As noticed by GalleyCat, on Friday Standard & Poor's upgraded Amazon.com's rating to "investment grade" based on recent increases in earnings enjoyed by the online mega-retailer. This news is particularly interesting considering the recent economic woes of the major publishing houses and many booksellers, including big box stores and independent stores. If you're interested, GalleyCat has also been "tracking the stock performance of the major companies that influence the bookselling business" and has published some statistics.
Monday, February 16, 2009
Amazon.com = Investment Grade
As noticed by GalleyCat, on Friday Standard & Poor's upgraded Amazon.com's rating to "investment grade" based on recent increases in earnings enjoyed by the online mega-retailer. This news is particularly interesting considering the recent economic woes of the major publishing houses and many booksellers, including big box stores and independent stores. If you're interested, GalleyCat has also been "tracking the stock performance of the major companies that influence the bookselling business" and has published some statistics.
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2 comments:
This is one of those moments where I wished I understood economics and finances better. It's curious, though, that for all people's forecasting that the book industry would go down, Amazon is one of few major companies still easily afloat with good margins. Can one say "in your face, world"?
It's a fallacy to think of amazon in terms of being a bookseller only. It sells all manner of retail items. It is, however, realistic and accurate to recognize its role in destroying Main Street & local economies.
I detest amazon.
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