midwestguy - 11:27 pm on Oct 23, 2003 (gmt 0)

<rant>
I think any so called warnings and worries we may be hearing is just spinmeistering and noise masking fear and panic felt at the prospect of missing out on the obscene profits and fees made by the folks who make their money off big investment banking/IPO business, like Google represents.

These folks have been drooling at the prospects of taking Google public for a long time. No doubt some of them are lucky if they were sitting down when they heard the news google may go public without their "help" and "guidance".

It's downright awful how much pre-IPO company owners often get short changed by the investment banking/IPO crowd who do their IPOs. Just to cite one example: all the quick in and out the same day money made by "buddies" of the investment bankers who are doing the IPO selling large blocks of the IPO stock at below **current** market price to their "buddies" who then immediately flip the stock -- so those same "buddies" will let them make some quick cash on the same kind of sweatheart deal via an IPO stock allotment on the next IPO their buddies do. That money should go to the companies whose stock is being IPO'd off.

These sweatheart deals between investment banking buddies can run into the hundreds of thousands and even millions; and that's for *each* of several "buddies" per IPO. That's a lot of money that could go into capitalizing future business growth of the company instead of "bribes in advance" for a return favor paid back to them when their buddies do *their* next IPO and allow them to flip that stock on the IPO day of their buddies stock. They get their fees; that's enough, IMO.

Good for Google. I hope they make a mint for themselves.

And if the stock fluctuates, so what. Any expressed worries by the same type of hypesters that don't seem to worry about the triple digit P/E ratios of stocks they or their firms suggest clients buy is nothing but self serving verbal puke IMNSHO.

Go Google!

P.S. I love business....but hate the parasites that sap the marrow from its bones.....like the investment banking/IPO crowd on wall street. Blah.
</rant>

[edited by: midwestguy at 11:34 pm (utc) on Oct. 23, 2003]