8.27.2005

Real ID Rebellion (a Yahoo group):

Here's a plce to discuss RealID: Come to the real_ID_rebellion at Yahoo. Here's a quote from the group's founder:
My daughter, 23, says I'm over reacting . . . Well, yeah! I think we should all over react a little! I'm 45, and remember the Cold War days, George Orwell, and also the patriotism that is no longer taught in our private government, oops, sorry, our "public" schools. I remember my history of the founding of our country, I remember the reason our ancestors and grandparents fought and died for our country, and I'm not going to sit still for this!

2 Comments:

Blogger Quit Smoking said...

Hello fellow fisherman,

Did you know that 16% of the U.S. population goes fishing at least 16 days a year?

Did you also know that over 75% of the nations fishermen do not fish during "prime time"; fish feeding hours?

Those precious few moments before twilight can be absolutely magical. Even up until 11pm at night, the largest predators of any species feed ravenously.

Don't believe me? Check out Daniel Eggertsen's story, and a picture of a couple of his catches here : "Evening Secrets plus more"

I want you to do me a favor and try it out so I can see what you think of it, and if it works for you as well as it did for me.

You will be one of the first to try it out.

Gone Fishin',

Neil

10/09/2005 4:43 AM  
Blogger BLANCHE said...

Nice blog. Have you seen your google rating? BlogFlux It's Free and you can add a Little Script to your site that will tell everyone your ranking. I think yours was a 3. I guess you'll have to check it out.

Computer News
China's Google rockets on debut
It was a remarkable debut. Chinese search engine Baidu.com's shares sold in the United States for US$27 ($39) - then surged on day one to close at US$122.54 ($177.46).

Friday's result was the biggest first-day gain for a new listing in the US for five years.

Investors had more than quadrupled their money.

An analyst in New York with IPOdesktop.com, a website devoted to initial public offerings, John Fitzgibbon, said: "This one is the return to the internet bubble. Last time we saw a deal skyrocket was during the frothy IPO markets of 1999 and 2000."

Then came the post-mortem.

Some analysts said the internet search engine could have had an even better payday for itself if underwriters had sold the deal at a higher price to begin with.

"It looks to me like the underwriters should have had a better indication of the appetite for this stock than they did," said Donald Straszheim, president of Straszheim Global Advisors.

Investors were eager to own a stake in a company that many say could grow as dramatically as Google and is based in a country itself undergoing explosive growth.

But other analysts are not so sure the underwriters made a mistake, given that the company's shares were priced at a relatively high multiple of revenues.

"It wasn't priced out of line with the rest of the market. In a situation like this, you're dealing with the unpredictability of the after market," said Tom Taulli, of Instream Partners in Newport Beach, California.

At issue is the underwriting process. Banks selling shares to the public - in this case Credit Suisse First Boston, Goldman Sachs, and Piper Jaffray - are paid to use quantitative models to determine a fair price for shares, but also to gauge investor demand.

Underwriting has both subjective and objective elements, making definitive evaluation of a bank's performance difficult. In this case, demand for the IPO was evidently outsized, but so were the unknowns for the company.

"We don't know the potential impact of censorship in China, or how quickly the internet will grow there," said David Menlow, president of IPOfinancial.com. Had the IPO been priced higher and then fallen in the first day of trading, investors could have sued.

Baidu.com chairman and chief executive Robin Li, speaking on CNBC, said he was not upset by the potential lost proceeds of the IPO because the company had only sold a small portion of itself, and had significantly more growth ahead.

But University of Florida Professor Jay Ritter, an IPO expert, said Baidu.com left money on the table by introducing the shares at a level well below where they ended hours later.


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10/14/2005 12:23 PM  

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