Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Online Bookseller To Offer Stock

Amazon.com Inc., an online bookseller, has filed documents to sell about 10 percent of the company in an initial public offering. It hopes to raise as much as $33 million.

That would give the rapidily growing Seattle-based company a market value of about $300 million, despite a reported net loss of $5.8 million last year on sales of only $15.7 million. Amazon.com advertises an "inventory" of virtually all 1.5 million English-language books in print plus about 1 million out-of-print books, compared with about 200,000 titles at a typical superstore. But Amazon.com keeps no more than a few thousand books on hand, and orders titles as needed. Reuters Greenpeace Tries To Buy Oil Fields For Sanctuary As part of Britain's 17th oil licensing round in London, the environmental group Greenpeace Tuesday bid against leading oil companies for all 22,000 square miles of a major unexplored seabed site off the northern Scottish coast. Greenpeace said it hoped to block the multibillion dollar aspirations of the international oil industry and turn the site into a marine wildlife sanctuary. The organization also said it had met with British Petroleum to discuss concerns about the company's developments west of the Shetland islands. Reuters Princess And The Fee? Florida's attorney general Tuesday charged Princess Cruises Inc. with deceiving consumers by adding on "port charges" that aren't related to any government fee. The civil complaint against the cruise line owned by London-based Peninsular & Oriental Steam Navigation Co. seeks penalties of as much as $15,000 for each violation of Florida's Deceptive and Unfair Trade Practices Act. Six other cruise lines, including Carnival and Royal Caribbean, last month agreed to pay $295,500 and change their Florida advertising to settle state allegations that they misled consumers about cruise fares and charges. …

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