Word: amazon
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With its own auction launch, Amazon continues its mutation from bookseller to e-tailer nonpareil. The auction area is carrying tens of thousands of items, including a signed copy of Hem-ingway's A Farewell to Arms--Amazon will, of course, be strong in rare books. "Our vision is to build a place to find and discover anything our customers might want to buy...[including] car parts and spark plugs," says Bezos, whose firm's ever inflating stock price jumped an additional 15% on the news. Says Larry Schwartz, president of rival Auction Universe: "It's kind of frightening--they...
These newbies, who have seen the 20- and 30-fold moves of stocks like Amazon and Yahoo, think the danger lies in sitting out these moves in the Pepsis and Mercks. And who is to blame them? Lately I have come to wonder whether the risk-reward parameters I cut my teeth on are as out of date as those of my parents' generation, which saw utilities as safe, conservative growth vehicles that would leave hefty rewards for their children. They didn't. At what point, after how many new fortunes, can we proclaim the old paradigm of stock risk...
...express purpose of duplicating its prized information database--a vast system that tracks customer shopping patterns and product flow. "There's a lot of computer talent out in the Valley," notes Wal-Mart spokeswoman Betsy Reithemeyer. "If you're coming to Bentonville, you're looking for something specific." Amazon has filed a countersuit denying the accusations. The company says it was just looking for talented people...
...former Microsoft executive Peter Neupert, launched its virtual pharmacy and a selection of 15,000 health and beauty products to a rousing chorus of approval. A crush of visitors overwhelmed the site. Another admirer is online bookseller Amazon.com which said it had acquired 40% of the fledgling company. For Amazon founder Jeff Bezos, the investment made sense. He has been on the prowl for other retail businesses that fit Amazon's amazing model, and the health-and-beauty sector is six times as large as the book market. "Nobody likes going to the drugstore," Bezos jokes. This week PlanetRx, headed...
Neupert and Bezos, though, are still convinced that the kind of convenience and shopping experience the Web affords will attract consumers the way Amazon has done. If they're only half right, they've still got a healthy business...