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Amazon won't profit from the last Harry Potter book »

Posted by: 2dot0 2 years, 6 months ago
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Amazon.com Inc. has taken more than a million pre-orders for the final "Harry Potter" book due out in July, but the world's largest Web retailer won't make a profit, Chief Executive Jeff Bezos told shareholders at the company's annual meeting Thursday. "We are very focused on the long term, but we also believe that the long term has

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Comments: 8
  • Avg rating: (+0/-0 0)Radiofreeeuropa
    Radiofreeeuropa
    June 15, 2007, 6:54 a.m.

    Fascinating. I always liked Bezos.

    • Avg rating: (+0/-0 0)2Labs
      2Labs
      June 15, 2007, 4:42 p.m.

      I think he does a huge disservice to the economy by offering books at a price below normal market price. While I undserstand that this is what business does and that consumers may benefit it also squeezes profit margins so that smaller retailers including those in rural areas can hardly earn a living.

      Walmart did the same thing with Big screen TVs. Putting a huge squeeze on electronics retailers.

      Instead of buying these products from retailers who can provide customer service you end up dealing with brain dead clerks at a big box retailer.

      This Sucks!

      • Avg rating: (+0/-0 0)CrazyRay
        CrazyRay
        June 15, 2007, 6:25 p.m.

        A smart businessman wouldn't cave in, a smart businessman would put his business above a simple fad, a smart businessman wouldn't bother selling the book...

        • Avg rating: (+0/-0 0)rhino1
          rhino1
          June 15, 2007, 7:23 p.m.

          A smart person in general wouldn't bother even patronizing such thing as "Harry Potter".

          • Avg rating: (+0/-0 0)MyCampingMall
            MyCampingMall
            June 15, 2007, 11:27 p.m.

            CEO's are hired to make profits. What gives this CEO the right to tell shareholders he will fail to fulfill his obligation?

            • Avg rating: (+0/-0 0)coolbeka
              coolbeka
              June 21, 2007, 11:32 a.m.

              =)I really dislike HP. This is good news!

              • Avg rating: (+0/-0 0)queenb727
                queenb727
                June 25, 2007, 3:01 p.m.

                I think all of these major companies are handeling this wrong. They are all (Borders, Barnes & Nobles, Amazon)heavily discounting HP for customer loyalty. Basically, catering to people who shop there anyway. Because really, since it's discounted at all stores, they aren't going to attract any new customers.

                They could all just charge full price. Their loyal customers (the ones they're targeting) would still shop at their store over the competition, but they'd make more money.

                I'm not getting their logic.

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