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

To: Glenn D. Rudolph who wrote (19441)	10/1/1998 1:20:00 PM
From: Mark Fowler	Respond to of 164684

Just couldn't resist buying more Csco today.

To: Glenn D. Rudolph who wrote (19441)	10/1/1998 1:25:00 PM
From: M. Frank Greiffenstein	Read Replies (2) \| Respond to of 164684

Big picture redux... Glenn, with deflation creeping in, here is what I see... Falling prices puts margin pressure on books. Do I want to pay $7.95 for some thin, big print title by some famous author? $17.95 for a CD? This trend will depress AMZN margins. And BK and Bertelsmann will win any pricing war over the long haul. But AMZN's 2008 bonds keep paying a fixed 10%. Unless AMZN can renegotiate those bonds, they will find themselves paying high interest in a situation of declining margins. Not a pretty picture. Of course, this won't happen overnight. In the short term, I see trouble in the form of SEC changes. Maybe AMZN has to write off more of the Jungalee deal than they have to date. And we still need to know what kind of bonds AMZN holds...and whether they are leveraged or involved in any kind of derivative deal. Bezos probably can't help himself, he is after all a hedge fund manager. DocStone