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| Author | Topic: CDNow (CDNW) |
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caffeine unregistered |
posted 07-21-2000 01:40 PM
CDnow will only stay alive because of the name that it has. In the two years that its been around, CDnow has built quite a name for itself but without much to show afterwards. The digital music industry will be worth billions!! billions!! -caff check out my site people.. www.internetplayersclub.com |
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InvestorGuide Daily Administrator |
posted 07-20-2000 07:04 PM
In brief: - Bertelsmann AG is announced Thursday that it is buying struggling online music seller Cdnow for about $115 million. |
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InvestorGuide Daily Administrator |
posted 06-16-2000 06:21 PM
In brief: - Cdnow is warning stockholders that it may not find a buyer before the end of this quarter, and the potential buyers may come in with offers below the company's common stock price. |
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KeithG |
posted 06-15-2000 01:47 PM
 I know I posted it myself, but I thought this was funny. The exact same guy that was recommending CDNow yesterday is removing his buy rating. He said that the data he looked at positively yesterday (I thought it was positive data too) were "New Economy Metrics" and that there has been a return to Old Economy Fundamentals. I guess if there really isn't money to be made from people viewing your website, there is a lot more shaking out that is going to have to be done. From the streetadvisor: |
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KeithG |
posted 06-14-2000 01:28 PM
 CDNow is announcing a marketing arrangement with Time Warner, apparently. Here's the article I found, it is speculative but recommends CDNow as a buy at its levels. I must say, there is value to be gleaned from CDNow--not so much in its ecommerce, but in its user base. It is second in visitors to Amazon, and visitors spend 26 minutes per trip as opposed to 16 minutes for Columbia House, which was in 2nd place--both comparions were for similar sites.Check it out: http://streetadvisor.com/Article/Article.asp?aid=3144 |
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InvestorGuide Daily Administrator |
posted 06-02-2000 05:37 PM
In brief: - Cash-starved online music retailer CDNow expects to complete its four-month search for a merger partner or major investor by the end of June. Shares jumped 110% on the news. |
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newguy |
posted 05-11-2000 02:40 PM
Additionally, repricing options for employees often results in lawsuits from shareholders whose shares are being diluted. I don't know of any such lawsuits after simply granting employees new options to achieve the same end... it would be very difficult to win such a case, because options are given to employees for a variety of reasons. The law doesn't treat the two events the same way, but they probably should. Most investors don't treat the two events the same way, but they certainly should. |
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KeithG |
posted 05-11-2000 10:38 AM
I posted this in the Microsoft board, but I know there's been more discussion on this matter over here. Apparently there is a pretty important distinction between repricing options and issuing new options. I read an article this morning that said if you reprice old options, the numbers have to figured into a profit report, but if you simply issue new options, the company's profit report is unchanged. So, Microsoft obviously chose to issue new options, instead of taking the large hit against their profits for the quarter. it seems to be a strange accounting practice--two things that fundamentally do the same thing, yet are treated in two different ways. It makes me wonder why anyone would ever reprice old options? I have no idea how CDNow did it, but it would have an impact on the numbers. BTW, the estimated value of the new options from Microsoft was estimated to be $1.4 billion in the article I read. |
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InvestorGuide Daily Administrator |
posted 05-05-2000 05:32 PM
In brief: - Mexican billionaire Carlos Slim Helu has bought a 9.2% stake in troubled online music retailer CDNow (CDNW) for $52.8 million, a filing with the SEC showed today. |
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Earnings Administrator |
posted 05-02-2000 07:02 PM
CDNow missed expectations and predicted slower sales: http://prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-02-2000/0001207486 Company (ticker): reported, expected, same q last year CDnow (CDNW): -$0.92, -$0.88, -$0.90 |
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netinvestor |
posted 04-28-2000 10:57 AM
I'd agree with Mr. Price that if the options are across the board then its better that just for a few execs, but you still might have the problem of dilution. Here's another article about the culture of stock options. It mentions the other thing I was talking about, that you actually DO incur some risk in joining a startup... |
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MaxPower |
posted 04-27-2000 04:54 PM
Here's some info I found regarding the MSFT repricing of options: "One institutional shareholder says the move makes sense for Microsoft as it fights to retain a new generation of managers who haven't achieved the phenomenal wealth of their predecessors at the company. 'In the software business, it's all about people,' says Walter C. Price Jr., managing director at Dresdner RCM Global Investors and co-manager of the Dresdner RCM Global Technology fund. 'Your products basically expire after a year or two. ... To the extent that they can put a carrot out there that holds their employees and gives them a reason to stay, I think that's great.' Dresdner RCM held $1.8 billion worth of Microsoft stock as of Dec. 31. Though Microsoft is issuing new options, the usual remedy that companies take to cure their employee stock option programs is to reprice their options, or change the price at which options can be exercised. These options represent the right to buy shares at a particular price; options that are "underwater" are those with an exercise price that's more expensive than the price of the shares on the open market -- not much of a bargain. Already this year, Internet retailers CDNow and Barnesandnoble.com have said they are repricing employee stock options. PC hardware concern Iomega said this month it would hold a shareholder vote on a repricing, but the results weren't immediately available. In judging whether it's appropriate for a company to reprice its options, Price says he looks at several issues, such as how many employees benefit from the repricing. 'If it's broad-based and covers the bulk of the employees, and not just a few executives, then we understand and tend to look at those situations more favorably,' he says. Like other investors, Price keeps an eye on how much employee options add to the number of shares outstanding, and thus dilute his firm's holdings in a stock. 'What is the annual option grant as a percentage of shares of a company?' he asks. 'If it's less than 4% or 5%, I think that's reasonable. If it's 5% or 10%, I have a problem with that.'" |
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netinvestor |
posted 04-26-2000 09:44 AM
Did it say how they priced the options? I think company policy is 85% of the lowest price your first month on the job... At least that's what I remember my friend who works there telling me. If that's how these are priced anyone who has started working recently wouldn't exercise the options... can you point me to the AP story please? |
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MaxPower |
posted 04-26-2000 09:01 AM
Speak of the devil - the AP intercepted a company-wide email that Ballmer sent to all MSFT employees stating that they would all receive new options equal to the amount received last June in an effort to boost the deflated stock price. Thoughts? |
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netinvestor |
posted 04-25-2000 04:04 PM
Sorry i've been AWOL for a few days, and didn't know you had written back dude. quote: I'm not sure if they are doing it, but they are definitely offering more and more options to people to keep them around. That might have some detrimental effects way down the road, but its not as ethically hollow as what it sounds like CDNow execs are trying to do. Microsoft is rewarding and trying to keep good employees, and CDNow is trying to reward its management even though they didn't succeed. MaxPower, starting a company with aims like yours and offering stock in one that says it looks after its employees first and stockholders second is fine. Investors need to know that beforehand though. That's where this situation is a bit different I think, and that's why the shareholders might be able to sue. |
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