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

To: Curlton Latts who wrote (42320)	2/25/1999 8:15:00 AM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 164684

15% underwriting fee? No way again, maybe 5-7% all-in-cost max for a private placement of this nature. That's standard. Curlton The writing was for junk bonds and was a private placement. The 15% is mentioned right in the SEC filing that Morgan Stanley receives. Read it it befor you say no way please. You 5-7% is a correct typical figure for common stock underwriting. I am not going to address the rest of your post due to time. I have gone over this many time on this thread. Please feel free to believe strongly in the fundamentals. They have no correlation to the stock price. I am in the retail business and payables will be due within 30-45 days and is a "source of working capital." I agree there will continue to be payable but the payables from January will be less than that of December since Amazon did less business in January. Amazon stated that. Finally, the liquidity of the use of payable funds eventually becomes a one time liquidity issue. It does not grow much in the future unless revenues do and I also agree revenues are growing so this source will grow until the growth in revenue slows. I do stand by by cash on hand of about $1 billion at present. I do not know how much cash was spent for Drugstore.com. The press release was an "undisclosed amount of money." I am not a long investor in Amazon so cannot complain but if I were, I believe I would be entitled to know how my company spent when my company has a negative tangible book value and debt is increasing quickly. The media typicall uses the phrase "undisclosed amount of money" when there is a bank or jewelry store robbery. It has the sound of being sinister and I find it hard to believe that is a trade secret. I did not say I was going to address the rest but I got started and could not stop<G> My apology stands because my tone was bad. We are in a situation where a lot of analysis is subjective. The price of Amazon's stock proved me wrong last year so I have to wait until Amazon proves my fundamentals to be correct. Glenn PS Let's all have a profitable day!