Alibaba opens--not 'sesame', but Nasdaq--today. Foiling, at last, the machinations of FDR and Harry Truman's favorite economists (White, Frank Coe, Sol Adler, Lauchlin Currie et al.) who managed to
turn China over to Mao Tse Tung. We hope the Communists are revolving uncomfortably in their graves--after tens of millions of Chinese paid with their lives, for their enthusiasms--to find, as the WSJ says, that one Chinese company may be worth more than Amazon.com, and is in the world's top 40;
Alibaba Group Holding
Ltd.
's shares priced Thursday at $68 apiece, putting the Chinese
company on track for an initial public offering that will raise at least
$21.8 billion.
The price was at the top of the company's expected range of $66 to $68, which was increased from an initial $60 to $66.
The
price gives the e-commerce company an initial market value of $168
billion, making it one of the 40 biggest public companies globally....
Because the company can deliver prosperity to the masses (unlike Mao and friends);
Alibaba's founder and executive chairman,
Jack Ma,
Alibaba's top managers and their bankers have pitched the company
over the past two weeks as an opportunity to invest in the growth of
China's middle class, as more Chinese buy goods and services via the
Internet and mobile phones, and to enjoy the profits generated by the
company's "platform" model. The company connects buyers and sellers
without the cost of holding inventory on its own.
Marx and Engels could not be reached for comment.
No comments:
Post a Comment