1. What's Job One for Mary Meeker?Once upon a time, we thought the prime responsibility for a stock analyst was, well, to be a stock analyst. How could we have been so stupid? We were reminded of our naivete once again this week, when the Securities and Exchange Commission announced its global settlement with Wall Street's Ten Most Wanted brokerages. Actually, it wasn't the settlement itself that we found most enlightening. Rather, it was evidence gathered from one particular participant in the drama: Mary Meeker, Morgan Stanley's ( MWD) famed Internet analyst. You remember Meeker, of course. The Queen of the Net. The subject of that huge Barron's profile in December 1998. The subject of that laudatory piece in The New Yorker in 1999, back when people wrote laudatory pieces about stock analysts. She's the highest-profile New Economy analyst not to get sent through the wringer that's wrung Henry Blodget and Jack Grubman right out of the securities business. But lest you think Ms. Meeker is above reproach, you'd best read two fascinating documents that surfaced this week.
|Meek and You Shall Find |
2. Raiders of the Lost ArchiveIf listening to a company's conference call is good for the retail investor, listening to a replay of the same call would be good, too, wouldn't it? Well, maybe not, according to somebody at USA Interactive ( USAI). We discovered this odd conclusion prior to USA's Thursday conference call with analysts covering the company's financial results for the first quarter. See, in a press release announcing the call, USA -- which is in the process of buying in its majority-owned subsidiaries Expedia ( EXPE) and Hotels.com ( ROOM) -- made this disclosure:
- The live audiocast is open to the public at www.usainteractive.com/investor_relations. Replays of the conference will not be available due to securities laws restrictions as a result of recent merger announcements by the companies.
|Diller's Time |
3. If Only We All Enjoyed Their Outstanding Financial ReturnThe competition was tough at this year's Storage Networking World Spring 2003 convention, we learned from a press release this week. But a winner of the "Best Practices in Storage" award was none other than Conseco Finance Corporation, which won for "the outstanding financial return the company achieved by implementing DataCore's SANsymphony(TM) storage management platform." Very cool. Especially because Conseco -- which
4. Putting the Carty Before the HoarseIt's not exactly charitable to kick the mighty once they're down. But it occasionally has fringe benefits. We decided that this week after we learned, via media news chronicler