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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (20798)	4/26/2004 9:15:30 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 81474

GOOGLING FOR PROFITS: Where is the Public's Exit Strategy? Listening to NPR's Marketplace and other sources today, I have gotten an impression of the upcoming Google IPO. The media is in a lather over this one. While I would have expected a sober and adult media to remind the public of the fabulous way they were ripped off in the dot.bomb mania, I would be wrong. Instead of reminding the public to be wary in the face of, well, media hype they are going out of their way to report on the excitement of it all. Gosh, "Google makes money" the media gushes. It's got revenues of nearly $1 Billion per year! Holy cow pies! I nearly tossed a brick at my radio when the cub reporter breathlessly told us that Google was being priced to sell at a Price-To-Sales ratio of about 20 to 25! Why can't these dim-wits ask the important question -- What is the public's exit strategy? *** I've really thought that Ken Deffeyes is one of the drollest men in letters today. Here's something from the frontispiece of his book on the awl bidness: DEFFEYES, Kenneth: Forward to "Hubbert's Peak" -- It is difficult for a single author to discuss an entire industry as complex as the international petroleum industry. Although the author has made a good faith effort the likely future course of the industry, circumstances may change and the author may have overlooked something that will turn out to be important later. Anyone considering an economic strategy should consult with a professional investment advisor. Your professional investment advisor -- you know, they guy who assured you that dot.coms did not have to show a profit." -- Prof. Emeritus Kenneth Deffeyes, "Hubbert's Peak"