Posted on 01/01/2015 7:05:39 AM PST by Red in Blue PA
Amazon.com AMZN 0.00% turned in its worst year on the market since 2008, taking a big bite out of founder Jeff Bezos’ personal net worth.
Chief Executive Bezos saw his Amazon holdings lose about $7.4 billion in value over the course of the year as the e-commerce giant’s shares fell more than 22%. Still, Bezos’ 84 million shares, equal to 18.3% of the company, will ring in the New Year with a value of roughly $26.1 billion.
Shareholders punished Amazon for its free spending on projects such as the Fire smartphone and other gadgets and a widening network of warehouses close to urban centers. The company has admitted it botched the phone’s rollout, mainly blaming its price for slow sales.
(Excerpt) Read more at blogs.wsj.com ...
How could they lose seven billion dollars... With all the business I give them?
How much did Jeff lose? Um, nuttin’.
Bezos will win with Fire TV ans Amazon Prime.
Dish, Cox, Time Warner can suck it.
1. The phone--though based on Android--couldn't access the Google Play store.
2. The phone was only available on the AT&T GSM/LTE network.
This is in contrast to most Android phones, which were available on all the major cellphone carriers and had access to the Google Play store.
Well, no company can make annual record profits forever. Amazon’s stockholders should just be thankful for all the profits Bezos has returned to them over the years. /sarc
I’m doing my best to prop them up too. Full disclosure- this was posted from a kindle.
CC
They’re selling “unlocked” fire phones now.
CC
I’m in a similar boat. I have Prime and I use it liberally. My first go-to place is Amazon when I need something. I have absolutely no bad experiences with them.
Bezos also bought the money-losing, Democrat-loving, liberal Washington Post. In word and deed, the publication will do its best to contribute to more Bezos losses.
Amazon didn’t lose 7b, Bezo’s stock value lost that much. Amazon could be a buy if it corrects its issues.
What are its issues?
Amazon is simply THE BEST online marketer in the world.
But who’s going to buy an Android-based phone that has no access to the Google Play store?
ME too. I do most of my online shopping there. As I can’t get out well because of health issues. Malls don’t provide electric carts. And that is how I do my grocery shopping. I can’t walk the grocery store any more.
For merchants, Amazon sucks big hairy donkey d***s.
Amazon allows “buyers” to fraudulently claim they never received a product and Amazon ships another one to them. There are countless professional thieves who do nothing but this. Some merchants lose 1/3rd or more of their products to Amazon not controlling such theft.
Certainly not me.
CC
Of course, I ended up talking to some stupid as rainwater woman from India who couldn't speakee English, who told me my only option was to buy an Amazon gift card.
I told her my next option--buy it someplace else and hung up.
Went to Bed, Bath & Beyond, used my coupon and two cards, got a better price and the wife is happy. I doubt that Amazon will continue to be my first look option for hard goods in the future.
Did he vote for 0 and donate to him too? I guess there are universal laws at work here...
In other words he lost $7 billion that never existed except in accounting. I’m sure he’s devastated. /sarc
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