For years I’ve written about what I consider to be one of the great scams of modern times… Amazon.com, which has been lauded and praised as one of the true innovators of “The New Economy.” With CEO, Jeff “He of the Perpetual Grin” Bezos even making Time’s “Man of the Year” cover a few years ago. Then tonight (Tuesday, July 25th) the shares are getting hammered because second-quarter profit fell by more than half, sending AMZN down sharply in after-hours trading, as the “online retailing pioneer” was hurt by the cost of employee stock options and higher operating expenses. That’s code for funding for Jeffo’s Texas Space Port and shipping stuff virtually for free. The original model… Books and video’s made sense. But as usual, greed and ego have taken over and now they have 33 different kinds of products/stores. Including recently introduced, groceries… Hello. Anyone remember WebVan and all the other clunkers that hit the wall ‘cos the cost of shipping a 25lb bag of dog food was more than its initial cost? I often wonder how some companies stay in business. Even worse, I have to laugh at the way their CEO’s are visionaries one day and charlatans the next!
Buy two and the bun is free. Buy three and we'll throw in the DVD of "Saw!"
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