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

To: American Spirit who wrote (1186)	5/14/1999 12:42:00 PM
From: Stephen	Read Replies (1) \| Respond to of 1691

AS, imho the biggest benefit to BKS of the BNBN spin-off is that they won't have all the operating loss on their books. This was killing them. How it plays out long term is anyones guess

To: American Spirit who wrote (1186)	5/14/1999 1:58:00 PM
From: space cadet	Read Replies (1) \| Respond to of 1691

American Spirit, we actually agree that GS and co. are keeping BKS pinned to no higher than 35. And I agree, it's been virtually costless so far for them as the volume has been so low. Where we disagree is on the future. First, I sincerely doubt that BKS will move anywhere but maybe down a little next week as that's when options expire. No way in hell will they allow those may options to go into the money. If you had any experience in options you would see that also. After next friday the bnbn ipo will supposedly come out. Traditionally that drives the price of the mother company down, not up. Since bks hasn't gone up beforehand maybe it won't get hit too bad and maybe it will even hold 30. I don't know. Neither does anybody else. What we do know is that bnbn will be one hot IPO and will definitely skyrocket. Clearly, anybody able to has sold bks and bought bnbn as that is where you want to be. I think bks will be left in the dust. So I fail to see any rationale for buying bks. If you think their ownership of bnbn will justify a higher price than I point you to ZD, which is actually worth less now than their stake in ZDZ. The WSJ just pointed out that the new president (I think) of bnbn comes from bks and probably left because clearly all the movement in price is going to come from bnbn, not bks. Let's face it, this is one backdoor play that backfired. Time to move on...

To: American Spirit who wrote (1186)	5/14/1999 2:58:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 1691

GS and Merrill agree and suggest they can regulate the stock in the week or two before the IPO. But if you think they want, or will let, BKS stock fall from here you get them all wrong. How for god's sake! I think you've been breathing too much pure oxygen. Supporting a price means stepping in to sell when buyers appear and buying when sellers appear. In either case movements away from a clearing value must result in substantially increased volume. That's Economics 101 -- supply and demand curves. There is 0, none, nada, evidence of anything you are talking about. CTC