Hard Light Productions Forums
Off-Topic Discussion => General Discussion => Topic started by: Scooby_Doo on September 29, 2009, 05:27:08 pm
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Newegg is to go public.
http://www.reuters.com/article/marketsNews/idUSN288093020090928 (http://www.reuters.com/article/marketsNews/idUSN288093020090928)
Say goodbye to low prices and customer service :sigh:
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Oh, bugger. :(
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Hellfire and damnation.
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Do not want! :(
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****
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:mad:
I just hope Newegg retains some of qualities that made it website worth buying from....
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One of the few companies I ever had a problem dealing with. Ordered memory from one of their adds (got the part number from Kingston and copy/pasted it to pricgrabber) , memory on the confirm page wasn't the one in the listing and was only off by 1 digit so I didn't' catch it. They wouldn't take it back even when I produced a copy of pricegrabber with their listing still up with the link to the wrong part.
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this will either go pretty okay, or...
REALLY ****ING BAD
whouldn't assume one way ot the other to soon, though. see how it plays out..
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I'm...not seeing how this is automatically a terrible thing. So they're selling stocks. Does that somehow equate to suddenly-reduced quality because of some nebulous reason or another?
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It means they are getting shareholders. Shareholders who expect a return on their investment. And who will break out the lawyers if they don't get it.
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Still doesn't mean it's going to be bad. It could mean it'll be better, since they're have more funds to improve service with.
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Still doesn't mean it's going to be bad. It could mean it'll be better, since they're have more funds to improve service with.
I think the issue is one of probability. NewEgg is currently considered one of the best sources of components out there. Of all the possible changes in quality it could undergo, most are negative. Thus, change = bad in this case.
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GREED
Edit: Maybe I should qualify this. I don't have any problem with people's rights to make frak-tons of money. It is just my concern that we the consumers will suffer for the sake of profit.
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It means they are getting shareholders. Shareholders who expect a return on their investment. And who will break out the lawyers if they don't get it.
They already have shareholders. Tons and tons and tons of shareholders. What they're getting are stockholders. So long as NewEgg continues to perform, the new stockholders shouldn't have a single problem with how the company's being run. That, and Newegg's probably looking to get some additional capital to expand beyond the USA, Canada, and China. The money raised could be going towards opening a Newegg-Europe or Newegg-Australia.
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This will end badly.
In almost every case I've seen, when a company's gone public, quality takes a nose-dive. It generally sucks for everyone, customers and employees alike. The only jackanapes that come out ahead are the stockholders. A friend of mine is part of a small company that went public, suffered quite a bit at the hands of wall street, and then managed to buy themselves back and go private again. Best decision they ever made. That company would not have survived the downturn if they hadn't. Watching that go down was a real eye opener for me.
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It means they are getting shareholders. Shareholders who expect a return on their investment. And who will break out the lawyers if they don't get it.
They already have shareholders. Tons and tons and tons of shareholders. What they're getting are stockholders. So long as NewEgg continues to perform, the new stockholders shouldn't have a single problem with how the company's being run. That, and Newegg's probably looking to get some additional capital to expand beyond the USA, Canada, and China. The money raised could be going towards opening a Newegg-Europe or Newegg-Australia.
Bingo. right on the money.
Corporations 101.
This isn't a bad thing... it could be good.
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Say goodbye to free shipping in the future. :blah:
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I need to remember to get a stake in this.
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I love this, everyone is assuming that all the cool things about Newegg are going out the window. AFAIK, the management and day to day operations aren't changing, they're just going public because publicly traded companies tend to make more money. Money they can use to sweeten deals and expand they're business.
Economics is NOT a zero-sum gain. If you take a big slice out of the economic pie, it doesn't mean there's less pie for everyone else, it means the pie got bigger.
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I love this, everyone is assuming that all the cool things about Newegg are going out the window. AFAIK, the management and day to day operations aren't changing, they're just going public because publicly traded companies tend to make more money. Money they can use to sweeten deals and expand they're business.
Economics is NOT a zero-sum gain. If you take a big slice out of the economic pie, it doesn't mean there's less pie for everyone else, it means the pie got bigger.
The reason why was already addressed earlier in the thread.
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I love this, everyone is assuming that all the cool things about Newegg are going out the window. AFAIK, the management and day to day operations aren't changing, they're just going public because publicly traded companies tend to make more money. Money they can use to sweeten deals and expand they're business.
Economics is NOT a zero-sum gain. If you take a big slice out of the economic pie, it doesn't mean there's less pie for everyone else, it means the pie got bigger.
a similiar thing happend with tim horton's. when they went public, and began expanding stateside, i noticed a decline in their product quality (mainly donuts, but i ****ING LOVE DONUTS). so i think Its safer to assume similiar circumstance with newegg.
but that's my crazy opinion.
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Amazon.com
Public company with basically the highest ratings, customer loyalty, service, &c, second only to Newegg and only when considering technology. Newegg is a fraction the size as Amazon, though again making stocks and selling stocks will produce a LOT of cash for Newegg. To point it out again, more money equals expansion. There's a good chance that NewEgg will expand sooner, rather than later, to Europe or Australia, or open more warehouses (such as one in BC and another in Toronto, as well as one in Texas and, say, Florida).
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I'm...not seeing how this is automatically a terrible thing. So they're selling stocks. Does that somehow equate to suddenly-reduced quality because of some nebulous reason or another?
It means they will start putting more emphasis on short term profit over long term viability. We've seen this game be played out a number of times during the last 15 years.
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It's hysterical how this is playing out along political lines. The Liberals/Socialists/Commie pinkos are conditioned to think "STOCKHOLDER BAD!! FORCES COMPANY TO MAKE BAD DECISIONS!" and the Conservatives/Free Market/rednecks are like "STOCKHOLDER GOOD! MAKE COMPANY BETTER IN LONG RUN!"
It's just funny to me.
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But, uh, I would kind of **** up that analysis, being a moderate with a strong background in economics nonetheless opposed to this move...just like most of the country.
Scientific studies have already established the free market doesn't work quite perfectly (since it's predicated on perfect information). Data-based, rather than ideology-based, viewpoints are valuable.
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It's hysterical how this is playing out along political lines. The Liberals/Socialists/Commie pinkos are conditioned to think "STOCKHOLDER BAD!! FORCES COMPANY TO MAKE BAD DECISIONS!" and the Conservatives/Free Market/rednecks are like "STOCKHOLDER GOOD! MAKE COMPANY BETTER IN LONG RUN!"
It's just funny to me.
So if NewEgg does turn to **** does that mean you'll admit that the Liberals were correct? :p
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Perhaps, but more likely I'll chalk it up to poor management and brownnosing.
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I concur. I'm not completely certain NewEgg will go downhill, and even if it does, it might've happened anyway. My feeling is that the website is already so quality that any change will probably be a negative one.
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I suppose that it hasn't occurred to any of you that NOTHING might change. As Battuta pointed out, the reason they're everyone's favorite site to order parts through is they're service and competitive pricing. Why fix something that's not broken?
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Your local co-op gets bought out by a big international grocery chain. Do you honestly think that 'nothing will change'?
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Funny thing that, around here the big national conglomerate grocery store(s) went outta business, but the local/regional ones are still around.
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:wtf:
But...that's completely unrelated...to the topic or the metaphor it's addressing.
Anyway, I think the point stands. Since NewEgg is excellent, we have reason to be concerned at possible changes.
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Funny thing that, around here the big national conglomerate grocery store(s) went outta business, but the local/regional ones are still around.
So in other words you're arguing that small, independent companies are better able to avoid going out of business than big national companies?
I fail to see how this advances your argument. If anything it supports the opposing one. :p
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And to make things worse it was just one local branch of a big corporation that went out of business in his example...whereas those mom-and-pop outlets can't afford to lose their single store.