Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Glenn D. Rudolph who wrote (57107)	5/17/1999 4:00:00 PM
From: Mark Fowler	Read Replies (2) \| Respond to of 164684

Thanks Glenn perhaps this is seasonal. Nevertheless 32 days is good use time for money times 12 times the going rate.

To: Glenn D. Rudolph who wrote (57107)	5/17/1999 8:55:00 PM
From: Glenn D. Rudolph	Respond to of 164684

FOCUS-Amazon.com price cuts matched by two rivals (recasts, adding details, new information on rivals, stock activity.) NEW YORK, May 17 (Reuters) - Rival online booksellers barnesandnoble.com <BKS.N> and Borders.com <BGP.N> on Monday slashed prices on all books on the New York Times bestsellers list, matching a move made earlier in the day by No. 1 online retailer Amazon.com Inc. <AMZN.O>. Both barnesandnoble.com and Borders.com said they would cut prices up to 50 percent on every book listed on the Times bestseller list, which is divided into three categories: fiction, nonfiction and advice/how-to/miscellaneous. All three retailers said the discount applied to both paperback and hardcover titles. "This is not a sale; this is not a promotion -- this is everyday low pricing," said Jeff Bezos, Amazon's founder and chief executive. The No. 2 online retailer barnesandnoble.com, which currently sells books on the bestseller list at 40 percent of publisher's prices, followed suit on Monday afternoon raising its discount to 50 percent. "At our existing sales volume, the additional discount on bestsellers will have a minor effect on our operating margin," said Chief Executive Jonathan Bulkeley. "At the same time, we believe that this new price schedule will attract many new customers to our site." Ann Arbor, Mich.-based Borders.com, the online unit of Borders Group Inc., said it would match the cuts made by its online rivals. "We won't allow incremental price differences to serve as a distraction to our customers and our mission," said Rick Vanzura, president of Borders Online. Shares of Amazon.com closed at $137.625, up $5.25 from Friday's price on the Nasdaq. Shares of barnesandnoble.com ended at $33.19, down $1.12, while Borders Group closed down 50 cents at $15.875, both in trading on the New York Stock Exchange. As of Monday afternoon, only Amazon.com had updated its Web site to let visitors know the price cuts were in effect. A hardcover bestseller like The Century, by Peter Jennings, which lists for $60, now sells for $30; We'll Meet Again, by Mary Higgins Clark, is priced at $12.50, down from the $25 list price; and Business at the Speed of Thought: Using a Digital Nervous System, by Bill Gates, sells for $15, half the list price of $30.