Word: unload
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Overall, Priceline savings present a crazy-quilt pattern. The company has succeeded in lining up partnerships with second-tier telephone companies eager to unload excess long-distance capacity, such as Net2Phone and ZeroPlus.com so consumers shopping for long distance via Priceline can get good deals. But with major oil and gas companies such as Exxon-Mobil and Texaco, Priceline has struck out. Oil companies that spend millions building brands are loath to sell gasoline via a site that puts price before brand...
...talked to an old London dockhand some time back. He allowed as how in 1970 it took 108 guys about five days to unload a timber ship. Then came containerization. The comparable task today takes eight folks one day. That is, a 98.5% reduction in man-days, from 540 total to just eight...
Instead of just sitting there, these folks tended to take their profits and run. After all, what's the sense of being filthy rich if you don't lighten your portfolio or unload your overvalued securities in time...
That's how bear markets go. Instead of every dip being a buying opportunity, every rally becomes a chance to unload. "For the first time in a while, people have got really scared," notes longtime bear Barton Biggs, chief global strategist at Morgan Stanley Dean Witter. He was expecting more selling this week, fueled by margin calls, margin-related liquidations and fidgety institutions. Mutual-fund investors, generally, have been holding on, Biggs says, though they haven't been aggressive buyers, and some fund companies got hit with redemptions. [What should you do? For advice on riding out volatile markets...
...Examiner, may be the initial death throes of a government policy that for more than 30 years has attempted to keep at least two newspapers in America's major cities. The Hearst Corporation thought it had bypassed the policy last week when it inked a deal to unload its faltering Examiner, a move that would allow it to buy that paper's successful long-time rival, the Chronicle. Those plans were put on hold Thursday when a U.S. district court judge halted the move based on a petition by local political gadfly Clint Reilly, who argued that the subsidized transfer...