Re: frontiers of capitalism

[Doug Henwood]

Michael Perelman wrote:

>Amazon announced that it lost $185 million on sales of $676 million last
>year.  The stock went up.  Isn't America great?

To be fair, it also announced that its book business was profitable 
for the first time, and that it expected future losses to narrow, 
also for the first time. I'm the first to concede that the dot.com 
boom has been nuts, but this specific instance was somewhat less nuts 
than usual.

Doug