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

To: Glenn D. Rudolph who wrote (57181)	5/17/1999 10:03:00 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 164684

Jeez Glenn. Acquisions for stock are capital expenditures? Leases aren't capital expenditures, it's debt. Leasehold improvements are capital expenditures. Barnes & Noble has spent over $700 million in cap-x.

To: Glenn D. Rudolph who wrote (57181)	5/18/1999 3:32:00 PM
From: Greater Fool	Respond to of 164684

>>billion-dollar run rate business that had spent a total $30 million on capital improvements and carried $30 million in inventory Back on my soapbox: People seem to lend a lot of weight to the fact that Amazon has low fixed assets and low inventory. That most definitely does not mean it's a good business to be in. To plagiarize a recently cited Internet business model, I can sell dollar bills for ninety-five cents and have skyrocketing revenues with low cap ex and low inventory, but that most definitely won't be a good business. At the end of Q1, Amazon had a billion dollar run rate business that still wasn't making any money. That is unparalleled ... failure. Did anybody not catch the first salvos of the online price wars on best sellers? Did anybody think that with price so utterly prevalent in all other forms of shopping that net shopping would somehow be immune? I also noticed the following: "There are three things that drive this business," said Bill Curry, a spokesman for Amazon. "It's selection, price and convenience." Uh, what happened to the brand loyalty that Amazon was supposed to have engendered? Obligatory disclaimer: I have no position in Amazon and hold no opinion on whether the stock price is going up, down, or sideways.