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To: AugustWest who wrote (5308)	5/5/1999 9:25:00 AM
From: zuma_rk	Respond to of 20297

DEFINITELY don't want hyperinflated Yahoo stock, regardless of their wonderful future prospects. Just doesn't make sense. Expounding on the post from yesterday -- look at it this way: 'Spose you own and rent out three mom & pop stores in the concourse of Rockefeller Center in New York City (you know site of the famous skating rink, the Today Show studio, etc.). One's doing newspapers & magazines, one's a barber shop, maybe one sells chocolates (one of those Lindt chocolate shops (any relation, Tom?)). Anyway, Mayor Ghoul-iani announces a big plan to upgrade Rockefeller Center and turn it into an Urban Mall -- Sports Authority, Tower Records -- you name it - build it and they'll come (this is actually happening, BTW). So you're sittin' on these three little properties that have been churning out a respectable income for you for the past 15 years or so. So along comes "the Donald" one morning -- shows up on your doorstep with his bankers and lawyers -- he's got some complicated investment banker-type books and spreadsheets to calculate the present value of your future lease income, projected appreciation of the land (mostly based on past trends, of course), and offers a HUGE premium on this NPV calculation for your property in exchange for a part ownership stake in his trophy -- the wonderful, glitzy General Motors skyscraper he owns at the edge of Central Park. Only problem is, the building is SO high profile, and was so expensive for Trump to acquire, that it's still sitting half-empty, 'cause the rents are too high (with the exception of the famed FAO Schwartz toy store in the lobby, and the new "Good Morning America" studios that are being built there). So, what do you do... Given a scenario like this, why on earth would you jump the gun and sell out to the poster child for "the Emperor's New Clothes" vs. waiting a year or so and take take a calculated risk on the developments at hand? Anyway -- sorry that this has turned into kind of a convoluted analogy, but you get the point. I'd rather have the opportunity to sell 300 new Volkswagen Beetles that will bring in $20,000 apiece than have to move 60 Ferrari's that each retail for $100,000. ok, that's enough rambling for one morning (I figure I can't do any worse than Tom's post last night -- it must have been the 2x4 talking, sir)(just kidding, of course) rk

To: AugustWest who wrote (5308)	5/5/1999 9:26:00 AM
From: Harp	Read Replies (1) \| Respond to of 20297

Bank of America Purchases OFX Canopy Server Product Offered By Home Account Network ... looks like BoA is trying to build up its bill pay infrastructure biz.yahoo.com

To: AugustWest who wrote (5308)	5/5/1999 10:23:00 AM
From: Tom Klempay	Respond to of 20297

I agree with you about Yahoo vs. Cisco, however, I heard similar arguments then about the high P/E of Cisco. Of course, a P/E of >1000 vs. ~100 is quite substantial difference. On one hand, the prospect of being put in front of 40 million Yahooligans is quite enticing, but on the other hand, if you've worked 15 hard years to get to this point, it would be a pity to sell out now. A buyout by Yahoo would probably nix deals with other portals and we want to serve them all. If we build it, they will come. -tk