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Non-Tech : Barnes & Noble (BKS) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (560)	4/2/1999 1:38:00 PM
From: Manny	Read Replies (1) \| Respond to of 1691

Wit Capital is eManager, and thats one way you could probably get some BNBN shares. BNBN has already started advertising big. I hear them on the radio all the time starting this week. Thats good. www.IPO-Alert.com indicates BNBN IPO will be wk of Apr 26. I think BNBN will be a moonshot, because hungry investors need another Amazon. I sure hope to get some IPO shares thro Wit Capital.

To: Tom Hua who wrote (560)	4/2/1999 1:54:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 1691

The Ingram acquisition definitely gives them a competitive advantage over AMZN on the supply side. Time out for some math and rambling thoughts. While the barnesandnoble.com (BOOK) deal has not yet been priced, the S-1 talks about raising $200.0 MM. Assume that the $200.0 MM buys 15% of the company. That places a $1,333.0 MM value on the company, of which 50% ($666.7 MM) is applicable to BKS. That works out to $9.71 per BKS share. Obviously, BOOK is not going to trade at the offering price. Assume that it is assigned a value equal to 10% of AMZN. That works out to 2.7235 MM, of which 43.5%, or $17.26 per share, is applicable to BKS. Discount that by 40% to $10.35 per share. At a current price of $33 per share, that means that the "bricks and mortar" are being valued at $1.554 MM. The current market cap of Borders (BGP) is $1.079 MM. Note that while the BKS "bricks and mortar" are substantially larger, BGP is more profitable. I'm still on the fence.

To: Tom Hua who wrote (560)	4/5/1999 8:20:00 PM
From: LTK007	Read Replies (3) \| Respond to of 1691

Tom I have taken a position today in BKS,and have been confused however regards it's inability to break-out. But I just caught something on CNNfn that made me wonder have been missing some legal issue going on with BKS and their spin-off? Unfortunately I was not really listening,all I heard was something about the spin-off being approved is a certainty,and something about this being because the matter of keeping the financials of the spin-off seperate is resolved.(or will be?) This is a bad report on my part for sure,as I simply didn't catch every word,but just thinking that you or someone else knows what this CNNfn chattering was about.Max90