly empty, a victim of the high-tech meltdown. Now one of Seattle's oldest businesses, the Graham & Dunn law firm, will leave its downtown high-rise home of the past 13 years for the waterfront. It's an unusual move for a prominent law firm and an example of the deals businesses can get in the soft commercial real-estate market. Graham & Dunn, founded 112 years ago, will get not only a break in rent, but also some big freebies — a major remodel, an outside deck over the water, and two large signs on the building. Plus the law firm gets to move into a 100-year-old building with old-growth beams and charm that has been wired for the high-tech 21st century. It also sits in what has become a cool part of town, on the water just down the hill from Belltown, near several high-tech companies and popular Myrtle Edwards Park. "It's a bold move," said John T. John, president and managing partner of Graham & Dunn. "Lawyers don't have that type of image." But the response from clients and staff has been overwhelmingly positive, he said. The traditional layout of a law firm, with the top people getting corner offices with the best views, will be tossed overboard. "Down there, everyone will have a water view," John said. The move won't occur until April, when Graham & Dunn's 120 employees will vacate most of three floors in the 44-story U.S. Bank Centre. At Pier 70, it has signed a 10-year lease and will occupy most of the top two floors, or about 52,000 of the building's 85,000 square feet of space. The firm will share the building with two restaurants; Triad Development, which owns the building; and Pinnacle Realty, which moved in earlier this year. Pier 70 was converted in 1970 from a waterfront warehouse to a retail, restaurant and nightclub complex. Triad bought the building in 1995 and spent about $15 million renovating it, company President Fred Grimm said. The Internet company Go2Net moved in before it merged with InfoSpace, which consolidated operations at its Bellevue headquarters. Triad wasn't desperate for a tenant because InfoSpace's lease didn't expire until 2007, Grimm said. But the struggling Internet company bought themselves out of the lease a month ago for a reported $4.4 million, which gives Triad money to renovate the office space for the law firm. archives.seattletimes.nwsource.com