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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: option007 who wrote (6800)	6/5/1999 12:48:00 PM
From: B. A. Marlow	Read Replies (1) \| Respond to of 28311

Your GNET views are not supported by the facts, option. GNET insiders weren't, as you say, "eager to sell," and the $90 per share tender offer to shareholders represented not a ceiling but rather, a floor; it was instituted at GNET's behest, not Vulcan's. (Not a single outsider share was tendered to Vulcan at $90.) GNET's relationship with Vulcan is in no way comparable to the USAI/LCOS controversy. The history of Paul Allen's GNET investment is well documented on the thread. If you're interested, go back through the last few months of posts and understand the nature of the deal; if you're not, then you might want to avoid making statements that suggest ignorance. To say that GNET's current share price represents a loss of confidence in GNET is manifestly incorrect. It simply represents a short-term sector consolidation due to normal economic cycles--and effects on investors thereof. Such consolidation has occurred in the past and will occur in the future. The interest rate issue is largely noise, to which the herd reacts. That's all it is. By jawboning, Greenspan has already cooled off the the markets and the economy; he need not raise rates and probably can't anyway, due to the effect that doing so will have on the dollar, the trade deficit and fragile foreign economies. The markets will soon recover from this episode. The only question is whether incremental investors want to pay under $100 for GNET, or over $100. Given an apparent downside risk of $90, the answer's pretty simple. BAM

To: option007 who wrote (6800)	6/5/1999 1:58:00 PM
From: Blue Snowshoe	Read Replies (1) \| Respond to of 28311

007, Allen's $90 offer expired on March 15 (a long time ago). What GNET gets for shares they paid nothing for doesn't really matter and a deal is a deal. You may have forgotten but GNET at the time of the Allen offer was trading for less than $90, in the 70's if memory serves me right. So you are trying to use history for today? $90 doesn't matter, all it says is at one time (history) that is what Allen was willing to pay. I have a 59 Edsel that I bought last year for fun and because it was in mint condition. I like things you don't see every day. In 1959 the taxable value was $2,515, yup that is what a brand new Edsel sold for in 1959. So for the rest of time is that the price of the car? Is that what it is worth today? The answers are no and no. Since Allen's offer which was more than what GNET was trading for at the time, please tell me how that can be a good number today. Especially since GNET has bought Hagle.com and others that add value to the company. Also a long list of internet companies trade for more than GNET yet, GNET is gaining viewers not losing them. What price do we put on that? Allen once tried to buy a chunk of AOL for less than $100 so should less than a hundred be the FMV of AOL today? New day, new thinking, things change. GNET today is not the company it was when Allen made his offer several months ago. PLEASE, give this 90 bucks stuff a rest. If you would like to sell your GNET to me for $90 a share today, I'll gladly buy it. Please give the 90 bucks a rest and put it where it belongs, in a history book. BLUE