From: owner-alloy-digest@smoe.org (alloy-digest) To: alloy-digest@smoe.org Subject: alloy-digest V5 #112 Reply-To: alloy@smoe.org Sender: owner-alloy-digest@smoe.org Errors-To: owner-alloy-digest@smoe.org Precedence: bulk X-To-Unsubscribe: Send mail to "alloy-digest-request@smoe.org" X-To-Unsubscribe: with "unsubscribe" as the body. alloy-digest Monday, May 8 2000 Volume 05 : Number 112 Today's Subjects: ----------------- Alloy: Hey all.. ["Stephen M. Tilson" ] Alloy: more on Beatnik/public stock offerings [RThurF@aol.com] Re: Alloy: calendars! [RThurF@aol.com] Re: Alloy: Hey all.. [RThurF@aol.com] Re: Alloy: couldn't be more OT!! (was: Hey all..) [RThurF@aol.com] ---------------------------------------------------------------------- Date: Sun, 7 May 2000 03:39:41 -0400 From: "Stephen M. Tilson" Subject: Alloy: Hey all.. Paul codes: > Yeh, count me in! Huh. Tried that on *my* HTML editor... No joy! That'll teach me to try using Macintosh tricks on a PC! , /\/\iles ------------------------------ Date: Sun, 7 May 2000 18:13:48 EDT From: RThurF@aol.com Subject: Alloy: more on Beatnik/public stock offerings IPO VIEW-New issues wait before entering changed market By Denise Duclaux NEW YORK (Reuters) - Companies planning to go public remain sidelined amid stock market gyrations sparked by the threat of a sharp interest-rate hike and await stability before entering what it is expected to be a changed environment for new issues. ``Right now, it's a time of caution,'' said Ward Morgenthau, a senior vice president with Laidlaw Global Corp. ``You have to get the rest of the ship on an even keel before you can get the little vessels going. I think the IPO market is looking for signs of stability in the Nasdaq and the general market.'' While no one is certain when the once-bustling initial public offering market will pick up its pace, some doubt it will be any time soon. Last week, a slew of companies, including Annuncio Software Inc., Techies.com Inc., Beatnik Inc. and Linuxcare Inc., filed to withdraw their planned initial public offerings and pointed to unfavorable market conditions as the culprit. ``We believe the IPO market won't pick up in force until the fall,'' said William Buchanan, head of equity capital markets at SG Cowen. ``There will be some activity through the next few months, but true stability usually takes several months to be established.'' When companies do begin to hit Wall Street in full force, ''older economy'' companies are expected to enter the fray as high-flying technology companies come down to earth. The technology-loaded Nasdaq composite index is still off 6.2 percent for the year. The Nasdaq, as well as blue-chip gauge Dow Jones Industrial Average, remain rocky ahead of a Federal Reserve meeting on May 16 that will determine whether interest rates will rise. ``In the last year and a half, the IPO market has been largely synonymous with tech stocks and the tech stock valuations have gotten clobbered in the last two months,'' said Jay Ritter, a professor of finance at the University of Florida. ``It's conceivable that even if the Nasdaq stayed down, if the valuation of other sectors went up a more diverse group of firms might go public rather than being so tech-oriented.'' Indeed, Krispy Kreme Doughnuts has managed to swing higher in the face of market volatility, while many technology start-ups have been hammered by skittish investors. Shares of Krispy Kreme, which priced at $21 per share in April, closed at 44-7/8 on the Nasdaq on Friday. ``If you look at Krispy Kreme, granted it's a small float, but it's done very well in the after market,'' said Kenan Pollack, money editor at Hoover's Online. ``It's a well-run company, and people understand the product. It's back to the basics.'' Wall Street will also likely demand that businesses seeking a public listing have an operating history extending more than a few months back - and the financial results to prove it. The initial public offering market has been flooded with start-ups eager to enter the market while demand for newly public companies was still hot. ``(Investors) will look for business models where there is a clearer path to profitability and, importantly, cash flow,'' said Christopher Ely, co-manager of Loomis Sayles Small-Cap Growth Fund. ``I think they will reject or look askance at business models built on continuing to come back to the markets on a very regular basis for incremental cash...,'' he added. ``I think more fundamentally solid companies will be coming public.'' And the new-issues market, which during its heyday saw many companies tripling and even quadrupling in their first days of trading, will likely pull in more modest first-day gains in the face of discerning investors. ``I'd be surprised if we ever see a frenzy like that again,'' Ritter said. This week, the initial public offering calendar continues to be light. Among the deals tentatively scheduled to begin trading are Netease.com Inc., an Internet company that offers Chinese language-based content and e-commerce services, and DigitalWork.com Inc., which provides Internet-based business services to small companies. ------------------------------ Date: Sun, 7 May 2000 18:23:50 EDT From: RThurF@aol.com Subject: Re: Alloy: calendars! In a message dated 5/6/00 8:09:48 AM Eastern Daylight Time, Blagg@norling.fsnet.co.uk writes: :: Moi aussi, Trev...(when do you want the pictures by?) :: Thanks Trev!! Pictures are due by September. I'm making a list of people who've expressed interest in contributing a picture for the Alloy calendar, and I'll be sending out mailing or scanning info soon. Robin T ------------------------------ Date: Sun, 7 May 2000 21:29:00 EDT From: RThurF@aol.com Subject: Re: Alloy: Hey all.. In a message dated 5/6/00 4:19:00 AM Eastern Daylight Time, justsomeguy@ozemail.com.au writes: :: I actually got to see RCR do two live songs on a TV programme last Saturday night, you were right, they were a real scream! I don't think I've seen a double bass solo played with drumsticks before. Wish I'd gone to see them now. :: There's always next time... those guys were so psyched to be going to Australia (they'd wanted to for soooo long) I know they'll be dying to go back the first chance they get. I'm glad they gave such an impressive tv appearance! Robin T ------------------------------ Date: Sun, 7 May 2000 21:37:11 EDT From: RThurF@aol.com Subject: Re: Alloy: couldn't be more OT!! (was: Hey all..) In a message dated 5/6/00 4:19:10 AM Eastern Daylight Time, justsomeguy@ozemail.com.au writes: :: Heh! Well, not sure really, chickens usually peck their food :: hey, for a true story of scientifically marvellous proportions, check out: http://www.miketheheadlesschicken.org/ Mike was a chicken who really did live for nearly two years after decapitation, and even mimed pecking at his food when he was hungry (his caretakers fed him with liquified chickenfeed via an eyedropper at such times) It apparently doesn't take too much brain matter to continue being a chicken. Mike the Headless Chicken is kind of my Subject du Jour, so please forgive me for my completely off-topic mention of him. But do check it out if you're looking for a real piece of folklore of the American Midwest :) And don't miss Mike's fan mail! Robin T ------------------------------ End of alloy-digest V5 #112 ***************************