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To: cellhigh who wrote (25705)	11/11/1998 5:47:00 PM
From: llamaphlegm	Respond to of 164685

<<<Bought more Amzn 129 and change. >>> Mark: Then you are a very silly or daring man. lp

To: cellhigh who wrote (25705)	11/11/1998 5:55:00 PM
From: llamaphlegm	Respond to of 164685

there's competition in them thar hills Wednesday November 11, 5:21 pm Eastern Time FOCUS-Mondadori, Bertelsmann in new book deal By Giancarlo Navach MILAN, Nov 11 (Reuters) - Italy's largest publisher, Mondadori , on Wednesday unveiled an expanded alliance with German media group Bertelsmann (quote from Yahoo! UK & Ireland: BTGGga.F) covering mail- order book clubs and the sale of books over the Internet. Arnoldo Mondadori Editore said it would split off its Editors' Club mail order division and join it with Euroclub -- a mail order company owned by Bertelsmann AG -- to form a new company based in Milan. The joint venture would have working capital of two billion lire and be controlled equally by Mondadori and Bertelsmann. Mondadori is 50.1 percent controlled by Italian media entrepreneur turned politician Silvio Berlusconi. The firm gave few other financial details, but managing director Maurizio Costa told a news conference the book venture -- to be called Mondo Libri -- would not involve any exchange of shares. Mondadori shares rose eight percent in Milan to close at 20,717 lire after the announcement. It was the day's fifth biggest bourse gainer. ''We have a three-year plan which sets out objectives for the market, increasing the number of partners, as well as the turnover,'' Bertelsmann book divisions president Frank Wossner told the same news conference. Editors' Club, the Italian leader in direct book sales, had 1997 sales of 11 billion lire. Bertelsmann, which has the world's largest network of book clubs, posted 1997 book and music sales in Italy worth 90 billion lire. ''The joint venture is the outcome of a long development process. Mondadori is the only Italian partner with which we intend to operate in the book sector,'' he added. The Italian publisher said at the start of this year that it was considering a number of potential allies for expansion, including Bertelsmann, U.S.-based computer magazine publisher Ziff Davies, U.S.-based Hearst and others. Mondadori and Bertelsmann are already partners in the magazine sector with stakes in German publisher Gruner Und Jahr, which produces Focus, Vera and Top Girl. The new book venture will operate in the two companies' existing markets. Its managing director has not been named, but is expected to come from Mondadori for the first three years. Alongside the traditional book deal, the German and Italian groups vowed to cooperate in the fast growing on-line book business, currently dominated by web-friendly names like Amazon.com Inc. (Nasdaq:AMZN - news) of the United States. ''The agreement also includes a project for an alliance in selling books via the Internet through a joint company held equally by Mondadori and Bertelsmann,'' the statement said. On-line bookshops already stiff competition. Last month Bertelsmann AG took on Amazon.com in its backyard by agreeing to pay $200 million for half of Barnes and Noble's online business.

To: cellhigh who wrote (25705)	11/11/1998 6:58:00 PM
From: Glenn D. Rudolph	Respond to of 164685

glenn...i'll bet you sleep much better tonight..as a long myself, i know how wacked we can get in these nets short or long. fwiw i got out of amzn at the open 133.5 however held aol,which lost more % today????go figure. even so if things get really dicey i would rather own aol. cellhigh, Good move on getting out near a top today. I definitly agree with AOL as "safer." The stock may be pricy depending upon who you ask. The fundamentals of the company are excellent and they have proven themselves. I was long AOL once and exited with a nice profit but way too soon. Hindsight is so easy:-) Glenn