An einem gigantischen Short Squezze verdienen

Emptoris proceeds toward likely IPO  (Not rated)      12-Jan-07 02:32 am     And Internet Capital owns 5% of Emptoris.

Emptoris proceeds toward likely IPO
Biz software maker to add to Mass. head count
Boston Business Journal - January 5, 2007by Todd WallackJournal Staff


BURLINGTON -- Emptoris Inc., often mentioned as a potential IPO candidate, has continued to expand as a privately held company.

The Burlington business software maker, which has more than 400 employees, plans to add 100 more this year in various departments, largely in Massachusetts. By contrast, Emptoris had just 80 employees four years ago.


Sentiment : Strong Buy
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Re: Emptoris proceeds toward likely IPO  (Not rated)      12-Jan-07 10:19 am     I increase my estimate of revenues in 2006 from 110 to 130 million, because I had found this article:

"Software firm Emptoris completes acquisition of Mindflow Technologies
Boston Business Journal - July 20, 2006
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Contract and supply management software firm Emptoris Inc. announced Thursday it has completed its acquisition of Mindflow Technologies Inc.

Terms of the deal were not disclosed.


According to Emptoris, several key development and product management jobs will be moved from Mindflow's offices in Plano, Texas, to Emptoris headquarters in Burlington, Mass.

Emptoris has acquired five companies in the past three years, and the acquisition of Mindflow Technologies is its second acquisition this year. In April, Emportis acquired diCarta Inc., a contract management software firm in San Carlos, Calif.

Although Emptoris does not release in revenue figures, Forrester Research of Cambridge, Mass., estimated that Emtoris sales reached $101 million annually after it acquired diCarta Inc.

Emptoris customers include American Express, Bank of America, Boeing, Dow Corning, GlaxoSmithKline, Motorola, Owens Corning, Samsung America, and Toro."

In this article you can read: "Although Emptoris does not release in revenue figures, Forrester Research of Cambridge, Mass., estimated that Emtoris sales reached $101 million annually after it acquired diCarta Inc." After the aquring of diCarta Emptoris acquired additional Mindflow - but the addional revenues of mindflow are not part of 101 million, Forrester wrote.


Sentiment : Strong Buy

 

nach unten übertrieben - auch wenn bei seinen Zahlen noch eine extreme Unterbewertung herauskommt.

In seinen Auführungen ging Buckley davon aus, dass bei einem Kurs von $9,45 am 30.9. die Marktkapitalisierung unter Berücksichtigung möglicher Aktien aus der Wandelschuldverschreibung 398 Millionen betrug. Davon hat er dann 212 Millionen vorhandener Cash und Wertpapiere abgezogen und ist dann auf 186 Millionen gekommen.

Und nun kommt der erste Teil seines Seil-Tricks, mit der er auf eine 2,3-fache Bewertung der Umsätze kommt, die immer noch eine extreme Unterbewertung darstellt. Und zwar stellt er diesen 186 Millionen nur die anteiligen Umsätze von 8 Gesellschaften gegenüber - die anderen lässt er eiskalt weg, z.B. die von Creditex.

Bei diesen 8 Beteilgungen führt er 158,6 Millionen Umsatz an und einen gewichteten Beteiligungsanteil von 51%. Daraus lassen sich 81 Millionen errechnen, die den oben verbliebenen 186 Millionen gegenüber, eine Bewertung der anteiligen Umsätze mit dem Faktor 2,3 ergeben.

Hauptansatzpunkr für die Manipulation von Buckley is Creditex. Wir wissen inzwischen ganz exakt, dass die in 2006 einen Umsatz in Form von Provisionserlösen in Höhe von 135 Millionen hatten, was bei einem Anteil von 15% von Internet Capital ziemlich genau anteiligen Umsätzen von 20 Millionen entspricht. Schon allein daraus würde sich die anteiligen Umsätze von 81 auf 101 Millionen erhöhen. Besonders kriminell ist aber, wie Buckley Creditex "alternativ" berücksichtigt. Und zwar sind als Bestandteil der 212 Millionen Cash und Wertpapiere 4 Millionen enthalten, die den Buchwert von Credittrade ausmachen, die in Creditex aufgingen. Ich muss noch einmal betonen, ich habe derart kriminelles Vertuschen vorhandener Wert noch nie gesehen - und ich halte hier ein Eingreifen der SEC für erforderlich. Denn der schlimme Finger Buckley addiert hier ungeniert und dreist Cash, Börsenwerte und Buchwerte (letztere machen vielleicht 5% oder 10% der Börsenwerte aus). Um diese Manipulation praktizieren zu können, hat Buckley eigens Creditex von den Core Companies zu den Other Companies umgesetzt. Bei den Core Companies hätten sie die anteiligen Jahresumsätze um 20 Millionen erhöht - und das gleicht Buckley dadurch aus, indem für diese 20 Millionen Jahresumsätze bei der Cash/Beteiligungen einen Wert von 4 Millionen ansetzt, obwohl da einen Wert von 100 Millionen ist. Um es kurz zu machen - für so etwas gehört man schlicht und einfach in den Knast. Und das alles nur, weil er für seine Optioen ein paar Dollar weniger bezahlen muss.

Aber der Seiltrick von Buckley geht weiter, er vergisst ganz schlicht und einfach die Beteiligung von 5% an Emptoris. Emptoris hatte in 2006 ca. 130 Millonen Erlöse, was bei einem 5% Anteil 6,5 Millionen weiterer anteiliger Erlöse ausmacht. Eine kriminelle Nummer von Buckley ist, dass sich die 2.3 nur auf die 8 Kernbeteiligungen beziehen und er eine Berechnung anstellt und so tut, dass das die Umsätze wären. Das ist beinhart und eiskalt so kalkuliert, denn er wird sich bei der SEC herausreden können, dass er ja bei den 2,3 nur die Kernbeteiligungen gemeint habe. Krimineller geht es aber trotzdem nicht.

Die neu erworbene Channel Intelligence unterschlägt er logischerweise auch, immerhin 40% von 10 Millionen, die sie an Umsätze in 2006 hatten. Das sind weitere 4 Millionen anteiliger Umsätze. Nun könnte man argumentieren, dass sich durch den Verkauf von Channel Intelligence die Kasse vermindert habe und man daher die 4 Millionen nicht ansetzen könne. Das wird aber bei weiterm überkompensiert, da sich dies und auch der Einschuss von ca. 10 Millionen bei Creditex durch die Verkäufe mit Sicherheit mehr als ausgleichen: Man nämlich die 29% an Credit.com and Fidelity verscheuert und die 46% an Computerjobs an einen britischen Mitwettbewerber.

Auch Anthem Venture wurde nicht berücksicht, obwohl das in der Tat schwer ist. Ich gehe an dieser Stelle einmal von anteiligen Umsätzen von nur 5 Millionen aus, es können aber sehr viel mehr sein, da ich hiermit unterstelle, dass mehr als 20 Beteiligungen von Anthem Venture nur anteilige Umsätze von ca. 60 Millionen produzieren, was vermutlich viel zu niedrig ist - aber sei's drum.

Wie Ihr seht, hat Bückley 20 Millionen bei Creditex weggeschwindelt, 6,5 Millionen bei Emptoris, 4 Millionen bei Channel Intelligence und 5 Millionen bei Anthem Venture (die restlichen kleinen Companies wurden vernachlässigt) - in der Addition insgesamt 35,5 Millionen.

Das Resultat ist, dass wir in 2006 nicht anteilige Umsätze von 81 Millionen hatten, wie Buckley mit seiner Beschränkung (die er allerdings nennt) auf die acht Kernbeteiligungen verkündet, sondern 116,5 Millionen.

Und hinzu kommt: Die 116,5 Millionen waren Zahlen von 2006. Buckley spricht selbst von 30% Wachstum und da sind wir in der Nähe von 150 Millionen anteiligen Umsätzen in 2007, die bezogen auf die 186 Millionen gerade einmal eine Bewertung der anteiligen Umsätze mit dem Faktor 1,3 ergeben. Das ist extrem niedriger Wert, wenn man z.B. mit kleinen deutschen und auch US-Interklitschen vergleicht, für die Werte von 8 nicht selten sind, aber deren Aussichten nicht so gut sind, wie der Schnitt der anteiligen Umsätze der  Beteilgungen von Internet Capital.


 

denn Creditex ist auf dem Weg zum Gorilla auf dem boomenden Markt für Kreditderivate und donnert die Konkurrenz immer mehr an die Wand.  

Internet Capital hält an diesem Unternehmen, das 2006 135 Millionen umsetzte und schwarze Zahlen schreibt, 15%. Die Wachstumsrate beim Umsatz lag in 2005 und 2006 bei 50% und dürfte sich angesichts der neuen Entwicklungen eher noch beschleunigen, sodass man bei den Provisionserlösen in 2007 an den 200 Millionen kratzen könnte.

Q-WIXX was incubated and developed by Creditex Group Inc., the leading electronic and hybrid marketplace for credit
derivatives in the dealer community, and is being spun-off into a separate, independently managed entity. Internet Capital owns 15% of Creditex.


Q-WIXX LAUNCHES AUTOMATED EXECUTION SERVICES
FOR CREDIT DERIVATIVES

London & New York, December X, 2006 — Q-WIXX Inc., an electronic platform for trading large credit derivative
portfolios, announced its inaugural beta trade - a portfolio of USD $1bn and €500mm consisting of 131 North American
and European credit derivatives names. This milestone transaction took ten minutes to execute on the Q-WIXX
platform; in the past such a transaction would have required significantly more time. The shortened timeframe resulted
in greatly reduced market risk to the participants.
Q-WIXX is expected to be in beta mode until January 2007 at which time a formal global launch is planned. In an
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industry experiencing exponential growth and considerable regulatory focus, the platform represents much needed
certainty of execution, automation, operational benefits, as well as time and costs savings.
The inaugural beta trade on the Q-WIXX platform was done in conjunction with four major global credit derivatives
dealers: Goldman Sachs, JPMorgan, Deutsche Bank and Credit Suisse, along with Cairn Capital, one of the leading
credit hedge funds.
Q-WIXX was incubated and developed by Creditex Group Inc., the leading electronic and hybrid marketplace for credit
derivatives in the dealer community, and is being spun-off into a separate, independently managed entity.
Q-WIXX was specifically set up to assist hedge funds, correlation desks of dealers and buy-side market participants in
achieving execution and processing efficiencies when executing transactions known as Offers Wanted in Competition
(“OWICs”) or Bids Wanted in Competition (“BWICs”). These transactions are lists regularly containing over 100 credit
derivative names and notional amounts of more than USD $1bn or €1bn per list. Q-WIXX will provide processing
efficiencies by the provision of Straight Through Processing through T-Zero.
Duncan Needham of Cairn Capital said; “Q-WIXX allows us to enhance returns for our investors while reducing
operational risks. It is nothing short of an iPod for the credit markets. We have seen the future and it works.”
“We are pleased to have participated in the first Q-WIXX auction and to have been part of this major milestone for the
credit derivatives market,” said Simon Morris of Goldman Sachs. “We will continue to work collaboratively with QWIXX
to develop and enhance this platform to ensure it meets the needs of global hedge funds, correlation desks and
buy-side accounts.”
Guy America, Head of Credit trading at JPMorgan, said, “Q-WIXX provides our clients with a very efficient platform
that provides the assurance of execution and the necessary transparency.”
“Q-WIXX provides our clients with the ability to execute OWICs and BWICs on an electronic platform in a fair and
efficient manner” said Derek Smith of Deutsche Bank. “This is a necessary step in the right direction given the
explosive growth of the credit derivatives market and the significantly increased level of activity in OWICs and BWICs lists.

 

Beteiligungen von Anthem Venture durch. Anthem Venture ist ein Incubator wie Anthem Venture. Und Internet Capital halt 9% an Anthem Venure.

http://www.anthemvp.com/news.php  

The most criminal basher lie  (Not rated)      19-Jan-07 04:19 am     from basher like myfriedlyadvice is laughable, when they wrote that the sale of Linkshare was an one time event causing the large jump in earnings only in 2005. The incubator model of Internet Capital based on the buying of companies in earlier stages and sell them, when they more developed. In the years after 2000 incubator had great difficulties - but today incubator-models works very well.

It is a criminal lie of bashers like myfriendlyadvice to say, that the sale of Linkshare was an one time event. The pipeline of Internet Capital if full with IPO's and sells - and for example the gains by an IPO of ICGCommerce or Freeborders will be higher than by the sale of Linkshare. And the gains by an IPO or sell of Creditex or Starcite only a little bit less than by the sale of Linkshare. And next one is Metastorm.

But the price of Internet Capital doesn't reflect this full pipleline. The market-cap. of is no higher than the addition of the cash and the proceeds by an IPO or sale of ICGCommerce. Free of charge than companies like Freeborders and Starcite and Creditex and Metastorm and Marketron and Vcommerce and Emptoris and Anthem Venture and Whitefence and ChannelIntelligence and other.

 

P/E= 4, base: average net incomer 05-09  (Not rated)      2 minutes ago     The earnings of a quarter a non-events, but not the earning of longer periods. An incubator like Internet Capital will have losses in all periods without sells of companies or sells of shares from IPO's. But some idiots on this board take quarters without such sells as typical example for the earnings of Internet Capital. Take a look at 2005. In three quarters Internet Capital had small losses, but the net income in one quarter was so big, that in the year 2005 Internet Capital had a net income of 72.5 million. That is typical for the earnings of Internet Capital. It could be, that we have a year without greater sales like 2006, but we will have other year with more than one greater sales - maybe in 2007, when Freeborders and/or Starcite and/or ICGCcommere and/or Creditex and/or Metastrom were sold or make an IPO and shares of these IPO's were sold.

The most important question is: What is the average net income in every year in the period of 2005 - 2009? I believe, we will be higher than the 72.5 million of 2005. My estimate for the average net income of this period is 100 million or more every year.

On this base we have a P/E of 4 - that is a number, we never see once more by all Internet Stocks around the world.

 

heraus, denn der Wert von Creditex dürfte inzwischen bei einer Milliarde Dollar liegen. In 2006 hatten die 135 Millionen Umsatz und machten Gewinn. In 2005 und auch in 2006 lag das Umsatzwachstum jeweils bei über 50% pro Jahr. Und das wird in 2007 kaum anders sein, sodass man beim Umsatz (Provisionserlösen) bei 200 Millionen liegen dürfte, wobei der Gewinn sehr stark ansteigen dürfte, da die Kosten kaum gestiegen sind - denn nach dem Zusammenschluss von Creditex und Credittrade fallen nicht mehr Kosten für den Unterhalt von zwei elektronischen Plattformen an, sondern nur noch von einer. Und selbst bei nur einer betriebenen Plattform steigen die Kosten im Vergleich zu den Erlösen nur unterproportional.

Zwar hält Internet Capital "nur" 15%, aber die daraus resultierenden 150 Millionen sind für einen Wert mit einer Marktkapitalisierung von nur 400 Millionen eine schöne Stange Geld.

Re: Great new service from Creditex  (Not rated)      19-Jan-07 04:49 am    

Q-Wixx shrinks the world
By Saskia Scholtes and Gillian Tett

Published: December 12 2006 02:00 | Last updated: December 12 2006 02:00

Websites such as Expedia and Orbitz have transformed the world of shopping for airfares, hotels and car hire. By creating a centralised forum that links buyers and sellers, via a kind of auction, the process of navigating travel options has become more efficient.

Now, a similar concept is emerging in credit derivatives. Last week, the first pilot test was conducted of a platform that allows investment banks, hedge funds and other market participants to conduct near-instant auctions to obtain prices for every trade in a portfolio of credit derivative contracts.

The platform, known as Q-Wixx, is designed to circumvent the need for a series of conversations with dealers to obtain prices and then execute the trades - in much the same way that Expedia or Orbitz remove the need to call several travel agents before booking a holiday.

This switch is particularly important since investment banks are being flooded with deals involving large credit derivatives portfolios, where the dealers compete on prices for each individual trade in the portfolio.

According to banks, there are typically between six and 10 such portfolios hitting the market a day, with between 30 and 200 "names" (or companies on which CDS contracts need to be written.) Last week's test apparently went well with about $1.7bn of contracts "filled" with the first deal, all in under 10 minutes.

The auction involved four dealers: Goldman Sachs, JP Morgan, Credit Suisse and Deutsche Bank. Interdealer credit derivatives broker Creditex, which created Q-Wixx, plans to launch the system early next year.

Some bankers say that this could revolutionise the way that portfolios of credit derivatives are traded, adding an important new leg to the market's infrastructure. Indeed, if the scheme spreads widely - as some bankers think it might - the new platform could end up acting a little like a virtual exchange.

If so, that might reduce the possibility that the over-the-counter credit derivatives market would ever migrate on to a regulated exchange - a situation that the banks have a tremendous vested interest in avoiding.

"This is a huge step for the market," says the head of credit derivatives at one large bank. "If you had asked me 18 months ago whether there would be a need for credit futures on exchanges, I would have said yes. Now I am less sure."

Creditex, which created Q-Wixx, is trying to avoid making excessively grandiose claims for its platform, partly because it does not wish to antagonise interest groups.

The significance of the system lies in the fact that the platform essentially replaces a messy, bilateral system with a multilateral, live auction process.

That is useful for trading portfolios, which many investors now wish to do, either because they are creating collateralised debt obligations (bonds backed by portfolios of debt instruments), or because they are executing large-scale strategies. Until now, such orders have usually been filled via bilateral e-mails.


Sentiment : Strong Buy

 

Re: P/E= 4, base: average net incomer 05-09  (Not rated)      21-Jan-07 11:40 am     For example: If the BIG FIVE, that are ICGCommerce, Freeborders, Starcite, Creditex and Metastorm, would make IPO's (what not will happen all together), the 79% shares of ICGCommerce, the 33% shares of Freeborders, the 27% shares of Starcite, the 15% shares of Creditex and the 41% shares of Metastorm will have together an IPO-market-cap of about 700 million. The book value of this shares is less than 70 million. To produce a net income of 100 million in 2007, Internet Capital must only sell 110 million of this 700 million. And the best: At the end of the year the worth is back to 700 million.

And this will continue in the following years - and other companies, today in earlier stages, could ipo and the shares of BIG FIVE, who are not sold, increase - greatest chances by Freeborders, who could become the Infosys of china.


 

daher würde ich auf Teufel komm raus schon vor der Eröffnung in den USA einzusteigen versuchen:

Maybe, the Great Bang is near  (Not rated)      8 minutes ago     because look at this great surprise. After the first numbers, the insitutional holding increased from 67% t0 70% - all believes that we would see an decrease, Flankenking too.

But see now, the sensationell numbers:

Holdings Summary

ICGE
Internet Capital Group, Inc. NASDAQ-GM


Institutional Holdings Description | Hide Summary



Company Details
Total Shares Out Standing (millions): 39

Market Capitalization ($ millions): $404

Institutional Ownership: 70%

Price (as of 1/19/2007) 10.34


Ownership Analysis # Of Holders Shares
Total Shares Held: 91 27,360,265

New Positions: 6 409,430

Increased Positions: 37 4,086,620

Decreased Positions: 31 1,380,749

Holders With Activity: 68 5,467,369

Sold Out Positions: 7 106,207



Click on the column header links to resort ascending () or descending ().


Owner Name
Select a name below for more information. Date Shares Held Change
(Shares) % Change
(Shares) Value
($1000)
GENDELL JEFFREY L 9/30/2006 3,262,780 0 0.00% $33,737

CAPITAL RESEARCH & M... 9/30/2006 2,800,000 909,225 48.09% $28,952

DIMENSIONAL FUND ADV... 9/30/2006 2,620,155 453,678 20.94% $27,092

MELLON FINANCIAL COR... 9/30/2006 2,436,581 (11,456) (0.47%) $25,194

SCHNEIDER CAPITAL MA... 9/30/2006 1,699,592 30,500 1.83% $17,574



1 2 3 4 5 6 Next
Page 1 of 6


Institutional Ownership supplied by EDGAR Online, Inc. Copyright 2007, EDGAR Online, Inc. All rights reserved. Replication or redistribution expressly prohibited without the prior written consent of EDGAR Online, Inc. EDGAR Online, Inc. shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.


 

Super - dass da jetzt neben Libuda noch jemand das Management feuern möchte bzw. ihm Feuer unter den Hintern machen möchte:

EW YORK, Jan 22 (Reuters) - Mason Capital Management LLC, a $2 billion hedge fund manager, on Monday stepped up a dissident shareholder campaign at Internet Capital Group Inc. (ICGE.O: Quote, Profile , Research), the former high-flying Internet investment company.

Mason, which holds a 9.5 percent stake in Internet Capital, said it hired a proxy solicitation firm in what may be a move to run a slate of directors at the next annual shareholders meeting, according to a filing with the U.S. Securities and Exchange Commission.

New York-based Mason didn't name the proxy solicitation firm or further disclose its intentions for the company in the filing. A spokesman for Mason declined to comment.

Mason said the proxy firm was hired to consider "a proposal that may result in a change in the present board of directors or management" of Internet Capital, according to the filing. Activist hedge funds like Mason typically threaten to run slates of directors or take other measures in companies which they view as underperforming.


Reuters Pictures

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from the last 24 hours.
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Shares in Wayne, Pennsylvania-based Internet Capital hit a high of $212 a share in December 1999 on investor optimism about its business of investing in internet companies. However, the technology fallout in succeeding years hammered the stock, causing the company to slim down from around 80 companies to less than two dozen today.

Internet Capital shares closed at $10.26 on Nasdaq on Monday, down 8 cents

Was auch sehr wichtig ist, die Schutzengelfunktion des Management für Shorter und nackte Shorter ist weg, denn die Mason ist an steigenden Kursen schon jetzt interessiert und nicht erst in Jahren wie das Management, das zunächst noch billig einsacken möchte.
 
 

Highest shortselling we ever had seen  (Not rated)      25-Jan-07 07:39 am     January 2007
Short
Interest Percent
Change Average Daily
Share Volume Days to
Cover
ICGE Internet Capital Group, Inc. - Common Stock 3,639,584 10.55 375,012 9.71

And additional we must see, that 70% of the shares hold by institutionals.

And additonal exist a lot of not legal naked shortselling, which is not part of 3,639,584 shares.


Sentiment : Strong Buy

 

A story you must read, to understand, why Internet Capital is between $20 and $30 at the end of 2007:

2006: The Year of You and YouTube

M&A deals dominate 2006 as a hotter IPO market looms for 2007.
January 22, 2007

By Ken Schachter

In 2006, Time magazine’s person of the year was “You”—a nod to all those millions of Internet users who spent their time blogging, linking to social networks, and glued to the angst-filled video diary of lonelygirl15.

Google, for one, heeded the message, placing a $1.7-billion bet that the web can spin gold out of 10-minute videos. In a year marked by a lackluster domestic IPO market, the biggest deals were acquisitions like these —larger firms hoping to buy innovation.

The search giant’s acquisition of 18-month-old populist video site YouTube was the mother of all venture-backed exits in 2006. That acquisition dwarfed the No. 2 VC-backed merger, Qualcomm’s pickup of Flarion, a developer of next-generation wireless technology, by a cool $1 billion. And then there were the mega fundings. The $900-million funding by the venture capital arms of Intel and Motorola in July of Craig McCaw’s WiMAX startup, Clearwire, was six times as large as the second-place funding round, a $150-million infusion to Amp’d Mobile.

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The year also was marked by financial convergence as private equity and hedge fund financiers muscled into traditional VC territory.

The IPO window opened a crack. Vonage got a lukewarm welcome, but the $531.3 million that IPO raised was far larger than the second- and third-largest offerings on Red Herring’s list—data management firm CommVault ($161.1 million) and video compression software maker DivX ($119.4 million).

The paucity of IPOs in the United States left VCs in a pensive mood. “The big question people have on their mind is: ‘Is the IPO market dead’?” says Mark Jensen, partner and national director of venture capital services for Deloitte & Touche.

At the same time, foreign markets became attractive exit points, with Chinese and British IPOs in all sectors raising more than those in the traditionally dominant U.S. markets—where regulations like Sarbanes-Oxley are making it harder for small companies to go public. That trend is likely to continue, with 57 percent of VCs polled by the National Venture Capital Association predicting more momentum toward taking companies public overseas.

Then there were the serial acquirers like Microsoft, IBM and Oracle, who chalked up 19, 16, and 13 acquisitions, respectively, through December 8, according to the 451 Group.

Facing an unforgiving market, VCs are forced to give their portfolio companies more time to mature before testing the IPO waters. “With $50 million to $70 million in revenue in the past, you could go public,” Mr. Jensen says. “Going forward, it will take $100 million to $200 million.”

Speculation is already swirling about this year’s big deals. Paul Kedrosky, a venture capitalist at Ventures West, says the most likely “market-changing deal” of 2007 will be the acquisition of Yahoo. Though private equity has been kicking Yahoo’s tires, Mr. Kedrosky sees Microsoft as the most likely suitor. “Microsoft is losing [search] share at an alarming rate,” he says. “Once they get past [the launch of] Vista, there will be huge street pressure to fix this problem.”

In 2007, IPOs also may bubble. The crop of 2003—the first to reach typical IPO maturity since the Internet meltdown—is coming of age. In the second half, “we’ll see an active IPO market,” Mr. Jensen says.


 

Manchmal hilft es, relevante Charts in der Dollarnotierung zu betrachten.  

!  

Re: A story you must read, to understand  (Not rated)      25-Jan-07 01:05 pm     Most important sentence of the article: "Facing an unforgiving market, VCs are forced to give their portfolio companies more time to mature before testing the IPO waters. “With $50 million to $70 million in revenue in the past, you could go public,” Mr. Jensen says. “Going forward, it will take $100 million to $200 million.”

I believe, Internet Capital had worked in this direction:

First it gives his portfolio companies more time and therefore they make no ipo in 2006. You remember the sale of Linkshare in 2005 was to cheap - today the price were double or more.

Second it produce through three merger greater companies (Creditex and Credittrade to the new Creditex, Starcite and Onvantage to the new Starcite and Metastorm and Commercequest to the new Metastorm).

As the result, Internet Capital has a pipeline of six IPO with market-caps between 200 million and a billion.


Sentiment : Strong Buy

 

nicht sehr viel weniger wert als die Marktkapitalisierung.

Bedeutsame Entwicklung für eine der wichtigsten Beteiligungen von Internet Capital: ICGCommerce. Internet Capital hält an dem weltweit führenden Outsourcer im Bereich der der Beschaffung von indirekten Güter (also solche, die nicht in Produkte eingehen) 79%.

Organizations Require End-to-End Procurement Outsourcing Services, Says NelsonHall


NelsonHall - January 16, 2007

A comprehensive assessment of the global indirect procurement outsourcing business reveals issues and attitudes towards how these issues need to be addressed. According to Rachael Stormonth, a research director at NelsonHall who conducted the study, "Organizations believe that they have negotiated favorable discounts from suppliers, but dissatisfaction with the overall cost-effectiveness of their indirect procurement services persists."
 


Stormonth explained that the level of centralization of indirect procurement remains low, and organizations continue to lack visibility of spend across their enterprise. The NelsonHall analysts support the emphasis on improved supplier management, but caution organizations on placing too low a priority on supporting internal compliance objectives.

Indirect procurement issues

The major indirect procurement challenges for organizations revealed in the NelsonHall research report are as follows:

A strong corporate requirement to reduce the cost of indirect goods and services
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Difficulties in managing large numbers of suppliers in the absence of adequate breadth of internal category management expertise
Difficulties in managing large numbers of suppliers in the absence of common indirect procurement systems, processes, and interfaces
Lack of indirect spend visibility

Accordingly, the first issue to be addressed in the majority of organizations is improved management of suppliers. Typically, organizations aim to improve their ability to reduce the cost of goods and services and the cost of procurement, to accelerate sourcing cycle times, and to improve vendor management. They expect to achieve improved vendor management through better spend visibility as well as through enhanced abilities to manage supplier performance through a single interface.

In line with this requirement, NelsonHall's research supports the conclusion that organizations need to implement "best-practice" indirect procurement processes and systems as part of an indirect procurement outsourcing contract.

"The majority of organizations would like access to external expertise and procurement best practice," said Stormonth. "Moreover, the majority of organizations would be prepared to transfer responsibility for implementing, enhancing, and supporting the associated indirect procurement applications," she added.

Internal compliance

Internal compliance is not seen as an immediate priority. Only once the objective of improved supplier management has been achieved will organizations consider themselves ready to address internal compliance. However, NelsonHall believes internal compliance needs to be addressed more rapidly, and that to achieve maximum benefit organizations should address both supplier management and compliance and internal compliance simultaneously rather than separately.

In many organizations indirect procurement has been a low priority compared to direct procurement, receiving lower access to investment and specialist personnel. As a result, some organizations are now outsourcing indirect procurement services to improve the management of these increasingly important processes.

"Organizations want an improved process compared to their in-house capability. To achieve this goal vendors need to offer end-to-end process improvement across both sourcing and category management and purchase-to-pay processes. According to NelsonHall, outsourcing one of these processes in isolation is unlikely to deliver both the vendor management and the internal compliance required for an optimum solution," concluded Stormonth.

About the market research report

The NelsonHall global study, "Indirect Procurement Outsourcing: Customer Requirements", is based on user interviews with over 300 major organizations across a wide range of industry sectors. The report was written specifically for market managers developing strategies to target segments of the indirect procurement outsourcing market and executives researching business issues and vendor capabilities before making purchasing decisions. The report is part of NelsonHall's Procurement Sourcing program.


» Story on Analyst Firm Website


 

Re: Very important for ICGCommerce  

Exact number about ICGCommerce and his only competitors:

BPO Market Report – 20 February 2006

Indeed, research carried out by Everest Partners reveals that ICG has won 26% of the contracts
signed in the procurement outsourcing space to date, more than any other vendor. ICG leads
IBM, which has secured 24% of deals, Accenture (16%) and Ariba (15%).


Sentiment : Strong Buy

 

Manipulation in Frankfurt halten an und der Skontrenführer leistet Beihilfe und die Handelsüberwachungsstelle des Bafin an der Frankfurter Börse schläft.

Nachdem zunächst eine größere Menge zum realistischen Kurs von 8,48 abgewickelt wurden, setzten dann die Bescheisserspielchen mit Aufträgen über zwei oder drei Stück ein, um den Kurs auf ein niedriges Niveau zu bringen.

Zu diesen Preisen wird aber niemals ein Auftrag abgewickelt, der auch nur größer als 50 Stück ist. Potenzielle Käufer werden durch diese in meinen Augen kriminelle Kursfestsezung des Frankfurter Skontrenführer in die Irre geführt (Kursmanipulation im Sinne des Wertpapierhandelsgesetzes) und setzen zu niedrige Limite an, mit denen sie dann nicht zum Zuge gekommen. Dass die Handelsüberwachungsstelle des Bafin dagegen nichts unternimmt, obwohl diese Bescheisserspielchen schon monatelang laufen, in meinen Augen ein schlimmer Fall einer eklatanten Rechtsbeugung.

Die Manipulateure, denen wegen ihrer Leerverkäufe das Wasser bis zum Hals steht, haben damit gleich zwei Fliegen mit einer Klappe gefangen.

Erstens, haben sie den Handel in Deutschland lahmgelegt.

Zweitens versuchen sie damit dem in Kürze eröffenenden US-Handel ein niedriges Kursniveaus zu suggerieren - das auf der Basis von Geschäften über zwei oder drei Stück basiert
 

If shortselling-speculation get out of control  (Not rated)      28-Jan-07 05:29 am     An important reason, why paid basher with lies on a lot message-boards in action in the last days, are the increasing ownership of institituitionals from only less than 3% in 2004 to more than 70% after the first numbers from 12/31/2006. On 00/30/2006 whe had only 67%.

ICGE
Internet Capital Group, Inc. NASDAQ-GM


Institutional Holdings Description | Hide Summary



Company Details
Total Shares Out Standing (millions): 39

Market Capitalization ($ millions): $434

Institutional Ownership: 70.2%

Price (as of 1/26/2007) 11.11


Ownership Analysis # Of Holders Shares
Total Shares Held: 92 27,437,465

New Positions: 7 449,430

Increased Positions: 38 4,163,528

Decreased Positions: 30 1,374,649

Holders With Activity: 68 5,538,177

Sold Out Positions: 7 106,207



Click on the column header links to resort ascending () or descending ().


Owner Name
Select a name below for more information. Date Shares Held Change
(Shares) % Change
(Shares) Value
($1000)
GENDELL JEFFREY L 9/30/2006 3,262,780 0 0.00% $36,249

CAPITAL RESEARCH & M... 9/30/2006 2,800,000 909,225 48.09% $31,108

DIMENSIONAL FUND ADV... 9/30/2006 2,620,155 453,678 20.94% $29,110

MELLON FINANCIAL COR... 9/30/2006 2,436,581 (11,456) (0.47%) $27,070

SCHNEIDER CAPITAL MA... 9/30/2006 1,699,592 30,500 1.83% $18,882



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In a mail, I was asked, if the percentage of the instiutionals can growth about 100%. I believe, this question was a joke, but I must answer, that this is possible, when shortsellers sell lended shares or naked shorters sell shares without lending. And I believe, we are on the way to such a constellation, the Nasdaq had never seen. We can only compare this idiotic speculation with the trial to corner the silver-market 30 years ago through the Hunt-Brothers. Some of you remember, what happened - the price of silver felt like a stone. By Internet Capital we will see the opposite, when the shortselling-bubble burst - we will see a jump near $20, when the shortselling-speculation get out of control. For example, the SEC must only look to not legal naked shorting and the bubble will burst.


Sentiment : Strong Buy

 

dem letzten Posting. Man sehr schon sehen, dass neben dem Mason-Fund, der in den Zahlen noch nicht berücksichtigt ist, ein weiterer Hedge stark zugeschlagen hat, nämlich der an 8. Stelle stehende Emererald Advisers, der im 4. Quartal mit 960,891 nahezu 3% der ausstehenden Aktien zusätzlich gekauft hat. Damit positionieren sich immer mehr Hedge-Funds auf der Gegenseite zu den Leerverkäufern - denn es ist ja relativ leicht zu erkennen, dass da ein großer oder mehrere größere Leerverkäufer in der Falle sitzen und nur über sehr stark steigende Kurse eindecken können, was sie eines Tages nun einmal müssen.

Größter deutscher Eigner (erheblich vor Libuda mit seinen "nur" 16,500 Stück) scheint die Deutsche Bank zu sein, die an Platz 19 bei den Institutionals steht, ca. 1% der ausstehenden Aktien hätl und im dritten Quartal ihren Bestand noch einmal um 71,35% aufgestock hatte:

DEUTSCHE BANK AG\ 9/30/2006 380,754 158,544 71.35% $4,230


Re: If shortselling-speculation get out of control  (Not rated)      28-Jan-07 06:01 am     After the five greatest owners in my last posting, yon can see here the numbers 6 to 25. Most important reason for the last increase from 67% in september to 70% in december was the buy of additional 960,891 shares through EMERALD ADVISERS INC.


Click on the column header links to resort ascending () or descending ().

Owner Name
Select a name below for more information. Date Shares Held Change
(Shares) % Change
(Shares) Value
($1000)
BARCLAYS GLOBAL INVE... 9/30/2006 1,466,576 (65,799) (4.29%) $16,294

ARIENCE CAPITAL MANA... 9/30/2006 1,134,317 43,300 3.97% $12,602

EMERALD ADVISERS INC... 12/31/2006 1,066,391 960,891 910.80% $11,848

COLUMBIA PARTNERS L ... 9/30/2006 1,039,528 (13,970) (1.33%) $11,549

NORTH POINTE CAPITAL... 9/30/2006 750,193 75,213 11.14% $8,335

EAGLE ASSET MANAGEME... 9/30/2006 746,875 (13,605) (1.79%) $8,298

STATE STREET CORP 9/30/2006 605,793 73,551 13.82% $6,730

TUDOR INVESTMENT COR... 9/30/2006 596,388 0 0.00% $6,626

TRIVIUM CAPITAL MANA... 9/30/2006 501,200 (345,300) (40.79%) $5,568

VANGUARD GROUP INC 9/30/2006 484,302 13,300 2.82% $5,381

PEQUOT CAPITAL MANAG... 9/30/2006 471,000 325,900 224.60% $5,233

MORGAN STANLEY 9/30/2006 431,537 255,376 144.97% $4,794

TCW GROUP INC 9/30/2006 395,356 (18,144) (4.39%) $4,392

DEUTSCHE BANK AG\ 9/30/2006 380,754 158,544 71.35% $4,230

ENGEMANN ASSET MANAG... 9/30/2006 305,587 305,587 New $3,395

NORTHERN TRUST CORP 9/30/2006 282,927 2,280 0.81% $3,143

HOCKY MANAGEMENT CO ... 9/30/2006 282,600 0 0.00% $3,140

BRUCE & CO., INC. 9/30/2006 278,300 0 0.00% $3,092

TIAA CREF INVESTMENT... 9/30/2006 260,447 6,190 2.43% $2,894

POTOMAC CAPITAL MANA... 9/30/2006 233,944 (1,856) (0.79%) $2,599


Sentiment : Strong Buy

 

News from Freeborders, Internet Capital owns 33% of Freeborders.

ITC selects Freeborders PLM
24 January 2007| Source: Ptex Solutions

Ptex Solutions announced that ITC Limited, one of India’s largest conglomerate has selected Freeborders Product Lifecycle Management (PLM) solution to streamline all apparel product development activities, from concept to delivery.

ITC is one of India's foremost private sector companies with a market capitalisation of over US $ 13 billion and a turnover of US $ 3.5 billion. Rated among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most Reputable Companies by Forbes magazine, among India's Most Respected Companies by BusinessWorld and among India's Most Valuable Companies by Business Today, ITC ranks third in pre-tax profit among India's private sector corporations.

ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology, Branded Apparel, Greeting Cards, Safety Matches and other FMCG products. While ITC is an outstanding market leader in its traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports, it is rapidly gaining market share even in its nascent businesses of Packaged Foods & Confectionery, Branded Apparel and Greeting Cards.

Freeborders PLM solution will be used by ITC’s Lifestyle Retail Business Division (LRBD). This division was formed in 2000. Within 6 years it has established a pre-eminent presence in the booming Indian retail market through its brands Wills Lifestyle and John Players and has very aggressive growth plans ahead.

At ITC, Designers, Merchandisers, Garment Engineers and selected vendors will use the system for collaborative product development. Currently ITC is using a combination of Microsoft Excel, Emails and other design applications to manage product development, track changes and manage critical path.

“ITC is the first Indian apparel company to adopt an enterprise PLM solution. We are delighted that they selected Freeborders after evaluating several technology companies. Freeborders PLM will certainly give ITC competitive advantage over other Indian retailers by improving time to market.” Prasham Kamdar, Managing Director of Ptex Solutions, the exclusive agent of Freeborders in India, Sri Lanka, Bangladesh and Mauritius.

Web-based PLM delivers brand and product strategies, disciplined product development processes, efficient material development, effectively collaborates with vendors throughout the design and procurement process and develops products that exactly match desired specifications at an accelerated pace. Prasham Kamdar adds “PLM will help to make ITC LRBD’s product development process more efficient and will help to reduce lead time and product development cost.” Early adaptors are achieving significant lead-time reductions of up to 20% across the entire design and procurement process.

"We were able to fulfill a critical need for ITC," said Debbie Baldini, Managing Director, Global Retail Practice, Freeborders. "Freeborders comprehensive PLM solution will improve the visibility and data accuracy needed to accelerate ITC’s products to market. We have one of the largest development teams in the world dedicated to apparel product lifecycle management.”

Freeborders is the worldwide leader in Product Lifecycle Management solutions for the global apparel and textile industry. Freeborders has provided PLM to leading American and European retailers, brands and manufacturers including Courtaulds (previously Sara Lee Courtaulds), The Peacock Group, J Jill, J Crew, Christopher & Bank, Woolrich, TAG and many more.


Sentiment : Strong Buy
Rate it:
     
 

Unsinn ist allerdings die dort genannte Zahl von 500 Beschäftigten in China, denn das waren schon im Früjahr 2006 ca. 600.

Outsourcing in China goes high tech
POSTED: 12:32 a.m. EST, January 25, 2007
By Kevin Voigt
For CNN
Adjust font size:
(CNN) -- When company executives think of IT outsourcing, places such as India's Bangalore often come to mind. But that may soon change -- more and more companies are turning to China as not just a cheap source of low-end manufacturing labor but to harness high-tech intellectual might.

One of the companies leading the way is Freeborders, a 7-year-old company that creates customized software for Fortune 500 companies around the world. Headquartered in San Francisco, the bulk of Freeborders' staff of 500 programmers is based in Shenzhen, China, across the border from Hong Kong.

"We think the future of (outsourced) programming is in China," says Freeborders CEO John Cestar. Certainly, it's a fast growing field in China -- the country's outsourcing market is growing by 36 percent a year and is expected to be a near $4 billion-a-year business by 2009, according to Analysys International. This year, the company -- which creates custom software to handle billing, finance and other back-office applications -- plans to quadruple its work force in China to 2,000 employees.

In July the company received an Outsourcing Excellence Award from Forbes Magazine for creating a trading platform, fastextile.com, which links textile mills directly to garment manufacturers worldwide. The company was named one of the world's 50 best managed vendors by "The Black Book of Outsourcing."

CNN spoke with Cestar about the rising profile of China's programming might.

CNN: Why did your company choose China over India for its pool of programmers?

Cestar: About eight years ago, everyone caught on about programming in India and there has frankly been very little interest in other country possibilities. What India has pioneered is a software factory model -- sort of a "price per pound" approach; we can do "X" amount of programming for you at $10 an hour. Really, it makes IT workers very much like assembly line workers in the apparel industry. They are not asked to be creative.

In China, when I first went there 15 years ago to set up operations for another company, I was hugely impressed by how creatively the programmers thought ... they were able to bring a lot of problem-solving skills to the table. It just seems an obvious reservoir to tap for the global market, especially for research and development.

Also, China has much better infrastructure than India ... many companies there have to build their own power plants on site because the local power supply is so dicey; that's not an issue here. And the domestic market for programming has much larger potential than India.

CNN: But don't you have a problem with English language ability in China compared to India?

Cestar: That's more a perceived problem than an actual problem. According to NeoIT (an IT analysis firm) there are 5 million who graduate from university in China every year, and a million of them are studying computer science. Of those, at least a third have strong English language skills; of those, about half are conversationally fluent.

It's really more of a (human resources) problem -- you have to give incentives to your staff to constantly improve their English; they know that if they want to succeed in the company to a managerial position, they'll have to have strong English skills. We have four English professors on staff for training.

CNN: When people think "China" and "software," they often think of "piracy." How do you combat that?

Cestar: Clients sometimes ask me, "(Is) the Chinese government going to have a backdoor into your facility?" In Shenzhen, we bring in standards for security which have been approved by international (industrial verification accreditation). When you walk in, the facility is just like anywhere in the Silicon Valley.

To be honest, handling all the compensation information for 8,000 employees of a bank isn't something that you can peddle on the streets of Shenzhen. In fact, clients often say, "Better you than us" to handle this, because the real problems are if the information is leaked within the company -- this information wouldn't mean anything to you unless you were an employee.

The biggest issue is making sure we have internal isolation and controls in place so competitive information can't reach a competitor ... something they can divine by the nature of project the client has hired us to do. We have internal walls in place between clients who are also competitors.

CNN: What's the biggest challenge for working with programmers in China?

Cestar: We need to work with our employees in China to understand billing and HR systems, to learn how a financial services company issues a receipt or a bill. You have to incorporate a constant learning environment, so they understand the needs of a company in Chicago putting out payroll.

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den Kursanstieg mitmachen konnte ist leicht erklärt - die Kurse, die der unfähige Skontrenführer festlegte, entsprachen fast nie der Marktlage und führten dazu, dass die deutschen Anleger zu niedrige Limite setzten, mit denen sie nicht zum Zuge kamen.

Ich kann nur allen Anlegern raten, sich über diesen unfähgien Skontrenführer massiv zu beschweren und zu fordern, dass ihm seine Funktion entzogen wird. Denn schlechter kann man diese Funktion nach meiner Auffassung gar nicht mehr ausüben.  

Der Anteil der Institutionals ist auf 72,2%   Libuda   31.01.07 13:46  

gestiegen - nach 67% zum 30.9. Im Jahr 2004 waren es auf dem Tiefpunkt nur 2% bis 3%.

Insitutionals from 67% to 72.2%  (Not rated)      17 minutes ago     Strong additional growth by institutionals. After the first numbers of the fourth quartal of 2007 the percentage growth from 67% to 70% and after additional numbers to now 72.2%.

Holdings Summary

ICGE
Internet Capital Group, Inc. NASDAQ-GM


Institutional Holdings Description | Hide Summary



Company Details
Total Shares Out Standing (millions): 39

Market Capitalization ($ millions): $444

Institutional Ownership: 72.2%

Price (as of 1/30/2007) 11.37


Ownership Analysis # Of Holders Shares
Total Shares Held: 94 28,190,085

New Positions: 9 703,801

Increased Positions: 40 4,457,970

Decreased Positions: 30 1,374,649

Holders With Activity: 70 5,832,619

Sold Out Positions: 7 106,207



Click on the column header links to resort ascending () or descending ().


Owner Name
Select a name below for more information. Date Shares Held Change
(Shares) % Change
(Shares) Value
($1000)
GENDELL JEFFREY L 9/30/2006 3,262,780 0 0.00% $37,098

DIMENSIONAL FUND ADV... 12/31/2006 3,112,704 492,549 18.80% $35,391

CAPITAL RESEARCH & M... 9/30/2006 2,800,000 909,225 48.09% $31,836

MELLON FINANCIAL COR... 9/30/2006 2,436,581 (11,456) (0.47%) $27,704

SCHNEIDER CAPITAL MA... 9/30/2006 1,699,592 30,500 1.83% $19,324



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