Word: auction
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...Internet collapse continues, and even substantial firms like Amazon and Yahoo are struggling to stay ahead of it. But eBay has never had it better. Revenues topped $430 million last year, up 92% over 1999. The auction king now has 22.5 million registered users, a number that grew at a 125% annualized rate last quarter. And it's on track to do more than $6 billion in gross merchandise sales this year...
With stats like that and the stock up 51% since Jan. 1, the New Economy pundits are scratching their heads. How is it that a flea-market auction site has become the most successful company in cyberspace? And when so many other dotcoms are crashing and burning, will this high-tech highflyer come down to earth anytime soon...
...took a personal call from a very nervous California governor Gray Davis to get the stay, and the administration hinted that this would be the last one. And so Davis is moving on with his solution No. 1, the state's auction of long-term, fixed-price supply contracts, aimed at stabilizing the long-term power supply now that the spot market is killing the state's power buyers. (This was almost a part of the original deregulation plan, but the utilities thought they could do better with short-term purchasing. They were wrong...
...Wednesday, the Wall Street Journal was reporting widespread criticisms of the auction by its participants. Steve Bergstrom, president of Houston utility Dynegy, described the state's bid request as "price, volume, term. It doesn't allow much creativity," he said. "But I don't guess there's anyone at the state who would understand anything much more complicated than that...
Earlier cases in which Harvard sued to protect its name were different. For example, just over a year ago, Congress passed an anti-cyber-squatting measure that touched off a raft of lawsuits, including one against a man who registered domain names such as "harvard-lawschool.com" and attempted to auction then off for thousands of dollars each. The University sued to protect its name--which has been trademarked since 1827--in a justifiable use of the law to protect its own interests...