-Zack
> -----Original Message-----
> From: owner-lbo-talk at lists.panix.com
> [mailto:owner-lbo-talk at lists.panix.com]On Behalf Of Tom Lehman
> Sent: Saturday, January 05, 1980 1:51 PM
> To: lbo-talk at lists.panix.com
> Subject: Re: thegreatcrash.com press release
>
>
> The old saying is, it takes money to make money. I don't think anyone has
> proved that statement incorrect.
>
> A couple of weeks ago I posted some url's on FreeMarkets the
> Pittsburgh internet
> auction ipo. I don't know if Zack caught any of that stuff?
>
> To make a long story short this high flying ipo raised 10.7 billion giving
> FreeMarkets a bigger market capitalization than steel/energy
> giant USX. The
> kicker is that Freemarkets has 300 employees and has been a
> money loser; not to
> mention that their plan is to "make markets" by acting as an
> auction house for
> industrial supplies and raw materials. This all sounds good
> until you get into
> the mechanics of things.
>
> GM had some sort of an arrangement/contract with FreeMarkets. GM
> claims that
> they told FreeMarkets that they were going to cancel this
> arrangement back in
> November prior to the big ipo. Since word of this hit the
> newswires a few days
> ago FreeMarkets stock has plunged roughly 130 points!
>
> I'm surprised about the Mellon-Scaife money behind this
> Freemarkets deal with or
> without the GM contract. Take a look at the stuff I posted from
> the Pittsburgh
> Post Gazette.
>
> Tom Lehman
>
>
> "christian a. gregory" wrote:
>
> > ----- Original Message -----
> > From: Doug Henwood <dhenwood at panix.com>
> > To: <lbo-talk at lists.panix.com>
> > Sent: Thursday, January 06, 2000 10:35 AM
> > Subject: RE: thegreatcrash.com press release
> >
> > > From Richard A Brealey and Stewart C Myers, Principles of Corporate
> > > Finance, Fourth Edition (McGraw-Hill, 1991), p. 60. Maybe there's a
> > > new edition that's gotten more in touch with the New Era. Their use
> > > of DEC as a growth stock example is pretty sobering.
> >
> > I went to Amazon to check out this book. Thought this review was
> > interesting (and there are three or four more on the site like this):
> >
> > Why do investment bankers on the Street love this book?
> Simple---it makes
> > their lightweight discipline look like rocket science,
> especially if you're
> > unitiated. The structure of the book is tortuous and confusing,
> there is no
> > mention of CAPM or Arbitrage Pricing Theory, precious little
> attention to
> > statistics, and the authors' idiosyncratic (and unfunny) sense
> of humor. For
> > those who want a thorough, simple introduction, get
> Ross/Westerfield/Jaffe's
> > fine Corporate Finance; for those who want to get their hands
> dirty, try any
> > of Damodaran's books or Bodie/Kane/Marcus Investments. Frankly, finance
> > should be about making money---not wading through this kind of garbage.
> >
> > Rocket science without statistics? How could it be?
> >
> > Christian
>